The Walt Disney Company (DIS) Income Statement
DIS FY2025 at a glance
Fiscal year ended September 30, 2025 · U.S. dollarsDIS revenue and net income
Where DIS's revenue goes
FY2025Each bar shows an amount and its share of revenue. DIS kept 13.1% of revenue as net income.
DIS profit margins
DIS growth rates
to FY2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +3.4% | +4.5% | +7.6% | +6.1% |
| Gross profit | +9.2% | +8.0% | +10.6% | +4.0% |
| Operating income | +16.1% | +26.9% | +29.5% | +0.5% |
| Net income | +149.5% | +58.0% | — | +4.0% |
| EPS (diluted) | +19.6% | +18.9% | +24.2% | +1.4% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
DIS quarterly EPS vs estimates
Disney beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: November 17, 2026 (estimate $1.68).
DIS income statement
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $94.42B | $91.36B | $88.90B | $82.72B | $67.42B | $65.39B | $69.61B | $59.43B | $55.14B | $55.63B |
| Cost of revenue | $58.77B | $58.70B | $59.20B | $54.40B | $45.13B | $43.88B | $42.06B | $32.73B | $30.31B | $29.99B |
| Gross profit | $35.66B | $32.66B | $29.70B | $28.32B | $22.29B | $21.51B | $27.55B | $26.71B | $24.83B | $25.64B |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | — |
| Sales, general & admin | $16.50B | $15.76B | $15.34B | $16.39B | $13.52B | $2.64B | $11.54B | $8.86B | $8.18B | $8.75B |
| Total operating expenses | $21.83B | $20.75B | $20.70B | $21.55B | $18.63B | $17.71B | $15.72B | $11.87B | $10.96B | $11.28B |
| Operating income | $13.83B | $11.91B | $8.99B | $6.77B | $3.66B | $3.79B | $11.83B | $14.84B | $13.87B | $14.36B |
| Interest income | $507.0M | $406.0M | $427.0M | $581.0M | $645.0M | $198.0M | $543.0M | $676.0M | $65.0M | $666.0M |
| Interest expense | $1.81B | $1.45B | $1.46B | $1.55B | $1.55B | $1.65B | $1.25B | $706.0M | $507.0M | $354.0M |
| Income before taxes | $12.00B | $7.57B | $4.77B | $5.29B | $2.56B | −$1.74B | $13.92B | $14.73B | $13.79B | $14.87B |
| Income taxes | −$1.43B | $1.80B | $1.38B | $1.73B | $25.0M | $699.0M | $3.03B | $1.66B | $4.42B | $5.08B |
| Net income | $12.40B | $4.97B | $2.35B | $3.15B | $2.00B | −$2.86B | $11.05B | $12.60B | $8.98B | $9.39B |
| EBITDA | $19.14B | $14.63B | $12.11B | $12.00B | $9.08B | $5.09B | $19.07B | $18.31B | $17.08B | $17.75B |
| EPS (diluted) | $5.93 | $4.96 | $3.78 | $3.53 | $2.29 | $2.01 | $5.87 | $7.08 | $5.70 | $5.71 |
| Gross margin | 37.8% | 35.8% | 33.4% | 34.2% | 33.1% | 32.9% | 39.6% | 44.9% | 45.0% | 46.1% |
| Operating margin | 14.6% | 13.0% | 10.1% | 8.2% | 5.4% | 5.8% | 17.0% | 25.0% | 25.2% | 25.8% |
| Net margin | 13.1% | 5.4% | 2.6% | 3.8% | 3.0% | −4.4% | 15.9% | 21.2% | 16.3% | 16.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $25.25B | $25.17B | $25.98B | $22.46B | $23.65B | $23.62B | $24.69B | $22.57B | $23.16B | $22.08B | $23.55B | $21.24B |
| Cost of revenue | $15.11B | $15.90B | $16.67B | $14.02B | $14.53B | $14.81B | $15.41B | $14.23B | $14.71B | $14.17B | $15.59B | $13.73B |
| Gross profit | $10.14B | $9.27B | $9.31B | $8.45B | $9.12B | $8.81B | $9.28B | $8.34B | $8.45B | $7.91B | $7.96B | $7.51B |
| Sales, general & admin | $3.97B | $4.07B | $4.12B | $4.45B | $4.14B | $3.98B | $3.93B | $4.31B | $3.87B | $3.79B | $3.78B | $4.02B |
