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The Walt Disney Company (DIS) perpetual futures
DIS perpetual futures on 14 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade DISUSDT.
The Walt Disney Company operates globally as a diversified entertainment enterprise, divided into Disney Media and Entertainment Distribution and Disney Parks, Experiences and Products.
$119.26-0.2%NYSE open
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TradingView symbol NYSE:DIS
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Trading data
Perpetual market activity
14/14 live markets
Trading data
Perpetual market activity
Venues
14
Live markets
14/14
24h volume
$11.8MCoverage: 11/14 marketsExchange-reported volume: $20M
Open interest
$3.1MCoverage: 11/14 markets
Best liquidity
$1.7M
Bitunix
Tightest spread
+0.8 bps
Ourbit
Highest volume
$10M
Deepcoin
Settlement mix
USDT · 14/14
Perp/spot vol.
0.46x
Spot volume $26M
OI / float
0.00%
Float $205.6B
Spot performance
1D+0.41%
5D+3.74%
1M+9.34%
6M+13.17%
YTD+4.35%
1Y+10.32%
Venue matrix
14 markets
Some venue links are sponsored. We may receive a commission, and eligible users may occasionally receive trading-fee discounts, at no additional cost to you.
| Trade | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
 Binance | Trade | DIS/USDT | Trading | $119.24 | 0.0% APR 0.000% every 8h | +3.4 bps | $551.6K | $480.8K | $798.1K | USDT | - | |
 GRVT | Trade | DIS/USDT | Trading | $119.22 | +16.1% APR +0.015% every 8h | +6.7 bps | $241K | $279.6K | $1.1K | USDT | - | |
 MEXC | Trade | DIS/USDT | Trading | $119.26 | 0.0% APR 0.000% every 8h | +0.8 bps | $99.1K | $105K | $366.5K | USDT | 20x | |
 Bitunix | Trade | DIS/USDT | Trading | $119.26 | +3.6% APR +0.00331% every 8h | +0.8 bps | $1.7M | $84.4K | $32.2K | USDT | 20x | |
 XT.com | Trade | DIS/USDT | Trading | $119.27 | 0.0% APR 0.000% every 8h | +2.5 bps | $304.5K | $69.1K | - | USDT | 15x | |
 HTX | Trade | DIS/USDT | Trading | $119.26 | 0.0% APR 0.000% every 8h | +96.7 bps | $21.9K | $47.7K | $5.4K | USDT | - | |
 Phemex | Trade | DIS / USDT | Trading | $119.29 | -7.1% APR -0.00652% every 8h | +5.9 bps | $31.3K | $33.8K | $1.5M | USDT | 10x | |
 Gate.io | Trade | DIS/USDT | Trading | $119.23 | 0.0% APR 0.000% every 8h | +16.8 bps | $12K | $3.2K | $143.2K | USDT | 20x | |
 Aster | Trade | DISUSDT | Trading | $119.23 | 0.0% APR 0.000% every 8h | +14.3 bps | $16.7K | $15.5 | $2.7K | USDT | - | |
 Deepcoin | Trade | DIS/USDT | Trading | $119.25 | -11.0% APR -0.010% every 8h | +4.2 bps | $422.4K | $10M | - | USDT | 25x | |
 BingX | Trade | DISNEY-USDT | Trading | $119.26 | +0.2% APR +0.00020% every 8h | +5.0 bps | $649.5K15 min | $685.7K | - | USDT | - | |
 Ourbit | Trade | DIS/USDT | Trading | $119.25 | 0.0% APR 0.000% every 8h | +0.8 bps | $212.2K | $7M⚠ | $130.3K | USDT | 20x | |
 KuCoin | Trade | DIS/USDT | Trading | $119.18 | 0.0% APR 0.000% every 8h | +37.8 bps | $8.8K | $629.3K⚠ | $64.3K | USDT | 20x | |
 LBank | Trade | DIS/USDT | Trading | $119.25 | 0.0% APR 0.000% every 8h | +3.4 bps | $549.7K | $510.4K⚠ | $6K | USDT | 50x |
Unverified volume: implausibly high against open interest, a typical sign of wash trading. These venues are listed last.
Tokenized wrappers of the real stock, tradable on-chain and on crypto exchanges around the clock. Premium/discount compares the token price to our stock reference price. Data: CoinMarketCap · Robinhood · DexScreener · GeckoTerminal.
| Product | Price | Premium vs stock | 24h Vol. | Market Cap | Chains |
|---|---|---|---|---|---|
| DISonOndo GM | $119.81 | +0.46% | $260k | $1.1M | Ethereum · BNB Smart Chain (BEP20) · Solana |
| DISRobinhood | – | – | – | $78k | Robinhood Chain |
| Exchange | Pair | Price | 24h Vol. | Liquidity |
|---|---|---|---|---|
 uniswapDEX · robinhood | DIS/USDG ↗ | – | – | – |
Tradability
Execution quality
Entry cost and depth per venue at $1k–$100k
Tradability
Execution quality
Entry cost and depth per venue at $1k–$100kBroad liquidity · 11 of 14 venues absorb $10k · Typical cost: +9.1 bps – +13.4 bps
Too thin: Aster, Gate.io, KuCoin
Taker execution estimate incl. approx. fees - maker fills are not guaranteed.
Best venues for this underlying
Best liquidity
DISTightest spread
DISHighest volume
DISFunding history
Stored venue snapshots by market
Funding history
Stored venue snapshots by marketNext catalyst
Catalysts
Next catalyst
Catalysts
Earnings
2026-11-17
Revenue est. $25.2B · Updated 31m ago
Dividend
$0.75
2026-06-30
No unusual perp activity right now.
