Forensic Analysis · Hospitality & Leisure · as of Aug 7, 2026

Walt Disney Co (DIS)

A forensic read on Walt Disney Co built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

B · Sound & dependable

Forensic grade

Safe

Financial health

3.4

Distress distance

Clean

Earnings quality

Forensic signals

21.0

P / E (ttm)

11.3%

ROE

$181.1B

Market cap

1.43%

Dividend yield

3.4%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Walt Disney Co earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 3.4, placing it in the Safe zone. 4 forensic signals were flagged in its latest SEC filings, led by goodwill impairments.

What the filings flag

$6.4B

FY2020–FY2024

Goodwill impairments. Took $6.4B of goodwill writedowns across 3 years (FY2020 ($3.1B), FY2023 ($721M), FY2024 ($2.6B)) — about 67% of net income over the span. A large writedown means an acquisition turned out worth far less than was paid — a real mark against M&A discipline.

9.6%

FY2025

Return on invested capital. Return on invested capital is 9.6% in the latest fiscal year and rising from 5% — around its ~8% cost of capital, so growth is roughly value-neutral.

-0.3%/yr

FY2022–FY2025

Share count. Diluted share count changed -1% over the last 3 years to FY2025 (-0.3%/yr). Roughly flat — buybacks ($3.5B) are about offsetting stock comp ($1.4B), not shrinking the count. Per-share value isn't being meaningfully helped or hurt by the count.

-49%

FY2019→FY2020

Dividend — cut. The payout was CUT ~49% in FY2020 (from FY2019) and hasn't been restored since. It still returns some cash, but it is NOT the dependable, rising dividend an unbroken streak implies.

Key fundamentals

Latest Revenue$94.42B

Revenue Growth YoY+3.4%

Revenue CAGR (3yr)+4.5%

Net Margin13.1%

Free Cash Flow$10.08B

Return on Equity11.3%

Debt / Equity0.38x

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Data from SEC EDGAR public filings · metrics as of Aug 7, 2026. Forensic signals flag probability, not certainty.