If you listened to the analysts, you’d think TV advertising revenue was The Walt Disney Co.’s only source of revenue. But that’s not the case.

CEO and President Robert Iger, speaking to Cramer on Monday, said advertising represents only 20% of the money Disney

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[DIS  Loading...      ()   ] brings in, and that number’s been declining over the years, “purposefully.”

“We believe that our portfolio of businesses, in terms of revenue generation, needs to be as diverse as possible,” Iger said.

On top of that, Cramer pointed out, Disney is much more than just a media company. This is a business built on brands and franchises. And those brands are global, Iger said, and their success begets future success for each brand Disney launches.

Another aspect of this company’s business that the analysts seem to have gotten wrong is the theme-park division. Many of them assumed this bad economy would hurt Disney, but the company reported strong quarterly numbers in this segment anyway.

Iger said his theme parks are “great from a quality perspective and affordable.” Disney has put a lot of work into improving the visitor experience, whether that be on rides, in onsite hotels or interactions with the parks’ cast of characters.

“That has made a big difference,” Iger said. “It’s given us the ability to attract more people and to be much more resilient in tougher times.”

“This company at 14 times earnings is a travesty,” Cramer said of Disney’s cheap stock. “I think it goes higher. I think you should get on it before they report the next quarter.”

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