Reference data
Market context
Reference data
Market context
New York Stock Exchange
Extended-hours reference
Bid118.66
Ask119.04
Volume1,048,021
Research data
Analysts, filings and peer context
Research data
Analysts, filings and peer context
Estimates
6DateEPS estimateRevenue estimateGrowthAnalysts
FY 20266.92$101.5B+8%19
FY 20277.51$106.3B+5%17
FY 20288.46$111B+4%12
FY 20299.42$115.5B+4%3
FY 203010.79$121.2B+5%1
Q4 20282.66$30.8B+37%5
Source: FMP · Consensus
Company events
62026-11-17Earnings · Before market openActual - / Estimate 1.68-
2026-08-05EarningsActual 2.06 / Estimate 1.86Beat
2026-06-30Dividend$0.75-
2026-05-06EarningsActual 1.57 / Estimate 1.49Beat
2026-02-02EarningsActual 1.63 / Estimate 1.57Beat
2025-12-15Dividend$0.75-
Peer comparison
Similar listed perpsRevenue mix
Latest annualSubscription and affiliate feesProduct$37.8B
Theme park admissionsProduct$11.7B
AdvertisingProduct$11.1B
AmericasGeographic$76.4B
EuropeGeographic$11.1B
Asia PacificGeographic$6.9B
Analysts
Price targets in USD| Consensus rating | Buy |
|---|---|
| Average 12-month price target | $120.88 |
| 12-month target range (low – high) | $111 – $132 |
| Ratings in the provider's consensus | 64 |
Price targets as of 2026-11-12
Analyst rating history
Ratings| Month | Strong buy | Buy | Hold | Sell | Strong sell |
|---|---|---|---|---|---|
| Nov 2026 | 6 | 23 | 4 | 1 | 0 |
| Oct 2026 | 6 | 23 | 3 | 1 | 0 |
| Sep 2026 | 6 | 24 | 3 | 1 | 0 |
| Aug 2026 | 6 | 24 | 2 | 1 | 0 |
| Jul 2026 | 6 | 22 | 2 | 1 | 0 |
| Jun 2026 | 6 | 21 | 2 | 1 | 0 |
| May 2026 | 7 | 21 | 3 | 1 | 0 |
| Apr 2026 | 7 | 20 | 4 | 1 | 0 |
| Mar 2026 | 6 | 20 | 4 | 1 | 0 |
| Feb 2026 | 6 | 21 | 5 | 1 | 0 |
| Jan 2026 | 5 | 21 | 6 | 1 | 0 |
| Dec 2025 | 5 | 20 | 6 | 1 | 0 |
Ownership
Institutional · 2026-Q3Free float99.8%1.7B shares
Shares outstanding1.7B shares
Institutional34.8%2,369 investors
Investor count change-704
Reference market activity
DIS-PERPDay range (Nov 13)$118.24$118.92
52 week$92.19$120.8
Spot volume218K
Average volume-
Price performance
111D+0.4%
5D+3.7%
1M+9.3%
3M+13.3%
6M+13.2%
YTD+4.4%
1Y+10.3%
3Y+32.7%
5Y-25.1%
10Y+21.2%
MAX+127,682.3%
Insider activity
FY2026 Q4Acquisitions5 transactions16,566 shares
Dispositions10 transactions50,828 shares
Purchases0Ratio 0.5
Sales5
Insider transactions
25DateReporting persontransactionssharesPriceFilings
Disney officer Horacio E. Gutierrez sold 20,552 common shares at $120 in one open-market sale (code S), leaving 37,765 shares owned.
Disney officer Brent Woodford exercised 3,618 options at $105.21 and sold the same 3,618 shares at $117, leaving 62,995 shares owned.
Disney officer Woodford Brent exercised options over 6,474 common shares at $105.21-$111.58 and sold 3,618 shares at $111.98, leaving 62,995 shares held.
Disney EVP Brent Woodford exercised options on 2,856 shares at $111.58 and sold the same 2,856 shares at $111.68, leaving 62,995 shares owned.
On 2026-10-08, officer WOODFORD BRENT exercised stock options for 3,618 Disney common shares at $105.21 and sold 3,618 shares at $105.31. Holdings after: 62,995 common shares; option balance 7,236.
Director Calvin McDonald received an award of 1,006 shares of Disney Common Stock on 2026-09-30 at $104.88 per share, bringing direct holdings to 30,595 shares. This is a compensation grant, not an open-market purchase.
Disney director Amy Chang received an award of 1,006 common shares at $104.88 on 2026-09-30, leaving her with 17,761 shares owned.
Disney director Mary T. Barra received a grant (A-Award) of 1,174 common shares at $104.88 on 2026-09-30, bringing her holdings to 28,940 shares.
Director Darroch Jeremy received 955 Disney common shares as an award (A) at $104.88 and had 122 shares withheld for taxes (F) at $105.65 on 2026-09-30, leaving 10,162 shares.
Disney director Carolyn Everson received a grant of 995 shares of Disney Common Stock (code A) at $104.88 per share on Sept 30, 2026, bringing her holdings to 13,681 shares. An award is compensation, not an open-market purchase.
Disney director James P. Gorman received a grant of 1,386 common shares at $104.88 on 2026-09-30, leaving him with 11,962 shares owned.
Disney director Maria Elena Lagomasino received an award of 1,167 common shares at $104.88 on Sep 30, 2026, leaving 38,907 shares owned.
Disney director Froman Michael B. G. received an award of 1,003 common shares at $104.88 on 2026-09-30, holding 25,192 shares after.
Disney director Derica W. Rice received a grant of 1,152 shares of Disney Common Stock at $104.88 per share (A-Award, not an open-market purchase), bringing her holdings to 24,894 shares.
Filings
56 · Latest SEC filings2026-11-064Insider transaction report (Form 4)
Disney officer Horacio E. Gutierrez sold 20,552 common shares at $120 in one open-market sale (code S), leaving 37,765 shares owned.
