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Warner Music Group WMG Q4 2025 Annual earnings

Reported November 20, 2025 · Before market open

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

Next report

Nov 19, 2026 (in 2 months)
Revenue estimate$1.9B
EPS estimate$0.38

Financials

Q4 2025

Income statement

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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
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Market cap$17.75B+9.5%
Enterprise value$17.77B-10.3%
P/E48.6×+11.4×
P/S2.6×+0.1×

Profitability

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

Returns & leverage

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

Segments

By product

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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

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

FAQ

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 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 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.