Return on Equity (ROE)
since 2005
Calculation
Walt Disney Co., ROE, long-term trends, calculation
| ROE | = | 100 | × | Net income (loss) attributable to The Walt Disney Company (Disney)1 | ÷ | Total Disney Shareholder’s equity1 | |
|---|---|---|---|---|---|---|---|
| Sep 27, 2025 | 11.29% | = | 100 | × | 12,404) | ÷ | 109,869) |
| Sep 28, 2024 | 4.94% | = | 100 | × | 4,972) | ÷ | 100,696) |
| Sep 30, 2023 | 2.37% | = | 100 | × | 2,354) | ÷ | 99,277) |
| Oct 1, 2022 | 3.31% | = | 100 | × | 3,145) | ÷ | 95,008) |
| Oct 2, 2021 | 2.25% | = | 100 | × | 1,995) | ÷ | 88,553) |
| Oct 3, 2020 | -3.43% | = | 100 | × | (2,864) | ÷ | 83,583) |
| Sep 28, 2019 | 12.44% | = | 100 | × | 11,054) | ÷ | 88,877) |
| Sep 29, 2018 | 25.83% | = | 100 | × | 12,598) | ÷ | 48,773) |
| Sep 30, 2017 | 21.74% | = | 100 | × | 8,980) | ÷ | 41,315) |
| Oct 1, 2016 | 21.71% | = | 100 | × | 9,391) | ÷ | 43,265) |
| Oct 3, 2015 | 18.83% | = | 100 | × | 8,382) | ÷ | 44,525) |
| Sep 27, 2014 | 16.68% | = | 100 | × | 7,501) | ÷ | 44,958) |
| Sep 28, 2013 | 13.51% | = | 100 | × | 6,136) | ÷ | 45,429) |
| Sep 29, 2012 | 14.29% | = | 100 | × | 5,682) | ÷ | 39,759) |
| Oct 1, 2011 | 12.86% | = | 100 | × | 4,807) | ÷ | 37,385) |
| Oct 2, 2010 | 10.56% | = | 100 | × | 3,963) | ÷ | 37,519) |
| Oct 3, 2009 | 9.80% | = | 100 | × | 3,307) | ÷ | 33,734) |
| Sep 27, 2008 | 13.70% | = | 100 | × | 4,427) | ÷ | 32,323) |
| Sep 29, 2007 | 15.24% | = | 100 | × | 4,687) | ÷ | 30,753) |
| Sep 30, 2006 | 10.60% | = | 100 | × | 3,374) | ÷ | 31,820) |
| Oct 1, 2005 | 9.66% | = | 100 | × | 2,533) | ÷ | 26,210) |
Based on: 10-K (reporting date: 2025-09-27), 10-K (reporting date: 2024-09-28), 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), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-10-01), 10-K (reporting date: 2015-10-03), 10-K (reporting date: 2014-09-27), 10-K (reporting date: 2013-09-28), 10-K (reporting date: 2012-09-29), 10-K (reporting date: 2011-10-01), 10-K (reporting date: 2010-10-02), 10-K (reporting date: 2009-10-03), 10-K (reporting date: 2008-09-27), 10-K (reporting date: 2007-09-29), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-10-01).
1 US$ in millions
The financial data indicates several notable trends in profitability, equity, and return on equity (ROE) over the covered periods.
- Net Income (Loss)
- The net income attributable to the company demonstrates a general upward trajectory from 2005 through 2019, with figures increasing from approximately $2.5 billion to a peak of nearly $12.6 billion in 2018, followed by a slight decline to $11.1 billion in 2019. However, a significant downturn is observed in 2020, where net income fell to a loss of $2.9 billion, indicative of considerable challenges during that fiscal year. Recovery ensued in the subsequent years, with net income rebounding to $5.0 billion in 2024 and culminating at over $12.4 billion projected for 2025. This pattern suggests resilience and recovery after a steep decline.
- Total Shareholder’s Equity
- Shareholder’s equity generally increased throughout the period, starting at around $26.2 billion in 2005 and experiencing steady growth, with a few fluctuations, reaching approximately $48.8 billion by 2019. A slight decrease is evident in the following years, dipping to about $83.6 billion in 2020 and then gradually increasing again to near $110 billion by 2025. The overall trend displays gradual accumulation of equity with temporary declines, possibly associated with the economic challenges impacting net income.
