Financials Walt Disney Company (The)

Equities

DIS

US2546871060

Broadcasting

Market Closed - Nyse Other stock markets 04:02:21 2024-02-09 pm EST			5-day change	1st Jan Change
108.4 ^USD	-1.94%		+11.59%	+20.05%

Feb. 10	News Highlights : Top Global Markets News of the Day - Friday at 7 PM ET	DJ
Feb. 10	'Peaked TV': US scripted shows dropped in 2023	RE

Valuation

Fiscal Period: September	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	234,756	224,220	307,403	171,969	148,304	198,820	-	-
Enterprise Value (EV) ¹	276,324	264,934	345,850	208,723	180,553	232,624	228,463	222,086
P/E ratio	19.6 x	-78.5 x	155 x	54.8 x	62.8 x	28.3 x	22.4 x	18.4 x
Yield	1.35%	0.71%	-	-	-	0.55%	0.77%	0.94%
Capitalization / Revenue	3.37 x	3.43 x	4.56 x	2.08 x	1.67 x	2.16 x	2.05 x	1.96 x
EV / Revenue	3.97 x	4.05 x	5.13 x	2.52 x	2.03 x	2.53 x	2.35 x	2.19 x
EV / EBITDA	15.3 x	21 x	28.9 x	12.9 x	10.6 x	12.9 x	11.3 x	10.3 x
EV / FCF	249 x	73.7 x	174 x	197 x	36.9 x	27.6 x	26.5 x	22.6 x
FCF Yield	0.4%	1.36%	0.57%	0.51%	2.71%	3.62%	3.77%	4.43%
Price to Book	2.61 x	2.64 x	3.44 x	1.77 x	1.45 x	1.9 x	1.77 x	1.65 x
Nbr of stocks (in thousands)	1,801,379	1,807,063	1,817,127	1,823,058	1,829,779	1,834,302	-	-
Reference price ²	130.3	124.1	169.2	94.33	81.05	108.4	108.4	108.4
Announcement Date	11/7/19	11/12/20	11/10/21	11/8/22	11/8/23	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: September	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	69,570	65,388	67,418	82,722	88,898	91,932	97,181	101,426
EBITDA ¹	18,041	12,636	11,949	16,125	17,085	18,013	20,146	21,632
EBIT ¹	14,868	8,108	7,766	12,121	12,863	15,308	17,135	18,293
Operating Margin	21.37%	12.4%	11.52%	14.65%	14.47%	16.65%	17.63%	18.04%
Earnings before Tax (EBT) ¹	13,944	-1,743	2,561	5,285	4,769	11,321	13,213	15,286
Net income ¹	11,054	-2,864	1,995	3,145	2,354	7,300	8,813	10,521
Net margin	15.89%	-4.38%	2.96%	3.8%	2.65%	7.94%	9.07%	10.37%
EPS ²	6.640	-1.580000	1.090	1.720	1.290	3.833	4.846	5.898
Free Cash Flow ¹	1,108	3,594	1,988	1,059	4,897	8,418	8,624	9,829
FCF margin	1.59%	5.5%	2.95%	1.28%	5.51%	9.16%	8.87%	9.69%
FCF Conversion (EBITDA)	6.14%	28.44%	16.64%	6.57%	28.66%	46.73%	42.81%	45.44%
FCF Conversion (Net income)	10.02%	-	99.65%	33.67%	208.03%	115.32%	97.85%	93.42%
Dividend per Share ²	1.760	0.8800	-	-	-	0.6004	0.8303	1.017
Announcement Date	11/7/19	11/12/20	11/10/21	11/8/22	11/8/23	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: September	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
Net sales ¹	18,534	21,819	19,249	21,504	20,150	23,512	21,815	22,330	21,241	23,549	22,239	23,237	22,628	24,767	23,414
EBITDA ¹	2,579	4,299	4,714	4,532	2,580	4,069	4,316	4,608	4,092	4,811	4,320	4,862	4,356	5,354	4,830
EBIT ¹	1,587	3,258	3,699	3,567	1,597	3,043	3,285	3,559	2,976	3,876	3,548	4,202	3,796	4,282	4,270
Operating Margin	8.56%	14.93%	19.22%	16.59%	7.93%	12.94%	15.06%	15.94%	14.01%	16.46%	15.95%	18.08%	16.78%	17.29%	18.24%
Earnings before Tax (EBT) ¹	290	1,688	1,102	2,119	376	1,773	2,123	-134	1,007	2,871	2,517	3,100	2,663	3,038	3,188
Net income ¹	159	1,104	470	1,409	162	1,279	1,271	-460	264	1,911	1,606	2,001	1,697	2,225	2,259
Net margin	0.86%	5.06%	2.44%	6.55%	0.8%	5.44%	5.83%	-2.06%	1.24%	8.11%	7.22%	8.61%	7.5%	8.99%	9.65%
EPS ²	0.0900	0.6000	0.2600	0.7700	0.0900	0.7000	0.6900	-0.250000	0.1400	1.040	0.8718	1.103	0.9294	1.185	1.275
Dividend per Share ²	-	-	-	-	-	-	-	-	-	-	0.3000	0.1126	0.4500	0.7955	-
Announcement Date	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	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: September	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	41,568	40,714	38,447	36,754	32,249	33,804	29,643	23,266
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	2.304 x	3.222 x	3.218 x	2.279 x	1.888 x	1.877 x	1.471 x	1.076 x
Free Cash Flow ¹	1,108	3,594	1,988	1,059	4,897	8,418	8,624	9,829
ROE (net income / shareholders' equity)	16.1%	4.31%	4.91%	7.05%	8.19%	8.11%	9.3%	9.74%
ROA (Net income/ Total Assets)	7.56%	1.88%	2.09%	3.18%	3.89%	4.74%	5.61%	6.31%
Assets ¹	146,217	-152,258.627014	95,611	98,902	60,514	154,114	157,229	166,723
Book Value Per Share ²	49.90	46.90	49.20	53.30	55.70	56.90	61.20	65.70
Cash Flow per Share ²	3.590	4.210	3.060	3.290	5.390	6.000	6.360	9.340
Capex ¹	4,876	4,022	3,578	4,943	4,969	5,893	6,402	6,512
Capex / Sales	7.01%	6.15%	5.31%	5.98%	5.59%	6.41%	6.59%	6.42%
Announcement Date	11/7/19	11/12/20	11/10/21	11/8/22	11/8/23	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Walt Disney Company (The)

Trading Rating

Investor Rating

ESG Refinitiv

B+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

108.4 USD

Average target price

109.9 USD

Spread / Average Target

+1.41%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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