Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.

Short-term Activity Ratios (Summary)
Inventory Turnover
Receivables Turnover
Payables Turnover
Working Capital Turnover
Average Inventory Processing Period
Average Receivable Collection Period
Operating Cycle
Average Payables Payment Period
Cash Conversion Cycle

Walt Disney Co., short-term (operating) activity ratios

	Sep 28, 2024	Sep 30, 2023	Oct 1, 2022	Oct 2, 2021	Oct 3, 2020	Sep 28, 2019
Turnover Ratios
Inventory turnover	29.03	30.16	31.23	33.91	27.72	25.48
Receivables turnover	7.18	7.21	6.54	5.04	5.15	4.49
Payables turnover	3.97	3.91	3.36	2.76	3.33	3.05
Working capital turnover	—	54.74	3,308.88	26.13	7.58	—
Average No. Days
Average inventory processing period	13	12	12	11	13	14
Add: Average receivable collection period	51	51	56	72	71	81
Operating cycle	64	63	68	83	84	95
Less: Average payables payment period	92	93	109	132	110	120
Cash conversion cycle	-28	-30	-41	-49	-26	-25

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).

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Short-term activity ratio	Description	The company
Inventory turnover	An activity ratio calculated as cost of goods sold divided by inventory.	Walt Disney Co. inventory turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024.
Receivables turnover	An activity ratio equal to revenue divided by receivables.	Walt Disney Co. receivables turnover ratio improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024.
Payables turnover	An activity ratio calculated as cost of goods sold divided by payables.	Walt Disney Co. payables turnover ratio increased from 2022 to 2023 and from 2023 to 2024.

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Short-term activity ratio	Description	The company
Average inventory processing period	An activity ratio equal to the number of days in the period divided by inventory turnover over the period.
Average receivable collection period	An activity ratio equal to the number of days in the period divided by receivables turnover.
Operating cycle	Equal to average inventory processing period plus average receivables collection period.	Walt Disney Co. operating cycle improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024.
Average payables payment period	An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period.	Walt Disney Co. number of days of payables outstanding decreased from 2022 to 2023 and from 2023 to 2024.
Cash conversion cycle	A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period.	Walt Disney Co. cash conversion cycle deteriorated from 2022 to 2023 and from 2023 to 2024.

Walt Disney Co., inventory turnover 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)
Cost of revenues, exclusive of depreciation and amortization	58,698)	59,201)	54,401)	45,131)	43,880)	42,018)
Inventories	2,022)	1,963)	1,742)	1,331)	1,583)	1,649)
Short-term Activity Ratio
Inventory turnover¹	29.03	30.16	31.23	33.91	27.72	25.48
Benchmarks
Inventory Turnover, Sector
Media & Entertainment	—	140.08	151.11	176.18	122.36	105.25
Inventory Turnover, Industry
Communication Services	—	52.08	44.81	39.09	36.78	47.97

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
Inventory turnover = Cost of revenues, exclusive of depreciation and amortization ÷ Inventories
= 58,698 ÷ 2,022 = 29.03

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Short-term activity ratio	Description	The company
Inventory turnover	An activity ratio calculated as cost of goods sold divided by inventory.	Walt Disney Co. inventory turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024.

Walt Disney Co., receivables turnover 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)
Revenues	91,361)	88,898)	82,722)	67,418)	65,388)	69,570)
Receivables, net	12,729)	12,330)	12,652)	13,367)	12,708)	15,481)
Short-term Activity Ratio
Receivables turnover¹	7.18	7.21	6.54	5.04	5.15	4.49
Benchmarks
Receivables Turnover, Competitors²
Alphabet Inc.	—	6.41	7.03	6.55	5.90	6.39
Comcast Corp.	—	8.80	9.58	9.69	9.03	9.65
Meta Platforms Inc.	—	8.34	8.66	8.40	7.58	7.43
Netflix Inc.	—	26.20	31.97	36.92	40.92	44.36
Receivables Turnover, Sector
Media & Entertainment	—	7.50	7.94	7.41	6.90	6.95
Receivables Turnover, Industry
Communication Services	—	7.76	8.07	7.77	7.20	7.04

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
Receivables turnover = Revenues ÷ Receivables, net
= 91,361 ÷ 12,729 = 7.18

² Click competitor name to see calculations.

