Analysis of Reportable Segments
Walt Disney Co. operates in 2 segments: Disney Media and Entertainment Distribution (DMED) and Disney Parks, Experiences and Products (DPEP).
Segment Profit Margin
Walt Disney Co., profit margin by reportable segment
| Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | Sep 30, 2017 | |
|---|---|---|---|---|---|---|
| Disney Media and Entertainment Distribution (DMED) | 7.66% | 14.34% | 16.94% | 18.96% | 28.07% | — |
| Disney Parks, Experiences and Products (DPEP) | 27.54% | 2.85% | -0.48% | 25.23% | 24.13% | — |
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).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Disney Media and Entertainment Distribution (DMED) | Disney Media and Entertainment Distribution (DMED) segment profit margin ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
| Disney Parks, Experiences and Products (DPEP) | Disney Parks, Experiences and Products (DPEP) segment profit margin ratio improved from 2020 to 2021 and from 2021 to 2022. |
Segment Profit Margin: Disney Media and Entertainment Distribution (DMED)
Walt Disney Co.; Disney Media and Entertainment Distribution (DMED); segment profit margin calculation
| Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | Sep 30, 2017 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Segment operating income | 4,216) | 7,295) | 8,189) | 8,110) | 9,594) | —) |
| Revenues | 55,040) | 50,866) | 48,350) | 42,784) | 34,177) | —) |
| Segment Profitability Ratio | ||||||
| Segment profit margin1 | 7.66% | 14.34% | 16.94% | 18.96% | 28.07% | — |
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
Segment profit margin = 100 × Segment operating income ÷ Revenues
= 100 × 4,216 ÷ 55,040 = 7.66%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Disney Media and Entertainment Distribution (DMED) | Disney Media and Entertainment Distribution (DMED) segment profit margin ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
Segment Profit Margin: Disney Parks, Experiences and Products (DPEP)
Walt Disney Co.; Disney Parks, Experiences and Products (DPEP); segment profit margin calculation
| Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | Sep 30, 2017 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Segment operating income | 7,905) | 471) | (81) | 6,758) | 6,095) | —) |
| Revenues | 28,705) | 16,552) | 17,038) | 26,786) | 25,257) | —) |
| Segment Profitability Ratio | ||||||
| Segment profit margin1 | 27.54% | 2.85% | -0.48% | 25.23% | 24.13% | — |
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
Segment profit margin = 100 × Segment operating income ÷ Revenues
= 100 × 7,905 ÷ 28,705 = 27.54%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Disney Parks, Experiences and Products (DPEP) | Disney Parks, Experiences and Products (DPEP) segment profit margin ratio improved from 2020 to 2021 and from 2021 to 2022. |
Segment Return on Assets (Segment ROA)
Walt Disney Co., ROA by reportable segment
| Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | Sep 30, 2017 | |
|---|---|---|---|---|---|---|
| Disney Media and Entertainment Distribution (DMED) | 2.85% | 5.04% | 5.87% | 5.56% | 17.62% | — |
| Disney Parks, Experiences and Products (DPEP) | 18.37% | 1.13% | -0.19% | 16.12% | 15.56% | — |
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).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Disney Media and Entertainment Distribution (DMED) | Disney Media and Entertainment Distribution (DMED) segment ROA deteriorated from 2020 to 2021 and from 2021 to 2022. |
| Disney Parks, Experiences and Products (DPEP) | Disney Parks, Experiences and Products (DPEP) segment ROA improved from 2020 to 2021 and from 2021 to 2022. |
Segment ROA: Disney Media and Entertainment Distribution (DMED)
Walt Disney Co.; Disney Media and Entertainment Distribution (DMED); segment ROA calculation
| Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | Sep 30, 2017 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Segment operating income | 4,216) | 7,295) | 8,189) | 8,110) | 9,594) | —) |
| Identifiable assets | 148,129) | 144,675) | 139,538) | 145,926) | 54,450) | —) |
| Segment Profitability Ratio | ||||||
| Segment ROA1 | 2.85% | 5.04% | 5.87% | 5.56% | 17.62% | — |
