Walt Disney Co/The (DIS US) - ADVERT

In Millions of USD except Per Share FY 2012 FY 2013 FY 2014 FY 2015

12 Months Ending 09/29/2012 09/28/2013 09/27/2014 10/03/2015
Weighted Average Cost of Cap 9.79 10.10 10.32 9.44
EBIT 9,002.0 9,167.0 11,369.0 13,224.0
Eff tax rate 33.34 31.02 34.64 36.17
Depreciation & Amortization 1,987.0 2,192.0 2,288.0 2,354.0
Capital Expenditures -3,784.0 -2,796.0 -3,311.0 -4,265.0
Working Capital 896.0 2,405.0 1,877.0 424.0
Other Current Assets 2,472.0 1,724.0 2,746.0 3,305.0
Payout ratio 18.94 21.90 19.95 36.58
Return on Invested Capital 11.41 10.98 11.54 12.87
Free Cash Flow 4,182.0 6,656.0 6,469.0 6,644.0
Dividends per Share 0.60 0.75 0.86 1.81
Average Discount Rate — — — —
Dividend Net 5yr Growth Rate 14.12 16.47 19.70 30.41
Interest Expense 472.0 349.0 294.0 265.0
Total Debt 14,328.0 14,306.0 14,828.0 17,363.0
Net Operating Profit after Tax (NOPAT) 6,248.0 6,580.5 7,432.8 8,513.9
Free Cash Flow 4,182.0 6,656.0 6,469.0 6,644.0
Free Cash Flow to Equity 4,606.0 7,035.0 7,102.0 9,349.0
Short-Term Investments — — — —
Restricted Cash - Cash Flow — — — —
Prepaid Expenses — — — —
Property Plant & Equipment - Gross 17,895.0 — — —
Accumulated Depreciation 20,687.0 22,459.0 23,722.0 24,844.0
Property Plant & Equipment - Net 21,512.0 — 23,332.0 17,901.0
Goodwill 25,110.0 27,324.0 27,881.0 27,826.0
Other Current Liabilities — — — —
Total Capital Leases 301.0 292.0 262.0 222.0
LT Debt 10,697.0 12,776.0 12,631.0 12,773.0
Deferred tax liab -891.0 1,649.0 1,412.0 1,521.0
Pension/Postretirement Liabilities — — — —
Minority Interest 2,199.0 2,721.0 3,220.0 4,130.0
Other LT Liabilities 9,430.0 8,611.0 10,040.0 10,420.0
Noncur liabilities 20,127.0 21,387.0 22,671.0 23,193.0
Common Stock — — — —
Additional Paid In Capital — — — —
Retained earnings 8,028.0 11,989.0 10,657.0 9,403.0
Accumulated Other Comprehensive Income -3,266.0 -1,187.0 -1,968.0 -2,421.0
Total Equity 41,958.0 48,150.0 48,178.0 48,655.0
Tot liab & equity 74,898.0 81,241.0 84,141.0 88,182.0
Book Value 39,759.0 45,429.0 44,958.0 44,525.0
Cost of Revenue 23,468.0 25,034.0 26,420.0 28,364.0
Gross Profit 18,810.0 20,007.0 22,393.0 24,101.0
Net Income From Continuing Operations — — — —
(Net Income) Loss from Discontinued Opera — — — —
Net Income 5,682.0 6,136.0 7,501.0 8,382.0
Net Income Available To Common Sharehold 5,682.0 6,136.0 7,501.0 8,382.0
Basic EPS 3.17 3.42 4.31 4.95
Diluted EPS 3.13 3.38 4.26 4.90
Weighted Avg. Shares - Basic 1,794.0 1,792.0 1,740.0 1,694.0
