Analysis of Geographic Areas
Walt Disney Co. operates in 3 regions: Americas; Europe; and Asia Pacific.
Area Profit Margin
Walt Disney Co., profit margin by geographic area
| Sep 30, 2023 | Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | |
|---|---|---|---|---|---|---|
| Americas | 15.14% | 16.27% | 11.66% | 11.19% | 19.10% | 25.42% |
| Europe | 8.98% | 6.75% | 11.96% | 17.36% | 30.39% | 27.36% |
| Asia Pacific | 15.05% | 6.37% | 9.92% | 16.76% | 27.80% | 33.79% |
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).
| Area profitability ratio | Geographic area | The company |
|---|---|---|
| Area profit margin | Americas | Americas area profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
| Europe | Europe area profit margin ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. | |
| Asia Pacific | Asia Pacific area profit margin ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Area Profit Margin: Americas
Walt Disney Co.; Americas; area profit margin calculation
| Sep 30, 2023 | Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Segment operating income | 10,779) | 11,099) | 6,314) | 5,819) | 10,268) | 11,915) |
| Revenues | 71,205) | 68,218) | 54,157) | 51,992) | 53,768) | 46,877) |
| Area Profitability Ratio | ||||||
| Area profit margin1 | 15.14% | 16.27% | 11.66% | 11.19% | 19.10% | 25.42% |
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 2023 Calculation
Area profit margin = 100 × Segment operating income ÷ Revenues
= 100 × 10,779 ÷ 71,205 = 15.14%
| Area profitability ratio | Geographic area | The company |
|---|---|---|
| Area profit margin | Americas | Americas area profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Area Profit Margin: Europe
Walt Disney Co.; Europe; area profit margin calculation
| Sep 30, 2023 | Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Segment operating income | 856) | 586) | 800) | 1,273) | 2,433) | 1,922) |
| Revenues | 9,533) | 8,680) | 6,690) | 7,333) | 8,006) | 7,026) |
| Area Profitability Ratio | ||||||
| Area profit margin1 | 8.98% | 6.75% | 11.96% | 17.36% | 30.39% | 27.36% |
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 2023 Calculation
Area profit margin = 100 × Segment operating income ÷ Revenues
= 100 × 856 ÷ 9,533 = 8.98%
| Area profitability ratio | Geographic area | The company |
|---|---|---|
| Area profit margin | Europe | Europe area profit margin ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Area Profit Margin: Asia Pacific
Walt Disney Co.; Asia Pacific; area profit margin calculation
| Sep 30, 2023 | Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Segment operating income | 1,228) | 436) | 652) | 1,016) | 2,167) | 1,869) |
| Revenues | 8,160) | 6,847) | 6,571) | 6,063) | 7,796) | 5,531) |
| Area Profitability Ratio | ||||||
| Area profit margin1 | 15.05% | 6.37% | 9.92% | 16.76% | 27.80% | 33.79% |
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 2023 Calculation
Area profit margin = 100 × Segment operating income ÷ Revenues
= 100 × 1,228 ÷ 8,160 = 15.05%
| Area profitability ratio | Geographic area | The company |
|---|---|---|
| Area profit margin | Asia Pacific | Asia Pacific area profit margin ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Area Return on Assets (Area ROA)
Walt Disney Co., ROA by geographic area
| Sep 30, 2023 | Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | |
|---|---|---|---|---|---|---|
| Americas | 7.26% | 7.36% | 4.36% | 4.11% | 7.40% | 18.23% |
| Europe | 8.65% | 6.71% | 9.74% | 16.59% | 22.54% | 30.63% |
| Asia Pacific | 11.99% | 3.97% | 5.43% | 8.30% | 17.06% | 24.04% |
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).
| Area profitability ratio | Geographic area | The company |
|---|---|---|
| Area ROA | Americas | Americas area ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
| Europe | Europe area ROA deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level. | |
| Asia Pacific | Asia Pacific area ROA deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Area ROA: Americas
Walt Disney Co.; Americas; area ROA calculation
| Sep 30, 2023 | Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Segment operating income | 10,779) | 11,099) | 6,314) | 5,819) | 10,268) | 11,915) |
| Long-lived assets | 148,567) | 150,786) | 144,788) | 141,674) | 138,674) | 65,376) |
| Area Profitability Ratio | ||||||
| Area ROA1 | 7.26% | 7.36% | 4.36% | 4.11% | 7.40% | 18.23% |
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 2023 Calculation
Area ROA = 100 × Segment operating income ÷ Long-lived assets
= 100 × 10,779 ÷ 148,567 = 7.26%
| Area profitability ratio | Geographic area | The company |
|---|---|---|
| Area ROA | Americas | Americas area ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Area ROA: Europe
Walt Disney Co.; Europe; area ROA calculation
| Sep 30, 2023 | Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Segment operating income | 856) | 586) | 800) | 1,273) | 2,433) | 1,922) |
| Long-lived assets | 9,895) | 8,739) | 8,215) | 7,672) | 10,793) | 6,275) |
| Area Profitability Ratio | ||||||
| Area ROA1 | 8.65% | 6.71% | 9.74% | 16.59% | 22.54% | 30.63% |
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 2023 Calculation
Area ROA = 100 × Segment operating income ÷ Long-lived assets
= 100 × 856 ÷ 9,895 = 8.65%
| Area profitability ratio | Geographic area | The company |
|---|---|---|
| Area ROA | Europe | Europe area ROA deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level. |
Area ROA: Asia Pacific
Walt Disney Co.; Asia Pacific; area ROA calculation
| Sep 30, 2023 | Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Segment operating income | 1,228) | 436) | 652) | 1,016) | 2,167) | 1,869) |
| Long-lived assets | 10,244) | 10,976) | 12,012) | 12,235) | 12,703) | 7,775) |
| Area Profitability Ratio | ||||||
| Area ROA1 | 11.99% | 3.97% | 5.43% | 8.30% | 17.06% | 24.04% |
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 2023 Calculation
Area ROA = 100 × Segment operating income ÷ Long-lived assets
= 100 × 1,228 ÷ 10,244 = 11.99%
| Area profitability ratio | Geographic area | The company |
|---|---|---|
| Area ROA | Asia Pacific | Asia Pacific area ROA deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Area Asset Turnover
Walt Disney Co., asset turnover by geographic area
| Sep 30, 2023 | Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | |
|---|---|---|---|---|---|---|
| Americas | 0.48 | 0.45 | 0.37 | 0.37 | 0.39 | 0.72 |
| Europe | 0.96 | 0.99 | 0.81 | 0.96 | 0.74 | 1.12 |
| Asia Pacific | 0.80 | 0.62 | 0.55 | 0.50 | 0.61 | 0.71 |
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).
