The Walt Disney Company Q4 2025 Earnings Recap

Strong earnings growth in Q4 2025 was driven by successful film releases and significant progress in direct-to-consumer services, as Disney continues to enhance its strategic focus on core assets.

Key Takeaways

• Adjusted EPS rose 19% year-over-year, maintaining a 19% compound annual growth rate over the last three years.
• Share repurchase target for 2026 is set at $7 billion, doubling the previous year, alongside a 50% increase in the cash dividend to $1.50 per share.
• The DTC segment saw a substantial turnaround, posting a 39% operating income increase in Q4, reaching $1.3 billion for the full year.
• Disney Studios achieved record box office numbers with major releases, including the highest-grossing Hollywood film of the year, "Lilo and Stitch."
• ESPN launched a full direct-to-consumer service with positive early fan engagement, enhancing the viewing experience across its platforms.