Adjusted Financial Ratios
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- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Current Ratio since 2005
- Debt to Equity since 2005
- Price to Earnings (P/E) since 2005
- Price to Sales (P/S) since 2005
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Adjusted Financial Ratios (Summary)
Walt Disney Co., adjusted financial ratios
Based on: 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).
| Financial ratio | Description | The company |
|---|---|---|
| Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Walt Disney Co. adjusted total asset turnover ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021. |
| Adjusted current ratio | A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. | Walt Disney Co. adjusted current ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021 not reaching 2019 level. |
| Adjusted debt-to-equity ratio | A solvency ratio calculated as adjusted total debt divided by adjusted total equity. | Walt Disney Co. adjusted debt-to-equity ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021. |
| 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. adjusted debt-to-capital ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021. |
| 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. adjusted financial leverage ratio increased from 2019 to 2020 but then slightly decreased from 2020 to 2021. |
| Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by total revenue. | Walt Disney Co. adjusted net profit margin ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
| Adjusted ROE | A profitability ratio calculated as adjusted net income divided by adjusted total equity. | Walt Disney Co. adjusted ROE deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021. |
| Adjusted ROA | A profitability ratio calculated as adjusted net income divided by adjusted total assets. | Walt Disney Co. adjusted ROA deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021. |
Walt Disney Co., Financial Ratios: Reported vs. Adjusted
Adjusted Total Asset Turnover
Based on: 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).
1 2021 Calculation
Total asset turnover = Revenues ÷ Total assets
= ÷ =
2 Adjusted revenues. See details »
3 Adjusted total assets. See details »
4 2021 Calculation
Adjusted total asset turnover = Adjusted revenues ÷ Adjusted total assets
= ÷ =
| Activity ratio | Description | The company |
|---|---|---|
| Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Walt Disney Co. adjusted total asset turnover ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021. |
Adjusted Current Ratio
Based on: 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).
1 2021 Calculation
Current ratio = Current assets ÷ Current liabilities
= ÷ =
2 Adjusted current assets. See details »
3 Adjusted current liabilities. See details »
4 2021 Calculation
Adjusted current ratio = Adjusted current assets ÷ Adjusted current liabilities
= ÷ =
| Liquidity ratio | Description | The company |
|---|---|---|
| Adjusted current ratio | A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. | Walt Disney Co. adjusted current ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021 not reaching 2019 level. |
Adjusted Debt to Equity
Based on: 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).
1 2021 Calculation
Debt to equity = Total debt ÷ Total Disney Shareholder’s equity
= ÷ =
2 Adjusted total debt. See details »
3 Adjusted total equity. See details »
4 2021 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted total equity
= ÷ =
| Solvency 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. adjusted debt-to-equity ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021. |
Adjusted Debt to Capital
Based on: 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).
1 2021 Calculation
Debt to capital = Total debt ÷ Total capital
= ÷ =
2 Adjusted total debt. See details »
3 Adjusted total capital. See details »
4 2021 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= ÷ =
| Solvency 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. adjusted debt-to-capital ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021. |
Adjusted Financial Leverage
Based on: 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).
1 2021 Calculation
Financial leverage = Total assets ÷ Total Disney Shareholder’s equity
= ÷ =
2 Adjusted total assets. See details »
3 Adjusted total equity. See details »
4 2021 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted total equity
= ÷ =
| Solvency 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. adjusted financial leverage ratio increased from 2019 to 2020 but then slightly decreased from 2020 to 2021. |
Adjusted Net Profit Margin
Based on: 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).
1 2021 Calculation
Net profit margin = 100 × Net income (loss) attributable to The Walt Disney Company (Disney) ÷ Revenues
= 100 × ÷ =
2 Adjusted net income (loss). See details »
3 Adjusted revenues. See details »
4 2021 Calculation
Adjusted net profit margin = 100 × Adjusted net income (loss) ÷ Adjusted revenues
= 100 × ÷ =
| Profitability ratio | Description | The company |
|---|---|---|
| Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by total revenue. | Walt Disney Co. adjusted net profit margin ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
Adjusted Return on Equity (ROE)
Based on: 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).
1 2021 Calculation
ROE = 100 × Net income (loss) attributable to The Walt Disney Company (Disney) ÷ Total Disney Shareholder’s equity
= 100 × ÷ =
2 Adjusted net income (loss). See details »
3 Adjusted total equity. See details »
4 2021 Calculation
Adjusted ROE = 100 × Adjusted net income (loss) ÷ Adjusted total equity
= 100 × ÷ =
| Profitability ratio | Description | The company |
|---|---|---|
| Adjusted ROE | A profitability ratio calculated as adjusted net income divided by adjusted total equity. | Walt Disney Co. adjusted ROE deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021. |
Adjusted Return on Assets (ROA)
Based on: 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).
1 2021 Calculation
ROA = 100 × Net income (loss) attributable to The Walt Disney Company (Disney) ÷ Total assets
= 100 × ÷ =
2 Adjusted net income (loss). See details »
3 Adjusted total assets. See details »
4 2021 Calculation
Adjusted ROA = 100 × Adjusted net income (loss) ÷ Adjusted total assets
= 100 × ÷ =
| Profitability ratio | Description | The company |
|---|---|---|
| Adjusted ROA | A profitability ratio calculated as adjusted net income divided by adjusted total assets. | Walt Disney Co. adjusted ROA deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021. |