Warner Bros. DiscoveryWBDRevenue: is the business selling more than it used to?
$37.3B−5% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Revenue reached $37.3B in 2025, compounding +3% a year since 2022 though the pace has cooled. The trailing twelve months are already running at $36.1B, behind the last full year.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Warner Bros. DiscoveryWBDNet income: how much of that revenue becomes profit?
$727MFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Net income was $727M in 2025, against $-11.3B the year before. Earnings per share moved -512% over the last twelve months. Trailing twelve-month profit stands at $-3.2B.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Warner Bros. DiscoveryWBDHow fast is it growing, year by year?
-5.1%revenue growth, FY 2025
Off the axis: 2019 earnings +248.3% · 2022 earnings -832.7% - rebounds off a collapsed prior year.
→Revenue grew -5% in 2025 against a five-year average of +41%. 2019's +248% earnings rebound off a collapsed base and 2022's swing into loss (-833%) sits off the axis.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Warner Bros. DiscoveryWBDRevenue per share: is your slice growing as fast as the company?
$14.74revenue per share, FY 2025
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→Revenue per share reached $14.74 in 2025, compounding -5% a year against +3% for WBD as a whole. Dilution absorbed about 8.8 points of that growth. Free cash flow per share stands at $1.22.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Warner Bros. DiscoveryWBDFree cash flow: what is left in real cash after everything?
$3.1B−30% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Free cash flow was $3.1B in 2025, compounding -2% a year since 2022. The trailing twelve months stand at $2.2B.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Warner Bros. DiscoveryWBDHow much of every sales dollar ends up as free cash?
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→8 cents of every sales dollar became free cash in 2025, and it has held steady since 2022 - its weakest conversion on record.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Warner Bros. DiscoveryWBDWhat does staying competitive cost, per dollar of sales?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→The biggest claim on each sales dollar is capital spending, at 3% of revenue (stock compensation 2%).
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Warner Bros. DiscoveryWBDWhen sales grow, do profits grow faster?
→Operating profit outgrew revenue in only 2 of the last 5 years. Costs are growing roughly in step with the business, so scale isn't yet paying for itself.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Warner Bros. DiscoveryWBDMargins: of every $1 of sales, how much survives each cost layer?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→Operating margin widened 24 points to 2% since 2022. After everything, 2 cents of each sales dollar reaches net profit. WBD doesn't tag a gross-profit line in its filings, so the chart starts at operating margin.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Warner Bros. DiscoveryWBDWhat does it earn on the money it uses?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→ROE of -10% and ROCE of 1% sit close together, so the returns come from the business itself rather than from borrowing.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Warner Bros. DiscoveryWBDWhat has the market paid for WBD over time?
2.0xP/S today
→At 2.0x sales, the market is paying +94% more than WBD's own 6-year median of 1.0x. Expectations are elevated, so more has to go right to justify the price. Today's multiple is the lowest in the charted history.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Warner Bros. DiscoveryWBDWhat cash return does the business throw off per dollar of market value?
3.1%FCF yield today
◌ 2026 = at the latest close (2026-09-04), over the trailing twelve months; earlier years are annual averages
→Every dollar of market value currently buys 3.1% of annual free cash flow, less than its 6-year median of 14.6% - you are paying up for the same cash.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Warner Bros. DiscoveryWBDCould it handle its debt if things went wrong?
→Debt of $33.5B sits against $3.4B of cash, or 1.0x shareholders' equity. Earnings don't currently cover the interest bill at all.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Warner Bros. DiscoveryWBDIs the company's own capital growing?
→The company's own capital shrank from $45.2B in 2023 to $32.8B (-27%). Buybacks or losses are drawing the buffer down - the distinction matters.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Warner Bros. DiscoveryWBDHow much goes back, and how much leaks out as stock comp?
→WBD returned no cash to shareholders in the latest filed year: everything is being retained or reinvested.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Warner Bros. DiscoveryWBDHow fast is your ownership being diluted - or concentrated?
→The share count grew 3.3% in 2025, averaging 9.8% a year over three years. Your slice of the company shrinks by that much each year unless earnings grow faster.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Warner Bros. DiscoveryWBDDoes WBD earn more on its capital than that capital costs?
→WBD earns 0.8% on the capital it employs, below the 10% most investors treat as the cost of capital.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Warner Bros. DiscoveryWBDWBD has issued or retired shares - did shareholders end up better off?
→WBD's share count rose +350% from 2007 to 2025 while revenue per share grew +186%. Holders are further ahead than before, though the gain per share is smaller than the growth in the business.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Warner Bros. DiscoveryWBDAre the people running it buying or selling?
→Insiders sold $160M on the open market and bought nothing. Many sales are pre-scheduled diversification rather than a view on the price. A further 33 filings were grants, option exercises or tax withholding, which say nothing either way.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30