Explain this page
Arphra AIPlain-English read on The Walt Disney Company’s valuationRatios & metrics
Profitability, returns on capital, growth, and credit — all derived from the historical income statement, balance sheet, and cash flow rows in our data warehouse.
Valuation multiples
Price- and EV-based multiples plus shareholder yields. Snapshot at each fiscal year-end from key_metrics (FMP).
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Headline | |||||||||
| Market cap | — | — | — | — | — | — | — | — | — |
| Enterprise value | — | — | — | — | — | — | — | — | — |
| Multiples | |||||||||
| P / E | — | — | — | — | — | — | — | — | — |
| P / B | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| EV / Sales | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — |
| Yields | |||||||||
| Earnings yield | — | — | — | — | — | — | — | — | — |
| Free cash flow yield | — | — | — | — | — | — | — | — | — |
| Dividend yield | — | — | — | — | — | — | — | — | — |
Profitability
Margin structure across the last 5 fiscal years
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Margins | |||||||||
| Gross margin | +33.06% | +34.24% | +33.41% | +35.75% | +37.76% | +36.63% | +36.00% | +35.77% | +34.96% |
| Operating margin | +5.43% | +8.18% | +10.11% | +13.04% | +14.65% | +12.80% | +12.75% | +12.81% | +12.25% |
| EBITDA margin | +13.47% | +14.50% | +13.62% | +16.01% | +20.27% | +16.49% | +16.92% | +16.46% | +16.36% |
| EBIT margin | +5.88% | +8.26% | +7.58% | +10.55% | +14.63% | +11.02% | +11.24% | +10.85% | +11.02% |
| Pre-tax margin | +3.80% | +6.39% | +5.36% | +8.28% | +12.71% | +9.01% | +8.83% | +9.00% | +8.53% |
| Net margin | +2.96% | +3.80% | +2.65% | +5.44% | +13.14% | +6.89% | +7.16% | +6.90% | +7.23% |
| Cost structure | |||||||||
| Cost of revenue / sales | +66.94% | +65.76% | +66.59% | +64.25% | +62.24% | +65.90% | +65.17% | +63.43% | +62.55% |
| R&D intensity | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| SG&A intensity | +20.05% | +19.81% | +17.25% | +17.25% | +17.48% | +17.26% | +17.38% | +17.46% | +17.20% |
| Effective tax rate | +0.98% | +32.77% | +28.92% | +23.73% | -11.90% | +25.27% | +26.25% | +24.96% | +26.80% |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Returns | |||||||||
| Return on equity (ROE) | +1.95% | +2.90% | +2.08% | +4.71% | +10.82% | +5.58% | +5.95% | +5.77% | +6.03% |
| Return on assets (ROA) | +0.98% | +1.54% | +1.15% | +2.53% | +6.28% | +3.12% | +3.20% | +3.20% | +3.31% |
| Return on capital (ROC) | +2.28% | +4.21% | +5.49% | +7.68% | +8.67% | +7.30% | +7.35% | +7.45% | +7.09% |
| Return on invested capital (ROIC) | +1.24% | +1.96% | +1.44% | +3.21% | +7.78% | +3.93% | +4.12% | +4.02% | +4.19% |
| Asset turnover | +33.11% | +40.62% | +43.24% | +46.56% | +47.81% | +45.28% | +44.74% | +46.31% | +45.74% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +2.96% | +3.80% | +2.65% | +5.44% | +13.14% | +6.89% | +7.16% | +6.90% | +7.23% |
