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Warner Music Group WMG Gross margin

Gross margin at other companies

Warner Bros. Discovery, Inc. logo
Warner Bros. Discovery, Inc.WBD
45.2%+2.7pp

Other financials

Income statement

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Revenue$1.7B+16.7%
Gross profit$802.0M+15.7%
Operating income$264.0M+57.1%
Net income$183.0M+408%

Balance sheet

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Cash & equivalents$741.0M+16.3%
Total debt$895.0M-79.0%
Total equity$738.0M+30.2%
Total assets$10.6B+10.9%

Cash flow

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Operating cash flow$126.0M+82.6%
CapEx$27.0M-25.0%
Free cash flow$99.0M+200%

Valuation

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Market cap$14.88B-18.2%
Enterprise value$15.03B-32.3%
P/E32.9×-7.3×
P/S2.1×-0.8×

Profitability

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Operating margin12.1%+0.6pp
Net margin6.3%-0.8pp

Returns & leverage

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Return on equity69.3%-21.1pp
Debt / equity1.2×-6.3×
Current ratio0.7×+0.1×

Where this comes from

Calculated from Warner Music Group’s reported figures.

gross profit/total revenue=45.8%

Based on trailing twelve months.

The official record: Warner Music Group’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Warner Music Group's gross margin?
Warner Music Group (WMG) reported gross margin of 45.8% in Q1 2026.
How has Warner Music Group's gross margin changed year-over-year?
Warner Music Group's gross margin decreased by 2.2% year-over-year, from 46.8% to 45.8%.
What is the long-term trend for Warner Music Group's gross margin?
Over 4 years (2021 to 2025), Warner Music Group's gross margin has grown at a -0.9% compound annual growth rate (CAGR), from 193.3% to 186.2%.
What does gross margin mean?
How much of every sales dollar is left after the direct cost of what was sold.
How do you interpret gross margin?
Higher and stable gross margins indicate pricing power and a durable cost structure. A declining trend signals input-cost pressure, pricing competition, or a shift toward lower-margin products.
How does gross margin compare across companies?
Highly comparable within an industry, less so across industries — software runs 70%+ while distributors run in single digits. Track the trend more than the absolute level across sectors.