Financial Statements · From SEC 10-K & 10-Q XBRL Filings
Warner Bros. Discovery, Inc. Revenue & Financial Statements
Warner Bros. Discovery, Inc. reported revenue of $37.3B for the fiscal year ended December 31, 2025, down 5.1% year over year, with net income of $749.0M and diluted EPS of $0.29.
- Company
- Warner Bros. Discovery, Inc. WBD · NASDAQ
- Latest fiscal year
- FY ended Dec 31, 2025
- Statements
- Income · Balance Sheet · Cash Flow — 5 fiscal years, 8 quarters
Income Statement
Annual, as reported in 10-K filings. Values in USD.
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Revenue | 12.2B | 33.8B | 41.3B | 39.3B | 37.3B |
| Cost of revenue | 4.6B | 20.4B | 24.5B | 23.0B | 20.9B |
| Gross profit | 7.6B | 13.4B | 16.8B | 16.4B | 16.4B |
| Operating income | 2.0B | (7.4B) | (1.5B) | (10.0B) | 738.0M |
| Pretax income | 1.6B | (8.7B) | (4.7B) | (11.8B) | 895.0M |
| Net income | 912.0M | (7.4B) | (3.1B) | (11.3B) | 749.0M |
| Diluted EPS | — | -3.82 | -1.28 | -4.62 | 0.29 |
| EBITDA | 2.3B | (6.4B) | (451.0M) | (8.9B) | 6.4B |
Quarterly
| USD | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 10.0B | 9.7B | 9.6B | 10.0B | 9.0B | 9.8B | 9.0B | 9.5B |
| Cost of revenue | 6.1B | 6.2B | 5.2B | 5.5B | 5.1B | 6.0B | 4.6B | 5.2B |
| Gross profit | 3.9B | 3.5B | 4.4B | 4.5B | 3.8B | 3.8B | 4.5B | 4.2B |
| Operating income | (267.0M) | (10.2B) | 281.0M | 162.0M | (37.0M) | (185.0M) | 611.0M | 349.0M |
| Pretax income | (819.0M) | (10.0B) | (178.0M) | (356.0M) | (434.0M) | 2.5B | 27.0M | (408.0M) |
| Net income | (970.0M) | (10.0B) | 135.0M | (493.0M) | (453.0M) | 1.6B | (148.0M) | (247.0M) |
| Diluted EPS | -0.40 | -4.07 | 0.05 | -0.20 | -0.18 | 0.63 | -0.06 | -0.10 |
| EBITDA | 1.6B | (8.5B) | 2.0B | 1.8B | 1.5B | 1.3B | 2.0B | 1.7B |
Balance Sheet
Fiscal year-end snapshots. Values in USD.
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Total assets | 34.4B | 134.0B | 122.8B | 104.6B | 100.1B |
| Current assets | 7.3B | 14.0B | 14.2B | 14.1B | 13.2B |
| Cash & equivalents | 3.9B | 3.7B | 3.8B | 5.3B | 4.6B |
| Total liabilities | 21.0B | 85.3B | 76.3B | 69.6B | 62.9B |
| Current liabilities | 3.5B | 15.0B | 15.3B | 15.8B | 12.5B |
| Long-term debt | — | — | — | — | — |
| Total debt | 339.0M | 365.0M | 1.8B | 2.7B | 139.0M |
| Stockholders’ equity | 11.6B | 47.1B | 45.2B | 34.0B | 35.9B |
| Net debt | (3.6B) | (3.4B) | (2.0B) | (2.6B) | (4.4B) |
Cash Flow Statement
Annual, as reported in 10-K filings. Values in USD.
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Operating cash flow | 2.8B | 4.3B | 7.5B | 5.4B | 4.3B |
| Investing cash flow | (56.0M) | 3.5B | (1.3B) | (349.0M) | (1.2B) |
| Financing cash flow | (853.0M) | (7.7B) | (5.8B) | (3.7B) | (4.2B) |
| Capital expenditure | 373.0M | 987.0M | 1.3B | 948.0M | 1.2B |
| Free cash flow | 2.4B | 3.3B | 6.2B | 4.4B | 3.1B |
| Dividends paid | — | — | — | — | — |
| Stock-based compensation | 178.0M | 412.0M | 500.0M | 557.0M | 769.0M |
Figures are parsed from SEC XBRL company facts and may be derived where issuers report year-to-date values (quarterly figures differenced; Q4 computed as FY minus Q3). Fiscal periods follow each company's fiscal calendar, not calendar years. Historical fact, not investment advice — verify with official SEC filings.
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