A Business at a Glance
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Walt Disney Co
DIS
$171.8B
Mkt Cap
$94.85
+2.18%
Walt Disney Co (DIS) has a current P/E ratio of 14.0, compared to its historical median P/E of 27.0. The stock is currently considered Fair based on its historical valuation range.
Walt Disney Co (DIS) has a 5-year average return on invested capital (ROIC) of 8.2%. This is below average and may indicate limited pricing power.
Walt Disney Co (DIS) has a market capitalization of $164.7B. It is classified as a large-cap stock.
Yes, Walt Disney Co (DIS) pays a dividend with a trailing twelve-month yield of 1.05%. The company also returns capital through share buybacks, with a buyback yield of 2.12%.
Based on historical P/E analysis, Walt Disney Co (DIS) appears fair. The current P/E of 14.0 is 48% below its historical median of 27.0. The estimated fair value CAGR (P/E method) is -3.5%.
Walt Disney Co (DIS) operates in the Services-Miscellaneous Amusement & Recreation industry, within the Consumer Cyclical sector.
Walt Disney Co (DIS) reported annual revenue of $94.4 billion in its most recent fiscal year, based on SEC EDGAR filings.
The Walt Disney Company operates as a diversified worldwide entertainment conglomerate organized into three segments: Entertainment, Sports, and Experiences. The Entertainment segment encompasses non-sports global film and episodic content production and distribution across Linear Networks (domestic and international branded television channels including ABC, Disney, Freeform, FX, and National Geographic), Direct-to-Consumer streaming services (Disney+ with approximately 132 million subscribers and Hulu with approximately 64 million subscribers), and Content Sales/Licensing (theatrical distribution, TV/VOD, home entertainment, stage plays, music distribution, and post-production services). Entertainment revenues derive from subscription fees, advertising, affiliate fees from multi-channel video programming distributors, theatrical rentals, and licensing of content and intellectual property. The Sports segment includes ESPN's linear networks, direct-to-consumer offerings, and sports content rights including the NFL. The Experiences segment comprises Disney's theme parks, cruise lines, and consumer products licensing, generating revenue from admission fees, per-capita spending, and merchandise licensing royalties. The company operates approximately 180 general entertainment and family channels internationally across approximately 30 languages and 170 countries/territories, with domestic television stations reaching approximately 20% of U.S. television households. Disney's business model combines high-margin subscription and advertising revenue from streaming services with capital-intensive theme park and cruise operations, supported by a vast library of owned intellectual property spanning Disney, Pixar, Marvel, Star Wars, and National Geographic brands that drive content production, theatrical releases, and consumer products licensing across all segments.
【Streaming profitability acceleration】 Management is prioritizing streaming optimization and content investment to drive long-term value, with Disney+ and Hulu integration underway to enhance engagement, reduce churn, and increase advertising revenue potential. The company expects attendance trends at domestic parks to improve in the second half of fiscal 2026 as international visitation headwinds and Epic Universe impacts begin to lap, supported by strong forward bookings and major expansion projects underway at Walt Disney World, Disneyland, and Shanghai Disney Resort. Capital expenditures in 2026 are focused on new cruise ship launches and theme park capacity expansion, with the company targeting meaningful cruise contributions to Experiences growth particularly in the second half as launch costs normalize. Management is implementing artificial intelligence across advertising targeting, guest experience personalization, and labor demand forecasting to enhance operational efficiency and guest satisfaction. The company expects to continue investing in content and technology while driving operating leverage across the business, with strategic priorities extending from near-term streaming optimization through medium-term interactivity initiatives to longer-term fan engagement and lifetime value creation.
