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Friday 13 November 2026 Export DIS’s income statement to Excel — free account

The Walt Disney Company

DIS

Communication Services Entertainment

The Walt Disney Company’s revenue for fiscal 2025 (year ended September 2025) was $94.4 billion, up 3.35% from fiscal 2024.

Revenue
+6.76%
EPS
−48.0%
Free cash flow
+62.6%
Total debt
+8.94%

Quarter to June 2026, against a year earlier

119.19 0.96 +0.81%
Market cap
$204.2B
P/E
24.3×
Fwd P/E
20.5×
Dividend yield
1.27%
F-score
8/9
ROIC
5.35%
Net debt / EBITDA
1.9×
Dividend safety
77/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by products and services Fiscal 2025

  • Service
  • Product

Every year since 2017 →

Insider Decisions last twelve months

Net sold
$4.3M
Trades
10 sells · 2 buys
Ownership
1.04%

Capital & Financial Ratios $m

Size
Market Cap 204,150
Revenue ttm 98,861
Net income ttm 9,236
Free cash flow ttm 8,293
Net debt Q 40,856
Valuation
P/E 24.3
Forward P/E 20.5
Price / sales 2.1
Forward P/S Powerpack
Price / FCF 24.8
Price / book 1.8
Financial health
Current ratio Q 0.7 (below 1: weak)
Debt / equity Q 0.4 (at or below 0.5: strong)
Interest coverage Q 13.0
Growth
Revenue growth Q +6.8% (above 0%: growing)
Operating income growth Q +11.6% (above 0%: growing)
EPS, this year +16.7% (at or above 15%: strong)
EPS, next year A +8.5%
Revenue, next year A +7.5%
EPS, past 5 yrs —
EPS, next 5 yrs A +12.6%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates; n/m is not meaningful, as a P/E on a loss. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.5×, against a ten-year median of 3.1×; over the ten years it ranged from 2.0× in 2023 to 6.5× in 2021.
P/E against its own 10 years 59.15%
10-year low 10-year high
P/S against its own 10 years 22.07%
10-year low 10-year high
P/B against its own 10 years 23.06%
10-year low 10-year high
EV/Sales against its own 10 years 20.83%
10-year low 10-year high
EV/FCF against its own 10 years 52.75%
10-year low 10-year high

Dividends raised 2 years running

Yield
1.27%
Annual rate
1.50
Payout ratio
30.9%
Growth, 2017–25
−3.19%/yr
  1. 1.62 ’17
  2. 1.72 ’18 +6
  3. 1.76 ’19 +2
  4. 0.00 ’20 −100
  5. 0.00 ’21
  6. 0.00 ’22
  7. 0.00 ’23
  8. 0.95 ’24
  9. 1.25 ’25 +32
  10. 1.51 ’26e +20
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 14,182 6,002 5,695 5,185
Receivables 12,330 12,729 13,217 14,553
Inventory 1,963 2,022 2,134 2,081
Other 4,288 4,488 3,221 3,073
32,763 25,241 24,267 24,892
2023 2024 2025 Q'26
Payables 20,671 21,070 21,203 19,548
ST’ Debt 4,330 6,845 6,711 8,627
Other — — — —
31,139 34,599 34,162 35,105

Compound Annual Growth %

10y 5y 3y
Sales 6.05% 7.63% 4.51%
Cash Flow 4.75% 18.90% 44.48%
Earnings 4.00% 0.00% 58.00%
Book Value 8.95% 5.36% 5.04%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 1.88 Actual 2.06

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 1.03 1.11 Beat by 0.08
Q1 FY26 1.57 1.63 Beat by 0.06
Q2 FY26 1.49 1.57 Beat by 0.08
Q3 FY26 1.88 2.06 Beat by 0.18
Q4 FY26 1.67 — Reports 17 November 2026

EPS $

Dec Mar Jun Sep Year
’26 1.34 1.27 1.51 — —
’25 1.40 1.81 2.92 0.73 6.85
’24 1.04 (0.01) 1.43 0.25 2.72
’23 0.70 0.69 (0.25) 0.14 1.29
’22 0.60 0.26 0.77 0.09 1.72
’21 0.01 0.49 0.50 0.09 1.09
’20 1.16 0.25 (2.61) (0.39) (1.58)
Fiscal quarters ending in the months shown.

Revenue $m

Dec Mar Jun Sep Year
’26 25,981 25,168 25,248 — —
’25 24,690 23,621 23,650 22,464 94,425
’24 23,549 22,083 23,155 22,574 91,361
’23 23,512 21,815 22,330 21,241 88,898
’22 21,819 19,249 21,504 20,150 82,722
’21 16,249 15,613 17,022 18,534 67,418
’20 20,877 18,025 11,779 14,707 65,388
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Dec Mar Jun Sep Year
’26 735 6,914 4,866 — —
’25 3,205 6,753 3,669 4,474 18,101
’24 2,185 3,666 2,602 5,518 13,971
’23 (974) 3,236 2,802 4,802 9,866
’22 (209) 1,765 1,922 2,524 6,002
’21 75 1,393 1,466 2,632 5,566
’20 1,630 3,157 1,162 1,667 7,616
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Dec Mar Jun Sep Year
’26 (2,278) 4,941 3,072 — —
’25 739 4,891 1,889 2,558 10,077
’24 886 2,407 1,237 4,029 8,559
’23 (2,155) 1,987 1,637 3,428 4,897
’22 (1,190) 686 187 1,376 1,059
’21 (685) 623 528 1,522 1,988
’20 292 1,910 454 938 3,594
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 13.8% a year for ten years. It grew 0.9% a year over the last ten.

