WBD Chart
About

Warner Bros. Discovery, Inc. operates as a media and entertainment company worldwide. It operates through three segments: Studios, Network, and DTC. The Studios segment produces and releases feature films for initial exhibition in theaters; produces and licenses television programs to its networks and third parties and direct-to-consumer services; distributes films and television programs to various third parties and internal television; and offers streaming services and distribution through the home entertainment market, themed experience licensing, and interactive gaming. The Network segment comprises domestic and international television networks. The DTC segment offers premium pay-tv and streaming services. In addition, the company offers portfolio of content, brands, and franchises across television, film, streaming, and gaming under the Warner Bros. Motion Picture Group, Warner Bros. Television Group, DC, HBO, HBO Max, Max, Discovery Channel, discovery+, CNN, HGTV, Food Network, TNT Sports, TBS, TLC, OWN, Warner Bros. Games, Adult Swim, Turner Classic Movies, Television Group, Hanna-Barbera, Harry Potter, DC, Looney Tunes, Scooby-Doo, Game of Thrones, Friends, and others brands. Further, it provides content through distribution platforms, including linear network, free-to-air, and broadcast television; authenticated GO applications, digital distribution arrangements, content licensing arrangements, and direct-to-consumer subscription products. Warner Bros. Discovery, Inc. was incorporated in 2008 and is headquartered in New York, New York.

Fundamentals
Scroll to Statements
Sector Communication Services Industry Entertainment Market Cap 71.77B
Enterprise Value 102.71B Income 489.00M Sales 37.86B
Book/sh 14.54 Cash/sh 1.75 Dividend Yield —
Payout 0.00% Employees 35000 IPO —
P/E 152.34 Forward P/E -260.98 PEG —
P/S 1.90 P/B 1.99 P/C —
EV/EBITDA 13.24 EV/Sales 2.71 Quick Ratio 0.63
Current Ratio 1.07 Debt/Eq 89.86 LT Debt/Eq —
EPS (ttm) 0.19 EPS next Y -0.11 EPS Growth —
Revenue Growth -6.00% Earnings 2026-02-26 ROA 1.05%
ROE 0.97% ROIC — Gross Margin 44.48%
Oper. Margin 8.73% Profit Margin 1.28% Shs Outstand 2.48B
Shs Float 2.35B Short Float 2.47% Short Ratio 2.33
Short Interest — 52W High 30.00 52W Low 7.52
Beta 1.62 Avg Volume 39.64M Volume 8.94M
Target Price $29.21 Recom Hold Prev Close $29.15
Price $28.95 Change -0.70%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$29.21
Mean price target
2. Current target
$29.15
Latest analyst target
3. DCF / Fair value
$125.12
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$29.15
Low
$22.00
High
$35.00
Mean
$29.21

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-01-28 main UBS Neutral → Neutral $30
2026-01-15 main Benchmark Buy → Buy $32
2026-01-14 main Guggenheim Neutral → Neutral $30
2025-12-09 down Seaport Global Buy → Neutral —
2025-12-08 main Benchmark Buy → Buy $30
2025-12-05 down Barrington Research Outperform → Market Perform —
2025-11-14 main Barrington Research Outperform → Outperform $25
2025-11-07 main Wells Fargo Equal-Weight → Equal-Weight $25
2025-10-30 up Rothschild & Co Neutral → Buy $28
2025-10-28 up Argus Research Hold → Buy $27
2025-10-28 main Barrington Research Outperform → Outperform $25
