Earnings quality
Compare earnings and operating cash flow for earnings quality.
The Walt Disney Company
Ticker DIS · 🇺🇸 United States · Consolidated US GAAP · amounts in dollars
Filed 2025-11-13 · Period end 2025-09-27
Takeaway
Worth trackingSales and operating profit both moved in a healthier direction.
operating margin is 18.6%; equity ratio is 55.6%.
Sales and operating profit moved together — keep watching margins and whether the trend persists next period.
ActionWorth tracking
OP margin18.6%
Equity ratio55.6%
Last priceUSD 118.95
Trailing P/E—
Look at next
- Compare operating cash flow to reported profit across the last two years.
- Open English IR for management commentary on outlook and capital allocation.
- Overlay peers on Compare before judging relative momentum.
About the company
WALT DISNEY CO/ is a US-listed company with consolidated financial statements filed on SEC EDGAR.
Compare trends
Tel (818) 560-1000 · As of filing date 2025-11-13
Financial statements
Income statement
| Account | FY2024 (ended Sep 28, 2024) | FY2025 (ended Sep 27, 2025) |
|---|---|---|
| Revenue | $91.4B | $94.4B |
| Cost of sales* | — | — |
| Gross profit | — | — |
| Operating profit | $15.6B | $17.6B |
| Income tax | $1.8B | -$1.4B |
| Net income | $5.0B | $12.4B |
| Basic EPS | — | — |
Balance sheet
| Account | FY2024 (ended Sep 28, 2024) | FY2025 (ended Sep 27, 2025) |
|---|---|---|
| Cash & equivalents | $6.0B | $5.7B |
| Current assets | $25.2B | $24.3B |
| Non-current assets* | $171.0B | $173.2B |
| Total assets | $196.2B | $197.5B |
| Current liabilities | $34.6B | $34.2B |
| Non-current liabilities* | — | — |
| Total liabilities | — | — |
| Stockholders’ equity | $100.7B | $109.9B |
Cash flow statement
| Account | FY2024 (ended Sep 28, 2024) | FY2025 (ended Sep 27, 2025) |
|---|---|---|
| Operating cash flow | $14.0B | $18.1B |
| Investing cash flow | -$6.9B | -$8.0B |
| Financing cash flow | -$15.3B | -$10.4B |
| Cash at end of period | $6.0B | $5.7B |
Five-year trends
Key metrics
| Metric | Trend | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | $67.4B | $82.7B | $88.9B | $91.4B | $94.4B | |
| Operating profit | $7.8B | $12.1B | $12.9B | $15.6B | $17.6B | |
| Net income | $2.0B | $3.1B | $2.4B | $5.0B | $12.4B | |
| Total assets | $203.6B | $203.6B | $205.6B | $196.2B | $197.5B | |
| Cash & equivalents | $16.0B | $11.6B | $14.2B | $6.0B | $5.7B | |
| Stockholders’ equity | $88.6B | $95.0B | $99.3B | $100.7B | $109.9B |
How we read these numbers
From the notes
No material one-offs extracted from this filing.
Constructive
Sales and operating profit both moved in a healthier direction.
On the income statement, revenue moved from $91.4B to $94.4B (▲ +3.4%). Operating profit went from $15.6B to $17.6B (▲ +12.5%).
Operating cash flow was $18.1B (prior $14.0B), with cash on the balance sheet at $5.7B versus $6.0B.
Liquidity & leverage
Cash moved from $6.0B to $5.7B; current liabilities $34.2B.
Capital buffer
Stockholders’ equity moved from $100.7B to $109.9B.
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Source: SEC EDGAR 0001744489-25-000155
(WALT DISNEY CO/), period end 2025-09-27.