2026-11-054Insider transaction report (Form 4)
Disney officer Brent Woodford exercised 3,618 options at $105.21 and sold the same 3,618 shares at $117, leaving 62,995 shares owned.
2026-11-034Insider transaction report (Form 4)
Disney officer Woodford Brent exercised options over 6,474 common shares at $105.21-$111.58 and sold 3,618 shares at $111.98, leaving 62,995 shares held.
2026-10-194Insider transaction report (Form 4)
Disney EVP Brent Woodford exercised options on 2,856 shares at $111.58 and sold the same 2,856 shares at $111.68, leaving 62,995 shares owned.
2026-10-094Insider transaction report (Form 4)
On 2026-10-08, officer WOODFORD BRENT exercised stock options for 3,618 Disney common shares at $105.21 and sold 3,618 shares at $105.31. Holdings after: 62,995 common shares; option balance 7,236.
2026-10-024Insider transaction report (Form 4)
Disney director James P. Gorman received a grant of 1,386 common shares at $104.88 on 2026-09-30, leaving him with 11,962 shares owned.
2026-10-024Insider transaction report (Form 4)
Director Calvin McDonald received an award of 1,006 shares of Disney Common Stock on 2026-09-30 at $104.88 per share, bringing direct holdings to 30,595 shares. This is a compensation grant, not an open-market purchase.
2026-10-024Insider transaction report (Form 4)
Disney director Maria Elena Lagomasino received an award of 1,167 common shares at $104.88 on Sep 30, 2026, leaving 38,907 shares owned.
2026-10-024Insider transaction report (Form 4)
Disney director Froman Michael B. G. received an award of 1,003 common shares at $104.88 on 2026-09-30, holding 25,192 shares after.
2026-10-024Insider transaction report (Form 4)
Disney director Derica W. Rice received a grant of 1,152 shares of Disney Common Stock at $104.88 per share (A-Award, not an open-market purchase), bringing her holdings to 24,894 shares.
2026-10-024Insider transaction report (Form 4)
Disney director Amy Chang received an award of 1,006 common shares at $104.88 on 2026-09-30, leaving her with 17,761 shares owned.
2026-10-024Insider transaction report (Form 4)
Disney director Mary T. Barra received a grant (A-Award) of 1,174 common shares at $104.88 on 2026-09-30, bringing her holdings to 28,940 shares.
2026-10-024Insider transaction report (Form 4)
Director Darroch Jeremy received 955 Disney common shares as an award (A) at $104.88 and had 122 shares withheld for taxes (F) at $105.65 on 2026-09-30, leaving 10,162 shares.
2026-10-024Insider transaction report (Form 4)
Disney director Jeffrey E. Williams received a 925-share award of Disney common stock at $104.88 per share, bringing his holdings to 2,034 shares.
2026-10-024Insider transaction report (Form 4)
Disney director Carolyn Everson received a grant of 995 shares of Disney Common Stock (code A) at $104.88 per share on Sept 30, 2026, bringing her holdings to 13,681 shares. An award is compensation, not an open-market purchase.
2026-09-254Insider transaction report (Form 4)
Disney officer Brent Woodford converted 1,060 restricted stock units into 1,060 common shares, then 393 shares were withheld for tax at $103.66, leaving 62,995 shares owned.
2026-09-034Insider transaction report (Form 4)
On 2026-09-01, an officer exercised stock options to acquire 3,618 shares, then sold the same 3,618 shares on the open market.
2026-08-204Insider transaction report (Form 4)
On Aug 19, 2026, officer Paul M. Roeder sold 3,596 Disney common shares at $106.32 each, a total of about $382k.
2026-08-174Insider transaction report (Form 4)
Disney officer Brent Woodford exercised options on 7,238 common shares at $105.21 and sold the same 7,238 shares at $105.31, leaving 62,323 shares owned.
2026-07-204Insider transaction report (Form 4)
Disney officer Woodford Brent converted 1,162 restricted stock units into 1,162 common shares, then had 362 shares withheld for taxes at $98.42. He held 62,323 shares afterward.
2026-07-204Insider transaction report (Form 4)
Disney officer Paul M. Roeder converted 955 restricted stock units into 955 common shares and had 343 shares withheld for taxes at $98.42, leaving 3,593 shares owned.
2026-07-204Insider transaction report (Form 4)
Sonia L. Coleman (Sr. EVP & Chief People Officer) converted 1,181 RSUs into 1,181 Disney common shares, then had 559 shares withheld to cover taxes at $98.42 per share.
2026-07-164Insider transaction report (Form 4)
Brent Woodford converted 3,827 RSUs into 3,827 Disney common shares, and 933 shares were withheld for taxes at $97 per share.
2026-07-164Insider transaction report (Form 4)
Disney officer Paul M. Roeder converted 3,115 restricted stock units into 3,115 common shares and had 1,119 shares withheld for taxes at $97.
2026-07-024Insider transaction report (Form 4)
Disney director Amy Chang was awarded 955 shares of Disney common stock (a compensation grant, not an open-market purchase) at $100.8, bringing her total ownership to 16,756 shares.
2026-07-024Insider transaction report (Form 4)
Director Jeremy Darroch reported an award of 955 Disney common shares and a tax withholding disposal of 113 shares on 2026-06-30.
2026-07-024Insider transaction report (Form 4)
Disney director Carolyn Everson was awarded 955 shares of common stock as compensation, referenced at $100.8/share. She now owns 12,687 shares directly.
2026-07-024Insider transaction report (Form 4)
Director Jeffrey E. Williams received an award grant of 955 Disney common shares at $100.8, bringing his total ownership to 1,109 shares.
2026-07-024Insider transaction report (Form 4)
Disney director Derica Rice was awarded 1,023 shares of common stock (compensation grant, not an open-market purchase) at a reference price of $100.80, bringing her total ownership to 23,742 shares.
