Walt Disney Company Financials
Walt Disney Company (DIS) reported $94.4B in revenue for fiscal year 2025, up 3.4% from the prior fiscal year. This page shows its 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).
Disney’s dominant mechanic is operating improvement funding capital returns while near-term liquidity remains below one.
From FY2023 to FY2025, operating margin expanded from14.5% to18.6% while revenue rose only from$88.9B to$94.4B , indicating that profitability improved through better conversion of sales rather than sheer volume. The FY2025 net margin of13.1% also benefited from a reported negative income-tax expense of-$1.4B , so the bottom-line jump was larger than the operating improvement alone would suggest.
Cash conversion strengthened materially: FY2025 operating cash flow reached
The balance sheet is less debt-funded but more short-term constrained. Debt-to-equity fell from 0.4x in FY2023 to 0.3x in FY2025, while the current ratio declined from 1.1x to 0.7x; simultaneously, FY2025 financing outflows of
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Walt Disney Company's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Walt Disney Company 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 83/100, reflecting efficient cost management and pricing power. This is up from 17.1% the prior year.
Walt Disney Company's revenue grew a modest 3.4% year-over-year to $94.4B. This slow but positive growth earns a score of 43/100.
Walt Disney Company has a moderate D/E ratio of 0.32. This balance of debt and equity financing earns a leverage score of 41/100.
Walt Disney Company's current ratio of 0.71 is below the typical benchmark, resulting in a score of 9/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Walt Disney Company converts 10.7% of revenue into free cash flow ($10.1B). This strong cash generation earns a score of 65/100.
Walt Disney Company earns a strong 11.3% return on equity (ROE), meaning it generates $11 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 69/100. This is up from 4.9% the prior year.
Walt Disney Company scores 2.40, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($184.7B) relative to total liabilities ($87.6B). This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Walt Disney Company passes 7 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 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 Company 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 Company earns $9.69 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.
Key Financial Metrics
Earnings & Revenue
Walt Disney Company generated $94.4B in revenue in fiscal year 2025. This represents an increase of 3.4% from the prior year.
Walt Disney Company'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 Company reported $12.4B in net income in fiscal year 2025. This represents an increase of 149.5% from the prior year.
Walt Disney Company earned $6.85 per diluted share (EPS) in fiscal year 2025. This represents an increase of 151.8% from the prior year.
Cash & Balance Sheet
Walt Disney Company 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 Company held $5.7B in cash against $35.3B in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Walt Disney Company'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 Company'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 Company'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.
Not reported for fiscal year 2025.
Capital Allocation
Walt Disney Company 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 Company 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.
Not reported for fiscal year 2025.
DIS Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $98.9B | $94.4B+3.4% | $91.4B+2.8% | $88.9B+7.5% | $82.7B+22.7% | $67.4B+3.1% | $65.4B-6.1% | $69.6B+17.1% | $59.4B+7.8% | $55.1B-0.9% | $55.6B |
| SG&A Expenses | $16.6B | $16.5B+4.7% | $15.8B+2.8% | $15.3B-6.4% | $16.4B+21.2% | $13.5B+9.3% | $12.4B+7.1% | $11.5B+30.3% | $8.9B+8.4% | $8.2B-6.6% | $8.8B |
| Operating Income | $18.2B | $17.6B+12.5% | $15.6B+21.3% | $12.9B+6.1% | $12.1B+56.1% | $7.8B-4.2% | $8.1B-45.4% | $14.8B-5.4% | $15.7B+6.2% | $14.8B-6.0% | $15.7B |
| Interest Expense | -$1.8B | -$1.8B+12.5% | -$2.1B-4.9% | -$2.0B-27.4% | -$1.5B-0.2% | -$1.5B-193.9% | $1.6B+32.2% | $1.2B+82.7% | $682.0M+34.5% | $507.0M+43.2% | $354.0M |
| Income Tax | $3.5B | -$1.4B-179.5% | $1.8B+30.2% | $1.4B-20.4% | $1.7B+6828.0% | $25.0M-96.4% | $699.0M-76.9% | $3.0B+82.0% | $1.7B-62.4% | $4.4B-12.9% | $5.1B |
| Net Income | $8.6B | $12.4B+149.5% | $5.0B+111.2% | $2.4B-25.2% | $3.1B+57.6% | $2.0B+169.7% | -$2.9B-125.9% | $11.1B-12.3% | $12.6B+40.3% | $9.0B-4.4% | $9.4B |
| EPS (Diluted) | — | $6.85+151.8% | $2.72+110.9% | $1.29-25.0% | $1.72+57.8% | $1.09+169.0% | -$1.58-123.8% | $6.64-20.6% | $8.36+46.9% | $5.69-0.7% | $5.73 |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.
