The Walt Disney Company, together with its subsidiaries, operates as an entertainment company worldwide. It operates through two segments, Disney Media and Entertainment Distribution; and Disney Parks, Experiences and Products. The company engages in the film and episodic television content production and distribution activities, as well as operates television broadcast networks under the ABC, Disney, ESPN, Freeform, FX, Fox, National Geographic, and Star brands; and studios that produces motion pictures under the Walt Disney Pictures, Twentieth Century Studios, Marvel, Lucasfilm, Pixar, and Searchlight Pictures banners. It also offers direct-to-consumer streaming services through Disney+, Disney+ Hotstar, ESPN+, Hulu, and Star+; sale/licensing of film and television content to third-party television and subscription video-on-demand services; theatrical, home entertainment, and music distribution services; staging and licensing of live entertainment events; and post-production services by Industrial Light & Magic and Skywalker Sound. In addition, the company operates theme parks and resorts, such as Walt Disney World Resort in Florida; Disneyland Resort in California; Disneyland Paris; Hong Kong Disneyland Resort; and Shanghai Disney Resort; Disney Cruise Line, Disney Vacation Club, National Geographic Expeditions, and Adventures by Disney as well as Aulani, a Disney resort and spa in Hawaii; licenses its intellectual property to a third party for the operations of the Tokyo Disney Resort; and provides consumer products, which include licensing of trade names, characters, visual, literary, and other IP for use on merchandise, published materials, and games. Further, it sells branded merchandise through retail, online, and wholesale businesses; and develops and publishes books, comic books, and magazines. The Walt Disney Company was founded in 1923 and is based in Burbank, California.

The Walt Disney Company

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Net Income Attributable to The Walt Disney Company

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Income Statement	Sep '25	Mar '25	Sep '24	Mar '24	Sep '23	Apr '23
Total Revenues	46,114	48,311	45,729	45,632	43,571	45,327
Total Revenues %Chg	0.8%	5.9%	5%	0.7%	4.6%	10.4%
Services
Products
Cost of Sales	28,550	30,216	28,939	29,759	28,199	31,002
Cost of Services (Exclusive of Depreciation and Amortization)
Cost of Products (Exclusive of Depreciation and Amortization)
Gross Profit	17,564	18,095	16,790	15,873	15,372	14,325
Gross Profit Margin	38.1%	37.5%	36.7%	34.8%	35.3%	31.6%
Selling, General & Administrative Expenses	8,590	7,911	8,186	7,573	7,895	7,441
Selling, General, Administrative and Other
Depreciation & Amortization Expenses	2,726	2,600	2,505	2,485	2,753	2,616
Depreciation and Amortization
Other Operating Expenses	567	252	1,543	2,052	2,871	221
Restructuring and Impairment Charges
Operating Profit	5,681	7,332	4,556	3,763	1,853	4,047
Operating Margin	12.3%	15.2%	10%	8.2%	4.3%	8.9%
Interest and Investment Income	167	128	253	322	418	364
Equity in the Income of Investees
Interest Income, Net
Interest Expense	-592	-713	-703	-557	-587	-622
Interest Expense, Net
Non-Operating Income	—	—	-65	—	-11	107
Other Income, Net
Total Non-Operating Income	-425	-585	-515	-235	-180	-151
Income Before Provision for Income Taxes	5,256	6,747	4,041	3,528	873	3,896
Income Before Income Taxes
Provision for Income Taxes	-2,130	702	635	1,161	332	1,047
Income Taxes
Consolidated Net Income	7,386	6,045	3,406	2,367	541	2,849
Net Income from Continuing Operations
Net Income Attributable to Minority Interests and Other	811	216	325	476	737	299
Net Income Attributable to Noncontrolling and Redeemable Noncontrolling Interests
Net Income from Discontinued Operations Attributable to Noncontrolling Interests
Net Income Attributable to Discontinued Operations	—	—	—	—	—	—
Loss from Discontinued Operations, Net of Income Tax Benefit
Net Income Attributable to Common Shareholders	6,575	5,829	3,081	1,891	-196	2,550
Net Income Attributable to The Walt Disney Company
Basic EPS	3.7	3.2	1.7	1	-0.1	1.4
Diluted EPS	3.6	3.2	1.7	1	-0.1	1.4
Basic Weighted Average Shares Outstanding	1,798	1,810	1,817	1,833	1,829	1,827
Total Shares Outstanding	1,791	1,801	1,812	1,826	1,811	1,827
Diluted Weighted Average Shares Outstanding	1,806	1,816	1,824	1,838	1,831	1,829
EBITDA	8,407	9,932	7,061	6,248	4,606	6,663
Effective Tax Rate	-40.5%	10.4%	15.7%	32.9%	38%	26.9%