WBD

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Warner Bros. Discovery, Inc.

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Key Metrics

Previous Close: $28.53
52-Week Range: $11.25 – $30.00
Market Cap: $70.78B
P/E (TTM): —
EPS (TTM): -1.28
Dividend Yield: —

Advanced Metrics

Price/Book: 2.16
PEG Ratio: 216.92
Return on Equity: -8.79%
Return on Assets: 1.71%
Gross Margin: 47.81%
Operating Margin: 5.10%
Profit Margin: -8.77%
Current Ratio: 0.78
Debt/Equity: 0.94
Total Debt: $32.02B
Free Cash Flow: $16.17B
Revenue Growth: -11.20%
Earnings Growth: -90.60%
Enterprise Value: $101.40B

WBD Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$33.82B	$41.32B	$39.32B	$37.30B
Cost of Revenue	$20.44B	$24.53B	$22.97B	$20.89B
Gross Profit	$13.38B	$16.80B	$16.35B	$16.41B
Selling, General & Admin	$9.68B	$9.70B	$9.30B	$9.42B
Operating Expenses	$16.87B	$17.68B	$16.33B	$15.10B
Operating Income	-$3.50B	-$886.00M	$18.00M	$1.31B
EBITDA	$14.17B	$22.37B	$11.61B	$21.26B
Pretax Income	-$8.96B	-$3.86B	-$11.39B	$1.64B
Income Tax	-$1.66B	-$784.00M	$94.00M	$890.00M
Net Income	-$7.37B	-$3.13B	-$11.31B	$727.00M
Diluted EPS	-3.82	-1.28	-4.62	0.29
Diluted Shares	1.94B	2.44B	2.45B	2.53B

WBD Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$3.73B	$3.78B	$5.31B	$4.57B
Receivables	$7.61B	$7.31B	$5.93B	$6.37B
Current Assets	$14.00B	$14.22B	$14.08B	$13.21B
Total Assets	$134.00B	$122.76B	$104.56B	$100.08B
Current Liabilities	$15.02B	$15.33B	$15.81B	$12.50B
Long-Term Debt	$48.63B	$41.89B	$36.76B	$32.43B
Total Debt	$49.00B	$43.67B	$39.51B	$32.57B
Total Liabilities	$85.33B	$76.28B	$69.62B	$62.92B
Retained Earnings	$2.21B	-$928.00M	-$12.24B	-$11.51B
Shareholders' Equity	$47.09B	$45.23B	$34.04B	$35.92B
Working Capital	-$1.02B	-$1.11B	-$1.73B	$706.00M
Net Debt	$45.27B	$39.89B	$34.19B	$28.00B

WBD Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$4.30B	$7.48B	$5.38B	$4.32B
Capital Expenditure	-$987.00M	-$1.32B	-$948.00M	-$1.23B
Free Cash Flow	$3.32B	$6.16B	$4.43B	$3.09B
Depreciation & Amortisation	$21.35B	$24.01B	$20.98B	$17.54B
Stock-Based Compensation	$412.00M	$500.00M	$557.00M	$769.00M
Investing Cash Flow	$3.52B	-$1.26B	-$349.00M	-$1.18B
Financing Cash Flow	-$7.74B	-$5.84B	-$3.75B	-$4.24B
Share Repurchases	$0.00	—	—	—
Net Change in Cash	$86.00M	$381.00M	$1.28B	-$1.10B

WBD Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$8.98B	$9.81B	$9.04B	$9.46B	$8.89B
Cost of Revenue	$5.13B	$5.97B	$4.56B	$5.22B	$4.64B
Gross Profit	$3.85B	$3.85B	$4.48B	$4.24B	$4.25B
Selling, General & Admin	$2.19B	$2.48B	$2.36B	$2.39B	$2.48B
Operating Expenses	$3.74B	$3.92B	$3.74B	$3.70B	$3.70B
Operating Income	$107.00M	-$79.00M	$745.00M	$536.00M	$549.00M
EBITDA	$4.73B	$8.01B	$4.28B	$4.25B	$1.19B
Pretax Income	-$434.00M	$2.45B	$27.00M	-$408.00M	-$3.12B
Income Tax	$15.00M	$866.00M	$170.00M	-$161.00M	-$214.00M
Net Income	-$453.00M	$1.58B	-$148.00M	-$252.00M	-$2.92B
Diluted EPS	-0.18	0.63	-0.06	—	-1.17
Diluted Shares	2.46B	2.50B	2.48B	—	2.49B

WBD Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$3.87B	$4.89B	$4.29B	$4.57B	$3.26B
Receivables	$4.66B	$5.38B	$5.13B	$6.37B	$5.01B
Current Assets	$12.78B	$13.61B	$13.06B	$13.21B	$11.74B
Total Assets	$101.68B	$101.73B	$100.52B	$100.08B	$97.84B
Current Liabilities	$15.29B	$13.04B	$12.16B	$12.50B	$16.11B
Long-Term Debt	$34.65B	$34.41B	$33.38B	$32.43B	$30.97B
Total Debt	$37.43B	$34.63B	$33.52B	$32.57B	$32.47B
Total Liabilities	$66.51B	$64.38B	$63.21B	$62.92B	$64.13B
Retained Earnings	-$12.69B	-$11.11B	-$11.26B	-$11.51B	-$14.43B
Shareholders' Equity	$33.84B	$36.05B	$36.02B	$35.92B	$32.58B
Working Capital	-$2.50B	$571.00M	$899.00M	$706.00M	-$4.37B
Net Debt	$33.56B	$29.74B	$29.23B	$28.00B	$29.20B

WBD Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	$553.00M	$983.00M	$979.00M	$1.80B	-$208.00M
Capital Expenditure	-$251.00M	-$281.00M	-$278.00M	-$421.00M	-$268.00M
Free Cash Flow	$302.00M	$702.00M	$701.00M	$1.38B	-$476.00M
Depreciation & Amortisation	$4.69B	$5.09B	$3.68B	$4.08B	$3.73B
Stock-Based Compensation	$123.00M	$175.00M	$242.00M	$229.00M	$152.00M
Investing Cash Flow	-$195.00M	-$236.00M	-$330.00M	-$418.00M	-$282.00M
Financing Cash Flow	-$1.90B	$9.00M	-$1.24B	-$1.12B	-$756.00M
Net Change in Cash	-$1.54B	$756.00M	-$588.00M	$269.00M	-$1.25B

Market Snapshot

About

Warner Bros. Discovery, Inc. is a global media and entertainment conglomerate formed from the merger of WarnerMedia and Discovery, Inc. in 2022. The company operates premium content brands including HBO, CNN, Discovery Channel, Warner Bros. Pictures, and DC Comics. WBD distributes content across streaming platforms, television networks, and theatrical releases worldwide.