TTM is the trailing twelve months, Q4 FY2025 through Q3 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
DIS Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $197.5B+0.7% | $196.2B-4.6% | $205.6B+1.0% | $203.6B0.0% | $203.6B+1.0% | $201.5B+3.9% | $194.0B+96.7% | $98.6B+2.9% | $95.8B | N/A |
| Current Assets | $24.3B-3.9% | $25.2B-23.0% | $32.8B+12.6% | $29.1B-13.5% | $33.7B-4.5% | $35.3B+25.3% | $28.1B+67.2% | $16.8B+5.9% | $15.9B | N/A |
| Cash & Equivalents | $5.7B-5.1% | $6.0B-57.7% | $14.2B+22.1% | $11.6B-27.2% | $16.0B-10.9% | $17.9B+230.6% | $5.4B+30.6% | $4.2B+3.3% | $4.0B-12.9% | $4.6B |
| Inventory | $2.1B+5.5% | $2.0B+3.0% | $2.0B+12.7% | $1.7B+30.9% | $1.3B-15.9% | $1.6B-4.0% | $1.6B+18.5% | $1.4B+1.4% | $1.4B | N/A |
| Goodwill | $73.3B0.0% | $73.3B-4.9% | $77.1B-1.1% | $77.9B-0.2% | $78.1B+0.5% | $77.7B-3.2% | $80.3B+156.8% | $31.3B-0.5% | $31.4B+13.0% | $27.8B |
| Total Liabilities | $87.6B-8.2% | $95.5B-10.1% | $106.3B-2.1% | $108.6B-5.6% | $115.1B-2.5% | $118.0B+12.2% | $105.1B+111.0% | $49.8B-8.5% | $54.5B | N/A |
| Current Liabilities | $34.2B-1.3% | $34.6B+11.1% | $31.1B+7.1% | $29.1B-6.4% | $31.1B+16.7% | $26.6B-15.0% | $31.3B+75.5% | $17.9B-8.9% | $19.6B | N/A |
| Long-Term Debt | $35.3B-9.4% | $39.0B-7.4% | $42.1B-7.1% | $45.3B-6.7% | $48.5B-8.3% | $52.9B+38.8% | $38.1B+123.2% | $17.1B-10.6% | $19.1B | N/A |
| Total Equity | $109.9B+9.1% | $100.7B+1.4% | $99.3B+4.5% | $95.0B+7.3% | $88.6B+5.9% | $83.6B-6.0% | $88.9B+82.2% | $48.8B+18.1% | $41.3B | N/A |
| Retained Earnings | $60.4B+21.5% | $49.7B+7.9% | $46.1B+5.6% | $43.6B+7.9% | $40.4B+5.5% | $38.3B-9.8% | $42.5B-48.6% | $82.7B+13.9% | $72.6B | N/A |
Not reported in any period shown, so not listed: Accounts Receivable.
DIS Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $17.0B | $18.1B+29.6% | $14.0B+41.6% | $9.9B+64.4% | $6.0B+7.8% | $5.6B-26.9% | $7.6B+27.3% | $6.0B-58.1% | $14.3B+15.8% | $12.3B-6.0% | $13.1B |
| Capital Expenditures | $8.7B | $8.0B+48.3% | $5.4B+8.9% | $5.0B+0.5% | $4.9B+38.1% | $3.6B-11.0% | $4.0B-17.5% | $4.9B+9.2% | $4.5B+23.2% | $3.6B-24.1% | $4.8B |
| Free Cash Flow | $8.3B | $10.1B+17.7% | $8.6B+74.8% | $4.9B+362.4% | $1.1B-46.7% | $2.0B-44.7% | $3.6B+224.4% | $1.1B-88.7% | $9.8B+12.7% | $8.7B+4.3% | $8.4B |
| Investing Cash Flow | -$9.1B | -$8.0B-16.9% | -$6.9B-48.3% | -$4.6B+7.3% | -$5.0B | N/A | N/A | N/A | -$5.3B-29.8% | -$4.1B+28.6% | -$5.8B |
| Financing Cash Flow | -$8.0B | -$10.4B+32.2% | -$15.3B-461.2% | -$2.7B | N/A | N/A | N/A | N/A | -$8.8B+1.3% | -$9.0B-24.1% | -$7.2B |
| Dividends Paid | N/A | $1.8B+32.0% | $1.4B | $0 | $0 | $0-100.0% | $1.6B-45.2% | $2.9B+15.1% | $2.5B+2.9% | $2.4B+5.7% | $2.3B |
| Share Buybacks | $8.2B | $3.5B+17.0% | $3.0B | $0 | $0 | N/A | $0 | $0-100.0% | $3.6B-61.8% | $9.4B+24.9% | $7.5B |
TTM is the trailing twelve months, Q4 FY2025 through Q3 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
DIS Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 18.6%+1.5pp | 17.1%+2.6pp | 14.5%-0.2pp | 14.6%+3.1pp | 11.5%-0.9pp | 12.4%-8.9pp | 21.3%-5.1pp | 26.4%-0.4pp | 26.8%-1.5pp | 28.3% |
| Net Margin | 13.1%+7.7pp | 5.4%+2.8pp | 2.6%-1.1pp | 3.8%+0.8pp | 3.0%+7.3pp | -4.4%-20.3pp | 15.9%-5.3pp | 21.2%+4.9pp | 16.3%-0.6pp | 16.9% |
| Return on Equity | 11.3%+6.3pp | 4.9%+2.6pp | 2.4%-0.9pp | 3.3%+1.1pp | 2.3%+5.7pp | -3.4%-15.9pp | 12.4%-13.4pp | 25.8%+4.1pp | 21.7% | N/A |
