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Walt Disney

NYSE:DIS
Snowflake Description

Average dividend payer with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
DIS
NYSE
$183B
Market Cap
  1. Home
  2. US
  3. Media
Company description

The Walt Disney Company, together with its subsidiaries, operates as an entertainment company worldwide. The last earnings update was 64 days ago. More info.


Add to Portfolio Compare Print
  • Walt Disney has significant price volatility in the past 3 months.
DIS Share Price and Events
7 Day Returns
6.7%
NYSE:DIS
1.2%
US Entertainment
-2.6%
US Market
1 Year Returns
-13.6%
NYSE:DIS
-2.2%
US Entertainment
-13.3%
US Market
DIS Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Walt Disney (DIS) 6.7% -3% -30.1% -13.6% -10.4% -5.4%
US Entertainment 1.2% -6.9% -13.2% -2.2% 27.1% 55%
US Market -2.6% -15.2% -22.2% -13.3% 5.7% 17.2%
1 Year Return vs Industry and Market
  • DIS underperformed the Entertainment industry which returned -2.2% over the past year.
  • DIS matched the United States of America Market (-13.3%) over the past year.
Price Volatility
DIS
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Walt Disney undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Walt Disney to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Walt Disney.

NYSE:DIS Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 26 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.6%
Perpetual Growth Rate 10-Year US Government Bond Rate 1.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:DIS
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 1.7%
Equity Risk Premium S&P Global 5.4%
Entertainment Unlevered Beta Simply Wall St/ S&P Global 0.91
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.911 (1 + (1- 21%) (28.41%))
1.078
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.08
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.74% + (1.078 * 5.44%)
7.6%

Discounted Cash Flow Calculation for NYSE:DIS using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Walt Disney is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

NYSE:DIS DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 7.6%)
2020 4,067.96 Analyst x13 3,780.56
2021 7,326.56 Analyst x14 6,327.90
2022 8,715.19 Analyst x10 6,995.46
2023 10,948.47 Analyst x6 8,167.18
2024 13,781.03 Analyst x4 9,553.89
2025 15,881.73 Est @ 15.24% 10,232.37
2026 17,659.27 Est @ 11.19% 10,573.80
2027 19,135.00 Est @ 8.36% 10,647.96
2028 20,354.22 Est @ 6.37% 10,526.21
2029 21,368.30 Est @ 4.98% 10,269.93
Present value of next 10 years cash flows $87,075.00
NYSE:DIS DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $21,368.30 × (1 + 1.74%) ÷ (7.6% – 1.74%)
$370,866.32
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $370,866.32 ÷ (1 + 7.6%)10
$178,243.93
NYSE:DIS Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $87,075.00 + $178,243.93
$265,318.93
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $265,318.93 / 1,805.44
$146.96
NYSE:DIS Discount to Share Price
Calculation Result
Value per share (USD) From above. $146.96
Current discount Discount to share price of $101.24
= -1 x ($101.24 - $146.96) / $146.96
31.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Walt Disney is available for.
Intrinsic value
31%
Share price is $101.24 vs Future cash flow value of $146.96
Current Discount Checks
For Walt Disney to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Walt Disney's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Walt Disney's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Walt Disney's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Walt Disney's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:DIS PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-28) in USD $5.64
NYSE:DIS Share Price ** NYSE (2020-04-07) in USD $101.24
United States of America Entertainment Industry PE Ratio Median Figure of 27 Publicly-Listed Entertainment Companies 17.65x
United States of America Market PE Ratio Median Figure of 2,946 Publicly-Listed Companies 12.49x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Walt Disney.

NYSE:DIS PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:DIS Share Price ÷ EPS (both in USD)

= 101.24 ÷ 5.64

17.95x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Walt Disney is overvalued based on earnings compared to the US Entertainment industry average.
  • Walt Disney is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Walt Disney's expected growth come at a high price?
Raw Data
NYSE:DIS PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 17.95x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 26 Analysts
16%per year
United States of America Entertainment Industry PEG Ratio Median Figure of 21 Publicly-Listed Entertainment Companies 1.75x
United States of America Market PEG Ratio Median Figure of 2,010 Publicly-Listed Companies 0.89x

*Line of best fit is calculated by linear regression .

