Analysis of Long-term (Investment) Activity Ratios
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Long-term Activity Ratios (Summary)
Walt Disney Co., long-term (investment) activity ratios
Based on: 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), 10-K (reporting date: 2017-09-30).
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Walt Disney Co. net fixed asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022. |
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | Walt Disney Co. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2020 to 2021 and from 2021 to 2022. |
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Walt Disney Co. total asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022. |
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Walt Disney Co. equity turnover ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |
Net Fixed Asset Turnover
Walt Disney Co., net fixed asset turnover calculation, comparison to benchmarks
| Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | Sep 30, 2017 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Revenues | 82,722) | 67,418) | 65,388) | 69,570) | 59,434) | 55,137) | |
| Parks, resorts and other property, net, including finance lease right-of-use assets | 33,899) | 32,960) | 32,439) | 31,809) | 29,747) | 28,639) | |
| Long-term Activity Ratio | |||||||
| Net fixed asset turnover1 | 2.44 | 2.05 | 2.02 | 2.19 | 2.00 | 1.93 | |
| Benchmarks | |||||||
| Net Fixed Asset Turnover, Competitors2 | |||||||
| Alphabet Inc. | — | 2.64 | 2.15 | 2.20 | 2.29 | 2.62 | |
| Charter Communications Inc. | — | 1.51 | 1.40 | 1.32 | 1.24 | 1.23 | |
| Comcast Corp. | — | 2.15 | 1.99 | 2.25 | 2.13 | 2.20 | |
| Meta Platforms Inc. | — | 2.04 | 1.88 | 2.00 | 2.26 | 2.96 | |
| Netflix Inc. | — | 22.44 | 26.03 | 35.66 | 37.76 | 36.61 | |
| Net Fixed Asset Turnover, Sector | |||||||
| Media & Entertainment | — | 2.30 | 2.04 | 2.13 | 2.09 | 2.19 | |
| Net Fixed Asset Turnover, Industry | |||||||
| Communication Services | — | 1.87 | 1.70 | 1.77 | 1.71 | 1.71 | |
Based on: 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), 10-K (reporting date: 2017-09-30).
1 2022 Calculation
Net fixed asset turnover = Revenues ÷ Parks, resorts and other property, net, including finance lease right-of-use assets
= 82,722 ÷ 33,899 = 2.44
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Walt Disney Co. net fixed asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022. |
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Walt Disney Co., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks
| Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | Sep 30, 2017 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Revenues | 82,722) | 67,418) | 65,388) | 69,570) | 59,434) | 55,137) | |
| Parks, resorts and other property, net, including finance lease right-of-use assets | 33,899) | 32,960) | 32,439) | 31,809) | 29,747) | 28,639) | |
| Right-of-use assets, operating leases (included in Other assets) | 3,966) | 3,895) | 3,687) | —) | —) | —) | |
| Parks, resorts and other property, net, including finance lease right-of-use assets (including operating lease, right-of-use asset) | 37,865) | 36,855) | 36,126) | 31,809) | 29,747) | 28,639) | |
| Long-term Activity Ratio | |||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | 2.18 | 1.83 | 1.81 | 2.19 | 2.00 | 1.93 | |
| Benchmarks | |||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | |||||||
| Alphabet Inc. | — | 2.33 | 1.88 | 1.91 | 2.29 | 2.62 | |
| Charter Communications Inc. | — | 1.45 | 1.35 | 1.28 | 1.24 | 1.23 | |
| Comcast Corp. | — | 1.92 | 1.86 | 2.08 | 2.13 | 2.20 | |
| Meta Platforms Inc. | — | 1.69 | 1.56 | 1.58 | 2.26 | 2.96 | |
| Netflix Inc. | — | 7.88 | 8.34 | 9.61 | 37.76 | 36.61 | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector | |||||||
| Media & Entertainment | — | 2.02 | 1.81 | 1.90 | 2.09 | 2.19 | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry | |||||||
| Communication Services | — | 1.54 | 1.41 | 1.50 | 1.71 | 1.71 | |
Based on: 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), 10-K (reporting date: 2017-09-30).
