Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
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Liquidity Ratios (Summary)
Walt Disney Co., liquidity ratios (quarterly data)
Based on: 10-K (reporting date: 2025-09-27), 10-Q (reporting date: 2025-06-28), 10-Q (reporting date: 2025-03-29), 10-Q (reporting date: 2024-12-28), 10-K (reporting date: 2024-09-28), 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-Q (reporting date: 2023-12-30), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-Q (reporting date: 2022-01-01), 10-K (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-Q (reporting date: 2021-01-02).
- Current Ratio Trends
- The current ratio demonstrates a general downward trend over the analyzed periods. Starting at 1.31, it gradually declines to hover around 1.0 through the end of 2022, indicating a reduction in short-term liquidity but still maintaining a position close to the benchmark of 1.0. From early 2023 onwards, the ratio further decreases, reaching values as low as 0.67 to 0.68 during early 2025. This decline below 1.0 suggests growing challenges in covering short-term liabilities with current assets, reflecting a tightening liquidity position over time.
- Quick Ratio Analysis
- The quick ratio follows a consistent downward trajectory similar to the current ratio. Starting at 1.17, the ratio dipped steadily, crossing below 1.0 in 2021 and further reaching approximately 0.83 by the end of 2022. This indicates a contracting proportion of liquid assets (excluding inventories) relative to current liabilities. From 2023 forward, the quick ratio declines more sharply, decreasing to levels between 0.53 and 0.57 in 2024 and early 2025, revealing a reduced ability to instantly cover short-term obligations without relying on inventory liquidation.
- Cash Ratio Development
- The cash ratio exhibits the most pronounced decline among the liquidity measures, beginning at 0.64 in early 2021 and progressively falling below 0.5 through late 2021 and 2022, reaching as low as 0.31 by the end of 2022. While there is a modest rebound during early 2023 to around 0.46, the downward trend resumes sharply thereafter. By mid-2024 to early 2025, the cash ratio plateaus at approximately 0.16 to 0.17. This significant reduction indicates a diminishing cash and cash equivalents buffer against current liabilities, potentially increasing liquidity risk.
- Liquidity Overview
- Overall, all three liquidity ratios consistently trend downward over the analyzed period, signaling progressively tighter liquidity conditions. Although the current and quick ratios remain close to or slightly below 1.0 in earlier years, the sustained declines into 2024 and 2025 illustrate an increasingly constrained capacity to meet short-term debts with readily available assets. The pronounced fall in the cash ratio is particularly notable, highlighting reduced immediate cash reserves. This pattern may warrant closer attention to cash flow management and working capital optimization strategies.
Current Ratio
Walt Disney Co., current ratio calculation (quarterly data)
| Sep 27, 2025 | Jun 28, 2025 | Mar 29, 2025 | Dec 28, 2024 | Sep 28, 2024 | Jun 29, 2024 | Mar 30, 2024 | Dec 30, 2023 | Sep 30, 2023 | Jul 1, 2023 | Apr 1, 2023 | Dec 31, 2022 | Oct 1, 2022 | Jul 2, 2022 | Apr 2, 2022 | Jan 1, 2022 | Oct 2, 2021 | Jul 3, 2021 | Apr 3, 2021 | Jan 2, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Current assets | ||||||||||||||||||||||||||
| Current liabilities | ||||||||||||||||||||||||||
| Liquidity Ratio | ||||||||||||||||||||||||||
| Current ratio1 | ||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||
| Current Ratio, Competitors2 | ||||||||||||||||||||||||||
| Alphabet Inc. | ||||||||||||||||||||||||||
| Comcast Corp. | ||||||||||||||||||||||||||
| Meta Platforms Inc. | ||||||||||||||||||||||||||
| Netflix Inc. | ||||||||||||||||||||||||||
| Trade Desk Inc. | ||||||||||||||||||||||||||
Based on: 10-K (reporting date: 2025-09-27), 10-Q (reporting date: 2025-06-28), 10-Q (reporting date: 2025-03-29), 10-Q (reporting date: 2024-12-28), 10-K (reporting date: 2024-09-28), 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-Q (reporting date: 2023-12-30), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-Q (reporting date: 2022-01-01), 10-K (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-Q (reporting date: 2021-01-02).
