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Warner Bros Discovery
WBDCommunicationGenerated Jul 5, 2026, 08:09 PM UTC
WBD (Warner Bros Discovery) analytical snapshot. Return on equity -9.18%, ROA -2.99%, ROIC -2.10%. Net income up ▲ +57.6% YoY. Debt/equity 1.00, current ratio 0.73, net debt $29.20B. Market cap $66.39B at $26.48 per share. FCF DCF intrinsic value ≈ $42.27 → implied upside +59.6%. DCF assumptions: Base FCF $6.16B; Stage-1 growth 8.00% for 5y; Terminal growth 2.50%; Discount rate 10.00%. Risk: High. Macro: Risk-on · Supportive. Composite analytical score 3 (data confidence 82%). Descriptive analytics from public filings — not investment advice.
Market cap
$66.39B
2.51B shares
Price
$26.48
NMS
P/E (ttm)
—
Revenue (FY)
—
Net margin
—
Free cash flow
$6.16B
Risk level
High
Free SEC analysis
— computed from SEC filings, free to readFree previewFundamentals Analyst
Fundamentals
Fundamentals Analyst
score -25Deteriorating
80% conf
Return on equity -9.18%, ROA -2.99%, ROIC -2.10%. Net income up ▲ +57.6% YoY. Debt/equity 1.00, current ratio 0.73, net debt $29.20B.
- Return on equity -9.18%, ROA -2.99%, ROIC -2.10%.
- Net income up ▲ +57.6% YoY.
- Debt/equity 1.00, current ratio 0.73, net debt $29.20B.
Revenue (FY)
—
Net margin
—
ROE
-9.18%
ROA -2.99%
ROIC
-2.10%
EPS (diluted)
$-1.28
FY2025
Free cash flow
$6.16B
Debt / equity
1.00
Cash $3.26B
Current ratio
0.73
Equity $32.58B
Annual fundamentals — up to 10 years (SEC 10-K, US-GAAP)
| FY | Revenue | Rev YoY | Gross% | Op% | Net% | FCF | ROE% |
|---|---|---|---|---|---|---|---|
| 2016 | — | — | — | — | — | — | — |
| 2017 | — | — | — | — | — | — | — |
| 2018 | $6.50B | — | 0.00 | 31.68 | 18.38 | $1.29B | 25.90 |
| 2019 | — | — | — | — | — | $1.49B | -4.02 |
| 2020 | — | — | — | — | — | $2.43B | 6.01 |
| 2021 | — | — | — | — | — | $3.11B | 19.77 |
| 2022 | — | — | — | — | — | $2.34B | 10.51 |
| 2023 | — | — | — | — | — | $2.42B | 2.14 |
| 2024 | — | — | — | — | — | $3.32B | -16.30 |
| 2025 | — | — | — | — | — | $6.16B | -9.18 |
Quarterly revenue trend (last 6 quarters, SEC 10-Q)
| Quarter end | Revenue | YoY | QoQ | Net margin |
|---|---|---|---|---|
| Sep 30, 2022 | $9.82B | +9.1% | — | -53.65% |
| Mar 31, 2023 | $10.70B | +238.7% | +8.9% | -9.99% |
| Jun 30, 2023 | $21.06B | +62.2% | +96.8% | -10.96% |
| Jun 30, 2023 | $10.36B | -20.2% | -50.8% | -22.29% |
| Sep 30, 2023 | $31.04B | +36.1% | +199.6% | -8.78% |
| Sep 30, 2023 | $9.98B | -56.2% | -67.8% | -27.32% |
Revenue (annual, SEC 10-K)
2016: 0
2017: 0
2018: 6,497
2019: 0
2020: 0
2021: 0
2022: 0
2023: 0
2024: 0
2025: 0
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Profitability trends (%)
GrossOperatingNet
Free cash flow (annual)
2016: 0
2017: 0
2018: 1,292
2019: 1,494
2020: 2,429
2021: 3,110
2022: 2,337
2023: 2,425
2024: 3,317
2025: 6,161
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Sources:SEC EDGAR — Company Facts (XBRL)
Free previewRegulatory Analyst
Filings & Ownership
Regulatory Analyst
score 30Improving
80% conf
Latest annual report (10-K) filed Feb 27, 2026. Latest quarterly report (10-Q) filed May 6, 2026. 11 recent 8-K material-event filings in the index.
