Walt Disney (DIS) Operating Margin (2018 - 2026)
Walt Disney (DIS) recorded Operating Margin of -35.31% in fiscal Q3 2026 (quarter ended Jun 27, 2026), up 4.39 percentage points from -39.70% a year earlier and up 6.92 percentage points from the prior quarter.
Walt Disney (DIS) Operating Margin (2018 - 2026) Analysis & Trends
On a TTM basis, Walt Disney's Operating Margin came in at -41.01% as of Jun 27, 2026, down 4.76 percentage points year-over-year; for FY2025 (ended Sep 27, 2025), it was -41.14%, up 3.30 percentage points from FY2024.
- Annual Operating Margin has increased for four straight fiscal years, with a five-year change of +20.17 percentage points (FY2020 to FY2025).
- Across earlier fiscal years, Operating Margin came in at -44.43% in FY2024 (+5.23 pp), -49.66% in FY2023 (+7.92 pp), -57.58% in FY2022 (+3.94 pp) and -61.51% in FY2021 (-0.21 pp).
- The fiscal Q3 2026 figure is the highest quarterly Operating Margin since fiscal Q4 2024.
- On a year-over-year basis, Operating Margin rose in five of the last eight quarters, with an average year-over-year change of +1.98 percentage points.
- Peak year-over-year performance for Operating Margin in the last five years was a gain of 38.31 percentage points in fiscal Q4 2023, against a drop of 20.49 percentage points in fiscal Q4 2025 at the low end.
- Per Business Quant, the preceding three fiscal quarters came in at -42.23% (Q2 2026), -42.83% (Q1 2026) and -43.95% (Q4 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Walt Disney | 182.51 Bn | 167.08 Bn | 11.57 Bn | -35.31% |
| 2 | Warner Music | 14.20 Bn | 11.69 Bn | 854.00 Mn | 16.36% |
| 3 | Lionsgate Studios | 3.27 Bn | 2.23 Bn | - | 3.30% |
| 4 | Angel Studios | 841.96 Mn | 647.45 Mn | 59.96 Mn | -16.57% |
| 5 | Reservoir Media | 629.64 Mn | 541.95 Mn | 26.69 Mn | 12.97% |
| 6 | Kartoon Studios | 35.46 Mn | 18.33 Mn | - | - |
| 7 | American Picture House | 5.69 Mn | 5.69 Mn | - | - |
| 8 | Nexus Advanced Technologies | 2.46 Mn | -16.15 Mn | - | - |
| 9 | AI Era | 696,201.70 | 45,968.70 | - | -85.16% |
| 10 | Sony | 143.48 Bn | 93.86 Bn | 6.53 Bn | 16.79% |
Historic Data
| Date | Value |
|---|---|
| Jun 27, 2026 | -35.31% |
| Mar 28, 2026 | -42.23% |
| Dec 27, 2025 | -42.83% |
| Sep 27, 2025 | -43.95% |
| Jun 28, 2025 | -39.70% |
| Mar 29, 2025 | -41.79% |
| Dec 28, 2024 | -39.33% |
| Sep 28, 2024 | -23.46% |
| Jun 29, 2024 | -49.04% |
| Mar 30, 2024 | -51.14% |
| Dec 30, 2023 | -53.72% |
| Sep 30, 2023 | -26.28% |
| Jul 1, 2023 | -52.98% |
| Apr 1, 2023 | -56.57% |
| Dec 31, 2022 | -61.22% |
| Oct 1, 2022 | -64.60% |
| Jul 2, 2022 | -52.32% |
| Apr 2, 2022 | -57.11% |
| Jan 1, 2022 | -56.70% |
| Oct 2, 2021 | -63.35% |
Walt Disney Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=DIS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "DIS", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=DIS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();