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Microsoft Excel LibreOffice Calc

Walt Disney Co. (NYSE:DIS)

Enterprise Value to FCFF (EV/FCFF)

Intermediate level

Free Cash Flow to The Firm (FCFF)

Walt Disney Co., FCFF calculation

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended Sep 28, 2019 Sep 29, 2018 Sep 30, 2017 Oct 1, 2016 Oct 3, 2015 Sep 27, 2014
Net income attributable to The Walt Disney Company (Disney)
Net income attributable to noncontrolling and redeemable noncontrolling interests
Net noncash charges
Changes in operating assets and liabilities, net of business acquisitions
Cash provided by operations
Interest paid, net of tax1
Interest capitalized, net of tax2
Investments in parks, resorts and other property
Free cash flow to the firm (FCFF)

Based on: 10-K (filing date: 2019-11-20), 10-K (filing date: 2018-11-21), 10-K (filing date: 2017-11-22), 10-K (filing date: 2016-11-23), 10-K (filing date: 2015-11-25), 10-K (filing date: 2014-11-19).

1, 2 See details »

Item Description The company
FCFF Free cash flow to the firm is the cash flow available to the Walt Disney Co.’s suppliers of capital after all operating expenses have been paid and necessary investments in working and fixed capital have been made. Walt Disney Co.’s FCFF increased from 2017 to 2018 but then decreased significantly from 2018 to 2019.

Interest Paid, Net of Tax

Walt Disney Co., interest paid, net of tax calculation

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended Sep 28, 2019 Sep 29, 2018 Sep 30, 2017 Oct 1, 2016 Oct 3, 2015 Sep 27, 2014
Effective Income Tax Rate (EITR)
EITR1
Interest Paid, Net of Tax
Interest paid, before tax
Less: Interest paid, tax2
Interest paid, net of tax
Interest Costs Capitalized, Net of Tax
Interest capitalized, before tax
Less: Interest capitalized, tax3
Interest capitalized, net of tax

Based on: 10-K (filing date: 2019-11-20), 10-K (filing date: 2018-11-21), 10-K (filing date: 2017-11-22), 10-K (filing date: 2016-11-23), 10-K (filing date: 2015-11-25), 10-K (filing date: 2014-11-19).

1 See details »

2 2019 Calculation
Interest paid, tax = Interest paid × EITR
= × =

3 2019 Calculation
Interest capitalized, tax = Interest capitalized × EITR
= × =

Enterprise Value to FCFF Ratio, Current

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

Microsoft Excel LibreOffice Calc
Selected Financial Data (US$ in millions)
Enterprise value (EV)
Free cash flow to the firm (FCFF)
Valuation Ratio
EV/FCFF
Benchmarks
EV/FCFF, Competitors1
Charter Communications Inc.
Comcast Corp.
Netflix Inc.
EV/FCFF, Sector
Media
EV/FCFF, Industry
Consumer Services

Based on: 10-K (filing date: 2019-11-20).

1 Click competitor name to see calculations.

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

Enterprise Value to FCFF Ratio, Historical

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

Microsoft Excel LibreOffice Calc
Sep 28, 2019 Sep 29, 2018 Sep 30, 2017 Oct 1, 2016 Oct 3, 2015 Sep 27, 2014
Selected Financial Data (US$ in millions)
Enterprise value (EV)1
Free cash flow to the firm (FCFF)2
Valuation Ratio
EV/FCFF3
Benchmarks
EV/FCFF, Competitors4
Charter Communications Inc.
Comcast Corp.
Netflix Inc.
EV/FCFF, Sector
Media
EV/FCFF, Industry
Consumer Services

Based on: 10-K (filing date: 2019-11-20), 10-K (filing date: 2018-11-21), 10-K (filing date: 2017-11-22), 10-K (filing date: 2016-11-23), 10-K (filing date: 2015-11-25), 10-K (filing date: 2014-11-19).

1 See details »

2 See details »

3 2019 Calculation
EV/FCFF = EV ÷ FCFF
= ÷ =

4 Click competitor name to see calculations.

Valuation ratio Description The company
EV/FCFF Enterprise value to free cash flow to the firm is whole company valuation indicator. Walt Disney Co.’s EV/FCFF ratio decreased from 2017 to 2018 but then increased from 2018 to 2019 exceeding 2017 level.