Walt Disney Co.、合併資產負債表結構：負債和股東權益（季度數據）
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2026年3月28日 |
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2025年12月27日 |
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2025年9月27日 |
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2025年6月28日 |
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2025年3月29日 |
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2024年12月28日 |
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2024年9月28日 |
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2024年6月29日 |
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2024年3月30日 |
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2023年12月30日 |
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2023年9月30日 |
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2023年7月1日 |
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2023年4月1日 |
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2022年12月31日 |
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2022年10月1日 |
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2022年7月2日 |
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2022年4月2日 |
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2022年1月1日 |
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2021年10月2日 |
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2021年7月3日 |
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2021年4月3日 |
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2021年1月2日 |
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2020年10月3日 |
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2020年6月27日 |
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2020年3月28日 |
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2019年12月28日 |
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應付賬款和其他應計負債 |
9.73% | |
10.16% | |
10.73% | |
10.43% | |
10.59% | |
10.98% | |
10.74% | |
10.22% | |
9.63% | |
9.44% | |
10.06% | |
9.38% | |
9.08% | |
8.98% | |
9.93% | |
10.22% | |
9.72% | |
9.20% | |
10.26% | |
9.06% | |
8.52% | |
8.34% | |
8.34% | |
8.18% | |
8.68% | |
9.83% | |
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|
借款的流動部分 |
4.33% | |
5.35% | |
3.40% | |
2.92% | |
3.29% | |
3.36% | |
3.49% | |
4.08% | |
3.48% | |
3.08% | |
2.11% | |
1.30% | |
1.69% | |
1.61% | |
1.51% | |
2.73% | |
2.67% | |
3.34% | |
2.88% | |
2.34% | |
2.62% | |
2.67% | |
2.83% | |
4.92% | |
6.14% | |
4.99% | |
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遞延收入及其他 |
3.59% | |
3.31% | |
3.16% | |
3.43% | |
3.50% | |
3.34% | |
3.41% | |
3.71% | |
3.73% | |
3.17% | |
2.99% | |
3.18% | |
2.94% | |
2.81% | |
2.84% | |
2.09% | |
2.24% | |
2.24% | |
2.12% | |
2.16% | |
2.17% | |
2.13% | |
2.04% | |
1.79% | |
2.37% | |
2.50% | |
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流動負債 |
17.65% |
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18.83% |
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17.30% |
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16.77% |
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17.38% |
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17.68% |
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17.63% |
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18.01% |
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16.85% |
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15.69% |
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15.15% |
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13.85% |
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13.70% |
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13.39% |
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14.28% |
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15.05% |
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14.62% |
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14.77% |
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15.26% |
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13.56% |
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13.30% |
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13.15% |
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13.21% |
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14.89% |
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17.20% |
