Warner Bros. Discovery, Inc. (WBD)

NASDAQ: WBD · Real-Time Price · USD

28.23

-0.30 (-1.05%)

At close: Aug 20, 2026, 4:00 PM EDT

28.48

+0.25 (0.89%)

Pre-market: Aug 21, 2026, 7:10 AM EDT

Warner Bros. Discovery Financials Overview

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	36,115	37,296	39,321	41,321	33,817	12,191
Revenue Growth	-6.05%	-5.15%	-4.84%	22.19%	177.39%	14.24%
Gross Profit	17,267	16,614	16,744	17,006	13,426	7,576
Operating Income	2,718	1,678	510	-576	-2,250	2,073
Net Income	-3,166	728	-11,314	-3,126	-7,420	912
Earnings Per Share	-1.27	0.29	-4.62	-1.28	-3.82	1.54
EPS Growth	-	-	-	-	-	-15.15%

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Distribution	19,347	19,262	19,701	20,237	16,142	5,202
Advertising	6,681	7,306	8,090	8,700	8,524	6,194
Content	9,025	9,647	10,297	11,203	8,360	737
Other Sources	1,062	1,081	1,233	1,181	791	58
Revenue (Total)	36,115	37,296	39,321	41,321	33,817	12,191

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Investments	3,411	4,583	5,329	3,804	3,741	4,115
Total Debt	32,023	36,761	43,006	47,290	52,602	15,648
Net Cash (Debt)	-28,612	-32,178	-37,677	-43,486	-48,861	-11,533
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-11.49	-12.72	-15.38	-17.85	-25.19	-17.37

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Cash Flow	3,423	4,319	5,375	7,477	4,304	2,798
Capital Expenditures	-1,243	-1,231	-948	-1,316	-987	-373
Free Cash Flow	2,180	3,088	4,427	6,161	3,317	2,425
Free Cash Flow Growth	-46.37%	-30.25%	-28.14%	85.74%	36.78%	3.77%

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Gross Margin	47.81%	44.55%	42.58%	41.16%	39.70%	62.14%
Operating Margin	7.53%	4.50%	1.30%	-1.39%	-6.65%	17.00%
Pretax Margin	-10.44%	4.39%	-28.96%	-9.35%	-26.50%	11.75%
Profit Margin	-8.77%	1.95%	-28.77%	-7.56%	-21.94%	7.48%
FCF Margin	6.04%	8.28%	11.26%	14.91%	9.81%	19.89%

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Aug '26 Aug 21, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
PE Ratio	-	98.16	-	-	-	16.81
Forward PE	153.09	201.41	22.16	25.18	18.82	7.53
P/FCF Ratio	32.51	23.14	5.86	4.50	6.94	6.32
PS Ratio	1.96	1.92	0.66	0.67	0.68	1.26