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Warner Bros. Discovery, Inc. WBD Streaming — Goodwill

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Global Linear Networks
$8.51B

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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:Goodwill.

The source filing: Warner Bros. Discovery, Inc.’s 10-K, filed February 27, 2026.

Filed
Feb 27, 2026, 5:20 PM EST
Fiscal year
FY2025
Accession
0001437107-26-000020
Line itemStreamingStudiosGlobal Linear NetworksTotal
December 31, 2023$8,067$9,272$17,630$34,969
Impairment of goodwill(9,147)(9,147)
Foreign currency translation and other adjustments(16)(75)(64)(155)
December 31, 2024$8,051$9,197$8,419$25,667
Dispositions(16)(16)
Foreign currency translation and other adjustments20155107282
December 31, 2025$8,071$9,352$8,510$25,933

Item 8. Financial Statements and Supplementary Data.

FAQ

What is Warner Bros. Discovery, Inc.'s streaming — goodwill?
Warner Bros. Discovery, Inc. (WBD) reported streaming — goodwill of $8.07B in Q4 2025.
What does streaming — goodwill mean?
This represents the carrying value of goodwill associated with the streaming business segment, arising from past acquisitions. It reflects the premium paid over the fair value of net identifiable assets in the streaming division. Monitoring this balance is essential for assessing the long-term valuation of the company's digital distribution assets.

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