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Adjusted Ratios
Difficulty: Advanced
Adjusted Ratios (Summary)
Walt Disney Co., adjusted ratios
Based on: 10-K (filing date: 2018-11-21), 10-K (filing date: 2017-11-22), 10-K (filing date: 2016-11-23), 10-K (filing date: 2015-11-25), 10-K (filing date: 2014-11-19), 10-K (filing date: 2013-11-20).
| Ratio | Description | The company |
|---|---|---|
| Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Walt Disney Co.'s adjusted total asset turnover deteriorated from 2016 to 2017 but then improved from 2017 to 2018 not reaching 2016 level. |
| Adjusted current ratio | A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. | Walt Disney Co.'s adjusted current ratio deteriorated from 2016 to 2017 but then improved from 2017 to 2018 not reaching 2016 level. |
| Adjusted debt-to-equity ratio | A solvency ratio calculated as adjusted total debt divided by adjusted total equity. | Walt Disney Co.'s adjusted debt-to-equity ratio deteriorated from 2016 to 2017 but then improved from 2017 to 2018 exceeding 2016 level. |
| Adjusted debt-to-capital ratio | A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. | Walt Disney Co.'s adjusted debt-to-capital ratio deteriorated from 2016 to 2017 but then improved from 2017 to 2018 exceeding 2016 level. |
| Adjusted financial leverage | A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
Walt Disney Co.'s adjusted financial leverage increased from 2016 to 2017 but then declined significantly from 2017 to 2018. |
| Adjusted net profit margin | An indicator of profitability, calculated as adjusted comprehensive income divided by total revenue. | Walt Disney Co.'s adjusted net profit margin improved from 2016 to 2017 and from 2017 to 2018. |
| Adjusted ROE | A profitability ratio calculated as adjusted comprehensive income divided by adjusted total equity. | Walt Disney Co.'s adjusted ROE improved from 2016 to 2017 and from 2017 to 2018. |
| Adjusted ROA | A profitability ratio calculated as adjusted comprehensive income divided by adjusted total assets. | Walt Disney Co.'s adjusted ROA improved from 2016 to 2017 and from 2017 to 2018. |
Walt Disney Co., Ratios: Reported vs. Adjusted
Adjusted Total Asset Turnover
Based on: 10-K (filing date: 2018-11-21), 10-K (filing date: 2017-11-22), 10-K (filing date: 2016-11-23), 10-K (filing date: 2015-11-25), 10-K (filing date: 2014-11-19), 10-K (filing date: 2013-11-20).
2018 Calculations
1 Total asset turnover = Revenues ÷ Total assets
= ÷ =
2 Adjusted total assets. See Details »
3 Adjusted total asset turnover = Revenues ÷ Adjusted total assets
= ÷ =
| Ratio | Description | The company |
|---|---|---|
| Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Walt Disney Co.'s adjusted total asset turnover deteriorated from 2016 to 2017 but then improved from 2017 to 2018 not reaching 2016 level. |
Adjusted Current Ratio
Based on: 10-K (filing date: 2018-11-21), 10-K (filing date: 2017-11-22), 10-K (filing date: 2016-11-23), 10-K (filing date: 2015-11-25), 10-K (filing date: 2014-11-19), 10-K (filing date: 2013-11-20).
2018 Calculations
1 Current ratio = Current assets ÷ Current liabilities
= ÷ =
2 Adjusted current assets. See Details »
3 Adjusted current ratio = Adjusted current assets ÷ Current liabilities
= ÷ =
| Ratio | Description | The company |
|---|---|---|
| Adjusted current ratio | A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. | Walt Disney Co.'s adjusted current ratio deteriorated from 2016 to 2017 but then improved from 2017 to 2018 not reaching 2016 level. |
Adjusted Debt to Equity
Based on: 10-K (filing date: 2018-11-21), 10-K (filing date: 2017-11-22), 10-K (filing date: 2016-11-23), 10-K (filing date: 2015-11-25), 10-K (filing date: 2014-11-19), 10-K (filing date: 2013-11-20).
2018 Calculations
1 Debt to equity = Total debt ÷ Total Disney Shareholder's equity
= ÷ =
2 Adjusted total debt. See Details »
3 Adjusted total Disney Shareholder's equity. See Details »
4 Adjusted debt to equity = Adjusted total debt ÷ Adjusted total Disney Shareholder's equity
= ÷ =
| Ratio | Description | The company |
|---|---|---|
| Adjusted debt-to-equity ratio | A solvency ratio calculated as adjusted total debt divided by adjusted total equity. | Walt Disney Co.'s adjusted debt-to-equity ratio deteriorated from 2016 to 2017 but then improved from 2017 to 2018 exceeding 2016 level. |
Adjusted Debt to Capital
Based on: 10-K (filing date: 2018-11-21), 10-K (filing date: 2017-11-22), 10-K (filing date: 2016-11-23), 10-K (filing date: 2015-11-25), 10-K (filing date: 2014-11-19), 10-K (filing date: 2013-11-20).
