Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.

Short-term Activity Ratios (Summary)
Inventory Turnover
Receivables Turnover
Payables Turnover
Working Capital Turnover
Average Inventory Processing Period
Average Receivable Collection Period
Operating Cycle
Average Payables Payment Period
Cash Conversion Cycle

Walt Disney Co., short-term (operating) activity ratios

		Oct 2, 2021	Oct 3, 2020	Sep 28, 2019	Sep 29, 2018	Sep 30, 2017	Oct 1, 2016
	Turnover Ratios
	Inventory turnover
	Receivables turnover
	Payables turnover
	Working capital turnover
	Average No. Days
	Average inventory processing period
	Add: Average receivable collection period
	Operating cycle
	Less: Average payables payment period
	Cash conversion cycle

Based on: 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), 10-K (reporting date: 2016-10-01).

Short-term activity ratio	Description	The company
Inventory turnover	An activity ratio calculated as cost of goods sold divided by inventory.	Walt Disney Co. inventory turnover ratio improved from 2019 to 2020 and from 2020 to 2021.
Receivables turnover	An activity ratio equal to revenue divided by receivables.	Walt Disney Co. receivables turnover ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021.
Payables turnover	An activity ratio calculated as cost of goods sold divided by payables.	Walt Disney Co. payables turnover ratio increased from 2019 to 2020 but then decreased significantly from 2020 to 2021.

Short-term activity ratio	Description	The company
Average inventory processing period	An activity ratio equal to the number of days in the period divided by inventory turnover over the period.	Walt Disney Co. number of days of inventory outstanding improved from 2019 to 2020 and from 2020 to 2021.
Average receivable collection period	An activity ratio equal to the number of days in the period divided by receivables turnover.	Walt Disney Co. number of days of receivables outstanding improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021.
Operating cycle	Equal to average inventory processing period plus average receivables collection period.	Walt Disney Co. operating cycle improved from 2019 to 2020 and from 2020 to 2021.
Average payables payment period	An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period.	Walt Disney Co. number of days of payables outstanding decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.
Cash conversion cycle	A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period.	Walt Disney Co. cash conversion cycle improved from 2019 to 2020 and from 2020 to 2021.

Walt Disney Co., inventory turnover calculation, comparison to benchmarks

		Oct 2, 2021	Oct 3, 2020	Sep 28, 2019	Sep 29, 2018	Sep 30, 2017	Oct 1, 2016
	Selected Financial Data (US$ in millions)
	Cost of revenues, exclusive of depreciation and amortization
	Inventories
	Short-term Activity Ratio
	Inventory turnover¹
	Benchmarks
	Inventory Turnover, Competitors²
	Alphabet Inc.
	Inventory Turnover, Sector
	Media & Entertainment
	Inventory Turnover, Industry
	Communication Services

Based on: 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), 10-K (reporting date: 2016-10-01).

¹ 2021 Calculation
Inventory turnover = Cost of revenues, exclusive of depreciation and amortization ÷ Inventories
= ÷ =

² Click competitor name to see calculations.

Short-term activity ratio	Description	The company
Inventory turnover	An activity ratio calculated as cost of goods sold divided by inventory.	Walt Disney Co. inventory turnover ratio improved from 2019 to 2020 and from 2020 to 2021.

Walt Disney Co., receivables turnover calculation, comparison to benchmarks

		Oct 2, 2021	Oct 3, 2020	Sep 28, 2019	Sep 29, 2018	Sep 30, 2017	Oct 1, 2016
	Selected Financial Data (US$ in millions)
	Revenues
	Receivables, net
	Short-term Activity Ratio
	Receivables turnover¹
	Benchmarks
	Receivables Turnover, Competitors²
	Alphabet Inc.
	Charter Communications Inc.
	Comcast Corp.
	Meta Platforms Inc.
	Netflix Inc.
	Receivables Turnover, Sector
	Media & Entertainment
	Receivables Turnover, Industry
	Communication Services

Based on: 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), 10-K (reporting date: 2016-10-01).