1 Q4 2025 Calculation
Current ratio = Current assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
- Current Assets
- The current assets exhibit a general downward trend over the analyzed periods. Starting at a high point of 34,874 million US dollars in early 2021, the figure declines gradually to 26,912 million by the end of 2022. Despite a modest recovery reaching 32,763 million in the third quarter of 2023, current assets again decrease continuously, falling to 23,820 million by the third quarter of 2025. This overall decline highlights potential reductions in short-term resources available to the company.
- Current Liabilities
- Current liabilities fluctuate somewhat but display an overall upward trajectory during the same time frame. Beginning at 26,546 million US dollars in the first quarter of 2021, liabilities reach a peak of 35,612 million at the end of the first quarter of 2024. Following this peak, there is a slight decrease, but the amounts remain elevated, ending at 34,162 million in the third quarter of 2025. The increase in current liabilities raises considerations regarding the company's short-term obligations and liquidity pressures.
- Current Ratio
- The current ratio, representing the relationship between current assets and liabilities, shows a declining pattern indicating progressively tighter liquidity conditions. The ratio lowers from 1.31 in early 2021 to levels below 1.0 starting in late 2022, with a minimum around 0.67 in the middle of 2025. Ratios below 1.0 imply that current liabilities exceed current assets, signaling potential short-term solvency challenges. Although small fluctuations occur, the prevailing trend suggests increasing strain on the company's ability to cover short-term liabilities with its available current assets.
- Summary
- The combined analysis reveals that while current assets have decreased substantially over the period, current liabilities have increased or remained relatively high. Consequently, the current ratio has deteriorated, often falling below the benchmark of 1. This trend implies an erosion of short-term financial stability and suggests the company may face heightened liquidity risk. Continuous monitoring and assessment of working capital management would be prudent to ensure sufficient operational liquidity moving forward.
Quick Ratio
Walt Disney Co., quick ratio calculation (quarterly data)
| Sep 27, 2025 | Jun 28, 2025 | Mar 29, 2025 | Dec 28, 2024 | Sep 28, 2024 | Jun 29, 2024 | Mar 30, 2024 | Dec 30, 2023 | Sep 30, 2023 | Jul 1, 2023 | Apr 1, 2023 | Dec 31, 2022 | Oct 1, 2022 | Jul 2, 2022 | Apr 2, 2022 | Jan 1, 2022 | Oct 2, 2021 | Jul 3, 2021 | Apr 3, 2021 | Jan 2, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Cash and cash equivalents | ||||||||||||||||||||||||||
| Receivables, net | ||||||||||||||||||||||||||
| Total quick assets | ||||||||||||||||||||||||||
| Current liabilities | ||||||||||||||||||||||||||
| Liquidity Ratio | ||||||||||||||||||||||||||
| Quick ratio1 | ||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||
| Quick Ratio, Competitors2 | ||||||||||||||||||||||||||
| Alphabet Inc. | ||||||||||||||||||||||||||
| Comcast Corp. | ||||||||||||||||||||||||||
| Meta Platforms Inc. | ||||||||||||||||||||||||||
| Netflix Inc. | ||||||||||||||||||||||||||
| Trade Desk Inc. | ||||||||||||||||||||||||||
Based on: 10-K (reporting date: 2025-09-27), 10-Q (reporting date: 2025-06-28), 10-Q (reporting date: 2025-03-29), 10-Q (reporting date: 2024-12-28), 10-K (reporting date: 2024-09-28), 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-Q (reporting date: 2023-12-30), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-Q (reporting date: 2022-01-01), 10-K (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-Q (reporting date: 2021-01-02).
1 Q4 2025 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
- Total Quick Assets
-
There is a general downward trend in total quick assets over the observed periods. Starting at approximately 31,119 million USD in early 2021, the quick assets steadily declined to about 21,307 million USD by the end of 2023. Following this period, the figure continued to decrease, reaching a low near 18,661 million USD in early 2024. Although there were minor fluctuations and occasional slight increases, such as in mid-2023, the overall movement indicates a contraction in the company's most liquid assets until the latest periods, where stabilization around 18,900 million USD is noted.