2026-07-024Insider transaction report (Form 4)
Disney director Michael B. G. Froman received an award of 1,004 common shares on 2026-06-30, bringing his total holdings to 24,188 shares.
2026-07-024Insider transaction report (Form 4)
Director Maria Elena Lagomasino was granted 955 Disney common shares as compensation on 2026-06-30 at $100.80 per share, bringing her total holdings to 37,740 shares.
2026-07-024Insider transaction report (Form 4)
Director James P. Gorman was awarded 1,364 shares of Disney common stock on 2026-06-30, valued at $100.8 per share. He now owns 10,576 shares directly.
2026-07-024Insider transaction report (Form 4)
Calvin McDonald, a Disney director, was awarded 955 shares of Disney common stock (valued around $100.8) on 2026-06-30, bringing his total holdings to 29,589 shares.
2026-07-024Insider transaction report (Form 4)
Director Mary T. Barra was awarded 1,017 shares of Disney common stock at $100.80 on 2026-06-30, bringing her total ownership to 27,766 shares.
2026-06-254Insider transaction report (Form 4)
Sonia Coleman, Disney's Chief People Officer, exercised options for 4,079 shares on 6/23. 1,464 shares were then withheld to cover taxes at $102.92 each, leaving 3,135 shares owned afterward.
2026-06-244Insider transaction report (Form 4)
Sonia L. Coleman, Disney's Sr. EVP & Chief People Officer, reported: 1,720 RSUs awarded; 809 RSUs converted into common stock; 291 shares sold to cover taxes at $102.92 each.
2026-06-164Insider transaction report (Form 4)
Roeder Paul M, officer of Disney, converted 1,533 RSUs into 1,533 common shares (M), and 550 common shares were disposed of at $101.495 to cover taxes (F).
2026-06-164Insider transaction report (Form 4)
On June 15, 2026, officer Brent Woodford converted 2,215 restricted stock units into 2,215 common shares. 488 shares were withheld for taxes at $101.495. Net ownership: 58,629 shares.
2026-04-024Insider transaction report (Form 4)
Director Darroch Jeremy reported a grant of 1,034 Disney shares (Award), 89 shares withheld for taxes (F), and 381 shares returned (D), totaling 1,034 acquired and 470 disposed.
2026-04-024Insider transaction report (Form 4)
Director Derica W. Rice received a grant of 1,230 Disney common shares (Award, $96.96 each) on 2026-03-31, now holding 22,719 shares.
2026-04-024Insider transaction report (Form 4)
Director Amy Chang received a grant of 1,081 Disney common shares at $96.96 per share, increasing her holdings to 15,801 shares.
2026-04-024Insider transaction report (Form 4)
Director Mary T. Barra received a grant of 1,253 Disney common shares at $96.96 each, now holding 26,749 shares.
2026-04-024Insider transaction report (Form 4)
Director James P. Gorman received an award of 1,477 Disney common shares (price $96.96) on March 31, 2026, now holding 9,212 shares.
2026-04-024Insider transaction report (Form 4)
Director Calvin McDonald received a grant of 1,081 Disney common shares on March 31, 2026, at a price of $96.96 per share, increasing his holdings to 28,635 shares.
2026-04-024Insider transaction report (Form 4)
Director Maria Elena Lagomasino received a grant of 1,267 Disney common shares (Award) at $96.96 each on 2026-03-31, increasing her holdings to 36,785 shares.
2026-04-024Insider transaction report (Form 4)
Director Everson Carolyn received an award of 1,065 Disney common shares at $96.96 per share on March 31, 2026, increasing holdings to 11,732 shares.
2026-04-024Insider transaction report (Form 4)
Director Jeffrey E. Williams received a grant of 154 Disney common shares at $96.96 each on March 31, 2026, now holding 154 shares.
2026-04-024Insider transaction report (Form 4)
Director Michael B. G. Froman received a grant of 1,088 Disney common shares on March 31, 2026, owning 23,184 shares afterward.
Transcripts
Earnings callsFY2026 Q32026-08-05
Earnings calls
AI summary
positiveThe Walt Disney Company delivered strong fiscal Q3 2026 results, with total segment operating income up 21% and total company revenue growth of 7%. Disney Experiences achieved record fiscal Q3 revenue and segment operating income, driven by 4% global guest growth and 3% domestic parks attendance growth combined with 4% per capita spending increases. The company demonstrated operational strength across its core platforms: Disney Experiences benefited from robust domestic parks performance, Disney Cruise Line expansion with new ships performing well, and international parks like Disneyland Paris succeeding with new attractions. Disney+ reached an important milestone in app unification, with Hulu subscribers now able to link profiles and manage subscriptions on Disney+, while achieving 13% SVOD operating margin in Q3. ESPN delivered strong viewership with NBA Finals reaching a 28-year high and the most watched first half of the calendar year since 2012. Despite mixed theatrical performance from films including The Mandalorian and Grogu and live-action Moana, the company's diversified business model enabled it to outperform consolidated guidance and reiterate full-year outlook, demonst
Key takeaways
- Disney Experiences delivered record Q3 revenue of $10 billion, up 10% year-over-year, with operating income records driven by 4% global guest growth, 3% domestic attendance growth, and 4% per capita spending growth
- Disney+ reached critical integration milestone enabling Hulu subscribers to link profiles and manage subscriptions on Disney+ platform, with 13% SVOD operating margin achieved in Q3 and double-digit margins expected in fiscal 2026 excluding 53rd week impact
- Company executing integrated One Disney operating model demonstrating IP value across multiple touchpoints, exemplified by Toy Story franchise generating over $4 billion in box office, 2 billion hours streamed, and $1 billion in annual retail sales across 4 lands, 19 attractions, and 2 hotels
- ESPN generated most watched first half of calendar year since 2012, with NBA Finals achieving 28-year viewership high and over 100% growth in NBA Finals and NHL post-season viewership across ESPN and ABC platforms
- Company maintaining disciplined capital allocation with $9 billion fiscal 2026 CapEx focused on expanding capacity and delivering double-digit returns through major attractions including Villains Land in Orlando and Avengers Campus expansion in Anaheim
Financial highlights
- Total segment operating income up 21% with total company revenue growth of 7% in fiscal Q3 2026
- Disney Experiences achieved record fiscal Q3 revenue of $10 billion, up 10% year-over-year, with record segment operating income
- Disney+ delivered 13% SVOD operating margin in Q3 with company on track for double-digit margins in fiscal 2026 excluding 53rd week impact
- Gross guest growth of 4% globally and 3% attendance growth at domestic parks with 4% growth in per capita spending at domestic parks, outperforming competitive market
