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Warner Music Group WMG Invested capital

Discontinued — last reported Q2 '26

Invested capital at other companies

Tenet Healthcare logo
Tenet HealthcareTHC
$148M0.0%
Encompass Health Corporation logo
Encompass Health CorporationEHC
$1.3M
Tenet Healthcare logo
Tenet HealthcareTHC
$135M+17.4%
Tenet Healthcare logo
Tenet HealthcareTHC
$143M-27.8%
American Healthcare REIT logo
American Healthcare REITAHR
$5.07B+34.4%
American Healthcare REIT logo
American Healthcare REITAHR

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$14.69B-18.2%
Enterprise value$14.85B-32.3%
P/E32.5×-7.2×
P/S2.1×-0.8×

Profitability

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Gross margin45.8%-1.0pp
Operating margin12.1%+0.6pp
Net margin6.3%-0.8pp
FCF margin10.2%-1.8pp

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.

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 invested capital?
Warner Music Group (WMG) reported invested capital of $892M in Q1 2026.
How has Warner Music Group's invested capital changed year-over-year?
Warner Music Group's invested capital decreased by 78.7% year-over-year, from $4.18B to $892M.
What is the long-term trend for Warner Music Group's invested capital?
Over 5 years (2020 to 2025), Warner Music Group's invested capital has grown at a -25.2% compound annual growth rate (CAGR), from $2.83B to $660M.
What does invested capital mean?
The capital — debt plus equity, net of idle cash — that funds the operating business.
How do you interpret invested capital?
A level, read mainly through ROIC (NOPAT ÷ invested capital). Growing invested capital is only good if returns on it stay above the cost of capital.
How does invested capital compare across companies?
Used as the base for ROIC; the definition is sector-sensitive, so banks and insurers are best excluded.