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  "documentTitle": "Trian Partners | Activist Presentation Deck | 133 slides",
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  "notes": "Uses red arrows and percentage drops to emphasize negative performance.",
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      "text": "Comparison of Adj. Earnings per Share, Free Cash Flow, and Annual Dividends per Share between FY 2018 and FY 2023.",
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      "text": "Disney has clearly not earned an adequate return on the $200bn of capital invested in M&A, CapEx, and content spend.",
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      "text": "...But Financial Performance Has Deteriorated...",
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