Warner Bros. Discovery, Inc.

WBD

Warner Bros. Discovery, Inc.

WBD

Insider Sentiment (TTM):

Last Purchase:2025-08-12Last Sale:2026-03-16Shares Purchased (TTM):75,000Shares Sold (TTM):9,473,364

Institutional Sentiment:

As of:2026-03-31Institutional Shares Owned:1,706,583,293Shares Outstanding:2,492,000,000Institutional Ownership Pct.:68.48%

Earnings Market Reaction:

Filing Date:2026-05-06Price on Filing Date:N/APrevious Close:N/A% Change:N/A

Companies in Cable & Other Pay Television Services

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Financial Statements

10‑Q10‑K

Values in Millions ($)	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30
Assets
Assets Current
Cash And Cash Equivalents At Carrying Value	3,264	4,566	4,294	4,888	3,868	5,312	3,336	3,613	2,976	3,780	2,383	3,027
Receivables Net Current	5,009	5,294	5,128	5,383	4,664	4,947	5,534	6,166	6,303	6,047	6,312	6,770
Prepaid Expense And Other Assets Current	3,468	3,346	3,640	3,340	4,250	3,819	3,635	3,651	4,623	4,391	4,136	3,976
Assets Current	11,741	13,206	13,062	13,611	12,782	14,078	12,505	13,430	13,902	14,218	12,831	13,773
Property Plant And Equipment And Finance Lease Rig…	6,642	6,685	6,517	6,413	6,211	6,087	6,158	6,043	5,937	5,957	5,810	5,473
Goodwill	25,874	25,933	25,920	25,939	25,746	25,667	25,869	25,740	34,891	34,969	34,727	34,911
Intangible Assets Net Excluding Goodwill	26,803	27,764	28,789	29,906	31,033	32,299	33,767	35,157	36,648	38,285	39,874	41,584
Other Assets Noncurrent	7,465	7,383	7,127	7,041	7,086	7,327	7,995	7,649	8,002	8,099	8,053	8,484
Assets	97,837	100,085	100,519	101,727	101,679	104,560	106,333	108,029	119,819	122,757	123,749	128,618
Liabilities And Stockhold…
Liabilities Current
Accounts Payable Current	1,110	1,093	1,083	1,074	1,008	1,055	1,120	1,151	1,245	1,260	1,329	1,689
Accrued Liabilities Current	11,920	9,626	9,292	10,218	9,899	10,438	10,002	10,926	10,288	10,368	10,040	10,668
Contract With Customer Liability Current	1,592	1,642	1,649	1,527	1,600	1,569	1,530	2,022	1,993	1,924	1,917	1,548
Long Term Debt And Capital Lease Obligations Curre…	1,493	139	139	221	2,779	2,748	3,043	3,669	3,430	1,780	1,302	3,001
Liabilities Current	16,115	12,500	12,163	13,040	15,286	15,810	15,695	17,768	16,956	15,332	14,588	16,906
Long Term Debt And Capital Lease Obligations	30,973	32,428	33,382	34,411	34,647	36,757	37,166	37,289	39,148	41,889	43,498	44,276
Deferred Income Tax Liabilities Net	5,873	6,383	6,708	6,494	6,714	6,985	7,339	7,806	8,303	8,736	9,098	9,718
Other Liabilities Noncurrent	11,169	11,608	10,961	10,436	9,861	10,070	9,959	9,751	10,118	10,328	10,423	10,933
Liabilities	64,130	62,919	63,214	64,381	66,508	69,622	70,159	72,614	74,525	76,285	77,607	81,833
Redeemable Noncontrolling Interest Equity Common C…	0	19	23	23	23	109	117	118	179	165	281	306
Stockholders Equity Inclu…
Common Stock Value	27	27	27	27	27	27	27	27	27	27	27	27
Preferred Stock Value	0	0	0	0	0	0	0	0	0	0	0	0
Additional Paid In Capital	55,865	56,055	55,926	55,749	55,585	55,560	55,463	55,332	55,175	55,112	54,944	54,816
Treasury Stock Common Value	-8,244	-8,244	-8,244	-8,244	-8,244	-8,244	-8,244	-8,244	-8,244	-8,244	-8,244	-8,244
Retained Earnings Accumulated Deficit	-14,428	-11,512	-11,260	-11,112	-12,692	-12,239	-11,745	-11,880	-1,894	-928	-526	-105
Accumulated Other Comprehensive Income Loss Net Of…	-642	-407	-431	-371	-840	-1,067	-401	-890	-913	-741	-1,427	-1,042
Stockholders Equity	33,707	35,919	37,282	36,049	35,148	34,037	36,057	35,297	44,151	45,226	45,861	45,452
Minority Interest	1,129	1,228	1,264	1,274	1,312	792	957	952	964	1,081	1,087	1,027
Liabilities And Stockholders Equity	97,837	100,085	100,519	101,727	101,679	104,560	106,333	108,029	119,819	122,757	123,749	128,618
Stockholders Equity
Common Stock Par Or Stated Value Per Share	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01
Common Stock Shares Authorized	10,800	10,800	10,800	10,800	10,800	10,800	10,800	10,800	10,800	10,800	10,800	10,800
Common Stock Shares Issued	2,737	2,710	2,708	2,705	2,703	2,684	2,683	2,681	2,679	2,669	2,668	2,667
Shares Outstanding	2,507	2,480	2,477	2,475	2,473	2,454	2,452	2,451	2,449	2,439	2,438	2,437
Preferred Stock Par Or Stated Value Per Share	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0
Preferred Stock Shares Authorized	1,200	1,200	1,200	1,200	1,200	1,200	1,200	1,200	1,200	1,200	1,200	1,200
Preferred Stock Shares Issued	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Shares Outstanding	0	0	0	0	0	0	0	0	0	0	0	0
Treasury Stock Common Shares	230	230	230	230	230	230	230	230	230	230	230	230

