Walt Disney Company (The) (DIS) is trading up at $111.67 (+1.90%) on NYSE/NASDAQ, as of the latest quote. It is a S&P 500 constituent in the Communication Services sector.
Current price targets from 10 firms average $131, median $133, ranging from $119 to $140 — the average is 17% above the current $112. Each is tracked to its date and scored the same way a member's call is.
Targets published by research firms, extracted from the news, checked against independent reporting, and linked to their source. Where a firm did not state a horizon the target is tracked as 12 months, the industry convention; the rows where the firm set its own horizon are marked. Reported here as facts about what was published — not recommendations from Dalsna Finance, and no firm listed is affiliated with this site.
| FY2017Sep 2017 | FY2018Sep 2018 | FY2019Sep 2019 | FY2020Oct 2020 | FY2021Oct 2021 | FY2022Oct 2022 | FY2023Sep 2023 | FY2024Sep 2024 | FY2025Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Income statement | |||||||||
| Revenue | $55.1B | $59.4B | $69.6B | $65.4B | $67.4B | $82.7B | $88.9B | $91.4B | $94.4B |
| Growth (year over year) | — | +7.8% | +17.1% | −6.1% | +3.1% | +22.7% | +7.5% | +2.8% | +3.4% |
| Operating income | $14.8B | $15.7B | $14.8B | $8.11B | $7.77B | $12.1B | $12.9B | $15.6B | $17.6B |
| Operating margin | 26.8% | 26.4% | 21.3% | 12.4% | 11.5% | 14.7% | 14.5% | 17.1% | 18.6% |
| Net income | $8.98B | $12.6B | $11.1B | −$2.86B | $2.00B | $3.15B | $2.35B | $4.97B | $12.4B |
| Net margin | 16.3% | 21.2% | 15.9% | −4.4% | 3.0% | 3.8% | 2.6% | 5.4% | 13.1% |
| EPS (diluted) | $5.69 | $8.36 | $6.64 | −$1.58 | $1.09 | $1.72 | $1.29 | $2.72 | $6.85 |
| Balance sheet | |||||||||
| Cash and equivalents | $4.02B | $4.15B | $5.42B | $17.9B | $16.0B | $11.6B | $14.2B | $6.00B | $5.70B |
| Total assets | — | $98.6B | $194.0B | $201.5B | $203.6B | $203.6B | $205.6B | $196.2B | $197.5B |
| Total liabilities | — | $45.9B | $100.1B | $113.3B | $110.6B | $104.8B | $101.6B | $90.7B | $82.9B |
| Long-term debt | — | $17.1B | $38.1B | $52.9B | $48.5B | $45.3B | $42.1B | $39.0B | $35.3B |
| Shareholders' equity | — | $48.8B | $88.9B | $83.6B | $88.6B | $95.0B | $99.3B | $100.7B | $109.9B |
| Cash flow | |||||||||
| Operating cash flow | $12.3B | $14.3B | $5.98B | $7.62B | $5.57B | $6.00B | $9.87B | $14.0B | $18.1B |
| Capital expenditure | $3.62B | $4.46B | $4.88B | $4.02B | $3.58B | $4.94B | $4.97B | $5.41B | $8.02B |
| Free cash flow | $8.72B | $9.83B | $1.11B | $3.59B | $1.99B | $1.06B | $4.90B | $8.56B | $10.1B |
| Dividends paid | $2.44B | $2.52B | $2.90B | $1.59B | $0 | $0 | $0 | $1.37B | $1.80B |
| Share buybacks | $9.37B | $3.58B | $0 | $0 | — | $0 | $0 | $2.99B | $3.50B |
| Q4 FY24†Sep 2024 | Q1 FY25Dec 2024 | Q2 FY25Mar 2025 | Q3 FY25Jun 2025 | Q4 FY25†Sep 2025 | Q1 FY26Dec 2025 | Q2 FY26Mar 2026 | Q3 FY26Jun 2026 | |
|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||
| Revenue | $22.6B | $24.7B | $23.6B | $23.6B | $22.5B | $26.0B | $25.2B | $25.2B |
| Growth (year over year) | +6.3% | +4.8% | +7.0% | +2.1% | −0.5% | +5.2% | +6.5% | +6.8% |
| Operating income | $3.65B | $5.06B | $4.44B | $4.58B | $3.48B | $4.60B | $4.60B | $5.55B |
| Operating margin | 16.2% | 20.5% | 18.8% | 19.3% | 15.5% | 17.7% | 18.3% | 22.0% |
