Analysis of Solvency Ratios
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Walt Disney Co., solvency ratios
Based on: 10-K (reporting date: 2024-09-28), 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-10-01), 10-K (reporting date: 2021-10-02), 10-K (reporting date: 2020-10-03), 10-K (reporting date: 2019-09-28).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Walt Disney Co. debt to equity ratio improved from 2022 to 2023 and from 2023 to 2024. |
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Walt Disney Co. debt to equity ratio (including operating lease liability) improved from 2022 to 2023 and from 2023 to 2024. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Walt Disney Co. debt to capital ratio improved from 2022 to 2023 and from 2023 to 2024. |
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Walt Disney Co. debt to capital ratio (including operating lease liability) improved from 2022 to 2023 and from 2023 to 2024. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Walt Disney Co. debt to assets ratio improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024 not reaching 2022 level. |
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Walt Disney Co. debt to assets ratio (including operating lease liability) improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024 not reaching 2022 level. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Walt Disney Co. financial leverage ratio decreased from 2022 to 2023 and from 2023 to 2024. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Walt Disney Co. interest coverage ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level. |
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Walt Disney Co. fixed charge coverage ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level. |
Debt to Equity
Walt Disney Co., debt to equity calculation, comparison to benchmarks
| Sep 28, 2024 | Sep 30, 2023 | Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Short-term finance lease liabilities | 30) | 37) | 37) | 41) | 37) | 5) | |
| Current portion of borrowings | 6,845) | 4,330) | 3,070) | 5,866) | 5,711) | 8,857) | |
| Borrowings, excluding current portion | 38,970) | 42,101) | 45,299) | 48,540) | 52,917) | 38,129) | |
| Long-term finance lease liabilities | 160) | 206) | 219) | 246) | 271) | 146) | |
| Total debt | 46,005) | 46,674) | 48,625) | 54,693) | 58,936) | 47,137) | |
| Total Disney Shareholder’s equity | 100,696) | 99,277) | 95,008) | 88,553) | 83,583) | 88,877) | |
| Solvency Ratio | |||||||
| Debt to equity1 | 0.46 | 0.47 | 0.51 | 0.62 | 0.71 | 0.53 | |
| Benchmarks | |||||||
| Debt to Equity, Competitors2 | |||||||
| Alphabet Inc. | — | 0.05 | 0.06 | 0.06 | 0.07 | 0.02 | |
| Comcast Corp. | — | 1.17 | 1.17 | 0.99 | 1.15 | 1.24 | |
| Meta Platforms Inc. | — | 0.12 | 0.08 | 0.00 | 0.00 | 0.00 | |
| Netflix Inc. | — | 0.71 | 0.69 | 0.97 | 1.47 | 1.95 | |
| Debt to Equity, Sector | |||||||
| Media & Entertainment | — | 0.30 | 0.32 | 0.31 | 0.36 | 0.35 | |
| Debt to Equity, Industry | |||||||
| Communication Services | — | 0.62 | 0.65 | 0.65 | 0.67 | 0.62 | |
Based on: 10-K (reporting date: 2024-09-28), 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-10-01), 10-K (reporting date: 2021-10-02), 10-K (reporting date: 2020-10-03), 10-K (reporting date: 2019-09-28).