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
Segment ROA = 100 × Segment operating income ÷ Identifiable assets
= 100 × 4,216 ÷ 148,129 = 2.85%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Disney Media and Entertainment Distribution (DMED) | Disney Media and Entertainment Distribution (DMED) segment ROA deteriorated from 2020 to 2021 and from 2021 to 2022. |
Segment ROA: Disney Parks, Experiences and Products (DPEP)
Walt Disney Co.; Disney Parks, Experiences and Products (DPEP); segment ROA calculation
| Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | Sep 30, 2017 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Segment operating income | 7,905) | 471) | (81) | 6,758) | 6,095) | —) |
| Identifiable assets | 43,027) | 41,763) | 42,320) | 41,923) | 39,171) | —) |
| Segment Profitability Ratio | ||||||
| Segment ROA1 | 18.37% | 1.13% | -0.19% | 16.12% | 15.56% | — |
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
Segment ROA = 100 × Segment operating income ÷ Identifiable assets
= 100 × 7,905 ÷ 43,027 = 18.37%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Disney Parks, Experiences and Products (DPEP) | Disney Parks, Experiences and Products (DPEP) segment ROA improved from 2020 to 2021 and from 2021 to 2022. |
Segment Asset Turnover
Walt Disney Co., asset turnover by reportable segment
| Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | Sep 30, 2017 | |
|---|---|---|---|---|---|---|
| Disney Media and Entertainment Distribution (DMED) | 0.37 | 0.35 | 0.35 | 0.29 | 0.63 | — |
| Disney Parks, Experiences and Products (DPEP) | 0.67 | 0.40 | 0.40 | 0.64 | 0.64 | — |
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).
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Disney Media and Entertainment Distribution (DMED) | Disney Media and Entertainment Distribution (DMED) segment asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022. |
| Disney Parks, Experiences and Products (DPEP) | Disney Parks, Experiences and Products (DPEP) segment asset turnover ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |
Segment Asset Turnover: Disney Media and Entertainment Distribution (DMED)
Walt Disney Co.; Disney Media and Entertainment Distribution (DMED); segment asset turnover calculation
| 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 | 55,040) | 50,866) | 48,350) | 42,784) | 34,177) | —) |
| Identifiable assets | 148,129) | 144,675) | 139,538) | 145,926) | 54,450) | —) |
| Segment Activity Ratio | ||||||
| Segment asset turnover1 | 0.37 | 0.35 | 0.35 | 0.29 | 0.63 | — |
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
Segment asset turnover = Revenues ÷ Identifiable assets
= 55,040 ÷ 148,129 = 0.37
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Disney Media and Entertainment Distribution (DMED) | Disney Media and Entertainment Distribution (DMED) segment asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022. |
Segment Asset Turnover: Disney Parks, Experiences and Products (DPEP)
Walt Disney Co.; Disney Parks, Experiences and Products (DPEP); segment asset turnover calculation
| 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 | 28,705) | 16,552) | 17,038) | 26,786) | 25,257) | —) |
| Identifiable assets | 43,027) | 41,763) | 42,320) | 41,923) | 39,171) | —) |
| Segment Activity Ratio | ||||||
| Segment asset turnover1 | 0.67 | 0.40 | 0.40 | 0.64 | 0.64 | — |
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
Segment asset turnover = Revenues ÷ Identifiable assets
= 28,705 ÷ 43,027 = 0.67
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Disney Parks, Experiences and Products (DPEP) | Disney Parks, Experiences and Products (DPEP) segment asset turnover ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |
Segment Capital Expenditures to Depreciation
Walt Disney Co., capital expenditures to depreciation by reportable segment
| Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | Sep 30, 2017 | |
|---|---|---|---|---|---|---|
| Disney Media and Entertainment Distribution (DMED) | 1.25 | 1.41 | 1.23 | 1.10 | 1.13 | — |
| Disney Parks, Experiences and Products (DPEP) | 1.47 | 1.00 | 1.25 | 1.89 | 1.76 | — |
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).
