WMG NASDAQ
Warner Music Group Corp.
1W: -3.3%
1M: +11.6%
3M: +3.8%
YTD: +0.2%
1Y: -7.1%
3Y: +1.0%
5Y: -30.8%
$30.31
+0.02 (+0.07%)
Weekly Expected Move ±4.4%
$28
$30
$31
$32
$34
Credit Risk of going bust: lower than 64% of companies Debt: 23.7% of company value Bonds: $97.4M held by 58 funds, 95 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 $0.64 (down 98%), Warner Music Group Corp. would be worth roughly what it owes.
Total debt $4.92B against a stock market value of $15.86B.
Distance to default 6.65 (Merton model): prices to 2026-10-27, balance sheet 2026-06-30, debt counted $2.35B (short-term plus half of long-term), stock volatility 35.0%; Altman Z'' -0.31. 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 $0.64 (down 98%), Warner Music Group Corp. would be worth roughly what it owes.
Total debt $4.92B against a stock market value of $15.86B.
Distance to default 6.65 (Merton model): prices to 2026-10-27, balance sheet 2026-06-30, debt counted $2.35B (short-term plus half of long-term), stock volatility 35.0%; Altman Z'' -0.31. 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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Cash Flow Trends
Operating Cash Flow
$678M
-10.1% ▼
5Y CAGR: +7.9%
Capital Expenditures
$139M
-19.8% ▼
5Y CAGR: +2.1%
Free Cash Flow
$539M
-15.5% ▼
5Y CAGR: +9.8%
Dividends Paid
$383M
-6.1% ▼
Buybacks
$16M
-220.0% ▼
Net Change in Cash
-$162M
-405.7% ▼
Cash Flow Composition
Year-over-Year Growth
View Full Cash Flow Statement
| Line Item | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| — Operating Activities — | |||||
| Net Income | $307M | $555M | $439M | $478M | $370M |
| Depreciation & Amort. | $306M | $339M | $332M | $327M | $376M |
| Stock-Based Comp. | $45M | $39M | $49M | $52M | $54M |
| Change in Working Capital | -$81M | -$87M | -$119M | -$148M | -$221M |
| Other Non-Cash Items | $34M | -$117M | -$1M | $93M | $189M |
| Operating Cash Flow | $638M | $742M | $687M | $754M | $678M |
| — Investing Activities — | |||||
| Capital Expenditures | -$574M | -$326M | -$241M | -$303M | -$334M |
| Acquisitions (Net) | $0 | $0 | $45M | $19M | $0 |
| Investment Purchases | -$64M | -$509M | -$126M | -$40M | -$46M |
| Investment Sales | $0 | $11M | $22M | $13M | $40M |
| Other Investing | $0 | $0 | $0 | $0 | $0 |
| Investing Cash Flow | -$638M | -$824M | -$300M | -$311M | -$340M |
| — Financing Activities — | |||||
| Net Debt Issuance | $244M | $535M | $164M | $0 | -$1M |
| Stock Repurchased | $0 | -$6M | $0 | $0 | -$16M |
| Dividends Paid | -$265M | -$318M | -$340M | -$361M | -$383M |
| Other Financing | -$40M | -$23M | -$149M | -$35M | -$97M |
| Financing Cash Flow | -$61M | $188M | -$325M | -$396M | -$497M |
| Net Change in Cash | -$54M | $85M | $57M | $53M | -$162M |
| Cash End of Period | $499M | $584M | $641M | $694M | $532M |
| Free Cash Flow | $64M | $416M | $446M | $638M | $539M |