The Walt Disney Company DIS
NYSEMedia and entertainmentFinancials to Jun 27, 2026 · Updated Nov 11, 2026
Moat ranks
Balance sheet
| $B | Sep 27 | Jun 27 |
|---|---|---|
| Cash | 5.7 | 5.2 |
| Securities | 0.0 | 0.0 |
| Restricted cash | 0.1 | 0.1 |
| Debt | 42.0 | 46.0 |
| Net cash | -36.3 | -40.9 |
| Equity | 109.9 | 110.0 |
- Debt / EBITDA
- 2.42×
- Debt / equity
- 0.42×
- Leases (9/27/25)
- $3.4B
- Diluted shares
- 1,743M
- Book value / share
- $63.13
- Price / book
- 1.9×
- Net cash / share
- −$23.44
- Market cap
- $205.8B
- Enterprise value
- $246.7B
Per-share record
Key indicators
| Indicator | Latest | Vs year ago | Last 8 quarters |
|---|---|---|---|
| Revenue growth | 6.8% | +4.6 pts | |
| Operating margin | 15.3% | +0.7 pts | |
| FCF margin | 12.2% | +4.2 pts | |
| Capex / revenue | 7.1% | -0.4 pts | |
| Domestic park attendance growth | +3% | +3 pts | |
| Domestic park guest spending growth | +4% | -4 pts | |
| Domestic hotel occupancy | 91.0% | +5.0 pts | |
| Entertainment segment operating income | $1.7B | +64% | |
| Sports segment operating income | $858M | -17% |
Margins and growth from reported quarters; company KPIs as reported in results releases.
About DIS
Disney produces and licenses films and television, sells streaming subscriptions, distributes live sports through ESPN, and operates parks, resorts and cruises. FY2025 external revenue was USD42.018bn in Entertainment, USD16.251bn in Sports and USD36.156bn in Experiences.
- Content Rights Currency
Disney owns franchises and copyright-protected libraries that it can sell repeatedly through film, television, streaming and licensing.
- Content Rights Currency
Long contracts for live sports give ESPN content that fans and distributors cannot reproduce.
- Capex Knowhow Scale
Large park and resort sites, attractions, trained staff, logistics and cruise ships require years of investment and operating skill.
- Content Rights Currency
Disney can use its own characters in attractions, ships, merchandise and licensing.
- Oct 5, 2026
ABC News launched a vertical-video feed in its app, extending Disney’s short-video strategy to news. Reported engagement with similar features does not establish higher subscription retention or earnings. Source: https://thewaltdisneycompany.com/news/verts-abc-news/
- Oct 2, 2026
Karandeep Anand became Disney’s first CTO, overseeing enterprise technology, data and AI. Better product execution may connect Disney’s businesses, but financial gains remain unproven. Source: https://thewaltdisneycompany.com/news/karandeep-anand-chief-technology-officer/
- Sep 30, 2026
Paramount and Warner announced an expected October 6 merger close, which could create a stronger combined content and sports rival. Completion remains unverified. Source: Paramount September 30, 2026 announcement, https://ir.paramount.com/news-releases/news-release-details/paramount-skydance-and-warner-bros-discovery-announce
- Sep 29, 2026
Disney cut more corporate jobs as part of its reorganization, according to Reuters’ report of Variety’s account. Lower overhead could help profit, but repeated cuts bring execution risk; no new severance amount was disclosed. Source: https://ca.marketscreener.com/news/disney-laying-off-several-hundred-employees-variety-reports-ce785addd180f222