1 2024 Calculation
Debt to equity = Total debt ÷ Total Disney Shareholder’s equity
= 46,005 ÷ 100,696 = 0.46
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Walt Disney Co. debt to equity ratio improved from 2022 to 2023 and from 2023 to 2024. |
Debt to Equity (including Operating Lease Liability)
Walt Disney Co., debt to equity (including operating lease liability) calculation, comparison to benchmarks
| Sep 28, 2024 | Sep 30, 2023 | Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Short-term finance lease liabilities | 30) | 37) | 37) | 41) | 37) | 5) | |
| Current portion of borrowings | 6,845) | 4,330) | 3,070) | 5,866) | 5,711) | 8,857) | |
| Borrowings, excluding current portion | 38,970) | 42,101) | 45,299) | 48,540) | 52,917) | 38,129) | |
| Long-term finance lease liabilities | 160) | 206) | 219) | 246) | 271) | 146) | |
| Total debt | 46,005) | 46,674) | 48,625) | 54,693) | 58,936) | 47,137) | |
| Short-term lease liabilities, operating leases (included in Accounts payable and other accrued liabilities) | 744) | 740) | 614) | 637) | 747) | —) | |
| Long-term lease liabilities, operating leases (included in Other long-term liabilities) | 2,768) | 3,258) | 3,020) | 2,983) | 2,640) | —) | |
| Total debt (including operating lease liability) | 49,517) | 50,672) | 52,259) | 58,313) | 62,323) | 47,137) | |
| Total Disney Shareholder’s equity | 100,696) | 99,277) | 95,008) | 88,553) | 83,583) | 88,877) | |
| Solvency Ratio | |||||||
| Debt to equity (including operating lease liability)1 | 0.49 | 0.51 | 0.55 | 0.66 | 0.75 | 0.53 | |
| Benchmarks | |||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | |||||||
| Alphabet Inc. | — | 0.11 | 0.12 | 0.11 | 0.13 | 0.08 | |
| Comcast Corp. | — | 1.25 | 1.26 | 1.06 | 1.20 | 1.29 | |
| Meta Platforms Inc. | — | 0.25 | 0.22 | 0.12 | 0.09 | 0.11 | |
| Netflix Inc. | — | 0.82 | 0.81 | 1.14 | 1.67 | 2.16 | |
| Debt to Equity (including Operating Lease Liability), Sector | |||||||
| Media & Entertainment | — | 0.37 | 0.39 | 0.38 | 0.43 | 0.41 | |
| Debt to Equity (including Operating Lease Liability), Industry | |||||||
| Communication Services | — | 0.76 | 0.80 | 0.79 | 0.80 | 0.74 | |
Based on: 10-K (reporting date: 2024-09-28), 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-10-01), 10-K (reporting date: 2021-10-02), 10-K (reporting date: 2020-10-03), 10-K (reporting date: 2019-09-28).
1 2024 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total Disney Shareholder’s equity
= 49,517 ÷ 100,696 = 0.49
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Walt Disney Co. debt to equity ratio (including operating lease liability) improved from 2022 to 2023 and from 2023 to 2024. |
Debt to Capital
Walt Disney Co., debt to capital calculation, comparison to benchmarks
| Sep 28, 2024 | Sep 30, 2023 | Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Short-term finance lease liabilities | 30) | 37) | 37) | 41) | 37) | 5) | |
| Current portion of borrowings | 6,845) | 4,330) | 3,070) | 5,866) | 5,711) | 8,857) | |
| Borrowings, excluding current portion | 38,970) | 42,101) | 45,299) | 48,540) | 52,917) | 38,129) | |
| Long-term finance lease liabilities | 160) | 206) | 219) | 246) | 271) | 146) | |
| Total debt | 46,005) | 46,674) | 48,625) | 54,693) | 58,936) | 47,137) | |
| Total Disney Shareholder’s equity | 100,696) | 99,277) | 95,008) | 88,553) | 83,583) | 88,877) | |
| Total capital | 146,701) | 145,951) | 143,633) | 143,246) | 142,519) | 136,014) | |
| Solvency Ratio | |||||||
| Debt to capital1 | 0.31 | 0.32 | 0.34 | 0.38 | 0.41 | 0.35 | |
| Benchmarks | |||||||
| Debt to Capital, Competitors2 | |||||||
| Alphabet Inc. | — | 0.05 | 0.06 | 0.06 | 0.06 | 0.02 | |
| Comcast Corp. | — | 0.54 | 0.54 | 0.50 | 0.53 | 0.55 | |
| Meta Platforms Inc. | — | 0.11 | 0.08 | 0.00 | 0.00 | 0.00 | |
| Netflix Inc. | — | 0.41 | 0.41 | 0.49 | 0.60 | 0.66 | |
| Debt to Capital, Sector | |||||||
| Media & Entertainment | — | 0.23 | 0.24 | 0.24 | 0.27 | 0.26 | |
| Debt to Capital, Industry | |||||||
| Communication Services | — | 0.38 | 0.39 | 0.40 | 0.40 | 0.38 | |
Based on: 10-K (reporting date: 2024-09-28), 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-10-01), 10-K (reporting date: 2021-10-02), 10-K (reporting date: 2020-10-03), 10-K (reporting date: 2019-09-28).
