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Stocks · Consumer discretionary · Services-Miscellaneous Amusement & Recreation

Walt Disney Company (The)

DIS Clue Score71
United States Fiscal year ends October CIK 0001744489
$108.05 +0.96% Close, 9 Oct 2026
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Price $108.05 −37.73% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2017Revenue55.14Operating income14.78Net income8.98EPS, diluted5.69Fiscal year 2018Revenue59.43 +7.8%Operating income15.69Net income12.60 +40.3%EPS, diluted8.36 +46.9%Fiscal year 2019Revenue69.61 +17.1%Operating income14.85Net income11.05 −12.3%EPS, diluted6.64 −20.6%Fiscal year 2020Revenue65.39 −6.1%Operating income8.11Net income−2.86 −125.9%EPS, diluted−1.58 −123.8%Fiscal year 2021Revenue67.42 +3.1%Operating income7.77Net income2.00EPS, diluted1.09Fiscal year 2022Revenue82.72 +22.7%Operating income12.12Net income3.15 +57.6%EPS, diluted1.72 +57.8%Fiscal year 2023Revenue88.90 +7.5%Operating income12.86Net income2.35 −25.2%EPS, diluted1.29 −25.0%Fiscal year 2024Revenue91.36 +2.8%Operating income15.60Net income4.97 +111.2%EPS, diluted2.72 +110.9%Fiscal year 2025Revenue94.43 +3.4%Operating income17.55Net income12.40 +149.5%EPS, diluted6.85 +151.8%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 55.14 59.43 69.61 65.39 67.42 82.72 88.90 91.36 94.43
Growth +7.8% +17.1% −6.1% +3.1% +22.7% +7.5% +2.8% +3.4%
Operating income 14.78 15.69 14.85 8.11 7.77 12.12 12.86 15.60 17.55
Net income 8.98 12.60 11.05 −2.86 2.00 3.15 2.35 4.97 12.40
Growth +40.3% −12.3% −125.9% +57.6% −25.2% +111.2% +149.5%
EPS, diluted 5.69 8.36 6.64 −1.58 1.09 1.72 1.29 2.72 6.85
Growth +46.9% −20.6% −123.8% +57.8% −25.0% +110.9% +151.8%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2017Operating margin26.8%Net margin16.3%Fiscal year 2018Operating margin26.4%Net margin21.2%Fiscal year 2019Operating margin21.3%Net margin15.9%Free cash flow margin1.6%Fiscal year 2020Operating margin12.4%Net margin−4.4%Free cash flow margin5.5%Fiscal year 2021Operating margin11.5%Net margin3.0%Free cash flow margin2.9%Fiscal year 2022Operating margin14.7%Net margin3.8%Free cash flow margin1.3%Fiscal year 2023Operating margin14.5%Net margin2.6%Free cash flow margin5.5%Fiscal year 2024Operating margin17.1%Net margin5.4%Free cash flow margin9.4%Fiscal year 2025Operating margin18.6%Net margin13.1%Free cash flow margin10.7%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 26.8% 26.4% 21.3% 12.4% 11.5% 14.7% 14.5% 17.1% 18.6%
Net margin 16.3% 21.2% 15.9% −4.4% 3.0% 3.8% 2.6% 5.4% 13.1%
Free cash flow margin n/a n/a 1.6% 5.5% 2.9% 1.3% 5.5% 9.4% 10.7%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2017Capital expenditure−3.62Buybacks−9.37Dividends paid−2.45Fiscal year 2018Capital expenditure−4.47Buybacks−3.58Dividends paid−2.52Fiscal year 2019Operating cash flow5.98Capital expenditure−4.88Free cash flow1.11Buybacks0.00Dividends paid−2.90Fiscal year 2020Operating cash flow7.62Capital expenditure−4.02Free cash flow3.59 +224.4%Buybacks0.00Dividends paid−1.59Fiscal year 2021Operating cash flow5.57Capital expenditure−3.58Free cash flow1.99 −44.7%Dividends paid0.00Fiscal year 2022Operating cash flow6.00Capital expenditure−4.94Free cash flow1.06 −46.7%Buybacks0.00Dividends paid0.00Fiscal year 2023Operating cash flow9.87Capital expenditure−4.97Free cash flow4.90 +362.4%Buybacks0.00Dividends paid0.00Fiscal year 2024Operating cash flow13.97Capital expenditure−5.41Free cash flow8.56 +74.8%Buybacks−2.99Dividends paid−1.37Fiscal year 2025Operating cash flow18.10Capital expenditure−8.02Free cash flow10.08 +17.7%Buybacks−3.50Dividends paid−1.80
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow n/a n/a 5.98 7.62 5.57 6.00 9.87 13.97 18.10
Capital expenditure −3.62 −4.47 −4.88 −4.02 −3.58 −4.94 −4.97 −5.41 −8.02
Free cash flow n/a n/a 1.11 3.59 1.99 1.06 4.90 8.56 10.08
Growth +224.4% −44.7% −46.7% +362.4% +74.8% +17.7%
Buybacks −9.37 −3.58 0.00 0.00 n/a 0.00 0.00 −2.99 −3.50
Dividends paid −2.45 −2.52 −2.90 −1.59 0.00 0.00 0.00 −1.37 −1.80