- Sep 28, 2026
Shawn Levy and 21 Laps signed a multiyear television development deal with Disney’s 20th Television, adding creative supply across its platforms. More titles still need audiences and profitable production terms. Source: https://thewaltdisneycompany.com/news/shawn-levy-overall-television-deal/
Ownership
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On this page
Financial record
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM | Trend | Change 2016–25 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Per share ($) | |||||||||||||
| Revenue | 33.94 | 34.94 | 39.44 | 41.78 | 36.17 | 36.88 | 45.28 | 48.58 | 49.90 | 52.14 | 56.72 | +4.9%/yr | |
| Cash flow | 8.01 | 7.82 | 9.49 | 3.59 | 4.21 | 3.04 | 3.29 | 5.39 | 7.63 | 10.00 | 9.75 | +2.5%/yr | |
| Earnings | 5.73 | 5.69 | 8.36 | 6.26 | -1.57 | 1.11 | 1.75 | 1.29 | 2.72 | 6.85 | 4.93 | +2.0%/yr | |
| Free cash flow | 5.10 | 5.53 | 6.52 | 0.67 | 1.99 | 1.09 | 0.58 | 2.68 | 4.67 | 5.56 | 4.76 | +1.0%/yr | |
| Capex | 2.91 | 2.30 | 2.96 | 2.93 | 2.22 | 1.96 | 2.71 | 2.72 | 2.96 | 4.43 | 4.99 | +4.8%/yr | |
| Dividends | 1.41 | 1.55 | 1.67 | 1.74 | 0.88 | 0.00 | 0.00 | 0.00 | 0.75 | 1.00 | 1.28 | -3.8%/yr | |
| Book value | 26.40 | 26.18 | 32.36 | 53.35 | 46.23 | 48.44 | 52.00 | 54.25 | 55.00 | 60.67 | 63.13 | +9.7%/yr | |
| Diluted shares (M) | 1,639 | 1,578 | 1,507 | 1,666 | 1,808 | 1,828 | 1,827 | 1,830 | 1,831 | 1,811 | 1,743 | +1.1%/yr | |
| Totals ($B) | |||||||||||||
| Revenue | 55.6 | 55.1 | 59.4 | 69.6 | 65.4 | 67.4 | 82.7 | 88.9 | 91.4 | 94.4 | 98.9 | +6.1%/yr | |
| Operating income | 14.2 | 13.8 | 14.8 | 10.6 | -1.9 | 3.0 | 6.5 | 5.1 | 8.3 | 13.0 | 13.5 | -1.0%/yr | |
| Net income | 9.4 | 9.0 | 12.6 | 10.4 | -2.8 | 2.0 | 3.2 | 2.4 | 5.0 | 12.4 | 8.6 | +3.1%/yr | |
| Free cash flow | 8.4 | 8.7 | 9.8 | 1.1 | 3.6 | 2.0 | 1.1 | 4.9 | 8.6 | 10.1 | 8.3 | +2.1%/yr | |
| Buybacks | 7.5 | 9.4 | 3.6 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 3.0 | 3.5 | 8.2 | -8.1%/yr | |
| Dividends | 2.3 | 2.4 | 2.5 | 2.9 | 1.6 | 0.0 | 0.0 | 0.0 | 1.4 | 1.8 | 2.2 | -2.7%/yr | |
| Net cash | -15.6 | -21.3 | -16.7 | -41.6 | -40.7 | -38.4 | -36.8 | -32.2 | -39.8 | -36.3 | -40.9 | −$20.8B | |
| Margins & returns (%) | |||||||||||||
| Gross margin | 46.1 | 45.0 | 44.9 | 39.6 | 32.9 | 33.1 | 34.2 | 33.4 | 35.8 | 37.8 | 37.6 | -8.3 pts | |
| Operating margin | 25.5 | 25.0 | 24.9 | 15.3 | -3.0 | 4.5 | 7.9 | 5.7 | 9.1 | 13.8 | 13.7 | -11.7 pts | |
| Net margin | 16.9 | 16.3 | 21.2 | 15.0 | -4.3 | 3.0 | 3.9 | 2.6 | 5.4 | 13.1 | 8.7 | -3.7 pts | |
| FCF margin | 15.0 | 15.8 | 16.5 | 1.6 | 5.5 | 2.9 | 1.3 | 5.5 | 9.4 | 10.7 | 8.4 | -4.4 pts | |
| ROIC | 18.8 | 17.1 | 17.6 | 6.4 | -1.2 | 1.8 | 3.9 | 3.0 | 4.6 | 6.9 | 7.0 | -11.9 pts | |
| Return on equity | 21.7 | 21.7 | 25.8 | 11.7 | -3.4 | 2.3 | 3.4 | 2.4 | 4.9 | 11.3 | 7.8 | -10.4 pts | |
| Stock pay % of revenue | 0.7 | 0.7 | 0.7 | 1.0 | 0.8 | 0.9 | 1.2 | 1.3 | 1.5 | 1.4 | 1.5 | +0.7 pts | |
| Capex % of revenue | 8.6 | 6.6 | 7.5 | 7.0 | 6.2 | 5.3 | 6.0 | 5.6 | 5.9 | 8.5 | 8.8 | -0.1 pts | |
Change uses 2016 and 2025 only: compound annual growth for amounts, points for margins and returns, and the change in amount for net cash. A dash means no 2016 base. Trend shows the fiscal years.