2025-10-22 main Benchmark Buy → Buy $25
2025-10-16 main Wells Fargo Equal-Weight → Equal-Weight $21
2025-10-08 main Guggenheim Buy → Buy $22
2025-10-06 main UBS Neutral → Neutral $20
2025-10-02 main Raymond James Outperform → Outperform $22
2025-09-30 main Goldman Sachs Neutral → Neutral $13
2025-09-30 main B of A Securities Buy → Buy $24
2025-09-26 down Keybanc Overweight → Sector Weight —
2025-09-25 main Morgan Stanley Equal-Weight → Equal-Weight $15
Insider Transactions
Date Shares Url Text Insider Position Transaction Start Date Ownership Value
0 1963465 — — ZASLAV DAVID M Chief Executive Officer — 2026-01-05 00:00:00 D nan
1 1036 — — NOTO ANTHONY J. Director — 2025-12-19 00:00:00 D nan
2 2701 — — DI PIAZZA SAMUEL A. JR. Director — 2025-12-19 00:00:00 D nan
3 1306 — — PRICE PAULA A Director — 2025-12-19 00:00:00 D nan
4 242994 — Conversion of Exercise of derivative security at price 25.70 - 29.08 per share. WIEDENFELS GUNNAR Chief Financial Officer — 2025-12-10 00:00:00 D 6557907.0
5 14122 — Sale at price 27.45 - 28.92 per share. LOCKE LORI C Officer — 2025-12-10 00:00:00 D 394558.0
6 242994 — Sale at price 29.50 per share. WIEDENFELS GUNNAR Chief Financial Officer — 2025-12-10 00:00:00 D 7168323.0
7 10000 — Sale at price 24.14 - 25.42 per share. LOCKE LORI C Officer — 2025-12-05 00:00:00 D 247800.0
8 15000 — Sale at price 23.74 - 24.25 per share. LOCKE LORI C Officer — 2025-12-03 00:00:00 D 360850.0
9 10000 — Sale at price 23.25 - 23.83 per share. LOCKE LORI C Officer — 2025-11-28 00:00:00 D 235400.0
Financials
Line Item2024-12-312023-12-312022-12-312021-12-31
TaxEffectOfUnusualItems-1.99B-175.80M-684.19M14.66M
TaxRateForCalcs0.210.200.190.16
NormalizedEBITDA21.10B23.25B17.77B7.06B
TotalUnusualItems-9.49B-879.00M-3.60B89.00M
TotalUnusualItemsExcludingGoodwill-9.49B-879.00M-3.60B89.00M
NetIncomeFromContinuingOperationNetMinorityInterest-11.31B-3.13B-7.37B1.01B
ReconciledDepreciation20.98B24.01B21.35B5.08B
ReconciledCostOfRevenue9.02B8.50B6.28B1.12B
EBITDA11.61B22.37B14.17B7.15B
EBIT-9.37B-1.64B-7.18B2.07B
NetInterestIncome-1.81B-2.04B-1.71B-615.00M
InterestExpense2.02B2.22B1.78B633.00M
InterestIncome210.00M179.00M67.00M18.00M
NormalizedIncome-3.81B-2.42B-4.45B931.66M
NetIncomeFromContinuingAndDiscontinuedOperation-11.31B-3.13B-7.37B1.01B
TotalExpenses39.30B42.21B37.31B10.22B
TotalOperatingIncomeAsReported-10.03B-1.55B-7.37B2.01B
DilutedAverageShares2.45B2.44B1.94B664.00M
BasicAverageShares2.45B2.44B1.94B503.00M
DilutedEPS-4.62-1.28-3.821.54
BasicEPS-4.62-1.28-3.821.55
DilutedNIAvailtoComStockholders-11.31B-3.13B-7.42B1.02B
AverageDilutionEarnings0.000.00110.00M
NetIncomeCommonStockholders-11.31B-3.13B-7.42B912.00M
OtherunderPreferredStockDividend3.00M0.000.00-16.00M
PreferredStockDividends49.00M110.00M
NetIncome-11.31B-3.13B-7.37B1.01B
MinorityInterests171.00M-47.00M-74.00M-191.00M
NetIncomeIncludingNoncontrollingInterests-11.48B-3.08B-7.30B1.20B
NetIncomeContinuousOperations-11.48B-3.08B-7.30B1.20B
TaxProvision94.00M-784.00M-1.66B236.00M
PretaxIncome-11.39B-3.86B-8.96B1.43B
OtherIncomeExpense-9.60B-935.00M-3.75B75.00M
OtherNonOperatingIncomeExpenses13.00M26.00M7.00M4.00M
SpecialIncomeCharges-9.15B-698.00M-3.68B33.00M
GainOnSaleOfBusiness194.00M0.00195.00M4.00M