1 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= 46,005 ÷ 146,701 = 0.31
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Walt Disney Co. debt to capital ratio improved from 2022 to 2023 and from 2023 to 2024. |
Debt to Capital (including Operating Lease Liability)
Walt Disney Co., debt to capital (including operating lease liability) calculation, comparison to benchmarks
| Sep 28, 2024 | Sep 30, 2023 | Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Short-term finance lease liabilities | 30) | 37) | 37) | 41) | 37) | 5) | |
| Current portion of borrowings | 6,845) | 4,330) | 3,070) | 5,866) | 5,711) | 8,857) | |
| Borrowings, excluding current portion | 38,970) | 42,101) | 45,299) | 48,540) | 52,917) | 38,129) | |
| Long-term finance lease liabilities | 160) | 206) | 219) | 246) | 271) | 146) | |
| Total debt | 46,005) | 46,674) | 48,625) | 54,693) | 58,936) | 47,137) | |
| Short-term lease liabilities, operating leases (included in Accounts payable and other accrued liabilities) | 744) | 740) | 614) | 637) | 747) | —) | |
| Long-term lease liabilities, operating leases (included in Other long-term liabilities) | 2,768) | 3,258) | 3,020) | 2,983) | 2,640) | —) | |
| Total debt (including operating lease liability) | 49,517) | 50,672) | 52,259) | 58,313) | 62,323) | 47,137) | |
| Total Disney Shareholder’s equity | 100,696) | 99,277) | 95,008) | 88,553) | 83,583) | 88,877) | |
| Total capital (including operating lease liability) | 150,213) | 149,949) | 147,267) | 146,866) | 145,906) | 136,014) | |
| Solvency Ratio | |||||||
| Debt to capital (including operating lease liability)1 | 0.33 | 0.34 | 0.35 | 0.40 | 0.43 | 0.35 | |
| Benchmarks | |||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | |||||||
| Alphabet Inc. | — | 0.10 | 0.10 | 0.10 | 0.11 | 0.07 | |
| Comcast Corp. | — | 0.56 | 0.56 | 0.52 | 0.55 | 0.56 | |
| Meta Platforms Inc. | — | 0.20 | 0.18 | 0.10 | 0.08 | 0.10 | |
| Netflix Inc. | — | 0.45 | 0.45 | 0.53 | 0.63 | 0.68 | |
| Debt to Capital (including Operating Lease Liability), Sector | |||||||
| Media & Entertainment | — | 0.27 | 0.28 | 0.28 | 0.30 | 0.29 | |
| Debt to Capital (including Operating Lease Liability), Industry | |||||||
| Communication Services | — | 0.43 | 0.44 | 0.44 | 0.44 | 0.43 | |
Based on: 10-K (reporting date: 2024-09-28), 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-10-01), 10-K (reporting date: 2021-10-02), 10-K (reporting date: 2020-10-03), 10-K (reporting date: 2019-09-28).
