The Walt Disney Company (DIS) – Intrinsic Valuation

DCF Analysis and Investor Report – As of August 2025

Valuation Summary

Intrinsic Value / Share

$50.55

Market Price

$118.86

~135% premium to model value

Cost of Capital

10.3% → 8.7%

Initial WACC to terminal WACC

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Visual Exhibits

Valuation bridge from enterprise value to equity value — Valuation Bridge — PV of explicit period and terminal value to Enterprise Value, then to Equity after debt, minority interests, cash, and options.

Ten-year free cash flow to firm forecast — FCFF Forecast (Years 1–10) — cash generation trajectory used in the DCF.

Present value composition of explicit cash flows versus terminal value — PV Composition — share of value from explicit cash flows versus terminal value.

Sensitivity of intrinsic value to WACC assumption — Sensitivity — intrinsic value as a percentage of the $118.86 market price across different WACC assumptions.

Sensitivity Snapshot (Table)

WACC	Value / Share (USD)	Value as % of $118.86
8.0%	$61.30	51.6%
8.5%	$58.75	49.5%
9.0%	$56.30	47.4%
9.5%	$54.00	45.5%
10.0%	$51.70	43.5%