EN DE
Check 35,000+ stocks against 26 valuation models and 37 quality factors
Data-driven stock valuation

Walt Disney Company (DISN) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of Walt Disney Company ARS 8,649, price ARS 13,810, upside -37.4%, quality 66 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
  3. Add to watchlist

Communication Services · AR · Home US · ISIN ARDEUT110137

WD Broad data Sep 29, 2026

Walt Disney Company

DISN · BA

Stretched ValuationStrong overvaluation with only moderate quality.

!Fair value 8,649 ARS · Strongly overvalued (−37.4%)
✓Quality 66/100
✓Healthy Growth (revenue 5y +7.6 %/yr)
✓Solidly profitable · 11.5% net margin (TTM)
✓Low debt · generates free cash flow
✓Ranks above peers (11/15)
!Moderate moat 64/100
!Insider activity 45/100

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

970,916 ARS 2,320 ARS Fair Value 8,649 ARS Mar 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 29, 2026.

How to read this chart

60‑month range 2,320 ARS – 970,916 ARS · fair‑value band 8,215 ARS – 9,293 ARS · the 13,810 ARS price screens above the 8,649 ARS fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 29, 2026.

Follow Walt Disney Company DRC in your weekly email

Every Wednesday you see whether Walt Disney Company DRC is on track or worth a review, plus price against fair value. Free, up to 3 stocks.

We send you a confirmation link. Unsubscribe with one click.

Which stocks are undervalued right now? Check free Discover now →

Company profile

The Walt Disney Company operates as an entertainment company in Americas, Europe, and the Asia Pacific. It operates in three segments: Entertainment, Sports, and Experiences.

Show more

The Walt Disney Company operates as an entertainment company in Americas, Europe, and the Asia Pacific. It operates in three segments: Entertainment, Sports, and Experiences. The company produces and distributes film and television content under the ABC Television Network, Disney, Freeform, FX, Fox, National Geographic, and Star brand television channels, as well as ABC television stations and A+E television networks; and produces original content under the Disney Branded Television, FX Productions, Lucasfilm, Marvel, National Geographic Studios, Pixar, Searchlight Pictures, Twentieth Century Studios, 20th Television, and Walt Disney Pictures banners. It also provides direct-to-consumer streaming services through Disney+, Disney+ Hotstar, and Hulu; sports-related video streaming content through ESPN, ESPN on ABC, ESPN+ DTC, and Star; sale/licensing of film and episodic content to television and video-on-demand services; theatrical, home entertainment, and music distribution services; DVD and Blu-ray discs, electronic home video licenses, and VOD rental services; staging and licensing of live entertainment events; and post-production services. In addition, the company operates theme parks and resorts, such as Walt Disney World Resort, Disneyland Resort, Disneyland Paris, Hong Kong Disneyland Resort, Shanghai Disney Resort, Disney Cruise Line, Disney Vacation Club, National Geographic Expeditions, and Adventures by Disney, as well as Aulani, a Disney resort and spa in Hawaii. Further, it licenses its intellectual property (IP) to a third party that owns and operates Tokyo Disney Resort; licenses trade names, characters, visual, literary, and other IP for use on merchandise, published materials, and games; operates a direct-to-home satellite distribution platform; sells branded merchandise through retail, online, and wholesale businesses; and develops and publishes books, comic books, and magazines. The company was founded in 1923 and is based in Burbank, California.

Stock analysis

Walt Disney Company DRC (DISN) currently trades at 13,810 ARS, while our model-based Fair Value estimate is 8,649 ARS, 37.4% below the price, so the stock looks overvalued today.

Show more

Valuation

Bull case: the Growth Earnings group reads highest at a median of 25,460 ARS per share, and 18 of the 24 models we run sit above the 13,810 ARS price.

Bear case: the Earnings-Based group reads lowest at 7,404 ARS, and 6 of the 24 models stay below the price. Evidence for this calculation is high.

Scenario range: 8,215 ARS (bear) to 9,293 ARS (bull), the price of 13,810 ARS sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 66/100 (solid quality), in the Communication Services sector.

Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.

Walt Disney Company DRC reported revenue of $94.4B in FY2025 versus $67.4B in FY2021, a compound +8.8%/yr. Reported net income was $12.4B in FY2025, compounding +57.9%/yr from FY2021.