| Asset turnover (× revenue / assets) | +33.11% | +40.62% | +43.24% | +46.56% | +47.81% | +45.28% | +44.74% | +46.31% | +45.74% |
| Equity multiplier (× assets / equity) | +199.18% | +187.89% | +181.91% | +185.95% | +172.33% | +178.82% | +185.87% | +180.35% | +182.30% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Turnover | |||||||||
| Asset turnover | 0.33 | 0.41 | 0.43 | 0.47 | 0.48 | 0.45 | 0.45 | 0.46 | 0.46 |
| Fixed-asset turnover | 2.07 | 2.46 | 2.54 | 2.47 | 2.29 | — | — | — | — |
| Inventory turnover | 33.91 | 31.23 | 30.16 | 29.03 | 27.54 | — | — | — | — |
| Receivables turnover | 5.04 | 6.54 | 7.21 | 7.18 | 7.14 | — | — | — | — |
| Payables turnover | 2.76 | 3.36 | 3.91 | 3.97 | 3.90 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 72.37 | 55.83 | 50.62 | 50.85 | 51.09 | — | — | — | — |
| Days inventory outstanding (DIO) | 10.76 | 11.69 | 12.10 | 12.57 | 13.25 | — | — | — | — |
| Days payables outstanding (DPO) | 132.29 | 108.73 | 93.25 | 92.01 | 93.51 | — | — | — | — |
| Cash conversion cycle | -49.16 | -41.21 | -30.52 | -28.58 | -29.16 | — | — | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | 2.79 | 1.91 | 4.19 | 2.81 | 1.46 | 2.17 | 2.10 | 2.18 | 2.05 |
| FCF / Net income | 1.00 | 0.34 | 2.08 | 1.72 | 0.81 | 1.20 | 1.19 | 1.26 | 1.17 |
| FCF margin | +2.95% | +1.29% | +5.51% | +9.37% | +10.67% | +8.29% | +8.52% | +8.73% | +8.49% |
| OCF margin | +8.26% | +7.27% | +11.10% | +15.29% | +19.17% | +14.96% | +15.02% | +15.07% | +14.81% |
| CapEx / Revenue | +5.31% | +5.98% | +5.59% | +5.92% | +8.50% | +6.86% | +6.64% | +6.83% | +6.48% |
| CapEx / D&A | 0.70 | 0.96 | 0.93 | 1.08 | 1.51 | — | — | — | — |
| Stock-based comp / Revenue | +0.89% | +1.18% | +1.29% | +1.50% | +1.44% | — | — | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| EPS · diluted | 1.09 | 1.72 | 1.29 | 2.72 | 6.85 | 6.81 | 7.48 | 8.37 | 9.51 |
| EPS · basic | 1.10 | 1.73 | 1.29 | 2.72 | 6.88 | 6.79 | 7.54 | 8.41 | 9.61 |
| Book value / share | 55.92 | 59.32 | 61.76 | 57.63 | 63.29 | 68.77 | 70.94 | 72.61 | 75.91 |
| Tangible BV / share | 3.85 | 8.56 | 12.50 | 11.72 | 17.70 | 68.77 | 70.94 | 72.61 | 75.91 |
| Sales / share | 36.88 | 45.28 | 48.58 | 49.90 | 52.14 | 55.68 | 58.99 | 60.64 | 63.29 |
| Operating CF / share | 3.05 | 3.29 | 5.39 | 7.63 | 10.00 | 8.33 | 8.86 | 9.14 | 9.38 |
| Free cash flow / share | 1.09 | 0.58 | 2.68 | 4.67 | 5.56 | 4.62 | 5.03 | 5.29 | 5.37 |
| Dividends / share | 0.00 | 0.00 | 0.00 | 0.75 | 1.00 | 0.63 | 0.65 | 0.68 | 0.73 |
| Payout ratio | 0.00% | 0.00% | 0.00% | +27.47% | +14.54% | +16.45% | +15.40% | +16.13% | +15.88% |
| Retention ratio | +100.00% | +100.00% | +100.00% | +72.53% | +85.46% | +83.55% | +84.60% | +83.87% | +84.12% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E | 8y CAGR |
|---|---|---|---|---|---|---|---|---|---|---|
| Top-line | ||||||||||
| Revenue · YoY | — | +22.70% | +7.47% | +2.77% | +3.35% | +7.79% | +4.29% | +4.15% | +3.01% | +6.77% |
