Upside case
Bull case
$129+28.5%
DIS would need investors to value it at roughly 20x earnings — about 4x more generous than today's 15x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewBuyUpdated May 1, 2026
The Walt Disney Company (DIS) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
63
analysts
39 bullish · 4 bearish · 63 covering DIS
Strong Buy
0
Buy
39
Hold
20
Sell
4
Strong Sell
0
Consensus Target
$140
+38.8% vs today
Scenario Range
$23 – $129
Model bear to bull value window
Coverage
63
Published analyst ratings
Valuation Context
15.3x
Forward P/E · Market cap $180.0B
DIS price targets
Three scenarios for where DIS stock could go
Current
~$100
Confidence
63 / 100
Updated
May 1, 2026
Where we are now
Current · $100
Bear
$23
Base
$110
Bull
$129
Market caseClosest to today
Base case
$110+9.7%
This is close to how the market is already pricing DIS — at roughly 17x forward earnings. No dramatic re-rating needed, just steady execution on the core business.
Stress case
Bear case
$23-76.9%
If investor confidence fades or macro conditions deteriorate, a 12x multiple contraction could push DIS down roughly 77% from where it trades now.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
The Walt Disney Company
DIS · NYSECommunication ServicesEntertainmentSeptember year-end
The Walt Disney Company is a global entertainment conglomerate that creates and distributes content across film, television, and streaming platforms while operating theme parks and consumer products. It generates revenue primarily through its media networks and streaming services (Disney+, ESPN+, Hulu) — roughly 60% of revenue — and its parks, experiences, and products segment — about 30% of revenue. Disney's key competitive advantage is its unparalleled portfolio of iconic intellectual property — including Marvel, Star Wars, Pixar, and Disney classics — which drives cross-platform monetization and creates a powerful content flywheel.
Market Cap
$180.0B
Revenue TTM
$95.7B
Net Income TTM
$12.3B
Net Margin
12.8%
DIS Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
100%Exceptional
12 quarters tracked
Revenue Beat Rate
58%Exceptional
vs consensus estimates
Avg EPS Surprise
+12.3%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q2 2025
Q3 2025
Q4 2025
Q1 2026
Last 4 Quarters
EPS beats: 4 of 4Q2 2025
EPS
$1.45/$1.19
Revenue
$23.6B/$23.1B
Q3 2025
EPS
$1.61/$1.45
Revenue
$23.6B/$23.7B
Q4 2025
EPS
$1.11/$1.05
Revenue
$22.5B/$22.8B
Q1 2026
EPS
$1.63/$1.57
Revenue
$26.0B/$25.7B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q2 2025 | $1.45/$1.19 | +21.8% | $23.6B/$23.1B | +2.3% |
| Q3 2025 | $1.61/$1.45 | +11.0% | $23.6B/$23.7B | -0.5% |
| Q4 2025 | $1.11/$1.05 | +5.7% | $22.5B/$22.8B | -1.3% |
| Q1 2026 | $1.63/$1.57 | +3.8% | $26.0B/$25.7B | +1.1% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$100.0B
+4.5% YoY
FY2
$105.0B
+5.0% YoY
EPS Outlook
FY1
$6.84
+0.0% YoY
FY2
$7.51
+9.9% YoY
Trailing FCF (TTM)$7.1B
FCF Margin: 7.4%
Next Earnings
May 6, 2026
Expected EPS
$1.49
Expected Revenue
$24.8B
DIS beat EPS estimates in 4 of 4 tracked quarters. A perfect track record raises the bar for the upcoming report.
DIS Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $52.9B
Product Mix
Latest annual revenue by segment or product family
Admission
22.1%
+4.8% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
Americas
80.9%
+5.9% YoY
Tap, hover, or focus a slice to inspect segment detail.
Admission is the largest disclosed segment at 22.1% of FY 2025 revenue, up 4.8% YoY.
Americas is the largest reported region at 80.9%, up 5.9% YoY.
DIS Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Significantly Undervalued
Fair value est. $182 — implies +76.1% from today's price.
