Analysis of Long-term (Investment) Activity Ratios
Quarterly Data
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
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Long-term Activity Ratios (Summary)
Walt Disney Co., long-term (investment) activity 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).
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio exhibits an overall upward trend from early 2021 through 2023, increasing from approximately 1.88 to a peak near 2.54. This indicates improving efficiency in generating sales from fixed assets during this period. Starting in late 2023 and continuing into 2025, a gradual decline is observed, with the ratio decreasing to around 2.29 by the third quarter of 2025. This suggests a potential slowdown in asset utilization efficiency or increased fixed asset investment relative to sales in the most recent quarters.
- Total Asset Turnover
- The total asset turnover ratio shows consistent growth throughout the entire period under review. Beginning near 0.30 in early 2021, it progressively increases to about 0.48 by mid-2025. This steady rise over multiple years reflects enhanced overall asset efficiency in generating revenues, implying that the company has improved its use of all assets in the business to drive sales without significant fluctuations or reversals.
- Equity Turnover
- The equity turnover ratio demonstrates a moderate positive trend from approximately 0.72 at the start of 2021, rising to around 0.90 by the end of 2023. Post-2023, the ratio fluctuates slightly around this level, showing minor decreases and increases but remaining fairly stable between 0.86 and 0.91 through mid-2025. This pattern indicates a relatively steady ability to generate revenues from shareholders' equity, with some short-term variability but no significant long-term decline or increase.
Net Fixed Asset Turnover
Walt Disney Co., net fixed asset turnover 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) | ||||||||||||||||||||||||||
| Revenues | ||||||||||||||||||||||||||
| Parks, resorts and other property, net | ||||||||||||||||||||||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||
| Net fixed asset turnover1 | ||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||
| Net Fixed Asset Turnover, 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
Net fixed asset turnover
= (RevenuesQ4 2025
+ RevenuesQ3 2025
+ RevenuesQ2 2025
+ RevenuesQ1 2025)
÷ Parks, resorts and other property, net
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Revenues
- The revenue figures display a generally upward trend with some fluctuations over the observed periods. Starting at approximately $16.2 billion in early 2021, revenues increased significantly to around $23.5 billion by late 2022. However, after peaking at near $24.7 billion in late 2024, revenues showed slight declines and volatility, finishing around $22.5 billion by mid-2025. This pattern suggests cyclical or seasonal effects alongside overall growth, with intermittent declines reflecting potential operational or market challenges.
- Parks, resorts and other property, net
- The net value of parks, resorts, and other properties exhibited a steady increase throughout the entire timeframe. From about $32.3 billion at the beginning of 2021, the asset base grew consistently each quarter, reaching over $41.2 billion by the middle of 2025. This ongoing asset expansion indicates sustained investments or capital expenditures in physical and real estate properties, which may support long-term growth strategies in these segments.
- Net fixed asset turnover
- This ratio, calculated as revenues divided by net fixed assets, indicates the efficiency of asset utilization in generating revenue. The ratio improved from 1.88 in early 2021 to a peak of approximately 2.54 during 2023, reflecting enhanced asset productivity. Post-mid 2023, the ratio gradually declined to about 2.29 by mid-2025, suggesting a slight decrease in the efficiency with which the company is leveraging its fixed assets to produce revenue. This could be due to large asset additions not yet fully translated into proportional revenue gains or changing operational dynamics.
- Overall Analysis
- The data portray a company expanding its asset base notably while experiencing growth in revenues with some volatility. The increasing net fixed asset value, paired with initially rising but later tapering asset turnover ratios, may imply that recent investments are either in early stages of revenue contribution or that operational efficiencies face challenges. The observed revenue fluctuations might be influenced by industry seasonality, economic factors, or competitive pressures. Continuous monitoring of asset utilization and revenue generation will be important to evaluate the effectiveness of capital investments and market positioning moving forward.