Guidance
- Company reiterating full year fiscal 2026 outlook with segment operating income growth at high end of previously provided high-single-digit guidance for Experiences segment, excluding 53rd week
- Reaffirming double-digit adjusted EPS growth for fiscal 2026 and fiscal 2027
- Increasing share repurchase program from approximately $7 billion to at least $9 billion in fiscal 2026, utilizing cash from OpenAI transaction and expected proceeds from A&E sale
- On track to spend $24 billion in content across company in fiscal 2026, with plans to grow content spending from current levels over time, particularly in international markets
Q&A themes
- Experiences segment demonstrating balanced growth through both volume and yield optimization, with new attractions and cruise ship expansion delivering strong returns; company achieving 4% global guest growth while raising per capita spending 4%, indicating successful monetization strategy without reliance on discounting
- Disney+ and Hulu integration progressing with major milestone reached in Q3 allowing profile linking and unified experience, with plans to integrate live TV and add-ons by end of calendar year and introduce expanded ecosystem elements including games and merchandise in spring 2027
- Mixed theatrical performance from films including The Mandalorian and Grogu and live-action Moana absorbed by diversified business model, with company demonstrating theatrical is one data point in broader IP strategy generating value across streaming, parks, and consumer products
- AI and technology investment across enterprise as strategic priority, including AI-powered production efficiency in studios, personalization improvements on Disney+, SportsCenter personalization at ESPN, and next-generation robotics in parks experiences
Risks
- International market weakness continuing in Asia with weaker consumer demand at Shanghai and Hong Kong parks in Q3 and continuing into Q4, offsetting strong domestic tourism and local resident growth
- Streaming advertising market characterized as competitive with pricing pressure for Disney and others due to growth in content supply, evident in SVOD ad sales growth rate deceleration in Q3, particularly impacting streaming margins
- Geopolitical uncertainties and macroeconomic volatility including fuel cost fluctuations and Middle East conflict potential impacts, though Disney managing fuel exposure through hedging program and efficiency initiatives with minimal current year impact
FY2026 Q22026-05-06
Earnings calls
AI summary
positiveDisney delivered stronger-than-expected Q2 results driven by broad-based revenue outperformance across streaming and experiences. New CEO Josh D'Amaro outlined strategic priorities centered on creative excellence, streaming optimization, live sports expansion, and connected consumer experiences with Disney+ at the center. The company expects improving domestic park attendance in Q3 as it laps prior-year headwinds.
Key takeaways
- Entertainment SVOD revenue growth accelerated to 13% in Q2 from 11% in Q1, driven by rate and volume, with double-digit advertising growth and Disney+ achieving double-digit profitability
- Disney Experiences delivered record second quarter results with 7% revenue growth and 5% segment operating income growth despite international and Epic Universe headwinds
- CEO D'Amaro's strategic priorities: creative storytelling, streaming business strengthening, ESPN direct-to-consumer expansion, and Disney Experiences growth; longer-term focus on connected fan experience with Disney+ as digital centerpiece
- Domestic park attendance declined 1% in Q2 but expected to improve in Q3 as company laps headwinds; global guest metrics grew 2%+; World of Frozen opening in Paris met strong demand
- Company expects 12% adjusted EPS growth for FY2026 and double-digit adjusted EPS growth for FY2027, both excluding 53rd week impact
Financial highlights
- Q2 FY2026 total revenue growth 7%, segment operating income growth 4% versus prior year
- Entertainment SVOD revenue growth 13% in Q2, accelerated from 11% in Q1; advertising revenue grew double-digits year-over-year
- Disney Experiences revenue up 7%, segment operating income up 5%; attendance in domestic parks down 1%
- 53rd week impact represents approximately 2% benefit to full year revenues with modest margin uplift delivering approximately 4% overall benefit
Guidance
- FY2026 adjusted EPS growth of 12% expected (excluding 53rd week impact)
- FY2027 double-digit adjusted EPS growth expected (excluding 53rd week impact)
- Domestic parks attendance expected to improve in Q3 compared to prior year as international visitation and Epic Universe headwinds ease
- Forward bookings for Disney World and Disney Cruise Line described as very encouraging with strong pacing
Q&A themes
- Disney+ positioned as digital centerpiece connecting entertainment, sports, experiences and games; emphasizes fan lifetime value model extending across parks, streaming, merchandise and games
- Engagement growth driven by content quality, product enhancements reducing user friction, and personalized discovery; reducing churn identified as single most significant value opportunity
- Short-form and user-generated content viewed as important engagement driver, particularly for Gen Alpha audiences; company experimenting with creator-led initiatives and introducing vertical video format
- AI integration across personalized recommendations, ad targeting, workforce forecasting and guest experience planning while maintaining human creativity at center; ESPN networks and sports viewed as strategically important to overall streaming strategy with scale advantage in U.S. market
Risks
- Company notes macro uncertainty including potential elevated fuel prices and gasoline costs that could impact consumer behavior, though not yet observed in forward bookings
- Competitive streaming marketplace and ongoing cord-cutting pressures require continued investment in content and technology to drive engagement and reduce churn
- International visitation headwinds and Epic Universe opening impacts expected to ease but represent near-term attendance variability at domestic parks
FY2026 Q12026-02-02
Earnings calls
AI summary
positiveDisney delivered solid Q1 results with experiences revenue exceeding $10 billion for the first time, streaming achieving 12% revenue growth with 50% earnings growth targeting 10% margins, and entertainment generating $6.5 billion in global box office in calendar 2025. The company is expanding parks globally, launching ESPN Limited streaming service, and closing its NFL Network acquisition while maintaining confidence in long-term growth across both experiences and entertainment segments.
