Walt Disney
Turns film, television, sports, and franchises into streaming services and destination experiences.
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Profile
Produces films and television, sells Disney+ and Hulu subscriptions, distributes ESPN across television and streaming, and earns from theme parks, resorts, cruises, and consumer-product licensing. Reuses franchises across screens and physical experiences, while sports rights, distribution agreements, and travel demand shape the economics.
Produces and distributes films and television, runs streaming and sports platforms, and operates destination and licensing businesses through Entertainment, Sports, and Experiences. Entertainment spans Disney, Pixar, Marvel, Lucasfilm, 20th Century Studios, ABC, FX, National Geographic, Disney+, Hulu, and games. Sports centers on ESPN networks and its direct-to-consumer service.
Experiences covers theme parks and resorts in the United States, Europe, and Asia; Disney Cruise Line; and consumer-products licensing. Characters and stories move among theatrical releases, streaming, television, games, physical attractions, and merchandise. Results depend on audience demand, sports rights, subscriber and advertising demand, distribution agreements, travel demand, and park operations. Broadcast stations require FCC licenses, while the Hong Kong and Shanghai resorts operate with government-linked joint-venture partners.
Company facts
Key statistics
Year to date −3.4% · Average volume (30d) 10.2M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 24, 2026 | UBS | Target | $133 | $115 | |
| Aug 18, 2026 | Craig-Hallum | Downgrade | Neutral | ||
| Aug 6, 2026 | Wells Fargo | Reiterate | Overweight | $125 | $132 |
| Aug 6, 2026 | Barclays | Reiterate | Overweight | $110 | $115 |
| Aug 3, 2026 | Truist Financial | Target | $105 | $115 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q3 FY26 | $1.86 | $2.06 | +10.8% | $25.39B | $25.25B | −0.6% | +3.65% |
| May 6, 2026Q2 FY26 | $1.49 | $1.57 | +5.4% | $24.87B | $25.17B | +1.2% | +0.56% |
| Feb 2, 2026Q1 FY26 | $1.57 | $1.63 | +3.8% | $25.70B | $25.98B | +1.1% | −0.22% |
| Nov 13, 2025Q4 FY25 | $1.05 | $1.11 | +5.7% | $22.76B | $22.46B | −1.3% | −1.68% |
Financial highlights
| 12 quarters | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $23.62B | $23.65B | $22.46B | $25.98B | $25.17B | $25.25B | |
| Gross profit | $8.81B | $9.12B | $8.45B | $9.31B | $9.27B | $10.14B | |
| Operating income | $3.51B | $3.65B | $2.60B | $3.88B | $3.79B | $5.56B | |
| Net income | $3.28B | $5.26B | $1.31B | $2.40B | $2.25B | $2.64B | |
| Diluted EPS | $1.81 | $2.92 | $0.73 | $1.34 | $1.27 | $1.51 | |
| Gross margin | 37.3% | 38.6% | 37.6% | 35.8% | 36.8% | 40.2% | |
| Operating margin | 14.8% | 15.4% | 11.6% | 14.9% | 15.1% | 22.0% |
Fiscal years (4-quarter sums)FY21 $67.42B · FY22 $82.72B · FY23 $88.90B · FY24 $91.36B · FY25 $94.43B
Revenue by product · Q3 FY26
Revenue by geography · Q3 FY26
Balance sheet, Jun 27, 2026Cash & short-term investments $5.19B · Total debt $46.04B · Total assets $204.74B · Shareholders' equity $110.03B
Dividends
Raised for 2 straight years — most recently to $0.75 from $0.50 in Dec 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 30, 2026 | Jun 30 | Jul 22 | $0.75 | |
| Dec 15, 2025 | Dec 15 | Jan 15 | $0.75 | raised from $0.50 |
| Jun 24, 2025 | Jun 24 | Jul 23 | $0.50 | |
| Dec 16, 2024 | Dec 16 | Jan 16 | $0.50 | raised from $0.45 |
| Jul 8, 2024 | Jul 8 | Jul 25 | $0.45 | raised from $0.30 |
| Dec 8, 2023 | Dec 11 | Jan 10 | $0.30 |
Ownership
Shares outstanding 1.74B · Float 1.73B · 99.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 136.88M | 7.88% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 113.43M | 6.53% | 13F | Aug 13, 2026 |
| State Street Corp | 83.50M | 4.81% | 13F | Aug 7, 2026 |
| JPMorgan Chase & Co | 75.81M | 4.37% | 13F | Aug 12, 2026 |
| Geode Capital Management, LLC | 41.32M | 2.38% | 13F | Aug 12, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 19, 2026 | Paul M. Roeder | officer: Sr EVP and Chief Comm Officer | −3,596 | $106.32 |
| Aug 14, 2026 | Brent Woodford | officer: EVP, Control, Fin Plan & Tax | −7,238 | $105.31 |
| Feb 12, 2026 | Amy Chang | director | +916 | $107.85 |
| Jan 22, 2026 | Sonia L. Coleman | officer: Sr. EVP & Chief People Officer | −2,473 | $114.00 |
| Dec 24, 2025 | Sonia L. Coleman | officer: Sr. EVP & Chief People Officer | −2,431 | $114.00 |
Peers
- Netflix
Global streaming leader with 325M+ subscribers and $45B annual revenue.
- Comcast
Sole rival competing across streaming, theme parks, and sports simultaneously.
- Warner Bros. Discovery
HBO prestige streaming and DC/Warner studio rival in scripted entertainment.
- Amazon
Prime Video's sports rights scale challenges ESPN and Disney+ for audiences.
- Banzai International
Nickelodeon, CBS, and Paramount+ contest Disney in kids, broadcast, and studio.
- Apple
Apple TV+'s prestige originals challenge Disney+ for premium SVOD subscribers.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Walt Disney | $108.09 | −0.01% | $187.72B | 22.3 | 14.6 | 1.9 | +7.1% |
| Netflix | $81.62 | −0.12% | $340.28B | 25.7 | 23.6 | 7.0 | +13.4% |
| Comcast | $27.08 | +0.09% | $96.03B | 8.8 | 7.7 | 0.8 | −1.2% |
| Warner Bros. Discovery | $28.79 | +0.05% | $72.13B | — | — | 2.0 | −11.2% |
| Amazon | $266.10 | −0.11% | $2.87T | 21.4 | 28.5 | 3.7 | +19.6% |
| Banzai International | $1.10 | +0.92% | $3.6M | — | — | 0.3 | −30.3% |
| Apple | $320.07 | +0.15% | $4.70T | 36.6 | 34.7 | 10.1 | +16.4% |
| Median | 23.6 | 26.1 | 2.8 | +6.1% |