WBD

Updated: Mar 18, 2026 10:42 AM

Warner Bros Discovery Inc

Market Cap: $68.58B P/S: 7x Ownership — Insider: 4.5% | Institutional: 73.8% | Retail: 21.7% COMMUNICATION SERVICES ENTERTAINMENT

Warner Bros. The company is headquartered in New York, New York.

Revenue

Revenue, Profit & Income — explained by Jerry the Goat Farmer
Total RevenueEvery single dollar that wanders onto Jerry's farm. Cheese sales, milk money, goat yoga memberships, and that one weird guy who pays $50 to just watch the goats. Jerry doesn't ask questions.
Gross ProfitThe money left after feeding the goats but before reality sets in. Jerry feels rich for exactly 11 minutes.
Net IncomeWhat Jerry actually gets to keep after the Jerrynment, cousin Larry, the feed store, and his ex-wife's lawyer all take their cut. This number is often... humbling.
Using alias: revenuea -> totalRevenue [annual] [income]
Using alias: profita -> grossProfit [annual] [income]
Using alias: incomea -> netIncome [annual] [income]


Data Completeness:
------------------------------------------------------------
  ✅ totalRevenue                        20/20 dates (100%)
  ✅ grossProfit                         20/20 dates (100%)
  ✅ netIncome                           20/20 dates (100%)

Plot for WBD (in B)
  reports: annualReports
  showing last 25 entries
  Legend: totalRevenue, grossProfit, netIncome

               -41.32B                -20.66B                 0.00B                 20.66B                  41.32B
               |                      |                      |                      |                       |

  2006-12-31 |                                              |  0.69B
  2007-12-31 |                                              |  0.08B
  2008-12-31 |                                               |  3.44B
  2009-12-31 |                                               |  3.46B
  2010-12-31 |                                               |  3.71B
  2011-12-31 |                                               |  4.17B
  2012-12-31 |                                               |  4.49B
  2013-12-31 |                                               |  5.54B
  2014-12-31 |                                               |  6.26B
  2015-12-31 |                                               |  6.39B
  2016-12-31 |                                               |  6.50B
  2017-12-31 |                                              |  6.87B
  2018-12-31 |                                               |  10.55B
  2019-12-31 |                                               |  11.14B
  2020-12-31 |                                               |  10.67B
  2021-12-31 |                                               |  12.19B
  2022-12-31 |                                       |  33.82B
  2023-12-31 |                                            |  41.32B
  2024-12-31 |                                  |  39.32B
  2025-12-31 |                                               |  37.30B

               |                      |                      |                      |                       |
               -41.32B                -20.66B                 0.00B                 20.66B                  41.32B

Costs

Operating Costs — explained by Jerry the Goat Farmer
Cost of Goods & Services SoldThe unglamorous stuff: hay, feed, vet bills for when Sergio the goat eats another iPhone. These goats don't feed themselves, and they definitely don't apologize.
Selling, General & AdministrativeThe "CHEESE HAPPENS" billboard on the highway, the accountant (cousin Larry, who definitely cheated in Monopoly as a kid), office supplies, and the therapy Jerry needs after dealing with cousin Larry.
Research & DevelopmentJerry's experimental ghost pepper goat cheese that made three customers cry. Also the goat treadmill. The goats refuse to use the goat treadmill.
Using alias: rnda -> researchAndDevelopment [annual] [income]
Using alias: sgaa -> sellingGeneralAndAdministrative [annual] [income]
Using alias: cogsa -> costofGoodsAndServicesSold [annual] [income]


Data Completeness:
------------------------------------------------------------
  ⚠️  SPARSE researchAndDevelopment              0/20 dates (0%)
  ⚠️  sellingGeneralAndAdministrative     18/20 dates (90%)
  ✅ costofGoodsAndServicesSold          20/20 dates (100%)

Plot for WBD (in B)
  reports: annualReports
  showing last 25 entries
  Legend: researchAndDevelopment, sellingGeneralAndAdministrative, costofGoodsAndServicesSold

               0.00B                  6.70B                 13.39B                 20.09B                  26.79B
               |                      |                      |                      |                       |

