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Disney plans to repurchase at least $9 billion worth of shares this fiscal year, marking a 9-year high in buyback volume, as the company's valuation sits at a multi-year low.
Walt Disney Co. (NYSE: DIS) CFO Hugh Johnston stated that the funds primarily came from cash previously earmarked for the OpenAI deal and anticipated proceeds from the A+E transaction, as the company sold its 50% stake in A+E Global Media, expected to generate $1.2 billion in cash. This move brings Disney's buyback activity to the level of $9.4 billion in fiscal year 2017 (9 years ago), demonstrating management's confidence in the company's fundamentals and stock price. Disney currently trades at a P/E ratio of 16.8x, a 33% discount to the broader S&P 500 index.
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Source：Yahoo财经 · Source Link
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