Income StatementBalance SheetCash FlowSegments
Walt Disney logo

Walt Disney Business Segments

Business, geographic, and product segment breakdowns

Walt Disney generates $99.5B in annual revenue across 4 key segments: Entertainment Segment ($43.7B), Experiences Segment ($36.9B), Segment Eliminations (-$2.0B), and Sports Segment ($18.3B). Based on the Q2 2026 filing.

Entertainment Segment (TTM)$43.7BExperiences Segment (TTM)$36.9BSegment Eliminations (TTM)-$2.0BSports Segment (TTM)$18.3B
Latest FilingQ2 2026
Report Date2026-05-06
Market Cap$178.86B
P/E Ratio14.35
ROE11.46%

Products & Services

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q2 '26
Subscription and affiliate fees$9.5B—$9.6B—$9.8B$10.6B
Theme park admissions$3.1B$2.9B$2.9B$3.0B$3.3B$3.1B
Advertising$3.2B$2.8B$2.8B$2.8B$3.3B$2.8B
Resorts and vacations$2.2B$2.4B$2.4B$2.4B$2.4B$2.6B
Retail and wholesale sales of merchandise, food and beverage$2.6B$2.3B$2.3B$2.4B$2.7B$2.4B
Content Sales$1.7B—$1.6B—$2.0B$1.7B
Other$1.4B$1.2B$1.2B$1.1B$1.3B$1.1B
Merchandise licensing$1.1B$852.0M$852.0M$875.0M$1.1B$865.0M

Costs of goods sold and distribution costs

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q2 '26
Service$13.8B$13.4B$13.4B$13.0B$15.0B$14.4B
Product$1.6B$1.4B$1.4B$1.5B$1.7B$1.5B

Geographic

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q2 '26
Americas$19.9B$19.5B$19.5B$19.2B$20.9B$20.4B
Europe$2.9B$2.5B$2.5B$2.8B$3.1B$2.9B
Asia Pacific$2.0B$1.7B$1.7B$1.7B$2.0B$1.9B

Business Segments

Currency translation adjustments and other, net

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q2 '26
Entertainment Segment-$14.0M———-$10.0M—
Experiences Segment$0.0——$0.0$0.0—
Sports Segment$0.0——$0.0$0.0—

D&A

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q2 '26
Experiences Segment$679.0M—$705.0M—$759.0M$788.0M
Entertainment Segment$178.0M—$203.0M—$218.0M$251.0M
Sports Segment$10.0M—$11.0M—$24.0M$28.0M

Equity in the loss of India joint venture

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q2 '26
Entertainment Segment$118.0M$124.0M$124.0M$102.0M$118.0M$108.0M
Sports Segment$10.0M$18.0M$18.0M$26.0M$3.0M$13.0M

Goodwill

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q2 '26
Entertainment Segment$51.3B$51.3B$51.3B$51.3B$51.3B$52.6B
Sports Segment$16.5B$16.5B$16.5B$16.5B$16.5B$16.5B
Experiences Segment$5.6B$5.6B$5.6B$5.6B$5.6B$5.6B

Goodwill, Acquired During Period

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q2 '26
Entertainment Segment————$1.5B—
Experiences Segment————$0.0—
Sports Segment————$0.0—

Other Cost and Expense, Operating

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q2 '26
Entertainment Segment$1.3B—$1.4B—$1.5B$1.5B
Experiences Segment$784.0M—$877.0M—$902.0M$985.0M
Sports Segment$250.0M—$240.0M—$257.0M$248.0M

Programming and Production Costs

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q2 '26
Entertainment Segment$5.5B—$5.7B—$6.3B$6.4B
Sports Segment$4.0B—$3.3B—$4.1B$3.4B
Segment Eliminations-$447.0M—-$484.0M—-$543.0M-$643.0M

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q2 '26
Entertainment Segment$10.9B$10.7B$10.7B$10.7B$11.6B$11.7B
Experiences Segment$9.4B$8.9B$8.9B$9.1B$10.0B$9.5B
Sports Segment$4.9B$4.5B$4.5B$4.3B$4.9B$4.6B
Segment Eliminations-$447.0M-$484.0M-$484.0M-$448.0M-$543.0M-$643.0M

Segment operating income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q2 '26
Experiences Segment$3.1B$2.5B$2.5B$2.5B$3.3B$2.6B
Entertainment Segment$1.7B$1.3B$1.3B$1.0B$1.1B$1.3B
Sports Segment$247.0M$687.0M$687.0M$1.0B$191.0M$652.0M

Selling, General and Administrative Expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q2 '26
Entertainment Segment$2.3B—$2.3B—$2.6B$2.3B
Experiences Segment$948.0M—$1.0B—$962.0M$1.1B
Sports Segment$310.0M—$347.0M—$308.0M$337.0M

Total costs and expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q2 '26
Entertainment Segment$9.3B—$9.5B—$10.6B$10.5B
Experiences Segment$6.3B—$6.4B—$6.7B$6.9B
Sports Segment$4.6B—$3.9B—$4.7B$4.0B

Costs of goods sold and distribution costs

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q2 '26
Experiences Segment$929.0M—$723.0M—$943.0M$773.0M

Infrastructure Costs

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q2 '26
Experiences Segment$801.0M—$856.0M—$846.0M$856.0M

Operating Labor

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q2 '26
Experiences Segment$2.2B—$2.2B—$2.3B$2.4B