Key figures

Market cap 175T ARS (≈ $115B) · P/E ratio 44.8 · P/S ratio 5.88 · EPS (TTM) 308.31 ARS · Dividend yield 0.0% · Net margin 13.1% · Return on equity 11.0% · Return on assets (EBIT) 4.5%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 62 out of 100 (medium confidence).

What moves the price

The share trades about 7% below its 52-week high and 34% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Communication Services peers we cover trades at −46% fair-value upside, at −37%, DISN screens cheaper than that median.

Fair Value models

Bear 8,215 ARS Fair Value 8,649 ARS Bull 9,293 ARS
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 11 months old). Earnings retained since then (283.27 ARS per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
FCF DCF 10,892 ARS 18,075 ARS 28,728 ARS 79
Growth DCF 11,208 ARS 17,695 ARS 26,803 ARS 78
Residual Income 11,023 ARS 12,601 ARS 16,677 ARS 76
All 24 models by family
DCF Models
FCF DCF 10,892 ARS 18,075 ARS 28,728 ARS 79
Owner Earnings 10,442 ARS 17,396 ARS 27,711 ARS 75
5Y Revenue Exit 10,203 ARS 17,747 ARS 27,206 ARS 71
5Y EBITDA Exit 12,554 ARS 22,052 ARS 32,911 ARS 74
5Y P/E Exit 14,572 ARS 25,748 ARS 37,231 ARS 70
10Y Revenue Exit 9,913 ARS 16,794 ARS 25,687 ARS 66
10Y EBITDA Exit 11,810 ARS 19,749 ARS 29,956 ARS 67
10Y P/E Exit 13,086 ARS 22,286 ARS 33,190 ARS 63
Earnings-Based
Graham-Dodd 9,255 ARS 25,790 ARS 33,900 ARS 65
Lynch FV 5,183 ARS 7,404 ARS 9,625 ARS 61
PEG = 1.0 5,183 ARS 7,404 ARS 9,625 ARS 57
EPV 9,394 ARS 11,501 ARS 13,345 ARS 74
Multiples
P/E Multiple 22,456 ARS 29,941 ARS 37,427 ARS 63
P/S Multiple 17,352 ARS 23,137 ARS 28,921 ARS 58
P/B Multiple 17,352 ARS 23,137 ARS 28,921 ARS 55
EV/EBIT 14,962 ARS 21,033 ARS 27,103 ARS 65
EV/EBITDA 15,668 ARS 21,974 ARS 28,281 ARS 67
EV/Revenue 10,561 ARS 16,480 ARS 22,398 ARS 53
Asset-Based
NCAV (Graham) 6,027 ARS 8,077 ARS 12,055 ARS 54
Growth DCF
Growth DCF 11,208 ARS 17,695 ARS 26,803 ARS 78
Rev-Margin DCF 10,203 ARS 17,822 ARS 26,336 ARS 72
Economic Profit
Residual Income 11,023 ARS 12,601 ARS 16,677 ARS 76
ROIC Compounder 9,394 ARS 11,501 ARS 14,522 ARS 72
Growth Earnings
Growth-Adj P/E 17,822 ARS 25,460 ARS 33,099 ARS 67

Open the full fair value analysis →

Notify me when DISN reaches fair value

Put DISN on your watchlist. We get in touch as soon as price and fair value meet or the trend turns.

Set up alert →

Quality Score breakdown

Overall quality 66/100

Of which business quality 62 · Market factors (momentum, volatility) 60

Profitability 43
Margins and returns on capital today
Quality Growth 60
Are margins and returns improving?
Cashflow 55
Earnings quality: real cash, not paper profit
Fin. Strength 64
Balance sheet, leverage, solvency risk
Investment 80
Disciplined investing over empire-building
Low Volatility 16
Calm price path (market factor)
Momentum 81
Price trend over the last 3–12 months (market factor)
52W Momentum 74
Distance to the 52-week high (market factor)
Net Issuance 86
Share count: buybacks or dilution?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 80/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+3.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.6%
Start year 2020 (pandemic)
What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+58.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+58.1%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.6% → 15%
2025 sits 292% above its own trend. The rate follows the median trend of the last 5 years, not that single year.

DISN screens overvalued: fair value 37% below the price. Compare with Netflix, Inc →

Compare Walt Disney Company DRC with another stock

Price, fair value, quality and upside side by side.

