DIS Investment Analysis Report & Stock Research, The Walt Disney Company

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The Walt Disney Company (DIS)

DIS Stock Report

2-Year Price History

Recent Price
(6/26 4:01PM) -0.5%
$23.43
52-Week Price
$15.14 - $34.85
Market Capitalization
$43.5 Billion
Dividend Yield
1.50%
Most Recent Dividend
$0.35

Ockham's Rating

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DIS Revenue

For a long time, value investors have used the current share price relative to sales per share levels as an important valuation tool. We utilize a historical weighted average methodology that treats recent years more importantly in the calculation. When looking at DIS through this framework, we can see that our weighted average historical high and low Price to Sales per share ratios over the last 10 years are 1.93x and 1.33x respectively.

Utilizing this range we can see that DIS’s current Price to Sales per share ratio of 1.18x is significantly below its average levels historically. In fact, with a current price of $23.43, DIS is a full 28% below its average Price to Sales ratio at comparable sales levels. This is a rare occurrence and, when taken in context of the other areas of our analysis, can be a strong positive for our outlook for DIS.

DIS Cash Earnings

Looking at DIS specifically in their Cash Earnings capabilities, Ockham views DIS as significantly below their historical average multiples of Cash Earnings, as calculated by our proprietary analysis. It is incredibly important to understand that for DIS, the current level of Cash Earnings compared to its historical levels helps identify where DIS is in relation to what the investing community was willing to pay for this level of Cash Earnings in the past. With a historical high Cash Earnings per share ratio of 15.07 and a historical low Cash Earnings per share ratio of 10.00, an investor can relate where value becomes optimal.

So what does "significantly below" mean when we talk about Price to Cash Earnings numbers for DIS? From the Ockham perspective, we are looking specifically at DIS to see if the market is recognizing the huge disparity between DIS's past stock price to Cash Earnings ratio to today's levels. At a difference of 33% below the average historical Price to Cash Earnings ratio, our view would be quite positive at this point. However, as with all metrics, we need to also take other factors into account when looking at DIS. While we view better Cash Earnings metrics as very important, if the market is slow to identify this value, or if Cash Earnings were to fall from these levels, we would become more neutral in our stance.

DIS Dividends

When determining a company's future prospects for success, Ockham Research sees analysis of dividend payments as a key additional factor. Even though it isn't imperative for DIS to shell out a dividend in order to receive a positive rating, it can be helpful to further our analysis.

The estimated annual dividend for DIS is $0.35 producing a current dividend yield of 1.49%. Much like our evaluation of Sales and Cash Earnings per share, we review dividend yields from DIS against the historic high and low levels over all available dividend history. Because dividends are a decision made exclusively by management, we view a healthy and rising dividend as a sign of confidence and strength. The highest dividend yield from DIS over previous years was 2.31% while the lowest dividend yield was 0.48%. Management at DIS has encouraged us with a current dividend yield of 6.81% above the historical median.

Peer Comparison

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The Walt Disney Company Industry Grouping

(6/26/2009)
Company Ticker Market Cap (Ml) Latest
Price
Price/Cash Earnings Price/Sales 5-Yr. Rev.
Growth Rate
5-Yr.
Avg. ROE.
Current 10-Yr. Range* Current 10-Yr. Range*
Peer Company Averages (not incuding DIS) 16.19 4.01 » 297.62 3.97 1.14 » 14.46 12.59% 28.01%
*10 year range does not include current year values
Grupo Televisa S.A. GDR TV $49.0 Billion $17.13 47.58 8.60 » 1087.50 8.44 2.53 » 19.91 10.33% 16.06%
The Walt Disney Company DIS $43.5 Billion $23.43 8.52 7.95 » 39.28 1.18 1.04 » 3.65 6.94% 11.66%
Time Warner, Inc. TWX $29.9 Billion $24.95 12.67 2.53 » 146.89 1.88 0.95 » 23.13 4.29% 5.62%
Comcast Corp. CMCSA $29.3 Billion $14.22 4.56 2.96 » 48.17 1.16 0.77 » 6.75 13.30% 4.68%
Thomson-Reuters PLC TRIN $24.0 Billion $174.00 9.08 4.48 » 190.03 7.03 1.01 » 19.10 15.47% 103.74%
Rogers Communications, Inc. Class B Non Voting. RCI $13.7 Billion $26.21 7.08 1.46 » 15.52 1.36 0.42 » 3.41 19.53% 9.96%
>
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The latest TV Media Discussion