Total Asset Turnover
Walt Disney Co., total asset turnover 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) | ||||||||||||||||||||||||||
| Revenues | ||||||||||||||||||||||||||
| Total assets | ||||||||||||||||||||||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||
| Total asset turnover1 | ||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||
| Total Asset Turnover, 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
Total asset turnover
= (RevenuesQ4 2025
+ RevenuesQ3 2025
+ RevenuesQ2 2025
+ RevenuesQ1 2025)
÷ Total assets
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Revenue Trends
- Revenues demonstrate a generally upward trajectory over the observed periods. Beginning at approximately 16.2 billion US dollars, revenue experiences notable fluctuations, with intermittent declines and recoveries. Early 2021 saw values fluctuate between around 15.6 billion and 18.5 billion US dollars, while 2022 exhibited more pronounced variability, peaking in the fourth quarter at about 23.5 billion US dollars. Subsequent quarters through mid-2025 maintain elevated levels, frequently exceeding 22 billion US dollars, with a peak near 24.7 billion US dollars in late 2024. The data reflects resilience and growth momentum despite short-term volatility.
- Total Assets
- Total assets remained relatively stable throughout the periods, hovering close to the 200 billion US dollar mark. Minor decreases and increases occur, with assets ranging from approximately 195 billion to just over 205 billion US dollars. Notable is a slight downward trend observable from early 2023 to mid-2025. Though fluctuations are modest, the overall asset base shows consistent scale without significant expansion or contraction.
- Total Asset Turnover Ratio
- The total asset turnover ratio indicates an improving efficiency in asset utilization over the periods analyzed. Starting at 0.30, the ratio steadily rises, reaching approximately 0.48 by mid-2025. This gradual increase suggests enhanced effectiveness in generating revenue from the company's asset base, reflecting positive operational management and potentially improved profitability margins over time.
- Summary
- The analysis indicates that revenue growth is strong with periodic volatility, total assets maintain a stable range with a slight decreasing tendency in recent periods, and asset turnover ratios improve continuously. Together, these factors highlight a trend of strengthening operational efficiency and revenue generation capability relative to the asset base. The combination of stable assets and rising asset turnover points toward more productive use of resources in driving revenue growth.
Equity Turnover
Walt Disney Co., equity turnover 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) | ||||||||||||||||||||||||||
| Revenues | ||||||||||||||||||||||||||
| Total Disney Shareholders’ equity | ||||||||||||||||||||||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||
| Equity turnover1 | ||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||
| Equity Turnover, 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
Equity turnover
= (RevenuesQ4 2025
+ RevenuesQ3 2025
+ RevenuesQ2 2025
+ RevenuesQ1 2025)
÷ Total Disney Shareholders’ equity
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Revenue Trends
- Revenues demonstrate a general upward trajectory with periodic fluctuations. From early 2021 to early 2022, revenues increased significantly, peaking at over 23 billion US dollars by the end of 2022. Following this peak, revenues exhibit slight volatility but maintain a range mostly above 22 billion US dollars through mid-2025. The decrease observed in the first half of 2025 compared to the recent peak suggests some softness but remains close to historically high levels.
- Total Shareholders’ Equity
- Total Disney Shareholders’ equity shows consistent growth over the entire period. Starting near 84 billion US dollars in early 2021, equity increases steadily to surpass 109 billion US dollars by mid-2025. The growth rate is moderate but stable, indicating ongoing accumulation of net assets without major declines or instability.
- Equity Turnover Ratio
- The equity turnover ratio illustrates how effectively the company is using equity to generate revenue. This ratio trends upward from around 0.72 in early 2021 to approximately 0.9 by late 2023, indicating improving efficiency. After this point, the turnover ratio stabilizes around 0.9, with a slight tapering to approximately 0.86 by mid-2025, suggesting a marginal reduction in asset utilization efficiency but still at a relatively high level compared to the start of the period.
- Overall Insights
- Across the examined time frame, the company exhibits expanding financial strength as seen in steadily growing shareholders’ equity. Revenues generally rise with some cyclical variations, evidencing solid market demand and operational performance. The increase and subsequent stabilization of equity turnover ratio imply enhanced operational efficiency and more effective use of shareholder resources, although recent slight declines warrant monitoring. The interplay between rising equity and revenues alongside an initially improving but then slightly declining turnover ratio suggests a mature stage in business expansion with potential challenges in maintaining peak efficiency.