Latest Ratios: P/E Ratio 14.2x · EV/EBITDA 10.9x · ROE 11.3%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $169.2B | $205.5B | $175.8B | $148.3B | $172.3B | $321.7B | $221.6B | $217.1B | $176.2B | $155.5B | $152.2B |
| Enterprise Value | $208.4B | $244.7B | $219.3B | $184.8B | $213.0B | $364.1B | $266.0B | $258.7B | $193.0B | $176.8B | $167.8B |
| P/E Ratio → | 14.23 | 16.56 | 35.30 | 62.83 | 54.84 | 161.48 | — | 19.63 | 13.99 | 17.32 | 16.21 |
| P/S Ratio | 1.79 | 2.18 | 1.92 | 1.67 | 2.08 | 4.77 | 3.39 | 3.12 | 2.97 | 2.82 | 2.74 |
| P/B Ratio | 1.54 | 1.79 | 1.67 | 1.31 | 1.59 | 3.15 | 2.27 | 2.11 | 3.27 | 3.37 | 3.22 |
| P/FCF | 16.80 | 20.39 | 20.54 | 30.29 | 161.52 | 161.76 | 61.62 | 125.50 | 17.93 | 17.84 | 18.03 |
| P/OCF | 9.35 | 11.35 | 12.58 | 15.03 | 28.68 | 57.80 | 29.09 | 32.87 | 12.33 | 12.60 | 11.52 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.59 | 2.40 | 2.08 | 2.57 | 5.40 | 4.07 | 3.72 | 3.25 | 3.21 | 3.02 |
| EV / EBITDA | 10.88 | 12.77 | 12.97 | 12.87 | 17.85 | 41.52 | 29.10 | 16.17 | 10.81 | 10.62 | 9.94 |
| EV / EBIT | 15.07 | 17.71 | 22.75 | 27.41 | 31.17 | 91.78 | — | 17.36 | 12.61 | 12.37 | 11.02 |
| EV / FCF | — | 24.28 | 25.62 | 37.74 | 199.61 | 183.06 | 73.96 | 149.51 | 19.63 | 20.28 | 19.88 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 37.8% | 37.8% | 35.8% | 33.4% | 34.2% | 33.1% | 32.9% | 39.6% | 44.9% | 45.0% | 46.1% |
| Operating Margin | 14.6% | 14.6% | 13.0% | 10.1% | 8.2% | 5.4% | 5.8% | 17.0% | 25.0% | 25.2% | 25.8% |
| Net Profit Margin | 13.1% | 13.1% | 5.4% | 2.6% | 3.8% | 3.0% | -4.4% | 15.9% | 21.2% | 16.3% | 16.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 11.3% | 11.3% | 4.6% | 2.1% | 3.0% | 2.0% | -2.9% | 14.1% | 25.2% | 19.2% | 19.6% |
| ROA | 6.3% | 6.3% | 2.5% | 1.2% | 1.5% | 1.0% | -1.4% | 7.6% | 13.0% | 9.6% | 10.4% |
| ROIC | 6.9% | 6.9% | 6.0% | 4.5% | 3.5% | 1.9% | 2.0% | 8.2% | 16.1% | 16.0% | 17.3% |
| ROCE | 8.5% | 8.5% | 7.1% | 5.2% | 3.9% | 2.1% | 2.2% | 9.7% | 18.9% | 18.3% | 19.5% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.39 | 0.39 | 0.47 | 0.45 | 0.48 | 0.57 | 0.64 | 0.46 | 0.39 | 0.55 | 0.43 |
| Debt / EBITDA | 2.34 | 2.34 | 2.93 | 3.53 | 4.38 | 6.65 | 6.82 | 2.94 | 1.17 | 1.52 | 1.19 |
| Net Debt / Equity | — | 0.34 | 0.41 | 0.32 | 0.37 | 0.41 | 0.46 | 0.40 | 0.31 | 0.46 | 0.33 |
| Net Debt / EBITDA | 2.05 | 2.05 | 2.57 | 2.54 | 3.41 | 4.83 | 4.86 | 2.60 | 0.94 | 1.28 | 0.92 |
| Debt / FCF | — | 3.89 | 5.08 | 7.45 | 38.09 | 21.29 | 12.35 | 24.01 | 1.70 | 2.44 | 1.84 |
| Interest Coverage | 7.62 | 7.62 | 6.66 | 4.62 | 4.41 | 2.57 | -0.15 | 11.96 | 21.68 | 28.20 | 43.00 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.71 | 0.71 | 0.73 | 1.05 | 1.00 | 1.08 | 1.32 | 0.89 | 0.94 | 0.81 | 1.01 |
| Quick Ratio | 0.65 | 0.65 | 0.67 | 0.99 | 0.94 | 1.04 | 1.26 | 0.84 | 0.86 | 0.74 | 0.92 |
| Cash Ratio | 0.17 | 0.17 | 0.17 | 0.46 | 0.40 | 0.51 | 0.67 | 0.17 | 0.23 | 0.21 | 0.27 |
| Asset Turnover | — | 0.48 | 0.47 | 0.43 | 0.41 | 0.33 | 0.32 | 0.36 | 0.60 | 0.58 | 0.60 |
| Inventory Turnover | 27.54 | 27.54 | 29.03 | 30.16 | 31.23 | 33.91 | 27.72 | 25.51 | 23.51 | 22.07 | 21.58 |
| Days Sales Outstanding | — | 51.09 | 50.85 | 50.62 | 55.83 | 72.37 | 70.94 | 81.18 | 57.32 | 57.15 | 59.48 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.0% | 0.9% | 0.8% | — | — | — | 0.7% | 1.3% | 1.4% | 1.6% | 1.5% |
| Payout Ratio | 14.5% | 14.5% | 27.5% | — | — | — | — | 26.2% | 20.0% | 27.2% | 24.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.0% | 6.0% | 2.8% | 1.6% | 1.8% | 0.6% | — | 5.1% | 7.1% | 5.8% | 6.2% |
| FCF Yield | 6.0% | 4.9% | 4.9% | 3.3% | 0.6% | 0.6% | 1.6% | 0.8% | 5.6% | 5.6% | 5.5% |
| Buyback Yield | 2.1% | 1.7% | 1.7% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 2.0% | 6.0% | 4.9% |
| Total Shareholder Yield | 3.1% | 2.6% | 2.5% | 0.0% | 0.0% | 0.0% | 0.7% | 1.5% | 3.5% | 7.6% | 6.4% |
| Shares Outstanding | — | $1.8B | $1.8B | $1.8B | $1.8B | $1.8B | $1.8B | $1.7B | $1.5B | $1.6B | $1.6B |
