Warner Music Group Cash Flow Statement

Financials in millions USD. Fiscal year is October - September.

Millions USD. Fiscal year is Oct - Sep.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2016 - 2020
Period Ending	Sep '25 Sep 30, 2025	Sep '24 Sep 30, 2024	Sep '23 Sep 30, 2023	Sep '22 Sep 30, 2022	Sep '21 Sep 30, 2021	2016 - 2020
Net Income	365	435	430	551	304	Upgrade
Depreciation & Amortization	376	327	332	339	306	Upgrade
Loss (Gain) From Sale of Assets	-	-32	-42	-	-	Upgrade
Asset Writedown & Restructuring Costs	139	57	-	-	-	Upgrade
Loss (Gain) From Sale of Investments	-27	-6	-3	46	4	Upgrade
Stock-Based Compensation	54	52	49	39	45	Upgrade
Other Operating Activities	-8	69	40	-146	60	Upgrade
Change in Accounts Receivable	-61	-110	-113	-195	-58	Upgrade
Change in Inventory	-11	30	-12	-22	-19	Upgrade
Change in Accounts Payable	-28	86	77	-21	91	Upgrade
Change in Unearned Revenue	40	-133	-58	86	47	Upgrade
Change in Other Net Operating Assets	-161	-21	-13	65	-142	Upgrade
Operating Cash Flow	678	754	687	742	638	Upgrade
Operating Cash Flow Growth	-10.08%	9.75%	-7.41%	16.30%	37.80%	Upgrade
Capital Expenditures	-139	-116	-127	-135	-93	Upgrade
Divestitures	-	19	45	-	-	Upgrade
Sale (Purchase) of Intangibles	-195	-187	-114	-191	-481	Upgrade
Investment in Securities	-6	-27	-104	-498	-64	Upgrade
Investing Cash Flow	-340	-311	-300	-824	-638	Upgrade
Long-Term Debt Issued	-	104	165	535	1,093	Upgrade
Total Debt Issued	-	104	165	535	1,093	Upgrade
Long-Term Debt Repaid	-1	-104	-1	-	-849	Upgrade
Total Debt Repaid	-1	-104	-1	-	-849	Upgrade
Net Debt Issued (Repaid)	-1	-	164	535	244	Upgrade
Repurchase of Common Stock	-36	-5	-	-6	-	Upgrade
Common Dividends Paid	-383	-361	-340	-318	-265	Upgrade
Other Financing Activities	-77	-30	-149	-23	-40	Upgrade
Financing Cash Flow	-497	-396	-325	188	-61	Upgrade
Foreign Exchange Rate Adjustments	-	6	-5	-21	7	Upgrade
Miscellaneous Cash Flow Adjustments	-3	-	-	-	-	Upgrade
Net Cash Flow	-162	53	57	85	-54	Upgrade
Free Cash Flow	539	638	560	607	545	Upgrade
Free Cash Flow Growth	-15.52%	13.93%	-7.74%	11.38%	44.18%	Upgrade
Free Cash Flow Margin	8.04%	9.93%	9.28%	10.26%	10.28%	Upgrade
Free Cash Flow Per Share	1.04	1.23	1.09	1.18	1.06	Upgrade
Cash Interest Paid	167	183	157	122	137	Upgrade
Cash Income Tax Paid	181	135	219	141	124	Upgrade
Levered Free Cash Flow	631.13	778.75	499	513.88	235.38	Upgrade
Unlevered Free Cash Flow	741.75	892.5	597.13	592	311.63	Upgrade
Change in Working Capital	-221	-148	-119	-87	-81	Upgrade

Source: S&P Global Market Intelligence. Standard template. Financial Sources.