2018 Calculations
1 Debt to capital = Total debt ÷ Total capital
= ÷ =
2 Adjusted total debt. See Details »
3 Adjusted total capital. See Details »
4 Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= ÷ =
| Ratio | Description | The company |
|---|---|---|
| Adjusted debt-to-capital ratio | A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. | Walt Disney Co.'s adjusted debt-to-capital ratio deteriorated from 2016 to 2017 but then improved from 2017 to 2018 exceeding 2016 level. |
Adjusted Financial Leverage
Based on: 10-K (filing date: 2018-11-21), 10-K (filing date: 2017-11-22), 10-K (filing date: 2016-11-23), 10-K (filing date: 2015-11-25), 10-K (filing date: 2014-11-19), 10-K (filing date: 2013-11-20).
2018 Calculations
1 Financial leverage = Total assets ÷ Total Disney Shareholder's equity
= ÷ =
2 Adjusted total assets. See Details »
3 Adjusted total Disney Shareholder's equity. See Details »
4 Adjusted financial leverage = Adjusted total assets ÷ Adjusted total Disney Shareholder's equity
= ÷ =
| Ratio | Description | The company |
|---|---|---|
| Adjusted financial leverage | A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
Walt Disney Co.'s adjusted financial leverage increased from 2016 to 2017 but then declined significantly from 2017 to 2018. |
Adjusted Net Profit Margin
Based on: 10-K (filing date: 2018-11-21), 10-K (filing date: 2017-11-22), 10-K (filing date: 2016-11-23), 10-K (filing date: 2015-11-25), 10-K (filing date: 2014-11-19), 10-K (filing date: 2013-11-20).
2018 Calculations
1 Net profit margin = 100 × Net income attributable to The Walt Disney Company (Disney) ÷ Revenues
= 100 × ÷ =
2 Adjusted net income attributable to The Walt Disney Company (Disney). See Details »
3 Adjusted net profit margin = 100 × Adjusted net income attributable to The Walt Disney Company (Disney) ÷ Revenues
= 100 × ÷ =
| Ratio | Description | The company |
|---|---|---|
| Adjusted net profit margin | An indicator of profitability, calculated as adjusted comprehensive income divided by total revenue. | Walt Disney Co.'s adjusted net profit margin improved from 2016 to 2017 and from 2017 to 2018. |
Adjusted Return on Equity (ROE)
Based on: 10-K (filing date: 2018-11-21), 10-K (filing date: 2017-11-22), 10-K (filing date: 2016-11-23), 10-K (filing date: 2015-11-25), 10-K (filing date: 2014-11-19), 10-K (filing date: 2013-11-20).
2018 Calculations
1 ROE = 100 × Net income attributable to The Walt Disney Company (Disney) ÷ Total Disney Shareholder's equity
= 100 × ÷ =
2 Adjusted net income attributable to The Walt Disney Company (Disney). See Details »
3 Adjusted total Disney Shareholder's equity. See Details »
4 Adjusted ROE = 100 × Adjusted net income attributable to The Walt Disney Company (Disney) ÷ Adjusted total Disney Shareholder's equity
= 100 × ÷ =
| Ratio | Description | The company |
|---|---|---|
| Adjusted ROE | A profitability ratio calculated as adjusted comprehensive income divided by adjusted total equity. | Walt Disney Co.'s adjusted ROE improved from 2016 to 2017 and from 2017 to 2018. |
Adjusted Return on Assets (ROA)
Based on: 10-K (filing date: 2018-11-21), 10-K (filing date: 2017-11-22), 10-K (filing date: 2016-11-23), 10-K (filing date: 2015-11-25), 10-K (filing date: 2014-11-19), 10-K (filing date: 2013-11-20).
2018 Calculations
1 ROA = 100 × Net income attributable to The Walt Disney Company (Disney) ÷ Total assets
= 100 × ÷ =
2 Adjusted net income attributable to The Walt Disney Company (Disney). See Details »
3 Adjusted total assets. See Details »
4 Adjusted ROA = 100 × Adjusted net income attributable to The Walt Disney Company (Disney) ÷ Adjusted total assets
= 100 × ÷ =
| Ratio | Description | The company |
|---|---|---|
| Adjusted ROA | A profitability ratio calculated as adjusted comprehensive income divided by adjusted total assets. | Walt Disney Co.'s adjusted ROA improved from 2016 to 2017 and from 2017 to 2018. |