OtherSpecialCharges-709.00M36.00M10.00M
ImpairmentOfCapitalAssets9.60B77.00M117.00M-71.00M
RestructuringAndMergernAcquisition447.00M585.00M3.76B32.00M
EarningsFromEquityInterest-121.00M-82.00M-160.00M-18.00M
GainOnSaleOfSecurity-344.00M-181.00M78.00M56.00M
NetNonOperatingInterestIncomeExpense-1.81B-2.04B-1.71B-615.00M
InterestExpenseNonOperating2.02B2.22B1.78B633.00M
InterestIncomeNonOperating210.00M179.00M67.00M18.00M
OperatingIncome18.00M-886.00M-3.50B1.97B
OperatingExpense16.33B17.68B16.87B5.60B
DepreciationAmortizationDepletionIncomeStatement7.04B7.99B7.19B1.58B
DepreciationAndAmortizationInIncomeStatement7.04B7.99B7.19B1.58B
SellingGeneralAndAdministration9.30B9.70B9.68B4.02B
GrossProfit16.35B16.80B13.38B7.57B
CostOfRevenue22.97B24.53B20.44B4.62B
TotalRevenue39.32B41.32B33.82B12.19B
OperatingRevenue38.09B40.14B33.03B12.13B
Line Item2024-12-312023-12-312022-12-312021-12-31
TreasurySharesNumber230.00M230.00M230.00M230.00M
PreferredSharesNumber13.00M13.00M13.00M13.00M
OrdinarySharesNumber2.45B2.44B2.43B505.80M
ShareIssued2.68B2.67B2.66B735.80M
NetDebt34.19B39.89B45.27B10.85B
TotalDebt39.51B43.67B49.00B14.76B
TangibleBookValue-43.03B-49.26B-58.98B-11.46B
InvestedCapital73.54B88.89B96.09B26.36B
WorkingCapital-1.73B-1.11B-1.02B3.81B
NetTangibleAssets-43.03B-49.26B-58.98B-11.46B
CommonStockEquity34.04B45.23B47.09B11.60B
TotalCapitalization70.79B87.11B95.73B26.02B
TotalEquityGrossMinorityInterest34.94B46.47B48.67B13.40B
MinorityInterest901.00M1.25B1.57B1.80B
StockholdersEquity34.04B45.23B47.09B11.60B
GainsLossesNotAffectingRetainedEarnings-1.07B-741.00M-1.52B-830.00M
OtherEquityAdjustments-1.07B-741.00M-1.52B-830.00M
TreasuryStock8.24B8.24B8.24B8.24B
RetainedEarnings-12.24B-928.00M2.21B9.58B
AdditionalPaidInCapital55.56B55.11B54.63B11.09B
CapitalStock27.00M27.00M27.00M7.00M
CommonStock27.00M27.00M27.00M7.00M
PreferredStock0.000.000.000.00
TotalLiabilitiesNetMinorityInterest69.62B76.28B85.33B21.03B
TotalNonCurrentLiabilitiesNetMinorityInterest53.81B60.95B70.32B17.57B
OtherNonCurrentLiabilities10.07B10.33B10.67B1.93B
NonCurrentDeferredLiabilities6.99B8.74B11.01B1.23B
NonCurrentDeferredTaxesLiabilities6.99B8.74B11.01B1.23B
LongTermDebtAndCapitalLeaseObligation36.76B41.89B48.63B14.42B
LongTermDebt36.76B41.89B48.63B14.42B
CurrentLiabilities15.81B15.33B15.02B3.46B
CurrentDeferredLiabilities1.57B1.92B1.69B478.00M
CurrentDeferredRevenue1.57B1.92B1.69B478.00M
CurrentDebtAndCapitalLeaseObligation2.75B1.78B365.00M339.00M
CurrentDebt2.75B1.78B365.00M339.00M
OtherCurrentBorrowings2.75B1.78B339.00M
PayablesAndAccruedExpenses11.49B11.63B12.96B2.64B
CurrentAccruedExpenses10.44B8.25B8.35B2.23B
Payables1.05B3.38B4.61B412.00M
OtherPayable2.12B3.15B772.00M
AccountsPayable1.05B1.26B1.45B412.00M
TotalAssets104.56B122.76B134.00B34.43B
TotalNonCurrentAssets90.48B108.54B120.00B27.16B
OtherNonCurrentAssets7.33B8.10B8.63B2.77B
InvestmentsAndAdvances543.00M
LongTermEquityInvestment543.00M
GoodwillAndOtherIntangibleAssets77.07B94.48B106.07B23.06B
OtherIntangibleAssets51.40B59.51B71.63B10.15B
Goodwill25.67B34.97B34.44B12.91B
NetPPE6.09B5.96B5.30B1.34B
AccumulatedDepreciation-4.04B-3.08B-2.06B-1.33B
GrossPPE10.12B9.04B7.36B2.67B
ConstructionInProgress601.00M344.00M568.00M141.00M
OtherProperties672.00M
