The Walt Disney Company (DIS) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 27	$1.85	$2.06	+11.4%	—	—	—
Q4 26	$1.5	$1.57	+4.7%	—	—	—
Q3 26	$1.58	$1.63	+3.2%	—	—	—
Q2 26	$1.02	$1.11	+8.8%	—	—	—
Q1 26	$1.45	$1.61	+11.0%	—	—	—
Q4 25	$1.21	$1.45	+19.8%	—	—	—
Q3 25	$1.43	$1.76	+23.1%	—	—	—
Q2 25	$1.11	$1.14	+2.7%	—	—	—
Q1 25	$1.19	$1.39	+16.8%	—	—	—
Q4 24	$1.1	$1.21	+10.0%	—	—	—
Q3 24	$1.03	$1.22	+18.4%	—	—	—
Q2 24	$0.7	$0.82	+17.1%	—	—	—
Q1 24	$0.95	$1.03	+8.4%	—	—	—
Q4 23	$0.93	$0.93	0.0%	—	—	—
Q3 23	$0.78	$0.99	+26.9%	—	—	—
Q2 23	$0.55	$0.3	-45.5%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$6.88	—	—	$94.4B	—
FY24	—	$2.72	—	—	$91.4B	—
FY23	—	$1.29	—	—	$88.9B	—
FY22	—	$1.73	—	—	$82.7B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$55.6B	$55.1B	$59.4B	$69.6B	$65.4B	$67.4B	$82.7B	$88.9B	$91.4B	$94.4B
YoY change	+6.04%	-0.89%	+7.79%	+17.1%	-6.06%	+3.1%	+22.7%	+7.47%	+2.77%	+3.35%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	55.6B	55.1B	59.4B	69.6B	65.4B	67.4B	82.7B	88.9B	91.4B	94.4B
Cost of revenue	30B	30.3B	32.7B	42.1B	43.9B	45.1B	54.4B	59.2B	58.7B	58.8B
Gross profit	25.6B	24.8B	26.7B	27.5B	21.5B	22.3B	28.3B	29.7B	32.7B	35.7B
Gross margin	46.1%	45%	44.9%	39.6%	32.9%	33.1%	34.2%	33.4%	35.8%	37.8%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	8.8B	8.2B	8.9B	11.5B	12.4B	13.5B	16.4B	15.3B	15.8B	16.5B
Operating expenses	8.8B	8.2B	8.9B	11.5B	12.4B	13.5B	16.4B	15.3B	15.8B	16.5B
Operating income	14.4B	13.9B	14.8B	11.8B	3.8B	3.7B	6.8B	9B	11.9B	13.8B
Operating margin	25.8%	25.2%	25%	17%	5.8%	5.43%	8.18%	10.1%	13%	14.6%
Non-operating income, net	770M	300M	466M	3.1B	-4B	308M	-88M	-3B	-2.7B	-524M
Pretax income	14.9B	13.8B	14.7B	13.9B	-1.7B	2.6B	5.3B	4.8B	7.6B	12B
Income tax	5.1B	4.4B	1.7B	3B	699M	25M	1.7B	1.4B	1.8B	-1.4B
Net income	9.8B	9.4B	13.1B	11.6B	-2.5B	2.5B	3.5B	3.4B	5.8B	13.4B
Net margin	17.6%	17%	22%	16.6%	-3.78%	3.72%	4.24%	3.81%	6.32%	14.2%
EBITDA	17.9B	17.1B	18.3B	20.3B	10.8B	9.7B	12.9B	15.9B	18.3B	20B
EPS	5.76	5.73	8.4	6.68	-1.58	1.1	1.73	1.29	2.72	6.88
Diluted EPS	5.73	5.69	8.36	6.64	-1.58	1.09	1.72	1.29	2.72	6.85

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Revenue	—	—	—	—	—	—	—	—	22.5B	26B	25.2B	25.2B
Cost of revenue	—	—	—	—	—	—	—	—	14B	16.7B	15.9B	15.1B
Gross profit	—	—	—	—	—	—	—	—	8.4B	9.3B	9.3B	10.1B
Gross margin	—	—	—	—	—	—	—	—	37.6%	35.8%	36.8%	40.2%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	—	—	—	—	—	—	—	—	4.4B	4.1B	4.1B	4B
Operating expenses	—	—	—	—	—	—	—	—	4.4B	4.1B	4.1B	4B
Operating income	—	—	—	—	—	—	—	—	2.6B	3.9B	3.8B	4.8B
Operating margin	—	—	—	—	—	—	—	—	11.6%	14.9%	15.1%	18.9%
Non-operating income, net	—	—	—	—	—	—	—	—	-290M	93M	-182M	-817M
Pretax income	—	—	—	—	—	—	—	—	2B	3.7B	3.4B	3.6B
Income tax	313M	720M	441M	251M	384M	1B	-314M	-2.7B	602M	1.2B	902M	801M
Net income	—	—	—	—	—	—	—	—	1.4B	2.5B	2.5B	2.8B
Net margin	—	—	—	—	—	—	—	—	6.42%	9.56%	9.79%	11.3%
EBITDA	—	—	—	—	—	—	—	—	4.2B	5.5B	5.5B	6.4B
EPS	0.14	1.04	-0.01	1.44	0.25	1.41	1.81	2.92	0.73	1.34	1.27	1.52
Diluted EPS	0.14	1.04	-0.01	1.43	0.25	1.4	1.81	2.92	0.73	1.34	1.27	1.51