Moat
Moat scorecard
- Strength
- Confidence
- Structure
- Oligopoly
- Durability
- durable
- Trajectory
- stable
- Pricing power
- moderate
- Entertainment (streaming, linear networks, studios and licensing)44.5%1 claim
- Sports (ESPN and licensed sports content)17.2%1 claim
- Experiences (parks, resorts, cruises and consumer products)38.3%2 claims
Moat claims
- Applies to
- Entertainment (streaming, linear networks, studios and licensing)
- Confidence
- Durability
- durable
- Trajectory
- stableas of Oct 6, 2026
Disney owns franchises and copyright-protected libraries that it can sell repeatedly through film, television, streaming and licensing. Owned stories are scarce assets; they do not force viewers to keep a subscription or guarantee the next hit.
SVOD revenue rose 11% and SVOD operating income reached USD712m in Q3 FY2026, but content sales fell 6% and two major films missed expectations; the rights remain valuable without proof that protection is widening.
- Entertainment segment operating income$1.7B+64%
- Entertainment SVOD revenue$5.5B+11%
- Entertainment SVOD operating income$712M+116%
- Franchise fatigue and weak new releases reduce audience demand and licensing value.
- YouTube, Netflix and other studios compete for viewing time and creative talent.
- Piracy, copyright disputes and AI licensing terms can weaken control over content.
- Linear television decline and advertising weakness reduce cash available to fund new content.
- FilingDisney FY2025 Form 10-K: business, IP, segments and risksNov 13, 2025
- FilingDisney Q3 FY2026 shareholder letter and earnings releaseAug 5, 2026
- Applies to
- Sports (ESPN and licensed sports content)
- Confidence
- Durability
- medium
- Trajectory
- narrowingas of Oct 6, 2026
Long contracts for live sports give ESPN content that fans and distributors cannot reproduce. The protection belongs to specified events and contract terms; leagues retain control at renewal and can sell other packages to competing platforms.
Sports operating income fell to USD858m from USD1.037bn in Q3 FY2026 as programming and production costs rose 10%; higher fees and new NFL assets have not yet protected profit.
- Sports segment operating income$858M-17%
- Sports programming and production costs$3.1B+10%
- Rights fees and production costs can rise faster than subscription and advertising receipts.
- Cord-cutting reduces paying households and weakens the old affiliate model.
- Leagues can reset prices or move valuable packages to technology-funded bidders.
- Antitrust, bundling and distribution disputes can reduce packaging flexibility.
- FilingDisney FY2025 Form 10-K: business, IP, segments and risksNov 13, 2025
- FilingDisney Q3 FY2026 Form 10-Q: quarter ended June 27, 2026Aug 5, 2026
- Applies to
- Experiences (parks, resorts, cruises and consumer products)
- Confidence
- Durability
- durable
- Trajectory
- stableas of Oct 6, 2026
Large park and resort sites, attractions, trained staff, logistics and cruise ships require years of investment and operating skill. An integrated destination can sell tickets, rooms, meals and merchandise to the same guest, spreading infrastructure across several activities.
Domestic attendance rose 3%, spending per guest rose 4% and hotel occupancy was 91% in Q3 FY2026; rival investment and rising expansion costs prevent a widening judgment from capacity alone.
- Domestic park attendance growth+3%
- Domestic park guest spending growth+4%
- Domestic hotel occupancy91.0%+5.0 pts
- Experiences segment operating income$3.0B+20%
- Global guests growth+4%
- Experiences capital expenditures$1.3B-1%
- Large fixed costs make weak attendance and occupancy costly.
- Universal’s Epic Universe and other new attractions compete for vacation days and household budgets.
- Labor, construction, energy and shipyard inflation can lower returns from new capacity.
- Permits, severe weather, safety failures and travel restrictions can disrupt destinations.
