So, you hear about Disney’s latest corporate confab? March 18, 2026, mark your calendars. Not for a new ride opening, mind you, but for the annual shareholder meeting. And if CEO Bob Iger’s recent letter is anything to go by, they’re practically swimming in cash. It’s the kind of news that makes you wonder if some folks are just *too* good at making money, or if there’s always more to the story than the glossy headlines.
Iger’s message to shareholders paints a rather rosy picture for fiscal year 2025. He’s calling it a ‘year of great progress,’ focusing on entertainment, sports, and experiences. And when you look at the numbers, you can see why. Let’s break it down.
First, the movies. Disney, apparently, still knows how to hit it big. Over the last two years, they’ve churned out six films that each pulled in more than $1 billion at the global box office. Think about that for a second. Six. Iger makes sure to point out that ‘no other Hollywood studio achieved even one release’ in that same timeframe. For calendar year 2025 alone, three films crossed that billion-dollar line, contributing to a massive $6.5 billion in total global box office receipts. That’s their biggest box office year since 2019. And they’re not stopping, with titles like The Devil Wears Prada 2, The Mandalorian and Grogu, Toy Story 5, live-action Moana, and Avengers: Doomsday on the horizon. Clearly, the creative pipeline is flowing, and audiences are still showing up for those familiar stories.
Then there’s the streaming business, which, let’s be honest, has been a bit of a rollercoaster. But Iger says fiscal 2025 saw a ‘remarkable improvement.’ Their Entertainment DTC (direct-to-consumer) business pulled in a hefty $1.3 billion in operating income. That’s a nearly $5 billion swing in just three years. The plan now? Keep that growth going. We’re talking more high-quality content, the big Disney+ and Hulu unified app experience – something they claim ‘no other company can match’ – and expanding internationally with local content. They want to make it easier to find stuff, too, with better personalization and navigation. Sounds like they’re finally getting their act together on the digital front.
Not to be outdone, ESPN is also getting a facelift. The past year saw the launch of its full direct-to-consumer service and an enhanced app. This means sports fans can get the complete suite of ESPN networks directly, reinforcing its ‘strong position as a leader in sports.’ It’s about getting content to people ‘anytime, anywhere,’ which, in today’s world, is pretty much table stakes.
And for those who love the theme parks and cruise lines, buckle up. The ‘Experiences’ segment is seeing ‘ambitious investment plans.’ More expansion projects are underway globally than ever before. We’re talking about the ‘largest expansion ever of Magic Kingdom at Walt Disney World.’ Plus, five new cruise ships beyond fiscal 2026 and even a new theme park planned for Abu Dhabi. They’re clearly banking on people wanting to experience the magic in person, and they’re pouring significant capital into making that happen.
Now, for the brass tacks: the money. Strategic success, as Iger puts it, led to some impressive financial gains in fiscal 2025. Diluted EPS (Earnings Per Share) shot up 152%, and Adjusted EPS grew by 19% compared to the previous year. Shareholders, naturally, are getting a slice of that pie: a 50% increase in their dividend, bringing it to $1.50, and a 100% increase in their target share repurchase for fiscal 2026. If you own Disney stock, you’re probably smiling.
But here’s where it gets interesting. While the company celebrates these ‘achievements’ and ‘strategic success,’ you might wonder about the folks actually making the magic happen. The company employed approximately 231,000 people as of fiscal year-end 2025. About 172,000 in the U.S. and 59,000 internationally. The workforce is largely full-time at 76%, with 16% part-time and 8% seasonal. And let’s not forget the news that broke shortly after: CEO Bob Iger’s total executive compensation for fiscal 2025 tallied a cool $45.8 million. It’s a stark contrast to the average worker’s reality, prompting questions about where all that ‘value for shareholders’ truly lands.
Also, amidst all the talk of growth and profits, there’s a whisper of a shareholder proposal pushing for an ‘Independent Review and Report on Accessibility and Disability Inclusion Practices.’ It’s a reminder that not everything is about the bottom line. Sometimes, it’s about making sure the magic is truly for everyone, regardless of the staggering financial successes being celebrated.
So, as Disney confidently navigates what Iger calls a ‘period of intense industry disruption,’ they’re laying down big plans and racking up big numbers. The question remains: how will this monumental financial success translate to the daily experience for both guests and the vast majority of their employees? And will the ongoing pursuit of billions sometimes overshadow the very values that built the company in the first place? Only time, and perhaps the next shareholder meeting, will tell.