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Disney Media and Entertainment Distribution (DMED) | Disney Media and Entertainment Distribution (DMED) segment capital expenditures to depreciation ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |
| Disney Parks, Experiences and Products (DPEP) | Disney Parks, Experiences and Products (DPEP) segment capital expenditures to depreciation ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |
Segment Capital Expenditures to Depreciation: Disney Media and Entertainment Distribution (DMED)
Walt Disney Co.; Disney Media and Entertainment Distribution (DMED); segment capital expenditures to depreciation calculation
| Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | Sep 30, 2017 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Capital expenditures | 810) | 862) | 783) | 520) | 406) | —) |
| Depreciation expense | 650) | 613) | 638) | 472) | 360) | —) |
| Segment Financial Ratio | ||||||
| Segment capital expenditures to depreciation1 | 1.25 | 1.41 | 1.23 | 1.10 | 1.13 | — |
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
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation expense
= 810 ÷ 650 = 1.25
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Disney Media and Entertainment Distribution (DMED) | Disney Media and Entertainment Distribution (DMED) segment capital expenditures to depreciation ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |
Segment Capital Expenditures to Depreciation: Disney Parks, Experiences and Products (DPEP)
Walt Disney Co.; Disney Parks, Experiences and Products (DPEP); segment capital expenditures to depreciation calculation
| Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | Sep 30, 2017 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Capital expenditures | 3,447) | 2,272) | 2,904) | 4,146) | 3,900) | —) |
| Depreciation expense | 2,342) | 2,269) | 2,328) | 2,198) | 2,217) | —) |
| Segment Financial Ratio | ||||||
| Segment capital expenditures to depreciation1 | 1.47 | 1.00 | 1.25 | 1.89 | 1.76 | — |
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
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation expense
= 3,447 ÷ 2,342 = 1.47
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Disney Parks, Experiences and Products (DPEP) | Disney Parks, Experiences and Products (DPEP) segment capital expenditures to depreciation ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |
Revenues
Walt Disney Co., revenues by reportable segment
US$ in millions
| Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | Sep 30, 2017 | |
|---|---|---|---|---|---|---|
| Disney Media and Entertainment Distribution (DMED) | 55,040) | 50,866) | 48,350) | 42,784) | 34,177) | —) |
| Disney Parks, Experiences and Products (DPEP) | 28,705) | 16,552) | 17,038) | 26,786) | 25,257) | —) |
| Total | 83,745) | 67,418) | 65,388) | 69,570) | 59,434) | —) |
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).
Segment operating income
Walt Disney Co., segment operating income by reportable segment
US$ in millions
| Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | Sep 30, 2017 | |
|---|---|---|---|---|---|---|
| Disney Media and Entertainment Distribution (DMED) | 4,216) | 7,295) | 8,189) | 8,110) | 9,594) | —) |
| Disney Parks, Experiences and Products (DPEP) | 7,905) | 471) | (81) | 6,758) | 6,095) | —) |
| Total | 12,121) | 7,766) | 8,108) | 14,868) | 15,689) | —) |
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).
Capital expenditures
Walt Disney Co., capital expenditures by reportable segment
US$ in millions
| Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | Sep 30, 2017 | |
|---|---|---|---|---|---|---|
| Disney Media and Entertainment Distribution (DMED) | 810) | 862) | 783) | 520) | 406) | —) |
| Disney Parks, Experiences and Products (DPEP) | 3,447) | 2,272) | 2,904) | 4,146) | 3,900) | —) |
| Corporate | 686) | 444) | 335) | 210) | 159) | —) |
| Total | 4,943) | 3,578) | 4,022) | 4,876) | 4,465) | —) |
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).
Depreciation expense
Walt Disney Co., depreciation expense by reportable segment
US$ in millions
| Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | Sep 30, 2017 | |
|---|---|---|---|---|---|---|
| Disney Media and Entertainment Distribution (DMED) | 650) | 613) | 638) | 472) | 360) | —) |
| Disney Parks, Experiences and Products (DPEP) | 2,342) | 2,269) | 2,328) | 2,198) | 2,217) | —) |
| Corporate | 191) | 186) | 174) | 167) | 181) | —) |
| Total | 3,183) | 3,068) | 3,140) | 2,837) | 2,758) | —) |
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).
Identifiable assets
Walt Disney Co., identifiable assets by reportable segment
US$ in millions
| Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | Sep 30, 2017 | |
|---|---|---|---|---|---|---|
| Disney Media and Entertainment Distribution (DMED) | 148,129) | 144,675) | 139,538) | 145,926) | 54,450) | —) |
| Disney Parks, Experiences and Products (DPEP) | 43,027) | 41,763) | 42,320) | 41,923) | 39,171) | —) |
| Corporate | 12,475) | 17,171) | 19,691) | 6,135) | 4,977) | —) |
| Total | 203,631) | 203,609) | 201,549) | 193,984) | 98,598) | —) |
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).