- FilingDisney FY2025 Form 10-K: business, IP, segments and risksNov 13, 2025
- FilingDisney Q3 FY2026 Form 10-Q: quarter ended June 27, 2026Aug 5, 2026
- Applies to
- Experiences (parks, resorts, cruises and consumer products)
- Confidence
- Durability
- durable
- Trajectory
- stableas of Oct 6, 2026
Disney can use its own characters in attractions, ships, merchandise and licensing. Copyrights and controlled franchise use differentiate these products from a generic resort, while successful releases can send customers to several businesses.
Consumer Products revenue rose 7% in Q3 FY2026, helped by Toy Story and Star Wars merchandise; gains show franchise demand, but hit timing and stronger rival attractions still matter.
- Domestic park attendance growth+3%
- Domestic park guest spending growth+4%
- Domestic hotel occupancy91.0%+5.0 pts
- Experiences segment operating income$3.0B+20%
- Consumer Products revenue$1.1B+7%
- Consumer Products operating income$560M+26%
- Weak films and franchise fatigue reduce attraction and merchandise demand.
- Heavy licensing or poor product quality can damage franchise value.
- Copyright expiry affects early versions of some characters, though later works and trademarks retain separate protection.
- Retailers and consumers can choose rival franchises.
- FilingDisney FY2025 Form 10-K: business, IP, segments and risksNov 13, 2025
- FilingDisney Q3 FY2026 shareholder letter and earnings releaseAug 5, 2026
Profile change log
- Oct 6, 2026 · method change
The Sports market now covers subscriptions, affiliate access, advertising and sublicensing. S&P’s USD67.34bn rights-spending forecast is retained as an input-cost fact instead of an end-market revenue total, making the ESPN comparison match what it sells.
- Oct 6, 2026 · method change
Stock compensation follows the cash-flow adjustment consistently; the FY2016 expense note excludes a different set of capitalized costs. Missing discrete acquisition and investment breakdowns remain unknown where wider cash-flow lines combine them, preventing unsupported zeroes.
- Oct 6, 2026 · analyst revision
Repeated A+E investment write-downs of USD450m, USD147m and USD812m remain in earnings rather than being added back as isolated charges. They show continuing deterioration in legacy television; the separate Star India settlement benefit and transaction tax effects retain their own treatment.
- Oct 6, 2026 · analyst revision
The macro case now explicitly tests household travel budgets and cost inflation. Latest post-filing sources add streaming contracts, a favorable arbitration ruling and reported job cuts; the pending ABC license case and Paramount/Warner closing still require confirmed outcomes.
- Oct 6, 2026 · business change
ABC News launched a vertical-video feed in its app, extending Disney’s short-video strategy to news. Reported engagement with similar features does not establish higher subscription retention or earnings. Source: https://thewaltdisneycompany.com/news/verts-abc-news/
- Oct 6, 2026 · business change
Disney cut more corporate jobs as part of its reorganization, according to Reuters’ report of Variety’s account. Lower overhead could help profit, but repeated cuts bring execution risk; no new severance amount was disclosed. Source: https://ca.marketscreener.com/news/disney-laying-off-several-hundred-employees-variety-reports-ce785addd180f222
- Oct 6, 2026 · business change
Shawn Levy and 21 Laps signed a multiyear television development deal with Disney’s 20th Television, adding creative supply across its platforms. More titles still need audiences and profitable production terms. Source: https://thewaltdisneycompany.com/news/shawn-levy-overall-television-deal/
- Oct 6, 2026 · business change
Disney appointed Adam Smith chairman of its entertainment streaming business, combining responsibility for product, advertising technology and Disney+/Hulu strategy. Execution and viewer retention now test this broader remit. Source: https://thewaltdisneycompany.com/press-releases/adam-smith-named-chairman-direct-to-consumer-disney-entertainment/
- Oct 6, 2026 · business change
A federal court dismissed the Fubo subscribers’ proposed class claims against Disney and sent their individual claims to arbitration, reducing that class-action exposure. The separate YouTube TV and DirecTV Stream settlement still awaits final approval. Source: signed court order, https://cases.justia.com/federal/district-courts/california/candce/5%3A2022cv07317/404031/244/0.pdf
- Oct 6, 2026 · business change
Disney+ began showing additional ESPN college football games to US subscribers, extending the bundle’s content offer. Engagement must become retained subscriptions to cover sports costs. Source: August 25 announcement, https://press.disneyplus.com/news/espn-expands-sports-content-on-disney-plus
- Oct 6, 2026 · business change
Disney+ secured worldwide distribution for a new Pokémon stop-motion series, due in 2027, with exclusive streaming rights. The agreement strengthens family content without transferring ownership of Pokémon. Source: https://press.disneyplus.com/news/disney-plus-pokemon-key-art
- Oct 6, 2026 · business change
Disney+ and Hulu agreed to carry iHeartMedia video podcasts, extending viewing formats and franchise promotion. Retention and revenue benefits have not been established. Source: https://press.disneyplus.com/news/disney-plus-hulu-iheartmedia-announce
- Oct 6, 2026 · analyst revision
TEA’s worldwide attendance ranking replaces the narrower US competitor list for theme parks. Disney led the 2024 ranking with 145.196 million visits; this includes licensed destinations and is not a Disney consolidated revenue share. Sports rights buyers are refreshed from the 2026 S&P market review.
