Walt Disney Co
DIS · NYSE · CIK 0001744489
SIC 7990
Services-Miscellaneous Amusement & Recreation
Category
Other
Entity
operating
Incorp.
DE
Fiscal Y/E
1003
Source: SEC EDGAR · All filings on SEC →
Investment Indicators
$104.70
-3.32 (-3.07%)
Open
$108.00
High
$108.39
Low
$104.38
Prev Close
$108.02
Volume
8,565,940
52W High
$123.85
52W Low
$92.19
50-day MA
$100.93
Quote as of: 2026-05-11
Market Cap
$188.69B
P/E
17.39
P/B
1.73
PEG
3.08
EPS
6.25
BPS
61.08
Dividend Yield
1.39%
Beta
1.42
ROE
11.29%
ROA
6.28%
Current Ratio
0.71
Operating Margin
18.59%
Net Margin
13.14%
Book Value/Share
$57.83
Intrinsic Value Estimates
Multiple valuation methods, each with its own assumptions — outputs can diverge widely
Median consensus (7 methods)
$186.06B
| Method | Implied market cap | vs current |
|---|---|---|
Graham Number √(22.5 × 순이익 × 자본) | $175.11B | +8% |
Graham Formula 순이익 × (8.5 + 2 × 성장률%) | $725.63B | -74% |
Justified P/E 순이익 × 산업 평균 P/E | $186.06B | +1% |
P/B 배수 자본 × 산업 평균 P/B | $164.80B | +14% |
P/S 배수 매출 × 산업 평균 P/S | $188.85B | -0% |
DCF (Gordon) CF × (1+g) / (r − g) | $356.05B | -47% |
DDM (Gordon) D × (1+g) / (r − g) | $63.71B | +196% |
▶ Detailed analysis — formula walk-through & scenarios
Why this conclusion
Of the 7 valuation methods, 7 were applicable. Their median fair-value lands +1.4% below the current market cap → the stock trades above most formulas' estimates (overvalued). 1 methods flag overvalued, 2 flag undervalued, the rest land within fair range. Read each formula's assumptions below before treating any single number as the answer.
Graham Number
Fair +7.8%√(22.5 × 순이익 × 자본)
Current
$188.69B
Implied fair
$175.11B
Gap (current − fair)
+$13.58B(+7.8%)
NetIncome = $12.40B Equity = $109.87B √(22.5 × $12.40B × $109.87B) = $175.11B
- 최대 PER 15배
- 최대 PBR 1.5배
- 안정적 흑자 기업 가정 (금융·고성장 부정확)
Graham Formula
Undervalued -74.0%순이익 × (8.5 + 2 × 성장률%)
Current
$188.69B
Implied fair
$725.63B
Gap (current − fair)
$-536.94B(-74.0%)
NetIncome = $12.40B Growth g = 149.5% → cap 25.0% Multiple = 8.5 + 2 × 25.0 = 58.5× $12.40B × 58.5 = $725.63B
- EPS 성장률 149.5%/년 가정 (직전 1년 기준)
- 무성장 기업 P/E = 8.5
- 현재 적용 배수: 58.5x
Justified P/E
Fair +1.4%순이익 × 산업 평균 P/E
Current
$188.69B
Implied fair
$186.06B
Gap (current − fair)
+$2.63B(+1.4%)
NetIncome = $12.40B Industry P/E = 15× $12.40B × 15 = $186.06B
- 산업 평균 PER 15x 가정 (사용자 정의 가능)
- 동종 업종 비교가 핵심 — 산업별 평균 P/E 사용 권장
P/B 배수
Fair +14.5%자본 × 산업 평균 P/B
Current
$188.69B
Implied fair
$164.80B
Gap (current − fair)
+$23.89B(+14.5%)
Equity = $109.87B Industry P/B = 1.5× $109.87B × 1.5 = $164.80B
- 산업 평균 PBR 1.5x 가정
- 은행·보험·자산집약적 산업에 특히 유효
P/S 배수
Fair -0.1%매출 × 산업 평균 P/S
Current
$188.69B
Implied fair
$188.85B
Gap (current − fair)
$-160.65M(-0.1%)
Revenue = $94.42B Industry P/S = 2× $94.42B × 2 = $188.85B
- 산업 평균 PSR 2x 가정
- 매출 기반 — 적자 기업·신생 기업에 적용 가능
- 이익률 차이 무시
DCF (Gordon)
Undervalued -47.0%CF × (1+g) / (r − g)
Current
$188.69B
Implied fair
$356.05B
Gap (current − fair)
$-167.36B(-47.0%)
FCF = $10.08B Discount r = 4.0% + 5.0% = 9.0% Growth g = 6.0% $10.08B × (1 + 6.0%) / (9.0% − 6.0%) = $356.05B
- 현금흐름 입력: FCF (잉여현금흐름)
- 할인율 9.0% (무위험 4.0% + 주식위험프리미엄 5.0%)
- 영구 성장률 6.0% (실질 GDP 수준)
DDM (Gordon)
Overvalued +196.2%D × (1+g) / (r − g)
Current
$188.69B
Implied fair
$63.71B
Gap (current − fair)
+$124.98B(+196.2%)
Dividend D = $1.80B Discount r = 9.0% Growth g = 6.0% $1.80B × (1 + 6.0%) / (9.0% − 6.0%) = $63.71B
- 배당 입력: 실제 지급 배당
- 할인율 9.0%
- 배당 영구 성장률 6.0%
DCF sensitivity: discount rate × terminal growth
Each cell is the (current vs FCF × (1+g) / (r − g)) discount % under the assumed growth g and discount r.