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Earnings Market Reaction

10‑Q10‑K

Fiscal Year	Q1 1 Month	Q1 2 Month	Q1 3 Month	Q2 1 Month	Q2 2 Month	Q2 3 Month	Q3 1 Month	Q3 2 Month	Q3 3 Month	Q4 1 Month	Q4 2 Month	Q4 3 Month
2026	-0.70%	-1.69%	-5.26%	-	-	-	-	-	-	-	-	-
2025	10.65%	25.42%	49.72%	-1.85%	64.50%	78.33%	7.05%	28.46%	27.48%	-2.66%	-2.48%	-4.22%
2024	2.49%	-7.46%	3.36%	1.69%	8.69%	-1.43%	11.85%	13.23%	9.39%	-2.36%	-26.27%	-16.73%
2023	-	-	-	-4.81%	-13.89%	-19.86%	20.53%	21.06%	12.98%	-0.81%	-3.14%	-5.34%
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Performance and Valuation Metrics

Metrics	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30
Liquidity Ratios
Current Ratio	0.73	1.06	1.07	1.04	0.84	0.89	0.80	0.76	0.82	0.93	0.88	0.81
Quick Ratio	0.51	0.79	0.77	0.79	0.56	0.65	0.57	0.55	0.55	0.64	0.60	0.58
Working Capital	-4.37B	706.00M	899.00M	571.00M	-2.50B	-1.73B	-3.19B	-4.34B	-3.05B	-1.11B	-1.76B	-3.13B
Leverage & Debt
Debt to Equity	1.90	1.69	1.70	1.79	1.89	2.00	1.95	2.06	1.69	1.65	1.69	1.80
Interest Coverage TTM	-0.77	0.35	0.28	0.12	-4.98	-4.97	-5.11	-5.01	-0.58	-0.70	-1.43	-2.46
Debt Ratio	0.66	0.63	0.63	0.63	0.65	0.67	0.66	0.67	0.62	0.62	0.63	0.64
Efficiency & Turnover
Asset Turnover TTM	0.37	0.36	0.37	0.37	0.35	0.35	0.34	0.34	0.32	0.32	0.32	0.31
Days Sales Outstanding TTM	47.44	50.11	51.39	54.83	52.20	51.03	54.62	59.12	59.08	54.89	56.35	60.21
Receivables Turnover TTM	7.69	7.28	7.10	6.66	6.99	7.15	6.68	6.17	6.18	6.65	6.48	6.06
Per Share Metrics
Diluted EPS TTM	-0.70	0.29	0.22	0.33	-4.39	-4.62	-4.57	-4.82	-1.24	-1.28	-1.97	-2.75
Free Cash Flow Per Share TTM	0.93	1.25	1.67	1.64	1.76	1.81	2.16	2.75	3.06	2.53	2.19	1.26
Dividend Per Share TTM	0.07	0.08	0.08	0.08	0.09	0.08	0.08	0.08	0.08	0.12	0.12	0.13
Margin Metrics
Gross Profit Margin TTM	45.18%	44.00%	44.04%	43.27%	42.51%	41.58%	41.03%	41.24%	41.11%	40.65%	39.15%	38.17%
Operating Profit Margin TTM	-4.55%	1.98%	1.46%	0.57%	-25.56%	-25.51%	-26.22%	-26.44%	-3.10%	-3.75%	-7.75%	-13.24%
Net Profit Margin TTM	-4.67%	1.95%	1.41%	2.13%	-28.16%	-28.77%	-28.50%	-29.60%	-7.47%	-7.57%	-11.44%	-16.02%
Growth Metrics
Net Revenue Growth (1Y)	-2.95%	-5.15%	-4.33%	-3.74%	-5.51%	-4.84%	-5.87%	-4.67%	-1.88%	22.19%	61.74%	116.78%
