Walt Disney Financials
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Walt Disney has an operating margin of 18.6%, meaning the company retains $19 of operating profit per $100 of revenue. This strong profitability earns a score of 93/100, reflecting efficient cost management and pricing power. This is up from 17.1% the prior year.
Walt Disney's revenue grew a modest 3.4% year-over-year to $94.4B. This slow but positive growth earns a score of 38/100.
Walt Disney carries a low D/E ratio of 0.32, meaning only $0.32 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 99/100, indicating a strong balance sheet with room for future borrowing.
Walt Disney's current ratio of 0.71 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 8/100, which could limit financial flexibility.
Walt Disney has a free cash flow margin of 10.7%, earning a moderate score of 53/100. The company generates positive cash flow after capital investments, but with room for improvement.
Walt Disney's ROE of 11.3% shows moderate profitability relative to equity, earning a score of 45/100. This is up from 4.9% the prior year.
Walt Disney scores 2.42, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($186.8B) relative to total liabilities ($87.6B). This signals moderate financial risk that warrants monitoring.
Walt Disney passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Walt Disney generates $1.46 in operating cash flow ($18.1B OCF vs $12.4B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Walt Disney earns $9.7 in operating income for every $1 of interest expense ($17.6B vs $1.8B). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
This page shows Walt Disney (DIS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 10 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
Walt Disney generated $94.4B in revenue in fiscal year 2025. This represents an increase of 3.4% from the prior year.
Walt Disney's EBITDA was $22.9B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 11.1% from the prior year.
Walt Disney generated $10.1B in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 17.7% from the prior year.
Walt Disney reported $12.4B in net income in fiscal year 2025. This represents an increase of 149.5% from the prior year.
Walt Disney earned $6.85 per diluted share (EPS) in fiscal year 2025. This represents an increase of 151.8% from the prior year.
Walt Disney held $5.7B in cash against $35.3B in long-term debt as of fiscal year 2025.
Walt Disney had 1.79B shares outstanding in fiscal year 2025. This represents a decrease of 1.4% from the prior year.
Walt Disney's operating margin was 18.6% in fiscal year 2025, reflecting core business profitability. This is up 1.5 percentage points from the prior year.
Walt Disney's net profit margin was 13.1% in fiscal year 2025, showing the share of revenue converted to profit. This is up 7.7 percentage points from the prior year.
Walt Disney's ROE was 11.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 6.3 percentage points from the prior year.
Walt Disney spent $3.5B on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 17.0% from the prior year.
Walt Disney invested $8.0B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 48.3% from the prior year.
DIS Income Statement
| Metric | Q1'25 | Q3'25 | Q2'25 | Q1'24 | Q3'24 | Q2'24 | Q1'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $26.0B+9.9% | $23.6B+0.1% | $23.6B-4.3% | $24.7B+6.6% | $23.2B+4.9% | $22.1B-6.2% | $23.5B+5.5% | $22.3B |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $4.1B-0.5% | $4.1B+4.0% | $4.0B+1.3% | $3.9B+1.5% | $3.9B+2.2% | $3.8B+0.2% | $3.8B-2.3% | $3.9B |