- Current Liabilities
-
Current liabilities exhibit a more volatile pattern with a general upward tendency. The liabilities started at 26,546 million USD in early 2021, rising substantially to surpass 31,000 million USD at the beginning of 2022. There was a moderate decrease in mid-2022, followed by an increase again reaching peaks above 35,000 million USD in 2024. Despite some fluctuations, the overall increase in current liabilities indicates that the company’s short-term obligations have grown over the timeframe.
- Quick Ratio
-
The quick ratio demonstrates a clear downward trend, reflecting a weakening short-term liquidity position. Beginning above 1.0 in early 2021, the ratio gradually declined below 1.0 through 2021 and 2022, reaching a level near 0.83. The ratio further deteriorated in 2023 and 2024, hitting a low of approximately 0.53, and remained below 0.6 through mid-2025. The decline in quick ratio indicates that quick assets are increasingly insufficient to cover current liabilities, potentially signaling increased liquidity risk over the periods analyzed.
Cash Ratio
Walt Disney Co., cash ratio calculation (quarterly data)
| Sep 27, 2025 | Jun 28, 2025 | Mar 29, 2025 | Dec 28, 2024 | Sep 28, 2024 | Jun 29, 2024 | Mar 30, 2024 | Dec 30, 2023 | Sep 30, 2023 | Jul 1, 2023 | Apr 1, 2023 | Dec 31, 2022 | Oct 1, 2022 | Jul 2, 2022 | Apr 2, 2022 | Jan 1, 2022 | Oct 2, 2021 | Jul 3, 2021 | Apr 3, 2021 | Jan 2, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Cash and cash equivalents | ||||||||||||||||||||||||||
| Total cash assets | ||||||||||||||||||||||||||
| Current liabilities | ||||||||||||||||||||||||||
| Liquidity Ratio | ||||||||||||||||||||||||||
| Cash ratio1 | ||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||
| Cash Ratio, Competitors2 | ||||||||||||||||||||||||||
| Alphabet Inc. | ||||||||||||||||||||||||||
| Comcast Corp. | ||||||||||||||||||||||||||
| Meta Platforms Inc. | ||||||||||||||||||||||||||
| Netflix Inc. | ||||||||||||||||||||||||||
| Trade Desk Inc. | ||||||||||||||||||||||||||
Based on: 10-K (reporting date: 2025-09-27), 10-Q (reporting date: 2025-06-28), 10-Q (reporting date: 2025-03-29), 10-Q (reporting date: 2024-12-28), 10-K (reporting date: 2024-09-28), 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-Q (reporting date: 2023-12-30), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-Q (reporting date: 2022-01-01), 10-K (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-Q (reporting date: 2021-01-02).
1 Q4 2025 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
- Total cash assets
- Over the observed periods, total cash assets demonstrate a generally declining trend. Starting at approximately $17.1 billion, cash assets decrease steadily through most quarters, reaching a low point near $5.9 billion by mid-2024. There is a brief recovery phase near early to late 2023, where cash increases notably, peaking again above $14 billion before continuing the downward trajectory into 2025 with amounts fluctuating around the $5.3 to $5.7 billion range.
- Current liabilities
- Current liabilities fluctuate over the periods but overall exhibit an upward tendency from about $26.5 billion initially to a peak exceeding $35 billion in mid-2024. Thereafter, liabilities marginally decline yet remain elevated above the $32 billion mark through 2025. The data reflects an increase in short-term obligations especially notable around late 2023 and mid-2024.
- Cash ratio
- The cash ratio, which compares cash assets to current liabilities, consistently declines throughout the timeframe. From an initial ratio of roughly 0.64, the ratio moves downward to 0.31 by the end of 2022, indicating relatively less liquidity available to cover current liabilities. Despite a slight recovery during early to late 2023, the ratio sharply drops again through 2024 and remains low near 0.16-0.17 in 2025. This downward trend suggests a decrease in short-term liquidity and a potentially tighter liquidity position over time.