NYSE:DIS PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 17.95x ÷ 16%

1.12x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Walt Disney is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Walt Disney's assets?
Raw Data
NYSE:DIS PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-28) in USD $50.40
NYSE:DIS Share Price * NYSE (2020-04-07) in USD $101.24
United States of America Entertainment Industry PB Ratio Median Figure of 60 Publicly-Listed Entertainment Companies 1.92x
United States of America Market PB Ratio Median Figure of 5,158 Publicly-Listed Companies 1.22x
NYSE:DIS PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:DIS Share Price ÷ Book Value per Share (both in USD)

= 101.24 ÷ 50.40

2.01x

* Primary Listing of Walt Disney.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Walt Disney is overvalued based on assets compared to the US Entertainment industry average.
X
Value checks
We assess Walt Disney's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Entertainment industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Entertainment industry average (and greater than 0)? (1 check)
  5. Walt Disney has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Walt Disney expected to perform in the next 1 to 3 years based on estimates from 26 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
16%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Walt Disney expected to grow at an attractive rate?
  • Walt Disney's earnings growth is expected to exceed the low risk savings rate of 1.7%.
Growth vs Market Checks
  • Walt Disney's earnings growth is expected to exceed the United States of America market average.
  • Walt Disney's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:DIS Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:DIS Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 26 Analysts 16%
NYSE:DIS Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 26 Analysts 7.5%
United States of America Entertainment Industry Earnings Growth Rate Market Cap Weighted Average 12.1%
United States of America Entertainment Industry Revenue Growth Rate Market Cap Weighted Average 10.6%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.4%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:DIS Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 26 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:DIS Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-09-30 102,581 19,997 11,404 6
2023-09-30 97,808 17,236 10,644 8
2022-09-30 90,368 14,103 9,846 15
2021-09-30 84,371 12,444 9,054 24
2020-09-30 76,773 9,657 5,146 26
2020-04-08
NYSE:DIS Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-28 75,125 6,118 9,786
2019-09-28 69,570 6,606 10,441
2019-06-29 64,776 8,439 11,978
2019-03-30 59,760 13,511 13,457
2018-12-29 59,386 14,157 10,963
2018-09-29 59,434 14,295 12,598
2018-06-30 57,907 14,012 12,023
2018-03-31 56,916 14,433 11,473
2017-12-30 55,704 13,135 10,924
2017-09-30 55,137 12,343 8,980
2017-07-01 55,500 12,294 9,004
2017-04-01 55,539 11,824 9,235
2016-12-31 55,172 12,125 8,990

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Walt Disney's earnings are expected to grow by 16% yearly, however this is not considered high growth (20% yearly).
  • Walt Disney's revenue is expected to grow by 7.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:DIS Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 26 Analyst Estimates (S&P Global) See Below

All data from Walt Disney Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:DIS Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-09-30 6.59 7.34 5.10 3.00
2023-09-30 8.66 20.02 4.09 5.00
2022-09-30 6.78 17.73 3.42 10.00
2021-09-30 5.59 14.52 2.73 17.00
2020-09-30 3.78 11.13 -0.21 16.00
2020-04-08
NYSE:DIS Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-28 5.64
2019-09-28 6.30
2019-06-29 7.59
2019-03-30 8.97
2018-12-29 7.34
2018-09-29 8.40
2018-06-30 7.96
2018-03-31 7.51
2017-12-30 7.06
2017-09-30 5.73
2017-07-01 5.68
2017-04-01 5.77
2016-12-31 5.57

