What are Warner Bros. Discovery, Inc.'s profit margins?

Warner Bros. Discovery, Inc. (WBD) runs a 45.2% gross margin and a -4.6% operating margin, with a 1.3% net margin.

Where do Warner Bros. Discovery, Inc.'s ratios come from?

Every ratio is computed from Warner Bros. Discovery, Inc.'s SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Warner Bros. Discovery, Inc. WBD Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25	TTM Q2 '25	TTM Q1 '25
Profitability
Gross margin	176.5%+2.7pp	173.8%+2.4pp	171.4%+3.0pp	168.4%+2.0pp	166.4%+1.4pp
Operating margin	-1.4%+21.4pp	-22.8%+27.9pp	-50.7%+27.2pp	-78%+26.6pp	-104.6%-22.9pp
EBITDA margin	60.8%+18.4pp	42.4%+25.2pp	17.2%+24.4pp	-7.2%+24.1pp	-31.3%-24.7pp
Free cash flow margin	36%-5.1pp	41.1%-3.0pp	44.1%-2.5pp	46.6%-6.3pp	52.9%-7.1pp
Returns
Return on invested capital	-2.6%+20.4pp	-23%+27.0pp	-50%+27.0pp	-77%+26.5pp	-103.6%-23.0pp
Efficiency
Asset turnover	1.5×0.0×	1.4×0.0×	1.4×0.0×	1.4×0.0×	1.4×0.0×
Liquidity
Current ratio	3.9×-0.1×	4×+0.2×	3.8×+0.3×	3.6×+0.3×	3.3×0.0×
Quick ratio	3.9×-0.1×	4×+0.2×	3.8×+0.3×	3.6×+0.3×	3.3×0.0×
Cash ratio	1.3×-0.1×	1.3×0.0×	1.3×+0.1×	1.2×+0.2×	1×+0.1×
Leverage
Debt-to-equity	0.2×0.0×	0.2×-0.1×	0.3×-0.1×	0.4×-0.1×	0.5×0.0×
Debt-to-assets	0.1×0.0×	0.1×0.0×	0.1×0.0×	0.1×0.0×	0.1×0.0×
Net debt / EBITDA	-1.9×—	——	——	——	——
Interest coverage	-0.2×+4.3×	-4.5×+5.4×	-9.9×+5.3×	-15.2×+5.0×	-20.2×-4.5×
Per Share
Book value per share	$56.22-1.2%	$56.90+0.5%	$56.59+0.6%	$56.27+0.7%	$55.86-7.2%
Valuation
Market capitalization	$215.58B+24.6%	$173.09B+35.7%	$127.59B+28.3%	$99.45B+9.6%	$90.71B—
Enterprise value	$204.76B+25.7%	$162.94B+37.4%	$118.61B+25.7%	$94.34B+4.4%	$90.33B—
Price / sales	5.7×+1.2×	4.6×+1.3×	3.3×+0.8×	2.6×+0.2×	2.3×—
Price / book	6.2×+1.3×	4.9×+1.2×	3.6×+0.8×	2.9×+0.2×	2.6×—
EV / EBITDA	39.7×—	——	——	——	——
EV / sales	5.5×+1.1×	4.3×+1.2×	3.1×+0.7×	2.4×+0.1×	2.3×—
Free cash flow yield	31.3%-13.1pp	44.4%-12.7pp	57.2%-17.7pp	74.9%-21.9pp	96.7%—

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Questions, answered.

What are Warner Bros. Discovery, Inc.'s profit margins?: Warner Bros. Discovery, Inc. (WBD) runs a 45.2% gross margin and a -4.6% operating margin, with a 1.3% net margin.
Where do Warner Bros. Discovery, Inc.'s ratios come from?: Every ratio is computed from Warner Bros. Discovery, Inc.'s SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.