Net Income Growth (1Y)	-83.92%	-106.43%	-104.74%	-106.92%	256.13%	261.84%	134.57%	76.18%	-65.88%	-57.59%	-8.10%	142.38%
EPS Growth (1Y)	-84.12%	-106.36%	-104.69%	-106.85%	253.39%	259.77%	133.13%	75.17%	-66.04%	-66.23%	-8.48%	127.36%
Valuation Metrics
P/E TTM	-39.42	98.11	90.50	34.70	-2.45	-2.29	-1.79	-1.54	-7.03	-8.87	-5.51	-4.56
P/B TTM	2.03	1.92	1.30	0.79	0.75	0.74	0.56	0.52	0.48	0.60	0.58	0.67
P/S TTM	1.84	1.91	1.28	0.74	0.69	0.66	0.51	0.46	0.53	0.67	0.63	0.73
Market Cap	68.43B	71.33B	48.41B	28.39B	26.42B	25.90B	20.24B	18.24B	21.33B	27.72B	26.48B	30.56B
Enterprise Value	97.63B	99.33B	77.64B	58.13B	59.87B	59.99B	56.96B	55.58B	60.52B	67.07B	68.85B	74.76B
Calculated Values
Free Cash Flow TTM	2.31B	3.09B	4.13B	4.07B	4.34B	4.43B	5.31B	6.74B	7.48B	6.16B	5.33B	3.08B
Net Debt	29.20B	28.00B	29.22B	29.74B	33.45B	34.09B	36.72B	37.34B	39.19B	39.35B	42.37B	44.20B
Per-Share and Margin
EPS TTM
Adjusted EPS TTM
Cash Flow Per Share TTM
Pretax Margin TTM
Stock Comp to Revenue TTM
Turnover Ratios and Averages
Average Assets
Average Equity
Average Inventory
Average Receivables
Average Accounts Payables
Inventory Turnover TTM
Payables Turnover TTM
Days Inventory Outstanding TTM
Days Payables Outstanding TTM
Cash Conversion Cycle TTM
Working Capital to Revenue
Deferred Revenue to Revenue
Growth Rates
Total Assets Growth (1Y)
Total Assets Growth (3Y)
Total Assets Growth (5Y)
Dividends Paid Growth (1Y)
Dividends Paid Growth (3Y)
Dividends Paid Growth (5Y)
EPS Growth (3Y)
EPS Growth (5Y)
Net Income Growth (3Y)
Net Income Growth (5Y)
Net Profit Margin Growth (1Y)
Net Profit Margin Growth (3Y)
Net Profit Margin Growth (5Y)
Net Revenue Growth (3Y)
Net Revenue Growth (5Y)
Deferred Revenue Growth (1Y)
Retained Earnings Growth (1Y)
Credit, Liquidity, Returns, Payout
Cash Ratio
Net Working Capital
Debt to EBITDA TTM
Net Debt to EBITDA TTM
Net Debt to Equity
Altman A
Altman B
Altman C
Altman D
Altman E
Altman Z-Score
ROA TTM
ROE TTM
NOPAT TTM
ROIC TTM
Effective Tax Rate TTM
Payout Ratio TTM
Dilution Ratio
Retained Earnings to Equity
Treasury Stock to Equity
Treasury Stock Change (1Y)
Accrued to Current Liabilities
Valuation Ratios
P/CF TTM
Dividend Yield TTM
Free Cash Flow Yield TTM
EV EBITDA TTM
EV EBIT TTM
Stock Compensation TTM
Adjusted Net Income TTM
Billings TTM
Total Debt
Invested Capital

