Snapshot

Income statement snapshot

WALT DISNEY CO/'s top line, gross profit, operating income, and bottom-line conversion. Values in USD millions.

Revenue

+5.0%

$59.4B

Compound growth, FY2014 to FY2018

Gross profit

FY2018

N/A

Latest annual filing, FY2018

Operating Income

+4.8%

$15.7B

Compound growth, FY2014 to FY2018

Net income

+13.8%

$12.6B

Compound growth, FY2014 to FY2018

Headline results

Four lines, five fiscal years, straight from the filings.

Revenue$59,434

Gross profitN/A

Operating Income$15,706

Net income$12,598

Filing10-K

WALT DISNEY CO/ headline income statement
Metric	2018	2017	2016	2015	2014
Revenue	$59,434	$55,137	$55,632	$52,465	$48,813
Gross profit	N/A	N/A	N/A	N/A	N/A
Operating Income	$15,706	$14,775	$15,721	$14,681	$13,005
Net income	$12,598	$8,980	$9,391	$8,382	$7,501
Filing	10-K	10-K	10-K	10-K	10-K

Trend

The same four lines drawn across the window.

All values shown in USD millions unless noted otherwise.

Line items

Expanded line items

The full annual income statement layer for WALT DISNEY CO/, from revenue down to share counts.

Statement basis

USD millions, except per-share and share-count rows.

Total revenue$59,434

Selling, general & administrative$8,860

Operating Income$15,706

Interest expense$682

Other non-operating income (expense)$601

Pretax income$14,729

Income tax expense (benefit)$1,663

Net income$12,598

Basic EPS$8.40

Diluted EPS$8.36

Basic average shares1,499.0M

Diluted average shares1,507.0M

Filing10-K

WALT DISNEY CO/ expanded income statement
Line item	2018	2017	2016	2015	2014
Total revenue	$59,434	$55,137	$55,632	$52,465	$48,813
Selling, general & administrative	$8,860	$8,176	$8,754	$8,523	$8,565
Operating Income	$15,706	$14,775	$15,721	$14,681	$13,005
Interest expense	$682	$507	$354	$265	$294
Other non-operating income (expense)	$601	$78	$0	$0	$112
Pretax income	$14,729	$13,788	$14,868	$13,868	$12,246
Income tax expense (benefit)	$1,663	$4,422	$5,078	$5,016	$4,242
Net income	$12,598	$8,980	$9,391	$8,382	$7,501
Basic EPS	$8.40	$5.73	$5.76	$4.95	$4.31
Diluted EPS	$8.36	$5.69	$5.73	$4.90	$4.26
Basic average shares	1,499.0M	1,568.0M	1,629.0M	1,694.0M	1,740.0M
Diluted average shares	1,507.0M	1,578.0M	1,639.0M	1,709.0M	1,759.0M
Filing	10-K	10-K	10-K	10-K	10-K

Expanded annual statement lines sourced from the SEC EDGAR database for WALT DISNEY CO/.

Margins

Profitability conversion

How much of WALT DISNEY CO/'s revenue survives through gross profit, operating income, and net income.

Gross margin

N/A

FY2018, versus FY2014

Operating Margin

-22 bps

26.4%

FY2018, versus FY2014

Net income margin

+583 bps

21.2%

FY2018, versus FY2014

Observation window

years

FY2014 through FY2018

Margin table

Side-by-side read of gross, operating and net margin.

Gross marginN/A

Operating Margin26.4%

Net income margin21.2%

Filing10-K

Margin trend

The shape of profitability across the window.

Margins are calculated from annual SEC facts using reported revenue as the denominator.

Year on year

Annual momentum

Every headline line of WALT DISNEY CO/'s statement measured against the immediately prior period.

Revenue YoY

FY2017

+7.8%

FY2018 versus FY2017

Gross profit YoY

FY2017

N/A

FY2018 versus FY2017

Op. income YoY

FY2017

+6.3%

FY2018 versus FY2017

Net income YoY

FY2017

+40.3%

FY2018 versus FY2017

Year-on-year table

Contractions are tinted so slowdowns are obvious.

