The Walt Disney Company (DIS): net debt to ebitda, 10 filed years
Net debt/EBITDA at The Walt Disney Company was 1.74x in FY2025, the newest filed year. Across the 9 computed years from FY2016 it ranged from 0.88x (FY2016) to 3.29x (FY2021), with a median of 2.00x.
Tonight's figure on the company page: 1.74x, recomputed 2026-10-15. The table is each filed year on its own terms, with the formula below; the current figure may use trailing twelve months or, where the explainer says so, a different denominator.
Year by year
| Fiscal year | Net debt/EBITDA | Read from |
|---|---|---|
| FY2016 | 0.88x | period ended 2016-09-30 |
| FY2017 | 1.21x | 10-K, filed 2019-11-20 |
| FY2018 | 0.89x | 10-K, filed 2019-11-20 |
| FY2019 The filed borrowings do not add up to a total we can stand behind: the filer's own liability subtotals leave room for debt we did not read. | n/a | 10-K, filed 2019-11-20 |
| FY2020 | 3.05x | 10-K, filed 2020-11-25 |
| FY2021 | 3.29x | 10-K, filed 2021-11-24 |
| FY2022 | 2.35x | 10-K, filed 2022-11-29 |
| FY2023 | 2.00x | 10-K, filed 2023-11-21 |
| FY2024 | 2.11x | 10-K, filed 2024-11-14 |
| FY2025 | 1.74x | 10-K, filed 2025-11-13 |
How each year is computed
(Total debt - cash) / EBITDA
Each year is a ratio of lines in that year's filed annual report, with the nightly recompute's own rules for what counts as a filed line. Nothing is estimated, smoothed or filled in: a year that cannot be computed says why.
Read further
A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.