| Operating Income | $4.6B+0.5% | $4.6B+3.1% | $4.4B-12.3% | $5.1B+19.8% | $4.2B+9.9% | $3.8B-0.8% | $3.9B+8.9% | $3.6B |
| Interest Expense | $443.0M+1.1% | $438.0M-7.0% | $471.0M-3.3% | $487.0M-4.3% | $509.0M+1.6% | $501.0M-5.1% | $528.0M+5.0% | $503.0M |
| Income Tax | $1.2B+144.3% | -$2.7B-770.1% | -$314.0M-130.9% | $1.0B+304.8% | $251.0M-43.1% | $441.0M-38.8% | $720.0M+3689.5% | $19.0M |
| Net Income | $2.4B-54.4% | $5.3B+60.7% | $3.3B+28.2% | $2.6B-2.6% | $2.6B+13205.0% | -$20.0M-101.0% | $1.9B+515.4% | -$460.0M |
| EPS (Diluted) | $1.34-54.1% | $2.92+61.3% | $1.81+29.3% | $1.40-2.1% | $1.43+14400.0% | $-0.01-101.0% | $1.04+516.0% | $-0.25 |
DIS Balance Sheet
| Metric | Q1'25 | Q3'25 | Q2'25 | Q1'24 | Q3'24 | Q2'24 | Q1'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $202.1B+2.8% | $196.6B+0.4% | $195.8B-0.6% | $197.0B+0.4% | $196.2B+0.6% | $195.1B-1.3% | $197.8B-3.8% | $205.6B |
| Current Assets | $25.5B+6.9% | $23.8B+4.8% | $22.7B-3.9% | $23.7B-6.2% | $25.2B+2.5% | $24.6B-5.1% | $26.0B-20.7% | $32.8B |
| Cash & Equivalents | $5.7B+5.8% | $5.4B-8.3% | $5.9B+6.7% | $5.5B-8.6% | $6.0B-9.5% | $6.6B-7.7% | $7.2B-49.3% | $14.2B |
| Inventory | $2.2B+3.7% | $2.1B+4.1% | $2.0B-0.9% | $2.0B-0.2% | $2.0B+3.8% | $1.9B-0.3% | $2.0B-0.5% | $2.0B |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $74.7B+1.9% | $73.3B0.0% | $73.3B0.0% | $73.3B0.0% | $73.3B-0.8% | $73.9B-4.1% | $77.1B0.0% | $77.1B |
| Total Liabilities | $93.6B+7.0% | $87.5B-4.4% | $91.5B-3.8% | $95.1B-0.4% | $95.5B-0.3% | $95.9B-1.2% | $97.1B-8.7% | $106.3B |
| Current Liabilities | $38.0B+15.4% | $33.0B-3.1% | $34.0B-2.3% | $34.8B+0.7% | $34.6B+5.2% | $32.9B+5.9% | $31.0B-0.3% | $31.1B |
| Long-Term Debt | $35.8B-1.9% | $36.5B+0.2% | $36.4B-5.8% | $38.7B-0.7% | $39.0B-1.4% | $39.5B-5.0% | $41.6B-1.2% | $42.1B |
| Total Equity | $108.5B-0.6% | $109.1B+4.6% | $104.3B+2.4% | $101.9B+1.2% | $100.7B+1.5% | $99.3B-1.5% | $100.7B+1.5% | $99.3B |
| Retained Earnings | $60.2B+1.8% | $59.1B+10.0% | $53.7B+6.5% | $50.5B+1.5% | $49.7B+6.6% | $46.6B-1.8% | $47.5B+3.0% | $46.1B |
DIS Cash Flow Statement
| Metric | Q1'25 | Q3'25 | Q2'25 | Q1'24 | Q3'24 | Q2'24 | Q1'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $735.0M-80.0% | $3.7B-45.7% | $6.8B+110.7% | $3.2B-41.9% | $5.5B+50.5% | $3.7B+67.8% | $2.2B-54.5% | $4.8B |
| Capital Expenditures | $3.0B+69.3% | $1.8B-4.4% | $1.9B-24.5% | $2.5B+65.6% | $1.5B+18.3% | $1.3B-3.1% | $1.3B-5.5% | $1.4B |
| Free Cash Flow | -$2.3B-220.6% | $1.9B-61.4% | $4.9B+561.8% | $739.0M-81.7% | $4.0B+67.4% | $2.4B+171.7% | $886.0M-74.2% | $3.4B |
| Investing Cash Flow | -$2.7B-59.1% | -$1.7B+9.4% | -$1.9B+26.3% | -$2.6B-30.2% | -$2.0B-51.3% | -$1.3B-4.9% | -$1.2B+9.8% | -$1.4B |
| Financing Cash Flow | $2.0B+178.2% | -$2.5B+44.3% | -$4.6B-357.0% | -$997.0M+72.0% | -$3.6B-26.5% | -$2.8B+64.8% | -$8.0B-1241.0% | -$597.0M |
| Dividends Paid | $898.0M | $0 | N/A | N/A | $817.0M | N/A | N/A | $0 |
| Share Buybacks | $2.0B+186.1% | $711.0M-28.3% | $991.0M+24.8% | $794.0M+69.3% | $469.0M-53.1% | $1.0B | $0 | $0 |
DIS Financial Ratios
| Metric | Q1'25 | Q3'25 | Q2'25 | Q1'24 | Q3'24 | Q2'24 | Q1'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 17.7%-1.6pp | 19.3%+0.6pp | 18.8%-1.7pp | 20.5%+2.2pp | 18.3%+0.8pp | 17.4%+1.0pp | 16.5%+0.5pp | 15.9% |
| Net Margin | 9.3%-13.0pp | 22.3%+8.4pp | 13.9%+3.5pp | 10.3%-1.0pp | 11.3%+11.4pp | -0.1%-8.2pp | 8.1%+10.2pp | -2.1% |
| Return on Equity | 2.2%-2.6pp | 4.8%+1.7pp | 3.1%+0.6pp | 2.5%-0.1pp | 2.6% | N/A | 1.9% | N/A |