Key takeaways
- Film studios generated $6.5 billion global box office in calendar 2025, third biggest year ever, with three $1 billion+ titles including Zootopia 2 becoming highest-grossing animated film ever at $1.7 billion
- Experiences segment revenue exceeded $10 billion quarterly for first time; Walt Disney World saw strong attendance and pricing; full-year bookings up 5% weighted toward back half
- Streaming segment delivered 12% revenue growth with over 50% earnings growth; targeting 10% margins this year versus 5% last year
- ESPN Limited launched with strong early adoption; NFL Network deal closed, enabling ESPN's first Super Bowl and enhanced streaming inventory
- Upcoming theatrical slate includes Devil Wears Prada 2, Mandalorian and Grogu, Toy Story 5, live-action Moana, Avengers: Doomsday; Frozen land opens at Disneyland Paris next month
Financial highlights
- Experiences segment quarterly revenue exceeded $10 billion for the first time
- Film studios generated $6.5 billion global box office in calendar year 2025
- 37 of 60 industry $1 billion+ films came from Disney studios
- Streaming achieved 12% revenue growth with over 50% earnings growth in Q1; targeting 10% operating margin this year
Guidance
- Entertainment segment operating income guidance varies by quarter, with Q2 impacted by network show launches and back half driven by strong theatrical slate
- Streaming targeting double-digit revenue growth and 10% operating margin for the year
- Disney Plus and Hulu unified app experience expected sometime end of calendar year
- Sora-generated content expected to launch on Disney Plus sometime in fiscal 2026; maintaining 30-second video limit for current three-year agreement
Q&A themes
- IP valuation and monetization strategy: CEO emphasized Disney's extensive IP portfolio and returns from parks expansion, theatrical releases, and streaming rather than pursuing major acquisitions
- Streaming profitability and bundle strategy: Bundled subscribers show lower churn; integrated Disney Plus and Hulu experience reducing churn; trio bundle with ESPN performing well
- Parks attendance and international visibility: Walt Disney World performed well with strong attendance and pricing; international visitation monitoring challenges addressed through domestic marketing pivot
- AI and OpenAI partnership: Three-year licensing agreement for Sora-generated short-form content on Disney Plus covering 250 characters with 30-second videos; potential for subscriber-created content using Sora tools
Risks
- International park visitation has less visibility than domestic bookings, requiring adjusted marketing and promotional strategies
- Streaming business remains capital intensive with continued investment in international content and technology despite achievement of profitability targets
FY2025 Q42025-11-13
Earnings calls
AI summary
positiveDisney achieved adjusted EPS growth of 19% in fiscal 2025 with a 19% three-year CAGR, while the direct-to-consumer business reached $1.3 billion in operating income, up $1.2 billion year-over-year and $300 million ahead of guidance. The company expects double-digit adjusted EPS growth in FY2026 and is doubling share repurchases to $7 billion while increasing the dividend 50% to $1.5 per share. ESPN's direct-to-consumer launch has attracted substantial new subscribers with 80% signing up for the Trio bundle including Disney Plus and Hulu.
Key takeaways
- Adjusted EPS grew 19% in FY2025 with guidance for double-digit growth in FY2026; three-year adjusted EPS CAGR of 19%
- DTC operating income reached $1.3 billion in FY2025, up $1.2 billion from prior year and $300 million ahead of original guidance
- Disney's live-action Lilo and Stitch became the highest-grossing Hollywood film globally in calendar 2025 and the second-biggest Disney live-action premiere on Disney Plus with 14.3 million views in first five days
- Walt Disney Studios crossed $4 billion at global box office for the fourth consecutive year; delivered four $1 billion+ franchise hits over two years while no other Hollywood studio achieved a single one
- ESPN direct-to-consumer launch saw strong adoption with 80% of new subscribers purchasing the Trio bundle (ESPN, Disney Plus, Hulu)
Financial highlights
- FY2025 adjusted EPS up 19% from FY2024; three-year adjusted EPS compound annual growth rate of 19%
- DTC operating income of $1.3 billion in FY2025, up $1.2 billion from prior year and $300 million ahead of original guidance
- Experiences segment achieved record operating income for Q4 and full year, with Q4 operating income up 13% and full year up 8%
- FY2025 free cash flow expected to show approximately 28% growth year-over-year on an underlying basis (reported 7% due to tax timing); reported operating cash flow guidance for FY2026 of $24.6 billion
Guidance
- FY2026 double-digit adjusted EPS growth expected compared to prior year
- FY2026 share repurchases targeted at $7 billion, double the $3.5 billion repurchased in FY2025
- Cash dividend increased 50% to $1.5 per share
- DTC aspiration is to achieve double-digit revenue growth in FY2026 with margin expansion
Q&A themes
- ESPN direct-to-consumer service successfully launched with strong new user acquisition, 80% adopting Trio bundle, and positive advertiser response; authentication rates from existing linear subscribers described as very encouraging
- Film studio slate for FY2026 described as about as strong as it has been, including Zootopia 2, Avatar: Fire and Ash, The Mandalorian and Grogu, Toy Story 5, live-action Moana, and Avengers: Doomsday
- Disney Plus being transformed into a portal to all things Disney through AI deployment, personalization improvements, and integration opportunities for parks, hotels, cruises, and games partnerships with Epic Games
- Bundling (especially Trio bundle with Disney Plus, Hulu, and ESPN) demonstrated lower churn rates than single-app subscriptions; Disney also bundling with Max and open to more bundling partnerships
Risks
- YouTube TV carriage dispute ongoing with unpredictable resolution timeline; company has provisioned a hedge in FY2026 guidance but impact depends on negotiation outcome and subscriber migration patterns
- Film business acknowledged as inherently risky with statement that not every film works; Q1 FY2026 guidance reflects overlapping from prior year Avatar release rather than weakness in upcoming slate
FY2025 Q32025-08-06
Earnings calls
AI summary
positiveDisney is combining Hulu into Disney+ to create a unified streaming app with branded entertainment, news, and sports, while launching ESPN's direct-to-consumer platform on August 21. The company acquired NFL Network and expanded NFL rights in exchange for a 10% equity stake to ESPN, positioning the service as a comprehensive sports destination. Strong Q3 results in theatrical releases and theme parks drove optimism about growth across all business segments.
