Warner Music Group Corp. (WMG)

Warner Music Group Income Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2025	Sep 30, 2024	Sep 30, 2023	Sep 30, 2022	Sep 30, 2021
Revenue	6,707	6,426	6,037	5,919	5,301
Revenue Growth (YoY)	4.37%	6.44%	1.99%	11.66%	18.78%
Cost of Revenue	3,632	3,355	3,177	3,080	2,742
Gross Profit	3,075	3,071	2,860	2,839	2,559
Selling, General & Admin	1,811	1,803	1,826	1,816	1,721
Amortization of Goodwill & Intangibles	258	224	245	263	229
Operating Expenses	2,069	2,027	2,071	2,079	1,950
Operating Income	1,006	1,044	789	760	609
Interest Expense	-177	-182	-157	-125	-122
Interest & Investment Income	15	21	16	-	-
Earnings From Equity Investments	8	8	-	-	-
Currency Exchange Gain (Loss)	-75	-73	-37	185	-5
Other Non Operating Income (Expenses)	-4	4	1	15	-
EBT Excluding Unusual Items	773	822	612	835	482
Merger & Restructuring Charges	-304	-253	-40	-46	-
Gain (Loss) on Sale of Investments	29	-	-	-49	-4
Gain (Loss) on Sale of Assets	-	32	41	-	-
Other Unusual Items	-8	-	-4	-	-22
Pretax Income	490	601	609	740	456
Income Tax Expense	120	123	170	185	149
Earnings From Continuing Operations	370	478	439	555	307
Minority Interest in Earnings	-5	-43	-9	-4	-3
Net Income	365	435	430	551	304
Preferred Dividends & Other Adjustments	4	6	6	7	4
Net Income to Common	361	429	424	544	300
Net Income Growth	-16.09%	1.16%	-21.96%	81.25%	-
Shares Outstanding (Basic)	521	518	516	515	513
Shares Outstanding (Diluted)	521	518	516	515	513
Shares Change (YoY)	0.58%	0.35%	0.20%	0.24%	1.77%
EPS (Basic)	0.69	0.83	0.82	1.06	0.58
EPS (Diluted)	0.69	0.83	0.82	1.06	0.58
EPS Growth	-16.33%	0.83%	-22.21%	80.90%	-
Free Cash Flow	539	638	560	607	545
Free Cash Flow Per Share	1.04	1.23	1.09	1.18	1.06
Dividend Per Share	0.730	0.690	0.650	0.610	0.510
Dividend Growth	5.80%	6.15%	6.56%	19.61%	325.00%
Gross Margin	45.85%	47.79%	47.38%	47.96%	48.27%
Operating Margin	15.00%	16.25%	13.07%	12.84%	11.49%
Profit Margin	5.38%	6.68%	7.02%	9.19%	5.66%
Free Cash Flow Margin	8.04%	9.93%	9.28%	10.26%	10.28%
EBITDA	1,382	1,371	1,121	1,099	915
EBITDA Margin	20.61%	21.34%	18.57%	18.57%	17.26%
D&A For EBITDA	376	327	332	339	306
EBIT	1,006	1,044	789	760	609
EBIT Margin	15.00%	16.25%	13.07%	12.84%	11.49%
Effective Tax Rate	24.49%	20.47%	27.91%	25.00%	32.67%
Advertising Expenses	113	119	136	155	149

Updated Nov 20, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q