7:35:16 PM DIS $23.52 The Walt Disney Company
America's Nightly Scoreboard
14 hours ago (06/26)
Premium Content - please sign up for Ockham PREMIUM to gain full access and to see what America's Nightly Scoreboard said about THE WALT DISNEY COMPANY …more details… LEARN MORE
2:27:26 PM DIS $23.38 The Walt Disney Company
19 hours ago (06/26)
Premium Content - please sign up for Ockham PREMIUM to gain full access and to see what Fox Business said about THE WALT DISNEY COMPANY …more details… LEARN MORE
1:34:10 PM DIS $23.29 The Walt Disney Company
2 days ago (06/24)
“…>> julia is looking into this and we'll have more, coming up. I know you're waiting to hear >> this just means i'll be further and further behind in all of the movies I haven't seen before the academy awards. >> maybe a DISNEY animated picture will be up for best picture and then you will have seen it. >> we can only hope. >>> down to the markets, some of the stocks we talked about before, alcoa with the commodity play, office depot with the big …” …more details…
4:43:49 PM DIS $22.66 The Walt Disney Company
3 days ago (06/23)
“…And will pay an undloased amount to beck beckham. >> miley cyrus losing money the 16-year-old DISNEY star faces another scandal. Backstage photos from her upcoming film, the last song, turned up on twitter. …” …more details…
1:39:20 PM DIS $22.78 The Walt Disney Company
4 days ago (06/22)
“…After the media stocks hit the historically low valuations in march, it went up in the hair. Viacom bolster bid high expectations for cable ads. DISNEY is up slightly also benefitting from strong cable franchises including espn and weighed down by slow and weak up front ad sales for the tv network which is particularly …” …more details…
11:27:32 AM DIS $23.86 The Walt Disney Company
7 days ago (06/19)
“…Retail and never be remaced. You can't. The times are different now than when these things were all gathered up. And it will be quite an auction when it happens. >> I understand DISNEY and paramount and as also 20th century fox, they closed their prop departments, so did a lot of the items come here? >> well, i've got a lot of-- i've got all the props i've got all the props from 20th y fox in 1994. Disney, I bought a lot of DISNEY just last year they shut down their prop department and paramount studios, they kind of threw it all in the trash can. They didn't want anybody to have >> I guess the obvious question …” …more details…
5:29:44 PM DIS $25.06 The Walt Disney Company
Fast Money
14 days ago (06/12)
“…>> all right, got to go. >> got to go. >>> up next -- hey! Hello. I'm talking. Up next, names like big donalds and DISNEY may put jeff to sleep when it comes to trading, they are anything but when it comes to profits. We'll break down some boring trades after this break. …” …more details…
7:55:10 AM DIS $25.23 The Walt Disney Company
15 days ago (06/12)
“…This film features eddy murphy taking stock tips from his daughter's imaginary friend, but most movie critics say the big showdown will be with last week's top two films. We will have to see if DISNEY can move up from the hangover. Charles, I actually saw the hangover -- not the hangover well I did see that. …” …more details…
8:18:14 AM DIS $25.33 The Walt Disney Company
18 days ago (06/09)
“…Weekend box-office with hangover taking in 45 million dollars for the comedy that was co-produced pictures. Preliminary reports have the WALT DISNEY company's pixar unit topping the list with up the 3-d cartoon finished the weekend at number two with 44.1 million. Cbs is on the the verge of resigning late show host david letterman so a two-year contract …” …more details…
5:44:20 PM DIS $24.95 The Walt Disney Company
Fast Money
21 days ago (06/05)
“…>>> as the dow flirted with positive territory for the year, and investors awaited the almighty jobs report, our "fast money" traders tried to keep you quicker than the ticker. I love disney. Long disney. DISNEY has a lot riding on this tenth pixar film. DISNEY has performed extremely well since its earning release. I think disney's a stock you want to get back into. >> the liquidator turning the summer movie season into a blockbuster buy after releasing its tenth pixar film to stellar reviews and a $70 million …” …more details…
7:54:24 AM DIS $25.14 The Walt Disney Company
22 days ago (06/05)
