Fox vs SiriusXM
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The short version
- Fox is the larger business, with $17.1B of revenue in fiscal 2026 against $8.6B for SiriusXM, about 2.0 times as much.
- Fox grew revenue faster (5.1%, against −1.6%).
- SiriusXM turned more of its sales into free cash flow (14.6% FCF margin, against 8.6%).
- Fox earned a higher return on the capital invested in it (14.8%, against 5.3%).
| Latest fiscal year | FOXA · FY26 | SIRI · FY25 |
|---|---|---|
| Size | ||
| Market cap | $29.2B | $9.4B |
| Revenue | $17.1B | $8.6B |
| Free cash flow | $1.5B | $1.2B |
| Net income | $1.7B | $805M |
| Growth | ||
| Revenue growth | 5.1% | −1.6% |
| 5-year growth | 5.8% | 1.3% |
| Share count change | −4.8% | 5.6% |
| Profitability | ||
| Gross margin | — | 52.4% |
| Operating margin | — | 17.2% |
| Net margin | 10.1% | 9.4% |
| FCF margin | 8.6% | 14.6% |
| Return on capital | 14.8% | 5.3% |
| Return on equity | 14.6% | 7.1% |
| Balance sheet | ||
| Net debt | $2.4B | $9.6B |
| Net debt / EBITDA | 0.8x | 5.1x |
| Dividends and buybacks | $2.3B | $501M |
| Valuation & quality | ||
| P/E | — | 11.1x |
| Piotroski F-score | 6 | 6 |
Revenue
FY17
FOXA $9.9B
SIRI $5.4B
FY18
FOXA $10.2B
SIRI $5.8B
FY19
FOXA $11.4B
SIRI $7.8B
FY20
FOXA $12.3B
SIRI $8.0B
FY21
FOXA $12.9B
SIRI $8.7B
FY22
FOXA $14.0B
SIRI $9.0B
FY23
FOXA $14.9B
SIRI $9.0B
FY24
FOXA $14.0B
SIRI $8.7B
FY25
FOXA $16.3B
SIRI $8.6B
FY26
FOXA $17.1B
SIRI —
FOXA
SIRI
Operating margin
FY17
FOXA —
SIRI 30.3%
FY18
FOXA —
SIRI 29.9%
FY19
FOXA —
SIRI 21.1%
FY20
FOXA —
SIRI 10.7%
FY21
FOXA —
SIRI 23.2%
FY22
FOXA —
SIRI 21.3%
FY23
FOXA —
SIRI 20.2%
FY24
FOXA —
SIRI −17.4%
FY25
FOXA —
SIRI 17.2%
FY26
FOXA —
SIRI —
FOXA
SIRI
Free cash flow
FY17
FOXA $1.5B
SIRI $1.6B
FY18
FOXA $1.1B
SIRI $1.5B
FY19
FOXA $2.3B
SIRI $1.7B
FY20
FOXA $2.0B
SIRI $1.7B
FY21
FOXA $2.2B
SIRI $1.6B
FY22
FOXA $1.6B
SIRI $1.6B
FY23
FOXA $1.4B
SIRI $1.2B
FY24
FOXA $1.5B
SIRI $1.0B
FY25
FOXA $3.0B
SIRI $1.2B
FY26
FOXA $1.5B
SIRI —
FOXA
SIRI
Return on capital
FY17
FOXA —
SIRI 16.8%
FY18
FOXA —
SIRI 28.1%
FY19
FOXA 17.4%
SIRI 20.9%
FY20
FOXA 9.9%
SIRI 6.5%
FY21
FOXA 18.8%
SIRI 12.4%
FY22
FOXA 11.4%
SIRI 6.7%
FY23
FOXA 11.3%
SIRI 6.5%
FY24
FOXA 13.7%
SIRI −5.3%
FY25
FOXA 19.2%
SIRI 5.3%
FY26
FOXA 14.8%
SIRI —
FOXA
SIRI
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.