Warner Bros. Discovery, Inc. - (WBD) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Warner Bros. Discovery, Inc. -

NasdaqGS•Communication Services•Entertainment

$30.950.00(0.00%)Market closed

Market Cap

$77.72B

P/S

2.2x

P/B

2.4x

Warner Bros. Discovery, Inc. operates as a media and entertainment company worldwide. It operates through three segments: Streaming, Studios, and Global Linear Networks. The Streaming segment offers streaming services, such as HBO Max and discovery+, and premium pay-TV services, including HBO and certain premium sports streaming products for mobile and connected TV devices. The Studios segment engages in the production and release of feature films for initial exhibition in theaters, production and initial licensing of television programs to third parties and its networks/streaming services. This segment also distributes films and television programs to various third-party and internal television, streaming services, and physical and digital home entertainment markets; related consumer products and themed experience licensing; and publishes, develops, licenses, and distributes content for the interactive space in platforms, including console, handheld, mobile, and PC-based gaming for both internal and third-party game titles. The Global Linear Networks segment provides general and lifestyle entertainment networks, news networks; and hosts international media networks and global sports networks. In addition, the company offers a portfolio of content and products for television, film, streaming, interactive gaming, publishing, themed experiences, and consumer products under the Discovery Channel, HBO Max, discovery+, CNN, DC, TNT Sports, Eurosport, HBO, HGTV, Food Network, OWN, Investigation Discovery, TLC, Magnolia Network, TNT, TBS, truTV, Travel Channel, Animal Planet, Science Channel, Warner Bros. Motion Picture Group, Warner Bros. Television Group, Warner Bros. Pictures Animation, Warner Bros. Games, New Line Cinema, Cartoon Network, Adult Swim, Turner Classic Movies, Discovery en Espanol, Hogar de HGTV, and other brands. The company was incorporated in 2008 and is based in New York, New York. As of October 6, 2026, Warner Bros. Discovery, Inc. operates as a subsidiary of Skydance Corporation.

How this company scores

WeakMetricSide Score: 30/100

Grade capped at D — Interest coverage below 1× (0.5x) — earnings cannot cover interest. Strongest: Balance Sheet & Red Flags (11/25); weakest: Growth (3/25).

Profitability9/25

Growth3/25

Balance Sheet & Red Flags11/25

Cash & Earnings Quality7/25

Strengths

Improving margins

Grade capped at D

Interest coverage below 1× (0.5x) — earnings cannot cover interest.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 105.7x5y range 13.8x – 158.2x

Currently near its 4-quarter median.

P/S · 2.2x5y range 1.5x – 3.7x

Currently near its 18-quarter median.

P/B · 2.4x5y range 1.3x – 2.4x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

Operating margins dropped 752.3% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.

Earnings Quality

Red Flag

FCF consistently trails net income (avg -0.8x) — earnings may be inflated by non-cash items or aggressive accounting.

Price & Volume

Market Cap $77.72B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $36.12B
Q. Revenue: $8.72B
TTM EBITDA: $3.80B
TTM Op. Income: $-1.27B
Q. Op. Income: $237.00M
TTM Net Income: $-3.17B
Q. Net Income: $149.00M
EPS: $0.06
Shares Out.: $2.51B

$36.12B in TTM revenue declined 6.1% YoY, reaching $8.72B last quarter. TTM EBITDA of $3.80B and TTM operating income of $-1.27B show growth is flowing through to the bottom line. However, net income is negative at $3.17B — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has fallen for 4 consecutive quarters — a weakening trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 47.0%
EBITDA Margin: 16.0%
Op. Margin: 2.7%
Net Margin: 1.7%

Op. margin of 2.7% is up 4.6% YoY — cost efficiency is improving. Net margin at 1.7% and gross margin of 47.0% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 244% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 2.2x
P/B Ratio: 2.4x

P/S of 2.2x and P/B of 2.4x. Over the past year, P/E is up 0% — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $97.25B
Cash: $3.37B
Long-Term Debt: $32.02B
Book Value: $32.84B
D/E Ratio: 1.0
Debt/EBITDA: 22.9

With $97.25B in assets and $32.02B in long-term debt, D/E is 1.0and book value is $32.84B — a conservative capital structure with a cushion to weather downturns. Over the past year, debt/equity is up 2% — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $848.00M
TTM Free Cash Flow: $2.18B
FCF Margin: 6.0%
FCF / Net Income: -0.7

TTM FCF of $2.18B on $848.00M in operating cash flow. The FCF / Net Income ratio of -0.7x means the business consumes cash — it is not yet self-funding. Across the last 8 quarters, free cash flow has fallen for 3 consecutive quarters — a weakening trend.