Stock Analysis on Net

Walt Disney Co. (NYSE:DIS)

Enterprise Value to EBITDA (EV/EBITDA) 

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Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Walt Disney Co., EBITDA calculation

US$ in millions

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12 months ended: Oct 1, 2022 Oct 2, 2021 Oct 3, 2020 Sep 28, 2019 Sep 29, 2018 Sep 30, 2017
Net income (loss) attributable to The Walt Disney Company (Disney) 3,145 1,995 (2,864) 11,054 12,598 8,980
Add: Net income attributable to noncontrolling interest 360 512 390 530 468 386
Less: Income (loss) from discontinued operations, net of income tax (48) (29) (32) 671
Add: Income tax expense 1,732 25 699 3,031 1,663 4,422
Earnings before tax (EBT) 5,285 2,561 (1,743) 13,944 14,729 13,788
Add: Interest expense 1,549 1,546 1,647 1,246 682 507
Earnings before interest and tax (EBIT) 6,834 4,107 (96) 15,190 15,411 14,295
Add: Depreciation and amortization 5,163 5,111 5,345 4,160 3,011 2,782
Earnings before interest, tax, depreciation and amortization (EBITDA) 11,997 9,218 5,249 19,350 18,422 17,077

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).

Item Description The company
EBITDA To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital. Walt Disney Co. EBITDA increased from 2020 to 2021 and from 2021 to 2022.

Enterprise Value to EBITDA Ratio, Current

Walt Disney Co., current EV/EBITDA calculation, comparison to benchmarks

Microsoft Excel
Selected Financial Data (US$ in millions)
Enterprise value (EV) 215,818
Earnings before interest, tax, depreciation and amortization (EBITDA) 11,997
Valuation Ratio
EV/EBITDA 17.99
Benchmarks
EV/EBITDA, Competitors1
Alphabet Inc. 11.28
Charter Communications Inc. 7.86
Comcast Corp. 6.44
Meta Platforms Inc. 5.02
Netflix Inc. 7.80
EV/EBITDA, Sector
Media & Entertainment 9.04
EV/EBITDA, Industry
Communication Services 8.01

Based on: 10-K (reporting date: 2022-10-01).

1 Click competitor name to see calculations.

If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.


Enterprise Value to EBITDA Ratio, Historical

Walt Disney Co., historical EV/EBITDA calculation, comparison to benchmarks

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Oct 1, 2022 Oct 2, 2021 Oct 3, 2020 Sep 28, 2019 Sep 29, 2018 Sep 30, 2017
Selected Financial Data (US$ in millions)
Enterprise value (EV)1 213,557 318,276 315,627 311,557 189,201 180,273
Earnings before interest, tax, depreciation and amortization (EBITDA)2 11,997 9,218 5,249 19,350 18,422 17,077
Valuation Ratio
EV/EBITDA3 17.80 34.53 60.13 16.10 10.27 10.56
Benchmarks
EV/EBITDA, Competitors4
Alphabet Inc. 17.70 20.57 17.08 15.70 19.10
Charter Communications Inc. 9.97 11.53 11.86 9.96 11.59
Comcast Corp. 8.45 10.36 8.66 9.31 9.19
Meta Platforms Inc. 10.85 17.31 17.76 14.64 21.98
Netflix Inc. 9.51 16.57 13.35 16.21 18.19
EV/EBITDA, Sector
Media & Entertainment 14.11 17.85 14.53 12.94 15.30
EV/EBITDA, Industry
Communication Services 11.43 14.28 11.49 10.28 11.81

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 See details »

2 See details »

3 2022 Calculation
EV/EBITDA = EV ÷ EBITDA
= 213,557 ÷ 11,997 = 17.80

4 Click competitor name to see calculations.

Valuation ratio Description The company
EV/EBITDA Enterprise value to earnings before interest, tax, depreciation and amortization is a valuation indicator for the overall company rather than common stock. Walt Disney Co. EV/EBITDA ratio decreased from 2020 to 2021 and from 2021 to 2022.