Stock Analysis on Net

Walt Disney Co. (NYSE:DIS) 

Balance Sheet: Assets
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Walt Disney Co., consolidated balance sheet: assets (quarterly data)

US$ in millions

Microsoft Excel
Mar 29, 2025 Dec 28, 2024 Sep 28, 2024 Jun 29, 2024 Mar 30, 2024 Dec 30, 2023 Sep 30, 2023 Jul 1, 2023 Apr 1, 2023 Dec 31, 2022 Oct 1, 2022 Jul 2, 2022 Apr 2, 2022 Jan 1, 2022 Oct 2, 2021 Jul 3, 2021 Apr 3, 2021 Jan 2, 2021 Oct 3, 2020 Jun 27, 2020 Mar 28, 2020 Dec 28, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019 Dec 29, 2018
Cash and cash equivalents 5,852 5,486 6,002 5,954 6,635 7,192 14,182 11,458 10,399 8,470 11,615 12,959 13,272 14,444 15,959 16,070 15,890 17,068 17,914 23,115 14,339 6,833 5,418 6,728 10,108 4,455
Receivables, net 12,571 13,767 12,729 12,966 12,026 14,115 12,330 13,112 12,770 13,993 12,652 13,685 13,746 14,882 13,367 13,355 12,533 14,051 12,708 12,622 14,532 17,100 15,481 15,673 14,593 10,123
Inventories 1,999 2,018 2,022 1,984 1,948 1,954 1,963 1,900 1,848 1,830 1,742 1,590 1,428 1,345 1,331 1,344 1,406 1,480 1,583 1,559 1,531 1,571 1,649 1,516 1,445 1,357
Content advances 1,063 1,157 2,097 1,992 1,921 1,409 3,002 2,369 1,872 1,300 1,890 1,902 1,796 1,125 2,183 2,367 2,204 1,423 2,171 3,135 1,869 1,334 4,597 4,526 5,408 824
Other current assets 1,250 1,239 2,391 2,597 2,106 1,301 1,286 1,335 1,374 1,319 1,199 1,286 1,185 1,117 817 830 844 852 875 899 1,003 938 979 1,035 1,257 778
Assets held for sale 1,892 1,466
Current assets 22,735 23,667 25,241 25,493 24,636 25,971 32,763 30,174 28,263 26,912 29,098 31,422 31,427 32,913 33,657 33,966 32,877 34,874 35,251 41,330 33,274 27,776 28,124 31,370 34,277 17,537
Produced and licensed content costs 31,820 32,505 32,312 32,799 32,590 32,725 33,591 34,607 36,949 36,266 35,777 34,077 32,349 30,669 29,549 27,889 26,858 25,929 25,022 25,560 26,757 26,539 22,810 22,552 24,353 8,177
Investments 8,794 8,902 4,459 4,632 3,007 3,084 3,080 3,062 3,387 3,169 3,218 3,236 3,356 3,549 3,935 4,045 4,309 4,037 3,903 3,611 3,180 3,312 3,224 3,872 4,080 2,970
Attractions, buildings and equipment 79,721 78,328 76,674 73,366 72,173 72,096 70,090 69,819 69,695 68,253 66,998 65,599 65,247 65,257 64,892 64,023 63,037 63,017 62,111 61,130 60,929 59,910 58,589 57,457 57,991 55,385
Projects in progress 5,740 4,581 4,728 6,223 6,243 5,618 6,285 5,689 5,175 5,430 4,814 5,956 5,327 4,808 4,521 4,856 4,891 4,547 4,449 4,380 3,916 4,023 4,264 4,853 4,984 4,336
Land 1,166 1,129 1,145 1,172 1,174 1,182 1,176 1,181 1,161 1,158 1,140 1,117 1,126 1,121 1,131 1,077 1,075 1,079 1,035 1,020 1,019 1,019 1,165 1,170 1,174 1,145
Parks, resorts and other property, at cost 86,627 84,038 82,547 80,761 79,590 78,896 77,551 76,689 76,031 74,841 72,952 72,672 71,700 71,186 70,544 69,956 69,003 68,643 67,595 66,530 65,864 64,952 64,018 63,480 64,149 60,866
Accumulated depreciation (47,532) (45,898) (45,506) (44,720) (44,065) (43,575) (42,610) (42,112) (41,452) (40,641) (39,356) (39,089) (38,783) (38,505) (37,920) (37,579) (36,866) (36,380) (35,517) (34,639) (33,713) (33,057) (32,415) (32,088) (33,132) (31,069)
Parks, resorts and other property, net 39,095 38,140 37,041 36,041 35,525 35,321 34,941 34,577 34,579 34,200 33,596 33,583 32,917 32,681 32,624 32,377 32,137 32,263 32,078 31,891 32,151 31,895 31,603 31,392 31,017 29,797
Intangible assets, net 10,006 10,372 10,739 11,107 11,474 12,639 13,061 13,478 13,887 14,347 14,837 15,334 15,875 16,574 17,115 17,601 18,123 18,642 19,173 19,589 22,037 22,669 23,215 25,114 26,985 6,747
Goodwill 73,313 73,312 73,326 73,914 73,914 77,066 77,067 77,881 77,878 77,867 77,897 77,945 78,019 78,052 78,071 77,835 77,861 77,800 77,689 77,233 80,320 80,314 80,293 77,801 75,057 31,289
Noncurrent assets held for sale 12,591 13,182
Other assets 10,070 10,148 13,101 13,786 13,964 10,968 11,076 10,004 9,915 9,363 9,208 8,477 8,510 8,873 8,658 8,508 8,085 8,343 8,433 8,435 8,575 8,443 4,715 4,783 5,391 3,424
Long-term assets 173,098 173,379 170,978 172,279 170,474 171,803 172,816 173,609 176,595 175,212 174,533 172,652 171,026 170,398 169,952 168,255 167,373 167,014 166,298 166,319 173,020 173,172 165,860 178,105 180,065 82,404
Total assets 195,833 197,046 196,219 197,772 195,110 197,774 205,579 203,783 204,858 202,124 203,631 204,074 202,453 203,311 203,609 202,221 200,250 201,888 201,549 207,649 206,294 200,948 193,984 209,475 214,342 99,941