| Metric | Target | Period |
|---|---|---|
| Adjusted EPS growth | 12% | FY2026 |
| Adjusted EPS growth | double-digit | FY2027 |
| Share repurchases | $7 billion | FY2026 |
| Cash dividend per share | $1.50 | FY2026 |
| Theatrical film releases | approximately 20 films | FY2026 |
Adjusted EPS growth (FY2026): “we expect 12% growth of adjusted EPS for fiscal 2026”
Adjusted EPS growth (FY2027): “double-digit growth of adjusted EPS for fiscal 2027, both excluding the impact of the 53rd week”
Share repurchases (FY2026): “We are targeting $7 billion in share repurchases in 2026”
Cash dividend per share (FY2026): “the board has declared a cash dividend of $1.50 per share, a 50% increase over the dollar paid to shareholders in fiscal 2025”
Theatrical film releases (FY2026): “During fiscal year 2026, we expect to release approximately 20 films.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q2 FY2026 Earnings Call, Q1 FY2026 Earnings Call, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call
| Segment | 2021 | 2022 | 2023 | 2024 | 2025 | % of Total |
|---|---|---|---|---|---|---|
Service | $61.77B | $74.20B | $79.56B | $81.84B | $84.59B | 34% |
Entertainment Third Party | $36.16B | $39.23B | $40.26B | $40.77B | $42.02B | 17% |
Subscription and affiliate fees | — | — | $34.81B | $36.55B | $37.78B | 15% |
Sports Third Party | $15.30B | $16.43B | $16.09B | $16.43B | $16.25B | 7% |
Theme park admissions | — | — | $10.42B | $11.17B | $11.71B | 5% |
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 0 | 94.4B | 91.4B | 88.9B | 82.7B | 67.4B |
| Net Income | 0 | 12.4B | 5.0B | 2.4B | 3.1B | 2.0B |
| EPS | $0.00 | $6.85 | $2.72 | $1.29 | $1.72 | $1.09 |
| Free Cash Flow | 0 | 10.1B | 8.6B | 4.9B | 1.1B | 2.0B |
| ROIC | - | 12.5% | 8.9% | 7.0% | 6.4% | 6.3% |
| Gross Margin | - | 39.7% | 38.0% | 35.6% | 36.1% | 35.4% |
| Debt/Equity | 0.00 | 0.38 | 0.45 | 0.47 | 0.51 | 0.61 |
| Dividends/Share | $0.00 | $1.00 | $0.75 | $0.00 | $0.00 | $0.00 |
| Operating Income | 0 | 17.6B | 15.6B | 12.9B | 12.1B | 7.8B |
| Operating Margin | 0.0% | 18.6% | 17.1% | 14.5% | 14.7% | 11.5% |
| ROE | 0.0% | 11.8% | 5.0% | 2.4% | 3.4% | 2.3% |
| Shares Outstanding | 1,737M | 1,811M | 1,828M | 1,825M | 1,828M | 1,830M |
| Metric | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||
| Revenue | 55.1B | 59.4B | 69.6B | 65.4B | 67.4B | 82.7B | 88.9B | 91.4B | 94.4B | 0 |
| Gross Margin | 46.0% | 46.1% | 41.4% | 35.4% | 35.4% | 36.1% | 35.6% | 38.0% | 39.7% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 8.2B | 8.9B | 11.5B | 12.4B | 13.5B | 16.4B | 15.3B | 15.8B | 16.5B | 16.5B |
| EBIT | 14.8B | 15.7B | 14.8B | 8.1B | 7.8B | 12.1B | 12.9B | 15.6B | 17.6B | 0 |
| Op. Margin | 26.8% | 26.4% | 21.3% | 12.4% | 11.5% | 14.7% | 14.5% | 17.1% | 18.6% | 0.0% |
| Net Income | 9.0B | 12.6B | 11.1B | -2.9B | 2.0B | 3.1B | 2.4B | 5.0B | 12.4B | 0 |
| Net Margin | 16.3% | 21.2% | 15.9% | -4.4% | 3.0% | 3.8% | 2.6% | 5.4% | 13.1% | 0.0% |
| Non-Recurring | 485M | 793M | 7.1B | 9.7B | 1.6B | -477M | 4.8B | 6.2B | 1.6B | 1.6B |
| Returns on Capital | ||||||||||
| ROIC | N/A | 32.3% | 11.9% | 6.6% | 6.3% | 6.4% | 7.0% | 8.9% | 12.5% | N/A |
| ROE | N/A | 37.4% | 15.6% | -3.3% | 2.3% | 3.4% | 2.4% | 5.0% | 11.8% | 0.0% |
| ROA | N/A | 25.5% | 7.6% | -1.4% | 1.0% | 1.5% | 1.2% | 2.5% | 6.3% | 0.0% |
| Cash Flow | ||||||||||