- Latest annual report (10-K) filed Feb 27, 2026.
- Latest quarterly report (10-Q) filed May 6, 2026.
- 11 recent 8-K material-event filings in the index.
- Recent insider Form 4s: 0 buy vs 0 sell transactions.
- ~10,000+ recent 13F-HR filings reference Warner Bros Discovery; broad institutional reporting.
- Recent filers include NEXPOINT ASSET MANAGEMENT, L.P., Audent Global Asset Management, LLC, HARVEST MANAGEMENT LLC.
- 9 recent 13D activist/beneficial-ownership filings — potential catalyst.
- 11 recent 13G passive institutional ownership notices.
Latest 10-K
Feb 27, 2026
Annual report
Latest 10-Q
May 6, 2026
8-K (recent)
11
Insider net
—
0B/0S
13F filers
10k+
Activist 13D
9
Recent 13F institutional filers (SEC EDGAR full-text)
| Filer | Form | Filed |
|---|---|---|
| NEXPOINT ASSET MANAGEMENT, L.P. | 13F-HR | May 15, 2026 |
| Audent Global Asset Management, LLC | 13F-HR | Feb 14, 2024 |
| HARVEST MANAGEMENT LLC | 13F-HR | Nov 14, 2025 |
| Westchester Capital Management, LLC | 13F-HR | Nov 14, 2025 |
| Cannon Global Investment Management, LLC | 13F-HR | Oct 28, 2025 |
Recent 8-K material events
| Date | Form | Description |
|---|---|---|
| Jun 12, 2026 | 8-K | 8-K |
| Jun 4, 2026 | 8-K | 8-K |
| May 27, 2026 | 8-K | 8-K |
| May 19, 2026 | 8-K | 8-K |
| May 6, 2026 | 8-K | 8-K |
| Apr 30, 2026 | 8-K | 8-K |
| Apr 23, 2026 | 8-K | 8-K |
| Mar 16, 2026 | 8-K | 8-K |
Free previewSEC Filing Analyst
SEC Filing Deep-Analysis
SEC Filing Analyst
score -15Deteriorating
64% conf
1 risk signal(s) detected from XBRL filing diff analysis. 1 risk signal(s) detected versus 0 positive signal(s). The balance of evidence suggests elevated filing-specific risk that warrants monitoring in subsequent filings.
- NEW: Substantial doubt about ability to continue in latest filing: The term "substantial doubt" "ability to continue" appears in recent 10-K/10-Q filings but was NOT present in the prior 24-month period. This is a new risk disclosure that warrants attention. Found in 11 filing(s).
- Endogenous analysis: 1 risk signal(s) detected versus 0 positive signal(s). The balance of evidence suggests elevated filing-specific risk that warrants monitoring in subsequent filings.
- 1 new XBRL disclosure(s) in latest filing — expanding reporting scope.
- 20 disclosure(s) dropped from prior year — reduced reporting granularity.
- 1 new risk-language term(s) detected in filing text: Substantial doubt about ability to continue.