| g \ r | 7% | 8% | 9% | 10% | 11% |
|---|---|---|---|---|---|
| 1% | +11.2% | +29.8% | +48.3% | +66.9% | +85.4% |
| 2% | -8.2% | +10.1% | +28.5% | +46.9% | +65.2% |
| 3% | -27.3% | -9.1% | +9.1% | +27.3% | +45.4% |
| 4% | -46.0% | -28.0% | -10.0% | +8.0% | +26.0% |
| 5% | -64.3% | -46.5% | -28.7% | -10.8% | +7.0% |
DDM sensitivity: discount rate × dividend growth
Each cell is the discount % vs Dividend × (1+g) / (r − g) under the assumed growth g and discount r.
| g \ r | 7% | 8% | 9% | 10% | 11% |
|---|---|---|---|---|---|
| 1% | +521.7% | +625.3% | +728.9% | +832.6% | +936.2% |
| 2% | +413.0% | +515.6% | +618.2% | +720.8% | +823.4% |
| 3% | +306.4% | +408.0% | +509.6% | +611.2% | +712.8% |
| 4% | +201.9% | +302.5% | +403.1% | +503.8% | +604.4% |
| 5% | +99.3% | +199.0% | +298.7% | +398.3% | +498.0% |
All estimates rest on strong assumptions. Treat the spread, not any single number, as the signal.
Financial Statements
In USD millions (per-share figures shown directly) · Financials as of: 2025-11-13
Income Statement
| FY | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 94,425 | 91,361 | 88,898 | 82,722 | 67,418 |
| Operating Income | 17,551 | 15,601 | 12,863 | 12,121 | 7,766 |
| Net Income | 12,404 | 4,972 | 2,354 | 3,145 | 1,995 |
| EPS (Basic) | 6.88 | 2.72 | 1.29 | 1.73 | 1.10 |
| EPS (Diluted) | 6.85 | 2.72 | 1.29 | 1.72 | 1.09 |
Balance Sheet
| FY | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total Assets | 197,514 | 196,219 | 205,579 | 203,631 | 203,609 |
| Current Assets | 24,267 | 25,241 | 32,763 | 29,098 | 33,657 |
| Cash & Equivalents | 5,695 | 6,002 | 14,182 | 11,615 | 15,959 |
| Current Liabilities | 34,162 | 34,599 | 31,139 | 29,073 | 31,077 |
| Long-term Debt | 42,026 | 45,815 | 46,431 | 48,369 | 54,406 |
| Total Equity | 109,869 | 100,696 | 99,277 | 95,008 | 88,553 |
Cash Flow
| FY | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating CF | 18,101 | — | — | — | — |
| Investing CF | -8,043 | -6,881 | — | — | — |
| Financing CF | -10,366 | — | — | — | — |
| CapEx | 8,024 | 5,412 | 4,969 | 4,943 | 3,578 |
| Dividends Paid | 1,803 | 1,366 | — | 0 | 0 |
📄 SEC Filings
Quarterly Report
FORM 10-Q
2026-05-06
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Current Report
FORM 8-K
2026-05-06
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Current Report
FORM 8-K
2026-03-20
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8-K
2026-03-03
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2026-02-24
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8-K
2026-02-12
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Current Report
FORM 8-K
2026-02-03
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Quarterly Report
FORM 10-Q
2026-02-02
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Current Report
FORM 8-K
2026-02-02
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Proxy Statement
DEF 14A
2026-01-22
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Current Report
FORM 8-K
2025-12-09
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Annual Report
FORM 10-K
2025-11-13
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Current Report
FORM 8-K
2025-11-13
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Current Report
FORM 8-K
2025-11-12
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2025-11-07
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2025-10-16
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2025-10-01
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2025-08-06
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FORM 8-K
2025-08-06
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Other filings (81)
SCHEDULE 13G
xslSCHEDULE_13G_X02/primary_doc.xml
2026-04-30
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Insider Transaction
FORM 4
2026-04-02
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Insider Transaction
FORM 4
2026-04-02
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Insider Transaction
FORM 4
2026-04-02
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FORM 4
2026-04-02
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Insider Transaction
FORM 4
2026-04-02
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Insider Transaction
FORM 4
2026-04-02
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Insider Transaction
FORM 4
2026-04-02
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Insider Transaction
FORM 4
2026-04-02
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Insider Transaction
FORM 4
2026-04-02
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Insider Transaction
FORM 4
2026-04-02
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SCHEDULE 13G/A
xslSCHEDULE_13G_X02/primary_doc.xml
2026-03-27
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3
FORM 3
2026-03-20
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SCHEDULE 13D/A
xslSCHEDULE_13D_X02/primary_doc.xml
2026-03-20
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Insider Transaction
FORM 4
2026-03-20
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Insider Transaction
FORM 4
2026-03-20
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3
FORM 3
2026-03-20
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3
FORM 3
2026-03-20
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3
FORM 3
2026-03-20
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DEFA14A
DEFA14A
2026-03-05
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PX14A6G