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17.32% |
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借款，不包括流動部分 |
18.75% | |
17.73% | |
17.88% | |
18.58% | |
18.61% | |
19.63% | |
19.86% | |
19.98% | |
20.25% | |
21.04% | |
20.48% | |
21.86% | |
22.00% | |
22.33% | |
22.25% | |
22.55% | |
23.03% | |
23.29% | |
23.84% | |
25.27% | |
25.42% | |
26.19% | |
26.26% | |
26.10% | |
20.73% | |
18.94% | |
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遞延所得稅 |
2.46% | |
2.04% | |
1.78% | |
1.58% | |
3.22% | |
3.22% | |
3.20% | |
3.35% | |
3.52% | |
3.56% | |
3.53% | |
3.58% | |
3.97% | |
4.07% | |
4.11% | |
3.94% | |
4.15% | |
4.00% | |
3.56% | |
3.38% | |
3.44% | |
3.57% | |
3.62% | |
3.40% | |
3.86% | |
4.16% | |
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其他長期負債 |
4.95% | |
4.99% | |
5.01% | |
5.22% | |
5.26% | |
5.30% | |
5.53% | |
5.41% | |
6.20% | |
6.37% | |
5.87% | |
6.26% | |
6.46% | |
6.34% | |
6.15% | |
6.59% | |
6.82% | |
6.99% | |
7.13% | |
8.04% | |
8.30% | |
8.52% | |
8.54% | |
7.64% | |
7.81% | |
7.93% | |
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長期負債 |
26.16% |
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24.76% |
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24.68% |
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25.37% |
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27.08% |
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28.15% |
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28.59% |
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28.75% |
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29.97% |
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30.96% |
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29.88% |
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31.70% |
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32.43% |
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32.74% |
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32.50% |
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33.08% |
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34.00% |
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34.27% |
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34.53% |
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36.69% |
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37.16% |
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38.28% |
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38.41% |
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37.13% |
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32.40% |
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31.03% |
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總負債 |
43.81% |
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43.59% |
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41.97% |
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42.14% |
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44.46% |
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45.83% |
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46.22% |
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46.76% |
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46.82% |
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46.66% |
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45.03% |
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45.56% |
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46.12% |
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46.13% |
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46.78% |
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48.13% |
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48.62% |
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49.05% |
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49.79% |
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50.25% |
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50.46% |
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51.43% |
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51.62% |
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52.02% |
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49.60% |
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48.34% |