Free, no sign-up

Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Entertainment · 234 stocks

Beats the industry median on 11/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 66 · Top 25%
Fair Value upside −0.1% · Above median
Profitability
Return on equity (TTM) 11.0% · Top 25%
Return on assets 4.5% · Top 25%
Net margin (TTM) 11.5% · Top 25%
Operating margin (TTM) 15.5% · Top 25%
Growth and dividend
Revenue growth 6.5% · Above median
Dividend yield (TTM) 0.0% · Bottom 25%
Balance sheet
Debt / equity 0.32× · Above median

Valuation Multiplesvs Entertainment median · lower = cheaper

P/E (TTM) 44.8× · Priciest 25%
P/B 1.05× · Cheaper than median
P/S (TTM) 1.18× · Pricier than median
P/FCF 11.4× · Cheaper than median
EV/EBITDA 7.3× · Cheaper than median
PEG 0.38× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)32 · sector 31
FUTURE (revenue growth)33 · sector 27
PAST (return on equity)44 · sector 4
HEALTH (low debt)84 · sector 96
DIVIDEND (yield)0 · sector 49

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Entertainment stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Netflix, Inc NFLX $69.58 $76.54 +10%
Warner Bros. Discovery, Inc WBD $30.86 $13.47 −56%
Live Nation Entertainment, Inc LYV $170.87 $48.93 −71%
TKO Group TKO $182.67 $69.66 −62%
Universal Music Group UMG €14.59 €16.05 +10%
Fox Corporation FOX $56.54 $65.92 +17%
Formula One Group FWONK $94.61 $104.07 +10%
Roku, Inc ROKU $152.67 $42.86 −72%
News Corporation NWS $31.75 $17.05 −46%
Warner Music Group WMG $27.14 $10.85 −60%

Explore undervalued stocks

More undervalued Communication Services stocks →

Try a ready-made strategy

Pick a strategy and jump into the live analysis with that exact screen applied.

🥇 Backtested Best 🏆 Big Names ⭐ Top Rated 💎 Quality on Sale 🚀 Profitable Growth 🧊 Quality Compounders 💵 Dividend Stars 📈 Strong Momentum 📉 Fallen Angels ⚖️ Deeply Undervalued 🔍 Small-Cap Gems 🏰 Moat at a Fair Price 💼 Insider Buying 🎩 Buffett-Style Quality 📚 Peter Lynch GARP 🧮 Greenblatt Magic Formula 🛡️ Graham Defensive

Discover tools

For bloggers & editors: embed code + live data

For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.

Cite: Fair Value Calculator (2026). "Walt Disney Company DRC Fair Value". https://www.fairvalue-calculator.com/stock/DISN