Implied
13.8%
10 years, reported
0.9%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to September

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 55,632 55,137 59,434 69,607 65,388 67,418 82,722 88,898 91,361 94,425 98,861 +6.1% 101,511 106,023 110,582 +5.4%
Gross margin, % 46.09 45.04 44.94 39.57 32.89 33.06 34.24 33.41 35.75 37.76 37.60 (8.3) pt
EBT 14,868 13,788 14,729 13,923 (1,743) 2,561 5,285 4,769 7,569 12,003 12,750 (2.4%)
EBT margin, % 26.73 25.01 24.78 20.00 (2.67) 3.80 6.39 5.36 8.28 12.71 12.90 (14.0) pt
Net income 9,790 9,366 13,066 10,897 (2,442) 2,536 3,553 3,390 5,773 13,431 9,236 +3.6%
Per share, $
Per share, $ Revenue 34.15 35.16 39.65 42.03 36.17 37.12 45.40 48.63 50.06 52.34 56.88 +4.9%
Earnings 5.76 5.73 8.40 6.68 (1.58) 1.10 1.73 1.29 2.72 6.88 4.86 +2.0%
Cash flow 8.06 7.87 9.54 3.61 4.21 3.07 3.29 5.40 7.66 10.03 9.78 +2.5%
Capex (2.93) (2.31) (2.98) (2.94) (2.22) (1.97) (2.71) (2.72) (2.97) (4.45) (5.00) +4.7%
Free cash flow 5.13 5.56 6.56 0.67 1.99 1.09 0.58 2.68 4.69 5.59 4.77 +0.9%
Book value 29.05 28.70 35.24 56.70 48.82 51.22 54.27 56.87 57.82 63.53 67.23 +9.1%
Shares, m 1,629 1,568 1,499 1,656 1,808 1,816 1,822 1,828 1,825 1,804 1,774 +1.1%
Valuation, ×
Valuation, × P/E 16.15 17.46 13.84 18.64 0.00 153.79 54.53 63.31 35.36 16.67 24.30 39.0
P/S 2.72 2.84 2.93 3.10 3.43 4.56 2.08 1.68 1.92 2.19 2.08 2.7
P/B 3.20 3.48 3.30 2.30 2.54 3.30 1.74 1.44 1.66 1.80 1.76 2.5
EV/Sales 3.00 3.23 3.21 3.70 4.05 5.13 2.52 2.04 2.36 2.57 2.49 3.2
EV/FCF 19.95 20.40 19.43 232.29 73.75 173.87 197.00 37.07 25.16 24.10 29.68 82.3
Cash, $m
Cash, $m Operating cash flow 13,136 12,343 14,295 5,984 7,616 5,566 6,002 9,866 13,971 18,101 16,989 +3.6%
Capex (4,773) (3,623) (4,465) (4,876) (4,022) (3,578) (4,943) (4,969) (5,412) (8,024) (8,696) +5.9%
Free cash flow 8,363 8,720 9,830 1,108 3,594 1,988 1,059 4,897 8,559 10,077 8,293 +2.1%
Balance, $m
Balance, $m Working capital 124 (3,706) (1,035) (3,217) 8,623 2,580 25 1,624 (9,358) (9,895) (10,213) n/m
Net debt 15,560 21,274 16,724 41,568 40,714 38,447 36,754 32,249 39,813 36,331 40,856 +9.9%
Shareholders’ equity 47,323 45,004 52,832 93,889 88,263 93,011 98,879 103,957 105,522 114,612 116,842 +10.3%
Returns, %
Returns, % ROA 10.42 9.56 12.96 7.56 (1.45) 0.98 1.54 1.15 2.47 6.30 4.29 (4.1) pt
ROIC 14.12 12.99 13.30 4.91 (0.94) 1.43 3.01 2.34 3.58 5.39 5.35 (8.7) pt
ROE 19.57 19.45 25.75 15.07 (3.14) 2.20 3.28 2.32 4.75 11.27 7.46 (8.3) pt
People
People Employees 195,000 199,000 201,000 223,000 203,000 190,000 220,000 225,000 233,000 231,000 — +1.9%
Revenue/emp, $m 0.29 0.28 0.30 0.31 0.32 0.35 0.38 0.40 0.39 0.41 — +4.1%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Sep 2025 · latest quarter Jun 2026

Business profile

Updated

The Walt Disney Company is a diversified worldwide entertainment company founded in 1923 and headquartered in Burbank. It operates three segments: Entertainment, Sports and Experiences.

