# Walt Disney (DIS) Forecast Calculator

Interactive five-year financial forecast and DCF for Walt Disney. Adjust revenue growth, margins, capex, and WACC to update revenue, free cash flow, and enterprise value.

- Canonical: https://finamodel.com/companies/walt-disney/forecast
- Industry: Communications
- Forecast start year: 2026

## Historical data

| Year | Revenue | Free cash flow | EBITDA | Net income |
|---:|---:|---:|---:|---:|
| 2021 | 69607000000 |  -  | 19014000000 | 11054000000 |
| 2022 | 65388000000 |  -  | 13453000000 | -2864000000 |
| 2023 | 67418000000 |  -  | 12877000000 | 1995000000 |
| 2024 | 82722000000 |  -  | 17284000000 | 3145000000 |
| 2025 | 88898000000 | 4897000000 | 18232000000 | 2354000000 |

## Frequently asked questions

### What does The Walt Disney Company do?

The Walt Disney Company is a diversified global entertainment conglomerate that produces premium content, operates direct-to-consumer streaming services, broadcasts live sports, and operates world-renowned theme parks and cruise lines. It monetizes its core intellectual property across multiple touchpoints, including theatrical release, streaming, and consumer merchandise.

### How does Walt Disney generate revenue across its business segments?

Walt Disney generates revenue primarily through its Entertainment segment (streaming, linear networks, content sales), Experiences segment (parks, cruises, consumer products), and Sports segment (ESPN). Its business model is an IP-driven flywheel, leveraging core intellectual property across multiple platforms for monetization.

### What is Walt Disney's capital expenditure strategy and its impact on the financial model?

Walt Disney's capital expenditure is approximately 8-9% of revenue, with a significant portion (estimated 60/40 split) skewed towards growth capex. This is driven by major programs like the 10-year, $60 billion Experiences investment plan and Disney Cruise Line fleet expansion, impacting future asset growth.

### What is the primary purpose of a financial model for The Walt Disney Company?

A financial model for The Walt Disney Company aims to evaluate its equity valuation and cash flow generation capacity. It enables an analyst to assess whether the transition to a profitable Direct-to-Consumer streaming model, combined with the cash-generative Experiences segment, justifies its current market valuation.

### Can I download an Excel financial model for Walt Disney (DIS)?

Yes, an Excel financial model for The Walt Disney Company (DIS) is available for download. This general corporate model provides a forecast horizon from FY2026 to FY2030, allowing for detailed analysis of its financials.

### What is Walt Disney's typical working capital profile?

Walt Disney typically exhibits a negative net working capital profile. This is because the company often collects cash upfront for streaming subscriptions, park tickets, and cruise bookings, creating deferred revenue that provides a working capital advantage and funds operations.