Goldman Sachs
May 10, 2026
Walt Disney Co. Updating Estimates for 10-Q
Single Stock ReportEquitiesCommunication Services
Goldman Sachs has updated its financial model for Disney following 10-Q disclosures, making minor downward revisions to future earnings estimates but maintaining a $164 price target and a Buy rating.
Key Takeaways
- 1.Goldman Sachs updated Disney estimates to reflect 10-Q disclosures, resulting in minor revisions of less than 1% for F2026-F2028 with a price target maintained at $164.
- 2.Entertainment segment growth (+14% in subscription fees) was driven by the Fubo transaction, rate increases, and subscriber growth.
- 3.The Experiences segment benefited from cruise ship expansions, specifically the launches of the Disney Destiny and Disney Adventure.
Table of Contents
- KEY TAKEAWAYS
- Key Data
- GS Forecast
- GS Factor Profile
- Ratios & Valuation
- Growth & Margins (%)
- Income Statement
- Balance Sheet
- Cash Flow
- Estimate and price target changes
- Valuation
- Key downside risks
- Investment Thesis Summary
- Disclosure Appendix
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Authors
Michael Ng, CFAYash Goenka, CFA
Securities
DIS
Themes
Direct-to-Consumer (DTC) ProfitabilityTheme Park Expansion
Regions
North AmericaUnited States