What is DIS's intrinsic value?

TickerWorth's blended fair value for The Walt Disney Company (DIS) is $88.99 per share, versus a market price of $110.59 (priced within our range of $61.18 – $139.00).

Is DIS overvalued or undervalued?

Priced within our range of $61.18 – $139.00 at $110.59. We don't call DIS overvalued or undervalued from a range. This is an educational estimate, not advice.

What discount rate is used for DIS?

A WACC of 10.1% and a terminal growth rate of 2.5%.

Is The Walt Disney stock undervalued?

TickerWorth's fair value for The Walt Disney Company (DIS) is $88.99 against a market price of $110.59. Our read: Priced within our range of $61.18 – $139.00. This is a model estimate, not investment advice.

The Walt Disney (DIS) DCF valuation and fair value

Our fair value for The Walt Disney Company (DIS) is $88.99, built on a 10.1% discount rate (WACC) and 2.5% terminal growth. It blends our discounted-cash-flow model with other valuation lenses. Every assumption is listed on this page with its source.

What growth is priced into The Walt Disney stock?

Today's price implies revenue growth of 14.2% a year for 5 years; our model assumes 5.0% a year on average over the same horizon. This is a reverse DCF: it holds our cash-flow model's other inputs and solves for the revenue growth that makes the model equal today's price of $110.59. A model estimate, not investment advice.

The Walt Disney (DIS) insider trading

The most recent insider filing (SEC Form 4) for The Walt Disney Company (DIS): WOODFORD BRENT, EVP, Control, Fin Plan & Tax, option exercise on 2026-10-08. The latest filings are listed on this page. A disclosure, not a signal to trade.

DIS · Intrinsic value

Is The Walt Disney Company (DIS) overvalued or undervalued?

Name: The Walt Disney Company (DIS) DCF intrinsic value
Creator: TickerWorth

The Walt Disney Company (DIS) trades at the delayed market price of $110.59 a share. That price already implies revenue growth of 14.2% a year for 5 years. TickerWorth's fair value is $88.99 a share (priced within our range of $61.18 – $139.00). We do not call it over- or undervalued from inside our range.

Model by Miraaj Patel · generated from a hand-researched model · Updated Oct 19, 2026 · How these pages are made

Open full DIS analysis

Is DIS fairly valued?

Fair value: $88.99
Market price: $110.59
Downside to fair value: 19.5%
Verdict: Priced within our range of $61.18 – $139.00

Price as of 19 Oct 2026, 12:47 UTC · Prices are delayed.

Fair value against the delayed market price: Priced within our range of $61.18 – $139.00.

Reverse DCF: Today's price implies revenue growth of 14.2% a year for 5 years; our model assumes 5.0% a year on average over the same horizon.

What is DIS's TickerWorth Score?

D45/100

Scores lower than most companies we compare it with

Compared with Communication Services companies in US

Its strongest point: recent price trend has been strong. Its weakest: trades above our estimate of what it's worth.

Value · 46 of 100
Cheaper than 46% of Communication Services companies in US
Price vs worth · 34 of 100
Quality · 43 of 100
More profitable than 43% of Communication Services companies in US
Financial health · 37 of 100
Financially stronger than 37% of Communication Services companies in US
Growth · 41 of 100
Growing faster than 41% of Communication Services companies in US
Momentum · 79 of 100
Outperformed 79% of Communication Services companies in US over the past year