Linear television ecosystem erosion
Based on current market data, Disney trades at a 14.42x TTM P/E ratio, which appears to reflect a conglomerate discount as investors struggle to reconcile the high-growth potential of streaming with the mature, capital-intensive nature of the company's global theme park and legacy media operations.
The forward EV/EBITDA multiple of 7.61x suggests that the market is pricing in significant skepticism regarding the long-term profitability of the direct-to-consumer segment. This valuation warrants further investigation, as it may undervalue the unique pricing power inherent in the company's physical-to-digital intellectual property flywheel.
According to reported financial statements, the company's ROIC has remained suppressed, fluctuating between 1.3% and 2.4% over the last ten quarters, which suggests that the massive capital outlays for content production and park infrastructure are not yet generating returns that exceed the firm's cost of capital.
The persistent gap between invested capital and returns indicates that the company is currently in a heavy reinvestment phase. Investors should monitor whether the shift toward DTC profitability can eventually drive ROIC toward historical norms as content amortization cycles stabilize.
As indicated by the quarterly data, the company maintains a negative cash conversion cycle, reaching -51 days in 2026Q2, which suggests that Disney effectively utilizes its scale to delay payments to suppliers while maintaining relatively efficient collection cycles from its diverse revenue streams.
This negative CCC is a critical indicator of the company's structural leverage over its vendor base, particularly in the production and licensing segments. However, the volatility in DPO suggests that this efficiency is subject to the timing of large-scale content production cycles and seasonal park expenditures.
Based on the provided quarterly balance sheets, the current ratio has remained consistently below 1.0, settling at 0.65 in 2026Q2, which implies a relatively thin liquidity buffer relative to the company's substantial short-term obligations and ongoing capital expenditure requirements for its global entertainment operations.
While the company's access to capital markets appears robust, the reliance on operational cash flow to fund short-term needs leaves little room for error during periods of cyclical downturn. This liquidity profile warrants further investigation into the maturity schedule of existing debt obligations.
The P/E ratio is frequently misapplied to this business model because it fails to account for the non-cash impact of heavy content amortization, which significantly distorts reported net income and obscures the underlying cash-generating capacity of the company's integrated media and leisure assets.
Analysts should instead prioritize EV/EBITDA or P/FCF to better capture the true operational performance of the parks and streaming segments. Relying on P/E may lead to an inaccurate assessment of the company's earnings quality during periods of aggressive content investment.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying DIS stock.
The Walt Disney Company's current P/E ratio is 14.2x. The historical average is 35.2x. This places it at the 11th percentile of its historical range.
The Walt Disney Company's current EV/EBITDA is 10.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.8x.
The Walt Disney Company's return on equity (ROE) is 11.3%. The historical average is 10.0%.
Based on historical data, The Walt Disney Company is trading at a P/E of 14.2x. This is at the 11th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
The Walt Disney Company's current dividend yield is 1.02% with a payout ratio of 14.5%.
The Walt Disney Company has 37.8% gross margin and 14.6% operating margin. Operating margin between 10-20% is typical for established companies.
The Walt Disney Company's Debt/EBITDA ratio is 2.3x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.