1. Connor Dickson NYSE: DIS

2. Company Overview

3. Investment Timeline Investment horizon: 1 year Revaluation at Earnings (11/05/15) Buy/Sell Decision 10/2016

4. Investment Thesis Strong Fundamentals Diversified Revenue Potential for China growth

5. Strong Fundamentals PE: 21

6. Fundamental Details FieldDisneyIndustry Average Sales Growth+6.98%+1.88% Operating Income Margin 24.15%23.42% Dividend Yield1.7%1.48%

7. FieldDisneyIndustry Average Net Debt/EBITDA 0.742.44 ROE 16.6 ROA 9.06

8. Diversified Revenue

10. China Opens Spring 2016 Cost: $5.5 Bn Contributes to rising theme park revenue growth

11. Concerns ESPN Cable Cutting

12. Mitigations Demand for Ads are still growing http://www.fool.com/investing/general/2015/10/10/demand-for-ads-during- live-sports-keeps-growing-an.aspx Diversification of Revenue “Disney's ESPN is well ahead of peers with estimated monthly affiliate fees per subscriber of $6.61 in 2015”

13. Appendix

14. Relative Values

15. Revenue Growth

16. Margins