InsiderClue
Stocks · Communication · Cable & Other Pay Television Services

Warner Bros. Discovery

WBD Clue Score35
United States Fiscal year ends December CIK 0001437107
$30.95 +0.00% Close, 7 Oct 2026
Alert on the numbers Alert on insider trades
Price $30.95 +16.97% Close, 7 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue6.50Operating income2.06Net income1.19Fiscal year 2017Revenue6.87 +5.8%Operating income0.71Net income−0.34 −128.2%Fiscal year 2018Revenue10.55 +53.5%Operating income1.93Net income0.59Fiscal year 2019Revenue11.14 +5.6%Operating income3.01Net income2.07 +248.3%Fiscal year 2020Revenue10.67 −4.2%Operating income2.52Net income1.22 −41.1%EPS, diluted1.81Fiscal year 2021Revenue12.19 +14.2%Operating income2.01Net income1.01 −17.5%EPS, diluted1.54Fiscal year 2022Revenue33.82 +177.4%Operating income−7.37Net income−7.37 −832.7%EPS, diluted−3.82Fiscal year 2023Revenue41.32 +22.2%Operating income−1.55Net income−3.13EPS, diluted−1.28Fiscal year 2024Revenue39.32 −4.8%Operating income−10.03Net income−11.31EPS, diluted−4.62Fiscal year 2025Revenue37.30 −5.1%Operating income0.74Net income0.73EPS, diluted0.29
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 6.50 6.87 10.55 11.14 10.67 12.19 33.82 41.32 39.32 37.30
Growth +5.8% +53.5% +5.6% −4.2% +14.2% +177.4% +22.2% −4.8% −5.1%
Operating income 2.06 0.71 1.93 3.01 2.52 2.01 −7.37 −1.55 −10.03 0.74
Net income 1.19 −0.34 0.59 2.07 1.22 1.01 −7.37 −3.13 −11.31 0.73
Growth −128.2% +248.3% −41.1% −17.5% −832.7%
EPS, diluted n/a n/a n/a n/a 1.81 1.54 −3.82 −1.28 −4.62 0.29