  2006-12-31 |  0.45B ⊗⊗
  2007-12-31 |  0.06B ⊗⊗
  2008-12-31 |  1.02B ⊗
  2009-12-31 |  1.04B ⊗
  2010-12-31 |  1.01B ⊗
  2011-12-31 |  1.18B ⊗
  2012-12-31 |  1.22B ⊗
  2013-12-31 |  1.69B ⊗
  2014-12-31 |  2.12B ⊗
  2015-12-31 |  2.34B ⊗
  2016-12-31 |  2.43B ⊗
  2017-12-31 |  2.66B ⊗
  2018-12-31 |  3.94B ⊗
  2019-12-31 |  3.82B ⊗
  2020-12-31 |  3.86B ⊗
  2021-12-31 |  4.62B ⊗
  2022-12-31 |  20.44B ⊗
  2023-12-31 |  24.53B ⊗
  2024-12-31 |  22.97B ⊗
  2025-12-31 |  26.79B ⊗

               |                      |                      |                      |                       |
               0.00B                  6.70B                 13.39B                 20.09B                  26.79B

Cash

Cash, Debt & Cash Flow — explained by Jerry the Goat Farmer
Cash & Short-Term InvestmentsThe coffee can buried behind the barn, $47 in a savings account, and some cryptocurrency Jerry bought drunk in 2021. He's afraid to check on it.
Short/Long-Term DebtThe barn loan that'll follow Jerry to the grave (long-term) and the $200 he owes the feed store guy who's starting to give him looks (short-term).
Operating Cash FlowReal cash moving in and out. Not "my customer promised to pay me" money. Actual dollars. Jerry has trust issues now.
Using alias: casha -> cashAndShortTermInvestments [annual] [balance]
Using alias: debta -> shortLongTermDebtTotal [annual] [balance]
Using alias: paychecka -> operatingCashflow [annual] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ cashAndShortTermInvestments         20/20 dates (100%)
  ⚠️  shortLongTermDebtTotal              18/20 dates (90%)
  ✅ operatingCashflow                   20/20 dates (100%)

Plot for WBD (in B)
  reports: annualReports
  showing last 25 entries
  Legend: cashAndShortTermInvestments, shortLongTermDebtTotal, operatingCashflow

               0.00B                 12.25B                 24.50B                 36.75B                  49.00B
               |                      |                      |                      |                       |

  2006-12-31 |  0.15B ⊗
  2007-12-31 |  0.06B ⊗
  2008-12-31 |  3.80B
  2009-12-31 |  3.50B
  2010-12-31 |  3.62B
  2011-12-31 |  4.25B
  2012-12-31 |  5.24B
  2013-12-31 |  6.50B
  2014-12-31 |  7.11B
  2015-12-31 |  7.74B
  2016-12-31 |  7.92B
  2017-12-31 |  14.79B
  2018-12-31 |  16.79B
  2019-12-31 |  15.62B
  2020-12-31 |  15.59B
  2021-12-31 |  14.96B
  2022-12-31 |  49.00B
  2023-12-31 |  43.67B
  2024-12-31 |  39.51B
  2025-12-31 |  32.57B

               |                      |                      |                      |                       |
               0.00B                 12.25B                 24.50B                 36.75B                  49.00B

FCF

Free Cash Flow — explained by Jerry the Goat Farmer
Operating Cash FlowReal cash moving in and out. Not "my customer promised to pay me" money. Actual dollars. Jerry has trust issues now.
Capital ExpendituresBig, expensive purchases Jerry justifies at 2am: the industrial milking machine, new fencing, and a hot tub "for the goats" that somehow only Jerry uses.
Using alias: paychecka -> operatingCashflow [annual] [cashflow]
Using alias: capexa -> capitalExpenditures [annual] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ operatingCashflow                   20/20 dates (100%)
  ✅ capitalExpenditures                 20/20 dates (100%)

Plot for WBD (in B)
  reports: annualReports
  showing last 25 entries
  Legend: operatingCashflow, capitalExpenditures

               0.00B                  1.87B                  3.74B                  5.61B                   7.48B
               |                      |                      |                      |                       |