FORM PX14A6G FILING
2026-02-25
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PX14A6G
FORM PX14A6G FILING
2026-02-25
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Insider Transaction
FORM 4
2026-02-17
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424B2
424B2
2026-02-12
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FWP
FWP
2026-02-10
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424B5
424B5
2026-02-10
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Insider Transaction
FORM 4
2026-01-23
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DEFA14A
DEFA14A
2026-01-22
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ARS
ARS
2026-01-22
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144
xsl144X01/primary_doc.xml
2026-01-22
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Insider Transaction
FORM 4
2026-01-20
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Insider Transaction
FORM 4
2026-01-20
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Insider Transaction
FORM 4
2026-01-20
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Insider Transaction
FORM 4
2026-01-20
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Insider Transaction
FORM 4
2026-01-20
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Insider Transaction
FORM 4
2026-01-05
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Insider Transaction
FORM 4
2026-01-05
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Insider Transaction
FORM 4
2026-01-05
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Insider Transaction
FORM 4
2026-01-05
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Insider Transaction
FORM 4
2026-01-05
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Insider Transaction
FORM 4
2026-01-05
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Insider Transaction
FORM 4
2026-01-05
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Insider Transaction
FORM 4
2026-01-05
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Insider Transaction
FORM 4
2026-01-05
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Insider Transaction
FORM 4
2025-12-29
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144
xsl144X01/primary_doc.xml
2025-12-29
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Insider Transaction
FORM 4
2025-12-19
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Insider Transaction
FORM 4
2025-12-17
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Insider Transaction
FORM 4
2025-12-17
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Insider Transaction
FORM 4
2025-12-17
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Insider Transaction
FORM 4
2025-12-17
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Insider Transaction
FORM 4
2025-12-17
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Insider Transaction
FORM 4
2025-12-17
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Insider Transaction
FORM 4
2025-12-15
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Insider Transaction
FORM 4
2025-12-02
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Insider Transaction
FORM 4
2025-12-02
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Insider Transaction
FORM 4
2025-12-02
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3
xslF345X02/form3.xml
2025-11-05
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SCHEDULE 13D
xslSCHEDULE_13D_X01/primary_doc.xml
2025-11-05
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Insider Transaction
FORM 4
2025-10-02
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Insider Transaction
FORM 4
2025-10-02
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Insider Transaction
FORM 4
2025-10-02
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Insider Transaction
FORM 4
2025-10-02
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Insider Transaction
FORM 4
2025-10-02
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Insider Transaction
FORM 4
2025-10-02
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Insider Transaction
FORM 4
2025-10-02
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Insider Transaction
FORM 4
2025-10-02
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Insider Transaction
FORM 4
2025-10-02
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Insider Transaction
FORM 4
2025-09-30
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FORM 4
2025-09-24
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Insider Transaction
FORM 4
2025-09-23
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S-3ASR
S-3ASR
2025-08-28
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Insider Transaction
FORM 4
2025-08-25
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144
xsl144X01/primary_doc.xml
2025-08-25
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Insider Transaction
FORM 4
2025-07-18
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Insider Transaction
FORM 4
2025-07-18
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Insider Transaction
FORM 4
2025-07-16
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Insider Transaction
FORM 4
2025-07-02
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Insider Transaction
FORM 4
2025-07-02
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Insider Transaction
FORM 4
2025-07-02
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Insider Transaction
FORM 4
2025-07-02
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