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Insider Transactions

2026-03-16Sale

Owner: Gould, Paul A

Title: -

Shares: 600,000

Price/Share: $27.35

Value: $16,410,000.00

Shares Owned: 244,357

Relationship: Director

Ownership: Direct

2026-03-16Sale

Owner: Merchant, Fazal F

Title: -

Shares: 35,000

Price/Share: $27.48

Value: $961,800.00

Shares Owned: 95,539

Relationship: Director

Ownership: Direct

2026-03-16Sale

Owner: Perrette, Jean-Briac

Title: Pres.&CEO, Global Streaming

Shares: 659,120

Price/Share: $27.42

Value: $18,073,070.40

Shares Owned: 1,173,723

Relationship: Officer

Ownership: Direct

2026-03-10Sale

Owner: Aiyar, Priya

Title: Chief Legal Officer

Shares: 98,651

Price/Share: $27.85

Value: $2,747,430.35

Shares Owned: 897,844

Relationship: Officer

Ownership: Direct

2026-03-09Sale

Owner: Campbell, Bruce

Title: Chief Rev & Strategy Officer

Shares: 41,784

Price/Share: $27.82

Value: $1,162,430.88

Shares Owned: 604,666

Relationship: Officer

Ownership: Direct

Filed Date	Owner	Relationship	Title	Ownership	Purchase/Sale	No. Shares	Price Per Share	Value	Shares Owned	Document Type
2026-03-16	Gould, Paul A	Director	-	Direct	Sale	600,000	27.35	$16,410,000.00	244,357	4
2026-03-16	Merchant, Fazal F	Director	-	Direct	Sale	35,000	27.48	$961,800.00	95,539	4
2026-03-16	Perrette, Jean-Briac	Officer	Pres.&CEO, Global Streaming	Direct	Sale	659,120	27.42	$18,073,070.40	1,173,723	4
2026-03-10	Aiyar, Priya	Officer	Chief Legal Officer	Direct	Sale	98,651	27.85	$2,747,430.35	897,844	4
2026-03-09	Campbell, Bruce	Officer	Chief Rev & Strategy Officer	Direct	Sale	41,784	27.82	$1,162,430.88	604,666	4
2026-03-04	Campbell, Bruce	Officer	Chief Rev & Strategy Officer	Direct	Sale	1,580,331	28.00	$44,249,268.00	690,028	4
2026-03-04	Zeiler, Gerhard	Officer	President, International	Direct	Sale	600,000	28.02	$16,812,000.00	672,649	4
2026-03-04	Wiedenfels, Gunnar	Officer	Chief Financial Officer	Direct	Sale	374,323	28.05	$10,499,760.15	663,380	4
2026-03-03	Girdwood, Amy	Officer	Chief People & Culture Officer	Direct	Sale	75,030	28.25	$2,119,597.50	1,027,283	4
2026-03-03	Aiyar, Priya	Officer	Chief Legal Officer	Direct	Sale	223,512	28.24	$6,311,978.88	919,252	4
2026-03-03	Fisher, Richard W	Director	-	Direct	Sale	16,345	28.31	$462,726.95	70,479	4
2026-03-03	Zaslav, David	Director,Officer	Chief Executive Officer & Pres	Direct	Sale	4,004,149	28.26	$113,157,250.74	7,200,627	4
2025-12-10	Locke, Lori C.	Officer	Chief Accounting Officer	Direct	Sale	4,122	28.92	$119,208.24	100,962	4
2025-12-10	Wiedenfels, Gunnar	Officer	Chief Financial Officer	Direct	Sale	242,994	29.50	$7,168,323.00	918,940	4
2025-12-05	Locke, Lori C.	Officer	Chief Accounting Officer	Direct	Sale	5,000	25.42	$127,100.00	115,084	4
2025-12-03	Locke, Lori C.	Officer	Chief Accounting Officer	Direct	Sale	5,000	24.18	$120,900.00	125,084	4
2025-11-28	Locke, Lori C.	Officer	Chief Accounting Officer	Direct	Sale	5,000	23.83	$119,150.00	140,084	4
2025-10-31	Wiedenfels, Gunnar	Officer	Chief Financial Officer	Direct	Sale	222,210	22.50	$4,999,725.00	918,940	4
2025-09-15	Wiedenfels, Gunnar	Officer	Chief Financial Officer	Direct	Sale	530,793	19.50	$10,350,463.50	1,141,150	4
2025-09-12	Campbell, Bruce	Officer	Chief Rev & Strategy Officer	Direct	Sale	150,000	18.00	$2,700,000.00	252,464	4
2025-08-12	Levy, Anton J	Director	-	Direct	Purchase	75,000	11.00	$825,000.00	949,000	4
2025-03-03	Di, Piazza Samuel A Jr.	Director	-	Direct	Purchase	17,346	11.41	$197,917.86	159,932	4
2024-12-16	Zaslav, David	Director,Officer	Chief Executive Officer & Pres	Direct	Sale	2,564,000	11.73	$30,075,720.00	3,453,591	4
2024-12-13	Sims, Savalle	Officer	Chief Legal Officer	Direct	Sale	169,436	12.35	$2,092,534.60	599,317	4
2024-11-11	Zeiler, Gerhard	Officer	President, International	Direct	Purchase	58,000	9.24	$535,920.00	966,130	4
2024-05-13	Zeiler, Gerhard	Officer	President, International	Direct	Purchase	100,000	8.30	$830,000.00	908,130	4
2023-12-14	Newhouse, Broadcasting Co…	Director	-	Direct	Sale	10,000,000	12.49	$124,900,000.00	184,023,290	4
2023-12-14	Newhouse, Steven O	Director	-	Indirect	Purchase	10,000,000	12.49	$124,900,000.00	14,158,459	4
2023-12-14	Newhouse, Broadcasting Co…	Director	-	Direct	Purchase	10,000,000	12.49	$124,900,000.00	14,158,459	4
2023-12-14	Newhouse, Steven O	Director	-	Indirect	Sale	10,000,000	12.49	$124,900,000.00	184,023,290	4
2023-08-07	Zeiler, Gerhard	Officer	President, International	Direct	Purchase	38,000	14.09	$535,420.00	329,032	4
2023-05-25	Wiedenfels, Gunnar	Officer	Chief Financial Officer	Direct	Purchase	15,000	11.22	$168,300.00	738,849	4
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Institutional Ownership

