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Walt Disney

NYSE:DIS
Snowflake Description

Established dividend payer with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
DIS
NYSE
$167B
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 26 days ago. More info.


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DIS Share Price and Events
7 Day Returns
-1.1%
NYSE:DIS
-0%
US Entertainment
-1.5%
US Market
1 Year Returns
-0.4%
NYSE:DIS
4.7%
US Entertainment
-4.2%
US Market
DIS Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Walt Disney (DIS) -1.1% -4.8% 1% -0.4% 3.8% 51%
US Entertainment -0% -3.6% -11.8% 4.7% 37.6% 80.3%
US Market -1.5% -5.2% -11.2% -4.2% 27.3% 35.3%
1 Year Return vs Industry and Market
  • DIS underperformed the Entertainment industry which returned 4.7% over the past year.
  • DIS outperformed the Market in United States of America which returned -4.2% 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 21 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.9%
Perpetual Growth Rate 10-Year US Government Bond Rate 3%

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 3%
Equity Risk Premium S&P Global 7.1%
Entertainment Unlevered Beta Simply Wall St/ S&P Global 1.02
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.021 (1 + (1- 21%) (12.5%))
1.122
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.12
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.95% + (1.122 * 7.05%)
10.86%

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 use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:DIS DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (USD, Millions) 10,167.26 11,114.02 11,542.60 11,090.33 11,637.00
Source Analyst x12 Analyst x9 Analyst x5 Analyst x3 Analyst x3
Present Value
Discounted (@ 10.86%)
9,171.49 9,043.64 8,472.50 7,343.25 6,950.58
Present value of next 5 years cash flows $40,981.46
NYSE:DIS DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= $11,637.00 × (1 + 2.95%) ÷ (10.86% – 2.95%)
$151,510.59
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= $151,510.59 ÷ (1 + 10.86%)5
$90,494.64
NYSE:DIS Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= $40,981.46 + $90,494.64
$131,476.10
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $131,476.10 / 1,488.67
$88.32
NYSE:DIS Discount to Share Price
Calculation Result
Value per share (USD) From above. $88.32
Current discount Discount to share price of $110.62
= -1 x ($110.62 - $88.32) / $88.32
-25.3%

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

  • The current share price of Walt Disney is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 (2018-09-29) in USD $8.40
NYSE:DIS Share Price ** NYSE (2018-12-17) in USD $110.62
United States of America Entertainment Industry PE Ratio Median Figure of 24 Publicly-Listed Entertainment Companies 22.91x
United States of America Market PE Ratio Median Figure of 3,017 Publicly-Listed Companies 16.77x

* 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)

= 110.62 ÷ 8.40

13.16x

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

  • Walt Disney is good value based on earnings compared to the US Entertainment industry average.
  • Walt Disney is good value 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 13.16x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 21 Analysts
1.5%per year
United States of America Entertainment Industry PEG Ratio Median Figure of 19 Publicly-Listed Entertainment Companies 2.02x
United States of America Market PEG Ratio Median Figure of 2,105 Publicly-Listed Companies 1.16x

*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

= 13.16x ÷ 1.5%

8.76x

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 (2018-09-29) in USD $32.78
NYSE:DIS Share Price * NYSE (2018-12-17) in USD $110.62
United States of America Entertainment Industry PB Ratio Median Figure of 55 Publicly-Listed Entertainment Companies 3.21x
United States of America Market PB Ratio Median Figure of 5,082 Publicly-Listed Companies 1.7x
NYSE:DIS PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 110.62 ÷ 32.78