1 2024 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 49,517 ÷ 150,213 = 0.33
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Walt Disney Co. debt to capital ratio (including operating lease liability) improved from 2022 to 2023 and from 2023 to 2024. |
Debt to Assets
Walt Disney Co., debt to assets calculation, comparison to benchmarks
| Sep 28, 2024 | Sep 30, 2023 | Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Short-term finance lease liabilities | 30) | 37) | 37) | 41) | 37) | 5) | |
| Current portion of borrowings | 6,845) | 4,330) | 3,070) | 5,866) | 5,711) | 8,857) | |
| Borrowings, excluding current portion | 38,970) | 42,101) | 45,299) | 48,540) | 52,917) | 38,129) | |
| Long-term finance lease liabilities | 160) | 206) | 219) | 246) | 271) | 146) | |
| Total debt | 46,005) | 46,674) | 48,625) | 54,693) | 58,936) | 47,137) | |
| Total assets | 196,219) | 205,579) | 203,631) | 203,609) | 201,549) | 193,984) | |
| Solvency Ratio | |||||||
| Debt to assets1 | 0.23 | 0.23 | 0.24 | 0.27 | 0.29 | 0.24 | |
| Benchmarks | |||||||
| Debt to Assets, Competitors2 | |||||||
| Alphabet Inc. | — | 0.04 | 0.04 | 0.04 | 0.05 | 0.02 | |
| Comcast Corp. | — | 0.37 | 0.37 | 0.34 | 0.38 | 0.39 | |
| Meta Platforms Inc. | — | 0.08 | 0.06 | 0.00 | 0.00 | 0.00 | |
| Netflix Inc. | — | 0.30 | 0.30 | 0.35 | 0.42 | 0.43 | |
| Debt to Assets, Sector | |||||||
| Media & Entertainment | — | 0.17 | 0.17 | 0.17 | 0.20 | 0.19 | |
| Debt to Assets, Industry | |||||||
| Communication Services | — | 0.26 | 0.27 | 0.27 | 0.27 | 0.26 | |
Based on: 10-K (reporting date: 2024-09-28), 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-10-01), 10-K (reporting date: 2021-10-02), 10-K (reporting date: 2020-10-03), 10-K (reporting date: 2019-09-28).
1 2024 Calculation
Debt to assets = Total debt ÷ Total assets
= 46,005 ÷ 196,219 = 0.23
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Walt Disney Co. debt to assets ratio improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024 not reaching 2022 level. |
Debt to Assets (including Operating Lease Liability)
Walt Disney Co., debt to assets (including operating lease liability) calculation, comparison to benchmarks
| Sep 28, 2024 | Sep 30, 2023 | Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Short-term finance lease liabilities | 30) | 37) | 37) | 41) | 37) | 5) | |
| Current portion of borrowings | 6,845) | 4,330) | 3,070) | 5,866) | 5,711) | 8,857) | |
| Borrowings, excluding current portion | 38,970) | 42,101) | 45,299) | 48,540) | 52,917) | 38,129) | |
| Long-term finance lease liabilities | 160) | 206) | 219) | 246) | 271) | 146) | |
| Total debt | 46,005) | 46,674) | 48,625) | 54,693) | 58,936) | 47,137) | |
| Short-term lease liabilities, operating leases (included in Accounts payable and other accrued liabilities) | 744) | 740) | 614) | 637) | 747) | —) | |
| Long-term lease liabilities, operating leases (included in Other long-term liabilities) | 2,768) | 3,258) | 3,020) | 2,983) | 2,640) | —) | |
| Total debt (including operating lease liability) | 49,517) | 50,672) | 52,259) | 58,313) | 62,323) | 47,137) | |
| Total assets | 196,219) | 205,579) | 203,631) | 203,609) | 201,549) | 193,984) | |
| Solvency Ratio | |||||||
| Debt to assets (including operating lease liability)1 | 0.25 | 0.25 | 0.26 | 0.29 | 0.31 | 0.24 | |
| Benchmarks | |||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | |||||||
| Alphabet Inc. | — | 0.07 | 0.08 | 0.08 | 0.09 | 0.06 | |
| Comcast Corp. | — | 0.39 | 0.39 | 0.37 | 0.40 | 0.41 | |
| Meta Platforms Inc. | — | 0.17 | 0.15 | 0.09 | 0.07 | 0.08 | |
| Netflix Inc. | — | 0.35 | 0.35 | 0.41 | 0.47 | 0.48 | |
| Debt to Assets (including Operating Lease Liability), Sector | |||||||
| Media & Entertainment | — | 0.21 | 0.22 | 0.21 | 0.23 | 0.22 | |
| Debt to Assets (including Operating Lease Liability), Industry | |||||||
| Communication Services | — | 0.32 | 0.33 | 0.33 | 0.33 | 0.31 | |
Based on: 10-K (reporting date: 2024-09-28), 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-10-01), 10-K (reporting date: 2021-10-02), 10-K (reporting date: 2020-10-03), 10-K (reporting date: 2019-09-28).