Key takeaways
- Hulu will be fully integrated into Disney+ next year, creating a unified app with Disney brands, general entertainment, news, and sports; Hulu will replace Star tile internationally in fall
- ESPN launching direct-to-consumer offering August 21 with multiview, personalization, fantasy, betting, and commerce features; Disney+/Hulu/ESPN bundle priced at $29.99
- ESPN acquiring NFL Network and certain NFL media assets with NFL receiving 10% equity stake; deal expands to 28 NFL game windows (up from 22) and includes RedZone bundling capability
- Lilo & Stitch crossed $1 billion worldwide box office, becoming Disney's fourth billion-dollar film in over a year; Fantastic Four: First Steps launched successfully two weeks ago
- Theme park expansions underway globally including World of Frozen at Disneyland Paris (2026), Villains and Cars areas at Magic Kingdom, and new Abu Dhabi theme park; two new cruise ships (Disney Destiny and Disney Adventure) launching later in 2025
Financial highlights
- Lilo & Stitch became Hollywood's first film to reach $1 billion box office milestone this year
- Walt Disney World achieved record Q3 revenue
- Domestic theme parks reported 8% per capita growth, strongest in over 2 years
- Cruise ships half-booked for next year with newer ships showing even higher booking levels
Guidance
- Full year earnings guidance raised; detailed guidance updated to $585 million for overall company
- NFL deal expected to be approximately $0.05 accretive on EPS basis before purchase accounting, closing expected end of calendar year 2025
- No material change expected to prior year '26 double-digit EPS growth and low single-digit operating income growth guidance for sports
- Fourth quarter Experiences bookings up approximately 6%
Q&A themes
- Integrated Disney+/Hulu offering expected to reduce churn through improved consumer experience, operational efficiencies, enhanced personalization, and expanded advertising revenue opportunities
- ESPN DTC bundle at $29.99 positioned to accelerate subscriber growth and engagement, with ability to bundle NFL+ Premium including RedZone to reduce churn
- Disney Cruise Line Singapore ship (7,000 passengers vs. 4,000 on current ships) sold out quickly in initial sales period and opens access to Southeast Asian market
- Content spend expected to remain flat domestically but with selective international investments in high-potential markets using rifle-shot approach rather than broad expansion
Risks
- China theme park business facing consumer stress impacting per capita despite stable attendance
- Q4 content segment faces tough comparison due to Inside Out 2 overlap from prior year
- New cruise ship launches will carry launch-related costs in earlier part of fiscal 2026
FY2025 Q22025-05-07
Earnings calls
Company news
Reuters, WSJ, Bloomberg and FT first, as far as our news provider delivers them; other publishers behind the second filter. Headlines link to the publisher.- Disney, Adobe to co-develop custom AI models tailored for media giant
- Disney eyes thousands of layoffs, managers asked to cut 20% in costs, Bloomberg News reports
- ‘Glee' to return in reboot for Disney+ and Hulu
- Justice Department Probes TV Networks Over Suspension of Trump Press Pool Coverage
- Disney+ to Stream 2027 Super Bowl
- US judge to hold hearing on Disney bid to block FCC license review
- Disney's Top Lawyer Is a ‘Pragmatist' Facing His Biggest Fight Yet
- Disney licenses lineup of movies, TV shows to Netflix including 'Ice Age,' 'Will Trent'
- Disney Planning TV Restructuring as Streamlining Continues
- Would-be Taylor Swift concert attacker loses privacy case against Disney
Company data
Company intelligence
Updated: Nov 13, 2026, 10:33 AM UTC
Company data
Company intelligence
Company profile
- Sector
- Communication Services
- Industry
- Entertainment
- Chief executive
- Josh D'Amaro
- Employees
- 194,040
- IPO date
- Nov 12, 1957
- Country
- US
- Exchange
- New York Stock Exchange
Altman Z-scorei2.56
Piotroski scorei7/9
Overall ratingiB+
Owner earningsi$3.77B$2.16 per share
ESG risk ratingiBIndustry rank: 20/57
Rating factors
- Return on equityi
- 3/5
- Return on assetsi
- 4/5
- Debt to equityi
- 3/5
- Price to earningsi
- 2/5
- Price to booki
- 3/5
Company press releases
Hailee Steinfeld, Rashida Jones, Jodie Foster and More Celebrate the Magic of “Disney's Hexed” at the World Premiere in Los AngelesBusiness WireUtopai Studios Names Disney AI Strategy Leader Hans Ku as Chief Product OfficerBusiness WireSpecial Screening of “Everest: The Other Side” Monday, October 26 at New York's IMAX Lincoln SquareBusiness WireCharacter.ai Initiates Voluntary Chapter 11 Proceeding to Facilitate Value-Maximizing Sale ProcessBusiness WireThe Walt Disney Company Executives to Discuss Fiscal Full Year and Fourth Quarter 2026 Financial Results via WebcastBusiness WireDISNEY BRINGS THE MAGIC OF DISNEY'S LAKESHORE LODGE TO NEW YORK CITYPRNewsWire