3.37x

* 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.
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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 2/6, 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 21 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
1.5%
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 positive but not above the low risk savings rate of 3%.
Growth vs Market Checks
  • Walt Disney's earnings growth is positive but not above the United States of America market average.
  • Walt Disney's revenue growth is positive but not above 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 21 Analysts 1.5%
NYSE:DIS Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 21 Analysts 5.8%
United States of America Entertainment Industry Earnings Growth Rate Market Cap Weighted Average 16.4%
United States of America Entertainment Industry Revenue Growth Rate Market Cap Weighted Average 10.7%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.1%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*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 (2 months ago) See Below
Future Estimates Average of up to 21 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
2023-09-30 85,638 19,935 15,906 2
2022-09-30 74,749 18,802 13,743 4
2021-09-30 70,194 16,580 12,235 10
2020-09-30 65,414 15,199 11,243 18
2019-09-30 63,286 14,782 10,692 21
2018-09-30 58,903 14,205 12,294 19
NYSE:DIS Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-09-29 59,434 14,295 12,598
2018-06-30 57,906 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
2016-10-01 55,632 13,136 9,391
2016-07-02 56,002 12,943 9,229
2016-04-02 54,826 12,121 9,115
2016-01-02 54,318 11,510 9,080
2015-10-03 52,465 11,385 8,382

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Walt Disney's earnings are expected to grow by 1.5% yearly, however this is not considered high growth (20% yearly).
  • Walt Disney's revenue is expected to grow by 5.8% 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 (2 months ago) See Below
Future Estimates Average of up to 21 Analyst Estimates (S&P Global) See Below

All data from Walt Disney Company Filings, last reported 2 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
2023-09-30 9.94 10.16 9.72 2.00
2022-09-30 8.75 9.14 8.53 3.00
2021-09-30 7.99 8.25 7.71 6.00
2020-09-30 7.39 7.99 7.01 12.00
2019-09-30 7.01 7.69 6.44 13.00
2018-09-30 8.14 8.27 7.92 14.00
NYSE:DIS Past Financials Data
Date (Data in USD Millions) EPS *
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
2016-10-01 5.76
2016-07-02 5.60
2016-04-02 5.47
2016-01-02 5.40
2015-10-03 4.95

*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 0/6, 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 exceeds its 5-year average (40.3% vs 11.5%)
  • Walt Disney's earnings growth has not exceeded the US Entertainment industry average in the past year (40.3% vs 63.2%).
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 2 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
2018-09-29 59,434.00 12,598.00 8,860.00
2018-06-30 57,906.00 12,023.00 8,766.00
2018-03-31 56,916.00 11,473.00 8,576.00
2017-12-30 55,704.00 10,924.00 8,270.00
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
2013-03-30 43,765.00 5,970.00
2012-12-29 42,840.00 5,600.00
2012-09-29 42,278.00 5,682.00 7,960.00
2012-06-30 41,921.00 5,525.00
2012-03-31 41,508.00 5,170.00
2011-12-31 40,956.00 4,969.00

*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 efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Walt Disney used its assets more efficiently than the US Entertainment industry average last year based on Return on Assets.
  • Walt Disney's use of capital has not improved over the past 3 years (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 4/6, 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.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.8x 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 2 months ago.

NYSE:DIS Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
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
2013-03-30 44,144.00 16,937.00 3,952.00
2012-12-29 43,370.00 17,448.00 3,207.00
2012-09-29 41,958.00 14,595.00 3,387.00
2012-06-30 42,073.00 15,023.00 4,374.00
2012-03-31 39,912.00 16,029.00 3,731.00
2011-12-31 39,423.00 14,386.00 3,766.00
  • Walt Disney's level of debt (38.7%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (29.9% vs 38.7% today).
  • Debt is well covered by operating cash flow (68.5%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 25.8x 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 3/6, 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
1.59%
Current annual income from Walt Disney dividends. Estimated to be 1.71% next year.
If you bought $2,000 of Walt Disney shares you are expected to receive $32 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 higher dividend yield than the bottom 25% of dividend payers in United States of America (1.52%).
  • Walt Disney's dividend is below the markets top 25% of dividend payers in United States of America (3.77%).
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 21 Analyst Estimates (S&P Global) See Below
United States of America Entertainment Industry Average Dividend Yield Market Cap Weighted Average of 11 Stocks 1.3%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1983 Stocks 2.6%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.9%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

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
2023-09-30 2.09 1.00
2022-09-30 2.00 1.00
2021-09-30 2.02 5.00
2020-09-30 1.89 8.00
2019-09-30 1.81 12.00
2018-09-30 1.67 12.00
NYSE:DIS Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2018-11-28 1.760 1.548
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
2009-02-03 0.350 1.888
2008-12-18 0.350 1.607