Confidence: High confidence · Scored 19 Oct 2026, 12:47 UTC

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Where the numbers come from

Hand-researched model

What the modeller flagged

THE MODEL SITS FAR BELOW TODAY'S PRICE, AND THE GAP IS MOSTLY THE DISCOUNT RATE. At a ~10.13% WACC (5.24% Treasury + 1.27 x 5%), a business whose modeled free cash flow is ~9-10% of revenue and growing ~4-5% is worth ~6.4x terminal-year EBITDA. The market is paying for either a much lower discount rate or a much higher steady-state margin — see the reverse DCF in the explainer.
YEAR-1 FREE CASH FLOW vs REPORTED. Modeled FY2026 FCF is $9,338M, -7.3% vs the $10,077M Disney reported for FY2025 — inside the 20% line. But FY2025 was inflated by ~$1.7B of deferred tax, and management's FY2026 outlook implies ~$11.7B before the catch-up tax payment, ~20% above the model. The difference is decomposable: SBC (~$1.5B a year, kept as an expense by house rule), content amortization exceeding cash content spend (~$1.1B in 9M FY2026, deliberately not credited), and cash taxes running below the 22.5% normalized rate. The model is the more conservative read.
TERMINAL VALUE IS ~72% OF ENTERPRISE VALUE, under the 75% danger line; the high discount rate pulls more of the answer into the forecast years.
CAPEX IS HELD HIGH IN PERPETUITY. 8.0% of revenue continues the 2023 plan to spend ~$60B on Experiences over ~10 years, and the build-out is not front-loaded. Once that build-out ends, capex could normalize nearer depreciation; this model does not assume it. That choice LOWERS the value (7% capex: ~$68.78).
TAX SHIELD ON ACQUISITION AMORTIZATION. Adding back the full D&A while GAAP EBIT deducts the TFCF/Hulu amortization leaves a small tax shield in every year, including the terminal year, although that amortization is running off (FY2025 $1,307M, Q3 FY2026 $270M). It is worth roughly $1-2/share and slightly flatters the value.
NCI AND INVESTMENTS ARE ESTIMATES. Noncontrolling interests are capitalized at ~14.9x their ~$700M run-rate earnings ($10.4B vs $6.8B book), and the loss-making 37% India JV is carried at book inside $7.6B of investments. Either could be off by a few dollars a share.
SBC ($1,363M in FY2025, 1.4% of revenue) stays expensed inside GAAP EBIT; dilution is captured by the weighted diluted count. No add-back.
SHELF LIFE: Disney reports Q4 and full-year FY2026 (and should issue FY2027 guidance and file the FY2026 10-K) around 2026-11-12. That release replaces this model's base year and Year 1 — re-run then.

DIS DCF valuation, input by input

TickerWorth's fair value for The Walt Disney Company (DIS) is $88.99 a share, against the delayed market price of $110.59 (priced within our range of $61.18 – $139.00). We do not call it over- or undervalued from inside our range. It is a model estimate, and every input behind it is sourced below. This is an educational model, not a price target or a recommendation.

Read the full reasoning

One of the lenses behind that blended figure is a discounted-cash-flow model, which on its own values DIS at about $61.18 per share. The rest of this page walks through that DCF — its assumptions, reverse-DCF and discount-rate sensitivity — because it is the auditable anchor of the blend.

The valuation discounts The Walt Disney Company's projected free cash flows at a weighted-average cost of capital (WACC) of 10.1%, with a long-run terminal growth rate of 2.5%. About 72% of the enterprise value comes from the terminal value — the portion beyond the explicit forecast window — which is typical for a stable, cash-generative business and a reminder that small changes in the discount rate or terminal growth assumption swing the intrinsic value meaningfully.

Running the DCF in reverse — solving for the growth the current price already assumes — the market is implying roughly 14.2% annual revenue growth for DIS. Our base case instead compounds to about 5.0% a year over the same forecast, so the market is pricing in materially faster growth than our base case. The reverse-DCF is a quick sanity check: it reframes 'is this stock cheap?' as 'do I believe the growth the price requires?' rather than arguing over a single point estimate of fair value.

Sensitivity matters more than any single number. Across a reasonable band of discount-rate assumptions, DIS's modeled DCF value ranges from about $41.43 to $99.95 per share. If that range still sits below today's price, the market is optimistic relative to the model across the whole band; if it brackets the price, the stock is roughly fairly valued on our assumptions. Use the interactive slider to see exactly where your own cost-of-capital view lands.

How to read this page: the DCF fair value is what The Walt Disney Company would be worth if its cash flows grow as modeled and are discounted at the stated WACC. The assumptions table shows every input and its source; the reverse-DCF shows what the market believes; the sensitivity band shows how fragile the answer is. None of this is investment advice — it is a transparent, auditable framework for forming your own view of DIS's intrinsic value. Figures update as new filings and prices come in.

