Warner Bros. Discovery, Inc. (WBD)

28.77 -0.38% (-0.11)

Over 5Y: +0.1%

2026-08-28
10 20 30
2021 2022 2023 2024 2025 2026

Financials Quarterly

Q3 '21 — Revenue: 3.1B Q3 '21 — Operating Cash Flow: 811M Q3 '21 — Free Cash Flow: 705M Q3 '21 — Net Income: 156M Q4 '21 — Revenue: 3.2B Q4 '21 — Operating Cash Flow: 884M Q4 '21 — Free Cash Flow: 784M Q4 '21 — Net Income: 38M Q1 '22 — Revenue: 3.2B Q1 '22 — Operating Cash Flow: 323M Q1 '22 — Free Cash Flow: 238M Q1 '22 — Net Income: 456M Q2 '22 — Revenue: 9.8B Q2 '22 — Operating Cash Flow: 1B Q2 '22 — Free Cash Flow: 789M Q2 '22 — Net Income: -3.4B Q3 '22 — Revenue: 9.8B Q3 '22 — Operating Cash Flow: 124M Q3 '22 — Free Cash Flow: -192M Q3 '22 — Net Income: -2.3B Q4 '22 — Revenue: 11B Q4 '22 — Operating Cash Flow: 2.8B Q4 '22 — Free Cash Flow: 2.5B Q4 '22 — Net Income: -2.1B Q1 '23 — Revenue: 10.7B Q1 '23 — Operating Cash Flow: -631M Q1 '23 — Free Cash Flow: -930M Q1 '23 — Net Income: -1.1B Q2 '23 — Revenue: 10.4B Q2 '23 — Operating Cash Flow: 2B Q2 '23 — Free Cash Flow: 1.7B Q2 '23 — Net Income: -1.2B Q3 '23 — Revenue: 10B Q3 '23 — Operating Cash Flow: 2.5B Q3 '23 — Free Cash Flow: 2.1B Q3 '23 — Net Income: -417M Q4 '23 — Revenue: 10.3B Q4 '23 — Operating Cash Flow: 3.6B Q4 '23 — Free Cash Flow: 3.3B Q4 '23 — Net Income: -400M Q1 '24 — Revenue: 10B Q1 '24 — Operating Cash Flow: 585M Q1 '24 — Free Cash Flow: 390M Q1 '24 — Net Income: -966M Q2 '24 — Revenue: 9.7B Q2 '24 — Operating Cash Flow: 1.2B Q2 '24 — Free Cash Flow: 976M Q2 '24 — Net Income: -10B Q3 '24 — Revenue: 9.6B Q3 '24 — Operating Cash Flow: 847M Q3 '24 — Free Cash Flow: 632M Q3 '24 — Net Income: 135M Q4 '24 — Revenue: 10B Q4 '24 — Operating Cash Flow: 2.7B Q4 '24 — Free Cash Flow: 2.4B Q4 '24 — Net Income: -494M Q1 '25 — Revenue: 9B Q1 '25 — Operating Cash Flow: 553M Q1 '25 — Free Cash Flow: 302M Q1 '25 — Net Income: -453M Q2 '25 — Revenue: 9.8B Q2 '25 — Operating Cash Flow: 983M Q2 '25 — Free Cash Flow: 702M Q2 '25 — Net Income: 1.6B Q3 '25 — Revenue: 9B Q3 '25 — Operating Cash Flow: 979M Q3 '25 — Free Cash Flow: 701M Q3 '25 — Net Income: -148M Q4 '25 — Revenue: 9.5B Q4 '25 — Operating Cash Flow: 1.8B Q4 '25 — Free Cash Flow: 1.4B Q4 '25 — Net Income: -252M Q1 '26 — Revenue: 8.9B Q1 '26 — Operating Cash Flow: -208M Q1 '26 — Free Cash Flow: -476M Q1 '26 — Net Income: -2.9B Q2 '26 — Revenue: 8.7B Q2 '26 — Operating Cash Flow: 848M Q2 '26 — Free Cash Flow: 572M Q2 '26 — Net Income: 149M -5B 0 5B 10B 15B
Q4 '21 Q3 '22 Q2 '23 Q1 '24 Q4 '24 Q3 '25 Q2 '26
Revenue Operating Cash Flow Free Cash Flow Net Income

Figures as at 2026-06-30, reported in USD. The newest fact in the filings is dated 2026-06-30, 61 days ago. Nothing on this page is advice.

How it scores

Five questions, each answered by the measures under it. Every figure is the company's own; the bar beside it is where that figure sits among the companies read here — the top fifth, the bottom fifth, or somewhere between. Not among all listed companies, and for a valuation multiple the low end is the good end.

Quality

How much of the revenue is really kept — and what did it take to earn it?

2.8
OE margin 3.8%
Oper. margin -3.5%
ROIC -1.6%
Accruals -6.8%
FCF margin 6.0%
Gross margin 33.2%
OCF margin 9.5%
ROA -3.3%
ROCE -1.6%
ROE -9.6%
OCF / EBIT —

5 of 17 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Valuation

What does the price ask for what the company earns, owns and pays out?

0.5
Div. yield —
EV/EBIT —
EV/GP —
EV/OE —
EV/Sales —
FCF yield —
Fwd P/E —
P/B —
P/C —
P/E —
PEG —

0 of 12 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Durability

How predictable is the revenue, and how much of it is already committed?

3.4
RPO / sales 0.042×
Segment HHI 0.5 HHI
RPO growth —

4 of 7 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Resilience

Can the balance sheet absorb a bad year?

1.3
ND/EBITDA —
Current ratio 0.86×
Interest cover -0.57×
F-score 7.0 pts
Debt / Eq 1.0×
Net debt / Eq 0.94×
Quick ratio 0.77×
Cash / Debt 0.099×
Debt payback 14.1 yr
Cash runway —
Payout —

3 of 12 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Growth

Is the business getting bigger, and is it getting more profitable?

4.4
Sales CAGR 4Y +32.3%
Sales/sh Y/Y -9.0%
Div. growth +2.6%
EPS Y/Y -499.3%
Sales Q/Q -11.2%
EBIT CAGR —
EBIT Y/Y —
EPS CAGR 4Y —
EPS next Y —

4 of 13 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

A measure absent from a block could not be computed from this company's filings. It is left out rather than scored as though it were bad, and the dimension is averaged over what remains. A score is measured against a fixed scale this model states; the bar is measured against the other companies, so the two can disagree — and where they do, that disagreement is the more interesting figure.