| Op. Cash Flow | 12.3B | 14.3B | 6.0B | 7.6B | 5.6B | 6.0B | 9.9B | 14.0B | 18.1B | 0 |
| Free Cash Flow | 8.7B | 9.8B | 1.1B | 3.6B | 2.0B | 1.1B | 4.9B | 8.6B | 10.1B | 0 |
| Owner Earnings | 9.2B | 10.9B | 1.1B | 1.7B | -145M | -138M | 3.4B | 7.6B | 11.4B | -6.7B |
| CapEx | 3.6B | 4.5B | 4.9B | 4.0B | 3.6B | 4.9B | 5.0B | 5.4B | 8.0B | 0 |
| Maint. CapEx | 2.8B | 3.0B | 4.2B | 5.3B | 5.1B | 5.2B | 5.4B | 5.0B | 5.3B | 5.3B |
| Growth CapEx | 841M | 1.5B | 709M | 0 | 0 | 0 | 0 | 422M | 2.7B | 0 |
| D&A | 2.8B | 3.0B | 4.2B | 5.3B | 5.1B | 5.2B | 5.4B | 5.0B | 5.3B | 5.3B |
| CapEx/OCF | 29.4% | N/A | 81.5% | 52.8% | 64.3% | 82.4% | 50.4% | 38.7% | 44.3% | 0.0% |
| Capital Allocation | ||||||||||
| Dividends Paid | 2.4B | 2.5B | 2.9B | 1.6B | 0 | 0 | 0 | 1.4B | 1.8B | 0 |
| Dividend Yield | 1.6% | 1.6% | 1.4% | 0.7% | N/A | N/A | N/A | 0.8% | 0.9% | N/A |
| Share Buybacks | 9.4B | 3.6B | 0 | 0 | 0 | 0 | 0 | 3.0B | 3.5B | 3.5B |
| Buyback Yield | 6.4% | N/A | N/A | N/A | N/A | N/A | N/A | 1.7% | 1.7% | 2.1% |
| Stock-Based Comp | 364M | 393M | 711M | 525M | 600M | 977M | 1.1B | 1.4B | 1.4B | 1.4B |
| Debt Repayment | 2.4B | 1.9B | 38.9B | 3.5B | 3.7B | 4.0B | 1.7B | 3.1B | 3.7B | 3.7B |
| Balance Sheet | ||||||||||
| Net Debt | 2.0B | 16.7B | 41.6B | 40.7B | 38.4B | 36.8B | 32.2B | 39.8B | 36.3B | 0 |
| Cash & Equiv. | 4.0B | 4.2B | 5.4B | 17.9B | 16.0B | 11.6B | 14.2B | 6.0B | 5.7B | N/A |
| Long-Term Debt | 4.8B | 17.1B | 38.1B | 52.9B | 48.5B | 45.3B | 42.1B | 39.0B | 35.3B | 35.3B |
| Debt/Equity | N/A | 0.40 | 0.53 | 0.70 | 0.61 | 0.51 | 0.47 | 0.45 | 0.38 | 0.00 |
| Interest Coverage | 29.1 | 23.0 | 11.9 | 4.9 | 5.0 | 7.8 | 6.5 | 7.5 | 9.7 | 9.7 |
| Equity | N/A | 52.7B | 88.9B | 83.6B | 88.6B | 95.0B | 99.3B | 100.7B | 109.9B | 0 |
| Total Assets | N/A | 98.6B | 194.0B | 201.5B | 203.6B | 203.6B | 205.6B | 196.2B | 197.5B | 0 |
| Total Liabilities | N/A | 10.5B | 91.1B | 118.0B | 115.1B | 108.6B | 106.3B | 95.5B | 87.6B | 87.6B |
| Intangibles | N/A | 6.8B | 23.2B | 19.2B | 17.1B | 14.8B | 13.1B | 10.7B | 9.3B | 10.1B |
| Retained Earnings | N/A | 82.7B | 42.5B | 38.3B | 40.4B | 43.6B | 46.1B | 49.7B | 60.4B | 60.4B |
| Working Capital | 1.8B | 6.3B | -3.2B | 8.6B | 2.6B | 25M | 1.6B | -9.4B | -9.9B | -9.9B |
| Current Assets | 4.6B | 16.8B | 28.1B | 35.3B | 33.7B | 29.1B | 32.8B | 25.2B | 24.3B | 24.3B |
| Current Liabilities | 2.9B | 10.5B | 31.3B | 26.6B | 31.1B | 29.1B | 31.1B | 34.6B | 34.2B | 34.2B |
| Per Share Data | ||||||||||
| EPS | 5.69 | 8.36 | 6.64 | -1.58 | 1.09 | 1.72 | 1.29 | 2.72 | 6.85 | 0.00 |
| Owner EPS | 5.83 | 7.23 | 0.66 | 0.96 | -0.08 | -0.08 | 1.84 | 4.17 | 6.30 | -3.85 |
| Book Value | N/A | 34.98 | 53.39 | 46.11 | 48.38 | 51.96 | 54.40 | 55.09 | 60.67 | 0.00 |
| Cash Flow/Share | 7.82 | 9.49 | 3.59 | 4.20 | 3.04 | 3.28 | 5.41 | 7.64 | 10.00 | 3.07 |
| Dividends/Share | 1.55 | 1.67 | 1.74 | 0.88 | 0.00 | 0.00 | 0.00 | 0.75 | 1.00 | 0.00 |
| Shares Out. | 1.6B | 1.5B | 1.7B | 1.8B | 1.8B | 1.8B | 1.8B | 1.8B | 1.8B | 1.7B |
| Valuation | ||||||||||
| P/E Ratio | 16.3 | N/A | 19.1 | N/A | 152.1 | 60.2 | 60.1 | 34.8 | 16.2 | N/A |
| P/FCF | 16.8 | 16.6 | 190.5 | 58.4 | 152.6 | 178.7 | 28.9 | 20.2 | 19.9 | N/A |
| EV/EBIT | 10.0 | N/A | 17.0 | 30.9 | 44.0 | 18.6 | 33.2 | 26.6 | 19.4 | N/A |
| Price/Book | N/A | N/A | N/A | N/A | N/A | N/A | 1.4 | 1.7 | 1.8 | N/A |