“…May leave you with a tiger, a baby, and a missing groom. Here to tell us how the films will do and if either of them can capture the upward mobility of WALT DISNEY's pixar's up joining me right now is bradley he is the senior editor of us good morning, bradley. Alexis: wait a second. …” …more details…
9:47:45 AM DIS $24.93 The Walt Disney Company
23 days ago (06/04)
“…Alexis: i'm speechless, I don't know how to react. Dave, usa today? >> yeah, we've got the big playdown tonight, nba. Alexis: are we ready? >> and disneyland versus DISNEY and disneyland is pretty far from l.A. Where the-- i'm for orlando to get two high school graduate stars kobe and howard there and I like orlando …” …more details…
8:52:57 AM DIS $25.13 The Walt Disney Company
24 days ago (06/03)
“…>> switching gears wal-mart lawn saying a big thing with miley cyrus like is the perfect marriage the only thing more perfect DISNEY and a cheeseburger it sounds like great news for the company. >> I saw her here at the center in fort lauderdale she packs the house. …” …more details…
6:03:37 PM DIS $24.48 The Walt Disney Company
28 days ago (05/29)
“…Homes we need to sell. So, jim, you think this is an okay idea? >> I do. I think it is an excellent idea because, look, neil, I get your point about DISNEY I went on one and I would have loved to have gotten a check myself. But DISNEY vacations isn't what got us into this crisis. What got us into this crisis there is housing crisis. Now we have enormous inventory and plummeting prices. We need to get people back in the showrooms. …” …more details…
5:50:52 PM DIS $24.22 The Walt Disney Company
Fast Money
28 days ago (05/29)
“…Could the film actually help the joe, you have some inside information because apparently your family saw "up" today. >> 12:30 today the kids were in loving it. 3-d glasses on. DISNEY has a lot riding on this tenth pixar film. They're looking for it to earn we'll see if it does. DISNEY has performed extremely well since its earnings release. It has sustained that little breakout since may 5th. If they can attain those numbers of 50 million I think disney's a stock you want to get back into. It it's holding up nicely. >> so it's a catalyst even though ad spending overall is -- >> back in may in that earnings call DISNEY popped real good it's pulled back a little. This is a spot you buy it I >> time now for -- he's a buyer. Time for "fast and furious." your answers to tomorrow's big market questions right now. …” …more details…
5:36:51 PM DIS $24.40 The Walt Disney Company
Fast Money
28 days ago (05/29)
“…Who will replace gm in the dow? We're also going to be talking about a stock that has finally hit a 52-week high. We'll tell you which stock that because there are so few 52-week highs out there these days. And will DISNEY go up on its that is a hint. Let's talk about general motors. General motors preparing for general motors has already announced that it is going to be having a news conference on monday, which would seem to …” …more details…
4:49:27 PM DIS $24.22 The Walt Disney Company
28 days ago (05/29)
“…Studio who did the best on the margins was news corp's fox studios. They did 20%. They had the same amount of revenue as DISNEY that was just above break even on their margins margins. I would consider time warners in second place in the margins around 11% or so on revenue. …” …more details…
4:46:02 PM DIS $24.22 The Walt Disney Company
28 days ago (05/29)
“…Impacted by this economic current. >> catch the rest of my interview with nielsen interview ceo dave calhoun on "the wall street journal report." >>> DISNEY hopes it can gain upward momentum this weekend with "up." with the slate of films for the summer appetite, we take a look at what could be hot for …” …more details…
2:52:34 PM DIS $23.91 The Walt Disney Company
28 days ago (05/29)
“…1500 of the 4,000 theaters it's playing is is equipped with 3 d which draws higher ticket prices as well as higher margins which is good for DISNEY and theaters. U.S. Box office this year is up over 10% over last year. This weekend it is on track to continue that kind of record. I already bought my ticket for "up" this weekend, it caught $16 …” …more details…
2:51:37 PM DIS $23.92 The Walt Disney Company
28 days ago (05/29)
“…This. >> reporter: a lot of hopes. Disney -- pixar hopes "up" will be the first of its three summer movies to help reverse a negative run DISNEY had. Disney's movie division could use a lift. Last quarter's operating income plummeting 97% dragged down in part by weak dvd sales. …” …more details…
2:48:14 PM DIS $23.99 The Walt Disney Company
