Warner Bros. Discovery

Communication Services Broadcasting New York City, New York Last filing Feb 27, 2026 · FY2025

                    Revenue
                    FY2025
                
$37.3B
                    3y CAGR +3.3%
                    
                    P43
                    
                    -5.1%
                    
                    Net income
                    FY2025
                
$727.0M
                    Net margin +1.9%
                    
                    P14
                    
                    +106.4%
                    
                    Total assets
                    FY2025
                
$100.1B
                    ROA +0.7%
                    
                    P14
                    
                    -4.3%
                    
                    Operating cash flow
                    FY2025
                
$4.3B
                    FCF margin +8.3%
                    
                    P25
                    
                    -19.6%

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Year-over-year change per cell; first column has no prior.

Balance Sheet

Assets, liabilities, and equity

28 accounts · 3 years

Total assets $100.1B

Total liabilities $62.9B

Shareholders equity $35.9B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	-14.0%	+40.5%	—
Accounts Receivable	+7.0%	-18.2%	—
Prepaid Expenses	-12.4%	-13.0%	—
Total Current Assets	-6.2%	-1.0%	—
Property,Plant and Equipment	+9.8%	+2.2%	—
Goodwill	+1.0%	-26.6%	—
Intangible Assets	-14.0%	-15.6%	—
Other Noncurrent Assets	+0.3%	-9.9%	—
Total Assets	-4.3%	-14.8%	—
Liabilities
Accounts Payable	+3.6%	-16.3%	—
Accrued Liabilities	-7.8%	+0.7%	—
Deferred Revenue	+4.7%	-18.5%	—
Current Portion of Long Term Debt	-94.9%	+54.4%	—
Total Current Liabilities	-20.9%	+3.1%	—
Long Term Debt	-11.8%	-12.3%	—
Deferred Tax Liabilities	-8.6%	-20.0%	—
Other Noncurrent Liabilities	+15.3%	-2.5%	—
Total Liabilities	-9.6%	-8.7%	—
Equity
Preferred Stock	—	—	—
Common Stock	+0.0%	+0.0%	—
Additional Paid In Capital	+0.9%	+0.8%	—
Retained Earnings	+5.9%	-1218.9%	—
Treasury Stock	+0.0%	+0.0%	—
Accumulated Other Comprehensive Income	+61.9%	-44.0%	—
Total Stockholders Equity	+5.5%	-24.7%	—
Noncontrolling Interest	+55.1%	-26.7%	—
Temporary Equity and Other	-82.6%	-33.9%	—
Total Liabilitiesand Equity	-4.3%	-14.8%	—

Income Statement

Revenue, expense, and profitability

16 accounts · 3 years

Revenue $37.3B

Operating income $738.0M

Net income $727.0M

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	-5.1%	-4.8%	—
Expenses Cost of Revenue	-9.1%	-6.3%	—
Expenses Selling,General and Administrative	+1.3%	-4.1%	—
Expenses Depreciation and Amortization	-19.2%	-11.9%	—
Expenses Restructuring and Asset Impairment	-94.3%	+1418.1%	—
Other Income Expense Operating Income	+107.4%	-548.1%	—
Other Income Expense Interest Expense	+3.4%	-9.2%	—
Other Income Expense Other Income/expense	+351.7%	+803.2%	—
Other Income Expense Income Before Tax	+114.4%	-194.8%	—
Income Tax Income Tax Expense	+846.8%	+112.0%	—
net Income Other Items Below Tax	-112.9%	+463.8%	—
net Income net Income	+106.4%	-261.8%	—
net Income Comprehensive Income	+111.9%	-396.3%	—
Earnings Per Share Basic Eps	+106.3%	-260.9%	—
Earnings Per Share Diluted Eps	+106.3%	-260.9%	—
Earnings Per Share Weighted Average Shares Diluted	+3.3%	+0.6%	—

Cash Flow Statement

Operating, investing, and financing flows

19 accounts · 3 years

Operating cash flow $4.3B

Investing cash flow $-1.2B

Financing cash flow $-4.2B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	+106.5%	-272.9%	—
Operating Activities Depreciation and Amortization	-16.4%	-12.6%	—
Operating Activities Stock Based Compensation	+38.1%	+11.4%	—
Operating Activities Deferred Income Taxes	+59.0%	+26.1%	—
Operating Activities Changes In Operating Assets and Liabilities	+6.8%	-1.1%	—
Operating Activities Other Non Cash Items	-129.7%	+2314.5%	—
Operating Activities net Cash From Operating Activities	-19.6%	-28.1%	—
Investing Activities Capital Expenditures	-29.9%	+28.0%	—
Investing Activities Business Acquisitions	—	+100.0%	—
Investing Activities Purchases of Investments	+8.3%	+2.7%	—
Investing Activities Proceeds From Sale of Investments	-90.0%	—	—
Investing Activities Other Investing Activities	-41.3%	-23.7%	—
Investing Activities net Cash From Investing Activities	-237.8%	+72.3%	—
Financing Activities Proceeds From Debt	+42.4%	+136.0%	—
Financing Activities Repayment of Debt	-39.7%	-58.8%	—
Financing Activities Other Financing Activities	+276.8%	+45.8%	—
Financing Activities net Cash From Financing Activities	-13.1%	+35.8%	—
Cash Reconciliation Effect of Exchange Rate On Cash	+241.1%	-2350.0%	—
Cash Reconciliation net Change In Cash	-177.1%	+182.0%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+44.0%	+41.6%	+40.6%
Operating margin	+2.0%	-25.5%	-3.7%
Net margin	+1.9%	-28.8%	-7.6%
FCF margin	+8.3%	+11.3%	+14.9%
Growth
Revenue CAGR (3y)	+3.3%	+47.8%	+57.0%
Returns
ROE	+2.0%	-33.2%	-6.9%
ROA	+0.7%	-10.8%	-2.5%
ROIC	+0.5%	-14.7%	-1.8%
Liquidity
Current ratio	1.06x	0.89x	0.93x
Quick ratio	0.79x	0.65x	0.64x
Leverage
D/E	1.75x	2.05x	1.69x
Interest coverage	0.35x	-4.97x	-0.70x
Efficiency
Asset turnover	0.37x	0.38x	0.34x
Cash conversion cycle	—	—	—

Valuation

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FY2025 fundamentals · no price

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Warner Bros. Discovery

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