Disney DIS
NYSE · Services-Miscellaneous Amusement & Recreation · $205.4B$117.22−1.45%Nov 5 close · Databento
DIS Wire Story Reactions & EOD Technical StudyDaily closes (Databento EOD) pinned with every AlgoThesis Wire story (dot colour = next trading day close) and SEC filing
Nov 5, 2026CLOSE $117.221D −1.45%3M +13.61%SMA20 $111.46SMA50 $107.84RSI(14) 68.1
117.22
RSI (14, Wilder EOD) · 70 Overbought / 30 OversoldRSI 68.1
Data provided by Databento (end of day). Next close = the first close after a story against the close before it; official daily closes only, not a call, not advice.
The numbers
fiscal 2025, as filed with the SEC · 66-metric EOD snapshot via DatabentoMarket cap$205.4B
EV / True FCF28.5x
Revenue$94.4B +3.4%
True FCF (ex-SBC)$8.7B +17.7%
Rule of 4014.1%
ROIC12.5%
True FCF Yield4.2%
EPS, diluted$6.85 +151.8%
Modern Valuation (EOD)
Market Cap$205.4B
Enterprise Value$248.3B
EV / True FCF28.50
EV / FCF24.64
EV / Gross Profit—
EV / EBIT14.15
EV / Sales2.63
P / E (GAAP)16.56
P / FCF20.38
P / Oper. CF11.35
P / Book1.79
Owner & Cash Yields
True FCF Yield4.2%
FCF Yield4.9%
Owner Earn. Yield4.1%
Earnings Yield6.0%
Shareholder Yield+1.9%
Buyback Yield1.7%
Dividend Yield1.43%
Dividend / sh$1.68
Payout Ratio15%
FCF / sh$5.84
EPS (diluted)$6.85
Compounder & Returns
Rule of 4014.1%
ROIC12.5%
Cash ROIC (CROIC)6.4%
GP / Assets—
ROE10.8%
ROA6.3%
Gross Margin—
Oper. Margin18.6%
Net Margin13.1%
FCF Margin10.7%
True FCF Margin9.2%
Quality & Dilution
Cash Conversion81%
Accrual Ratio−2.9%
SBC % of FCF13.5%
SBC % of Rev1.4%
Reinvest. Rate44%
Sales Growth Y/Y+3.4%
Sales 3Y CAGR+4.5%
EPS Growth Y/Y+151.8%
FCF Growth Y/Y+17.7%
FCF 3Y CAGR+111.9%
Share Change Y/Y−1.1%
Balance Sheet & Scale
Revenue (FY)$94.4B
Gross Profit (FY)—
Oper. Income (FY)$17.6B
GAAP Net Income$12.4B
True FCF (ex-SBC)$8.7B
Cash & Equiv$5.8B
Total Debt$48.7B
Net Cash (Debt)$-42.9B
Net Cash % MCap−20.9%
Debt / FCF (yrs)4.8y
Current Ratio0.711.73B sh
Price & Technicals (EOD)
Perf Week+5.69%
Perf Month+11.90%
Perf Quarter+11.73%
Perf Half Y+7.88%
Perf YTD+10.27%
SMA 20 Dist+5.17%$111.46
SMA 50 Dist+8.70%$107.84
SMA 100 Dist+12.56%$104.14
Window High−1.45%$118.95
Window Low+26.27%$92.83
RSI (14) · Vol68.122%v
Income Distribution & Cash Flow ConversionHow every dollar of DIS revenue flows through cost of goods, operating expenses, taxes, GAAP net income, and dilution-adjusted free cash flow
Where Every $100 of Revenue Goes (FY2025)
Cost of Revenue (COGS)$0 ($0.0 / $100)
SG&A & Other OpEx$76.9B ($81.4 / $100)
Tax & Non-Operating$5.1B ($5.5 / $100)
Net Profit Kept$12.4B ($13.1 / $100)
Earnings Quality: GAAP Profit → True Owner Cash (FY2025)
GAAP Net Income$12.4B (13.1% margin)
Operating Cash Flow (OCF)$18.1B(19.2% of rev)
Less: Capital Expenditures−$8.0B(8.5% of rev)
Standard Free Cash Flow (FCF)$10.1B(10.7% margin)