¹ 2021 Calculation
Receivables turnover = Revenues ÷ Receivables, net
= ÷ =

² Click competitor name to see calculations.

Short-term activity ratio	Description	The company
Receivables turnover	An activity ratio equal to revenue divided by receivables.	Walt Disney Co. receivables turnover ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021.

Walt Disney Co., payables turnover calculation, comparison to benchmarks

		Oct 2, 2021	Oct 3, 2020	Sep 28, 2019	Sep 29, 2018	Sep 30, 2017	Oct 1, 2016
	Selected Financial Data (US$ in millions)
	Cost of revenues, exclusive of depreciation and amortization
	Accounts and accrued payables
	Short-term Activity Ratio
	Payables turnover¹
	Benchmarks
	Payables Turnover, Competitors²
	Alphabet Inc.
	Charter Communications Inc.
	Comcast Corp.
	Meta Platforms Inc.
	Netflix Inc.
	Payables Turnover, Sector
	Media & Entertainment
	Payables Turnover, Industry
	Communication Services

Based on: 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), 10-K (reporting date: 2016-10-01).

¹ 2021 Calculation
Payables turnover = Cost of revenues, exclusive of depreciation and amortization ÷ Accounts and accrued payables
= ÷ =

² Click competitor name to see calculations.

Short-term activity ratio	Description	The company
Payables turnover	An activity ratio calculated as cost of goods sold divided by payables.	Walt Disney Co. payables turnover ratio increased from 2019 to 2020 but then decreased significantly from 2020 to 2021.

Walt Disney Co., working capital turnover calculation, comparison to benchmarks

		Oct 2, 2021	Oct 3, 2020	Sep 28, 2019	Sep 29, 2018	Sep 30, 2017	Oct 1, 2016
	Selected Financial Data (US$ in millions)
	Current assets
	Less: Current liabilities
	Working capital

	Revenues
	Short-term Activity Ratio
	Working capital turnover¹
	Benchmarks
	Working Capital Turnover, Competitors²
	Alphabet Inc.
	Charter Communications Inc.
	Comcast Corp.
	Meta Platforms Inc.
	Netflix Inc.
	Working Capital Turnover, Sector
	Media & Entertainment
	Working Capital Turnover, Industry
	Communication Services

Based on: 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), 10-K (reporting date: 2016-10-01).

¹ 2021 Calculation
Working capital turnover = Revenues ÷ Working capital
= ÷ =

² Click competitor name to see calculations.

Walt Disney Co., average inventory processing period calculation, comparison to benchmarks

		Oct 2, 2021	Oct 3, 2020	Sep 28, 2019	Sep 29, 2018	Sep 30, 2017	Oct 1, 2016
	Selected Financial Data
	Inventory turnover
	Short-term Activity Ratio (no. days)
	Average inventory processing period¹
	Benchmarks (no. days)
	Average Inventory Processing Period, Competitors²
	Alphabet Inc.
	Average Inventory Processing Period, Sector
	Media & Entertainment
	Average Inventory Processing Period, Industry
	Communication Services

Based on: 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), 10-K (reporting date: 2016-10-01).

¹ 2021 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ =

² Click competitor name to see calculations.

Short-term activity ratio	Description	The company
Average inventory processing period	An activity ratio equal to the number of days in the period divided by inventory turnover over the period.	Walt Disney Co. number of days of inventory outstanding improved from 2019 to 2020 and from 2020 to 2021.

Walt Disney Co., average receivable collection period calculation, comparison to benchmarks

		Oct 2, 2021	Oct 3, 2020	Sep 28, 2019	Sep 29, 2018	Sep 30, 2017	Oct 1, 2016
	Selected Financial Data
	Receivables turnover
	Short-term Activity Ratio (no. days)
	Average receivable collection period¹
	Benchmarks (no. days)
	Average Receivable Collection Period, Competitors²
	Alphabet Inc.
	Charter Communications Inc.
	Comcast Corp.
	Meta Platforms Inc.
	Netflix Inc.
	Average Receivable Collection Period, Sector
	Media & Entertainment
	Average Receivable Collection Period, Industry
	Communication Services

Based on: 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), 10-K (reporting date: 2016-10-01).

