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Warner Music Group WMG Total Cost of Revenue

Total Cost of Revenue at other companies

Reservoir Media, Inc. logo
Reservoir Media, Inc.RSVR
$16.07M+12.8%
Warner Bros. Discovery, Inc. logo
Warner Bros. Discovery, Inc.WBD
$4.64B-9.5%

Segments

By segment

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Recorded Music$707M+18.0%
Music Publishing$224M+15.5%

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$13.85B-14.4%
Enterprise value$14B-29.9%
P/E30.6×-23.8×
P/S1.9×-0.6×

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

Reported directly by Warner Music Group in its filing.

Tagged under the XBRL concept us-gaap:CostOfGoodsAndServicesSold.

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 total cost of revenue?
Warner Music Group (WMG) reported total cost of revenue of $930M in Q1 2026.
How has Warner Music Group's total cost of revenue changed year-over-year?
Warner Music Group's total cost of revenue increased by 17.6% year-over-year, from $791M to $930M.
What is the long-term trend for Warner Music Group's total cost of revenue?
Over 4 years (2021 to 2025), Warner Music Group's total cost of revenue has grown at a 7.3% compound annual growth rate (CAGR), from $2.74B to $3.63B.
What does total cost of revenue mean?
The aggregate of all direct costs attributable to producing goods and delivering services that generated the company's revenue, including materials, labor, and overhead.