Walt Disney (DIS) FY2020 results: revenue $65.4 billion, down 6.0% on the year
Walt Disney Co. (DIS) reported revenue of $65.4 billion for fiscal 2020, the year ended 3 October 2020, down 6.0% on the year before. Net income was -$2.9 billion, and diluted earnings per share $-1.58. The figures are the company's own, from the 10-K it filed with the SEC on 25 November 2020.
Revenue
$65.4 billion
-6.0% on the year
FY2016FY2020
Operating margin
12.4%
21.4% a year earlier
FY2016FY2020
Net income
-$2.9 billion
FY2016FY2020
Diluted EPS
-$1.58
FY2016FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
65,388
69,570
59,434
-6.0%
Selling, general and administrative
12,369
11,541
8,860
+7.2%
Operating income
8,108
14,868
15,689
-45.5%
Operating margin
12.4%
21.4%
26.4%
Interest expense
1,647
1,246
682
+32.2%
Pre-tax income
-1,743
13,944
14,729
Income tax
699
3,031
1,663
-76.9%
Effective tax rate
n/a
21.7%
11.3%
Net income
-2,864
11,054
12,598
Net margin
-4.4%
15.9%
21.2%
Diluted EPS
-$1.58
$6.64
$8.36
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
7,618
6,606
14,295
+15.3%
Capital expenditure
4,022
4,876
4,465
-17.5%
Free cash flow
3,596
1,730
9,830
+107.9%
Free cash flow margin
5.5%
2.5%
16.5%
Cash from investing
n/a
n/a
-5,336
Cash from financing
n/a
n/a
-8,843
Depreciation and amortisation
5,345
4,160
3,011
+28.5%
Share-based compensation
525
711
393
-26.2%
Buybacks
0.0
0.0
3,577
Dividends paid
1,587
2,895
2,515
-45.2%
Dividend per share
n/a
n/a
$1.68
Diluted shares, weighted
1,808m
1,666m
1,507m
+8.5%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
83,583
88,877
48,773
-6.0%
Non-controlling interest
4,680
5,012
4,059
-6.6%
Redeemable equity
9,249
8,963
1,123
+3.2%
Debt
58,628
46,986
20,874
+24.8%
Other liabilities
45,409
44,146
23,769
+2.9%
Total liabilities and equity
201,549
193,984
98,598
+3.9%
Fixed assets
32,078
31,603
29,540
+1.5%
Goodwill
77,689
80,293
31,269
-3.2%
Intangible assets
19,173
23,215
6,812
-17.4%
Investments
3,903
3,224
2,899
+21.1%
Cash and equivalents
17,914
5,418
4,150
+230.6%
Receivables
12,708
15,481
9,334
-17.9%
Inventory
1,583
1,649
1,392
-4.0%
Other assets
36,501
33,101
13,202
+10.3%
Total assets
201,549
193,984
98,598
+3.9%
10-K for the year ended 3 October 2020, filed 25 November 2020: the filing.