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin31.7%Net margin18.4%Free cash flow margin19.9%Fiscal year 2017Operating margin10.4%Net margin−4.9%Free cash flow margin21.7%Fiscal year 2018Operating margin18.3%Net margin5.6%Free cash flow margin23.0%Fiscal year 2019Operating margin27.0%Net margin18.6%Free cash flow margin27.9%Fiscal year 2020Operating margin23.6%Net margin11.4%Free cash flow margin21.9%Fiscal year 2021Operating margin16.5%Net margin8.3%Free cash flow margin19.9%Fiscal year 2022Operating margin−21.8%Net margin−21.8%Free cash flow margin9.8%Fiscal year 2023Operating margin−3.7%Net margin−7.6%Free cash flow margin14.9%Fiscal year 2024Operating margin−25.5%Net margin−28.8%Free cash flow margin11.3%Fiscal year 2025Operating margin2.0%Net margin1.9%Free cash flow margin8.3%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 31.7% 10.4% 18.3% 27.0% 23.6% 16.5% −21.8% −3.7% −25.5% 2.0%
Net margin 18.4% −4.9% 5.6% 18.6% 11.4% 8.3% −21.8% −7.6% −28.8% 1.9%
Free cash flow margin 19.9% 21.7% 23.0% 27.9% 21.9% 19.9% 9.8% 14.9% 11.3% 8.3%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow1.38Capital expenditure−0.09Free cash flow1.29Buybacks−1.37Fiscal year 2017Operating cash flow1.63Capital expenditure−0.14Free cash flow1.49 +15.6%Buybacks−0.60Fiscal year 2018Operating cash flow2.58Capital expenditure−0.15Free cash flow2.43 +62.6%Buybacks0.00Fiscal year 2019Operating cash flow3.40Capital expenditure−0.29Free cash flow3.11 +28.0%Fiscal year 2020Operating cash flow2.74Capital expenditure−0.40Free cash flow2.34 −24.9%Fiscal year 2021Operating cash flow2.80Capital expenditure−0.37Free cash flow2.43 +3.8%Fiscal year 2022Operating cash flow4.30Capital expenditure−0.99Free cash flow3.32 +36.8%Fiscal year 2023Operating cash flow7.48Capital expenditure−1.32Free cash flow6.16 +85.7%Fiscal year 2024Operating cash flow5.38Capital expenditure−0.95Free cash flow4.43 −28.1%Fiscal year 2025Operating cash flow4.32Capital expenditure−1.23Free cash flow3.09 −30.2%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 1.38 1.63 2.58 3.40 2.74 2.80 4.30 7.48 5.38 4.32
Capital expenditure −0.09 −0.14 −0.15 −0.29 −0.40 −0.37 −0.99 −1.32 −0.95 −1.23
Free cash flow 1.29 1.49 2.43 3.11 2.34 2.43 3.32 6.16 4.43 3.09
Growth +15.6% +62.6% +28.0% −24.9% +3.8% +36.8% +85.7% −28.1% −30.2%
Buybacks −1.37 −0.60 0.00 n/a n/a n/a n/a n/a n/a n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash0.30Total debt7.92Net cash (debt)−7.62Shareholders’ equity5.17Debt to equity1.53Fiscal year 2017Cash7.31Total debt14.79Net cash (debt)−7.48Shareholders’ equity4.61Debt to equity3.21Fiscal year 2018Cash0.99Total debt16.79Net cash (debt)−15.81Shareholders’ equity8.39Debt to equity2.00Fiscal year 2019Cash1.55Total debt15.42Net cash (debt)−13.87Shareholders’ equity9.89Debt to equity1.56Fiscal year 2020Cash2.09Total debt15.40Net cash (debt)−13.31Shareholders’ equity10.46Debt to equity1.47Fiscal year 2021Cash3.91Total debt14.76Net cash (debt)−10.85Shareholders’ equity11.60Debt to equity1.27Fiscal year 2022Cash3.73Total debt49.36Net cash (debt)−45.63Shareholders’ equity47.10Debt to equity1.05Fiscal year 2023Cash3.78Total debt45.45Net cash (debt)−41.67Shareholders’ equity45.23Debt to equity1.00Fiscal year 2024Cash5.31Total debt42.25Net cash (debt)−36.94Shareholders’ equity34.04Debt to equity1.24Fiscal year 2025Cash4.57Total debt32.71Net cash (debt)−28.14Shareholders’ equity35.92Debt to equity0.91
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.30 7.31 0.99 1.55 2.09 3.91 3.73 3.78 5.31 4.57
Total debt 7.92 14.79 16.79 15.42 15.40 14.76 49.36 45.45 42.25 32.71
Net cash (debt) −7.62 −7.48 −15.81 −13.87 −13.31 −10.85 −45.63 −41.67 −36.94 −28.14
Shareholders’ equity 5.17 4.61 8.39 9.89 10.46 11.60 47.10 45.23 34.04 35.92
Debt to equity 1.53 3.21 2.00 1.56 1.47 1.27 1.05 1.00 1.24 0.91

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
31.7% 10.4% 18.3% 27.0% 23.6% 16.5% −21.8% −3.7% −25.5% 2.0%
25.7% −2.0% 9.7% 20.6% 16.2% 11.8% −26.5% −9.3% −29.0% 4.4%
18.4% −4.9% 5.6% 18.6% 11.4% 8.3% −21.8% −7.6% −28.8% 1.9%
19.9% 21.7% 23.0% 27.9% 21.9% 19.9% 9.8% 14.9% 11.3% 8.3%
Spending
26.0% 25.7% 24.8% 25.0% 25.5% 32.9% 28.6% 23.5% 23.6% 25.3%
1.4% 2.0% 1.4% 2.6% 3.8% 3.1% 2.9% 3.2% 2.4% 3.3%
27.1% n/a 33.4% 3.5% 21.6% 16.5% n/a n/a n/a 54.3%
Returns
23.1% −7.3% 7.1% 20.9% 11.6% 8.7% −15.7% −6.9% −33.2% 2.0%
7.6% −1.5% 1.8% 6.1% 3.6% 2.9% −5.5% −2.5% −10.8% 0.7%
Balance and payout
1.53 3.21 2.00 1.56 1.47 1.27 1.05 1.00 1.24 0.91
65.5% 77.7% 67.7% 64.5% 63.7% 61.1% 63.7% 62.1% 66.6% 62.9%
106.3% 40.4% 0.0% n/a n/a n/a n/a n/a n/a n/a