| Total operating expenses | $4.59B | $5.48B | $5.44B | $5.84B | $5.47B | $5.30B | $5.21B | $5.60B | $5.09B | $5.03B | $5.03B | $5.43B |
| Operating income | $5.55B | $3.79B | $3.88B | $2.60B | $3.65B | $3.51B | $4.08B | $2.75B | $3.35B | $2.88B | $2.94B | $2.53B |
| Interest income | $165.0M | $233.0M | $168.0M | $148.0M | $114.0M | $125.0M | $120.0M | $233.0M | $167.0M | $190.0M | $282.0M | $219.0M |
| Interest expense | $298.0M | $473.0M | $443.0M | $509.0M | $345.0M | $471.0M | $487.0M | $505.0M | $509.0M | $501.0M | $528.0M | $501.0M |
| Income before taxes | $3.65B | $3.37B | $3.69B | $2.04B | $3.21B | $3.09B | $3.66B | $948.0M | $3.09B | $657.0M | $2.87B | $1.01B |
| Income taxes | $801.0M | $902.0M | $1.21B | $602.0M | −$2.73B | −$314.0M | $1.02B | $384.0M | $251.0M | $441.0M | $720.0M | $313.0M |
| Net income | $2.64B | $2.25B | $2.40B | $1.31B | $5.26B | $3.27B | $2.55B | $460.0M | $2.62B | −$20.0M | $1.91B | $264.0M |
| EBITDA | $8.58B | $5.25B | $5.45B | $3.95B | $4.98B | $4.88B | $5.42B | $2.77B | $4.82B | $2.40B | $4.64B | $3.94B |
| EPS (diluted) | $2.06 | $1.57 | $1.63 | $1.11 | $1.61 | $1.45 | $1.76 | $1.14 | $1.39 | $1.21 | $1.22 | $0.82 |
| Gross margin | 40.2% | 36.8% | 35.8% | 37.6% | 38.6% | 37.3% | 37.6% | 37.0% | 36.5% | 35.8% | 33.8% | 35.4% |
| Operating margin | 22.0% | 15.1% | 14.9% | 11.6% | 15.4% | 14.8% | 16.5% | 12.2% | 14.5% | 13.0% | 12.5% | 11.9% |
| Net margin | 10.4% | 8.9% | 9.2% | 5.8% | 22.2% | 13.9% | 10.3% | 2.0% | 11.3% | −0.1% | 8.1% | 1.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in DIS's financial statements (latest annual report filed November 13, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.
DIS financial results
In fiscal year 2025 (ended September 30, 2025), Disney reported revenue of $94.4 billion, up 3.4% from the year before. It had net income of $12.4 billion (up 149.5%), a net profit margin of 13.1%. Diluted earnings per share came to $5.93. Over five years revenue grew at an average rate of 7.6% a year.
See the DIS stock overview for the latest quote and news, or the DIS chart for price history and technical indicators.
DIS income statement FAQ
What is Disney's annual revenue?
Disney reported total revenue of $94.4 billion for fiscal year 2025, which ended on September 30, 2025. That was up 3.4% from $91.4 billion the previous year.
Is Disney profitable?
Yes. Disney reported net income of $12.4 billion in fiscal 2025, a net profit margin of 13.1%; its operating margin was 14.6%.
What is Disney's gross margin?
Disney's gross margin was 37.8% in fiscal 2025: for every $100 of revenue, Disney kept $38 after the direct cost of its products and services.
How fast is Disney growing?
Revenue grew 7.6% a year on average over the last five fiscal years, from $65.4 billion to $94.4 billion.
What are Disney's earnings per share?
Disney earned $5.93 per diluted share in fiscal 2025, compared with $4.96 a year earlier.
When will Disney report its next earnings?
Disney is expected to report results for the quarter ending September 30, 2026 on November 17, 2026 before the market opens.
When does Disney's fiscal year end?
Disney's fiscal year ends in September. The latest annual report covers the year ended September 30, 2025 and was filed on November 13, 2025.