Stock Analysis on Net

Walt Disney Co. (NYSE:DIS)

Analysis of Profitability Ratios

Microsoft Excel

Profitability Ratios (Summary)

Walt Disney Co., profitability ratios

Microsoft Excel
Sep 30, 2023 Oct 1, 2022 Oct 2, 2021 Oct 3, 2020 Sep 28, 2019 Sep 29, 2018
Return on Sales
Gross profit margin 33.41% 34.24% 33.06% 32.89% 39.60% 44.94%
Operating profit margin 5.74% 7.90% 4.46% -2.97% 15.33% 24.91%
Net profit margin 2.65% 3.80% 2.96% -4.38% 15.89% 21.20%
Return on Investment
Return on equity (ROE) 2.37% 3.31% 2.25% -3.43% 12.44% 25.83%
Return on assets (ROA) 1.15% 1.54% 0.98% -1.42% 5.70% 12.78%

Based on: 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-10-01), 10-K (reporting date: 2021-10-02), 10-K (reporting date: 2020-10-03), 10-K (reporting date: 2019-09-28), 10-K (reporting date: 2018-09-29).

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Walt Disney Co. gross profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Walt Disney Co. operating profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Walt Disney Co. net profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Walt Disney Co. ROE improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.
ROA A profitability ratio calculated as net income divided by total assets. Walt Disney Co. ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.

Gross Profit Margin

Walt Disney Co., gross profit margin calculation, comparison to benchmarks

Microsoft Excel
Sep 30, 2023 Oct 1, 2022 Oct 2, 2021 Oct 3, 2020 Sep 28, 2019 Sep 29, 2018
Selected Financial Data (US$ in millions)
Gross profit 29,697 28,321 22,287 21,508 27,552 26,708
Revenues 88,898 82,722 67,418 65,388 69,570 59,434
Profitability Ratio
Gross profit margin1 33.41% 34.24% 33.06% 32.89% 39.60% 44.94%
Benchmarks
Gross Profit Margin, Competitors2
Alphabet Inc. 56.63% 55.38% 56.94% 53.58% 55.58%
Charter Communications Inc. 38.83% 39.14% 39.09% 37.77% 36.14%
Comcast Corp. 69.76% 68.53% 66.96% 68.02% 68.39%
Meta Platforms Inc. 80.76% 78.35% 80.79% 80.58% 81.94%
Netflix Inc. 41.54% 39.37% 41.64% 38.89% 38.28%

Based on: 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-10-01), 10-K (reporting date: 2021-10-02), 10-K (reporting date: 2020-10-03), 10-K (reporting date: 2019-09-28), 10-K (reporting date: 2018-09-29).

1 2023 Calculation
Gross profit margin = 100 × Gross profit ÷ Revenues
= 100 × 29,697 ÷ 88,898 = 33.41%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Walt Disney Co. gross profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.

Operating Profit Margin

Walt Disney Co., operating profit margin calculation, comparison to benchmarks

Microsoft Excel
Sep 30, 2023 Oct 1, 2022 Oct 2, 2021 Oct 3, 2020 Sep 28, 2019 Sep 29, 2018
Selected Financial Data (US$ in millions)
Operating income (loss) 5,100 6,533 3,005 (1,941) 10,668 14,804
Revenues 88,898 82,722 67,418 65,388 69,570 59,434
Profitability Ratio
Operating profit margin1 5.74% 7.90% 4.46% -2.97% 15.33% 24.91%
Benchmarks
Operating Profit Margin, Competitors2
Alphabet Inc. 27.42% 26.46% 30.55% 22.59% 21.15%
Charter Communications Inc. 23.00% 22.14% 20.37% 17.48% 14.23%
Comcast Corp. 19.18% 11.56% 17.89% 16.89% 19.39%
Meta Platforms Inc. 34.66% 24.82% 39.65% 38.01% 33.93%
Netflix Inc. 20.62% 17.82% 20.86% 18.34% 12.92%
Operating Profit Margin, Sector
Media & Entertainment 24.15% 20.60% 25.91% 20.06% 20.78%
Operating Profit Margin, Industry
Communication Services 22.26% 16.99% 22.35% 16.41% 19.54%

Based on: 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-10-01), 10-K (reporting date: 2021-10-02), 10-K (reporting date: 2020-10-03), 10-K (reporting date: 2019-09-28), 10-K (reporting date: 2018-09-29).

1 2023 Calculation
Operating profit margin = 100 × Operating income (loss) ÷ Revenues
= 100 × 5,100 ÷ 88,898 = 5.74%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Walt Disney Co. operating profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.

