What are Warner Music Group's profit margins?

Warner Music Group (WMG) runs a 45.8% gross margin and a 12.1% operating margin, with a 6.3% net margin.

Where do Warner Music Group's ratios come from?

Every ratio is computed from Warner Music Group's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Warner Music Group WMG Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	TTM Q2 '26	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25	TTM Q2 '25
Profitability
Gross margin	45.8%-1.0pp	45.9%-1.0pp	45.8%-1.9pp	46.6%-0.9pp	46.8%-0.5pp
Operating margin	12.1%+0.6pp	11.2%+0.4pp	10.3%-2.5pp	10.7%-3.2pp	11.6%-2.1pp
Net margin	6.3%-0.8pp	4.4%-3.6pp	5.4%-1.3pp	4.6%-4.0pp	7.1%-1.1pp
EBITDA margin	17.8%+0.8pp	16.8%+0.8pp	16%-1.9pp	16.2%-2.8pp	16.9%-1.9pp
Free cash flow margin	10.2%-1.8pp	9.6%-1.8pp	8%-2.8pp	9.4%-2.0pp	12%+1.4pp
Returns
Return on equity	69.3%-21.1pp	48.2%-53.4pp	62.7%-42.8pp	55.4%-87.5pp	90.4%-64.1pp
Return on assets	4.5%-0.5pp	3.2%-2.5pp	3.8%-1.1pp	3.2%-3.2pp	4.9%-1.4pp
Return on invested capital	25.5%+12.2pp	25.4%+11.9pp	21.8%+5.5pp	11.6%-5.3pp	13.3%-2.9pp
Efficiency
Asset turnover	0.7×0.0×	0.7×0.0×	0.7×0.0×	0.7×-0.1×	0.7×-0.1×
Inventory turnover	50.5×+14.1×	51.7×+16.3×	45.1×+15.3×	35.8×+3.6×	36.4×+4.5×
Liquidity
Current ratio	0.7×+0.1×	0.7×0.0×	0.7×0.0×	0.7×0.0×	0.7×0.0×
Quick ratio	0.7×+0.1×	0.7×0.0×	0.6×0.0×	0.6×0.0×	0.6×0.0×
Cash ratio	0.2×0.0×	0.2×0.0×	0.1×-0.1×	0.1×0.0×	0.2×0.0×
Leverage
Debt-to-equity	1.2×-6.3×	0.8×-7.0×	0.8×-7.4×	7.3×-1.5×	7.5×-2.4×
Debt-to-assets	0.1×-0.4×	0.1×-0.4×	0.1×-0.4×	0.4×0.0×	0.4×0.0×
Net debt / EBITDA	0.1×-3.3×	-0.2×-3.6×	0×-3.1×	3.6×+0.6×	3.4×+0.3×
Valuation
Market capitalization	$13.34B-18.2%	$16.02B-0.2%	$17.75B+9.5%	$14.08B-11.3%	$16.31B-4.3%
Enterprise value	$13.49B-32.3%	$15.81B-18.8%	$17.77B-10.3%	$17.87B-8.4%	$19.93B-3.9%
Price / earnings	29.5×-6.6×	52.5×+21.2×	48.6×+11.4×	47.4×+18.4×	36.1×+3.9×
Price / sales	1.9×-0.7×	2.3×-0.2×	2.6×+0.1×	2.2×-0.3×	2.6×-0.1×
Price / book	18.1×-10.7×	22.3×-7.2×	27.4×-3.9×	23.9×-8.9×	28.8×-10.6×
EV / EBITDA	10.7×-7.9×	13.7×-5.5×	16.6×-0.6×	17×+1.0×	18.6×+1.4×
EV / sales	1.9×-1.3×	2.3×-0.8×	2.6×-0.4×	2.8×-0.3×	3.1×-0.1×
Free cash flow yield	5.5%+0.8pp	4.1%-0.4pp	3%-1.3pp	4.3%-0.3pp	4.7%+0.7pp
Earnings yield	3.4%+0.6pp	1.9%-1.3pp	2.1%-0.6pp	2.1%-1.3pp	2.8%-0.3pp
Dividend yield	3%+0.7pp	2.4%+0.1pp	2.2%-0.1pp	2.7%+0.4pp	2.3%+0.2pp

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Questions, answered.

What are Warner Music Group's profit margins?: Warner Music Group (WMG) runs a 45.8% gross margin and a 12.1% operating margin, with a 6.3% net margin.
Where do Warner Music Group's ratios come from?: Every ratio is computed from Warner Music Group's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.