The Walt Disney Co (NYSE:DIS) ROC (Joel Greenblatt) %

: 26.41% (As of Dec. 2022)

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Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. The Walt Disney Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2022 was 26.41%.

The historical rank and industry rank for The Walt Disney Co's ROC (Joel Greenblatt) % or its related term are showing as below:

DIS' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -0.79 Med: 50.01 Max: 57.63
Current: 21.03

During the past 13 years, The Walt Disney Co's highest ROC (Joel Greenblatt) % was 57.63%. The lowest was -0.79%. And the median was 50.01%.

DIS's ROC (Joel Greenblatt) % is ranked better than
58.32% of 1022 companies
in the Media - Diversified industry
Industry Median: 11.43 vs DIS: 21.03

The Walt Disney Co's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.

The Walt Disney Co ROC (Joel Greenblatt) % Historical Data

The historical data trend for The Walt Disney Co's ROC (Joel Greenblatt) % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

The Walt Disney Co Annual Data

Trend

Sep13

Sep14

Sep15

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

ROC (Joel Greenblatt) %

52.82

48.74

-0.79

12.70

20.64

The Walt Disney Co Quarterly Data
	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22
ROC (Joel Greenblatt) %																25.10	18.00	30.06	9.65	26.41

Competitive Comparison

For the Entertainment subindustry, The Walt Disney Co's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Annual Data Quarterly Data

The Walt Disney Co ROC (Joel Greenblatt) % Distribution

For the Media - Diversified industry and Communication Services sector, The Walt Disney Co's ROC (Joel Greenblatt) % distribution charts can be found below:

* The bar in red indicates where The Walt Disney Co's ROC (Joel Greenblatt) % falls in comparison to its industry or sector. The grey bar indicates the ROC (Joel Greenblatt) %'s extreme value range as defined by GuruFocus.

The Walt Disney Co ROC (Joel Greenblatt) % Calculation

Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:

ROC (Joel Greenblatt) %

EBIT

Average of (Net fixed Assets

Net Working Capital)

EBIT stands for Earnings Before Interest and Taxes.

Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.

GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.

	Working Capital		(Q: Sep. 2022 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(10811	+	1742	+	3089)	-	(20213	+	5790	+	0)
=	-10361

	Working Capital		(Q: Dec. 2022 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(13993	+	1830	+	2619)	-	(18149	+	5672	+	0)
=	-5379

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of The Walt Disney Co for the quarter that ended in Dec. 2022 can be restated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2022 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2022		Q: Dec. 2022
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	8952	/	( ( (33596 + max(-10361, 0))	+	(34200 + max(-5379, 0)) )	/	2 )
=	8952	/	( ( 33596	+	34200 )	/	2 )
=	8952	/	33898
=	26.41 %

Note: The EBIT data used here is four times the quarterly (Dec. 2022) EBIT data.

The Walt Disney Co (NYSE:DIS) ROC (Joel Greenblatt) % Explanation

The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.

Joel Greenblatt uses his definition of Return on Capital and Earnings Yield (Joel Greenblatt) % to rank companies.

The Walt Disney Co ROC (Joel Greenblatt) % Related Terms

Thank you for viewing the detailed overview of The Walt Disney Co's ROC (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.

The Walt Disney Co (NYSE:DIS) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Media - Diversified » The Walt Disney Co (NYSE:DIS) » Definitions » ROC (Joel Greenblatt) %

Comparable Companies

Traded in Other Exchanges

DIS:Mexico 0QZO:UK WDP:Germany DIS:Chile DIS:Canada DISB34:Brazil DIS:Austria DIS:Argentina

Address

500 South Buena Vista Street, Burbank, CA, USA, 91521

Website

https://www.thewaltdisneycompany.com

Walt Disney owns the rights to some of the most globally recognized characters, from Mickey Mouse to Luke Skywalker. These characters and others are featured in several Disney theme parks around the world. Disney makes live-action and animated films under studios such as Pixar, Marvel, and Lucasfilm and also operates media networks including ESPN and several TV production studios. Disney shifted into a more streaming-focused firm by acquiring the remainder of Hulu and launching Disney+ and ESPN+. Across its streaming platforms, Disney had over 235 million subscribers as of September 2022, up sharply from under 64 million in December 2019.

Executives

Carolyn Everson	director	C/O THE HERTZ CORPORATION, 225 BRAE BOULEVARD, PARK RIDGE NJ 07656-0713
Kristina K Schake	officer: Sr. EVP and Chief Comm Officer	500 SOUTH BUENA VISTA STREET, BURBANK CA 91521
Horacio E Gutierrez	officer: Sr EVP, General Counsel & Secy	500 SOUTH BUENA VISTA STREET, BURBANK CA 91521
Geoff Morrell	officer: SEVP Chf Corp Affairs Officer	500 SOUTH BUENA VISTA STREET, BURBANK CA 91521
Paul J Richardson	officer: Sr. EVP and Chief HR Officer	500 SOUTH BUENA VISTA STREET, BURBANK CA 91521
Amy Chang	director	2100 SEAPORT BLVD., C/O INFORMATICA CORPORATION, REDWOOD CITY CA 94063
Calvin Mcdonald	director	C/O LULULEMON ATHLETICA INC., 1818 CORNWALL AVENUE, VANCOUVER A1 V6J 1C7
Robert A Chapek	officer: Chief Executive Officer	500 SOUTH BUENA VISTA STREET, BURBANK CA 91521
Maria Elena Lagomasino	director	345 PARK AVENUE 5TH FL, NEW YORK NY 10154
Mark G Parker	director	ONE BOWERMAN DR, BEAVERTON OR 97005
Mary T Barra	director	300 RENAISSANCE CENTER, M/C: 482-C25-A36, DETROIT MI 48265-3000
Froman Michael B. G.	director	2000 PURCHASE STREET, PURCHASE NY 10577
Alan N Braverman	officer: Sr EVP, General Counsel & Secy	500 SOUTH BUENA VISTA ST, BURBANK CA 91521-1030
Christine M Mccarthy	officer: SEVP-Chief Financial Officer	500 SOUTH BUENA VISTA STREET, BURBANK CA 91521-0964
Mary Jayne Parker	officer: SEVP and Chief HR Officer	500 SOUTH BUENA VISTA STREET, BURBANK CA 91521-0966