Bought back $3.5B of its own shares, 2.6× what it paid in stock
Dilution: new shares, stock pay and buybacks
Shares offered
Since Nov 12, 2023: 2 shelf registrations.
- Aug 28, 2025 Shelf registration: shares and other securities, amount not fixed S-3ASR
- Mar 20, 2025 Shelf registration: shares and other securities, amount not fixed S-3ASR
Every offering filing →“COMPANY The Walt Disney Company (“we”) may offer from time to time the following types of securities: • our debt securities, in one or more series, which will be senior debt securities, in each case consisting of notes or other unsecured evidences of indebtedness; shares of our preferred stock, which may be issued in the form of depositary receipts representing a fraction of a share of preferred stock; shares of our …”
S-3ASR, Aug 28, 2025 ↗
Diluted shares: 1.81B in the year to Sep 27, 2025 2025 -1.1%2024 +0.1%2023 +0.2%2022 -0.1%
Change in the diluted weighted average share count from the fiscal year before, stock splits taken out. Bars use one scale for stock pay and buybacks. Prospectuses are read from their cover page; preliminary ones are left out. Cash & buybacks, year by year → · How
Where the cash came from and where it went
FY2021 to FY2025, from the cash flow statements in the 10-Ks, added up.
Came from
| Operating cash flow NetCashProvidedByUsedInOperatingActivitiesContinuingOperations, 0001744489-23-000216; NetCashProvidedByUsedInOperatingActivitiesContinuingOperations, 0001744489-24-000276; NetCashProvidedByUsedInOperatingActivities, 0001744489-25-000155 |
$53.5B |
| Debt raised ProceedsFromIssuanceOfLongTermDebt, 0001744489-23-000216; ProceedsFromIssuanceOfLongTermDebt, 0001744489-24-000276; ProceedsFromIssuanceOfLongTermDebt, 0001744489-25-000155 |
$1.7B |
| Shares sold ProceedsFromStockOptionsExercised, 0001744489-23-000216; ProceedsFromStockOptionsExercised, 0001744489-24-000276; ProceedsFromStockOptionsExercised, 0001744489-25-000155 |
$935.0M |
| Cash on hand used CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect, 0001744489-23-000216; CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect, 0001744489-24-000276; CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect, 0001744489-25-000155 |
$12.2B |
Went to
| Capital spending PaymentsToAcquirePropertyPlantAndEquipment, 0001744489-23-000216; PaymentsToAcquirePropertyPlantAndEquipment, 0001744489-24-000276; PaymentsToAcquirePropertyPlantAndEquipment, 0001744489-25-000155 |
$26.9B |
| Buybacks PaymentsForRepurchaseOfCommonStock, 0001744489-24-000276; PaymentsForRepurchaseOfCommonStock, 0001744489-25-000155 |
$6.5B |
| Dividends PaymentsOfDividendsCommonStock, 0001744489-22-000213; PaymentsOfDividendsCommonStock, 0001744489-24-000276; PaymentsOfDividendsCommonStock, 0001744489-25-000155 |
$3.2B |
| Debt repaid RepaymentsOfLongTermDebt, 0001744489-23-000216; RepaymentsOfLongTermDebt, 0001744489-24-000276; RepaymentsOfLongTermDebt, 0001744489-25-000155 |
$16.2B |
| Other, net investments bought and sold, other financing and investing lines, and exchange rates |
$15.5B |
Each number is a line of the cash flow statement as the company tagged it. "Other, net" is what those lines do not cover (investments bought and sold, other financing and investing lines, and exchange rates); Tickdelta does not estimate it.
What the 10-Ks show for each CEO's years
The CEO of each fiscal year as named in the proxy's pay versus performance table, and what the 10-Ks show for those years.
Mr. Iger
- Operating cash flow
- $41.9B
- Capital spending
- $18.4B
- Buybacks
- $6.5B
- Dividends
- $3.2B
- Stock-based pay
- $3.9B
- Diluted shares since FY2022
- -0.9%
- Revenue since FY2022
- +14%
- Debt since FY2022
- -$6.3B
- CEO pay (reported)
- $128.5M
Mr. Chapek
- Operating cash flow
- $11.6B
- Capital spending
- $8.5B
- Buybacks
- $0
- Dividends
- $0
- Stock-based pay
- $1.6B
- Diluted shares since FY2020
- +1.1%
- Revenue since FY2020
- +27%
- Debt since FY2020
- -$10.3B
- CEO pay (reported)
- $56.6M
Buybacks, dividends and share count
| Fiscal year to | Buybacks | Dividends | Stock pay | Shares issued for cash | Diluted shares |
|---|---|---|---|---|---|
| 2025-09-27 | $3.5B | $1.8B | $1.4B | $233.0M | 1.81B |
| 2024-09-28 | $3.0B | $1.4B | $1.4B | $88.0M | 1.83B |
| 2023-09-30 | $0 | $0 | $1.1B | $52.0M | 1.83B |
| 2022-10-01 | $0 | $0 | $977.0M | $127.0M | 1.83B |
| 2021-10-02 | - | $0 | $600.0M | $435.0M | 1.83B |
From the XBRL of the 10-Ks (cash flow statement and diluted weighted average shares); each year as reported in the latest 10-K that includes it. Concepts: buybacks = PaymentsForRepurchaseOfCommonStock; dividends = PaymentsOfDividendsCommonStock; sbc = ShareBasedCompensation; issuance = ProceedsFromStockOptionsExercised; diluted_shares = WeightedAverageNumberOfDilutedSharesOutstanding.
What it paid for each share it bought back
What DIS paid on average for each share it bought back, each fiscal year: dollars spent divided by shares bought, both from the 10-K.
| Fiscal year to | Shares bought | Spent | Average price | |
|---|---|---|---|---|
| 2025-09-27 | 32.00M | $3.5B | $109.38 | |
| 2024-09-28 | 28.00M | $3.0B | $107.14 | |
| 2018-09-29 | 35.00M | $3.6B | $102.86 | |
| 2017-09-30 | 89.00M | $9.4B | $105.62 |
Shares and dollars from the statement of shareholders' equity (the cash flow line also counts shares withheld for taxes, so it is not used). Share counts filed before a stock split are put on today's count. A year where the 10-K does not tag both numbers is left out.