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Walt Disney is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Walt Disney's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Walt Disney has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Walt Disney performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Walt Disney's growth in the last year to its industry (Entertainment).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Walt Disney's year on year earnings growth rate has been positive over the past 5 years.
  • Walt Disney's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Walt Disney's 1-year earnings growth is negative, it can't be compared to the US Entertainment industry average.
Earnings and Revenue History
Walt Disney's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Walt Disney Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:DIS Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-28 75,125.00 9,786.00 13,011.80
2019-09-28 69,570.00 10,441.00 11,438.80
2019-06-29 64,776.00 11,978.00 9,930.00
2019-03-30 59,760.00 13,457.00 8,852.00
2018-12-29 59,386.00 10,963.00 8,900.00
2018-09-29 59,434.00 12,598.00 8,860.00
2018-06-30 57,907.00 12,023.00 8,767.00
2018-03-31 56,916.00 11,473.00 8,576.00
2017-12-30 55,704.00 10,924.00 8,278.00
2017-09-30 55,137.00 8,980.00 8,176.00
2017-07-01 55,500.00 9,004.00 8,235.00
2017-04-01 55,539.00 9,235.00 8,518.00
2016-12-31 55,172.00 8,990.00 8,714.00
2016-10-01 55,632.00 9,391.00 8,754.00
2016-07-02 56,002.00 9,229.00 8,873.00
2016-04-02 54,826.00 9,115.00 8,669.00
2016-01-02 54,318.00 9,080.00 8,613.00
2015-10-03 52,465.00 8,382.00 8,523.00
2015-06-27 51,342.00 8,272.00 8,501.00
2015-03-28 50,707.00 8,034.00 8,447.00
2014-12-27 49,895.00 7,843.00 8,482.00
2014-09-27 48,813.00 7,501.00 8,565.00
2014-06-28 47,992.00 7,396.00 14,546.00
2014-03-29 47,104.00 6,998.00 12,499.00
2013-12-28 46,009.00 6,594.00 10,383.00
2013-09-28 45,041.00 6,136.00 8,365.00
2013-06-29 44,255.00 5,986.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Walt Disney has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Walt Disney used its assets less efficiently than the US Entertainment industry average last year based on Return on Assets.
  • Walt Disney's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Walt Disney's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Entertainment industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Walt Disney has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Walt Disney's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Walt Disney's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Walt Disney's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Walt Disney's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Walt Disney's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Walt Disney Company Filings, last reported 3 months ago.

NYSE:DIS Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-28 103,802.00 48,075.00 6,833.00
2019-09-28 102,852.00 46,986.00 5,418.00
2019-06-29 105,253.00 58,234.00 6,728.00
2019-03-30 105,442.00 56,961.00 10,108.00
2018-12-29 55,517.00 20,665.00 4,455.00
2018-09-29 53,955.00 20,874.00 4,150.00
2018-06-30 51,208.00 23,673.00 4,326.00
2018-03-31 49,801.00 24,684.00 4,179.00
2017-12-30 48,225.00 26,091.00 4,677.00
2017-09-30 46,152.00 25,291.00 4,017.00
2017-07-01 46,051.00 22,187.00 4,336.00
2017-04-01 47,267.00 21,653.00 3,800.00
2016-12-31 47,177.00 20,490.00 3,736.00
2016-10-01 47,323.00 20,170.00 4,610.00
2016-07-02 48,146.00 20,441.00 5,227.00
2016-04-02 48,010.00 21,122.00 5,015.00
2016-01-02 48,198.00 18,915.00 4,301.00
2015-10-03 48,655.00 17,336.00 4,269.00
2015-06-27 50,507.00 15,273.00 4,475.00
2015-03-28 49,737.00 14,957.00 3,745.00
2014-12-27 47,793.00 16,543.00 5,077.00
2014-09-27 48,178.00 14,795.00 3,421.00
2014-06-28 48,612.00 16,136.00 4,090.00
2014-03-29 47,640.00 15,689.00 4,078.00
2013-12-28 47,296.00 15,401.00 4,397.00
2013-09-28 48,150.00 14,382.00 3,931.00
2013-06-29 45,907.00 15,003.00 3,932.00
  • Walt Disney's level of debt (46.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (34.5% vs 46.3% today).
  • Debt is not well covered by operating cash flow (12.7%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 9.6x coverage).
X
Financial health checks
We assess Walt Disney's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Walt Disney has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Walt Disney's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.74%
Current annual income from Walt Disney dividends. Estimated to be 1.93% next year.
If you bought $2,000 of Walt Disney shares you are expected to receive $35 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Walt Disney's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (2.01%).
  • Walt Disney's dividend is below the markets top 25% of dividend payers in United States of America (5.66%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:DIS Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 26 Analyst Estimates (S&P Global) See Below
United States of America Entertainment Industry Average Dividend Yield Market Cap Weighted Average of 11 Stocks 1.6%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1935 Stocks 3%
United States of America Minimum Threshold Dividend Yield 10th Percentile 1.1%
United States of America Bottom 25% Dividend Yield 25th Percentile 2%
United States of America Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:DIS Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2024-09-30
2023-09-30
2022-09-30 2.16 5.00
2021-09-30 1.96 11.00
2020-09-30 1.86 11.00
2020-04-08
NYSE:DIS Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-12-04 1.760 1.404
2019-08-07 1.760 1.295
2019-08-06 1.760 1.273
2019-06-26 1.760 1.237
2018-11-28 1.760 1.476
2018-08-07 1.680 1.477
2018-06-26 1.680 1.535
2017-11-29 1.680 1.606
2017-08-08 1.560 1.553
2017-06-28 1.560 1.464
2016-11-30 1.560 1.434
2016-08-09 1.420 1.504
2016-06-29 1.420 1.454
2015-08-04 1.320 1.288
2015-06-24 1.320 1.124
2015-02-03 1.150 1.070
2014-12-03 1.150 1.231
2014-02-05 0.860 1.016
2013-12-04 0.860 1.177
2013-02-05 0.750 1.192
2012-11-28 0.750 1.471
2012-08-07 0.600 1.189
2012-05-08 0.600 1.279
2012-02-07 0.600 1.410
2011-11-30 0.600 1.583
2011-02-08 0.400 1.068
2010-02-09 0.350 1.003
2009-12-02 0.350 1.128
2009-11-12 0.350 1.152
2009-05-05 0.350 1.353