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2017Cash4.02Total debt25.29Net cash (debt)−21.27Shareholders’ equity41.32Debt to equity0.61Fiscal year 2018Cash4.15Total debt20.87Net cash (debt)−16.72Shareholders’ equity48.77Debt to equity0.43Fiscal year 2019Cash5.42Total debt46.99Net cash (debt)−41.57Shareholders’ equity88.88Debt to equity0.53Fiscal year 2020Cash17.91Total debt58.63Net cash (debt)−40.71Shareholders’ equity83.58Debt to equity0.70Fiscal year 2021Cash15.96Total debt54.41Net cash (debt)−38.45Shareholders’ equity88.55Debt to equity0.61Fiscal year 2022Cash11.62Total debt48.37Net cash (debt)−36.75Shareholders’ equity95.01Debt to equity0.51Fiscal year 2023Cash14.18Total debt46.43Net cash (debt)−32.25Shareholders’ equity99.28Debt to equity0.47Fiscal year 2024Cash6.00Total debt45.82Net cash (debt)−39.81Shareholders’ equity100.70Debt to equity0.45Fiscal year 2025Cash5.70Total debt42.03Net cash (debt)−36.33Shareholders’ equity109.87Debt to equity0.38
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 4.02 4.15 5.42 17.91 15.96 11.62 14.18 6.00 5.70
Total debt 25.29 20.87 46.99 58.63 54.41 48.37 46.43 45.82 42.03
Net cash (debt) −21.27 −16.72 −41.57 −40.71 −38.45 −36.75 −32.25 −39.81 −36.33
Shareholders’ equity 41.32 48.77 88.88 83.58 88.55 95.01 99.28 100.70 109.87
Debt to equity 0.61 0.43 0.53 0.70 0.61 0.51 0.47 0.45 0.38

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending September, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2017 30 Sep 2017 FY2018 29 Sep 2018 FY2019 28 Sep 2019 FY2020 3 Oct 2020 FY2021 2 Oct 2021 FY2022 1 Oct 2022 FY2023 30 Sep 2023 FY2024 28 Sep 2024 FY2025 27 Sep 2025
Margins
26.8% 26.4% 21.3% 12.4% 11.5% 14.7% 14.5% 17.1% 18.6%
25.0% 24.8% 20.0% −2.7% 3.8% 6.4% 5.4% 8.3% 12.7%
16.3% 21.2% 15.9% −4.4% 3.0% 3.8% 2.6% 5.4% 13.1%
n/a n/a 1.6% 5.5% 2.9% 1.3% 5.5% 9.4% 10.7%
Spending
14.8% 14.9% 16.6% 18.9% 20.0% 19.8% 17.3% 17.2% 17.5%
6.6% 7.5% 7.0% 6.2% 5.3% 6.0% 5.6% 5.9% 8.5%
32.1% 11.3% 21.7% n/a 1.0% 32.8% 28.9% 23.7% −11.9%
Returns
21.7% 25.8% 12.4% −3.4% 2.3% 3.3% 2.4% 4.9% 11.3%
9.4% 12.8% 5.7% −1.4% 1.0% 1.5% 1.1% 2.5% 6.3%
Balance and payout
0.61 0.43 0.53 0.70 0.61 0.51 0.47 0.45 0.38
27.2% 20.0% 26.2% n/a 0.0% 0.0% 0.0% 27.5% 14.5%
n/a n/a 261.3% 44.2% 0.0% 0.0% 0.0% 50.9% 52.6%