Upside to Fair Value
76.1%
potential upside
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
DIS
14.7x
vs
S&P 500
25.1x
42% discount
vs Communication Services Trailing P/E
DIS
14.7x
vs
Communication Services
15.0x
In line with benchmark
vs DIS 5Y Avg P/E
Today
14.7x
vs
5Y Average
66.2x
78% discount
Forward PE
15.3x
S&P 500
19.1x
-20%
Communication Services
13.0x
+17%
5Y Avg
—
—
Trailing PE
14.7x
S&P 500
25.1x
-42%
Communication Services
15.0x
-2%
5Y Avg
66.2x
-78%
PEG Ratio
—
S&P 500
1.72x
—
Communication Services
0.74x
—
5Y Avg
—
—
EV/EBITDA
11.4x
S&P 500
15.2x
-25%
Communication Services
8.4x
+36%
5Y Avg
19.6x
-42%
Price/FCF
17.9x
S&P 500
21.1x
-15%
Communication Services
11.8x
+52%
5Y Avg
78.9x
-77%
Price/Sales
1.9x
S&P 500
3.1x
-39%
Communication Services
1.0x
+95%
5Y Avg
2.5x
-25%
Dividend Yield
0.99%
S&P 500
1.87%
-47%
Communication Services
3.45%
-71%
5Y Avg
0.83%
+20%
| Metric | DIS | S&P 500 | Communication Services | 5Y Avg DIS |
|---|---|---|---|---|
| Forward PE | 15.3x | 19.1x-20% | 13.0x+17% | — |
| Trailing PE | 14.7x | 25.1x-42% | 15.0x | 66.2x-78% |
| PEG Ratio | — | 1.72x | 0.74x | — |
| EV/EBITDA | 11.4x | 15.2x-25% | 8.4x+36% | 19.6x-42% |
| Price/FCF | 17.9x | 21.1x-15% | 11.8x+52% | 78.9x-77% |
| Price/Sales | 1.9x | 3.1x-39% | 1.0x+95% | 2.5x-25% |
| Dividend Yield | 0.99% | 1.87% | 3.45% | 0.83% |
DIS trades above S&P 500 benchmarks on 0 of 5 measured multiples — appears modestly priced relative to the S&P 500 on most measures.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolDIS Financial Health
Verdict
Strong
DIS returns 2.9% of market cap to shareholders annually.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$95.7B
Revenue Growth
TTM vs prior year
+3.5%
Gross Margin
Gross profit as a share of revenue
37.3%
Operating Margin
Operating income divided by revenue
14.2%
Net Margin
Net income divided by revenue
12.8%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$6.83
Free Cash Flow (TTM)
Cash generation after capex
$7.1B
FCF Margin
FCF as share of revenue — the primary cash quality signal
7.4%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
6.9%
ROA
Return on assets, trailing twelve months
6.1%
Cash & Equivalents
Liquid assets on the balance sheet
$5.7B
Net Debt
Total debt minus cash
$39.2B
Debt Serviceability
Net debt as a multiple of annual free cash flow
5.5× FCF
~5.5 years to full repayment at current FCF run-rate
ROE
Return on equity, trailing twelve months
10.7%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
2.9%
Dividend
1.0%
Buyback
1.9%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$3.5B
Dividend / Share
Annualized trailing dividend per share
$1.00
Payout Ratio
Share of earnings distributed as dividends
14.5%
Shares Outstanding
Declining as buybacks retire shares
1.8B
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt).
Open full ratios pageDIS Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 11, 2026
High Risk
Direct-to-Consumer Strategy
Disney has invested heavily in its streaming services, yet the model has historically incurred significant losses. There is no guarantee that these services will become profitable, and they face risks from escalating content costs and shifting distribution dynamics.
High Risk
Economic Sensitivity of Experiences
The theme park and cruise segments are highly exposed to economic downturns, recessions, and rising consumer discretionary costs. High inflation, increased gas, housing, and food prices can erode disposable income, reducing park attendance and cruise bookings.
High Risk
Reputation and Brand Damage
Disney’s globally recognized brands are central to its success across media, parks, and consumer products. Any reputational harm or brand damage could have a widespread negative impact on all business segments.
High Risk
Macroeconomic Pressures on Experiences
Beyond general downturns, specific macro factors such as high gas prices and potential recessionary threats directly affect the Experiences division’s revenue. These pressures can reduce visitor spending and operational profitability.
Medium
Content Pipeline & Production Costs
Disney’s entertainment offerings depend on a robust content pipeline, but rising programming and production costs, coupled with unpredictable theatrical and streaming release schedules, pose significant risks. Potential Hollywood strikes add further uncertainty.
Medium
Competition Across Segments
Disney faces intense competition from traditional media companies, streaming giants like Netflix and Amazon, and other entertainment and leisure providers. This rivalry can erode market share and pressure margins across all segments.
Medium
Technological Change & Innovation
Rapid technological evolution and shifting consumer consumption patterns require Disney to continuously adapt. Failure to keep pace can diminish demand, increase production costs, and weaken revenue generation.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why DIS Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 11, 2026
Streaming Profitability Surge
Disney+ and Hulu have turned profitable, with Q1 FY2026 operating income up 72% to $450 million and an 8.4% margin. Management now guides toward a 10% operating margin for the full year. Q1 2025 revenue rose 5% YoY and adjusted EPS jumped 44%.
Parks & Resorts Revenue & Expansion
The Parks and Resorts segment delivered record quarterly revenue of $10.006 billion and full‑year operating income of $9.99 billion in FY2025. Expansion plans include a new theme park in Abu Dhabi, adding future top‑line growth.
ESPN Sports Streaming Dominance
ESPN’s reinvention secured the NFL as a cornerstone partner, positioning the network to dominate future sports streaming. This partnership is expected to drive subscriber growth and strengthen ESPN’s competitive moat.
Strategic Investment & Share Repurchase Plan
Bob Iger’s return and activist pressure led to a $60 billion long‑term investment plan and a $7 billion FY2026 share‑repurchase program. The company is also focusing on app integration to reduce churn and boost engagement.