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 (4.9x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.9x 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 0.9%) - 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 5/6, 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 Iger
COMPENSATION $36,283,680
AGE 67
TENURE AS CEO 13.2 years
CEO Bio

Mr. Robert A. Iger, also known as Bob, has been the Chairman of The Walt Disney Company since March 13, 2012 and has been its Chief Executive Officer since October 2, 2005. Mr. Iger served as the President of The Walt Disney Company since October 2005 and also served as its President and Chief Operating Officer from January 2000 to September 2005. He officially joined the Disney senior management team in 1996 as Chairman of the Disney-owned ABC Group and in 1999 was given the additional responsibility of President, Walt Disney International. Mr. Iger held a number of increasingly responsible positions at ABC, Inc. and its predecessor Capital Cities/ ABC, Inc., culminating in service as the President and Chief Operating Officer of ABC, Inc. from 1994 to 1999. He also worked at ABC Holding Company, Inc. He began his career at ABC in 1974 as a Studio Supervisor in New York, then moved to ABC Sports, where he advanced over a 12-year period through a series of increasingly responsible management posts. He has held a series of increasingly responsible senior management positions at ABC, where he guided the complex merger of ABC at The Walt Disney Company. Mr. Iger served as Vice President of Programming and was responsible for all scheduling and program acquisitions at ABC Sports since 1987. He served as the President of ABC Entertainment in Los Angeles. He served as the President of the ABC Television Network Group in New York since 1993. During his years at ABC, he oversaw its broadcast television network and station, cable television, radio and publishing businesses, which includes the market leading brands of ABC, ESPN, Lifetime, A&E and The History Channel. He served as the Chief Executive Officer of MarketWatch, Inc. since 2006. He was employed at ESPN Holding Company, Inc. He served as the Chairman of the Disney-owned ABC Group since 1996. Mr. Iger has been a Director of The Walt Disney Company since 2000. He has been an Independent Director of Apple Inc. since November 2011. He has been a Board Member of the U.S.-China Business Council since June 2011. He serves as a Director of Hulu Japan LLC. He serves as a Director of National September 11 Memorial & Museum at the World Trade Center Foundation, Inc., Lincoln Center for the Performing Arts, Inc., and New York City Outward Bound. He serves as a Trustee of American Film Institute. He serves as a Trustee of the Museum of Television and Radio of Ithaca College. He served as a Director of ABC, Inc. since 1994 and Infoseek Corporation since November 1998. Mr. Iger is a Member of the Partnership for a New American Economy, a coalition of mayors and business leaders from across the United States that support comprehensive immigration reform. In June 2010, he was appointed as U.S. President's Export Council, which advises the U.S. president on how to promote U.S. exports, jobs and growth. In 2012, Mr. Iger became a member of the Academy of Arts & Sciences, one of the nation’s most prestigious honorary societies, which recognizes some of the world’s most accomplished scholars, scientists, writers, artists and civic, corporate and philanthropic leaders. He serves on the Executive Advisory Board of the Elizabeth Glaser Pediatric AIDS Foundation. He has been named one of Fortune magazine's “25 Most Powerful People in Business” (2006, 2007); one of the “Top Gun CEOs” by Forbes magazine (2009); one of the “Best CEOs” by Institutional Investor magazine (2008, 2009, 2010, 2011); MarketWatch CEO of the Year (2006); and “CEO of the Year” by Chief Executive Magazine (2014). Mr. Iger received a BS in Communications from Ithaca College.

