Price to FCFE (P/FCFE)
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- Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to FCFF (EV/FCFF)
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Price to Sales (P/S) since 2005
- Aggregate Accruals
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Free Cash Flow to Equity (FCFE)
Walt Disney Co., FCFE calculation
US$ in millions
Based on: 10-K (reporting date: 2024-09-28), 10-K (reporting date: 2023-09-30), 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).
- Cash Provided by Operations
- The cash flow from operating activities exhibits notable variability over the analyzed period. Starting at 5,984 million USD in 2019, there is a significant increase to 7,616 million USD in 2020, indicating enhanced operational cash generation during that year. However, this is followed by a decline to 5,566 million USD in 2021, suggesting reduced cash inflows from core operations. The subsequent years show a recovery trend, with values rising to 6,002 million USD in 2022, then sharply increasing to 9,866 million USD in 2023, and further to 13,971 million USD in 2024. This trajectory points to improving operational efficiency and stronger cash inflows over the latter part of the period.
- Free Cash Flow to Equity (FCFE)
- The free cash flow to equity demonstrates substantial fluctuations and periods of volatility. Initially, FCFE is reported at 4,785 million USD in 2019, rising markedly to 14,827 million USD in 2020. This peak suggests strong capacity to generate cash available for equity holders. Contrarily, 2021 and 2022 reflect negative FCFE figures of -1,711 million USD and -2,958 million USD respectively, highlighting periods where cash outflows or investments exceeded operating cash inflows. Positive signs reappear in 2023 with FCFE increasing to 3,114 million USD and further improving to 7,159 million USD in 2024. These changes indicate recovery in free cash generation and enhanced liquidity available to equity investors after a challenging mid-period.
Price to FCFE Ratio, Current
Walt Disney Co., current P/FCFE calculation, comparison to benchmarks
| No. shares of common stock outstanding | |
| Selected Financial Data (US$) | |
| Free cash flow to equity (FCFE) (in millions) | |
| FCFE per share | |
| Current share price (P) | |
| Valuation Ratio | |
| P/FCFE | |
| Benchmarks | |
| P/FCFE, Competitors1 | |
| Alphabet Inc. | |
| Comcast Corp. | |
| Meta Platforms Inc. | |
| Netflix Inc. | |
| Take-Two Interactive Software Inc. | |
| P/FCFE, Sector | |
| Media & Entertainment | |
| P/FCFE, Industry | |
| Communication Services | |
Based on: 10-K (reporting date: 2024-09-28).
1 Click competitor name to see calculations.
If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.
Price to FCFE Ratio, Historical
Walt Disney Co., historical P/FCFE calculation, comparison to benchmarks
| Sep 28, 2024 | Sep 30, 2023 | Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | ||
|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||
| Selected Financial Data (US$) | |||||||
| Free cash flow to equity (FCFE) (in millions)2 | |||||||
| FCFE per share3 | |||||||
| Share price1, 4 | |||||||
| Valuation Ratio | |||||||
| P/FCFE5 | |||||||
| Benchmarks | |||||||
| P/FCFE, Competitors6 | |||||||
| Alphabet Inc. | |||||||
| Comcast Corp. | |||||||
| Meta Platforms Inc. | |||||||
| Netflix Inc. | |||||||
| Take-Two Interactive Software Inc. | |||||||
| P/FCFE, Sector | |||||||
| Media & Entertainment | |||||||
| P/FCFE, Industry | |||||||
| Communication Services | |||||||
Based on: 10-K (reporting date: 2024-09-28), 10-K (reporting date: 2023-09-30), 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).
1 Data adjusted for splits and stock dividends.
3 2024 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= ÷ =
4 Closing price as at the filing date of Walt Disney Co. Annual Report.
5 2024 Calculation
P/FCFE = Share price ÷ FCFE per share
= ÷ =
6 Click competitor name to see calculations.
- Share Price
- The share price exhibited relative stability from 2019 through 2021, remaining within the range of approximately US$146 to US$151. However, a significant decline occurred in 2022, with the price dropping sharply to around US$95. In 2023, the price remained nearly unchanged from the previous year, followed by a moderate recovery in 2024, increasing to approximately US$109.
- Free Cash Flow to Equity (FCFE) per Share
- The FCFE per share showed a notable increase in 2020, more than tripling compared to 2019. This was followed by a decline into negative territory for two consecutive years (2021 and 2022), indicating cash outflows to equity holders in those periods. The FCFE per share returned to positive figures in 2023 and further improved in 2024, suggesting a recovery in cash generation.
- Price to FCFE Ratio (P/FCFE)
- P/FCFE followed a decreasing trend from 55.35 in 2019 to 18.2 in 2020, reflecting improved cash flow relative to the share price. Data for 2021 and 2022 are missing, likely because negative FCFE values make this ratio undefined or less meaningful. In 2023, the ratio surged back to 55.51, which might reflect a combination of modest FCFE recovery and a stable share price. In 2024, it declined again to 27.6, corresponding with improved FCFE and partial price recovery.