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Warner Music Group WMG Q4 2025 Annual earnings

Reported November 20, 2025 · Before market open

Revenue$1.9BBeat by $96.0MDiluted EPS$0.21Miss by $0.14
Revenue estimate$1.8B
EPS estimate$0.35

Next report

Aug 6, 2026 (In 3 weeks)
Revenue estimate$1.8B
EPS estimate$0.38

Financials

Q4 2025

Income statement

See full
Revenue$1.9B+14.6%
Gross profit$834.0M+7.5%
Operating income$143.0M0.0%
Net income$109.0M+166%

Balance sheet

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Cash & equivalents$532.0M-23.3%
Total debt$545.0M-87.3%
Total equity$647.0M+24.9%
Total assets$9.8B+7.4%

Cash flow

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Operating cash flow$231.0M-24.0%
CapEx$28.0M-15.2%
Free cash flow$203.0M-25.1%

Valuation & ratios

Valuation

as of 09/30/25
See full
Market cap$17.75B+9.5%
Enterprise value$17.77B-10.3%
P/E48.6×+11.4×
P/S2.6×+0.1×

Profitability

See full
Gross margin45.8%-1.9pp
Operating margin10.3%-2.5pp
Net margin5.4%-1.3pp
FCF margin8%-2.8pp

Returns & leverage

See full
Return on equity62.7%-42.8pp
Debt / equity0.8×-7.4×
Current ratio0.7×0.0×

Segments

By product

See full
Digital$1.2B+8.0%
Artist services and expanded-rights$327.0M+67.7%
Physical$130.0M-3.0%
Licensing$126.0M-1.6%
Performance$61.0M+41.9%

By segment

See full
Recorded Music$1.5B+14.6%
Music Publishing$337.0M+14.2%

Versus estimates

Revenue

Q2 2026$1.7BBeat by $119.7MQ1 2026$1.8BBeat by $67.2M
Q4 2025$1.9BBeat by $96.0M
Q3 2025$1.7BBeat by $95.7MQ2 2025$1.5BMiss by $33.0MQ1 2025$1.7BBeat by $131.3M

Diluted EPS

Q2 2026$0.44Beat by $0.14Q1 2026$0.33Miss by $0.07
Q4 2025$0.21Miss by $0.14
Q3 2025-$0.03Miss by $0.32Q2 2025$0.07Miss by $0.21Q1 2025$0.45Beat by $0.11

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Questions, answered.

When did Warner Music Group report Q4 2025 earnings?
Warner Music Group (WMG) reported Q4 2025 earnings on November 20, 2025 before market open.
What were Warner Music Group's Q4 2025 revenue and EPS?
Warner Music Group reported revenue of $1.9B and diluted EPS of $0.21 for Q4 2025.
Did Warner Music Group beat estimates in Q4 2025?
Revenue beat the consensus estimate of $1.8B by $96.0M. EPS missed the consensus estimate of $0.35 by $0.14.
How did Warner Music Group's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 14.6% from $1.6B a year earlier and diluted EPS grew 162.5% from $0.08.
Where can I find Warner Music Group's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001319161-25-000032) and the 10-K periodic report (0001319161-25-000034) directly on SEC EDGAR. The filing index links above go to sec.gov.