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Walt Disney's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.2x coverage).
X
Income/ dividend checks
We assess Walt Disney's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Walt Disney afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Walt Disney has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Walt Disney's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Bob Chapek
AGE 59
TENURE AS CEO 0.2 years
CEO Bio

Mr. Robert A. Chapek, also known as Bob, serves as Chief Executive Officer at Walt Disney Company since February 25, 2020. He served as Chairman of Disney Parks, Experiences and Products at Walt Disney Company since October 2019 until February 25, 2020. Mr. Chapek served as Chairman of Parks, Experiences and Products at Walt Disney Company since 2019 until October 2019 and served as Chairman of Parks, Experiences and Consumer Products Segment at Walt Disney Company since March 14, 2018 until 2019. Mr. Chapek served as President of Disney Consumer Products of Walt Disney Co. and Disney Interactive Studios, Inc. since September 2011. Mr. Chapek is a veteran of Disney. He served as the President of Distribution of Walt Disney Studios at Walt Disney Studios Home Entertainment, Walt Disney Studios Motion Pictures, Inc. and Buena Vista Worldwide Home Entertainment, Inc. from November 2009 to September 2011. He had been responsible for overseeing the Disney studios' overall content distribution strategy across multiple platforms, including theatrical exhibition, home entertainment, pay TV, digital entertainment and new media. He served as the President of Walt Disney Studios at Buena Vista Home Entertainment, Inc. Mr. Chapek served as the Head of the Studio's new global home entertainment division of Walt Disney Co. Prior to joining Disney in 1993, he worked in brand management at H.J. Heinz Co. and in advertising at J. Walter Thompson. He has been Chairman of Disney Destinations, LLC since February 2015. He had been Chairman of Walt Disney Parks and Resorts at The Walt Disney Company. He leads a global team of more than 145,000 Cast Members, Crew Members and Imagineers charged with delivering magical experiences and exceeding the expectations of millions of guests each year. His guest-centric approach focuses on ensuring that every aspect of a vacation is uniquely Disney and exceeds guest expectations. He has implemented innovative strategies to improve the guest experience by balancing demand at the parks, integrating new franchises at locations around the world, and introducing beloved and iconic experiences to new generations of Disney fans. Mr. Chapek previously served as president, Disney Consumer Products (DCP), where he oversaw the organization that brings to life the characters and stories of four iconic Walt Disney Company brands— Disney, Pixar, Star Wars, and Marvel— through Franchise Licensing & Commercialization, Disney Publishing Worldwide and the Disney Store. Under his leadership, DCP led a transformation in the worlds of play, storytelling, and learning. Mr. Chapek also served as president of Distribution for The Walt Disney Studios, where he managed its film content distribution strategy across multiple platforms, and president of Walt Disney Studios Home Entertainment during which he led the organization to record-setting performances and played a key role in the commercialization of the Studio's film business. Throughout his more than 20 years at Disney, he has championed using the latest technology to drive growth and improve the guest and consumer experience, developed groundbreaking business models and identified new revenue streams to achieve business objectives and sustain long-term growth for the business. Prior to joining Disney, he worked in brand management at H.J. Heinz Company, and in advertising at J. Walter Thompson. He has a degree in microbiology from Indiana University Bloomington, and received his MBA from Michigan State University.

