Warner Bros. Discovery, Inc. (WBD)

NASDAQ: WBD · Real-Time Price · USD

27.07

+0.20 (0.74%)

At close: Aug 11, 2026, 4:00 PM EDT

27.11

+0.04 (0.15%)

After-hours: Aug 11, 2026, 7:49 PM 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	17,064	16,411	16,351	16,795	13,375	7,571
Operating Income	-1,272	738	-10,032	-1,548	-7,370	2,012
Net Income	-3,167	727	-11,311	-3,126	-7,371	1,006
Earnings Per Share	-1.27	0.29	-4.62	-1.28	-3.82	1.54
EPS Growth	-	-	-	-	-	-14.92%

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	3,369	4,566	5,312	3,780	3,731	3,905
Total Debt	32,023	32,567	39,505	43,669	48,999	14,759
Net Cash (Debt)	-28,654	-28,001	-34,193	-39,889	-45,268	-10,854
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-11.43	-11.07	-13.96	-16.37	-23.33	-16.35

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	47.25%	44.00%	41.58%	40.65%	39.55%	62.10%
Operating Margin	-3.52%	1.98%	-25.51%	-3.75%	-21.79%	16.50%
Pretax Margin	-10.44%	4.39%	-28.96%	-9.35%	-26.50%	11.75%
Profit Margin	-8.68%	2.01%	-29.20%	-7.45%	-21.58%	9.82%
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 12, 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	-	99.38	-	-	-	15.29
Forward PE	122.32	201.41	22.16	25.18	18.82	7.53
P/FCF Ratio	31.18	23.15	5.86	4.51	6.94	4.91
PS Ratio	1.88	1.92	0.66	0.67	0.68	0.98