| Return on Assets | 1.2%-1.5pp | 2.7%+1.0pp | 1.7%+0.4pp | 1.3%-0.0pp | 1.3%+1.3pp | -0.0%-1.0pp | 1.0%+1.2pp | -0.2% |
| Current Ratio | 0.67-0.1 | 0.72+0.1 | 0.67-0.0 | 0.68-0.1 | 0.73-0.0 | 0.75-0.1 | 0.84-0.2 | 1.05 |
| Debt-to-Equity | 0.330.0 | 0.33-0.0 | 0.35-0.0 | 0.380.0 | 0.39-0.0 | 0.40-0.0 | 0.41-0.0 | 0.42 |
| FCF Margin | -8.8%-16.8pp | 8.0%-12.7pp | 20.7%+17.7pp | 3.0%-2.4pp | 5.3%-5.6pp | 10.9%+7.1pp | 3.8%-3.6pp | 7.3% |
Note: The current ratio is below 1.0 (0.71), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Walt Disney's annual revenue?
Walt Disney (DIS) reported $94.4B in total revenue for fiscal year 2025. This represents a 3.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Walt Disney's revenue growing?
Walt Disney (DIS) revenue grew by 3.4% year-over-year, from $91.4B to $94.4B in fiscal year 2025.
Is Walt Disney profitable?
Yes, Walt Disney (DIS) reported a net income of $12.4B in fiscal year 2025, with a net profit margin of 13.1%.
What is Walt Disney's earnings per share (EPS)?
Walt Disney (DIS) reported diluted earnings per share of $6.85 for fiscal year 2025. This represents a 151.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Walt Disney's EBITDA?
Walt Disney (DIS) had EBITDA of $22.9B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Walt Disney have?
As of fiscal year 2025, Walt Disney (DIS) had $5.7B in cash and equivalents against $35.3B in long-term debt.
What is Walt Disney's operating margin?
Walt Disney (DIS) had an operating margin of 18.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Walt Disney's net profit margin?
Walt Disney (DIS) had a net profit margin of 13.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Walt Disney's return on equity (ROE)?
Walt Disney (DIS) has a return on equity of 11.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Walt Disney's free cash flow?
Walt Disney (DIS) generated $10.1B in free cash flow during fiscal year 2025. This represents a 17.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Walt Disney's operating cash flow?
Walt Disney (DIS) generated $18.1B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Walt Disney's total assets?
Walt Disney (DIS) had $197.5B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Walt Disney's capital expenditures?
Walt Disney (DIS) invested $8.0B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
Does Walt Disney buy back shares?
Yes, Walt Disney (DIS) spent $3.5B on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
How many shares does Walt Disney have outstanding?
Walt Disney (DIS) had 1.79B shares outstanding as of fiscal year 2025.
What is Walt Disney's current ratio?
Walt Disney (DIS) had a current ratio of 0.71 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Walt Disney's debt-to-equity ratio?
Walt Disney (DIS) had a debt-to-equity ratio of 0.32 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Walt Disney's return on assets (ROA)?
Walt Disney (DIS) had a return on assets of 6.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Walt Disney's Altman Z-Score?
Walt Disney (DIS) has an Altman Z-Score of 2.42, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Walt Disney's Piotroski F-Score?
Walt Disney (DIS) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Walt Disney's earnings high quality?
Walt Disney (DIS) has an earnings quality ratio of 1.46x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Walt Disney cover its interest payments?
Walt Disney (DIS) has an interest coverage ratio of 9.7x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Walt Disney?
Walt Disney (DIS) scores 56 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.