DISNYSEServices-Miscellaneous Amusement & RecreationFiscal year ends October 3
Walt Disney Co
Financials through Q3 FY2026, quarter ended Jun 27, 2026Last filing: 10-Q on Aug 5, 2026
$109.59−1.00 (-0.90%)
Close on Oct 19, 2026
- Market cap
- $191.02B
- P/E (TTM)
- 22.6
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2016 to 2025
Operating margin
18.6%+6.2 pts over 5 years
Net margin
13.1%+17.5 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +3.4% | +4.5% | +7.6% | – | |
| Operating income | +12.5% | +13.1% | +16.7% | – | |
| Net income | +149.5% | +58.0% | – | – | |
| EPS, diluted | +151.8% | +58.5% | – | – | |
| Free cash flow | +17.7% | +111.9% | +22.9% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | -3.3% | 11.8% | |
| Return on assets | – | -1.4% | 6.3% | |
| Current ratio | – | 1.32 | 0.71 | |
| Debt to equity | – | 0.70 | 0.38 | |
| Net debt to EBITDA | – | 3.02× | 1.59× | |
| Interest coverage | – | 4.9× | -9.7× | |
| Capex to revenue | – | 6.2% | 8.5% | |
| Diluted shares | – | 1.81B | 1.81B |
Where the cash went
Fiscal 2021 to 2025, five years combined
Walt Disney generated $53.51B from operations and spent $36.59B on capital expenditure, dividends and share buybacks. 74% of that went back into the business.
Generated
$53.51B
Used
$36.59B
Capital expenditure$26.93B74%Dividends$3.17B9%Share buybacks$6.49B18%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin13.1%
×Asset turnover0.48×
×Equity multiplier1.87×
=Return on equity, FY202511.8%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 13.1% | 0.48× | 1.87× | 11.8% |
| FY2024 | 5.4% | 0.45× | 2.01× | 5.0% |
| FY2023 | 2.6% | 0.43× | 2.11× | 2.4% |
| FY2022 | 3.8% | 0.41× | 2.22× | 3.4% |
| FY2021 | 3.0% | 0.33× | 2.35× | 2.3% |
| FY2020 | -4.4% | 0.33× | 2.29× | -3.3% |
| FY2019 | 15.9% | 0.48× | 2.13× | 16.1% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
7of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$12.40B
- Cash generatingOperating cash flow above zero$18.10B
- Return on assets improvedROA up on the prior year2.4% → 6.3%
- Earnings backed by cashOperating cash flow above net income$18.10B vs $12.40B
- Less leverageLong-term debt to assets fell19.9% → 17.9%
- Better liquidityCurrent ratio rose0.73 → 0.71
- No dilutionShare count did not rise1.83B → 1.81B
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.44 → 0.48