- Return on Equity (ROE)
- ROE reflects a strong improving trend from 9.66% in 2005, rising steadily with some fluctuations to a high of 25.83% in 2018, indicating enhanced efficiency in generating profit from equity. There is a sharp decline in 2020, coinciding with the net loss, where ROE turns negative at -3.43%. Partial recovery is observed afterward, with modest positive ROE percentages ranging from 2.25% to 4.94% through 2024, improving to 11.29% in 2025. The data illustrate the company’s ability to rebound but also highlight a period of financial distress during the downturn.
In summary, the financial data reveal sustained growth in net income and shareholder equity over most of the period, punctuated by a significant adverse event around 2020 that led to a net loss and negative ROE. Subsequently, the company demonstrated a recovery in profitability and shareholder return, supported by incremental increases in equity. These patterns suggest responsiveness to adverse conditions with a capacity for financial resilience and improved efficiency over time.
Comparison to Competitors
Walt Disney Co., ROE, long-term trends, comparison to competitors
| Walt Disney Co. | Alphabet Inc. | Comcast Corp. | Meta Platforms Inc. | Netflix Inc. | Trade Desk Inc. | |
|---|---|---|---|---|---|---|
| Sep 27, 2025 | 11.29% | — | — | — | — | — |
| Sep 28, 2024 | 4.94% | 30.80% | 18.92% | 34.14% | 35.21% | 13.33% |
| Sep 30, 2023 | 2.37% | 26.04% | 18.61% | 25.53% | 26.27% | 8.27% |
| Oct 1, 2022 | 3.31% | 23.41% | 6.63% | 18.45% | 21.62% | 2.52% |
| Oct 2, 2021 | 2.25% | 30.22% | 14.73% | 31.53% | 32.28% | 9.02% |
| Oct 3, 2020 | -3.43% | 18.09% | 11.66% | 22.72% | 24.96% | 23.92% |
| Sep 28, 2019 | 12.44% | 17.05% | 15.78% | 18.29% | 24.62% | 17.68% |
| Sep 29, 2018 | 25.83% | 17.30% | 16.38% | 26.28% | 23.12% | 22.34% |
| Sep 30, 2017 | 21.74% | 8.30% | 33.11% | 21.43% | 15.60% | 20.68% |
| Oct 1, 2016 | 21.71% | 14.01% | 16.12% | 17.26% | 6.97% | 12.46% |
| Oct 3, 2015 | 18.83% | 13.59% | 15.62% | 8.34% | 5.52% | — |
| Sep 27, 2014 | 16.68% | 13.82% | 15.90% | 8.14% | 14.36% | — |
| Sep 28, 2013 | 13.51% | 14.80% | 13.45% | 9.70% | 8.43% | — |
| Sep 29, 2012 | 14.29% | 14.97% | 12.57% | 0.45% | 2.30% | — |
| Oct 1, 2011 | 12.86% | 16.75% | 8.80% | — | 35.18% | — |
| Oct 2, 2010 | 10.56% | 18.39% | 8.20% | — | 55.44% | — |
| Oct 3, 2009 | 9.80% | 18.11% | 8.52% | — | 58.18% | — |
| Sep 27, 2008 | 13.70% | 14.97% | 6.30% | — | 23.92% | — |
| Sep 29, 2007 | 15.24% | 18.53% | 6.26% | — | 15.54% | — |
| Sep 30, 2006 | 10.60% | 18.06% | 6.15% | — | 11.85% | — |
| Oct 1, 2005 | 9.66% | 15.56% | 2.31% | — | 18.58% | — |
Based on: 10-K (reporting date: 2025-09-27), 10-K (reporting date: 2024-09-28), 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), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-10-01), 10-K (reporting date: 2015-10-03), 10-K (reporting date: 2014-09-27), 10-K (reporting date: 2013-09-28), 10-K (reporting date: 2012-09-29), 10-K (reporting date: 2011-10-01), 10-K (reporting date: 2010-10-02), 10-K (reporting date: 2009-10-03), 10-K (reporting date: 2008-09-27), 10-K (reporting date: 2007-09-29), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-10-01).