# Shrs Diluted EPS 1,818.0 1,813.0 1,759.0 1,709.0
Depreciation Expenses 1,784.0 1,957.0 2,064.0 2,132.0
Repayment of Long Term Debt 0.0 0.0 -1,648.0 -2,221.0
Other Current Assets 2,472.0 1,724.0 2,746.0 3,305.0
Current Shares Outstanding 1,794.27 1,786.44 1,716.54 1,687.86
WACC Economic Value Added -728.1 2,514.4 275.3 1,941.6
WACC Total Invested Capital 59,129.0 65,438.0 67,070.0 70,770.0
Altman's Z-Score 4.68 5.23 5.90 6.01
Income Tax Expense - Other Comprehensiv 0.0 0.0 0.0 0.0
Income Tax Expense - Other Comprehensiv 0.0 0.0 0.0 0.0
Current Shares Outstanding 1,794.27 1,786.44 1,716.54 1,687.86
Source: Bloomberg
 FY 2016 FY 2017 FY 2018 Last 12M FY 2019 Est FY 2020 Est
10/01/2016 09/30/2017 09/29/2018 06/29/2019 09/30/2019 09/30/2020
8.28 8.21 8.47 6.93
14,358.0 13,873.0 14,837.0 11,783.0 13,735.9 15,290.9
34.15 32.07 11.29 19.57
2,527.0 2,782.0 3,011.0 3,658.0
-4,773.0 -3,623.0 -4,465.0 -4,768.0 -4,782.3 -4,876.4
124.0 -3,706.0 -1,035.0 -13,223.0
2,508.0 2,888.0 3,015.0 7,453.0
24.63 27.24 19.99 113.19 30.96 33.12
13.92 13.52 17.88 7.69
8,363.0 8,720.0 9,830.0 3,671.0 7,296.5 8,168.1
1.42 1.56 1.68 1.76 1.77 1.88
— — —
28.84 21.06 17.50 15.40
354.0 507.0 682.0 1,022.0
20,190.0 25,303.0 20,886.0 58,234.0
9,421.2 9,413.7 13,110.8 9,170.8
8,363.0 8,720.0 9,830.0 3,671.0 7,296.5 8,168.1
11,303.0 12,423.0 7,247.0 16,217.0
— — —
— — —
— — —
— — —
26,849.0 29,037.0 30,764.0 32,088.0
23,421.0 25,006.0 24,474.0 25,369.0
27,810.0 31,426.0 31,269.0 77,801.0
— — —
194.0 141.0 154.0
16,483.0 19,119.0 17,084.0 36,311.0
0.0 0.0 0.0
— — —
4,058.0 4,837.0 5,182.0 14,781.0
11,385.0 10,923.0 9,699.0 23,318.0
27,868.0 30,042.0 26,783.0 59,629.0
— — —
— — —
7,406.0 5,067.0 11,994.0 36,754.0
-3,979.0 -3,528.0 -3,097.0 -3,721.0
47,323.0 46,152.0 53,955.0 105,253.0
92,033.0 95,789.0 98,598.0 209,475.0
43,265.0 41,315.0 48,773.0 90,472.0
29,993.0 30,306.0 32,726.0 38,304.0
25,639.0 24,831.0 26,708.0 26,473.0 35,758.1 46,497.0
— — — 9,999.0
— — —
9,391.0 8,980.0 12,598.0 1,760.0
9,391.0 8,980.0 12,598.0 12,322.0
5.76 5.73 8.40 0.98
5.73 5.69 8.36 7.93 6.36 5.65
1,629.0 1,568.0 1,499.0 1,802.0
1,639.0 1,578.0 1,507.0 1,814.0
2,320.0 2,586.0 2,758.0 2,823.0
-3,125.0 -2,364.0 -3,639.0 -21,775.0
2,508.0 2,888.0 3,015.0 7,453.0
1,607.10 1,543.48 1,487.24 1,801.38
1,950.8 3,342.4 6,591.7 -2,213.0
71,884.0 73,936.0 76,930.0 163,487.0
5.42 5.29 6.02 2.81
0.0 0.0 0.0
0.0 0.0 0.0
1,607.10 1,543.48 1,487.24 1,801.38