  2006-12-31 |  0.08B
  2007-12-31 |  0.06B
  2008-12-31 |  0.57B
  2009-12-31 |  0.64B
  2010-12-31 |  0.67B
  2011-12-31 |  1.10B
  2012-12-31 |  1.10B
  2013-12-31 |  1.28B
  2014-12-31 |  1.32B
  2015-12-31 |  1.29B
  2016-12-31 |  1.38B
  2017-12-31 |  1.63B
  2018-12-31 |  2.58B
  2019-12-31 |  3.40B
  2020-12-31 |  2.74B
  2021-12-31 |  2.80B
  2022-12-31 |  4.30B
  2023-12-31 |  7.48B
  2024-12-31 |  5.38B
  2025-12-31 |  4.32B

               |                      |                      |                      |                       |
               0.00B                  1.87B                  3.74B                  5.61B                   7.48B

Assets

Assets, Liabilities & Equity — explained by Jerry the Goat Farmer
🐐 Assets = Liabilities + Equity

Translation: What Jerry owns = What Jerry owes + What's actually Jerry's

Or as Jerry mutters every April during tax season:
"Everything I have equals everything I owe plus whatever scraps are left for me, a humble goat man just trying to make cheese in this cruel world."
Total AssetsEverything Jerry owns: 12 acres of land, a barn that's "rustic" (rotting), 47 goats, Sergio (appraised at $800, priceless to Jerry), the cheese cave, and a 2004 Ford F-150 held together by duct tape and prayer.
Total LiabilitiesEverything Jerry owes: bank loans, the feed store tab, back taxes, and a moral debt to his neighbor for "borrowing" that tractor in 2019. They both know he's not returning it.
Total Shareholder EquityIf Jerry sold absolutely everything, paid off every debt, and finally returned that tractor... this is what he'd have left. His actual net worth. Some days it's a retirement fund. Other days it's "enough for a bus ticket and a fresh start."
Using alias: assetsa -> totalAssets [annual] [balance]
Using alias: liabila -> totalLiabilities [annual] [balance]
Using alias: equitya -> totalShareholderEquity [annual] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ totalAssets                         20/20 dates (100%)
  ✅ totalLiabilities                    20/20 dates (100%)
  ✅ totalShareholderEquity              20/20 dates (100%)

Plot for WBD (in B)
  reports: annualReports
  showing last 25 entries
  Legend: totalAssets, totalLiabilities, totalShareholderEquity

               0.00B                 33.50B                 67.00B                 100.50B                 134.00B
               |                      |                      |                      |                       |

  2006-12-31 |  5.87B
  2007-12-31 |  5.87B
  2008-12-31 |  10.48B
  2009-12-31 |  10.95B
  2010-12-31 |  11.02B
  2011-12-31 |  11.91B
  2012-12-31 |  12.93B
  2013-12-31 |  14.98B
  2014-12-31 |  15.97B
  2015-12-31 |  15.86B
  2016-12-31 |  15.67B
  2017-12-31 |  22.55B
  2018-12-31 |  32.55B
  2019-12-31 |  33.73B
  2020-12-31 |  34.09B
  2021-12-31 |  34.43B
  2022-12-31 |  134.00B
  2023-12-31 |  122.76B
  2024-12-31 |  104.56B
  2025-12-31 |  100.08B

               |                      |                      |                      |                       |
               0.00B                 33.50B                 67.00B                 100.50B                 134.00B

Buffet

Using alias: incomea -> netIncome [annual] [income]
Using alias: debta -> shortLongTermDebtTotal [annual] [balance]
Using alias: equitya -> totalShareholderEquity [annual] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ netIncome                           20/20 dates (100%)
  ⚠️  shortLongTermDebtTotal              18/20 dates (90%)
  ✅ totalShareholderEquity              20/20 dates (100%)

Plot for WBD (in B)
  reports: annualReports
  showing last 25 entries
  Legend: netIncome, shortLongTermDebtTotal, totalShareholderEquity

               -49.00B                -24.50B                 0.00B                 24.50B                  49.00B
               |                      |                      |                      |                       |