Frequently asked questions

Is Walt Disney Company (DISN) overvalued or undervalued?
As of Sep 29, 2026, our model estimates a fair value of 8,649 ARS versus a price of 13,810 ARS, about −37% upside (overvalued).
What is the fair value of DISN?
Our model-based fair value for Walt Disney Company DRC is 8,649 ARS (as of Sep 29, 2026), built from audited fundamentals. The current price: 13,810 ARS.
What is the quality score of DISN?
Walt Disney Company DRC has a Quality Score of 66/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Walt Disney Company (DISN)?
Our model-based price target is the fair value of 8,649 ARS (as of Sep 29, 2026) from 24 valuation models. Cautious scenario 8,215 ARS, optimistic scenario 9,293 ARS. It is a calculation from audited fundamentals, not an analyst target.
What is the Walt Disney Company DRC stock forecast for 2026?
Our models put fair value at 8,649 ARS, about −37% upside versus a price of 13,810 ARS (overvalued). Cautious scenario 8,215 ARS, optimistic scenario 9,293 ARS. The calculation is refreshed regularly with new filings.
What is the revenue of Walt Disney Company (DISN)?
Walt Disney Company DRC reported trailing-twelve-month revenue of about $97.3B (latest available figure, as of Sep 29, 2026).
Does Walt Disney Company DRC pay a dividend?
Walt Disney Company DRC currently shows a dividend yield of about 0.01% relative to its recent price (as of Sep 29, 2026).
What is the intrinsic value of Walt Disney Company (DISN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Walt Disney Company DRC it is 8,649 ARS per share (as of Sep 29, 2026), against a price of 13,810 ARS. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Walt Disney Company DRC stock overvalued or undervalued in 2026?
As of Sep 29, 2026, DISN trades above its calculated fair value: price 13,810 ARS, fair value 8,649 ARS, a gap of about −37% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of DISN?
No. The price is what the market pays today (13,810 ARS); the fair value is what the company's own numbers justify (8,649 ARS). For Walt Disney Company DRC the two are 5,161 ARS per share apart. That gap is exactly why we show both numbers side by side.
How much is Walt Disney Company DRC worth?
The market values Walt Disney Company DRC at about 175T ARS (market capitalisation, as of Sep 29, 2026). Per share that is 13,810 ARS; our models calculate a fair value of 8,649 ARS per share.
What do the bullish and bearish scenarios say about DISN?
Our models span a range for Walt Disney Company DRC: cautious scenario 8,215 ARS, base 8,649 ARS, optimistic 9,293 ARS per share (as of Sep 29, 2026, price 13,810 ARS). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of DISN?
Walt Disney Company DRC trades at a price-to-earnings ratio of 44.8 (as of Sep 29, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 8,649 ARS is built from several models across several years. Other multiples: PEG 0.4, P/B 1.1, P/S 1.2, EV/EBITDA 7.3.
What is the PEG ratio of DISN?
The PEG ratio of Walt Disney Company DRC is 0.38 (P/E divided by earnings growth, as of Sep 29, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Walt Disney Company (DISN)?
Balance-sheet figures for Walt Disney Company DRC (as of Sep 29, 2026): return on equity 11.0%, debt of 0.32 per unit of equity. They feed the Quality Score of 66/100, which measures business quality independently of the share price.
How far is DISN from its 52-week high?
Walt Disney Company DRC trades at 13,810 ARS, about 7% below its 52-week high of 14,850 ARS and 34% above the low of 10,328 ARS (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of 8,649 ARS is for.
Which stocks are comparable to Walt Disney Company DRC?
From the same area (Communication Services) we also value Netflix, Inc, Warner Bros. Discovery, Inc, Live Nation Entertainment, Inc, TKO Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Walt Disney Company DRC stock attractive at the current price?
The data as of Sep 29, 2026: price 13,810 ARS, calculated fair value 8,649 ARS (−37%), Quality Score 66/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of DISN calculated?
We run Walt Disney Company DRC through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 8,649 ARS, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Walt Disney Company DRC itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Walt Disney Company (DISN)?
The closing price on Oct 2, 2026 was 13,810 ARS. Our model-based fair value is 8,649 ARS, about −37% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Walt Disney Company DRC right now?
The price sits above even our optimistic bull case (9,293 ARS). The favourable scenario is already priced in. Solid but not exceptional quality (66/100) and above fair value, neither a clear bargain nor a standout compounder. The models converge in a tight band (8,215 ARS to 9,293 ARS), unusually little disagreement for a valuation.

Key figures of Walt Disney Company DRC

How large is the market capitalisation of Walt Disney Company (DISN)?
The market capitalisation of Walt Disney Company DRC is 175T ARS (≈ $115B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Walt Disney Company (DISN)?
The price-to-sales ratio of Walt Disney Company DRC is 5.88 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Walt Disney Company (DISN)?
Earnings per share at Walt Disney Company DRC are 308.31 ARS (price ÷ EPS = P/E 44.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Walt Disney Company (DISN)?
The dividend yield of Walt Disney Company DRC is 0.0% (payout 0.5%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Walt Disney Company (DISN)?
The net margin of Walt Disney Company DRC is 13.1% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Walt Disney Company (DISN)?
The return on equity (ROE) of Walt Disney Company DRC is 11.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Walt Disney Company (DISN)?
On an EBIT basis the return on assets of Walt Disney Company DRC is 4.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Walt Disney Company (DISN)?
The operating margin of Walt Disney Company DRC is 15.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Walt Disney Company (DISN)?
Revenue at Walt Disney Company DRC is growing +6.5% versus a year earlier (3y avg +4.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Walt Disney Company (DISN)?
Earnings per share at Walt Disney Company DRC are growing −29.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Walt Disney Company (DISN) generate?
The free cash flow of Walt Disney Company DRC is $10.1B (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Walt Disney Company (DISN) carry?
The net debt of Walt Disney Company DRC is $36.3B (fiscal year 2025, ≈ 3.6 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed

Watch Walt Disney Company DRC in the live analysis

One click puts Walt Disney Company DRC on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.

Watch for free →

Zero risk: nothing is ever charged. Your watchlist is yours, with or without an account.