| Return on Assets | 6.3%+3.7pp | 2.5%+1.4pp | 1.1%-0.4pp | 1.5%+0.6pp | 1.0%+2.4pp | -1.4%-7.1pp | 5.7%-7.1pp | 12.8%+3.4pp | 9.4% | N/A |
| Current Ratio | 0.710.0x | 0.73-0.3x | 1.05+0.1x | 1.00-0.1x | 1.08-0.2x | 1.32+0.4x | 0.900.0x | 0.94+0.1x | 0.81 | N/A |
| Debt-to-Equity | 0.32-0.1x | 0.390.0x | 0.42-0.1x | 0.48-0.1x | 0.55-0.1x | 0.63+0.2x | 0.43+0.1x | 0.35-0.1x | 0.46 | N/A |
| FCF Margin | 10.7%+1.3pp | 9.4%+3.9pp | 5.5%+4.2pp | 1.3%-1.7pp | 2.9%-2.6pp | 5.5%+3.9pp | 1.6%-14.9pp | 16.5%+0.7pp | 15.8%+0.8pp | 15.0% |
Not reported in any period shown, so not listed: Gross Margin.
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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Where Walt Disney Company Ranks
Frequently Asked Questions
What is Walt Disney Company's annual revenue?
Walt Disney Company (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 Company's revenue growing?
Walt Disney Company (DIS) revenue grew by 3.4% year-over-year, from $91.4B to $94.4B in fiscal year 2025.
Is Walt Disney Company profitable?
Yes, Walt Disney Company (DIS) reported a net income of $12.4B in fiscal year 2025, with a net profit margin of 13.1%.
What is Walt Disney Company's EBITDA?
Walt Disney Company (DIS) had EBITDA of $22.9B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Walt Disney Company have?
As of fiscal year 2025, Walt Disney Company (DIS) had $5.7B in cash and equivalents against $35.3B in long-term debt.
What is Walt Disney Company's operating margin?
Walt Disney Company (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 Company's net profit margin?
Walt Disney Company (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 Company's return on equity (ROE)?
Walt Disney Company (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 Company's free cash flow?
Walt Disney Company (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 Company's operating cash flow?
Walt Disney Company (DIS) generated $18.1B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Walt Disney Company's total assets?
Walt Disney Company (DIS) had $197.5B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Walt Disney Company's capital expenditures?
Walt Disney Company (DIS) invested $8.0B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Walt Disney Company's current ratio?
Walt Disney Company (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 Company's debt-to-equity ratio?
Walt Disney Company (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 Company's return on assets (ROA)?
Walt Disney Company (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 Company's Altman Z-Score?
Walt Disney Company (DIS) has an Altman Z-Score of 2.40, 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 Company's Piotroski F-Score?
Walt Disney Company (DIS) has a Piotroski F-Score of 7 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Walt Disney Company's earnings high quality?
Walt Disney Company (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 Company cover its interest payments?
Walt Disney Company (DIS) has an interest coverage ratio of 9.69x, 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 Company?
Walt Disney Company (DIS) scores 52 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.