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Short-term activity ratio	Description	The company
Receivables turnover	An activity ratio equal to revenue divided by receivables.	Walt Disney Co. receivables turnover ratio improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024.

Walt Disney Co., payables turnover 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)
Cost of revenues, exclusive of depreciation and amortization	58,698)	59,201)	54,401)	45,131)	43,880)	42,018)
Accounts and accrued payables	14,796)	15,125)	16,205)	16,357)	13,183)	13,778)
Short-term Activity Ratio
Payables turnover¹	3.97	3.91	3.36	2.76	3.33	3.05
Benchmarks
Payables Turnover, Competitors²
Alphabet Inc.	—	17.79	24.61	18.38	15.16	12.93
Comcast Corp.	—	2.96	3.05	3.09	2.91	3.18
Meta Platforms Inc.	—	5.35	5.06	5.55	12.54	9.37
Netflix Inc.	—	26.38	28.54	20.70	23.28	18.45
Payables Turnover, Sector
Media & Entertainment	—	6.76	6.66	5.90	6.03	5.39
Payables Turnover, Industry
Communication Services	—	4.91	4.73	4.79	4.63	4.48

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
Payables turnover = Cost of revenues, exclusive of depreciation and amortization ÷ Accounts and accrued payables
= 58,698 ÷ 14,796 = 3.97

² Click competitor name to see calculations.

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Short-term activity ratio	Description	The company
Payables turnover	An activity ratio calculated as cost of goods sold divided by payables.	Walt Disney Co. payables turnover ratio increased from 2022 to 2023 and from 2023 to 2024.

Walt Disney Co., working capital turnover 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)
Current assets	25,241)	32,763)	29,098)	33,657)	35,251)	28,124)
Less: Current liabilities	34,599)	31,139)	29,073)	31,077)	26,628)	31,341)
Working capital	(9,358)	1,624)	25)	2,580)	8,623)	(3,217)

Revenues	91,361)	88,898)	82,722)	67,418)	65,388)	69,570)
Short-term Activity Ratio
Working capital turnover¹	—	54.74	3,308.88	26.13	7.58	—
Benchmarks
Working Capital Turnover, Competitors²
Alphabet Inc.	—	3.43	2.96	2.08	1.55	1.51
Comcast Corp.	—	—	—	—	—	—
Meta Platforms Inc.	—	2.53	3.59	2.59	1.42	1.38
Netflix Inc.	—	31.89	23.67	—	12.78	—
Working Capital Turnover, Sector
Media & Entertainment	—	5.30	5.15	3.53	2.48	2.88
Working Capital Turnover, Industry
Communication Services	—	10.57	11.82	7.57	4.32	6.31

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
Working capital turnover = Revenues ÷ Working capital
= 91,361 ÷ -9,358 = —

² Click competitor name to see calculations.

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Walt Disney Co., average inventory processing period 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
Inventory turnover	29.03	30.16	31.23	33.91	27.72	25.48
Short-term Activity Ratio (no. days)
Average inventory processing period¹	13	12	12	11	13	14
Benchmarks (no. days)
Average Inventory Processing Period, Sector
Media & Entertainment	—	3	2	2	3	3
Average Inventory Processing Period, Industry
Communication Services	—	7	8	9	10	8

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
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 29.03 = 13

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Short-term activity ratio	Description	The company
Average inventory processing period	An activity ratio equal to the number of days in the period divided by inventory turnover over the period.