Comparison to Sector (Media & Entertainment)
Walt Disney Co., ROE, long-term trends, comparison to sector (media & entertainment)
| Walt Disney Co. | Media & Entertainment | |
|---|---|---|
| Sep 27, 2025 | 11.29% | — |
| Sep 28, 2024 | 4.94% | 26.71% |
| Sep 30, 2023 | 2.37% | 21.24% |
| Oct 1, 2022 | 3.31% | 16.57% |
| Oct 2, 2021 | 2.25% | 23.65% |
| Oct 3, 2020 | -3.43% | 14.92% |
| Sep 28, 2019 | 12.44% | 16.36% |
| Sep 29, 2018 | 25.83% | 20.24% |
| Sep 30, 2017 | 21.74% | 17.88% |
| Oct 1, 2016 | 21.71% | 16.09% |
| Oct 3, 2015 | 18.83% | 13.93% |
| Sep 27, 2014 | 16.68% | 13.96% |
| Sep 28, 2013 | 13.51% | 13.73% |
| Sep 29, 2012 | 14.29% | 13.09% |
| Oct 1, 2011 | 12.86% | 13.20% |
| Oct 2, 2010 | 10.56% | 12.67% |
| Oct 3, 2009 | 9.80% | 12.06% |
| Sep 27, 2008 | 13.70% | 11.13% |
| Sep 29, 2007 | 15.24% | 12.13% |
| Sep 30, 2006 | 10.60% | 9.99% |
| Oct 1, 2005 | 9.66% | 6.53% |
Based on: 10-K (reporting date: 2025-09-27), 10-K (reporting date: 2024-09-28), 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), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-10-01), 10-K (reporting date: 2015-10-03), 10-K (reporting date: 2014-09-27), 10-K (reporting date: 2013-09-28), 10-K (reporting date: 2012-09-29), 10-K (reporting date: 2011-10-01), 10-K (reporting date: 2010-10-02), 10-K (reporting date: 2009-10-03), 10-K (reporting date: 2008-09-27), 10-K (reporting date: 2007-09-29), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-10-01).
Comparison to Industry (Communication Services)
Walt Disney Co., ROE, long-term trends, comparison to industry (communication services)
| Walt Disney Co. | Communication Services | |
|---|---|---|
| Sep 27, 2025 | 11.29% | — |
| Sep 28, 2024 | 4.94% | 23.56% |
| Sep 30, 2023 | 2.37% | 18.91% |
| Oct 1, 2022 | 3.31% | 13.30% |
| Oct 2, 2021 | 2.25% | 20.32% |
| Oct 3, 2020 | -3.43% | 11.52% |
| Sep 28, 2019 | 12.44% | 15.27% |
| Sep 29, 2018 | 25.83% | 17.89% |
| Sep 30, 2017 | 21.74% | 22.84% |
| Oct 1, 2016 | 21.71% | 16.35% |
| Oct 3, 2015 | 18.83% | 16.38% |
| Sep 27, 2014 | 16.68% | 14.00% |
| Sep 28, 2013 | 13.51% | 16.63% |
| Sep 29, 2012 | 14.29% | 10.32% |
| Oct 1, 2011 | 12.86% | 8.87% |
| Oct 2, 2010 | 10.56% | 13.88% |
| Oct 3, 2009 | 9.80% | 11.62% |
| Sep 27, 2008 | 13.70% | 12.77% |
| Sep 29, 2007 | 15.24% | 11.11% |
| Sep 30, 2006 | 10.60% | 8.87% |
| Oct 1, 2005 | 9.66% | 10.06% |
Based on: 10-K (reporting date: 2025-09-27), 10-K (reporting date: 2024-09-28), 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), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-10-01), 10-K (reporting date: 2015-10-03), 10-K (reporting date: 2014-09-27), 10-K (reporting date: 2013-09-28), 10-K (reporting date: 2012-09-29), 10-K (reporting date: 2011-10-01), 10-K (reporting date: 2010-10-02), 10-K (reporting date: 2009-10-03), 10-K (reporting date: 2008-09-27), 10-K (reporting date: 2007-09-29), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-10-01).