Revenue
$6.50B
— YoY
Operating income
$-1.55B
+79.0% YoY
Net income
$-3.13B
+57.6% YoY
Operating cash flow
$7.48B
+73.7% YoY
Capex
$1.32B
+33.3% YoY
Total assets
$104.56B
-14.8% YoY
Total liabilities
$69.62B
-8.7% YoY
Long-term debt
$39.51B
-9.5% YoY
Filing quality score
72/100
1 new disclosures
SEC XBRL metric changes (latest annual vs prior)
| Metric | Prior year | Latest year | Change | % Change |
|---|---|---|---|---|
| Revenue | — | $6.50B | — | — |
| Operating income | $-7.37B | $-1.55B | $5.82B | +79.0% |
| Net income | $-7.37B | $-3.13B | $4.25B | +57.6% |
| Operating cash flow | $4.30B | $7.48B | $3.17B | +73.7% |
| Capex | $987.0M | $1.32B | $329.0M | +33.3% |
| Total assets | $122.76B | $104.56B | $-18.20B | -14.8% |
| Total liabilities | $76.28B | $69.62B | $-6.66B | -8.7% |
| Long-term debt | $43.67B | $39.51B | $-4.16B | -9.5% |
| Cash & equivalents | $3.78B | $5.31B | $1.53B | +40.5% |
| Stockholders equity | $45.23B | $34.04B | $-11.19B | -24.7% |
| SG&A expense | $9.68B | $9.70B | $18.0M | +0.2% |
| Interest expense | $648.0M | $633.0M | $-15.0M | -2.3% |
XBRL disclosure changes (new vs dropped concepts)
| Type | Concepts |
|---|---|
| Added | StockIssuedDuringPeriodValueShareBasedCompensation |
| Removed | AccruedRoyaltiesCurrent, AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment, AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation, AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue, AdvertisingExpense, AllocatedShareBasedCompensationExpense, AmortizationOfIntangibleAssets, CapitalExpendituresIncurredButNotYetPaid, ContractualObligation, ContractualObligationDueAfterFifthYear |
Risk language in filing text (EDGAR full-text search)
| Term | Severity | Recent | Prior | Status |
|---|---|---|---|---|
| Substantial doubt about ability to continue | high | 11 | 0 | NEW |
Filing signal breakdown
Red flags: 1
Positive: 0
Watch: 0
Red flags
Positive
Watch
Unlock the rest
- ProValuationMarket cap $66.39B at $26.48 per share.
- ProPrice & TechnicalsPrice $26.48 — uptrend (above 200-DMA); 1-month momentum negative.
- ProMacro & RatesMarket regime: Risk-on · Supportive.
- ProRisk ScorecardComposite risk: High.
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Macro exposure
Cyclical / growth · High sensitivityMacro regime: Risk-on · Supportive. Warner Bros Discovery is a cyclical / growth name (high macro sensitivity) — risk appetite favors cyclical/growth names.
Macro regime
Risk-on · Supportive
Yield curve
Normal
VIX
16.59
Fed funds
3.63%
CPI YoY
+4.2%
Analytical read
deterministic previewMarket cap $66.39B at $26.48 per share..
Risk
High
Macro regime
Risk-on · Supportive
Macro exposure
Supportive
Descriptive analytics from public filings and macro data — not investment advice.
Peer comparison
Cyclical / growth groupHow WBD stacks up against tracked peers with similar macro sensitivity — by analytical score and macro exposure.
| Company | Score | Macro |
|---|---|---|
| Marathon Petroleum MPC | 25 | Supportive |
| Nike Inc. NKE | 24 | Supportive |
| Airbnb Inc. ABNB | 22 | Supportive |
| Datadog Inc. DDOG | 16 | Supportive |
| Okta Inc. OKTA | 15 | Supportive |
| Valero Energy VLO | 13 | Supportive |
| Deere & Co. DE | 12 | Supportive |
| ASML Holding NV ASML | 10 | Supportive |
| Marriott International MAR | 10 | Supportive |
| GE Aerospace GE | 10 | Supportive |
| United Parcel Service UPS | 9 | Supportive |
| Snowflake Inc. SNOW | 8 | Supportive |
| Cloudflare Inc. NET | 8 | Supportive |
| NVIDIA Corp. NVDA | 7 | Supportive |
| Alphabet Inc. GOOGL | 7 | Supportive |
| General Motors Co. GM | 7 | Supportive |
| Booking Holdings BKNG | 6 | Supportive |