Every input behind DIS's DCF

Input	Value	Source
Base-year revenueDisney FY2025 10-K (accession 0001744489-25-000155, filed 2025-11-13): Total revenues FY2025 $94,425M, +3% vs FY2024 $91,361M (the Q4 FY2025 release, same figures). The +3% understates the underlying rate: Star India was deconsolidated into the 37%-owned India joint venture on 2024-11-14, which the 10-K says took ~3 points off service-revenue growth. FY2025 is the latest COMPLETED fiscal year with a filed 10-K: FY2026 ended ~2026-10-03 and its 10-K is not due until mid/late November. UNCHANGED as the base; the forecast carries FY2026. CROSS-CHECK: 9M FY2026 revenue $76,397M, +6.2% on 9M FY2025's $71,961M; Q3 alone $25,248M (+7%) — Q3 FY2026 release.	$94,425,000,000	Disney FY2025 10-K (accession 0001744489-25-000155, filed 2025-11-13): Total revenues FY2025 $94,425M, +3% vs FY2024 $91,361M (the Q4 FY2025 release, same figures). The +3% understates the underlying rate: Star India was deconsolidated into the 37%-owned India joint venture on 2024-11-14, which the 10-K says took ~3 points off service-revenue growth. FY2025 is the latest COMPLETED fiscal year with a filed 10-K: FY2026 ended ~2026-10-03 and its 10-K is not due until mid/late November. UNCHANGED as the base; the forecast carries FY2026. CROSS-CHECK: 9M FY2026 revenue $76,397M, +6.2% on 9M FY2025's $71,961M; Q3 alone $25,248M (+7%) — Q3 FY2026 release.
Base EBIT marginDisney Q4 FY2025 earnings release, 8-K Ex-99.1 (accession 0001744489-25-000154, filed 2025-11-13) + Disney FY2025 10-K (accession 0001744489-25-000155, filed 2025-11-13): DERIVED — Disney reports no operating-income line and guides SEGMENT operating income, a non-GAAP figure. This model's EBIT is GAAP 'Revenues' less 'Costs and expenses': $94,425M - $80,593M = $13,832M = 14.65%. Reconciled to Disney's own bridge: total segment OI $17,551M - corporate and unallocated shared expenses $1,646M - amortization of TFCF and Hulu intangibles and film-cost step-up $1,576M - the $497M of equity-investee income that sits INSIDE segment OI (consolidated equity income $295M + the $202M India JV loss that Disney reports outside the segments) = $13,832M, ties exactly. So: corporate costs IN (they are real), TFCF/Hulu acquisition amortization IN (its non-cash nature is handled by the D&A add-back, see da_pct_revenue), equity-investee income OUT (those stakes are valued in the net-debt bridge instead), and the $819M of 'Restructuring and impairment charges' OUT — in FY2025 they were almost entirely write-downs of INVESTMENTS (A+E and Tata Play $635M, Star India $143M), not operating costs; severance recurs at ~$0.2B a year and is a small known omission that flatters EBIT by ~0.2pt. CROSS-CHECK on the same derivation: 9M FY2026 $76,397M - $63,973M = $12,424M = 16.26%, vs 15.60% for 9M FY2025. The base-year margin does not drive the forecast; it sets the peak the cyclical test compares against (peak = max(14.65%, Y1 16.3%) = 16.3%).	14.6%	Disney Q4 FY2025 earnings release, 8-K Ex-99.1 (accession 0001744489-25-000154, filed 2025-11-13) + Disney FY2025 10-K (accession 0001744489-25-000155, filed 2025-11-13): DERIVED — Disney reports no operating-income line and guides SEGMENT operating income, a non-GAAP figure. This model's EBIT is GAAP 'Revenues' less 'Costs and expenses': $94,425M - $80,593M = $13,832M = 14.65%. Reconciled to Disney's own bridge: total segment OI $17,551M - corporate and unallocated shared expenses $1,646M - amortization of TFCF and Hulu intangibles and film-cost step-up $1,576M - the $497M of equity-investee income that sits INSIDE segment OI (consolidated equity income $295M + the $202M India JV loss that Disney reports outside the segments) = $13,832M, ties exactly. So: corporate costs IN (they are real), TFCF/Hulu acquisition amortization IN (its non-cash nature is handled by the D&A add-back, see da_pct_revenue), equity-investee income OUT (those stakes are valued in the net-debt bridge instead), and the $819M of 'Restructuring and impairment charges' OUT — in FY2025 they were almost entirely write-downs of INVESTMENTS (A+E and Tata Play $635M, Star India $143M), not operating costs; severance recurs at ~$0.2B a year and is a small known omission that flatters EBIT by ~0.2pt. CROSS-CHECK on the same derivation: 9M FY2026 $76,397M - $63,973M = $12,424M = 16.26%, vs 15.60% for 9M FY2025. The base-year margin does not drive the forecast; it sets the peak the cyclical test compares against (peak = max(14.65%, Y1 16.3%) = 16.3%).