| Area activity ratio | Geographic area | The company |
|---|---|---|
| Area asset turnover | Americas | Americas area asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
| Europe | Europe area asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. | |
| Asia Pacific | Asia Pacific area asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Area Asset Turnover: Americas
Walt Disney Co.; Americas; area asset turnover calculation
| Sep 30, 2023 | Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenues | 71,205) | 68,218) | 54,157) | 51,992) | 53,768) | 46,877) |
| Long-lived assets | 148,567) | 150,786) | 144,788) | 141,674) | 138,674) | 65,376) |
| Area Activity Ratio | ||||||
| Area asset turnover1 | 0.48 | 0.45 | 0.37 | 0.37 | 0.39 | 0.72 |
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 2023 Calculation
Area asset turnover = Revenues ÷ Long-lived assets
= 71,205 ÷ 148,567 = 0.48
| Area activity ratio | Geographic area | The company |
|---|---|---|
| Area asset turnover | Americas | Americas area asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Area Asset Turnover: Europe
Walt Disney Co.; Europe; area asset turnover calculation
| Sep 30, 2023 | Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenues | 9,533) | 8,680) | 6,690) | 7,333) | 8,006) | 7,026) |
| Long-lived assets | 9,895) | 8,739) | 8,215) | 7,672) | 10,793) | 6,275) |
| Area Activity Ratio | ||||||
| Area asset turnover1 | 0.96 | 0.99 | 0.81 | 0.96 | 0.74 | 1.12 |
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 2023 Calculation
Area asset turnover = Revenues ÷ Long-lived assets
= 9,533 ÷ 9,895 = 0.96
| Area activity ratio | Geographic area | The company |
|---|---|---|
| Area asset turnover | Europe | Europe area asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Area Asset Turnover: Asia Pacific
Walt Disney Co.; Asia Pacific; area asset turnover calculation
| Sep 30, 2023 | Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenues | 8,160) | 6,847) | 6,571) | 6,063) | 7,796) | 5,531) |
| Long-lived assets | 10,244) | 10,976) | 12,012) | 12,235) | 12,703) | 7,775) |
| Area Activity Ratio | ||||||
| Area asset turnover1 | 0.80 | 0.62 | 0.55 | 0.50 | 0.61 | 0.71 |
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 2023 Calculation
Area asset turnover = Revenues ÷ Long-lived assets
= 8,160 ÷ 10,244 = 0.80
| Area activity ratio | Geographic area | The company |
|---|---|---|
| Area asset turnover | Asia Pacific | Asia Pacific area asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Revenues
Walt Disney Co., revenues by geographic area
US$ in millions
| Sep 30, 2023 | Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | |
|---|---|---|---|---|---|---|
| Americas | 71,205) | 68,218) | 54,157) | 51,992) | 53,768) | 46,877) |
| Europe | 9,533) | 8,680) | 6,690) | 7,333) | 8,006) | 7,026) |
| Asia Pacific | 8,160) | 6,847) | 6,571) | 6,063) | 7,796) | 5,531) |
| Total | 88,898) | 83,745) | 67,418) | 65,388) | 69,570) | 59,434) |
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).
Segment operating income
Walt Disney Co., segment operating income by geographic area
US$ in millions
| Sep 30, 2023 | Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | |
|---|---|---|---|---|---|---|
| Americas | 10,779) | 11,099) | 6,314) | 5,819) | 10,268) | 11,915) |
| Europe | 856) | 586) | 800) | 1,273) | 2,433) | 1,922) |
| Asia Pacific | 1,228) | 436) | 652) | 1,016) | 2,167) | 1,869) |
| Total | 12,863) | 12,121) | 7,766) | 8,108) | 14,868) | 15,706) |
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).
Long-lived assets
Walt Disney Co., long-lived assets by geographic area
US$ in millions
| Sep 30, 2023 | Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | |
|---|---|---|---|---|---|---|
| Americas | 148,567) | 150,786) | 144,788) | 141,674) | 138,674) | 65,376) |
| Europe | 9,895) | 8,739) | 8,215) | 7,672) | 10,793) | 6,275) |
| Asia Pacific | 10,244) | 10,976) | 12,012) | 12,235) | 12,703) | 7,775) |
| Total | 168,706) | 170,501) | 165,015) | 161,581) | 162,170) | 79,426) |
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).