Less: Stock-Based Comp (SBC)−$1.4B(13.5% of FCF)
True FCF (Owner Cash ex-SBC)$8.7B(9.2% of rev)
Revenue by fiscal year
Operating leverage — margins
GrossOperatingNet
| Line Item (USD) | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY Δ | 4Y CAGR | Trend |
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | $67.4B | $82.7B | $88.9B | $91.4B | $94.4B | +3.4% | +8.8% | |
| Selling, General & Admin (SG&A) | $13.5B | $16.4B | $15.3B | $15.8B | $16.5B | +4.7% | +5.1% | |
| Operating Income (EBIT) | $7.8B | $12.1B | $12.9B | $15.6B | $17.6B | +12.5% | +22.6% | |
| Interest Expense | $-1.5B | $-1.5B | $-2.0B | $-2.1B | $-1.8B | +12.5% | — | |
| Income Tax Expense | $25.0M | $1.7B | $1.4B | $1.8B | $-1.4B | −179.5% | — | |
| GAAP Net Income | $2.0B | $3.1B | $2.4B | $5.0B | $12.4B | +149.5% | +57.9% | |
| Diluted EPS | $1.09 | $1.72 | $1.29 | $2.72 | $6.85 | +151.8% | +58.3% | |
| Diluted Shares | 1.83B | 1.83B | 1.83B | 1.83B | 1.81B | −1.1% | −0.2% | |
| Balance Sheet | ||||||||
| Cash & Equivalents | $16.0B | $11.7B | $14.2B | $6.1B | $5.8B | −5.0% | −22.4% | |
| Inventory | $1.3B | $1.7B | $2.0B | $2.0B | $2.1B | +5.5% | +12.5% | |
| Total Current Assets | $33.7B | $29.1B | $32.8B | $25.2B | $24.3B | −3.9% | −7.9% | |
| Total Assets | $203.6B | $203.6B | $205.6B | $196.2B | $197.5B | +0.7% | −0.8% | |
| Total Current Liabilities | $31.1B | $29.1B | $31.1B | $34.6B | $34.2B | −1.3% | +2.4% | |
| Total Debt (Short + Long Term) | $60.3B | $51.4B | $50.8B | $52.7B | $48.7B | −7.4% | −5.2% | |
| Stockholders' Equity | $93.0B | $98.9B | $104.0B | $105.5B | $114.6B | +8.6% | +5.4% | |
| Net Cash / (Net Debt) | $-44.3B | $-39.8B | $-36.5B | $-46.6B | $-42.9B | +7.8% | — | |
| Invested Capital | $137.3B | $138.7B | $140.5B | $152.1B | $157.6B | +3.6% | +3.5% | |
| Cash Flow & Capital Allocation | ||||||||
| Operating Cash Flow (OCF) | $5.6B | $6.0B | $9.9B | $14.0B | $18.1B | +29.6% | +34.3% | |
| Depreciation & Amortization (D&A) | $5.1B | $5.2B | $5.4B | $5.0B | $5.3B | +6.7% | +1.0% | |
| Stock-Based Compensation (SBC) | $600.0M | $977.0M | $1.1B | $1.4B | $1.4B | −0.2% | +22.8% | |
| Capital Expenditures (CapEx) | $3.6B | $4.9B | $5.0B | $5.4B | $8.0B | +48.3% | +22.4% | |
| Free Cash Flow (FCF) | $2.0B | $1.1B | $4.9B | $8.6B | $10.1B | +17.7% | +50.0% | |
| True FCF (ex-SBC Owner Cash) | $1.4B | $82.0M | $3.8B | $7.2B | $8.7B | +21.1% | +58.3% | |
| Share Repurchases (Buybacks) | — | $0 | $0 | $3.0B | $3.5B | +17.0% | — | |
| Dividends Paid | $0 | $0 | $0 | $1.4B | $1.8B | +32.0% | — | |
Fundamentals, income distribution and multi-year statements from SEC EDGAR filings (public domain). Valuation multiples, performance and technicals computed from Databento 1D EOD closes. For information only, not investment advice.
On the Wire
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