The Walt Disney Company
Financial ratios & Valuation

Forward Multiples (2025 – 2028)

202520252026202620272028
Price/Earnings ratio
23.6623.5620.3320.4216.6815.41
Price/Sales ratio
2.192.132.082.012.001.85
Earnings per Share (EPS)
$4.90$4.92$5.70$5.68$6.95$7.53

Historical Multiples (2015 – 2024)

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 TTM Median
Valuation Ratios
Price/Earnings ratio
20.6516.1017.2113.8320.64-78.23157.9253.8262.9335.2440.6920.64
Price/Sales ratio
3.292.712.802.933.093.384.742.071.661.912.213.38
Price/Book Value ratio
3.883.493.743.572.422.653.601.801.491.742.002.65
Price/Cash Flow ratio
15.8711.4412.5212.1832.5729.0857.4128.5915.0112.5414.4829.08
Price/Free Cash Flow ratio
26.0517.9217.7217.72124.4061.61160.70161.0730.2520.4723.6061.61
Price/Earnings Growth ratio
1.390.98-33.040.29-0.820.62-0.920.93-2.390.314.43-0.82
Dividend Yield
1.76%1.52%1.58%1.44%1.34%0.71%N/AN/AN/A0.77%0.85%0.71%
Profitability Indicator Ratios
Gross Profit Margin
45.93%46.31%45.03%44.93%39.57%32.89%33.05%34.23%33.40%35.75%35.75%35.75%
Operating Profit Margin
25.20%26.04%25.16%24.96%17.28%5.78%5.17%8.25%10.11%12.67%13.26%13.26%
Pretax Profit Margin
26.43%26.72%25.00%24.78%20.00%-2.66%3.79%6.38%5.36%8.28%8.28%8.28%
Net Profit Margin
15.97%16.88%16.28%21.19%14.97%-4.33%3.00%3.85%2.64%5.44%5.44%5.44%
Effective Tax Rate
36.16%34.15%32.07%11.29%21.76%-40.10%0.97%32.77%28.91%23.72%23.72%21.76%
Return on Assets
9.50%10.20%9.37%12.77%5.37%-1.40%0.99%1.56%1.14%2.53%2.53%2.53%
Return On Equity
18.82%21.70%21.73%25.82%11.72%-3.38%2.28%3.36%2.37%4.93%4.95%4.95%
Return on Capital Employed
18.40%19.26%18.20%18.37%7.40%2.16%2.02%3.91%5.15%7.16%7.49%7.40%
Liquidity Ratios
Current Ratio
1.021.000.810.940.891.32N/AN/AN/AN/A0.721.32
Quick Ratio
0.920.920.740.860.831.261.040.940.980.670.671.26
Cash ratio
0.260.270.200.230.170.670.510.390.450.170.170.17
Days of Sales Outstanding
55.7859.4757.1457.3281.1770.9372.3655.8250.6250.8550.8570.93
Days of Inventory outstanding
20.2116.9816.5315.5214.3013.1610.7611.6812.1012.5712.5713.16
Operating Cycle
76.0076.4673.6872.8495.4884.1083.1367.5162.7263.4263.4284.10
Days of Payables Outstanding
70.8283.8475.9372.52119.56109.65132.28108.7293.2592.0092.00109.65
Cash Conversion Cycle
5.17-7.37-2.250.31-24.07-25.55-49.15-41.21-30.52-28.57-28.57-25.55
Debt Ratios
Debt Ratio
0.190.210.260.210.240.290.260.230.220.230.230.29
Debt Equity Ratio
0.380.460.610.420.520.700.610.500.460.450.450.70
Long-term Debt to Capitalization
0.220.270.310.250.300.380.350.320.290.270.270.38
Total Debt to Capitalization
0.280.310.370.290.340.410.380.330.310.310.310.41
Interest Coverage Ratio
49.9040.5527.3621.7511.602.30N/AN/AN/AN/A5.852.30
Cash Flow to Debt Ratio
0.620.650.480.680.140.120.100.120.210.300.300.14
Company Equity Multiplier
1.982.122.312.022.182.412.292.142.071.941.942.41
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.200.230.220.240.090.110.080.070.110.150.150.09
Free Cash Flow / Operating Cash Flow Ratio
0.600.630.700.680.260.470.350.170.490.610.610.26
Cash Flow Coverage Ratio
0.620.650.480.680.140.120.100.120.210.300.300.14
Short Term Coverage Ratio
2.393.581.993.770.741.330.941.952.272.042.040.74
Dividend Payout Ratio
36.54%24.63%27.22%19.96%27.76%-56.03%N/AN/AN/A27.47%27.47%-56.03%