1 2024 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 49,517 ÷ 196,219 = 0.25
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Walt Disney Co. debt to assets ratio (including operating lease liability) improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024 not reaching 2022 level. |
Financial Leverage
Walt Disney Co., financial leverage calculation, comparison to benchmarks
| Sep 28, 2024 | Sep 30, 2023 | Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Total assets | 196,219) | 205,579) | 203,631) | 203,609) | 201,549) | 193,984) | |
| Total Disney Shareholder’s equity | 100,696) | 99,277) | 95,008) | 88,553) | 83,583) | 88,877) | |
| Solvency Ratio | |||||||
| Financial leverage1 | 1.95 | 2.07 | 2.14 | 2.30 | 2.41 | 2.18 | |
| Benchmarks | |||||||
| Financial Leverage, Competitors2 | |||||||
| Alphabet Inc. | — | 1.42 | 1.43 | 1.43 | 1.44 | 1.37 | |
| Comcast Corp. | — | 3.20 | 3.18 | 2.87 | 3.03 | 3.18 | |
| Meta Platforms Inc. | — | 1.50 | 1.48 | 1.33 | 1.24 | 1.32 | |
| Netflix Inc. | — | 2.37 | 2.34 | 2.81 | 3.55 | 4.48 | |
| Financial Leverage, Sector | |||||||
| Media & Entertainment | — | 1.80 | 1.83 | 1.82 | 1.85 | 1.87 | |
| Financial Leverage, Industry | |||||||
| Communication Services | — | 2.39 | 2.45 | 2.43 | 2.45 | 2.42 | |
Based on: 10-K (reporting date: 2024-09-28), 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-10-01), 10-K (reporting date: 2021-10-02), 10-K (reporting date: 2020-10-03), 10-K (reporting date: 2019-09-28).
1 2024 Calculation
Financial leverage = Total assets ÷ Total Disney Shareholder’s equity
= 196,219 ÷ 100,696 = 1.95
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Walt Disney Co. financial leverage ratio decreased from 2022 to 2023 and from 2023 to 2024. |
Interest Coverage
Walt Disney Co., interest coverage calculation, comparison to benchmarks
| Sep 28, 2024 | Sep 30, 2023 | Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Net income (loss) attributable to The Walt Disney Company (Disney) | 4,972) | 2,354) | 3,145) | 1,995) | (2,864) | 11,054) | |
| Add: Net income attributable to noncontrolling interest | 801) | 1,036) | 360) | 512) | 390) | 530) | |
| Less: Income (loss) from discontinued operations, net of income tax | —) | —) | (48) | (29) | (32) | 671) | |
| Add: Income tax expense | 1,796) | 1,379) | 1,732) | 25) | 699) | 3,031) | |
| Add: Interest expense | 2,070) | 1,973) | 1,549) | 1,546) | 1,647) | 1,246) | |
| Earnings before interest and tax (EBIT) | 9,639) | 6,742) | 6,834) | 4,107) | (96) | 15,190) | |
| Solvency Ratio | |||||||
| Interest coverage1 | 4.66 | 3.42 | 4.41 | 2.66 | -0.06 | 12.19 | |
| Benchmarks | |||||||
| Interest Coverage, Competitors2 | |||||||
| Alphabet Inc. | — | 279.30 | 200.80 | 263.24 | 357.16 | 397.25 | |
| Comcast Corp. | — | 6.01 | 3.38 | 5.46 | 4.07 | 4.72 | |
| Meta Platforms Inc. | — | 107.34 | 164.74 | 3,153.27 | 2,371.00 | 1,241.60 | |
| Netflix Inc. | — | 9.87 | 8.45 | 8.63 | 5.17 | 4.29 | |
| Interest Coverage, Sector | |||||||
| Media & Entertainment | — | 22.91 | 18.95 | 24.80 | 14.53 | 15.86 | |
| Interest Coverage, Industry | |||||||
| Communication Services | — | 10.21 | 8.50 | 11.90 | 6.51 | 7.88 | |
Based on: 10-K (reporting date: 2024-09-28), 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-10-01), 10-K (reporting date: 2021-10-02), 10-K (reporting date: 2020-10-03), 10-K (reporting date: 2019-09-28).