1 2022 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenues ÷ Parks, resorts and other property, net, including finance lease right-of-use assets (including operating lease, right-of-use asset)
= 82,722 ÷ 37,865 = 2.18
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | Walt Disney Co. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2020 to 2021 and from 2021 to 2022. |
Total Asset Turnover
Walt Disney Co., total asset turnover calculation, comparison to benchmarks
| Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | Sep 30, 2017 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Revenues | 82,722) | 67,418) | 65,388) | 69,570) | 59,434) | 55,137) | |
| Total assets | 203,631) | 203,609) | 201,549) | 193,984) | 98,598) | 95,789) | |
| Long-term Activity Ratio | |||||||
| Total asset turnover1 | 0.41 | 0.33 | 0.32 | 0.36 | 0.60 | 0.58 | |
| Benchmarks | |||||||
| Total Asset Turnover, Competitors2 | |||||||
| Alphabet Inc. | — | 0.72 | 0.57 | 0.59 | 0.59 | 0.56 | |
| Charter Communications Inc. | — | 0.36 | 0.33 | 0.31 | 0.30 | 0.28 | |
| Comcast Corp. | — | 0.42 | 0.38 | 0.41 | 0.38 | 0.45 | |
| Meta Platforms Inc. | — | 0.71 | 0.54 | 0.53 | 0.57 | 0.48 | |
| Netflix Inc. | — | 0.67 | 0.64 | 0.59 | 0.61 | 0.61 | |
| Total Asset Turnover, Sector | |||||||
| Media & Entertainment | — | 0.54 | 0.45 | 0.45 | 0.48 | 0.47 | |
| Total Asset Turnover, Industry | |||||||
| Communication Services | — | 0.44 | 0.40 | 0.42 | 0.44 | 0.45 | |
Based on: 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), 10-K (reporting date: 2017-09-30).
1 2022 Calculation
Total asset turnover = Revenues ÷ Total assets
= 82,722 ÷ 203,631 = 0.41
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Walt Disney Co. total asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022. |
Equity Turnover
Walt Disney Co., equity turnover calculation, comparison to benchmarks
| Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | Sep 30, 2017 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Revenues | 82,722) | 67,418) | 65,388) | 69,570) | 59,434) | 55,137) | |
| Total Disney Shareholder’s equity | 95,008) | 88,553) | 83,583) | 88,877) | 48,773) | 41,315) | |
| Long-term Activity Ratio | |||||||
| Equity turnover1 | 0.87 | 0.76 | 0.78 | 0.78 | 1.22 | 1.33 | |
| Benchmarks | |||||||
| Equity Turnover, Competitors2 | |||||||
| Alphabet Inc. | — | 1.02 | 0.82 | 0.80 | 0.77 | 0.73 | |
| Charter Communications Inc. | — | 3.68 | 2.02 | 1.46 | 1.20 | 1.06 | |
| Comcast Corp. | — | 1.21 | 1.15 | 1.32 | 1.32 | 1.23 | |
| Meta Platforms Inc. | — | 0.94 | 0.67 | 0.70 | 0.66 | 0.55 | |
| Netflix Inc. | — | 1.87 | 2.26 | 2.66 | 3.01 | 3.26 | |
| Equity Turnover, Sector | |||||||
| Media & Entertainment | — | 1.08 | 0.91 | 0.93 | 0.96 | 0.91 | |
| Equity Turnover, Industry | |||||||
| Communication Services | — | 1.13 | 1.03 | 1.06 | 1.10 | 1.15 | |
Based on: 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), 10-K (reporting date: 2017-09-30).
1 2022 Calculation
Equity turnover = Revenues ÷ Total Disney Shareholder’s equity
= 82,722 ÷ 95,008 = 0.87
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Walt Disney Co. equity turnover ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |