Also trades as: DISCA (NASDAQ) · $vol 292M · DISCK (NASDAQ) · $vol 130M · DISCB (NASDAQ) · $vol 0M · 0IBD.L (LSE)
WBD NASDAQ
Warner Bros. Discovery, Inc.
1W: +0.2%
1M: +9.1%
3M: +18.5%
YTD: +8.6%
1Y: +60.9%
3Y: +189.5%
5Y: +18.4%
$30.95
Last traded 2026-10-05 — delisted
Credit Risk of going bust: lower than 72% of companies Debt: 29.2% of company value Bonds: $1.19B held by 608 funds, 337 bp over Treasuries → details ▾
Of US companies ranked in the safest four tenths, about 1 in 3,500 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $0.72 (down 98%), Warner Bros. Discovery, Inc. would be worth roughly what it owes.
Total debt $32.02B against a stock market value of $77.72B.
Distance to default 7.91 (Merton model): prices to 2026-10-05, balance sheet 2026-06-30, debt counted $16.76B (short-term plus half of long-term), stock volatility 26.5%; Altman Z'' -0.28. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
If the stock fell to about $0.72 (down 98%), Warner Bros. Discovery, Inc. would be worth roughly what it owes.
Total debt $32.02B against a stock market value of $77.72B.
Distance to default 7.91 (Merton model): prices to 2026-10-05, balance sheet 2026-06-30, debt counted $16.76B (short-term plus half of long-term), stock volatility 26.5%; Altman Z'' -0.28. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
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Revenue by Segment (5-Year Trend)
Income Trends
Revenue
$37.3B
-5.1% ▼
5Y CAGR: +28.4%
Gross Profit
$10.5B
-35.7% ▼
5Y CAGR: +9.1%
Operating Income
$1.3B
+113.0% ▲
5Y CAGR: -12.2%
Net Income
$727M
+106.4% ▲
5Y CAGR: -9.8%
EPS (Diluted)
$0.29
+106.3% ▲
5Y CAGR: -30.7%
EBITDA
$9.4B
-18.9% ▼
5Y CAGR: +7.1%
Profit Margins
Year-over-Year Growth
View Full Income Statement
| Line Item | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Revenue | $12.2B | $33.8B | $41.3B | $39.3B | $37.3B |
| YoY Growth | +14.2% | +177.4% | +22.2% | -4.8% | -5.1% |
| Cost of Revenue | $4.6B | $20.4B | $24.5B | $23.0B | $26.8B |
| Gross Profit | $7.6B | $13.4B | $16.8B | $16.4B | $10.5B |
| Gross Margin | 62.1% | 39.6% | 40.6% | 41.6% | 28.2% |
| R&D Expenses | $0 | $0 | $0 | $0 | $0 |
| SG&A Expenses | $4.0B | $9.7B | $9.7B | $9.3B | $9.4B |
| Operating Expenses | $5.6B | $20.7B | $18.3B | $26.4B | $9.2B |
| Operating Income | $2.0B | -$7.4B | -$1.5B | -$10.0B | $1.3B |
| Operating Margin | 16.5% | -21.8% | -3.7% | -25.5% | 3.5% |
| Interest Expense | $633M | $1.8B | $2.2B | $2.0B | $2.1B |
| Income Before Tax | $1.4B | -$9.0B | -$3.9B | -$11.4B | $1.6B |
| Tax Expense | $236M | -$1.7B | -$784M | $94M | $890M |
| Net Income | $1.0B | -$7.4B | -$3.1B | -$11.3B | $727M |
| Net Margin | 8.3% | -21.8% | -7.6% | -28.8% | 1.9% |
| EPS (Diluted) | $1.54 | $-3.82 | $-1.28 | $-4.62 | $0.29 |
| EBITDA | $7.1B | $14.2B | $22.4B | $11.6B | $9.4B |
| Shares Outstanding | 668M | 1.94B | 2.44B | 2.45B | 2.53B |