- Oct 6, 2026 · analyst revision
A+E and Tata Play write-downs are classified on the consolidated restructuring and impairment line so operating profit and its adjustments use the same basis. The FY2025 fourth quarter separately contains a USD450m A+E charge and a USD68m Star India settlement benefit; recurring content write-downs and severance remain costs.
- Oct 6, 2026 · method change
Repeated severance and mixed restructuring totals remain in reported earnings. Distinct goodwill, equity-investment and transaction-related tax effects are identified separately so ordinary cost reductions do not inflate normalized profit.
- Oct 6, 2026 · business change
Paramount and Warner announced an expected October 6 merger close, which could create a stronger combined content and sports rival. Completion remains unverified. Source: Paramount September 30, 2026 announcement, https://ir.paramount.com/news-releases/news-release-details/paramount-skydance-and-warner-bros-discovery-announce
- Oct 6, 2026 · business change
Disney increased selected Disney+ and Hulu prices, testing pricing power and cancellation risk. Source: CBS News, September 23, 2026, https://www.cbsnews.com/news/disney-plus-hulu-price-increase/
- Oct 6, 2026 · business change
Karandeep Anand became Disney’s first CTO, overseeing enterprise technology, data and AI. Better product execution may connect Disney’s businesses, but financial gains remain unproven. Source: https://thewaltdisneycompany.com/news/karandeep-anand-chief-technology-officer/
- Oct 6, 2026 · business change
The FCC asked the court to dismiss Disney’s challenge to early ABC station license reviews and deny an injunction. The request keeps regulatory risk open; it is not a license-revocation ruling. Source: https://storage.courtlistener.com/recap/gov.uscourts.dcd.295648/gov.uscourts.dcd.295648.23.0.pdf
- Oct 6, 2026 · business change
Disney and ABC sued to block early FCC license reviews of eight owned television stations, creating uncertainty over broadcast distribution and editorial decisions. Source: https://clearinghouse.net/case/48398/
- Oct 6, 2026 · business change
Disney announced that Consumer Products will move into Entertainment from FY2027 reporting, aligning franchise creation and merchandise but breaking the current segment comparison.
- Oct 6, 2026 · business change
Disney raised its FY2026 buyback target to at least USD9bn and held its adjusted EPS outlook. Expansion spending and the 53rd week must be separated when assessing cash generation. Source: Q3 FY2026 earnings release.
- Oct 6, 2026 · business change
Disney agreed to bring curated TikTok fan content to Disney+, aiming to increase engagement; a pilot does not yet prove higher retention or earnings. Source: https://thewaltdisneycompany.com/news/tiktok-content-sharing-deal/
- Oct 6, 2026 · business change
Josh D’Amaro succeeded Bob Iger as CEO, bringing parks experience to the task of connecting Disney’s content and destination businesses.
- Oct 6, 2026 · business change
ESPN acquired NFL Network, linear RedZone rights and NFL Fantasy for a 10% ESPN interest, adding content while lowering Disney ownership of ESPN to 72%.
- Oct 6, 2026 · business change
Disney combined Hulu Live TV assets with Fubo and retained 70% of the combined company, expanding live-TV distribution and changing revenue comparability.