  2006-12-31 |                                              |  4.55B ⊗
  2007-12-31 |                                              |  4.50B ⊗
  2008-12-31 |                                               |  5.54B
  2009-12-31 |                                               |  6.20B
  2010-12-31 |                                               |  6.22B
  2011-12-31 |                                               |  6.52B
  2012-12-31 |                                               |  6.29B
  2013-12-31 |                                               |  6.50B
  2014-12-31 |                                               |  7.11B
  2015-12-31 |                                               |  7.74B
  2016-12-31 |                                               |  7.92B
  2017-12-31 |                                              |  14.79B
  2018-12-31 |                                               |  16.79B
  2019-12-31 |                                               |  15.62B
  2020-12-31 |                                               |  15.59B
  2021-12-31 |                                               |  14.96B
  2022-12-31 |                                        |  49.00B
  2023-12-31 |                                            |  45.23B
  2024-12-31 |                                    |  39.51B
  2025-12-31 |                                               |  35.92B

               |                      |                      |                      |                       |
               -49.00B                -24.50B                 0.00B                 24.50B                  49.00B

Revenue-q

Using alias: revenue -> totalRevenue [quarterly] [income]
Using alias: profit -> grossProfit [quarterly] [income]
Using alias: income -> netIncome [quarterly] [income]


Data Completeness:
------------------------------------------------------------
  ✅ totalRevenue                        25/25 dates (100%)
  ✅ grossProfit                         25/25 dates (100%)
  ✅ netIncome                           25/25 dates (100%)

Plot for WBD (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: totalRevenue, grossProfit, netIncome

               -11.01B                -5.50B                  0.00B                  5.50B                  11.01B
               |                      |                      |                      |                       |

  2019-12-31 |                                               |  2.87B
  2020-03-31 |                                               |  2.68B
  2020-06-30 |                                               |  2.54B
  2020-09-30 |                                               |  2.56B
  2020-12-31 |                                               |  2.89B
  2021-03-31 |                                               |  2.79B
  2021-06-30 |                                               |  3.06B
  2021-09-30 |                                               |  3.15B
  2021-12-31 |                                               |  3.19B
  2022-03-31 |                                               |  3.16B
  2022-06-30 |                                 |  9.83B
  2022-09-30 |                                     |  9.82B
  2022-12-31 |                                      |  11.01B
  2023-03-31 |                                           |  10.70B
  2023-06-30 |                                          |  10.36B
  2023-09-30 |                                             |  9.98B
  2023-12-31 |                                             |  10.28B
  2024-03-31 |                                           |  9.96B
  2024-06-30 |     |  -9.99B
  2024-09-30 |                                               |  9.62B
  2024-12-31 |                                             |  10.03B
  2025-03-31 |                                             |  8.98B
  2025-06-30 |                                               |  9.81B
  2025-09-30 |                                              |  9.04B
  2025-12-31 |                                              |  9.46B

               |                      |                      |                      |                       |
               -11.01B                -5.50B                  0.00B                  5.50B                  11.01B

Costs-q

Using alias: rnd -> researchAndDevelopment [quarterly] [income]
Using alias: sga -> sellingGeneralAndAdministrative [quarterly] [income]
Using alias: cogs -> costofGoodsAndServicesSold [quarterly] [income]


Data Completeness:
------------------------------------------------------------
  ⚠️  SPARSE researchAndDevelopment              0/25 dates (0%)
  ✅ sellingGeneralAndAdministrative     25/25 dates (100%)
  ✅ costofGoodsAndServicesSold          25/25 dates (100%)

Plot for WBD (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: researchAndDevelopment, sellingGeneralAndAdministrative, costofGoodsAndServicesSold

               0.00B                  1.74B                  3.48B                  5.22B                   6.95B
               |                      |                      |                      |                       |