| Net income | $460.0M | $2.55B | $3.27B | $5.26B | $1.31B | $2.40B | $2.25B | $2.64B |
| Net margin | 2.0% | 10.3% | 13.9% | 22.2% | 5.8% | 9.2% | 8.9% | 10.4% |
| EPS (diluted) | $0.26 | $1.40 | $1.81 | $2.92 | $0.72 | $1.34 | $1.27 | $1.51 |
| Balance sheet | ||||||||
| Cash and equivalents | $6.00B | $5.49B | $5.85B | $5.37B | $5.70B | $5.68B | $5.68B | $5.18B |
| Total assets | $196.2B | $197.0B | $195.8B | $196.6B | $197.5B | $202.1B | $205.2B | $204.7B |
| Total liabilities | $90.7B | $90.3B | $87.1B | $82.9B | $82.9B | $88.1B | $89.9B | $87.9B |
| Long-term debt | $39.0B | $38.7B | $36.4B | $36.5B | $35.3B | $35.8B | $38.5B | $37.4B |
| Shareholders' equity | $100.7B | $101.9B | $104.3B | $109.1B | $109.9B | $108.5B | $108.7B | $110.0B |
| Cash flow | ||||||||
| Operating cash flow | $5.52B | $3.21B | $6.75B | $3.67B | $4.47B | $735.0M | $6.91B | $4.87B |
| Capital expenditure | $1.49B | $2.47B | $1.86B | $1.78B | $1.92B | $3.01B | $1.97B | $1.79B |
| Free cash flow | $4.03B | $739.0M | $4.89B | $1.89B | $2.56B | −$2.28B | $4.94B | $3.07B |
| Dividends paid | $817.0M | — | — | $0 | $898.0M | — | — | $0 |
| Share buybacks | $469.0M | $794.0M | $991.0M | $711.0M | $1.00B | $2.03B | $3.47B | $1.75B |
From Walt Disney Company (The)'s 10-K and 10-Q filings with the SEC; its fiscal year ends in September. Each period shows the latest figure the company has reported for it, including restatements. Net margin is our own calculation from those reported figures (net income ÷ revenue); it is left blank where revenue is zero or missing. † Quarter derived from the company's year-to-date or full-year totals. Filings on SEC EDGAR →
Walt Disney Company (The)'s latest reported figures next to the median of the other 20 S&P 500 Communication Services companies and of the other 502 S&P 500 companies; each median is taken over the companies with a comparable figure (counts in the footnote). A median is the middle value, not an average, so one very large company does not move it.
| Measure | Walt Disney Company (The) | Communication Services (20 other S&P 500 companies) | S&P 500 (502 other companies) |
|---|---|---|---|
| Revenue growth, latest fiscal year | +3.4% | +6.8% | +7.0% |
| Net margin, latest fiscal year | 13.1% | 9.8% | 12.9% |
| Share price change, 1 year | −2.3% | +3.0% | +6.9% |
Walt Disney Company (The): fiscal year ended September 2025, from its 10-K and 10-Q filings with the SEC. Medians computed October 21, 2026 from each company's latest annual filing (fiscal years ending between July 2025 and September 2026) and our price archive. Prices for every company, Walt Disney Company (The) included, are the last regular-session prices of October 20, 2026; the 1-year change compares that price with each company's last close on or before October 21, 2025. Net margin and price change are our calculations from reported figures. Each median counts only the companies with a comparable figure (sector / S&P 500): revenue growth 19/496, net margin 19/496, 1-year price change 19/488; the reasons below can overlap. 14 are left out of the price figure because our archive holds no comparable close for them. The S&P 500 price figure is the middle company's change, not the index's return.