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	151.3B	154.6B	175.3B	—	224.3B	307.2B	171.9B	148.2B	175.5B	206.6B	182.3B
Enterprise value	166.8B	175.8B	192B	—	268B	348.9B	211.9B	183.9B	218.3B	245.7B	231B
Shares outstanding	1.6B	1.6B	1.5B	1.7B	1.8B	1.8B	1.8B	1.8B	1.8B	1.8B	1.8B

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	15.5	16.5	13.4	—	—	122.5	49	43.7	30.4	15.4	21.6
P/S	2.72	2.8	2.95	—	3.43	4.56	2.08	1.67	1.92	2.19	1.83
P/B	3.2	3.35	3.25	—	2.3	3.01	1.59	1.31	1.66	1.8	1.65
EV/EBITDA	9.32	10.3	10.5	—	24.7	35.8	16.4	11.5	11.9	12.3	11
EV/Sales	3	3.19	3.23	—	4.1	5.18	2.56	2.07	2.39	2.6	2.34
Earnings yield	6.47%	6.06%	7.45%	—	—	0.82%	2.04%	2.29%	3.29%	6.5%	4.62%
FCF yield	5.53%	5.64%	5.61%	—	1.6%	0.65%	0.62%	3.31%	4.88%	4.88%	2.67%
PEG	—	—	—	—	—	—	—	—	—	—	-0.45

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	46.1%	45%	44.9%	39.6%	32.9%	33.1%	34.2%	33.4%	35.8%	37.8%	40.2%
Operating margin	25.8%	25.2%	25%	17%	5.8%	5.43%	8.18%	10.1%	13%	14.6%	19.3%
Net margin	17.6%	17%	22%	16.6%	-3.78%	3.72%	4.24%	3.81%	6.32%	14.2%	8.7%
ROE	20.7%	20.3%	24.2%	11.3%	-2.54%	2.45%	3.23%	3%	5.47%	11.7%	8.01%
ROA	10.6%	9.78%	13.3%	5.97%	-1.23%	1.23%	1.72%	1.65%	2.94%	6.8%	4.81%
ROIC	15%	14%	18.6%	6.41%	2.69%	2.52%	3.07%	4.3%	6.13%	8.99%	6.9%
Return on tangible assets	43.5%	49.4%	58.2%	-88.9%	-31.6%	18.9%	19.3%	13.4%	20.6%	41.5%	25.8%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.01	0.81	0.94	0.9	1.32	1.08	1	1.05	0.73	0.71	0.71
Quick ratio	0.92	0.74	0.86	0.84	1.26	1.04	0.94	0.99	0.67	0.65	0.65
Debt / equity	0.43	0.55	0.39	0.46	0.63	0.56	0.48	0.44	0.46	0.39	0.39
Debt / assets	0.22	0.26	0.21	0.24	0.31	0.28	0.25	0.24	0.25	0.23	0.22
Net debt / EBITDA	0.87	1.24	0.91	2.05	4.03	4.28	3.1	2.24	2.34	1.96	1.89
Interest coverage	43	28.2	26.7	15.2	-0.17	2.82	4.41	3.42	4.66	7.62	8.1
Effective tax rate	34.2%	32.1%	11.3%	21.7%	0%	0.98%	32.8%	28.9%	23.7%	0%	27.6%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	34.2	35.2	39.6	42	36.2	37.1	45.4	48.6	50.1	52.3	55.8
EPS (basic)	5.76	5.73	8.4	6.68	-1.58	1.1	1.73	1.29	2.72	6.88	6.88
EPS (diluted)	5.73	5.69	8.36	6.64	-1.58	1.09	1.72	1.29	2.72	6.85	4.85
Book value per share	29.1	29.4	36	62.1	53.9	56.3	59.5	61.8	57.8	63.5	63.6
FCF per share	5.13	5.56	6.56	1.04	1.99	1.1	0.59	2.68	4.69	5.59	4.76
Cash per share	2.83	2.56	2.77	3.27	9.91	8.79	6.37	7.76	3.29	3.16	3
Capex per share	2.93	2.31	2.98	2.94	2.22	1.97	2.71	2.72	2.97	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	8.58%	6.57%	7.51%	7.01%	6.15%	5.31%	5.98%	5.59%	5.92%	—	—
Capex / operating cash flow	35.9%	29.8%	31.9%	50.9%	138.1%	70.3%	110%	71.4%	50.6%	—	—
Payout ratio	23.6%	26.1%	19.2%	25%	-64.1%	0%	0%	0%	23.7%	13.4%	30.9%
Dividend yield	1.53%	1.58%	1.43%	—	0.71%	0%	0%	0%	0.78%	0.87%	2.84%