Iconic IP Portfolio
Disney’s unmatched library of iconic intellectual property and family‑oriented storytelling provides durable competitive advantages, continuously attracting audiences across all platforms.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
DIS Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$100.48
52W Range Position
28%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$91.00
+10.4% from the low
52-Week High
$124.69
-19.4% from the high
1 Month
+4.36%
3 Month
-4.28%
YTD
-10.2%
1 Year
+9.1%
3Y CAGR
-0.0%
5Y CAGR
-11.2%
10Y CAGR
-0.4%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
DIS vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
15.3x
vs 19.0x median
-20% below peer median
Revenue Growth
+4.5%
vs +10.0% median
-55% below peer median
Net Margin
12.8%
vs 12.2% median
+5% above peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
DIS DIS The Walt Disney Company | $180.0B | 15.3x | +4.5% | 12.8% | Buy | +38.8% |
CMC CMCSA Comcast Corporation | $96.4B | 7.5x | -1.0% | 14.8% | Buy | +20.4% |
WBD WBD Warner Bros. Discovery, Inc. | $73.8B | — | +10.7% | 1.3% | Hold | +9.9% |
FOX FOXA Fox Corporation | $13.9B | 13.4x | +6.8% | 11.4% | Hold | +12.8% |
NFL NFLX Netflix, Inc. | $372.4B | 24.7x | +13.9% | 24.3% | Buy | +32.3% |
AMZ AMZN Amazon.com, Inc. | $2.94T | 35.1x | +10.0% | 12.2% | Buy | +12.2% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
DIS Dividend and Capital Return
DIS returns capital mainly through $3.5B/year in buybacks (1.9% buyback yield), with a modest 0.99% dividend — combining for 2.9% total shareholder yield.
Dividend SustainableFCF Well Covered
Total Shareholder Yield
2.9%
Dividend + buyback return per year
Buyback Yield
1.9%
Dividend Yield
0.99%
Payout Ratio
14.5%
How DIS Splits Its Return
Div 0.99%
Buyback 1.9%
Dividend 0.99%Buybacks 1.9%
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$1.00
Growth Streak
Consecutive years of dividend increases
2Y
3Y Div CAGR
—
5Y Div CAGR
2.6%
Ex-Dividend Date
—
Payment Cadence
Annual
3 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$3.5B
Estimated Shares Retired
35M
Approx. Share Reduction
1.9%
Shares Outstanding
Current diluted share count from the screening snapshot
1.8B
At 1.9%/year, buybacks mechanically lift EPS even with flat earnings — each remaining share represents a slightly larger piece of the company.
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 2026 | $0.75 | — | — | — |
| 2025 | $1.25 | +31.6% | 1.7% | 2.6% |
| 2024 | $0.95 | +216.7% | 1.7% | 2.5% |
| 2023 | $0.30 | — | 0.0% | 0.0% |
| 2019 | $1.76 | +2.3% | 0.1% | 1.5% |
FAQ
7 questionsDIS Investor Questions
Common questions answered from live analyst data and company financials.
01Is The Walt Disney Company (DIS) stock a buy or sell in 2026?
The Walt Disney Company (DIS) is rated Buy by Wall Street analysts as of 2026. Of 63 analysts covering the stock, 39 rate it Buy or Strong Buy, 20 rate it Hold, and 4 rate it Sell or Strong Sell. The consensus 12-month price target is $140, implying +38.8% from the current price of $100. The bear case scenario is $23 and the bull case is $129.
02What is the DIS stock price target for 2026?
The Wall Street consensus price target for DIS is $140 based on 63 analyst estimates. The high-end target is $151 (+50.3% from today), and the low-end target is $132 (+31.4%). The base case model target is $110.
03Is The Walt Disney Company (DIS) stock overvalued in 2026?
DIS trades at 15.3x times forward earnings. The stock currently trades at a discount to the broader market. Based on current multiples versus the peer group, the relative model signals significantly undervalued. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for The Walt Disney Company (DIS) stock in 2026?
The primary risks for DIS in 2026 are: (1) Direct-to-Consumer Strategy — Disney has invested heavily in its streaming services, yet the model has historically incurred significant losses. (2) Economic Sensitivity of Experiences — The theme park and cruise segments are highly exposed to economic downturns, recessions, and rising consumer discretionary costs. (3) Reputation and Brand Damage — Disney’s globally recognized brands are central to its success across media, parks, and consumer products. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is The Walt Disney Company's revenue and earnings forecast?
Analyst consensus estimates DIS will report consensus revenue of $100.0B (+4.5% year-over-year) and EPS of $6.84 (+0.0% year-over-year) for the upcoming fiscal year. The following year, analysts project $105.0B in revenue.
06When does The Walt Disney Company (DIS) report its next earnings?
The Walt Disney Company is expected to report its next earnings on approximately 2026-05-06. Consensus expects EPS of $1.49 and revenue of $24.8B. Over recent quarters, DIS has beaten EPS estimates 100% of the time.
07How much free cash flow does The Walt Disney Company generate?
The Walt Disney Company (DIS) generated $7.1B in free cash flow over the trailing twelve months — a free cash flow margin of 7.4%. DIS returns capital to shareholders through dividends (1.0% yield) and share repurchases ($3.5B TTM).