Stock Analysis on Net

Walt Disney Co. (NYSE:DIS)

Market Value Added (MVA)

Microsoft Excel

Market value added (MVA) is the difference between a firm fair value and its invested capital. MVA is a measure of the value a company has created in excess of the resources already committed to the enterprise.


MVA

Walt Disney Co., MVA calculation

US$ in millions

Microsoft Excel
Sep 30, 2023 Oct 1, 2022 Oct 2, 2021 Oct 3, 2020 Sep 28, 2019 Sep 29, 2018
Fair value of borrowings and finance lease liabilities1 41,699 44,275 60,611 65,126 50,109 21,151
Operating lease liability 3,998 3,634 3,620 3,387 3,704 2,360
Market value of common equity 172,873 172,676 275,084 269,925 264,826 168,264
Preferred stock
Redeemable noncontrolling interests 9,055 9,499 9,213 9,249 8,963 1,123
Noncontrolling interests 4,680 3,871 4,458 4,680 5,012 4,059
Less: Investments recorded at fair value 174 308 950 1,057
Market (fair) value of Disney 232,131 233,647 352,036 351,310 332,614 196,957
Less: Invested capital2 173,764 173,977 172,934 174,594 169,178 79,665
MVA 58,367 59,670 179,102 176,716 163,436 117,292

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 Fair value of debt. See details »

2 Invested capital. See details »

Item Description The company
MVA Walt Disney Co. market (fair) value less invested capital. Walt Disney Co. MVA decreased from 2021 to 2022 and from 2022 to 2023.

MVA Spread Ratio

Walt Disney Co., MVA spread ratio 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)
Market value added (MVA)1 58,367 59,670 179,102 176,716 163,436 117,292
Invested capital2 173,764 173,977 172,934 174,594 169,178 79,665
Performance Ratio
MVA spread ratio3 33.59% 34.30% 103.57% 101.22% 96.61% 147.23%
Benchmarks
MVA Spread Ratio, Competitors4
Alphabet Inc. 797.66% 634.23% 1,159.04% 970.03% 804.65%
Charter Communications Inc. 4.11% 12.56% 58.27% 65.04% 47.41%
Comcast Corp. 34.32% 23.22% 50.36% 64.16% 48.88%
Meta Platforms Inc. 767.10% 380.86% 579.06% 791.20% 773.13%
Netflix Inc. 596.82% 371.76% 453.21% 772.09% 596.41%

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 MVA. See details »

2 Invested capital. See details »

3 2023 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × 58,367 ÷ 173,764 = 33.59%

4 Click competitor name to see calculations.

Performance ratio Description The company
MVA spread ratio The ratio of MVA to invested capital. It measures the efficiency with which investors’ capital investment has translated into a franchise value and into an aggregate net present value premium. Walt Disney Co. MVA spread ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

MVA Margin

Walt Disney Co., MVA 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)
Market value added (MVA)1 58,367 59,670 179,102 176,716 163,436 117,292
 
Revenues 88,898 82,722 67,418 65,388 69,570 59,434
Add: Increase (decrease) in deferred revenues 87 1,810 447 (468) 1,134
Adjusted revenues 88,985 84,532 67,865 64,920 70,704 59,434
Performance Ratio
MVA margin2 65.59% 70.59% 263.91% 272.21% 231.16% 197.35%
Benchmarks
MVA Margin, Competitors3
Alphabet Inc. 491.55% 390.80% 664.82% 649.56% 499.56%
Charter Communications Inc. 10.06% 30.51% 147.55% 180.14% 142.49%
Comcast Corp. 59.40% 41.05% 99.16% 138.43% 97.01%
Meta Platforms Inc. 802.73% 332.57% 454.84% 744.17% 715.58%
Netflix Inc. 667.68% 443.50% 529.22% 912.25% 708.65%

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 MVA. See details »

2 2023 Calculation
MVA margin = 100 × MVA ÷ Adjusted revenues
= 100 × 58,367 ÷ 88,985 = 65.59%

3 Click competitor name to see calculations.

Performance ratio Description The company
MVA margin The ratio of MVA to sales. It measures how efficiently and prodigiously sales translate into franchise value. Walt Disney Co. MVA margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023.