  2019-12-31 |  5.25B ⊗
  2020-03-31 |  0.92B ⊗
  2020-06-30 |  0.81B ⊗
  2020-09-30 |  1.00B ⊗
  2020-12-31 |  4.77B ⊗
  2021-03-31 |  1.05B ⊗
  2021-06-30 |  1.05B ⊗
  2021-09-30 |  1.53B ⊗
  2021-12-31 |  1.07B ⊗
  2022-03-31 |  1.24B ⊗
  2022-06-30 |  6.62B ⊗
  2022-09-30 |  5.63B ⊗
  2022-12-31 |  6.95B ⊗
  2023-03-31 |  6.68B ⊗
  2023-06-30 |  6.64B ⊗
  2023-09-30 |  5.31B ⊗
  2023-12-31 |  5.90B ⊗
  2024-03-31 |  6.06B ⊗
  2024-06-30 |  6.20B ⊗
  2024-09-30 |  5.18B ⊗
  2024-12-31 |  5.53B ⊗
  2025-03-31 |  5.13B ⊗
  2025-06-30 |  5.97B ⊗
  2025-09-30 |  4.56B ⊗
  2025-12-31 |  6.60B ⊗

               |                      |                      |                      |                       |
               0.00B                  1.74B                  3.48B                  5.22B                   6.95B

Cash-q

Using alias: cash -> cashAndShortTermInvestments [quarterly] [balance]
Using alias: debt -> shortLongTermDebtTotal [quarterly] [balance]
Using alias: paycheck -> operatingCashflow [quarterly] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ cashAndShortTermInvestments         25/25 dates (100%)
  ✅ shortLongTermDebtTotal              25/25 dates (100%)
  ✅ operatingCashflow                   25/25 dates (100%)

Plot for WBD (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: cashAndShortTermInvestments, shortLongTermDebtTotal, operatingCashflow

               -52.48B                -26.24B                 0.00B                 26.24B                  52.48B
               |                      |                      |                      |                       |

  2019-12-31 |                                               |  15.42B
  2020-03-31 |                                               |  15.87B
  2020-06-30 |                                               |  15.28B
  2020-09-30 |                                               |  15.32B
  2020-12-31 |                                               |  15.59B
  2021-03-31 |                                               |  15.03B
  2021-06-30 |                                               |  15.05B
  2021-09-30 |                                               |  14.79B
  2021-12-31 |                                               |  14.96B
  2022-03-31 |                                               |  14.40B
  2022-06-30 |                                               |  52.48B
  2022-09-30 |                                               |  49.87B
  2022-12-31 |                                               |  49.00B
  2023-03-31 |                                              |  48.93B
  2023-06-30 |                                               |  47.28B
  2023-09-30 |                                               |  44.80B
  2023-12-31 |                                               |  43.67B
  2024-03-31 |                                               |  42.58B
  2024-06-30 |                                               |  40.96B
  2024-09-30 |                                               |  40.21B
  2024-12-31 |                                               |  39.51B
  2025-03-31 |                                               |  37.43B
  2025-06-30 |                                               |  34.63B
  2025-09-30 |                                               |  33.75B
  2025-12-31 |                                               |  32.57B

               |                      |                      |                      |                       |
               -52.48B                -26.24B                 0.00B                 26.24B                  52.48B

FCF-q

Using alias: paycheck -> operatingCashflow [quarterly] [cashflow]
Using alias: capex -> capitalExpenditures [quarterly] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ operatingCashflow                   25/25 dates (100%)
  ✅ capitalExpenditures                 25/25 dates (100%)

Plot for WBD (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: operatingCashflow, capitalExpenditures

               -3.58B                 -1.79B                  0.00B                  1.79B                   3.58B
               |                      |                      |                      |                       |

  2019-12-31 |                                               |  1.23B
  2020-03-31 |                                               |  0.34B
  2020-06-30 |                                               |  0.99B
  2020-09-30 |                                               |  0.86B
  2020-12-31 |                                               |  0.55B
  2021-03-31 |                                               |  0.27B
  2021-06-30 |                                               |  0.83B
  2021-09-30 |                                               |  0.81B
  2021-12-31 |                                               |  0.88B
  2022-03-31 |                                               |  0.32B
  2022-06-30 |                                               |  1.01B
  2022-09-30 |                                               |  0.32B
  2022-12-31 |                                               |  2.85B
  2023-03-31 |                                       |  -0.63B
  2023-06-30 |                                               |  2.01B
  2023-09-30 |                                               |  2.52B
  2023-12-31 |                                               |  3.58B
  2024-03-31 |                                               |  0.58B
  2024-06-30 |                                               |  1.23B
  2024-09-30 |                                               |  0.85B
  2024-12-31 |                                               |  2.71B
  2025-03-31 |                                               |  0.55B
  2025-06-30 |                                               |  0.98B
  2025-09-30 |                                               |  0.98B
  2025-12-31 |                                               |  1.80B

               |                      |                      |                      |                       |
               -3.58B                 -1.79B                  0.00B                  1.79B                   3.58B

