Filing Flows › Walt Disney (DIS) › Q4 FY25
Walt Disney (DIS) Q4 FY25 earnings results (fourth quarter fiscal 2025)
10-K filed Nov 13, 2025
Walt Disney (DIS) reported revenue of $22.5B for the fourth quarter fiscal 2025 (Q4 FY25), -0.5% from a year earlier and -5% from the quarter before. Operating margin was 15.5%, net earnings $1.3B (5.8% of revenue).
Walt Disney, Q4 FY25: revenue $22.5B (-0.5% year over year), operating margin 15.5%, net earnings $1.3B, operating cash flow $4.5B. The chart follows the revenue to costs, profit and cash.
| Q4 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $22.5B | -5% | -0.5% |
| Operating profit | $3.5B | -24% | -5% |
| Net earnings | $1.3B | -75% | +185% |
| Operating cash flow | $4.5B | +22% | -19% |
| Free cash flow | $2.6B | — | -37% |
What changed
Revenue was $22.5B in Q4 FY25, roughly flat year over year and down 5% from the previous quarter. Service was the largest line at 89% of revenue.
Operating profit was $3.5B, a 15.5% margin (down 0.7 points year over year). Total costs grew 0% against flat revenue. Net earnings were $1.3B, up 185% year over year. The effective tax rate was 29.4%.
Operating cash flow was $4.5B (down 19% year over year), 310% of net income including minority interests. Non-cash charges added back $1.4B of depreciation and amortization and $0.36B of share-based compensation. Working capital and other items added $1.3B. After investments in parks, resorts and other property ($1.9B), free cash flow as the company reports it was $2.6B.
Questions
What was Walt Disney's revenue in the fourth quarter fiscal 2025?
Walt Disney (DIS) reported revenue of $22.5B for the fourth quarter fiscal 2025 (Q4 FY25), -0.5% from a year earlier and -5% from the quarter before.
Was Walt Disney profitable in the fourth quarter fiscal 2025?
Operating profit was $3.5B (15.5% of revenue) and net earnings $1.3B.
Source: Walt Disney 10-K on SEC EDGAR.