1 2024 Calculation
Interest coverage = EBIT ÷ Interest expense
= 9,639 ÷ 2,070 = 4.66
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Walt Disney Co. interest coverage ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level. |
Fixed Charge Coverage
Walt Disney Co., fixed charge coverage calculation, comparison to benchmarks
| Sep 28, 2024 | Sep 30, 2023 | Oct 1, 2022 | Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Net income (loss) attributable to The Walt Disney Company (Disney) | 4,972) | 2,354) | 3,145) | 1,995) | (2,864) | 11,054) | |
| Add: Net income attributable to noncontrolling interest | 801) | 1,036) | 360) | 512) | 390) | 530) | |
| Less: Income (loss) from discontinued operations, net of income tax | —) | —) | (48) | (29) | (32) | 671) | |
| Add: Income tax expense | 1,796) | 1,379) | 1,732) | 25) | 699) | 3,031) | |
| Add: Interest expense | 2,070) | 1,973) | 1,549) | 1,546) | 1,647) | 1,246) | |
| Earnings before interest and tax (EBIT) | 9,639) | 6,742) | 6,834) | 4,107) | (96) | 15,190) | |
| Add: Operating lease cost | 926) | 820) | 796) | 853) | 899) | 1,100) | |
| Earnings before fixed charges and tax | 10,565) | 7,562) | 7,630) | 4,960) | 803) | 16,290) | |
| Interest expense | 2,070) | 1,973) | 1,549) | 1,546) | 1,647) | 1,246) | |
| Operating lease cost | 926) | 820) | 796) | 853) | 899) | 1,100) | |
| Fixed charges | 2,996) | 2,793) | 2,345) | 2,399) | 2,546) | 2,346) | |
| Solvency Ratio | |||||||
| Fixed charge coverage1 | 3.53 | 2.71 | 3.25 | 2.07 | 0.32 | 6.94 | |
| Benchmarks | |||||||
| Fixed Charge Coverage, Competitors2 | |||||||
| Alphabet Inc. | — | 18.67 | 18.42 | 25.06 | 16.92 | 17.10 | |
| Comcast Corp. | — | 4.87 | 2.82 | 4.48 | 3.47 | 4.00 | |
| Meta Platforms Inc. | — | 19.69 | 15.18 | 31.41 | 24.62 | 22.41 | |
| Netflix Inc. | — | 5.64 | 5.00 | 5.46 | 3.65 | 2.92 | |
| Fixed Charge Coverage, Sector | |||||||
| Media & Entertainment | — | 10.79 | 9.06 | 12.40 | 7.98 | 8.67 | |
| Fixed Charge Coverage, Industry | |||||||
| Communication Services | — | 5.36 | 4.25 | 5.95 | 3.73 | 4.58 | |
Based on: 10-K (reporting date: 2024-09-28), 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-10-01), 10-K (reporting date: 2021-10-02), 10-K (reporting date: 2020-10-03), 10-K (reporting date: 2019-09-28).
1 2024 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 10,565 ÷ 2,996 = 3.53
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Walt Disney Co. fixed charge coverage ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level. |