Yield

2.84%

trailing twelve months

Frequency

Semi-annual

Last dividend

$0.75

ex-dividend Jun 30, 2026

Payout ratio

31%

of earnings

Dividend growth

2 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jun 30, 2026	$0.75
Dec 15, 2025	$0.75
Jun 24, 2025	$0.50

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Revenue	—	—	—	—	—	—	—	—	$22.5B	$26B	$25.2B	$25.2B
YoY change	—	—	—	—	—	—	—	—	—	—	—	—

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	4.6B	4B	4.2B	5.4B	17.9B	16B	11.6B	14.2B	6B	5.7B
Receivables	8.5B	7.6B	8.3B	12.9B	11.3B	11.2B	10.8B	10.2B	10.3B	10.4B
Inventory	1.4B	1.4B	1.4B	1.6B	1.6B	1.3B	1.7B	2B	2B	2.1B
Total current assets	17B	15.9B	16.8B	28.1B	35.3B	33.7B	29.1B	32.8B	25.2B	24.3B
Property, plant & equipment	27.3B	28.4B	29.5B	54B	32.1B	32.6B	33.6B	34.9B	37B	41.3B
Goodwill & intangibles	69.5B	76.8B	76.2B	207B	193.7B	190.4B	185.5B	180.3B	168.1B	165.1B
Total assets	92B	95.8B	98.6B	194B	201.5B	203.6B	203.6B	205.6B	196.2B	197.5B
Accounts payable	6.9B	6.3B	6.5B	13.8B	13.2B	16.4B	16.2B	15.1B	14.8B	15.1B
Short-term debt	3.7B	6.2B	3.8B	8.9B	5.7B	5.9B	3.1B	4.3B	6.8B	6.7B
Total current liabilities	16.8B	19.6B	17.9B	31.3B	26.6B	31.1B	29.1B	31.1B	34.6B	34.2B
Long-term debt	16.5B	19.1B	17.1B	38.1B	55.8B	51.8B	48.5B	45.6B	41.9B	38.2B
Total liabilities	44.7B	49.6B	44.6B	91.1B	104B	101.4B	95.3B	92.6B	90.7B	82.9B
Shareholders' equity	47.3B	46.2B	54B	102.9B	97.5B	102.2B	108.4B	113B	105.5B	114.6B
Total debt	20.2B	25.3B	20.9B	47B	61.5B	57.6B	51.6B	49.9B	48.7B	44.9B
Net debt	15.6B	21.3B	16.7B	41.6B	43.6B	41.7B	40B	35.7B	42.7B	39.2B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Cash & short-term investments	14.2B	7.2B	6.6B	6B	6B	5.5B	5.9B	5.4B	5.7B	5.7B	5.7B	5.2B
Receivables	10.2B	14.1B	12B	13B	10.3B	13.8B	12.6B	13.4B	10.4B	15.1B	14.4B	14.6B
Inventory	2B	2B	1.9B	2B	2B	2B	2B	2.1B	2.1B	2.2B	2.1B	2.1B
Total current assets	32.8B	26B	24.6B	25.5B	25.2B	23.7B	22.7B	23.8B	24.3B	25.5B	24.6B	24.9B
Property, plant & equipment	34.9B	-36.8B	-36.6B	-37.3B	37B	-40.2B	-40.6B	-41.4B	41.3B	-38.6B	-41.9B	-42.7B
Goodwill & intangibles	180.3B	179.4B	170.8B	170B	168.1B	167.4B	166.6B	165.9B	165.1B	168.3B	169.5B	168.9B
Total assets	205.6B	197.8B	195.1B	197.8B	196.2B	197B	195.8B	196.6B	197.5B	202.1B	205.2B	204.7B
Accounts payable	15.1B	—	—	—	14.8B	—	—	—	15.1B	—	—	—
Short-term debt	4.3B	6.1B	6.8B	8.1B	6.8B	6.6B	6.4B	5.7B	6.7B	10.8B	8.9B	8.6B
Total current liabilities	31.1B	31B	32.9B	35.6B	34.6B	34.8B	34B	33B	34.2B	38B	36.2B	35.1B
Long-term debt	45.6B	41.6B	39.5B	39.5B	41.9B	38.7B	36.4B	36.5B	38.2B	35.8B	38.5B	37.4B