- Oct 6, 2026 · business change
Disney combined Star India with Reliance media businesses and retained 37% of the joint venture, replacing consolidated sales with a share of joint-venture earnings.
- Oct 6, 2026 · business change
Disney acquired Fox entertainment assets and took control of Hulu, adding franchises and distribution while increasing debt, share count and recurring purchase-accounting costs.
- Oct 6, 2026 · method change
Segment weights now use FY2025 external revenue, removing internal fees. Segment profit weights are omitted because corporate and other costs remain outside the segment measure.
- Oct 6, 2026 · analyst revision
Entertainment content protection is assessed at strength 4 rather than 5 because competition and weak releases constrain monetization. Experiences retains physical scale and content-rights protection; merchandise and attraction reuse do not establish separate network effects or a trust moat.
Industry & peers
Peer map
Hover a point for its values; click a peer to compare. Dashed lines: industry medians.
Global film, television and anime video
Film and television development, production, distribution and library licensing, linear television networks and paid general-entertainment and anime video services. Excludes licensed merchandise and game software; cinema ticket sales, subscription receipts and studio revenue overlap and cannot be added as one market total.
- Sony Pictures
- Disney
- Netflix
- Paramount
- Prime Video / Amazon MGM Studios
- Universal
- Warner Bros. Discovery
| Stocks | Moat | Gross m. | Op. m. | |
|---|---|---|---|---|
| DIS | 76 | 37.6% | 13.7% | |
| Industry median | 5 | 76 | – | – |
| Sector median | 17 | 81 | 56.7% | 29.4% |
| All stocks median | 398 | 76 | 53.1% | 20.0% |
Moat medians cover every stock. Margin medians count only stocks with collected numbers and need at least three.
Drivers & risks
- Major film and series releases have a strong effect on quarterly revenue; repeat licensing can spread a successful title’s receipts across years.
- Anime fan communities and wider international distribution can grow paid audiences and deepen franchise demand.
- Streamers need distinctive titles and libraries, but production and catalog licensing budgets depend on subscriber economics.
- Currency strongly affects Sony’s yen translation of dollar Pictures earnings. Consumer income and advertising cycles have a medium-to-high effect on cinema attendance and media-network revenue.
- Interest rates have a medium indirect effect on long production cycles, studio funding and buyers’ budgets; location incentives and production rules affect costs and where films are made.
- General paid video can grow through distinctive local content, price changes and advertising tiers. Consumer income and advertising cycles have a medium effect on subscriptions and a stronger effect on advertiser budgets; Disney’s overseas receipts also expose dollar earnings to currency translation.
- A large catalog does not guarantee the next hit; delayed series deliveries and weak franchises can produce sharp revenue swings.
- Global streamers and studios compete for talent and rights, increasing production and marketing costs and creating buyer concentration.
- Piracy, window changes and AI-related rights disputes can reduce revenue or raise enforcement costs.
- Labor disruption and local production requirements can delay a slate after cash has already been spent.
- Theater attendance and linear television distribution face substitutes; subscriber gains need pricing and retention to become durable cash profit.
- General entertainment competes with free short-form video as well as paid services. Easy cancellation and multiple subscriptions make retention after price rises a stronger test than a larger catalog; broadcast-license, child-privacy and AI-rights disputes can increase costs or restrict distribution.
Bulls & bears
Can Disney turn owned franchises, streaming and new destinations into sustained cash growth after sports-rights inflation and expansion spending, without losing price-sensitive viewers and travelers?
Arguments
What to watch
- 1Entertainment SVOD revenue, operating income and retention after price changes
- 2Domestic park attendance, guest spending, hotel occupancy and Experiences capital spending
- 3Sports profit versus rights costs and subscriber losses
- 4Operating cash flow and capex after tax, tariff and acquisition effects
Next check: At the November 17 FY2026 results, separate the 53rd week from underlying demand. Check cash spending, the September price changes and the FY2027 segment recast. The YouTube TV and DirecTV settlement hearing is scheduled for January 14, 2027.
Sources: company filings and dated sources collected for Find My Moat; market cap as of Nov 10, 2026. Not investment advice.
Free to reuse, commercially too, with a credit link. See the data license.
Moat Score 76/100 by <a href="https://www.findmymoat.com/stocks/XNYS:DIS">Find My Moat</a> (as of September 2026)Curation & Accuracy
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