Congressional disclosures
Senate
Alan ArmstrongPurchase · $1,001 - $15,000Disclosed: Jul 21, 2026John BoozmanPurchase · $1,001 - $15,000Disclosed: Feb 15, 2026John BoozmanPurchase · $1,001 - $15,000Disclosed: Feb 15, 2026John BoozmanSale (Full) · $1,001 - $15,000Disclosed: Mar 6, 2025Sheldon WhitehouseSale (Full) · $1,001 - $15,000Disclosed: Nov 7, 2024
House
Pete SessionsSale · $1,001 - $15,000Disclosed: Oct 28, 2026Kevin HernSale (Full) · $15,001 - $50,000Disclosed: Sep 2, 2026Kevin HernSale · $15,001 - $50,000Disclosed: Sep 2, 2026Kevin HernSale (Full) · $15,001 - $50,000Disclosed: Sep 2, 2026Mike KellySale (Full) · $1,001 - $15,000Disclosed: Aug 12, 2026
Market cap history
$206.75B+15.2%Aug 2026 – Nov 2026
Latest: $206.75B · 2026-11-12High: $207.03B · 2026-11-09Low: $179.40B · 2026-08-12
Largest fund holders
| Fund | Weight | Shares held |
|---|---|---|
| VTI | 0.25% | 54.8M |
| VOO | 0.27% | 45.3M |
| XUU.TO | 0.28% | 23.2M |
| IVV | 0.31% | 23.2M |
| 1657.T | 0.24% | 23.2M |
| SPY | 0.31% | 21.3M |
| FXAIX | 0.27% | 19.7M |
| VTV | 0.69% | 16.4M |
| XLC | 5.46% | 10.2M |
| VIIIX | 0.27% | 9.1M |
| VEIPX | 1.36% | 8.4M |
| VYM | 0.77% | 7.1M |
Analyst track record
How the analysts covering DIS have done: ratings, price-target accuracy and the measured reaction after their calls.
| 12 months | 3 years | |
|---|---|---|
| Ratings | 135 | 422 |
| Analysts | 34 | 50 |
| Buy / hold / sell | 125 / 10 / 0 | 367 / 54 / 1 |
| Upgrades / downgrades / initiations | 2 / 0 / 4 | 9 / 2 / 10 |
| Price targets hit / missed | 11 / 114 (9%) | 71 / 316 (18%) |
| Avg. return after a rating (TipRanks) | -10.7% | -5.6% |
| Best / worst call | +7.5% / -27.9% | +242.0% / -27.9% |
After buy calls on this stock: median 21-day move +0.6% vs S&P 500 -0.5% (n = 400)
Most accurate on this stock
Share of an analyst's price targets on this stock that the price reached within 12 months (our measurement over the last 3 years, at least 8 targets). It describes past calls, not the odds of the current one.
- John HodulikUBS60% hit rate on this stock · 15 targets measuredBuytarget $133Oct 30, 2026
- Laurent YoonBernstein47% hit rate on this stock · 17 targets measuredBuytarget $129Jul 29, 2026
- Benjamin SwinburneMorgan Stanley44% hit rate on this stock · 16 targets measuredBuytarget $140Dec 12, 2025
Latest ratings
| Date | Analyst | Call | Target | |
|---|---|---|---|---|
| Nov 12, 2026 | Kutgun MaralEvercore ISINov 12, 2026 | BuyMaintained | $144↗ | article ↗ |
| Nov 4, 2026 | Sean DiffleyMorgan StanleyNov 4, 2026 | BuyReiterated | $133↗ | article ↗ |
| Oct 30, 2026 | John HodulikUBSOct 30, 2026 | BuyMaintained | $133↗ | article ↗ |
| Oct 16, 2026 | Jason BazinetCitiOct 16, 2026 | BuyMaintained | $140↗ | article ↗ |
| Oct 15, 2026 | Steven CahallWells FargoOct 15, 2026 | BuyMaintained | $132 |
Share of analysts per call each month (latest call per analyst within 180 days). Targets and closes in USD.
TipRanks data · computed Nov 13, 2026 · 135 ratings
Frequently asked questions
Where can I trade DIS perpetual futures?
The Walt Disney Company (DIS) perpetual futures trade on 14 crypto venues, including Deepcoin, Ourbit, BingX. PerpEquities compares them by live price, funding rate, open interest and liquidity.
Can I trade DIS around the clock?
Yes. Unlike the underlying stock, DIS perpetuals trade 24/7 — including weekends and outside regular market hours.
What is the funding rate on DIS perpetuals?
Right now the DIS perp funding rate is 0.0% annualized (venue median), ranging from -11.0% to +16.1% across 14 venues. A positive rate means longs pay shorts. PerpEquities shows the live rate and its history for every venue.
How does the DIS perp price compare to the The Walt Disney Company stock?
The venue-median DIS perp mark is $119.3 versus a reference stock price of $119.3, a basis of 0.0%. Perps follow the stock through an index price; the gap widens when funding or liquidity diverge between venues.
What is a DIS perpetual future?
A DIS perpetual is a derivative that tracks the price of The Walt Disney Company with no expiry date. It lets you take long or short exposure to The Walt Disney Company on crypto venues, around the clock.
What is DISUSDT perpetual?
DISUSDT is the symbol most crypto exchanges use for the The Walt Disney Company perpetual settled in USDT (Tether). It tracks the DIS share price through an index, trades 24/7 with leverage and never expires.
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