Total liabilities	92.6B	92.3B	91.3B	92.5B	90.7B	90.3B	87.1B	82.9B	82.9B	88.1B	89.9B	87.9B
Shareholders' equity	113B	105.5B	103.8B	105.3B	105.5B	106.7B	108.8B	113.8B	114.6B	114B	115.3B	116.8B
Total debt	49.9B	47.7B	46.3B	47.6B	48.7B	45.3B	42.9B	42.3B	44.9B	46.6B	47.4B	46B
Net debt	35.7B	40.5B	39.7B	41.6B	42.7B	39.8B	37B	36.9B	39.2B	41B	41.7B	40.9B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	9.8B	9.4B	13.1B	10.9B	-2.4B	2.5B	3.6B	3.4B	5.8B	13.4B
Depreciation & amortization	2.5B	2.8B	3B	4.2B	5.3B	5.1B	5.2B	5.4B	5B	5.3B
Stock-based compensation	393M	364M	393M	711M	525M	600M	977M	1.1B	1.4B	1.4B
Change in working capital	-1.3B	-1.2B	-837M	-5.6B	-645M	2.2B	488M	177M	-1.6B	-430M
Operating cash flow	13.3B	12.2B	14B	9.6B	2.9B	5.1B	4.5B	7B	10.7B	18.1B
Capital expenditure	-4.8B	-3.6B	-4.5B	-4.9B	-4B	-3.6B	-4.9B	-5B	-5.4B	—
Investing cash flow	-5.8B	-4.1B	-5.3B	-15.1B	-3.9B	-3.2B	-5B	-4.6B	-6.9B	-19M
Dividends paid	-2.3B	-2.4B	-2.5B	-2.9B	-1.6B	0	0	0	-1.4B	-1.8B
Share repurchases	-7.5B	-9.4B	-3.6B	0	0	—	0	0	-3B	-3.5B
Financing cash flow	-7.5B	-9.2B	-9.1B	-782M	8.2B	-4.8B	-4.7B	-2.7B	-15.3B	-10.4B
Net change in cash	52M	-1.2B	-411M	-6.3B	7.2B	-2.9B	-5.2B	-403M	-11.5B	7.7B
Free cash flow	8.4B	8.7B	9.8B	1.7B	3.6B	2B	1.1B	4.9B	8.6B	10.1B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Net income	694M	2.2B	216M	2.8B	564M	2.6B	3.4B	5.9B	1.4B	2.5B	2.5B	2.8B
Depreciation & amortization	1.4B	1.2B	1.2B	1.2B	1.3B	1.3B	1.3B	1.3B	1.4B	1.3B	1.4B	1.4B
Stock-based compensation	282M	308M	367M	361M	330M	317M	330M	357M	359M	332M	405M	423M
Change in working capital	1.3B	-4B	521M	-1.1B	1.4B	-2.3B	873M	98M	944M	-3.7B	1.7B	128M
Operating cash flow	3.6B	2.2B	1.3B	2.5B	3.2B	3.3B	6.5B	3.7B	4.5B	735M	6.9B	4.9B
Capital expenditure	-1.4B	-1.3B	-1.3B	-1.4B	-1.5B	-2.5B	-1.9B	—	—	—	—	—
Investing cash flow	-1.4B	-1.2B	-1.3B	-1.4B	-2B	-2.6B	-1.9B	60M	62M	276M	-219M	7M
Dividends paid	—	—	—	0	-817M	—	—	0	-898M	—	—	0
Share repurchases	—	—	-1B	-1.5B	-469M	-794M	-991M	-711M	-1B	-2B	-3.5B	-1.7B
Financing cash flow	-649M	-8B	-2.3B	-898M	-3.6B	-997M	-3.7B	-1.7B	-2.3B	2B	-2.8B	-3.6B
Net change in cash	1.6B	-7B	-2.3B	117M	-2.4B	-308M	954M	2B	2.3B	3B	3.9B	1.3B
Free cash flow	3.4B	886M	2.4B	1.2B	4B	739M	4.9B	1.9B	2.6B	-2.3B	4.9B	3.1B

Date	Ratio
Jun 13, 2007	10000:9865
Jul 10, 1998	3:1
May 18, 1992	4:1
Mar 6, 1986	4:1
Dec 6, 1977	1:1
Dec 16, 1976	103:100
Dec 15, 1975	103:100
Nov 29, 1974	102:100
Nov 27, 1973	102:100
Jan 16, 1973	2:1
Nov 24, 1971	102:100
Mar 1, 1971	2:1

The Walt Disney Company Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history