Net Profit Margin

Walt Disney Co., net profit margin calculation, comparison to benchmarks

Microsoft Excel
Sep 30, 2023 Oct 1, 2022 Oct 2, 2021 Oct 3, 2020 Sep 28, 2019 Sep 29, 2018
Selected Financial Data (US$ in millions)
Net income (loss) attributable to The Walt Disney Company (Disney) 2,354 3,145 1,995 (2,864) 11,054 12,598
Revenues 88,898 82,722 67,418 65,388 69,570 59,434
Profitability Ratio
Net profit margin1 2.65% 3.80% 2.96% -4.38% 15.89% 21.20%
Benchmarks
Net Profit Margin, Competitors2
Alphabet Inc. 24.01% 21.20% 29.51% 22.06% 21.22%
Charter Communications Inc. 8.35% 9.36% 9.01% 6.70% 3.64%
Comcast Corp. 12.66% 4.42% 12.17% 10.17% 11.99%
Meta Platforms Inc. 28.98% 19.90% 33.38% 33.90% 26.15%
Netflix Inc. 16.04% 14.21% 17.23% 11.05% 9.26%
Net Profit Margin, Sector
Media & Entertainment 18.97% 14.69% 22.06% 16.27% 16.87%
Net Profit Margin, Industry
Communication Services 16.26% 11.36% 18.22% 11.24% 14.02%

Based on: 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-10-01), 10-K (reporting date: 2021-10-02), 10-K (reporting date: 2020-10-03), 10-K (reporting date: 2019-09-28), 10-K (reporting date: 2018-09-29).

1 2023 Calculation
Net profit margin = 100 × Net income (loss) attributable to The Walt Disney Company (Disney) ÷ Revenues
= 100 × 2,354 ÷ 88,898 = 2.65%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Walt Disney Co. net profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Return on Equity (ROE)

Walt Disney Co., ROE calculation, comparison to benchmarks

Microsoft Excel
Sep 30, 2023 Oct 1, 2022 Oct 2, 2021 Oct 3, 2020 Sep 28, 2019 Sep 29, 2018
Selected Financial Data (US$ in millions)
Net income (loss) attributable to The Walt Disney Company (Disney) 2,354 3,145 1,995 (2,864) 11,054 12,598
Total Disney Shareholder’s equity 99,277 95,008 88,553 83,583 88,877 48,773
Profitability Ratio
ROE1 2.37% 3.31% 2.25% -3.43% 12.44% 25.83%
Benchmarks
ROE, Competitors2
Alphabet Inc. 26.04% 23.41% 30.22% 18.09% 17.05%
Charter Communications Inc. 41.11% 55.43% 33.12% 13.53% 5.30%
Comcast Corp. 18.61% 6.63% 14.73% 11.66% 15.78%
Meta Platforms Inc. 25.53% 18.45% 31.53% 22.72% 18.29%
Netflix Inc. 26.27% 21.62% 32.28% 24.96% 24.62%
ROE, Sector
Media & Entertainment 21.62% 17.23% 23.91% 14.84% 15.68%
ROE, Industry
Communication Services 19.21% 13.78% 20.53% 11.56% 14.87%

Based on: 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-10-01), 10-K (reporting date: 2021-10-02), 10-K (reporting date: 2020-10-03), 10-K (reporting date: 2019-09-28), 10-K (reporting date: 2018-09-29).

1 2023 Calculation
ROE = 100 × Net income (loss) attributable to The Walt Disney Company (Disney) ÷ Total Disney Shareholder’s equity
= 100 × 2,354 ÷ 99,277 = 2.37%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Walt Disney Co. ROE improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.

Return on Assets (ROA)

Walt Disney Co., ROA calculation, comparison to benchmarks

Microsoft Excel
Sep 30, 2023 Oct 1, 2022 Oct 2, 2021 Oct 3, 2020 Sep 28, 2019 Sep 29, 2018
Selected Financial Data (US$ in millions)
Net income (loss) attributable to The Walt Disney Company (Disney) 2,354 3,145 1,995 (2,864) 11,054 12,598
Total assets 205,579 203,631 203,609 201,549 193,984 98,598
Profitability Ratio
ROA1 1.15% 1.54% 0.98% -1.42% 5.70% 12.78%
Benchmarks
ROA, Competitors2
Alphabet Inc. 18.34% 16.42% 21.16% 12.60% 12.45%
Charter Communications Inc. 3.10% 3.50% 3.27% 2.23% 1.13%
Comcast Corp. 5.81% 2.09% 5.13% 3.85% 4.96%
Meta Platforms Inc. 17.03% 12.49% 23.72% 18.29% 13.86%
Netflix Inc. 11.10% 9.24% 11.48% 7.03% 5.49%
ROA, Sector
Media & Entertainment 10.83% 8.40% 11.86% 7.30% 7.67%
ROA, Industry
Communication Services 7.63% 5.30% 8.05% 4.53% 5.92%

Based on: 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-10-01), 10-K (reporting date: 2021-10-02), 10-K (reporting date: 2020-10-03), 10-K (reporting date: 2019-09-28), 10-K (reporting date: 2018-09-29).

1 2023 Calculation
ROA = 100 × Net income (loss) attributable to The Walt Disney Company (Disney) ÷ Total assets
= 100 × 2,354 ÷ 205,579 = 1.15%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROA A profitability ratio calculated as net income divided by total assets. Walt Disney Co. ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.