Financials Walt Disney Company (The)

Equities

DIS

US2546871060

Broadcasting

Market Closed - Nyse Other stock markets 16:00:02 2025-06-12 EDT			After hours 20:00:00
118.61 ^USD	-0.76%		117.45	-0.98%

06-12	Trump’s trade rhetoric rekindles market jitters
06-12	MoffettNathanson Adjusts Price Target on Walt Disney to $130 From $140	MT

Projected Income Statement: Walt Disney Company (The)

Fiscal Period: September	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	65,388	67,418	82,722	88,898	91,361	95,106	100,118	104,613
Change	-	3.1%	22.7%	7.47%	2.77%	4.1%	5.27%	4.49%
EBITDA ¹	12,636	11,949	16,125	17,085	19,156	19,791	21,579	23,461
Change	-	-5.44%	34.95%	5.95%	12.12%	3.31%	9.03%	8.72%
EBIT ¹	8,108	7,766	12,121	12,863	15,601	17,552	18,876	20,624
Change	-	-4.22%	56.08%	6.12%	21.29%	12.5%	7.55%	9.26%
Interest Paid ¹	-1,491	-1,406	-1,397	-1,209	-1,260	-1,408	-1,368	-1,290
Earnings before Tax (EBT) ¹	-1,743	2,561	5,285	4,769	7,569	12,535	14,050	15,608
Change	-	246.93%	106.36%	-9.76%	58.71%	65.61%	12.08%	11.09%
Net income ¹	-2,864	1,995	3,145	2,354	4,972	9,721	9,882	11,071
Change	-	169.66%	57.64%	-25.15%	111.21%	95.51%	1.66%	12.03%
Announcement Date	11/12/20	11/10/21	11/8/22	11/8/23	11/14/24	-	-	-

¹USD in Million

Estimates

Fiscal Period: September	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2
Net sales ¹	11,779	14,707	16,249	15,613	17,022	18,534	21,819	19,249	21,504	20,150	23,512	21,815	22,330	21,241	23,549	22,083	23,155	22,574	24,690	23,621	23,707	23,003	25,955	24,684	24,880	24,155	-	-
Change	-	24.86%	10.48%	-3.91%	9.02%	8.88%	17.72%	-11.78%	11.71%	-6.3%	16.68%	-7.22%	2.36%	-4.88%	10.87%	-6.23%	4.85%	-2.51%	9.37%	-4.33%	0.36%	-2.97%	12.83%	-4.9%	0.79%	-2.91%	-	-
EBITDA ¹	2,299	1,728	2,398	3,536	3,436	2,579	4,299	4,714	4,532	2,580	4,069	4,316	4,608	4,092	4,811	4,696	5,773	4,532	5,876	5,365	5,083	4,230	6,040	5,471	5,863	4,721	-	-
Change	-	-24.84%	38.77%	47.46%	-2.83%	-24.94%	66.69%	9.65%	-3.86%	-43.07%	57.71%	6.07%	6.77%	-11.2%	17.57%	-2.39%	22.93%	-21.5%	29.66%	-8.7%	-5.25%	-16.78%	42.78%	-9.42%	7.17%	-19.48%	-	-
EBIT ¹	1,099	606	1,332	2,465	2,382	1,587	3,258	3,699	3,567	1,597	3,043	3,285	3,559	2,976	3,876	3,845	4,225	3,655	5,060	4,436	4,431	3,553	5,207	4,673	5,309	3,867	-	-
Change	-	-44.86%	119.8%	85.06%	-3.37%	-33.38%	105.29%	13.54%	-3.57%	-55.23%	90.54%	7.95%	8.34%	-16.38%	30.24%	-0.8%	9.88%	-13.49%	38.44%	-12.33%	-0.12%	-19.81%	46.54%	-10.25%	13.6%	-27.16%	-	-
Charge d'intérêts ¹	-412	-496	-324	-320	-445	-317	-311	-355	-360	-371	-300	-322	-305	-282	-246	-311	-342	-361	-367	-346	-349.5	-353.7	-346	-342.5	-340.7	-342	-349	-316
Earnings before Tax (EBT) ¹	-4,840	-580	46	1,230	995	290	1,688	1,102	2,119	376	1,773	2,123	-134	1,007	2,871	657	3,093	948	3,660	3,087	3,309	2,428	3,985	3,450	3,681	2,653	-	-
Change	-	88.02%	107.93%	2,573.91%	-19.11%	-70.85%	482.07%	-34.72%	92.29%	-82.26%	371.54%	19.74%	-106.31%	851.49%	185.1%	-77.12%	370.78%	-69.35%	286.08%	-15.66%	7.2%	-26.65%	64.15%	-13.41%	6.68%	-27.93%	-	-
Net income ¹	-4,721	-710	17	901	918	159	1,104	470	1,409	162	1,279	1,271	-460	264	1,911	-20	2,621	460	2,554	3,275	2,300	1,660	2,733	2,338	2,442	1,835	-	-
Change	-	84.96%	102.39%	5,200%	1.89%	-82.68%	594.34%	-57.43%	199.79%	-88.5%	689.51%	-0.63%	-136.19%	157.39%	623.86%	-101.05%	13,205%	-82.45%	455.22%	28.23%	-29.78%	-27.81%	64.59%	-14.44%	4.46%	-24.86%	-	-
Announcement Date	8/4/20	11/12/20	2/11/21	5/13/21	8/12/21	11/10/21	2/9/22	5/11/22	8/10/22	11/8/22	2/8/23	5/10/23	8/9/23	11/8/23	2/7/24	5/7/24	8/7/24	11/14/24	2/5/25	5/7/25	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Walt Disney Company (The)

