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Warner Music Group WMG Recorded Music — Goodwill

Other segment segments

Music Publishing
$464M0.0%

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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:Goodwill.

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 recorded music — goodwill?
Warner Music Group (WMG) reported recorded music — goodwill of $1.59B in Q1 2026.
How has Warner Music Group's recorded music — goodwill changed year-over-year?
Warner Music Group's recorded music — goodwill increased by 1.5% year-over-year, from $1.57B to $1.59B.
What is the long-term trend for Warner Music Group's recorded music — goodwill?
Over 4 years (2021 to 2025), Warner Music Group's recorded music — goodwill has grown at a 3.5% compound annual growth rate (CAGR), from $5.5B to $6.31B.
What does recorded music — goodwill mean?
The premium paid over the fair market value of net assets during the acquisition of music catalogs or labels within the recorded music segment. It reflects the intangible value of artist relationships, brand reputation, and market position.