CEO Compensation
  • Bob's compensation has been consistent with company performance over the past year.
  • Bob's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

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

13.2
Average Tenure
63
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
Chairman & CEO
COMPENSATION
$36M
AGE
67
TENURE
13.2 yrs

Christine McCarthy

TITLE
Senior EVP & CFO
COMPENSATION
$9M
AGE
63
TENURE
3.5 yrs

Alan Braverman

TITLE
Senior EVP
COMPENSATION
$8M
AGE
70
TENURE
15.9 yrs

Mary Parker

TITLE
Senior EVP & Chief Human Resources Officer
COMPENSATION
$5M
AGE
57
TENURE
9.3 yrs

Kevin Mayer

TITLE
Chairman of Direct-to-Consumer & International Business Segment
COMPENSATION
$8M
AGE
56
TENURE
13.5 yrs

Lowell Singer

TITLE
Senior Vice President of Investor Relations

Zenia Mucha

TITLE
Senior Executive Vice President of Corporate Communications
AGE
62
TENURE
13.8 yrs

John Rood

TITLE
Senior Vice President of Marketing
TENURE
2.2 yrs

Ronald Iden

TITLE
Senior Vice President of Global Security
AGE
71
TENURE
14.4 yrs

Bob Chapek

TITLE
Chairman of Parks
TENURE
0.8 yrs
Board of Directors Tenure

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

6.5
Average Tenure
62.5
Average Age
  • The tenure for the Walt Disney board of directors is about average.
Board of Directors

Bob Iger

TITLE
Chairman & CEO
COMPENSATION
$36M
AGE
67
TENURE
6.8 yrs

Alan Horn

TITLE
Chairman of the Walt Disney Studios
AGE
75
TENURE
6.5 yrs

Jimmy Pitaro

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

Ben Sherwood

TITLE
Co-Chairman of Disney Media Networks & President of Disney | ABC Television Group
TENURE
3.8 yrs

Ivan Tavrin

TITLE
Chairman of The Board of Directors of New TV Channel Disney
AGE
42

Dana Walden

TITLE
Chairman of Disney Television Studios & ABC Entertainment
AGE
53

John Landgraf

TITLE
Chairman of FX Networks & FX Productions
TENURE
0.9 yrs

Gary Knell

TITLE
Chairman of National Geographic Partners
AGE
64

Aylwin Lewis

TITLE
Director
COMPENSATION
$340K
AGE
63
TENURE
14.9 yrs

John Chen

TITLE
Director
COMPENSATION
$376K
AGE
62
TENURE
14.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
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

External News
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Simply Wall St News

Does The Walt Disney Company (NYSE:DIS) Look Attractive Based On These Two Valuation Methods?

Choosing the right financial tool to evaluate a company can be a daunting task, especially when different models are giving you drastically different conclusions. … For instance, while my relative valuation model tells me The Walt Disney Company's (NYSE:DIS) is overvalued by 3.91%, my discounted cash flow (DCF) model signals a 29.55% undervaluation instead. … So, which valuation methodology should I listen to and why?

Simply Wall St -

Only 4 Days Left To Cash In On The Walt Disney Company (NYSE:DIS) Dividend

To qualify for the dividend check of US$0.88 per share, investors must have owned the shares prior to 07 December 2018, which is the last day the company's management will finalize their list of shareholders to which they will send dividend payments. … Investors looking for higher income-generating stocks to add to their portfolio should keep reading, as I take a deeper dive into Walt Disney's latest financial data to analyse its dividend attributes. … If you are a dividend investor, you should always assess these five key metrics:?

Simply Wall St -

What Kind Of Shareholders Own The Walt Disney Company (NYSE:DIS)?

The big shareholder groups in The Walt Disney Company (NYSE:DIS) have power over the company. … Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … With a market capitalization of US$168b, Walt Disney is rather large.

Simply Wall St -

What Are Analysts Expecting From The Walt Disney Company (NYSE:DIS) In The Years Ahead?