| Gross profit · YoY | — | +27.07% | +4.86% | +9.99% | +9.17% | +4.54% | +2.51% | +3.48% | +0.69% | +7.52% |
| Profit | ||||||||||
| Operating income · YoY | — | +85.02% | +32.82% | +32.50% | +16.10% | -5.83% | +3.94% | +4.57% | -1.47% | +18.21% |
| EBITDA · YoY | — | +32.15% | +0.95% | +20.79% | +30.84% | -12.32% | +7.03% | +1.33% | +2.33% | +9.40% |
| Net income · YoY | — | +57.64% | -25.15% | +111.21% | +149.48% | -43.49% | +8.38% | +0.47% | +7.92% | +19.39% |
| Operating | ||||||||||
| EBIT · YoY | — | +72.27% | -1.35% | +42.97% | +43.32% | -18.83% | +6.36% | +0.57% | +4.66% | +15.49% |
| R&D · YoY | — | — | — | — | — | — | — | — | — | — |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | +57.80% | -25.00% | +110.85% | +151.84% | -0.55% | +9.79% | +11.95% | +13.58% | +31.10% |
| EPS · basic · YoY | — | +57.27% | -25.43% | +110.85% | +152.94% | -1.37% | +11.13% | +11.56% | +14.28% | +31.13% |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Leverage | |||||||||
| Total debt | $58.31B | $52.26B | $50.67B | $49.52B | $44.88B | $52.79B | $56.59B | $57.65B | $60.03B |
| Net debt | $42.35B | $40.64B | $36.49B | $43.52B | $39.18B | $43.26B | $46.3B | $46.96B | $48.87B |
| Net debt / EBITDA | 4.67 | 3.39 | 3.01 | 2.97 | 2.05 | 2.58 | 2.58 | 2.58 | 2.62 |
| Debt / equity | 0.57 | 0.48 | 0.45 | 0.47 | 0.39 | 0.42 | 0.44 | 0.44 | 0.44 |
| Debt / assets | +28.64% | +25.66% | +24.65% | +25.24% | +22.72% | +23.48% | +23.85% | +24.15% | +24.11% |
| Equity / assets | +50.21% | +53.22% | +54.97% | +53.78% | +58.03% | +55.92% | +53.80% | +55.45% | +54.85% |
| Coverage | |||||||||
| EBITDA / interest expense | 5.87 | 7.74 | 8.31 | 10.11 | 10.56 | 9.39 | 9.92 | 9.44 | 9.54 |
| Operating income / interest | 2.37 | 4.37 | 6.17 | 8.23 | 7.63 | 7.29 | 7.48 | 7.34 | 7.15 |
| Interest expense | $1.55B | $1.55B | $1.46B | $1.45B | $1.81B | $1.79B | $1.81B | $1.93B | $1.95B |
| Liquidity | |||||||||
| Current ratio | 1.08 | 1.00 | 1.05 | 0.73 | 0.71 | — | — | — | — |
| Quick ratio | 0.94 | 0.83 | 0.85 | 0.54 | 0.55 | — | — | — | — |
| Cash ratio | 0.51 | 0.40 | 0.46 | 0.17 | 0.17 | — | — | — | — |
| Working capital | $2.58B | $25M | $1.62B | -$9.36B | -$9.9B | — | — | — | — |
| Working capital / revenue | +3.83% | +0.03% | +1.83% | -10.24% | -10.48% | — | — | — | — |
Methodology. ROE / ROA / ROC use period-end balance-sheet denominators (no average-of- period smoothing). ROIC = Operating Income × (1 − inferred effective tax rate) over invested capital, with the effective tax inferred from net-to-operating income when both are positive and a 25% default otherwise. Net debt / EBITDA, debt ratios, and interest-coverage ratios are calculated point-in-time at each fiscal year-end. TTM = trailing 4 quarters (income / cash flow summed, balance sheet = most-recent quarterly snapshot). Through-cycle CAGR in the Growth panel uses the geometric mean of first-to-last period growth across the window (positive values only).