¹ 2021 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ =

² Click competitor name to see calculations.

Short-term activity ratio	Description	The company
Average receivable collection period	An activity ratio equal to the number of days in the period divided by receivables turnover.	Walt Disney Co. number of days of receivables outstanding improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021.

Walt Disney Co., operating cycle calculation, comparison to benchmarks

No. days

		Oct 2, 2021	Oct 3, 2020	Sep 28, 2019	Sep 29, 2018	Sep 30, 2017	Oct 1, 2016
	Selected Financial Data
	Average inventory processing period
	Average receivable collection period
	Short-term Activity Ratio
	Operating cycle¹
	Benchmarks
	Operating Cycle, Competitors²
	Alphabet Inc.
	Operating Cycle, Sector
	Media & Entertainment
	Operating Cycle, Industry
	Communication Services

Based on: 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), 10-K (reporting date: 2016-10-01).

¹ 2021 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= + =

² Click competitor name to see calculations.

Short-term activity ratio	Description	The company
Operating cycle	Equal to average inventory processing period plus average receivables collection period.	Walt Disney Co. operating cycle improved from 2019 to 2020 and from 2020 to 2021.

Walt Disney Co., average payables payment period calculation, comparison to benchmarks

		Oct 2, 2021	Oct 3, 2020	Sep 28, 2019	Sep 29, 2018	Sep 30, 2017	Oct 1, 2016
	Selected Financial Data
	Payables turnover
	Short-term Activity Ratio (no. days)
	Average payables payment period¹
	Benchmarks (no. days)
	Average Payables Payment Period, Competitors²
	Alphabet Inc.
	Charter Communications Inc.
	Comcast Corp.
	Meta Platforms Inc.
	Netflix Inc.
	Average Payables Payment Period, Sector
	Media & Entertainment
	Average Payables Payment Period, Industry
	Communication Services

Based on: 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), 10-K (reporting date: 2016-10-01).

¹ 2021 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ =

² Click competitor name to see calculations.

Short-term activity ratio	Description	The company
Average payables payment period	An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period.	Walt Disney Co. number of days of payables outstanding decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.

Walt Disney Co., cash conversion cycle calculation, comparison to benchmarks

No. days

		Oct 2, 2021	Oct 3, 2020	Sep 28, 2019	Sep 29, 2018	Sep 30, 2017	Oct 1, 2016
	Selected Financial Data
	Average inventory processing period
	Average receivable collection period
	Average payables payment period
	Short-term Activity Ratio
	Cash conversion cycle¹
	Benchmarks
	Cash Conversion Cycle, Competitors²
	Alphabet Inc.
	Cash Conversion Cycle, Sector
	Media & Entertainment
	Cash Conversion Cycle, Industry
	Communication Services

Based on: 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), 10-K (reporting date: 2016-10-01).

¹ 2021 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= + – =

² Click competitor name to see calculations.

Short-term activity ratio	Description	The company
Cash conversion cycle	A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period.	Walt Disney Co. cash conversion cycle improved from 2019 to 2020 and from 2020 to 2021.

	Walt Disney Co.	Other companies (not purchased previously)
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Analysis of Financial Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
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Long-term Trends
Analysis of Components of Financial Statements
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Financial Statements
Common-Size Financial Statements
Analysis of Financial Ratios
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Long-term Trends
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Financial Reporting Quality

Walt Disney Co. (NYSE:DIS)

Analysis of Short-term (Operating) Activity Ratios

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Short-term Activity Ratios (Summary)

Inventory Turnover

Receivables Turnover

Payables Turnover

Working Capital Turnover

Average Inventory Processing Period

Average Receivable Collection Period

Operating Cycle

Average Payables Payment Period

Cash Conversion Cycle