The Walt Disney Company, a Delaware corporation based in Burbank, California, describes itself in its annual report for fiscal 2025 (Form 10-K) as a diversified worldwide entertainment company with operations in three segments: Entertainment, Sports and Experiences. Entertainment covers its non-sports film and episodic content, including the ABC Television Network, the Disney, Freeform, FX and National Geographic channels and the Disney+ and Hulu streaming services; Sports covers ESPN; and Experiences covers its theme parks and resorts, Disney Cruise Line, Disney Vacation Club and consumer products. Its fiscal year ends on the Saturday closest to September 30 and usually has 52 weeks; the 10-K says fiscal 2025, 2024 and 2023 were fifty-two week years and fiscal 2026 will be a fifty-three week year. Its common stock trades on the New York Stock Exchange under the symbol DIS.
For fiscal 2025, the year ended September 27, 2025, the consolidated statements of income report total revenues of $94,425 million (services $84,588 million, products $9,837 million), income before income taxes of $12,003 million, net income attributable to Disney of $12,404 million and diluted earnings per share of $6.85. Income taxes were a benefit of $1,428 million, which included a non-cash tax benefit of approximately $3.3 billion recognized when Hulu's U.S. income tax classification changed after the company completed its acquisition of NBC Universal's interest in Hulu. Cash provided by operations was $18,101 million and investments in parks, resorts and other property $8,024 million (10-K).
At September 27, 2025 the company reported total assets of $197,514 million, borrowings of $35,315 million plus a current portion of $6,711 million, and total Disney shareholders' equity of $109,869 million. In fiscal 2025 it repurchased 32 million shares of its common stock for $3.5 billion, and on November 13, 2025 it declared a dividend of $1.50 per share, payable in two semi-annual installments of $0.75 per share on January 15, 2026 and July 22, 2026 (10-K).
According to its 10-Q for the quarter ended June 27, 2026 (the third quarter of fiscal 2026, unaudited), total revenues were $25,248 million for the quarter and $76,397 million for the nine months. Net income attributable to Disney was $2,638 million for the quarter, or $1.51 per diluted share, after restructuring and impairment charges of $900 million that included $0.8 billion for an impairment of its investment in A+E Global Media. On January 31, 2026 ESPN acquired NFL Network and certain other NFL media assets in exchange for a 10% noncontrolling interest in ESPN, after which the company has an effective 72% interest in ESPN. In July 2026 the company agreed to sell its 50% interest in A+E to an affiliate of co-owner Hearst Corporation for approximately $1.2 billion in cash (10-Q).
In its earnings release for the quarter, the company reported diluted EPS excluding certain items (adjusted EPS, a non-GAAP measure) of $2.06 and said it is now targeting at least $9 billion in share repurchases in fiscal 2026; it also said it continues to expect fiscal 2026 adjusted EPS growth of approximately 12%, excluding the impact of the 53rd week (company projection, as reported in the Form 8-K exhibit).
On February 2, 2026 the Board of Directors appointed Josh D'Amaro, then Chairman of Disney Experiences, as Chief Executive Officer, and Robert A. Iger, then Chief Executive Officer, as Senior Advisor, both effective March 18, 2026; Dana Walden, Co-Chairman of Disney Entertainment, was appointed President and Chief Creative Officer from the same date (Form 8-K). On March 18, 2026 the Board appointed Mr. D'Amaro a director (Form 8-K). Hugh F. Johnston is Senior Executive Vice President and Chief Financial Officer (10-Q). The company employed approximately 231,000 people as of fiscal year end 2025, about 172,000 of them in the U.S. (10-K).
| Fiscal year | Revenue (as reported in 10-K) | Reported as | Filed |
|---|---|---|---|
| 2021 | $67,418 million6 | Form 10-K for fiscal year 2021 (52 weeks ended October 2, 2021), total revenues, in millions as filed | Nov 24, 2021 |
| 2022 | $82,722 million7 | Form 10-K for fiscal year 2022 (year ended October 1, 2022), total revenues, in millions as filed | Nov 29, 2022 |
| 2023 | $88,898 million8 | Form 10-K for fiscal year 2023 (year ended September 30, 2023), total revenues, in millions as filed | Nov 21, 2023 |
| 2024 | $91,361 million9 | Form 10-K for fiscal year 2024 (year ended September 28, 2024), total revenues, in millions as filed | Nov 14, 2024 |
| 2025 | $94,425 million1 | Form 10-K for fiscal year 2025 (year ended September 27, 2025), total revenues, in millions as filed | Nov 13, 2025 |
Figures last checked against the sources above on . General information, not investment advice.