Forecast revenue growthESTIMATEAssumption — TickerWorth's 5-year explicit forecast	8% → 4% → 5% → 4% → 4%	ESTIMATEAssumption — TickerWorth's 5-year explicit forecast
Risk-free rateUS 10Y Treasury constant maturity (FRED DGS10): 5.24% on 2026-10-01, the latest published observation. Shared by every model in this tracker.	5.2%	US 10Y Treasury constant maturity (FRED DGS10): 5.24% on 2026-10-01, the latest published observation. Shared by every model in this tracker.
BetaESTIMATEAssumption — yfinance published beta + own regressions, Blume-adjusted: NORMALIZED DOWN from the published 5Y-monthly 1.409 (yfinance, read 2026-10-03) to 1.27 with the standard Blume adjustment (0.67 x 1.409 + 0.33 = 1.274), the 'adjusted beta' Bloomberg publishes. This RAISES the value, so it is stated loudly. My own regressions of DIS against the S&P 500 on yfinance adjusted closes: 5Y monthly 1.42 (confirms the published figure), 3Y monthly 1.59, 10Y monthly 1.31, but 2Y weekly 1.01, 3Y weekly 0.97, 5Y weekly 1.08. The monthly windows are dominated by Disney-specific swings (the 2021-22 streaming boom and bust, two CEO successions) that weekly data average out. Blume sits between the monthly and weekly reads, so I neither take the high monthly number at face value nor the low weekly one. Published 1.409 → ~$55.22; 1.0 → ~$75.64. Each 0.1 of beta is worth roughly $4-5/share.	1.27	ESTIMATEAssumption — yfinance published beta + own regressions, Blume-adjusted: NORMALIZED DOWN from the published 5Y-monthly 1.409 (yfinance, read 2026-10-03) to 1.27 with the standard Blume adjustment (0.67 x 1.409 + 0.33 = 1.274), the 'adjusted beta' Bloomberg publishes. This RAISES the value, so it is stated loudly. My own regressions of DIS against the S&P 500 on yfinance adjusted closes: 5Y monthly 1.42 (confirms the published figure), 3Y monthly 1.59, 10Y monthly 1.31, but 2Y weekly 1.01, 3Y weekly 0.97, 5Y weekly 1.08. The monthly windows are dominated by Disney-specific swings (the 2021-22 streaming boom and bust, two CEO successions) that weekly data average out. Blume sits between the monthly and weekly reads, so I neither take the high monthly number at face value nor the low weekly one. Published 1.409 → ~$55.22; 1.0 → ~$75.64. Each 0.1 of beta is worth roughly $4-5/share.
Terminal growthESTIMATEAssumption — house default: House default 2.5% (roughly long-run nominal GDP), kept for comparability. Reasonable for Disney: parks pricing has compounded above inflation for decades, but linear TV is in structural decline. 3.0% adds ~$4.68/share; 2.0% takes ~$4.10 off. Must stay well below the ~10.13% WACC.	2.5%	ESTIMATEAssumption — house default: House default 2.5% (roughly long-run nominal GDP), kept for comparability. Reasonable for Disney: parks pricing has compounded above inflation for decades, but linear TV is in structural decline. 3.0% adds ~$4.68/share; 2.0% takes ~$4.10 off. Must stay well below the ~10.13% WACC.
Diluted sharesDisney Q3 FY2026 earnings release, 8-K Ex-99.1 (accession 0001744489-26-000056, filed 2026-08-05) + Disney Q3 FY2026 10-Q (accession 0001744489-26-000057, filed 2026-08-05) Note 9: Q3 FY2026 weighted-average DILUTED shares 1,743M (basic 1,738M + 5M award dilution). Down from 1,811M for FY2025 and 1,805M in Q3 FY2025: Disney repurchased 68M shares for $7.2B in 9M FY2026 and is 'now targeting at least $9 billion' for the year, using the ~$1.2B A+E proceeds. Cover-page count 1,726.7M outstanding at 2026-07-29, so the weighted Q3 figure is mildly CONSERVATIVE (buybacks continued after June); consistent with net debt, which is also struck at 2026-06-27.	1,743M	Disney Q3 FY2026 earnings release, 8-K Ex-99.1 (accession 0001744489-26-000056, filed 2026-08-05) + Disney Q3 FY2026 10-Q (accession 0001744489-26-000057, filed 2026-08-05) Note 9: Q3 FY2026 weighted-average DILUTED shares 1,743M (basic 1,738M + 5M award dilution). Down from 1,811M for FY2025 and 1,805M in Q3 FY2025: Disney repurchased 68M shares for $7.2B in 9M FY2026 and is 'now targeting at least $9 billion' for the year, using the ~$1.2B A+E proceeds. Cover-page count 1,726.7M outstanding at 2026-07-29, so the weighted Q3 figure is mildly CONSERVATIVE (buybacks continued after June); consistent with net debt, which is also struck at 2026-06-27.
Market priceDelayed quote · as of 2026-10-19 12:47 UTC	$110.59	Delayed quote · as of 2026-10-19 12:47 UTC