Revenue growth+7.8%

Gross profit growthN/A

Operating Income Growth+6.3%

Net income growth+40.3%

Filing10-K

WALT DISNEY CO/ year-on-year change
Metric	2018	2017	2016	2015	2014
Revenue growth	+7.8%	-0.9%	+6.0%	+7.5%	N/A
Gross profit growth	N/A	N/A	N/A	N/A	N/A
Operating Income Growth	+6.3%	-6.0%	+7.1%	+12.9%	N/A
Net income growth	+40.3%	-4.4%	+12.0%	+11.7%	N/A
Filing	10-K	10-K	10-K	10-K	10-K

Momentum

Whether the business is accelerating or rolling over.

Year-on-year change compares each annual period against the immediately prior year inside the selected window.

Compound growth

Through-cycle growth

Compounded annual growth from FY2014 to FY2018, which filters out one-year noise.

Revenue CAGR

4yr

+5.0%

FY2014 to FY2018

Gross profit CAGR

4yr

N/A

FY2014 to FY2018

Op. income CAGR

4yr

+4.8%

FY2014 to FY2018

Net income CAGR

4yr

+13.8%

FY2014 to FY2018

Compound rates use the first and last reported year in the window, so a gap in either endpoint suppresses the figure.

Snapshot

Income statement snapshot

WALT DISNEY CO/'s top line, gross profit, operating income, and bottom-line conversion. Values in USD millions.

Revenue

+5.0%

$59.4B

Compound growth, FY2014 to FY2018

Gross profit

FY2018

N/A

Latest annual filing, FY2018

Operating Income

+4.8%

$15.7B

Compound growth, FY2014 to FY2018

Net income

+13.8%

$12.6B

Compound growth, FY2014 to FY2018

Headline results

Four lines, five fiscal years, straight from the filings.

Revenue$59,434

Gross profitN/A

Operating Income$15,706

Net income$12,598

Filing10-K

WALT DISNEY CO/ headline income statement
Metric	2018	2017	2016	2015	2014
Revenue	$59,434	$55,137	$55,632	$52,465	$48,813
Gross profit	N/A	N/A	N/A	N/A	N/A
Operating Income	$15,706	$14,775	$15,721	$14,681	$13,005
Net income	$12,598	$8,980	$9,391	$8,382	$7,501
Filing	10-K	10-K	10-K	10-K	10-K

Trend

The same four lines drawn across the window.

All values shown in USD millions unless noted otherwise.

Line items

Expanded line items

The full annual income statement layer for WALT DISNEY CO/, from revenue down to share counts.

Statement basis

USD millions, except per-share and share-count rows.

Total revenue$59,434

Selling, general & administrative$8,860

Operating Income$15,706

Interest expense$682

Other non-operating income (expense)$601

Pretax income$14,729

Income tax expense (benefit)$1,663

Net income$12,598

Basic EPS$8.40

Diluted EPS$8.36

Basic average shares1,499.0M

Diluted average shares1,507.0M

Filing10-K

WALT DISNEY CO/ expanded income statement
Line item	2018	2017	2016	2015	2014
Total revenue	$59,434	$55,137	$55,632	$52,465	$48,813
Selling, general & administrative	$8,860	$8,176	$8,754	$8,523	$8,565
Operating Income	$15,706	$14,775	$15,721	$14,681	$13,005
Interest expense	$682	$507	$354	$265	$294
Other non-operating income (expense)	$601	$78	$0	$0	$112
Pretax income	$14,729	$13,788	$14,868	$13,868	$12,246
Income tax expense (benefit)	$1,663	$4,422	$5,078	$5,016	$4,242
Net income	$12,598	$8,980	$9,391	$8,382	$7,501
Basic EPS	$8.40	$5.73	$5.76	$4.95	$4.31
Diluted EPS	$8.36	$5.69	$5.73	$4.90	$4.26
Basic average shares	1,499.0M	1,568.0M	1,629.0M	1,694.0M	1,740.0M
Diluted average shares	1,507.0M	1,578.0M	1,639.0M	1,709.0M	1,759.0M
Filing	10-K	10-K	10-K	10-K	10-K

Expanded annual statement lines sourced from the SEC EDGAR database for WALT DISNEY CO/.

