Warner Bros. Discovery, Inc. (WBD)
NASDAQ: WBD · Real-Time Price · USD
28.48
+0.55 (1.97%)
At close: Aug 18, 2026, 4:00 PM EDT
28.55
+0.07 (0.25%)
After-hours: Aug 18, 2026, 7:55 PM EDT
Warner Bros. Discovery Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
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 |
Net Income | -3,167 | 727 | -11,311 | -3,126 | -7,371 | 1,006 |
Depreciation & Amortization | 5,075 | 5,684 | 7,037 | 7,985 | 7,193 | 1,582 |
Other Amortization | 9,836 | 11,652 | 13,553 | 15,813 | 14,110 | 3,496 |
Asset Writedown & Restructuring Costs | 349 | 375 | 10,161 | 403 | 2,975 | -66 |
Loss (Gain) From Sale of Investments | -4 | -4 | -227 | - | -199 | -19 |
Loss (Gain) on Equity Investments | 75 | 75 | 167 | 157 | 211 | 63 |
Stock-Based Compensation | 813 | 769 | 557 | 500 | 412 | 178 |
Other Operating Activities | 1,996 | -3,657 | -2,436 | -2,266 | -2,045 | -205 |
Change in Accounts Receivable | 402 | -336 | 1,012 | 312 | 181 | 47 |
Change in Accounts Payable | -584 | 108 | -529 | -820 | 1,529 | 185 |
Change in Other Net Operating Assets | -11,368 | -11,074 | -12,609 | -11,481 | -12,692 | -3,469 |
Operating Cash Flow | 3,423 | 4,319 | 5,375 | 7,477 | 4,304 | 2,798 |
Operating Cash Flow Growth | -32.86% | -19.65% | -28.11% | 73.72% | 53.82% | 2.15% |
Investing Activities
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 |
Capital Expenditures | -1,243 | -1,231 | -948 | -1,316 | -987 | -373 |
Cash Acquisitions | - | - | - | -50 | 3,612 | -2 |
Investment in Securities | -90 | -46 | 432 | -112 | 138 | 312 |
Other Investing Activities | 152 | 98 | 167 | 219 | 761 | 7 |
Investing Cash Flow | -1,247 | -1,179 | -349 | -1,259 | 3,524 | -56 |
Financing Activities
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 |
Short-Term Debt Issued | - | 4,228 | 14,203 | 5,207 | - | - |
Long-Term Debt Issued | - | 18,306 | 1,617 | 1,496 | 2,393 | - |
Total Debt Issued | 16,722 | 22,534 | 15,820 | 6,703 | 2,393 | - |
Short-Term Debt Repaid | - | -4,228 | -14,203 | -5,214 | - | - |
Long-Term Debt Repaid | - | -22,866 | -5,185 | -6,992 | -9,710 | -574 |
Total Debt Repaid | -19,793 | -27,094 | -19,388 | -12,206 | -9,710 | -574 |
Net Debt Issued (Repaid) | -3,071 | -4,560 | -3,568 | -5,503 | -7,317 | -574 |
Other Financing Activities | -556 | 320 | -181 | -334 | -425 | -279 |
Financing Cash Flow | -3,627 | -4,240 | -3,749 | -5,837 | -7,742 | -853 |
Net Cash Flow
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 |
Foreign Exchange Rate Adjustments | -67 | 254 | -180 | 8 | -61 | -106 |
Net Cash Flow | -1,518 | -846 | 1,097 | 389 | 25 | 1,783 |
Free Cash Flow
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 |
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% |
Free Cash Flow Margin | 6.04% | 8.28% | 11.26% | 14.91% | 9.81% | 19.89% |
Free Cash Flow Per Share | 0.88 | 1.22 | 1.81 | 2.53 | 1.71 | 3.65 |
Levered Free Cash Flow | 16,167 | 16,018 | 20,459 | 20,036 | 22,627 | 6,995 |
Unlevered Free Cash Flow | 17,577 | 17,328 | 21,685 | 21,387 | 23,438 | 7,418 |
Additional Metrics
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 |
Cash Interest Paid | 2,295 | 2,295 | 1,996 | 2,237 | 1,539 | 664 |
Cash Income Tax Paid | 1,926 | 1,926 | 1,113 | 1,440 | 1,027 | 643 |
Change in Working Capital | -11,550 | -11,302 | -12,126 | -11,989 | -10,982 | -3,237 |