| Nucor Corp. NUE | 5 | Supportive |
| Shopify Inc. SHOP | 5 | Supportive |
| Ulta Beauty Inc. ULTA | 5 | Supportive |
| Pinterest Inc. PINS | 5 | Supportive |
| Amazon.com Inc. AMZN | 4 | Supportive |
| Microchip Technology MCHP | 3 | Supportive |
| Warner Bros Discovery WBD● you | 3 | Supportive |
| Adobe Inc. ADBE | 3 | Supportive |
| Intuit Inc. INTU | 2 | Supportive |
| General Dynamics GD | 1 | Supportive |
| Roku Inc. ROKU | 1 | Supportive |
| Lockheed Martin LMT | 0 | Supportive |
| Boeing Co. BA | 0 | Supportive |
| Hess Corp. HES | 0 | Supportive |
| MercadoLibre Inc. MELI | -1 | Supportive |
| EOG Resources EOG | -2 | Supportive |
| Applied Materials Inc. AMAT | -2 | Supportive |
| IBM Corp. IBM | -3 | Supportive |
| Spotify Technology SPOT | -3 | Supportive |
| Energy Transfer ET | -3 | Supportive |
| Meta Platforms Inc. META | -4 | Supportive |
| Uber Technologies UBER | -4 | Supportive |
| Phillips 66 PSX | -4 | Supportive |
| United Airlines Holdings UAL | -5 | Supportive |
| Caterpillar Inc. CAT | -5 | Supportive |
| Alibaba Group BABA | -5 | Supportive |
| Comcast Corp. CMCSA | -6 | Supportive |
| TJX Cos. TJX | -6 | Supportive |
| Starbucks Corp. SBUX | -6 | Supportive |
| Schlumberger N.V. SLB | -7 | Supportive |
| Workday Inc. WDAY | -7 | Supportive |
| McDonald's Corp. MCD | -7 | Supportive |
| Micron Technology MU | -8 | Supportive |
| CF Industries CF | -8 | Supportive |
| Lam Research Corp. LRCX | -8 | Supportive |
| Albemarle Corp. ALB | -8 | Supportive |
| Delta Air Lines DAL | -8 | Supportive |
| Yum Brands Inc. YUM | -8 | Supportive |
| Linde plc LIN | -9 | Supportive |
| Home Depot Inc. HD | -10 | Supportive |
| Sherwin-Williams SHW | -10 | Supportive |
| Chipotle Mexican Grill CMG | -10 | Supportive |
| Old Dominion Freight ODFL | -10 | Supportive |
| Salesforce Inc. CRM | -11 | Supportive |
| Netflix Inc. NFLX | -12 | Supportive |
| Union Pacific Corp. UNP | -12 | Supportive |
| Norfolk Southern NSC | -13 | Supportive |
| Air Products & Chemicals APD | -13 | Supportive |
| Exxon Mobil Corp. XOM | -14 | Supportive |
| Palo Alto Networks PANW | -14 | Supportive |
| Royal Caribbean Group RCL | -15 | Supportive |
| Apple Inc. AAPL | -15 | Supportive |
| ConocoPhillips COP | -15 | Supportive |
| Zscaler Inc. ZS | -15 | Supportive |
| Occidental Petroleum OXY | -15 | Supportive |
| Devon Energy DVN | -16 | Supportive |
| Kinder Morgan KMI | -16 | Supportive |
| Cisco Systems Inc. CSCO | -16 | Supportive |
| CSX Corp. CSX | -16 | Supportive |
| Microsoft Corp. MSFT | -16 | Supportive |
| Tesla Inc. TSLA | -17 | Supportive |
| Walt Disney Co. DIS | -17 | Supportive |
| Dow Inc. DOW | -17 | Supportive |
| ON Semiconductor Corp. ON | -18 | Supportive |
| Oracle Corp. ORCL | -18 | Supportive |
| CrowdStrike Holdings CRWD | -18 | Supportive |
| Mosaic Co. MOS | -18 | Supportive |
| RTX Corp. RTX | -19 | Supportive |
| Advanced Micro Devices AMD | -19 | Supportive |
| Freeport-McMoRan FCX | -20 | Supportive |
| Dollar General Corp. DG | -20 | Supportive |
| Eaton Corp. ETN | -22 | Supportive |
| Chevron Corp. CVX | -22 | Supportive |
| T-Mobile US Inc. TMUS | -22 | Supportive |
| 3M Co. MMM | -23 | Supportive |
| Lowe's Cos. LOW | -24 | Supportive |
| Texas Instruments TXN | -24 | Supportive |
| Honeywell International HON | -24 | Supportive |
| Qualcomm Inc. QCOM | -25 | Supportive |
| Marvell Technology MRVL | -29 | Supportive |
| Intel Corp. INTC | -31 | Supportive |
| Verizon Communications VZ | -31 | Supportive |
| ServiceNow Inc. NOW | -33 | Supportive |
| Newmont Corp. NEM | -34 | Supportive |
| Autodesk Inc. ADSK | -34 | Supportive |
| Broadcom Inc. AVGO | -35 | Supportive |