| Price/Sales | 2.8 | N/A | 2.9 | 3.4 | 4.6 | 2.7 | 1.9 | 1.9 | 2.1 | N/A |
| FCF Yield | 6.0% | N/A | 0.5% | 1.7% | 0.7% | 0.6% | 3.5% | 4.9% | 5.0% | N/A |
| Market Cap | 146.2B | N/A | 211.0B | 209.8B | 303.4B | 189.3B | 141.4B | 173.2B | 200.8B | 164.7B |
| Avg. Price | 98.81 | 101.86 | 121.23 | 121.98 | 170.92 | 122.51 | 90.72 | 97.10 | 108.81 | 94.85 |
| Year-End Price | 92.66 | 108.41 | 126.77 | 115.74 | 165.78 | 103.51 | 77.50 | 94.73 | 110.90 | 94.85 |
Walt Disney Co passes 3 of 9 quality checks, indicating weak fundamentals.
Walt Disney Co trades at 14.0x trailing earnings, compared to its 15-year median P/E of 27.0x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 23.8x vs a median of 20.1x. The company's 5-year average ROIC is 8.2% with a gross margin of 37.0%. Total shareholder yield (dividends + buybacks) is 3.2%. At current prices, the estimated annualized return to fair value is +18.1%.
Walt Disney Co (DIS) has a net profit margin of 13.1%. This is a healthy margin.
Walt Disney Co (DIS) generated $10.1 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Walt Disney Co (DIS) has a debt-to-equity ratio of 0.38. This indicates a conservatively financed balance sheet.
Walt Disney Co (DIS) reported earnings per share (EPS) of $6.85 in its most recent fiscal year.
Walt Disney Co (DIS) has a return on equity (ROE) of 11.8%. This indicates moderate shareholder returns.
Walt Disney Co (DIS) has a 5-year average gross margin of 37.0%. This indicates decent pricing power.
The Ledger Terminal provides 9 years of financial data for Walt Disney Co (DIS), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Walt Disney Co (DIS) has a book value per share of $60.67, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management is prioritizing streaming optimization and content investment to drive long-term value, with Disney+ and Hulu integration underway to enhance engagement, reduce churn, and increase advertising revenue potential. The company expects attendance trends at domestic parks to improve in the second half of fiscal 2026 as international visitation headwinds and Epic Universe impacts begin to lap, supported by strong forward bookings and major expansion projects underway at Walt Disney World, Disneyland, and Shanghai Disney Resort. Capital expenditures in 2026 are focused on new cruise ship launches and theme park capacity expansion, with the company targeting meaningful cruise contributions to Experiences growth particularly in the second half as launch costs normalize. Management is implementing artificial intelligence across advertising targeting, guest experience personalization, and labor demand forecasting to enhance operational efficiency and guest satisfaction. The company expects to continue investing in content and technology while driving operating leverage across the business, with strategic priorities extending from near-term streaming optimization through medium-term interactivity initiatives to longer-term fan engagement and lifetime value creation.
Based on recent SEC filings and earnings calls, Walt Disney Co (DIS) has provided the following forward guidance: Adjusted EPS growth: 12% (FY2026); Adjusted EPS growth: double-digit (FY2027); Share repurchases: $7 billion (FY2026); Cash dividend per share: $1.50 (FY2026); Theatrical film releases: approximately 20 films (FY2026).