DIS · Walt Disney Co
10-Q filed 2026-05-06 period 2026-03-28
72 Stable
confidence high · source filing on SEC.gov ↗
- Disney integrated media assets from the NFL and FuboTV, expanding service revenues but also increasing operating costs and non-cash tax charges.
- The Experiences segment showed solid momentum with a 6% revenue increase to $19,493 million for the six-month period, driven by higher guest spending and new cruise ship launches.
- Share repurchases accelerated significantly, with $5,500 million spent on buybacks during the six-month period ended March 28, 2026, compared to $1,785 million in the prior-year period.
Filing Health Score pillars
Profitability 25%
70
Revenues grew 6% to $51,149 million for the six-month period, but segment operating income decreased 3% to $9,203 million due to higher programming, production, and marketing costs in the Entertainment segment (MD&A - Consolidated Results and Business Segment Results).
Balance sheet 20%
65
Disney carries a substantial debt load of $47,358 million compared to cash of $5,682 million, resulting in a low current ratio of 0.68, though it continues to return capital via $5,500 million in share repurchases (Condensed Consolidated Balance Sheets and Statements of Cash Flows).
Cash generation 20%
75
Operating cash flow of $7,649 million remains robust and well above net income of $4,949 million, though free cash flow is partially offset by capital expenditures of $4,986 million for parks and resorts (Condensed Consolidated Statements of Cash Flows).
Risk flags 20%
80
No going-concern or restatement issues are present, but the company faces risks from programming contract renewals, copyright expirations of early IP, and an FCC order to file early license renewals for owned TV stations (Item 1A - Risk Factors).
Mgmt signal 15%
72
Management is actively restructuring leadership agreements (e.g., Iger, D'Amaro, Walden) and driving growth in the Experiences segment, though Entertainment faces near-term margin pressure from programming costs (MD&A - Business Segment Results and Item 6).
Key metrics (Six Months Ended March 28, 2026)
net income: $4,949 million
cash and equivalents: $5,682 million
total debt: $47,358 million
shares outstanding: 1,745 million
revenue: $51,149 million
period: Six Months Ended March 28, 2026
operating cash flow: $7,649 million
Gemma triage notes (pre-analysis, second opinion)
None for this filing.Automated research summaries derived from SEC filings. Not investment advice.