28 days ago (05/29)
“…Constantly replenish and restock them so he always has the same amount. Very much. >> and next, an old man a boy and a lot of balloons. Will that give DISNEY the hit it so desperately needs? We're now down for the dow, but transports are still up 100. …” …more details…
2:30:24 PM DIS $23.90 The Walt Disney Company
28 days ago (05/29)
“…Next, jim kram ler weigh in. He found a crocus scene tenth time a charm? DISNEY needs a winner. Coming up next on "street signs." …” …more details…
7:24:16 AM DIS $23.99 The Walt Disney Company
29 days ago (05/29)
“…Duties of the tonight show host >>> espn is moving forward with its restructuring plan informing 100 employees at its connecticut be losing their jobs. The cable sports unit of WALT DISNEY company announced in january it would review its entire operation. In addition to the cuts, the company will leave about 200 vacant jobs unfilled, freeze …” …more details…
7:13:20 AM DIS $23.99 The Walt Disney Company
29 days ago (05/29)
“…Is number five. Which stock certificates are going out like hot potatoes that people can buy? >> well, they are america's most well loved brands. We have DISNEY up there, coca-cola, interesting enough it's one of america's favorite stores to shop at. Companies that you would really be familiar with and probably use in your daily lives. …” …more details…
7:09:47 AM DIS $23.99 The Walt Disney Company
Squawk Box
29 days ago (05/29)
“…Weeks ago on this show, the president did meet with 12 ceos from the industry, representing some of the big hotel companies, starwood, and bill marriott was there and DISNEY and universal. >> and I was there also. And we did talk about his comments, and we did talk about how important the travel and tourism industry is to our this is not about the ceos of these big major worldwide …” …more details…
11:16:46 AM DIS $23.78 The Walt Disney Company
29 days ago (05/28)
“…Thank you so much for joining >> happy to be with you, julia. >> you were about to talk about the future of digital distribution. You just got DISNEY on board. What is the future of digital? >> clearly, digital is here to so it is something that is part of our lives, I have four children, wait they consume media that is not going to change, but I think the question …” …more details…
12:49:40 PM DIS $24.56 The Walt Disney Company
5/26/2009 12:49 PM
“…>> cheryl: how good are the deals, phil? Give me an example. >> if you've got vacation dollars to spend, there are deals to be had. Hotels and resorts like DISNEY offering a fourth night free. If you stay three nights. The hotels on miami beach, offering substantial rate discounts. If you shop around right now you …” …more details…
10:52:17 AM DIS $24.11 The Walt Disney Company
5/26/2009 10:52 AM
“…Of the higher quality consumer names are oversold, names like tiffany, like carnival cruise we think are at some of the lowest multiples. DISNEY at one of the lowest multiples, the same concept, out of favor space. Consumer discretionary because people are so nervous about the consumer. …” …more details…
5:43:37 PM DIS $23.27 The Walt Disney Company
Fast Money
5/22/2009 5:43 PM
“…Flick firing away at funny man ben stiller and fox's huge "night at the museum" franchise. The action on the calendar then picks up fast-w viacom hoping for another "transformers" triumph while DISNEY needs another hit from the so far perfect pixar. To boost a bottom line battered by a spring slump. Time warner's boyish-looking ceo …” …more details…
3:44:20 PM DIS $23.85 The Walt Disney Company
5/22/2009 3:44 PM
“…Sgl>> it's grown so fast that we expect it to continue. The city of anaheimanaheim, the resort where DISNEY is and the convention center, it represents one-half of sales revenue coming in the city of anaheim. …” …more details…
11:03:34 AM DIS $23.81 The Walt Disney Company
5/22/2009 11:03 AM
“…You can see the losers today, gm and bank of america yesterday, remember, we saw gm soaring on the deals they made with the but today, dupont, WALT DISNEY and mcdonald are higher. Take a look, earlier this morning, I actually teased about stanley was raising price targets on some of the large cap banks earlier this morning and give you all the names, but now, …” …more details…
10:05:21 AM DIS $23.38 The Walt Disney Company
5/22/2009 10:05 AM
