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Warner Bros. Discovery, Inc. WBD Brand licensing — Remaining performance obligations

Other product segments

Content licensing and sports sublicensing
$4.71B+0.8%
Distribution
$2.66B+29.7%
Advertising
$873M+34.7%

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Other financials

Income statement

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Revenue$8.7B-11.2%
Gross profit$4.1B+6.5%
Operating income$237.0M+228%
Net income$149.0M-90.6%
EPS (diluted)$0.06-90.5%

Balance sheet

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Cash & equivalents$3.4B-31.1%
Total debt$32.0B+14,390%
Total equity$32.8B-8.9%
Total assets$97.2B-4.4%

Cash flow

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Operating cash flow$848.0M-13.7%
CapEx$276.0M-1.8%
Free cash flow$572.0M-18.5%

Valuation

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Market cap$67.14B+152%
Enterprise value$95.8B+335%
P/S1.9×+1.2×

Profitability

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Gross margin47.2%+4.0pp
Operating margin-3.5%-3.7pp
Net margin1.3%+0.7pp
FCF margin6%-4.5pp

Returns & leverage

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Return on equity1.4%+0.7pp
Debt / equity+1.0×
Current ratio0.8×-0.3×

Where this comes from

Reported directly by Warner Bros. Discovery, Inc. in its filing.

Tagged under the XBRL concept us-gaap:RevenueRemainingPerformanceObligation.

The source filing: Warner Bros. Discovery, Inc.’s 10-Q, filed August 6, 2026.

Filed
Aug 6, 2026, 9:42 AM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001437107-26-000075
Contract TypeJune 30, 2026Duration
Distribution - fixed price or minimum guarantee$2,657Through 2030
Content licensing and sports sublicensing4,714Through 2032
Brand licensing4,688Through 2062
Advertising873Through 2032
Other126Through 2029
Total$13,058

ITEM 1. Unaudited Financial Statements.

FAQ

What is Warner Bros. Discovery, Inc.'s brand licensing — remaining performance obligations?
Warner Bros. Discovery, Inc. (WBD) reported brand licensing — remaining performance obligations of $4.69B in Q2 2026.
How has Warner Bros. Discovery, Inc.'s brand licensing — remaining performance obligations changed year-over-year?
Warner Bros. Discovery, Inc.'s brand licensing — remaining performance obligations increased by 55.6% year-over-year, from $3.01B to $4.69B.
What does brand licensing — remaining performance obligations mean?
This metric quantifies the total transaction price allocated to performance obligations that are unsatisfied or partially unsatisfied as of the reporting date for brand licensing arrangements. It represents the backlog of revenue that the company has contracted to earn from licensing its intellectual property, characters, or content brands. This is a key indicator of future revenue visibility and the strength of the company's licensing pipeline.

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