MachineryFurnitureEquipment5.69B4.68B3.54B2.04B
Properties3.83B4.01B3.25B481.00M
CurrentAssets14.08B14.22B14.00B7.26B
OtherCurrentAssets2.06B2.28B2.11B913.00M
PrepaidAssets784.00M843.00M545.00M668.00M
Receivables5.93B7.31B7.61B2.45B
OtherReceivables979.00M1.26B1.23B
AccountsReceivable4.95B6.05B6.38B2.45B
AllowanceForDoubtfulAccountsReceivable-54.00M
GrossAccountsReceivable2.50B
CashCashEquivalentsAndShortTermInvestments5.31B3.78B3.73B3.90B
CashAndCashEquivalents5.31B3.78B3.73B3.90B
Line Item2024-12-312023-12-312022-12-312021-12-31
FreeCashFlow4.43B6.16B3.32B2.42B
RepurchaseOfCapitalStock0.000.00
RepaymentOfDebt-19.25B-12.07B-9.71B-574.00M
IssuanceOfDebt15.82B6.70B2.39B0.00
CapitalExpenditure-948.00M-1.32B-987.00M-373.00M
EndCashPosition5.42B4.32B3.93B3.90B
BeginningCashPosition4.32B3.93B3.90B2.12B
EffectOfExchangeRateChanges-180.00M8.00M-61.00M-106.00M
ChangesInCash1.28B381.00M86.00M1.89B
FinancingCashFlow-3.75B-5.84B-7.74B-853.00M
CashFlowFromContinuingFinancingActivities-3.75B-5.84B-7.74B-853.00M
NetOtherFinancingCharges-323.00M-466.00M-425.00M-279.00M
NetCommonStockIssuance0.000.00
CommonStockPayments0.000.00
NetIssuancePaymentsOfDebt-3.43B-5.37B-7.32B-574.00M
NetShortTermDebtIssuance0.00-7.00M-2.00M0.00
ShortTermDebtPayments-14.20B-5.21B-2.40B0.00
ShortTermDebtIssuance14.20B5.21B2.39B0.00
NetLongTermDebtIssuance-3.43B-5.36B-7.32B-574.00M
LongTermDebtPayments-5.04B-6.86B-7.32B-574.00M
LongTermDebtIssuance1.62B1.50B0.000.00
InvestingCashFlow-349.00M-1.26B3.52B-56.00M
CashFlowFromContinuingInvestingActivities-349.00M-1.26B3.52B-56.00M
NetOtherInvestingChanges31.00M98.00M9.00M93.00M
NetInvestmentPurchaseAndSale677.00M121.00M1.06B410.00M
SaleOfInvestment677.00M121.00M1.06B599.00M
PurchaseOfInvestment0.000.00-189.00M
NetBusinessPurchaseAndSale-109.00M-162.00M3.44B-186.00M
SaleOfBusiness3.61B
PurchaseOfBusiness-109.00M-162.00M-168.00M-186.00M
NetPPEPurchaseAndSale-948.00M-1.32B-987.00M-373.00M
PurchaseOfPPE-948.00M-1.32B-987.00M-373.00M
OperatingCashFlow5.38B7.48B4.30B2.80B
CashFlowFromContinuingOperatingActivities5.38B7.48B4.30B2.80B
ChangeInWorkingCapital-12.13B-11.99B-10.98B-3.24B
ChangeInOtherWorkingCapital-260.00M824.00M-130.00M-88.00M
ChangeInPayablesAndAccruedExpense-12.88B-13.12B-11.03B-3.20B
ChangeInPayable-12.88B-13.12B-11.03B-3.20B
ChangeInAccountPayable-529.00M-820.00M1.53B185.00M
ChangeInReceivables1.01B312.00M181.00M47.00M
OtherNonCashItems280.00M314.00M4.03B66.00M
StockBasedCompensation557.00M500.00M412.00M178.00M
AssetImpairmentCharge9.60B77.00M116.00M-71.00M
DeferredTax-1.73B-2.34B-2.84B-511.00M
DeferredIncomeTax-1.73B-2.34B-2.84B-511.00M
DepreciationAmortizationDepletion20.98B24.01B21.35B5.08B
DepreciationAndAmortization20.98B24.01B21.35B5.08B
AmortizationCashFlow13.95B16.02B14.16B3.50B
AmortizationOfIntangibles13.95B16.02B14.16B3.50B
Depreciation7.04B7.99B7.19B1.58B
OperatingGainsLosses-708.00M-11.00M-489.00M93.00M
EarningsLossesFromEquityInvestments167.00M157.00M211.00M63.00M
GainLossOnInvestmentSecurities-243.00M-151.00M-700.00M30.00M
GainLossOnSaleOfPPE116.00M-71.00M
NetIncomeFromContinuingOperations-11.48B-3.08B-7.30B1.20B
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

Public Trades for WBD
Date User Asset Broker Type Position Size Entry Price Patterns