“…Already that came in for the open and they're. Hearing a couple of goodbyes for the weekend and american express, gm, also a dow component after yesterday's big what did you expect pulling back and dupont and DISNEY two other opponents to the upside and retailers, got to focus on retailers and holy cow, the first quarter profit unexpectedly beat the street and they've had a 20% move today. …” …more details…
1:10:15 PM DIS $23.99 The Walt Disney Company
5/19/2009 1:10 PM
“…Can you tell us whether or not you see that? >> I i'm sitting right now in front of a new exhibit at the wall street DISNEY company about personal finance and personal when you have a serious bear market, people have long memories. We're'm sooeing people save more and more cautious in their …” …more details…
6:41:24 PM DIS $25.46 The Walt Disney Company
Mad Money
5/8/2009 6:41 PM
“…Thoughts on advertising company interpublic group, ipg. >> I think ipg is going to be a very, very late, late player in this game. It's come back nicely, but I want to sell it. I base that on the DISNEY conference call, the cbs conference call and newscorp advertising is not turning so I don't want to get ahead of that. I have too many players that are …” …more details…
5:38:41 PM DIS $25.46 The Walt Disney Company
Fast Money
5/8/2009 5:38 PM
“…China, looks like that may be coming to an end if you are on the freeport-mcmoran train, because of copper, I would suggest maybe taking a little bit back off, get back in around 43, 44 bucks. >> DISNEY was up 16% this week, >> you want to talk about be long disney. All the way down. Get out of it. And all of a sudden the princesses and little pixie …” …more details…
3:02:57 PM DIS $25.56 The Walt Disney Company
5/8/2009 3:02 PM
“…Dining names, saks up 2 3/4% because of the jobless claim data. Media news also in focus. Cbs coming in with a surprising first quarter loss. Reuters saying that DISNEY is close to an agreement to finance this lifting the media …” …more details…
11:03:48 AM DIS $25.42 The Walt Disney Company
5/8/2009 11:03 AM
“…Names in the news. We've got cbs falling short of forecast, walk ad revenue for cbs reuters saying that DISNEY is close to an agreement with the hong kong government to invest more capital in hong kong disneyland. The board for the media sector, another sector that's higher at …” …more details…
5:45:02 PM DIS $25.85 The Walt Disney Company
Fast Money
5/6/2009 5:45 PM
“…Let the good times roll as quickly as the seasons change, the confidence of the country has as well. Earlier this week data signaling a spring pickup in home sales. Yesterday DISNEY saying park bookings were up from a year ago. And today a widely followed report showing companies are laying off fewer workers than …” …more details…
4:54:06 PM DIS $25.85 The Walt Disney Company
5/6/2009 4:54 PM
“…Seven cents a share. Revenues to come in 3.27 billion. Wachovia analyst noting that she is concerned about ad sales and tv station. Exact story we heard from DISNEY earlier, last night, general motors coming, getting, potentially getting thrown out of the dow isn't enough. Potentially a loss of $11.05 a share. …” …more details…
4:00:06 PM DIS $25.88 The Walt Disney Company
5/6/2009 4:00 PM
“…Will it, won't it be a dow other laggards, wal-mart, pfizer, hewlett packard. The winners, DISNEY with quarterly numbers a big winner, brark clay's looking good, steel stocks made their way back. …” …more details…
View All The Walt Disney Company News

Key Fundamentals

DIS - The Walt Disney Company Fundamentals
Price (6/26 4:01PM) $23.43
Volume (6/26 4:01PM) 12.1 Million
Last Close Price $23.55
10 Day Average Volume 10.4 Million
13 Week Price Range $17.54 - $26.29
52 Week Price Range $15.14 - $34.85
LTM Revenue $36.4 Billion
 
Shares Outstanding (09/2008) 1.9 Billion
Market Capitalization $43.5 Billion
Shares Held By Institutions 1.2 Billion
Institutional Holders 1,329
% Shares Held By Institutions 66.90%
Earnings Per Share (EPS) $2.28
P/E Ratio 12.70
Book Value Per Share $17.92
 
Gross Margin 20.90%
Annual Dividend 0.35
Dividend Yield 1.50%
Beta 1.13
Fiscal Year Ends September

About The Walt Disney Company

The Walt Disney Company is considered to operate in the Services sector. They specifically operate in the Entertainment - Diversified business segment contained within the Media industry.

A worldwide entertainment company with operations in four business segments: Media Networks, Parks and Resorts, Studio Entertainment, and Consumer Products.

NASDAQ 1838.22

8.68  0.47%
S&P; 500 918.9

-1.36  -0.15%
^DIA 84.27

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