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What does The Walt Disney Company do?

What does it do?

The Walt Disney Company operates as an entertainment company in Americas, Europe, and the Asia Pacific. It operates in three segments: Entertainment, Sports, and Experiences. It operates in the Entertainment industry (Communication Services sector), headquartered in United States. The company employs roughly 175,560 people.

How does it make money?

The business turns $98.9B in annual revenue into profit. Out of every $100 of sales, about $19 is left as operating profit (operating margin of 19.3%), after a 38% gross margin on the products/services it sells. After all costs, taxes and interest, 8.7% of revenue becomes bottom-line net profit.

Is it financially healthy?

Financially it looks stretched: carries modest debt (0.4× equity), may struggle to cover its short-term bills (0.7× current ratio), and is currently profitable.

Who at DIS filed insider trades?

Recent insider filings for The Walt Disney Company
Date	Insider	Relationship	What happened	Value	Filing
8 Oct 2026	WOODFORD BRENT	EVP, Control, Fin Plan & Tax	Option exercise	$380,649.78	Form 4 for WOODFORD BRENT (opens sec.gov in a new tab)
8 Oct 2026	WOODFORD BRENT	EVP, Control, Fin Plan & Tax	Open-market sale	$381,011.58	Form 4 for WOODFORD BRENT (opens sec.gov in a new tab)
30 Sept 2026	MCDONALD CALVIN	Director	Grant / award	$105,477.82	Form 4 for MCDONALD CALVIN (opens sec.gov in a new tab)
30 Sept 2026	Chang Amy	Director	Grant / award	$105,477.82	Form 4 for Chang Amy (opens sec.gov in a new tab)
30 Sept 2026	Barra Mary T	Director	Grant / award	$123,160.58	Form 4 for Barra Mary T (opens sec.gov in a new tab)
30 Sept 2026	Darroch Jeremy	Director	Grant / award	$100,128.94	Form 4 for Darroch Jeremy (opens sec.gov in a new tab)

A disclosure, not a signal to trade. Source: SEC EDGAR (Form 4). Older filings and the 90-day buying-and-selling read are part of Pro. See plans

Common questions

What is DIS's intrinsic value?
TickerWorth's blended fair value for The Walt Disney Company (DIS) is $88.99 per share, versus a market price of $110.59 (priced within our range of $61.18 – $139.00).
Is DIS overvalued or undervalued?
Priced within our range of $61.18 – $139.00 at $110.59. We don't call DIS overvalued or undervalued from a range. This is an educational estimate, not advice.
What discount rate is used for DIS?
A WACC of 10.1% and a terminal growth rate of 2.5%.
Is The Walt Disney stock undervalued?
TickerWorth's fair value for The Walt Disney Company (DIS) is $88.99 against a market price of $110.59. Our read: Priced within our range of $61.18 – $139.00. This is a model estimate, not investment advice.
The Walt Disney (DIS) DCF valuation and fair value
Our fair value for The Walt Disney Company (DIS) is $88.99, built on a 10.1% discount rate (WACC) and 2.5% terminal growth. It blends our discounted-cash-flow model with other valuation lenses. Every assumption is listed on this page with its source.
What growth is priced into The Walt Disney stock?
Today's price implies revenue growth of 14.2% a year for 5 years; our model assumes 5.0% a year on average over the same horizon. This is a reverse DCF: it holds our cash-flow model's other inputs and solves for the revenue growth that makes the model equal today's price of $110.59. A model estimate, not investment advice.
The Walt Disney (DIS) insider trading
The most recent insider filing (SEC Form 4) for The Walt Disney Company (DIS): WOODFORD BRENT, EVP, Control, Fin Plan & Tax, option exercise on 2026-10-08. The latest filings are listed on this page. A disclosure, not a signal to trade.