Entertainment makes and distributes non-sports films and series, operates television networks, and sells streaming services. Its consumer services include Disney+ and Hulu, while its linear businesses include ABC, Disney, Freeform, FX and National Geographic channels. It also earns from theatrical releases, licensing content to television and video-on-demand services, home entertainment, music, stage plays, and post-production work.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by products and services, and margins
Service 84,588 89.58%
Product 9,837 10.42%
Gross margin 37.76%
Operating margin 13.78%
Pre-tax margin 12.71%

Revenue by segment since 2017

The Walt Disney Company vs peers in Entertainment (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
NFLX Netflix, Inc. $257.4B 17.8× 17.7× +11.85% (above 0%: growing) +48.33% (above 0%: growing) +8.38% (above 0%: growing) 52.78% 34.63% Compare
DIS The Walt Disney Company $204.2B 24.3× 20.5× +6.76% (above 0%: growing) −47.95% (below 0%: shrinking) +62.63% (above 0%: growing) 40.17% 15.29%
LYV Live Nation Entertainment, Inc. $42.5B 315× — (loss-making) +18.89% (above 0%: growing) +228.62% (above 0%: growing) −144.72% (below 0%: shrinking) 23.33% 8.83% Compare
SKYD Skydance Corporation $39.9B — (loss-making) 9.3× +4.82% (above 0%: growing) +9.37% (above 0%: growing) +106.67% (above 0%: growing) 33.72% 5.24% Compare
TKO TKO Group Holdings, Inc. $36.6B 30.7× 39.7× +21.45% (above 0%: growing) +660.14% (above 0%: growing) +12.82% (above 0%: growing) 64.05% 27.76% Compare
FOX Fox Corporation $35.7B 12.3× 11.7× +22.28% (above 0%: growing) +72.21% (above 0%: growing) +314.96% (above 0%: growing) 48.30% 33.32% Compare
FOXA Fox Corporation $35.7B 13.7× 11.7× +22.28% (above 0%: growing) +72.21% (above 0%: growing) +314.96% (above 0%: growing) 48.30% 33.32% Compare
FWONA Liberty Media Corporation - Liberty Formula One Series A $27.4B 101× — +24.06% (above 0%: growing) −98.69% (below 0%: shrinking) +35.16% (above 0%: growing) 20.97% 0.00% Compare
FWONK Liberty Media Corporation - Liberty Formula One Series C $27.3B 105× 89.9× +24.06% (above 0%: growing) −98.69% (below 0%: shrinking) +35.16% (above 0%: growing) 20.97% 0.00% Compare
Median of peers $36.2B 30.7× 14.7× +21.87% +60.27% +35.16% 41.01% 18.30%

All 47 Entertainment stocks →

Analyst rating changes each firm’s latest, last six months

Firm Date Action Rating Target
Citi Oct 26, 2026 Target raised — 135.00 → 140.00
Raymond James Oct 16, 2026 Target cut Outperform 120.00 → 119.00
Needham Oct 16, 2026 Reiterated Buy 125.00
Bernstein Sep 28, 2026 Reiterated Buy 129.00
Goldman Sachs Sep 28, 2026 Target cut Buy 140.00

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 76.73%
Held by the ten largest 37.07%
Holder Shares Stake Change
Vanguard 168.35m 9.75% −245.69k
BlackRock 136.88m 7.93% +1.43m
State Street 83.50m 4.84% −207.50k
JPMorgan Chase 75.81m 4.39% −1.09m
Geode Capital Management 41.32m 2.39% −269.47k
Morgan Stanley 34.50m 2.00% +696.44k
Wellington Management 31.99m 1.85% +4.10m
Fidelity (FMR) 25.39m 1.47% +3.44m
UBS 22.06m 1.28% −1.65m
Norges Bank 20.25m 1.17% +20.25m
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

The Walt Disney Company (DIS) Latest News

10 Nov

Impact 3 · · TheStreet

9 Nov

Impact 3 · · Investing.com

4 Nov

Impact 3 · · Barchart

3 Nov

Impact 3 · · Simply Wall St.
Impact 3 · · Bloomberg
Impact 3 · · GuruFocus.com
Impact 3 · · GuruFocus.com
Impact 3 ·
Impact 3 · · 24/7 Wall St.
Impact 3 · · 24/7 Wall St.
Impact 3 · · InvestorsHub
Impact 3 · · beincrypto.com

29 Oct

Impact 4 · · marketingdive.com
Impact 3 · · Simply Wall St.
Impact 3 · · Trefis

28 Oct

Impact 4 · · Barchart
Impact 3 · · LA Times

27 Oct

Impact 4 · · Simply Wall St.
Impact 3 · · Zacks
Impact 3 · · Trefis

26 Oct

Impact 4 · · TIKR
Impact 3 · · 24/7 Wall St.

25 Oct

Impact 4 · · 24/7 Wall St.

23 Oct

Impact 4 · · Zacks
Impact 3 · · 24/7 Wall St.
Impact 3 · · Trefis

22 Oct

Impact 3 · · Zacks
Impact 3 · · 24/7 Wall St.
Impact 3 · · Simply Wall St.

21 Oct

Impact 4 · · Trefis

DIS metrics, ten years each

stockrow.com/DIS · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com