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可贖回非控制性權益 |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
4.40% | |
4.36% | |
4.30% | |
4.33% | |
4.66% | |
4.62% | |
4.62% | |
4.57% | |
4.52% | |
4.69% | |
4.70% | |
4.62% | |
4.59% | |
4.41% | |
4.41% | |
4.49% | |
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優先股 |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
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普通股和額外實收資本，面值0.01美元 |
30.34% | |
30.04% | |
30.28% | |
30.27% | |
30.23% | |
29.88% | |
29.86% | |
29.45% | |
29.74% | |
29.14% | |
27.91% | |
28.04% | |
27.78% | |
27.99% | |
27.70% | |
27.48% | |
27.57% | |
27.30% | |
27.24% | |
27.28% | |
27.47% | |
27.08% | |
27.04% | |
26.19% | |
26.29% | |
26.87% | |
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留存收益 |
30.40% | |
29.77% | |
30.59% | |
30.06% | |
27.44% | |
25.61% | |
25.34% | |
24.91% | |
23.91% | |
24.01% | |
22.42% | |
22.47% | |
22.57% | |
22.24% | |
21.43% | |
21.30% | |
20.76% | |
20.44% | |
19.86% | |
19.93% | |
19.66% | |
19.05% | |
19.01% | |
18.78% | |
21.19% | |
21.50% | |
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累計其他綜合損失 |
-1.44% | |
-1.44% | |
-1.48% | |
-1.55% | |
-1.47% | |
-1.36% | |
-1.89% | |
-1.75% | |
-1.80% | |
-1.77% | |
-1.60% | |
-2.17% | |
-2.14% | |
-2.22% | |
-2.02% | |
-3.01% | |
-3.12% | |
-3.09% | |
-3.16% | |
-3.88% | |
-3.95% | |
-4.03% | |
-4.13% | |
-3.19% | |
-3.22% | |
-3.25% | |
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庫存股，按成本計算 |
-6.33% | |
-4.70% | |
-3.77% | |
-3.27% | |
-2.92% | |
-2.39% | |
-2.00% | |
-1.74% | |
-0.98% | |
-0.46% | |
-0.44% | |
-0.45% | |
-0.44% | |
-0.45% | |
-0.45% | |
-0.44% | |
-0.45% | |
-0.45% | |
-0.45% | |
-0.45% | |
-0.45% | |
-0.45% | |
-0.45% | |
-0.44% | |
-0.44% | |
-0.45% | |
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迪士尼股東權益合計 |
52.97% |
|
53.68% |
|
55.63% |
|
55.51% |
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53.28% |
|
51.73% |
|
51.32% |
|
50.88% |
|
50.87% |
|
50.93% |
|
48.29% |
|
47.90% |
|
47.77% |
|
47.57% |
|
46.66% |
|
45.33% |
|
44.77% |
|
44.20% |
|
43.49% |
|
42.89% |
|
42.72% |
|
41.64% |
|
41.47% |
|
41.35% |
|
43.82% |
|
44.67% |
|
|
|
非控制性權益 |
3.22% | |
2.74% | |
2.40% | |
2.35% | |
2.26% | |
2.44% | |
2.46% | |
2.37% | |
2.31% | |
2.42% | |
2.28% | |
2.18% | |
1.80% | |
1.97% | |
1.90% | |
1.93% | |
1.99% | |
2.19% | |
2.19% | |
2.17% | |
2.12% | |
2.31% | |
2.32% | |
2.21% | |
2.17% | |
2.50% | |
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|
總權益 |
56.19% |
|
56.41% |
|
58.03% |
|
57.86% |
|
55.54% |
|
54.17% |
|
53.78% |
|
53.24% |
|
53.18% |
|
53.34% |
|
50.57% |
|
50.08% |
|
49.57% |
|
49.54% |
|
48.56% |
|
47.25% |
|
46.76% |
|
46.39% |
|
45.68% |
|
45.06% |
|
44.84% |
|
43.95% |
|
43.79% |
|
43.57% |
|
45.99% |
|
47.16% |
|
|
|
負債和權益合計 |
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
根據報告：
10-Q (報告日期： 2026-03-28), 10-Q (報告日期： 2025-12-27), 10-K (報告日期： 2025-09-27), 10-Q (報告日期： 2025-06-28), 10-Q (報告日期： 2025-03-29), 10-Q (報告日期： 2024-12-28), 10-K (報告日期： 2024-09-28), 10-Q (報告日期： 2024-06-29), 10-Q (報告日期： 2024-03-30), 10-Q (報告日期： 2023-12-30), 10-K (報告日期： 2023-09-30), 10-Q (報告日期： 2023-07-01), 10-Q (報告日期： 2023-04-01), 10-Q (報告日期： 2022-12-31), 10-K (報告日期： 2022-10-01), 10-Q (報告日期： 2022-07-02), 10-Q (報告日期： 2022-04-02), 10-Q (報告日期： 2022-01-01), 10-K (報告日期： 2021-10-02), 10-Q (報告日期： 2021-07-03), 10-Q (報告日期： 2021-04-03), 10-Q (報告日期： 2021-01-02), 10-K (報告日期： 2020-10-03), 10-Q (報告日期： 2020-06-27), 10-Q (報告日期： 2020-03-28), 10-Q (報告日期： 2019-12-28).
資本結構呈現出從債務主導轉向權益主導的明確趨勢。總負債佔比在2020年6月達到52.02%的峰值後，逐步下降至2026年3月的43.81%。與此相對，總權益佔比從2019年底的47.16%穩步上升至2026年3月的56.19%，顯示出財務槓桿的降低以及資本結構的優化。
- 負債結構分析
- 長期負債在2020年期間顯著增加，於2020年10月達到38.41%的最高點，隨後進入長期下降通道，至2026年3月降至18.75%。這表明該實體在經歷一段時期的高槓桿擴張後，採取了積極的去槓桿策略。流動負債則呈現波動趨勢，在2020至2021年期間處於較低水平（約13%至15%），但在2024年後回升並維持在17%至18%之間，顯示短期償債壓力較前期有所增加。
- 權益組成分析
- 權益的增長主要由留存收益推動，該項目從2019年底的21.5%增長至2026年3月的30.4%，反映出獲利能力的提升與盈餘的持續累積。同時，普通股和額外實收資本佔比也由26.87%小幅提升至30.34%。值得注意的是，庫存股佔比從-0.45%大幅擴大至-6.33%，顯示在近期採取了大規模的股份回購行動，旨在透過減少流通股數來提升股東價值。
- 其他財務指標觀察
- 遞延收入佔比從2.5%緩步上升至3.59%，暗示預收款項或訂閱制收入在總體資產負債結構中的重要性逐漸增加。遞延所得稅佔比則在2024年後明顯下降，從之前的3%至4%區間降至1.58%至2.46%之間，對總負債的貢獻度有所降低。
整體而言，該實體在過去數年內成功降低了長期借款的依賴度，並透過增加留存收益與執行股份回購來強化權益基礎，使財務狀況趨向更加穩健與自主。
