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 2, 2021 Oct 3, 2020 Sep 28, 2019 Sep 29, 2018 Sep 30, 2017 Oct 1, 2016
Net income (loss) attributable to The Walt Disney Company (Disney) 1,995  (2,864) 11,054  12,598  8,980  9,391 
Add: Net income attributable to noncontrolling interest 512  390  530  468  386  399 
Less: Income (loss) from discontinued operations, net of income tax (expense) benefit (29) (32) 671  —  —  — 
Add: Income tax expense 25  699  3,031  1,663  4,422  5,078 
Earnings before tax (EBT) 2,561  (1,743) 13,944  14,729  13,788  14,868 
Add: Interest expense 1,546  1,647  1,246  682  507  354 
Earnings before interest and tax (EBIT) 4,107  (96) 15,190  15,411  14,295  15,222 
Add: Depreciation and amortization 5,111  5,345  4,160  3,011  2,782  2,527 
Earnings before interest, tax, depreciation and amortization (EBITDA) 9,218  5,249  19,350  18,422  17,077  17,749 

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).

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 decreased from 2019 to 2020 but then slightly increased from 2020 to 2021.

Enterprise Value to EBITDA Ratio, Current

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

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Selected Financial Data (US$ in millions)
Enterprise value (EV) 286,031 
Earnings before interest, tax, depreciation and amortization (EBITDA) 9,218 
Valuation Ratio
EV/EBITDA 31.03
Benchmarks
EV/EBITDA, Competitors1
Alphabet Inc. 25.75
Charter Communications Inc. 10.52
Comcast Corp. 9.92
Meta Platforms Inc. 18.93
Netflix Inc. 11.25
EV/EBITDA, Sector
Media & Entertainment 19.28
EV/EBITDA, Industry
Communication Services 14.90

Based on: 10-K (reporting date: 2021-10-02).

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 2, 2021 Oct 3, 2020 Sep 28, 2019 Sep 29, 2018 Sep 30, 2017 Oct 1, 2016
Selected Financial Data (US$ in millions)
Enterprise value (EV)1 318,276  315,627  311,557  189,201  180,273  176,189 
Earnings before interest, tax, depreciation and amortization (EBITDA)2 9,218  5,249  19,350  18,422  17,077  17,749 
Valuation Ratio
EV/EBITDA3 34.53 60.13 16.10 10.27 10.56 9.93
Benchmarks
EV/EBITDA, Competitors4
Alphabet Inc. 20.57 17.08 15.69 19.10 15.51
Charter Communications Inc. 11.53 11.86 9.96 11.59 15.42
Comcast Corp. 10.36 8.66 9.31 9.19 8.89
Meta Platforms Inc. 17.31 17.76 14.64 21.98 23.48
Netflix Inc. 16.57 13.35 16.21 18.19 11.97
EV/EBITDA, Sector
Media & Entertainment 17.85 14.53 12.94 15.30
EV/EBITDA, Industry
Communication Services 14.28 11.49 10.28 11.81

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 See details »

2 See details »

3 2021 Calculation
EV/EBITDA = EV ÷ EBITDA
= 318,276 ÷ 9,218 = 34.53

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 increased from 2019 to 2020 but then slightly decreased from 2020 to 2021 not reaching 2019 level.