Fiscal Period: September	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	40,714	38,447	36,754	32,249	39,813	35,707	31,938	27,758
Change	-	-5.57%	-4.4%	-12.26%	23.45%	-10.31%	-10.56%	-13.09%
Announcement Date	11/12/20	11/10/21	11/8/22	11/8/23	11/14/24	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Walt Disney Company (The)

Fiscal Period: September	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	4,022	3,578	4,943	4,969	5,412	8,218	7,851	7,657
Change	-	-11.04%	38.15%	0.53%	8.92%	51.86%	-4.47%	-2.47%
Free Cash Flow (FCF) ¹	3,594	1,988	1,059	4,897	8,559	8,518	8,503	9,730
Change	-	-44.69%	-46.73%	362.42%	74.78%	-0.47%	-0.18%	14.42%
Announcement Date	11/12/20	11/10/21	11/8/22	11/8/23	11/14/24	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Walt Disney Company (The)

Fiscal Period: September	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	19.32%	17.72%	19.49%	19.22%	20.97%	20.81%	21.55%	22.43%
EBIT Margin (%)	12.4%	11.52%	14.65%	14.47%	17.08%	18.45%	18.85%	19.71%
EBT Margin (%)	-2.67%	3.8%	6.39%	5.36%	8.28%	13.18%	14.03%	14.92%
Net margin (%)	-4.38%	2.96%	3.8%	2.65%	5.44%	10.22%	9.87%	10.58%
FCF margin (%)	5.5%	2.95%	1.28%	5.51%	9.37%	8.96%	8.49%	9.3%
FCF / Net Income (%)	-125.49%	99.65%	33.67%	208.03%	172.14%	87.63%	86.05%	87.89%
Profitability
ROA	1.88%	2.09%	3.18%	3.89%	4.58%	5.07%	5.07%	5.51%
ROE	4.31%	4.91%	7.05%	8.19%	9.2%	9.75%	9.98%	10.45%
Financial Health
Leverage (Debt/EBITDA)	3.22x	3.22x	2.28x	1.89x	2.08x	1.8x	1.48x	1.18x
Debt / Free cash flow	11.33x	19.34x	34.71x	6.59x	4.65x	4.19x	3.76x	2.85x
Capital Intensity
CAPEX / Current Assets (%)	6.15%	5.31%	5.98%	5.59%	5.92%	8.64%	7.84%	7.32%
CAPEX / EBITDA (%)	31.83%	29.94%	30.65%	29.08%	28.25%	41.53%	36.38%	32.64%
CAPEX / FCF (%)	111.91%	179.98%	466.76%	101.47%	63.23%	96.48%	92.33%	78.7%
Items per share
Cash flow per share ¹	4.212	3.065	3.285	5.391	7.63	7.139	7.365	10.71
Change	-	-27.24%	7.19%	64.11%	41.53%	-6.43%	3.16%	45.36%
Dividend per Share ¹	0.88	-	-	-	-	0.9604	1.07	1.196
Change	-	-	-	-	-	-	11.38%	11.83%
Book Value Per Share ¹	46.93	49.23	53.35	55.74	55	59.73	64.85	70.53
Change	-	4.91%	8.35%	4.49%	-1.34%	8.61%	8.57%	8.76%
EPS ¹	-1.58	1.09	1.72	1.29	2.72	5.313	5.456	6.207
Change	-	168.99%	57.8%	-25%	110.85%	95.32%	2.7%	13.75%
Nbr of stocks (in thousands)	1,807,063	1,817,127	1,823,058	1,829,779	1,816,000	1,797,746	1,797,746	1,797,746
Announcement Date	11/12/20	11/10/21	11/8/22	11/8/23	11/14/24	-	-	-