Walt Disney Co (DIS) closed fiscal year 2025 with a gross margin of 37.8 % and a net margin of 13.1 %.
Walt Disney Co (DIS) closed fiscal year 2025 with a gross margin of 37.8 % and a net margin of 13.1 %. The same year shows an EBITDA margin of 24.2 % and an EBIT margin of 18.6 %. The free cash flow margin was 10.7 %. Against the previous year the gross margin moved +2.0 pp and the net margin +7.7 pp. Across the period the gross margin ranges between 33.4 % in 2023 and 37.8 % in 2025. The series covers 9 fiscal years, from 2017 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: October
| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | — | — | — | — | — | 34.24 % | 33.41 % | 35.75 % | 37.76 % |
| EBITDA margin (%) | 31.84 % | 31.46 % | 27.32 % | 20.57 % | 19.10 % | 20.89 % | 20.51 % | 22.54 % | 24.23 % |
| EBIT margin (%) | 26.80 % | 26.40 % | 21.33 % | 12.40 % | 11.52 % | 14.65 % | 14.47 % | 17.08 % | 18.59 % |
| Net margin (%) | 16.29 % | 21.20 % | 15.88 % | -4.38 % | 2.96 % | 3.80 % | 2.65 % | 5.44 % | 13.14 % |
| FCF margin (%) | 15.82 % | 16.54 % | 2.49 % | 5.50 % | 2.95 % | 1.29 % | 5.51 % | 9.37 % | 10.67 % |