CEO Compensation
  • Insufficient data for Bob to compare compensation growth.
  • Insufficient data for Bob to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Walt Disney management team in years:

7.7
Average Tenure
60.5
Average Age
  • The average tenure for the Walt Disney management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Bob Iger

TITLE
Executive Chairman
COMPENSATION
$48M
AGE
68
TENURE
0.2 yrs

Christine McCarthy

TITLE
Senior EVP & CFO
COMPENSATION
$15M
AGE
64
TENURE
4.8 yrs

Alan Braverman

TITLE
Senior EVP
COMPENSATION
$14M
AGE
71
TENURE
17.3 yrs

Zenia Mucha

TITLE
Senior EVP & Chief Communications Officer
COMPENSATION
$8M
AGE
62
TENURE
15.1 yrs

Mary Parker

TITLE
Senior EVP & Chief Human Resources Officer
COMPENSATION
$9M
AGE
58
TENURE
10.6 yrs

Bob Chapek

TITLE
Chief Executive Officer
AGE
59
TENURE
0.2 yrs

Lowell Singer

TITLE
Senior Vice President of Investor Relations

John Rood

TITLE
Senior Vice President of Marketing
TENURE
3.5 yrs

Kevin Mayer

TITLE
Chairman of Direct-to-Consumer & International Business Segment
COMPENSATION
$12M
AGE
57
TENURE
14.8 yrs

Brent Woodford

TITLE
Executive Vice President of Controllership
AGE
56
Board of Directors Tenure

Average tenure and age of the Walt Disney board of directors in years:

2.3
Average Tenure
60.5
Average Age
  • The average tenure for the Walt Disney board of directors is less than 3 years, this suggests a new board.
Board of Directors

Jimmy Pitaro

TITLE
President of ESPN & Co-Chair of Disney Media Networks
AGE
48
TENURE
4.2 yrs

Ivan Tavrin

TITLE
Chairman of The Board of Directors of New TV Channel Disney
AGE
43

Bob Iger

TITLE
Executive Chairman
COMPENSATION
$48M
AGE
68
TENURE
8.1 yrs

Peter Rice

TITLE
Chairman of Walt Disney Television & Co-Chair of Disney Media Networks
TENURE
2.3 yrs

Dana Walden

TITLE
Chairman of Disney Television Studios & ABC Entertainment
AGE
54

John Landgraf

TITLE
Chairman of FX Networks & FX Productions
TENURE
2.3 yrs

Gary Knell

TITLE
Chairman of National Geographic Partners
AGE
65

Susan Arnold

TITLE
Independent Lead Director
COMPENSATION
$393K
AGE
64
TENURE
2.1 yrs

Mel Lagomasino

TITLE
Independent Director
COMPENSATION
$347K
AGE
70
TENURE
4.3 yrs

Safra Catz

TITLE
Independent Director
COMPENSATION
$396K
AGE
57
TENURE
2.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
14. Jun 19 Sell Zenia Mucha Individual 14. Jun 19 14. Jun 19 -15,000 $142.11 $-2,131,590
12. Apr 19 Sell Zenia Mucha Individual 12. Apr 19 12. Apr 19 -20,000 $128.15 $-2,563,000
X
Management checks
We assess Walt Disney's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Walt Disney has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

We Think Walt Disney (NYSE:DIS) Is Taking Some Risk With Its Debt

View our latest analysis for Walt Disney What Is Walt Disney's Net Debt? … Over the most recent three years, Walt Disney recorded free cash flow worth 53% of its EBIT, which is around normal, given free cash flow excludes interest and tax. … Looking at all the angles mentioned above, it does seem to us that Walt Disney is a somewhat risky investment as a result of its debt.