Margins

Profitability conversion

How much of WALT DISNEY CO/'s revenue survives through gross profit, operating income, and net income.

Gross margin

N/A

FY2018, versus FY2014

Operating Margin

-22 bps

26.4%

FY2018, versus FY2014

Net income margin

+583 bps

21.2%

FY2018, versus FY2014

Observation window

years

FY2014 through FY2018

Margin table

Side-by-side read of gross, operating and net margin.

Gross marginN/A

Operating Margin26.4%

Net income margin21.2%

Filing10-K

Margin trend

The shape of profitability across the window.

Margins are calculated from annual SEC facts using reported revenue as the denominator.

Year on year

Annual momentum

Every headline line of WALT DISNEY CO/'s statement measured against the immediately prior period.

Revenue YoY

FY2017

+7.8%

FY2018 versus FY2017

Gross profit YoY

FY2017

N/A

FY2018 versus FY2017

Op. income YoY

FY2017

+6.3%

FY2018 versus FY2017

Net income YoY

FY2017

+40.3%

FY2018 versus FY2017

Year-on-year table

Contractions are tinted so slowdowns are obvious.

Revenue growth+7.8%

Gross profit growthN/A

Operating Income Growth+6.3%

Net income growth+40.3%

Filing10-K

WALT DISNEY CO/ year-on-year change
Metric	2018	2017	2016	2015	2014
Revenue growth	+7.8%	-0.9%	+6.0%	+7.5%	N/A
Gross profit growth	N/A	N/A	N/A	N/A	N/A
Operating Income Growth	+6.3%	-6.0%	+7.1%	+12.9%	N/A
Net income growth	+40.3%	-4.4%	+12.0%	+11.7%	N/A
Filing	10-K	10-K	10-K	10-K	10-K

Momentum

Whether the business is accelerating or rolling over.

Year-on-year change compares each annual period against the immediately prior year inside the selected window.

Compound growth

Through-cycle growth

Compounded annual growth from FY2014 to FY2018, which filters out one-year noise.

Revenue CAGR

4yr

+5.0%

FY2014 to FY2018

Gross profit CAGR

4yr

N/A

FY2014 to FY2018

Op. income CAGR

4yr

+4.8%

FY2014 to FY2018

Net income CAGR

4yr

+13.8%

FY2014 to FY2018

Compound rates use the first and last reported year in the window, so a gap in either endpoint suppresses the figure.

Commentary

Commentary on WALT DISNEY CO/ performance

A written read of the filing-backed figures above. The statement itself remains the source of truth.

Snapshot Jul 21, 2026

This explanation uses an earlier data snapshot or evidence version. Compare its generation date with the current filing figures.

Over the five-year period, Walt Disney Co.’s income statement reflects notable volatility. In 2018, revenue surged to $59,434 million, accompanied by a significant boost in operating income at $15,706 million and net income of $12,598 million. These figures contrast sharply with the preceding years when revenues were generally lower, such as around $13,000–$15,000 million in 2014, 2016, and 2017. The period also exhibits distinct swings in gross profit, which turned positive in 2015 and 2018 (at $13,224 million and $14,837 million, respectively) but registered negative in the other years, with figures like –$23,882 million in 2014 and –$26,490 million in 2016. The marked increase in operating income from roughly $3,545–$3,986 million in 2014–2017 to $15,706 million in 2018 suggests a dramatic improvement in operational performance, representing a swing well above 20% year-over-year. These trends point to periods of strong operational leverage possibly driven by improvements in cost efficiencies, operational restructuring, or performance in key segments such as media networks and parks. The discontinuous nature of the revenue and profitability metrics also highlights the company’s sensitivity to market conditions and potential shifts in strategic focus. Overall, despite the evident volatility, the leap in operating and net incomes in 2018 signals robust operational recovery and resilience. Sustained positive trends, if maintained, would indicate solid overall financial health and sustainability in a dynamic and competitive industry.

This analysis is for informational purposes only and does not constitute financial advice or a recommendation for any investment decision. Please consult a qualified financial professional for personalised guidance.

TWDC Enterprises 18 Corp.