Assets-q

Using alias: assets -> totalAssets [quarterly] [balance]
Using alias: liabil -> totalLiabilities [quarterly] [balance]
Using alias: equity -> totalShareholderEquity [quarterly] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ totalAssets                         25/25 dates (100%)
  ✅ totalLiabilities                    25/25 dates (100%)
  ✅ totalShareholderEquity              25/25 dates (100%)

Plot for WBD (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: totalAssets, totalLiabilities, totalShareholderEquity

               0.00B                 35.56B                 71.12B                 106.68B                 142.24B
               |                      |                      |                      |                       |

  2019-12-31 |  33.73B
  2020-03-31 |  33.39B
  2020-06-30 |  33.09B
  2020-09-30 |  33.44B
  2020-12-31 |  34.09B
  2021-03-31 |  33.62B
  2021-06-30 |  34.57B
  2021-09-30 |  34.32B
  2021-12-31 |  34.43B
  2022-03-31 |  33.80B
  2022-06-30 |  142.24B
  2022-09-30 |  136.05B
  2022-12-31 |  134.00B
  2023-03-31 |  130.58B
  2023-06-30 |  128.62B
  2023-09-30 |  123.75B
  2023-12-31 |  122.76B
  2024-03-31 |  119.82B
  2024-06-30 |  108.03B
  2024-09-30 |  106.33B
  2024-12-31 |  104.56B
  2025-03-31 |  101.68B
  2025-06-30 |  101.73B
  2025-09-30 |  100.52B
  2025-12-31 |  100.08B

               |                      |                      |                      |                       |
               0.00B                 35.56B                 71.12B                 106.68B                 142.24B

Buffet-q

Using alias: income -> netIncome [quarterly] [income]
Using alias: debt -> shortLongTermDebtTotal [quarterly] [balance]
Using alias: equity -> totalShareholderEquity [quarterly] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ netIncome                           25/25 dates (100%)
  ✅ shortLongTermDebtTotal              25/25 dates (100%)
  ✅ totalShareholderEquity              25/25 dates (100%)

Plot for WBD (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: netIncome, shortLongTermDebtTotal, totalShareholderEquity

               -52.48B                -26.24B                 0.00B                 26.24B                  52.48B
               |                      |                      |                      |                       |

  2019-12-31 |                                               |  15.42B
  2020-03-31 |                                               |  15.87B
  2020-06-30 |                                               |  15.28B
  2020-09-30 |                                               |  15.32B
  2020-12-31 |                                               |  15.59B
  2021-03-31 |                                               |  15.03B
  2021-06-30 |                                               |  15.05B
  2021-09-30 |                                               |  14.79B
  2021-12-31 |                                               |  14.96B
  2022-03-31 |                                               |  14.40B
  2022-06-30 |                                            |  52.48B
  2022-09-30 |                                             |  49.87B
  2022-12-31 |                                             |  49.00B
  2023-03-31 |                                              |  48.93B
  2023-06-30 |                                              |  47.28B
  2023-09-30 |                                              |  44.80B
  2023-12-31 |                                              |  45.23B
  2024-03-31 |                                              |  44.15B
  2024-06-30 |                                      |  40.96B
  2024-09-30 |                                               |  40.21B
  2024-12-31 |                                              |  39.51B
  2025-03-31 |                                              |  37.43B
  2025-06-30 |                                               |  36.05B
  2025-09-30 |                                              |  36.02B
  2025-12-31 |                                              |  35.92B

               |                      |                      |                      |                       |
               -52.48B                -26.24B                 0.00B                 26.24B                  52.48B

Price History

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