The latest earnings release The Walt Disney Company's (NYSE:DIS) announced in September 2018a

Simply Wall St -

Understanding Your Return On Investment In The Walt Disney Company (NYSE:DIS)

and want a simplistic look at the return on The Walt Disney Company (NYSE:DIS) stock. … Buying Walt Disney makes you a partial owner of the company. … Thus, to understand how your money can grow by investing in Walt Disney, you need to look at what the company returns to owners for the use of their capital, which can be done in many ways but today we will use return on capital employed (ROCE)

Simply Wall St -

Intrinsic Calculation For The Walt Disney Company (NYSE:DIS) Shows Investors Are Overpaying

How far off is The Walt Disney Company (NYSE:DIS) from its intrinsic value? … by taking the expected future cash flows and discounting them to their present value. … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model

Simply Wall St -

Is Now An Opportune Moment To Examine The Walt Disney Company (NYSE:DIS)?

maintained its current share price over the past couple of month on the NYSE, with a relatively tight range of $109.26 to $118.9? … However, does this price actually reflect the true value of the? … Let’s take a look at Walt Disney’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

A Spotlight On The Walt Disney Company's (NYSE:DIS) Fundamentals

As an investor, I look for investments which does not compromise one fundamental factor for another. … By this I mean, I look at stocks holistically, from their financial health to their future outlook. … In the case of The Walt Disney Company (NYSE:DIS), it

Simply Wall St -

Is The Walt Disney Company's (NYSE:DIS) CEO Incentives Align With Yours?

Leading The Walt Disney Company (NYSE:DIS) as the CEO, Bob Iger took the company to a valuation of US$167.29b. … Recognizing whether CEO incentives are aligned with shareholders is a crucial part of investing. … Incentives can be in the form of compensation, which should always be structured in a way that promotes value-creation to shareholders.

Simply Wall St -

The Walt Disney Company (NYSE:DIS): Time For A Financial Health Check

The Walt Disney Company (NYSE:DIS), a large-cap worth US$169.52b, comes to mind for investors seeking a strong and reliable stock investment. … Today we will look at Walt Disney’s financial liquidity and debt levels, which are strong indicators for whether the company can weather economic downturns or fund strategic acquisitions for future growth. … Remember this is a very top-level look that focuses exclusively on financial health, so I recommend a deeper analysis

Simply Wall St -

Company Info

Map
Description

The Walt Disney Company, together with its subsidiaries, operates as an entertainment company worldwide. The company’s Media Networks segment operates cable programming businesses under the ESPN, Disney, and Freeform brands; broadcast businesses, including ABC TV Network and eight owned television stations; and radio businesses. It also produces original live-action and animated television programming to first-run syndication and television markets; and subscription video-on-demand services and in home entertainment formats, as well as operates ESPN+, a direct-to-consumer streaming service providing multi-sports content. Its Parks and Resorts segment owns and operates the Walt Disney World Resort in Florida and the Disneyland Resort in California. This segment also operates Disney Resort & Spa in Hawaii, Disney Vacation Club, Disneyland Paris, Disney Cruise Line, and Adventures by Disney; and manages Hong Kong Disneyland Resort and Shanghai Disney Resort, 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 acquires live-action and animated motion pictures for distribution in the theatrical, home entertainment, and television markets primarily under the Walt Disney Pictures, Pixar, Marvel, Lucasfilm, and Touchstone banners. This segment also produces stage plays and musical recordings; licenses and produces live entertainment events; and provides visual and audio effects, and other post-production services. Its Consumer Products & Interactive Media segment licenses its trade names, characters, and visual and literary properties; develops and publishes mobile games, books, magazines, and comic books; distributes branded merchandise directly through retail, online, and wholesale businesses; offers Website management and design; and develops and distributes online video content. The company was founded in 1923 and is based in Burbank, California.

Details
Name: The Walt Disney Company
DIS
Exchange: NYSE
Founded: 1923
$167,028,882,160
1,488,670,964
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
BOVESPA DISB34 BDR EACH REPR 1 COM SHS Bolsa de Valores de Sao Paulo BR BRL 30. Jan 2012
BASE DISN 8 CEDEAR EACH REPR 1 COM USD0.01 Buenos Aires Stock Exchange AR ARS 10. Jan 2001
Number of employees
Current staff
Staff numbers
201,000
Walt Disney employees.
Industry
Movies and Entertainment
Media
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/12/17 23:34
End of day share price update: 2018/12/17 00:00
Last estimates confirmation: 2018/12/07
Last earnings filing: 2018/11/21
Last earnings reported: 2018/09/29
Last annual earnings reported: 2018/09/29


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.