Common-Size Balance Sheet: Assets
Quarterly Data
Walt Disney Co., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2025-06-28), 10-Q (reporting date: 2025-03-29), 10-Q (reporting date: 2024-12-28), 10-K (reporting date: 2024-09-28), 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-Q (reporting date: 2023-12-30), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-Q (reporting date: 2022-01-01), 10-K (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-Q (reporting date: 2021-01-02), 10-K (reporting date: 2020-10-03), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-Q (reporting date: 2019-12-28), 10-K (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30), 10-Q (reporting date: 2018-12-29).
- Cash and cash equivalents
- Cash and cash equivalents as a percentage of total assets showed an overall declining trend following a peak in mid-2020. Starting from 4.46% at the end of 2018, it rose sharply to 11.13% in June 2020, likely reflecting increased liquidity during the early pandemic period. Thereafter, it gradually decreased to around 2.73% by mid-2025, indicating a reduction in readily available cash relative to total assets.
- Receivables, net
- This item fluctuated moderately, starting at 10.13% in late 2018, dipping to lows around 6% throughout 2023-2024, and stabilizing near 6.8% by mid-2025. The trend suggests more conservative or efficient management of receivables over time.
- Inventories
- Inventories remained relatively stable yet showed a modest upward trend, increasing from 1.36% at the end of 2018 to just over 1.06% in mid-2025, reflecting a gradual buildup in inventory holdings relative to total assets.
- Content advances
- Content advances exhibited variability without a clear long-term trend. They peaked at 2.52% in early 2019, fell sharply toward the end of 2019, and fluctuated between approximately 0.5% and 1.5% thereafter, ending near 0.89% in mid-2025, indicating cyclical or project-based content investment patterns.
- Other current assets
- Other current assets were generally stable at around 0.4-0.6% until early 2023, after which there was a transient increase peaking above 1.3% before falling back to about 0.62% by mid-2025. This may reflect temporary shifts in working capital management.
- Current assets
- Current assets as a percentage of total assets declined from 17.55% at the end of 2018 to around 12-13% during 2023-2025, after an intermediate rise during 2020. This indicates a gradual shift from current to long-term asset holdings.
- Produced and licensed content costs
- A consistent upward trajectory was observed, starting at 8.18% in late 2018 and increasing steadily to a peak of approximately 17.94% during 2022. A slight decrease followed, with levels near 15.9% by mid-2025. This pattern indicates ongoing and significant investment in content assets over the period.
- Investments
- Investments fluctuated mildly around 1.5%-2.3% from 2019 through early 2024, followed by a notable increase to about 4.5% by mid-2025, suggesting a recent strategic emphasis on investment activities.
- Attractions, buildings and equipment
- This category declined sharply from 55.42% at the end of 2018 to around 27% by early 2019, likely due to a change in reporting or asset reclassification. Thereafter, it gradually increased again, reaching about 41.48% by mid-2025, reflecting sustained growth in physical asset holdings.
- Projects in progress
- Projects in progress showed a generally stable trend with minor fluctuations between 1.9% and 3.2%, ending near 3.2% in mid-2025, suggesting steady capital projects underway throughout the timeframe.
- Land
- Land as a proportion of total assets remained relatively constant, edging up slightly from around 0.55% to 0.61% across the examined periods, signifying minimal changes to land asset allocations.
- Parks, resorts and other property, at cost
- This category underwent a significant reduction in early 2019 (from 60.9% to under 30%), likely due to asset reformatting, followed by gradual but consistent growth to approximately 45.28% by mid-2025, indicating increased capital investment in physical properties.
- Accumulated depreciation
- Accumulated depreciation moved from -31.09% to -24.84% of total assets between the end of 2018 and mid-2025, reflecting increasing depreciation but at a slower rate than total asset growth, consistent with ongoing asset acquisition.
- Parks, resorts and other property, net
- Net value of parks, resorts, and other properties increased steadily from 29.81% in late 2018 to 20.44% by mid-2025 after the sharp early drop. This upward trend suggests a recovering and expanding asset base net of depreciation.
- Intangible assets, net
- Net intangible assets declined consistently from 6.75% in late 2018 to under 5% by mid-2025. This steady decrease may indicate amortization, impairment, or reduced intangible asset acquisitions.
- Goodwill
- Goodwill represented a substantial and relatively stable proportion of total assets, fluctuating slightly around 37%-41% throughout the period, demonstrating a significant and maintained value in acquired intangible assets.
- Noncurrent assets held for sale
- Reported only early in the period (2019) at approximately 6%, with no subsequent recorded values, indicating that assets held for sale were either disposed of or reclassified after this timeframe.
- Other assets
- Other assets showed a steady increase from about 3.43% in late 2018 to a peak above 7% in early 2024, before decreasing back to around 4.94% by mid-2025. This pattern suggests episodic accumulation and subsequent normalization of miscellaneous noncurrent assets.
- Long-term assets
- Long-term assets consistently comprised the bulk of total assets, gradually increasing from approximately 82.45% at the end of 2018 to around 87.9% by mid-2025. This reflects a strategic emphasis on long-term asset investments over current assets.
- Total assets
- Total assets, by definition, remain constant at 100%, serving as the reference for the relative proportions of the component items described above.