DIS
SP100NYSEThe Walt Disney Company
Communication Services · Entertainment · United States
The Walt Disney Company operates as an entertainment company in Americas, Europe, and the Asia Pacific. It operates in three segments: Entertainment, Sports, and Experiences. The company produces and distributes film and television content under the ABC Television Network, Disney, Freeform, FX, Fox, National Geographic, and Star brand television channels, as well as ABC television stations and A+E television networks; and produces original content under the Disney Branded Television, FX Productions, Lucasfilm, Marvel, National Geographic Studios, Pixar, Searchlight Pictures, Twentieth Century Studios, 20th Television, and Walt Disney Pictures banners. It also provides direct-to-consumer streaming services through Disney+, Disney+ Hotstar, and Hulu; sports-related video streaming content through ESPN, ESPN on ABC, ESPN+ DTC, and Star; sale/licensing of film and episodic content to television and video-on-demand services; theatrical, home entertainment, and music distribution services; DVD and Blu-ray discs, electronic home video licenses, and VOD rental services; staging and licensing of live entertainment events; and post-production services. In addition, the company operates theme parks and resorts, such as Walt Disney World Resort, Disneyland Resort, Disneyland Paris, Hong Kong Disneyland Resort, Shanghai Disney Resort, Disney Cruise Line, Disney Vacation Club, National Geographic Expeditions, and Adventures by Disney, as well as Aulani, a Disney resort and spa in Hawaii. Further, it licenses its intellectual property (IP) to a third party that owns and operates Tokyo Disney Resort; licenses trade names, characters, visual, literary, and other IP for use on merchandise, published materials, and games; operates a direct-to-home satellite distribution platform; sells branded merchandise through retail, online, and wholesale businesses; and develops and publishes books, comic books, and magazines. The company was founded in 1923 and is based in Burbank, California.
thewaltdisneycompany.com ↗Shares trade at a moderate 15.9× trailing earnings, easing to 13.3× on forward estimates. Profitability shows a net margin of 11.5% and return on equity of 11.0%. Leverage is elevated at 2.1× net debt/EBITDA. Revenue grew 6.5% year-on-year. It yields 1.5% in dividends. The mean analyst target of USD129.67 sits 30.3% above the current price (Strong Buy, 29 analysts).
business model
The Walt Disney Company is a diversified media and entertainment company that monetizes intellectual property across streaming and linear networks, theatrical film, theme parks, resorts, cruises, and consumer products. Its flywheel reuses franchises across content, parks, and merchandise. Revenue mixes advertising, subscriptions, affiliate fees, admissions, and licensing.
revenue segments
Reporting segments are Entertainment (streaming via Disney+ and Hulu, linear networks, and content sales/licensing), Sports (ESPN networks and ESPN+), and Experiences (domestic and international theme parks, resorts, cruise line, and consumer products licensing). Experiences is a major profit contributor while streaming has been scaling toward profitability.
key dependencies
The business depends on content quality and franchise appeal, subscriber growth and pricing in streaming, theme-park attendance and consumer discretionary spending, advertising markets, and the secular decline of linear TV. Sports rights costs and ESPN's direct-to-consumer transition are important drivers.
competitors
Competitors include Netflix, Amazon Prime Video, Warner Bros. Discovery, Comcast/NBCUniversal (Peacock), Paramount, Apple, and YouTube in media and streaming; and Universal, Comcast, and other operators in theme parks. In sports it competes for rights and viewers with multiple networks and tech platforms.
moat
Disney's moat is its unmatched library of intellectual property and franchises (Disney, Pixar, Marvel, Star Wars, ESPN), brand strength, and irreplaceable theme-park assets that create pricing power and cross-platform monetization. Scale in content production and distribution reinforces the flywheel.
risks
Risks include accelerating cord-cutting and linear decline, streaming profitability and competitive intensity, high content and sports-rights costs, cyclicality in theme-park demand, execution and succession/leadership questions, and content or franchise underperformance.
Financials & metrics
as of 28 Aug 2026Price is around the middle of its range. Green = nearer the yearly low, red = nearer the high — a position indicator, not a buy/sell signal.
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Full financial statements
Income statement
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total revenue | $94.42B | $91.36B | $88.90B | $82.72B | — |
| Cost of revenue | $58.77B | $58.70B | $59.20B | $54.40B | — |
| Gross profit | $35.66B | $32.66B | $29.70B | $28.32B | — |
| Operating expense | $21.83B | $20.75B | $20.70B | $21.55B | — |
| Operating income | $13.83B | $11.91B | $8.99B | $6.77B | — |
| Interest expense | $1.81B | $2.07B | $1.97B | $1.55B | — |
| Pretax income | $12.00B | $7.57B | $4.77B | $5.29B | — |
| Tax provision | -$1.43B | $1.80B | $1.38B | $1.73B | — |
| Net income | $12.40B | $4.97B | $2.35B | $3.15B | — |
| EBITDA | $19.14B | $14.63B | $12.11B | $12.00B | — |
| Diluted EPS | $6.85 | $2.72 | $1.29 | $1.72 | — |
Balance sheet
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total assets | $197.51B | $196.22B | $205.58B | $203.63B | — |
| Current assets | $24.27B | $25.24B | $32.76B | $29.10B | — |
| Cash & equivalents | $5.70B | $6.00B | $14.18B | $11.62B | — |
| Inventory | $2.13B | $2.02B | $1.96B | $1.74B | — |
| Total liabilities | $82.90B | $90.70B | $92.57B | $95.25B | — |
| Current liabilities | $34.16B | $34.60B | $31.14B | $29.07B | — |
| Total debt | $44.88B | $48.74B | $49.90B | $51.61B | — |
| Long-term debt | $35.31B | $38.97B | $42.10B | $45.30B | — |
| Shareholders' equity | $109.87B | $100.70B | $99.28B | $95.01B | — |
| Retained earnings | $60.41B | $49.72B | $46.09B | $43.64B | — |
| Working capital | -$9.89B | -$9.36B | $1.62B | $25.00M | — |
Cash flow
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating cash flow | $18.10B | $13.97B | $9.87B | $6.01B | — |
| Investing cash flow | -$8.04B | -$6.88B | -$4.64B | -$5.01B | — |
| Financing cash flow | -$10.37B | -$15.29B | -$2.72B | -$4.74B | — |
| Capital expenditure | -$8.02B | -$5.41B | -$4.97B | -$4.94B | — |
| Free cash flow | $10.08B | $8.56B | $4.90B | $1.07B | — |
| Dividends paid | -$1.80B | -$1.37B | $0.00 | $0.00 | — |
| Share buybacks | -$3.50B | -$2.99B | $0.00 | $0.00 | — |
| End cash position | $5.80B | $6.10B | $14.23B | $11.66B | — |
Reported figures from public filings via Yahoo Finance. Line coverage varies by company. Not investment advice.
Dividends
Analyst assessment
as of 28 Aug 2026Aggregate consensus only. Named per-analyst targets require a premium source and are not shown; the data model is ready to hold them if one is added.
Technicals
as of 27 Aug 2026News
Sector peers
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