DeSantis Threatens to Take Legal Action Against Disney Over Tax Dispute
April 19, 2023
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WALT ($NYSE:DIS): From its beginnings in animation, Disney has grown to be an iconic brand with a large portfolio of businesses, including theme parks, television and film production, cruise lines, and consumer products. Recently, however, the company has found itself in the midst of a dispute with Governor DeSantis of Florida over a tax-district controversy. In response to Disney’s refusal to pay a portion of the taxes that were raised due to the new tax district, Governor DeSantis has escalated the dispute further by issuing more warnings regarding the issue. He has threatened to take legal action against Disney if it does not comply with the taxes levied by the new district. The governor has stated that Florida governments are “not going to back down” when it comes to tax issues.
Governor DeSantis has also indicated that he is willing to work with Disney to find a solution that benefits both parties. At this time, it remains to be seen if Disney will take the governor’s warnings seriously and comply with the new tax district or if they will instead choose to take legal action. While it may be some time before a resolution is reached, one thing is certain; the dispute between Disney and the DeSantis administration is likely to be ongoing for the foreseeable future.
Price History
On Monday, Florida Governor Ron DeSantis threatened to take legal action against WALT DISNEY after the company challenged a recent tax dispute. The stock of WALT DISNEY opened at $99.6 and closed at $100.3, up by 0.4% from its last closing price of 99.9. He has stated that he is looking into all legal options, including suing the company if the dispute cannot be resolved through other means. This could be a potential financial burden for the company and has caused investors to be concerned about their investments in DISNEY. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Walt Disney. More…
| Total Revenues | Net Income | Net Margin |
| 84.42k | 3.32k | 4.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Walt Disney. More…
| Operations | Investing | Financing |
| 5.24k | -5.31k | -5.49k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Walt Disney. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 202.12k | 93.25k | 52.63 |
Key Ratios Snapshot
Some of the financial key ratios for Walt Disney are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 4.0% | -16.5% | 8.3% |
| FCF Margin | ROE | ROA |
| 0.1% | 4.6% | 2.2% |
Analysis
At GoodWhale, we have conducted a thorough analysis of the fundamentals of WALT DISNEY. The results of our review have revealed that this is a high-risk investment with regards to financial and business aspects. When it comes to income sheet, balance sheet and non-financial concerns, we have detected three risk warnings. If you are interested in learning more about these warnings and how they could potentially affect your investment, feel free to register with us to get the full information. We understand the importance of making informed decisions when it comes to investments, and want to provide you with all the information you need to make the best choice. Register with us today to get access to all the details of WALT DISNEY’s analysis. More…
Peers
The Walt Disney Co is the largest entertainment company in the world. It operates in four business segments: media networks, parks and resorts, studio entertainment, and consumer products. The company has a wide array of competitors, including Netflix Inc, Paramount Global, Warner Bros.Discovery Inc, and many others.
– Netflix Inc ($NASDAQ:NFLX)
Netflix is a streaming service for movies and TV shows. It has a market cap of 109B as of 2022 and a Return on Equity of 22.38%. The company was founded in 1997 and is headquartered in Los Gatos, California.
– Paramount Global ($NASDAQ:PARA)
Paramount Global has a market cap of 12.64B as of 2022, a Return on Equity of 18.54%. The company is a leading provider of global insurance and reinsurance solutions. It offers a broad range of products and services to meet the needs of its clients.
– Warner Bros.Discovery Inc ($NASDAQ:WBD)
Discovery, Inc. is a global media and entertainment company that operates a portfolio of cable television networks and produces original content for a variety of platforms. The company operates in over 220 countries and territories and reaches nearly 3 billion people around the world. Discovery’s primary businesses include Discovery Channel, Animal Planet, Science Channel, Investigation Discovery, TLC, OWN: Oprah Winfrey Network, Velocity, Travel Channel, Food Network, Cooking Channel, and HGTV. The company also operates Eurosport, Discovery Kids, Discovery Family, and Discovery Turbo. In addition to its cable networks, Discovery also owns and operates digital media properties, including Discovery Digital Networks, Seeker Network, and TestTube.
Summary
Walt Disney Co. (NYSE: DIS) is an iconic entertainment and media giant, producing films, TV shows, theme parks, and more. The company’s stock price has increased steadily in recent years, making it an attractive choice for investors. Additionally, the company’s operating margins are above industry averages, and its return on invested capital is one of the highest in the industry.
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