The Walt Disney Company (DIS) reported a robust cash flow performance for fiscal 2025, with cash from operations increasing by approximately 30% year-over-year and free cash flow up about 18%. This momentum enabled Disney to raise its annual dividend by 50% to $1.50 per share and authorize $7 billion for share repurchases in fiscal 2026, reflecting confidence in sustainable cash generation.
A significant turnaround in Disney’s Direct-to-Consumer segment drove this financial improvement, yielding $1.3 billion in operating income, a stark contrast to prior multibillion-dollar losses. The company’s Experiences segment added a record $10 billion in operating income. With management projecting around $19 billion in cash flow for fiscal 2026, DIS is positioned to maintain higher dividends and accelerate buybacks.
In comparison, Warner Bros. Discovery (WBD) generated $701 million in free cash flow during Q3 2025, while Netflix (NFLX) achieved $2.7 billion, projecting $9 billion for the full year. Although Netflix leads in cash flow generation, Disney’s diversified operations and strong cash flow outlook for 2026 offer long-term stability.
