Warner Bros. Discovery, Inc. Dossier
Financial Snapshot
Revenue, profitability, returns, debt, and capital allocation
Revenue $36.1B-8.2% YoYTTM through 30 Jun 2026
Net Income -$3.2BTTM through 30 Jun 2026
Free Cash Flow $2.2BTTM through 30 Jun 2026
Margins
| Current | |
|---|---|
| Gross Margin | 44.0% |
| EBITDA Margin | 10.5% |
| Operating Margin | 2.0% |
| Net Margin | -8.8% |
Returns
2.0%ROE
0.7%ROA
Balance Sheet Health
Debt / Equity0.91x
Current Ratio1.06x
Net Debt$29B
Cash & Equivalents$3.4B
Quality Metrics
Altman Z-Score0.81
Piotroski F-Score5 / 9
FCF Margin6.0%
Rule of 406.3
Earnings-Beat Rate50.0%
Multi-Year Trend
RevenueFY2025: $37.3B
Diluted EPS-$1.27TTMFY2025: $0.29
Dividend
No dividend
Capital Allocation
Capex Intensity3.4%
Segment Performance
| Segment | Revenue | YoY | Outlook |
|---|---|---|---|
| Streaming | $10.9B | +5.0% | View detailsThe company expects to scale streaming globally, targeting over 150 million subscribers by the end of 2026. |
| Studios | View detailsThe segment is targeting at least $3 billion in Adjusted EBITDA. | ||
| Global Linear Networks | -12.0% | View detailsThe segment continues to face secular headwinds from cord-cutting and the loss of NBA rights. |
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