Walt Disney Co., average receivable collection period 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
Receivables turnover	7.18	7.21	6.54	5.04	5.15	4.49
Short-term Activity Ratio (no. days)
Average receivable collection period¹	51	51	56	72	71	81
Benchmarks (no. days)
Average Receivable Collection Period, Competitors²
Alphabet Inc.	—	57	52	56	62	57
Comcast Corp.	—	41	38	38	40	38
Meta Platforms Inc.	—	44	42	43	48	49
Netflix Inc.	—	14	11	10	9	8
Average Receivable Collection Period, Sector
Media & Entertainment	—	49	46	49	53	53
Average Receivable Collection Period, Industry
Communication Services	—	47	45	47	51	52

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
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 7.18 = 51

² Click competitor name to see calculations.

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Short-term activity ratio	Description	The company
Average receivable collection period	An activity ratio equal to the number of days in the period divided by receivables turnover.

Walt Disney Co., operating cycle calculation, comparison to benchmarks

No. days

	Sep 28, 2024	Sep 30, 2023	Oct 1, 2022	Oct 2, 2021	Oct 3, 2020	Sep 28, 2019
Selected Financial Data
Average inventory processing period	13	12	12	11	13	14
Average receivable collection period	51	51	56	72	71	81
Short-term Activity Ratio
Operating cycle¹	64	63	68	83	84	95
Benchmarks
Operating Cycle, Sector
Media & Entertainment	—	52	48	51	56	56
Operating Cycle, Industry
Communication Services	—	54	53	56	61	60

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
Operating cycle = Average inventory processing period + Average receivable collection period
= 13 + 51 = 64

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Short-term activity ratio	Description	The company
Operating cycle	Equal to average inventory processing period plus average receivables collection period.	Walt Disney Co. operating cycle improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024.

Walt Disney Co., average payables payment period 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
Payables turnover	3.97	3.91	3.36	2.76	3.33	3.05
Short-term Activity Ratio (no. days)
Average payables payment period¹	92	93	109	132	110	120
Benchmarks (no. days)
Average Payables Payment Period, Competitors²
Alphabet Inc.	—	21	15	20	24	28
Comcast Corp.	—	123	120	118	125	115
Meta Platforms Inc.	—	68	72	66	29	39
Netflix Inc.	—	14	13	18	16	20
Average Payables Payment Period, Sector
Media & Entertainment	—	54	55	62	61	68
Average Payables Payment Period, Industry
Communication Services	—	74	77	76	79	81

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
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 3.97 = 92

² Click competitor name to see calculations.

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Short-term activity ratio	Description	The company
Average payables payment period	An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period.	Walt Disney Co. number of days of payables outstanding decreased from 2022 to 2023 and from 2023 to 2024.

Walt Disney Co., cash conversion cycle calculation, comparison to benchmarks

No. days

	Sep 28, 2024	Sep 30, 2023	Oct 1, 2022	Oct 2, 2021	Oct 3, 2020	Sep 28, 2019
Selected Financial Data
Average inventory processing period	13	12	12	11	13	14
Average receivable collection period	51	51	56	72	71	81
Average payables payment period	92	93	109	132	110	120
Short-term Activity Ratio
Cash conversion cycle¹	-28	-30	-41	-49	-26	-25
Benchmarks
Cash Conversion Cycle, Sector
Media & Entertainment	—	-2	-7	-11	-5	-12
Cash Conversion Cycle, Industry
Communication Services	—	-20	-24	-20	-18	-21

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
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 13 + 51 – 92 = -28

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Short-term activity ratio	Description	The company
Cash conversion cycle	A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period.	Walt Disney Co. cash conversion cycle deteriorated from 2022 to 2023 and from 2023 to 2024.

Walt Disney Co. (NYSE:DIS)

Analysis of Short-term (Operating) Activity Ratios

Short-term Activity Ratios (Summary)

Inventory Turnover

Receivables Turnover

Payables Turnover

Working Capital Turnover

Average Inventory Processing Period

Average Receivable Collection Period

Operating Cycle

Average Payables Payment Period

Cash Conversion Cycle