Based on: 10-Q (reporting date: 2025-03-29), 10-Q (reporting date: 2024-12-28), 10-K (reporting date: 2024-09-28), 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-Q (reporting date: 2023-12-30), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-Q (reporting date: 2022-01-01), 10-K (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-Q (reporting date: 2021-01-02), 10-K (reporting date: 2020-10-03), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-Q (reporting date: 2019-12-28), 10-K (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30), 10-Q (reporting date: 2018-12-29).


Cash and Cash Equivalents
Cash and cash equivalents exhibit significant fluctuation across the periods. There is a notable increase from $4.5 billion in late 2018 to a peak of $23.1 billion by mid-2020, likely reflecting a liquidity buildup during early 2020. This is followed by a gradual decline through late 2022, dipping to $8.5 billion, before a rebound occurs in 2023 and 2024, though values remain below the mid-2020 peak.
Receivables, Net
Receivables show variability but generally maintain a range between $12 billion to $17 billion, with peaks around the end of 2019 and subsequent declines post-2020. The values demonstrate moderate fluctuations without a clear long-term upward or downward trend.
Inventories
Inventories steadily increase over the observed periods, moving from approximately $1.4 billion to just under $2.0 billion by late 2024. This consistent rise suggests a buildup in stock levels or content-related inventories over time.
Content Advances
Content advances fluctuate extensively, with a significant spike in early 2019, reaching over $5.4 billion, followed by a decline to around $1.3 billion by late 2019. Subsequent periods see oscillations between approximately $1 billion and $3 billion, indicating variability in content investment or licensing advances.
Other Current Assets
Other current assets increase overall from about $778 million to over $2 billion in early 2023, then decline back toward $1.2 billion by early 2025. This pattern indicates a temporary rise in miscellaneous current assets possibly linked to specific operational changes.
Current Assets
Current assets peak at over $41 billion during mid-2020 but show a decreasing trend afterward, reaching approximately $22.7 billion by early 2025. This decline aligns with the reduction in cash and other liquid assets over the same period.
Produced and Licensed Content Costs
Costs related to produced and licensed content steadily rise from $8.2 billion at the end of 2018 to a high of around $36.3 billion by mid-2023, with a slight decline toward late 2024. This trend reflects increasing investment in content production and licensing over the years.
Investments
Investment levels remain relatively stable between $3 billion and $4 billion until late 2023 when they surge sharply to $8.9 billion, maintaining near those elevated levels. This jump may indicate a strategic increase in long-term investments or portfolio expansion.
Attractions, Buildings, and Equipment
There is a consistent upward trajectory in assets related to physical properties and equipment, beginning near $55 billion and reaching close to $80 billion by the end of 2024. This growth points to ongoing capital expenditures and expansion in physical infrastructure.
Projects in Progress
Projects in progress fluctuate but generally trend upward from $4.3 billion to approximately $6.3 billion around mid-2023, followed by variability without a clear growth pattern. This suggests active but irregular capital project development.
Land
The value of land holdings remains relatively stable across the periods, fluctuating slightly near $1.1 billion, indicating no significant acquisitions or disposals of land assets.
Parks, Resorts, and Other Property, at Cost
This asset category consistently increases from roughly $60.9 billion to $86.6 billion, underscoring ongoing investment and expansion in park and resort properties.
Accumulated Depreciation
Accumulated depreciation steadily increases in absolute terms (negative values growing larger), moving from approximately -$31.1 billion to -$47.5 billion, which is consistent with asset aging and ongoing depreciation charges aligned with the growth in fixed assets.
Parks, Resorts, and Other Property, Net
Net property assets show a moderate increasing trend from about $29.8 billion to $39.1 billion, reflecting capital investments exceeding depreciation over time.
Intangible Assets, Net
Intangible assets decline steadily from $6.7 billion at the end of 2018 to around $10.0 billion by early 2025, indicating amortization or impairment impacts exceeding additions during the period.
Goodwill
Goodwill rises sharply from $31 billion to about $80 billion by early 2019, then gradually declines to approximately $73 billion by 2025. This pattern likely reflects acquisitions and occasional impairments or adjustments.
Noncurrent Assets Held for Sale
The recorded value is significant only in early 2019, at roughly $13 billion, and is absent thereafter, indicating the sale or reclassification of significant noncurrent assets during that period.
Other Assets
Other noncurrent assets increase from $3.4 billion to a peak near $14 billion by early 2024 before falling back to around $10 billion, signaling fluctuating holdings of miscellaneous long-term assets.
Long-Term Assets
Long-term assets approximately double from $82.4 billion to $173 billion through mid-2022 and then stabilize, showing substantial long-term asset accumulation mostly completed before 2022.
Total Assets
Total assets more than double from nearly $100 billion in 2018 to a peak above $214 billion in early 2019. Thereafter, assets decline gradually and stabilize around $195 billion towards the end of the period, reflecting stabilization after a phase of substantial asset increases likely due to acquisitions or revaluations.

Assets: Selected Items


Current Assets: Selected Items