No data available for chart

2026-03-31

68.48%

Inst. Shares: 1,706,583,293

Shares Outstanding: 2,492,000,000

2025-12-31

68.76%

Inst. Shares: 1,701,686,497

Shares Outstanding: 2,475,000,000

2025-09-30

67.47%

Inst. Shares: 1,672,680,022

Shares Outstanding: 2,479,000,000

2025-06-30

67.10%

Inst. Shares: 1,661,995,560

Shares Outstanding: 2,477,000,000

2025-03-31

63.94%

Inst. Shares: 1,574,185,113

Shares Outstanding: 2,462,000,000

Date	Institutional Shares Owned	Shares Outstanding	Institutional Ownership %
2026-03-31	1,706,583,293	2,492,000,000	68.48%
2025-12-31	1,701,686,497	2,475,000,000	68.76%
2025-09-30	1,672,680,022	2,479,000,000	67.47%
2025-06-30	1,661,995,560	2,477,000,000	67.10%
2025-03-31	1,574,185,113	2,462,000,000	63.94%
2024-12-31	1,536,944,164	2,450,000,000	62.73%
2024-09-30	1,404,695,684	2,453,000,000	57.26%
2024-06-30	1,400,701,962	2,451,000,000	57.15%
2024-03-31	1,385,296,686	2,443,000,000	56.70%
2023-12-31	1,361,432,813	2,436,000,000	55.89%
2023-09-30	1,331,905,385	2,438,000,000	54.63%
2023-06-30	1,324,578,125	2,437,000,000	54.35%
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Warner Bros. Discovery, Inc. (WBD) — SEC Financial Statements & Analysis

Warner Bros. Discovery, Inc. (WBD) is a cable & other pay television services company, incorporated in DE. Warner Bros. Discovery, Inc. trades on WBD: Nasdaq as: WBD. Based on its latest SEC filing (Form 10-Q, period ending 2026-03-31), Warner Bros. Discovery, Inc. reported a -2.95% year-over-year revenue growth, a Gross Profit Margin of 45.18% (TTM), a Debt-to-Equity ratio of 1.90x, a Price-to-Sales (P/S) ratio of 1.84x (TTM), a Price-to-Book (P/B) ratio of 2.03 (TTM), at a market cap of $68.43B. Figures below are sourced from SEC EDGAR, as-filed.

Net Revenue TTM Growth 1Y: -2.95%
Gross Profit Margin TTM: 45.18%
Debt To Equity: 1.90x
P/S TTM: 1.84x
P/B TTM: 2.03
Market Cap: $68.43B

Data as of 2026-03-31 · Source: SEC EDGAR

Frequently Asked Questions

What industry is Warner Bros. Discovery, Inc. in?

Warner Bros. Discovery, Inc. (WBD) operates in the Cable & Other Pay Television Services industry.

What is WBD's market cap?

Warner Bros. Discovery, Inc. (WBD) has a market capitalization of $68.43B as of 2026-03-31.

What exchange does WBD trade on?

Warner Bros. Discovery, Inc. (WBD) trades on the WBD: Nasdaq.

Where is Warner Bros. Discovery, Inc. incorporated?

Warner Bros. Discovery, Inc. is incorporated in DE.

Warner Bros. Discovery, Inc. (WBD) — SEC Financial Statements & Analysis

Frequently Asked Questions

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