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Warner Bros. Discovery, Inc. WBD Studios — Segment Adjusted EBITDA

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Other financials

Income statement

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Revenue$8.9B-1.0%
Gross profit$4.3B+10.4%
Operating income-$2.5B-6,573%
Net income-$2.9B-544%
EPS (diluted)-$1.17-550%

Balance sheet

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Cash & equivalents$3.3B-15.6%
Total debt$1.5B-46.3%
Total equity$32.6B-3.7%
Total assets$97.8B-3.8%

Cash flow

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Operating cash flow-$208.0M-138%
CapEx$268.0M+6.8%
Free cash flow-$476.0M-258%

Valuation

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Market cap$67.64B+160%
Enterprise value$65.87B+164%
P/S1.8×+1.1×

Profitability

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Gross margin45.2%+2.7pp
Operating margin-4.6%-2.1pp
Net margin1.3%+0.7pp
FCF margin6.2%-5.1pp

Returns & leverage

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Return on equity1.4%+0.7pp
Debt / equity0.0×
Current ratio0.7×-0.1×

Where this comes from

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

Tagged under the XBRL concept wbd:TotalAdjustedEBITDA.

The official record: Warner Bros. Discovery, Inc.’s 10-Q, filed May 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Warner Bros. Discovery, Inc.'s studios — segment adjusted EBITDA?
Warner Bros. Discovery, Inc. (WBD) reported studios — segment adjusted EBITDA of $775M in Q1 2026.
How has Warner Bros. Discovery, Inc.'s studios — segment adjusted EBITDA changed year-over-year?
Warner Bros. Discovery, Inc.'s studios — segment adjusted EBITDA increased by 199.2% year-over-year, from $259M to $775M.
What is the long-term trend for Warner Bros. Discovery, Inc.'s studios — segment adjusted EBITDA?
Over 4 years (2021 to 2025), Warner Bros. Discovery, Inc.'s studios — segment adjusted EBITDA has grown at a 267.2% compound annual growth rate (CAGR), from $14M to $2.55B.
What does studios — segment adjusted EBITDA mean?
This metric represents the earnings before interest, taxes, depreciation, and amortization for the film and television production segment, adjusted for non-cash items and specific non-recurring charges. It serves as a primary indicator of the operational profitability and cash-generating capacity of the company's content creation and distribution activities. By excluding capital structure and accounting conventions, it allows investors to evaluate the underlying performance of the studio business relative to its production costs and licensing revenues.