Simply Wall St -

Why The Walt Disney Company (NYSE:DIS) Is A Top Dividend Stock

Dividend paying stocks like The Walt Disney Company (NYSE:DIS) tend to be popular with investors, and for good reason - some research suggests a significant amount of all stock market returns come from reinvested dividends. … Dividend Growth Potential Dividend payments have been consistent over the past few years, but we should always check if earnings per share (EPS) are growing, as this will help maintain the purchasing power of the dividend. It's good to see Walt Disney has been growing its earnings per share at 17% a year over the past 5 years. Earnings per share are growing at a solid clip, and the payout ratio is low. We think this is an ideal combination in a dividend stock. Conclusion Dividend investors should always want to know if a) a company's dividends are affordable, b) if there is a track record of consistent payments, and c) if the dividend is capable of growing. … Earnings growth generally bodes well for the future value of company dividend payments.

Simply Wall St -

Should You Worry About The Walt Disney Company's (NYSE:DIS) CEO Salary Level?

According to our data, The Walt Disney Company has a market capitalization of US$240b, and pays its CEO total annual compensation worth US$66m. … When we examined a group of companies with market caps over US$8.0b, we found that their median CEO total compensation was US$11m. … We examined the amount The Walt Disney Company pays its CEO, and compared it to the amount paid by other large companies.

Simply Wall St -

The Walt Disney Company (NYSE:DIS): Earnings To Drop Next Year

In this article, I've outline a few earnings growth rates to give you a sense of the market sentiment for Walt Disney in the longer term. … To reduce the year-on-year volatility of analyst earnings forecast, I've inserted a line of best fit through the expected earnings figures to determine the annual growth rate from the slope of the line. … NYSE:DIS Past and Future Earnings, August 8th 2019 This results in an annual growth rate of 5.1% based on the most recent earnings level of US$13b to the final forecast of US$12b by 2022.

Simply Wall St -

Do The Walt Disney Company’s (NYSE:DIS) Returns On Capital Employed Make The Cut?

The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Walt Disney: 0.082 = US$14b ÷ (US$214b - US$44b) (Based on the trailing twelve months to March 2019.) Therefore, Walt Disney has an ROCE of 8.2%. … What Are Current Liabilities, And How Do They Affect Walt Disney's ROCE? … Due to the way ROCE is calculated, a high level of current liabilities makes a company look as though it has less capital employed, and thus can (sometimes unfairly) boost the ROCE.

Simply Wall St -

Does The Walt Disney Company's (NYSE:DIS) 17% Earnings Growth Reflect The Long-Term Trend?

When The Walt Disney Company's (NYSE:DIS) announced its latest earnings (30 March 2019), I wanted to understand how these figures stacked up against its past performance. … The two benchmarks I used were Walt Disney's average earnings over the past couple of years, and its industry performance. … Check out our latest analysis for Walt Disney Were DIS's earnings stronger than its past performances and the industry?

Simply Wall St -

Have Insiders Been Selling The Walt Disney Company (NYSE:DIS) Shares?

So we'll take a look at whether insiders have been buying or selling shares in The Walt Disney Company (NYSE:DIS). … Check out our latest analysis for Walt Disney The Last 12 Months Of Insider Transactions At Walt Disney The Senior EVP &amp; Chief Communications Officer, Zenia Mucha, made the biggest insider sale in the last 12 months. … An insider hasn't bought Walt Disney stock in the last three months, but there was some selling.

Simply Wall St -

Is Now The Time To Put Walt Disney (NYSE:DIS) On Your Watchlist?

In the chart below, you can see how the company has grown earnings, and revenue, over time. … We would not expect to see insiders owning a large percentage of a US$238b company like Walt Disney. … For growth investors like me, Walt Disney's raw rate of earnings growth is a beacon in the night.

Simply Wall St -

Update: Walt Disney (NYSE:DIS) Stock Gained 58% In The Last Five Years

For example, the The Walt Disney Company (NYSE:DIS) share price is up 58% in the last 5 years, clearly besting than the market return of around 38% (ignoring dividends). … During five years of share price growth, Walt Disney achieved compound earnings per share (EPS) growth of 18% per year. … As it happens, Walt Disney's TSR for the last 5 years was 70%, which exceeds the share price return mentioned earlier.

Simply Wall St -

Do You Know What The Walt Disney Company's (NYSE:DIS) P/E Ratio Means?

We'll look at The Walt Disney Company's (NYSE:DIS) P/E ratio and reflect on what it tells us about the company's share price. … Looking at earnings over the last twelve months, Walt Disney has a P/E ratio of 18.18. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Company Info

Description

The Walt Disney Company, together with its subsidiaries, operates as an entertainment company worldwide. The company’s Media Networks segment operates domestic cable networks under the Disney, ESPN, Freeform, FX, and National Geographic brands; and television broadcast network under the ABC brand, as well as eight owned domestic television stations. This segment is also involved in the television production and distribution; and operation of National Geographic magazines. Its Parks, Experiences and Products segment operates theme parks and resorts, such as Walt Disney World Resort in Florida; Disneyland Resort in California; Disneyland Paris; Hong Kong Disneyland Resort; and Shanghai Disney Resort; Disney Cruise Line, Disney Vacation Club, National Geographic Expeditions, and Adventures by Disney; and Aulani, a Disney resort and spa in Hawaii, as well as licenses its intellectual property to a third party for the operations of the Tokyo Disney Resort in Japan. The company’s Studio Entertainment segment produces and distributes motion pictures under the Walt Disney Pictures, Twentieth Century Fox, Marvel, Lucasfilm, Pixar, Fox Searchlight Pictures, and Blue Sky Studios banners; develops, produces, and licenses live entertainment events; produces and distributes music; and provides post-production services, including visual and audio effects. Its Direct-To-Consumer & International segment operates international television networks and channels comprising Disney, ESPN, Fox, National Geographic, Star, and Other India Channels; direct-to-consumer streaming services consisting of Disney +, ESPN+, Hotstar, and Hulu; and operates branded apps and Websites, such as Disney Movie Club and Disney Digital Network, as well as provides streaming technology support services. The company was founded in 1923 and is based in Burbank, California.

Details
Name: The Walt Disney Company
DIS
Exchange: NYSE
Founded: 1923
$182,782,608,217
1,805,438,643
Website: http://www.thewaltdisneycompany.com
Address: The Walt Disney Company
500 South Buena Vista Street,
Burbank,
California, 91521,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE DIS Common Shares New York Stock Exchange US USD 02. Jan 1968
DB WDP Common Shares Deutsche Boerse AG DE EUR 02. Jan 1968
XTRA WDP Common Shares XETRA Trading Platform DE EUR 02. Jan 1968
SWX DIS Common Shares SIX Swiss Exchange CH CHF 02. Jan 1968
WBAG DIS Common Shares Wiener Boerse AG AT EUR 02. Jan 1968
SNSE DIS Common Shares Santiago Stock Exchange CL USD 02. Jan 1968
BMV DIS * Common Shares Bolsa Mexicana de Valores MX MXN 02. Jan 1968
BVL DIS Common Shares Bolsa de Valores de Lima PE USD 02. Jan 1968
ETLX WD-U Common Shares Eurotlx IT EUR 02. Jan 1968
BOVESPA DISB34 BDR EACH REPR 1 COM SHS Bolsa de Valores de Sao Paulo BR BRL 30. Jan 2012
BASE DISN 4 CEDEAR EACH REPR 1 COM USD0.01 Buenos Aires Stock Exchange AR ARS 10. Jan 2001
Number of employees
Current staff
Staff numbers
223,000
Walt Disney employees.
Industry
Movies and Entertainment
Media
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/08 00:45
End of day share price update: 2020/04/07 00:00
Last estimates confirmation: 2020/04/06
Last earnings filing: 2020/02/04
Last earnings reported: 2019/12/28
Last annual earnings reported: 2019/09/28


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.