Warner Bros. Discovery, Inc. (WBD) Stock Price & Analysis
Warner Bros. Discovery, Inc. (WBD) — MoonshotScore 27/100 (Weak band), calculated Oct 5, 2026. Price $30.94 (-0.03%), as of the Oct 2, 2026 trading session; market cap $77.6B. Expected results Nov 5, 2026.
Educational signal · not a buy or sell recommendation · How to read this
Market value / cash and short-term investments: 23.03× (market value Oct 2, 2026; cash Jun 30, 2026) · expected results Nov 5, 2026
Warner Bros. Discovery, Inc. · WBD · NASDAQ · Communication Services · Entertainment
Research dated 2026-09-12: Warner Bros. Discovery monetizes film, television, news, sports, lifestyle programming, games and major franchises through distribution, advertising, licensing, theatrical releases and direct subscriptions. The defining question is whether Max and broader franchise monetization can counter pressure on linear distribution and advertising while preserving enough cash to service substantial debt.
Price as of Oct 2, 2026
Key Statistics
MoonshotScore v2 · Warner Bros. Discovery (WBD)
WeakWhy this rating? Method, drivers & history
Bands for the MoonshotScore: Exceptional 80-100 · Strong 65-79 · Fair 45-64 · Weak below 45.
- Business Quality — Is this a genuinely good business?
- Financial Safety — Could this blow up on me?
- Valuation — Am I paying a fair price?
- Growth Durability — Is the growth real and likely to last?
- Momentum — Is the market already moving on this?
Strong price action running well ahead of the business — stalling growth underneath; a move to treat with suspicion, not chase. Business Quality: Average; Financial Safety: Strained; Valuation: Rich; Growth Durability: Fading; Momentum: Surging.
- quarterly revenue $8.72B (Q2 FY2026, quarter ended Jun 2026)
- EPS beat 4 of 8
- expected results Nov 5, 2026
Holding back: balance-sheet strain, a rich price, soft growth
Helping: positive momentum
What has the MoonshotScore done over time?
| Recorded | Score | Band |
|---|---|---|
| 27 | Weak | |
| 27 | Weak | |
| 31 | Weak | |
| 31 | Weak | |
| 27 | Weak | |
| 27 | Weak |
The score was 27 in the stored Oct 4, 2026 snapshot and remains 27 in the current publication computed Oct 5, 2026 (0); the largest pillar moves were Growth Durability +3; the pillar moves offset under the sector-relative weighting, so the headline score is unchanged. This current publication is not yet represented in the immutable snapshot archive.
Calculation uses the most recent completed US trading session. Live price changes do not update the score immediately.
Computed · Educational signal · not a buy or sell recommendation · How the MoonshotScore is computed →
Price & valuation
| Measure | Value | As of |
|---|---|---|
| Latest provided price | $30.94 | |
| Change on the day | -0.03% | |
| 52-week range | $17.08 – $30.97 | |
| Market capitalisation | $77.6B | |
| Shares traded on the day | 59.66M | |
| Beta (volatility vs the S&P 500) | 1.57 |
Price & events
Triangles mark reported quarters on the line: pointing up is above the recorded estimate, down is below, a diamond means no estimate on file. Numbers key to the dated list. Point at or tab to any week for its close.
Events behind the price
- · Earnings results · above the recorded estimate
- · Earnings results · below the recorded estimate
- · Earnings results · below the recorded estimate
- · Earnings results · above the recorded estimate
Results dates follow the earnings feed; call dates follow the transcript provider. Nearby dates do not establish that an event caused a price move.
Upcoming events
The provider's estimated date can change.
What to watch nextCouncil Score · weighted blend of 2 available disciplines
Council score for Warner Bros. Discovery (WBD): Split View
38/100 · DSome lenses disagree with the MoonshotScore. Compare their readings below; each uses a different method.
5-Factor Breakdown
Legends Council
5 lenses, 5 current
AI simulations built from the named investors' published principles. Not affiliated with, endorsed by, or the opinion of these individuals. How these lenses are built
Read on: Oct 5, 2026
Munger's Mindset
Balance Sheet & Valuation · historical
Read on: Sep 9, 2026 · older than the 27 hours refresh window; not a current reading
How to read these bars and different assessments
Council is a separate blend of available disciplines; MoonshotScore above remains the five-pillar research rating.
Bars show each model's ordered assessment on its own scale, not a probability or a comparable investment return. The adjacent words give the assessment; more filled segments indicate a stronger model reading.
One of these lenses reads this company more favourably than the MoonshotScore does: Dalio-style lens. Each lens is a separate scoring function over its own inputs, so a disagreement is a difference of method rather than a correction — the page's answer stays the MoonshotScore above.
On Sep 9, 2026, the Munger lens read the price at that time as fairly valued against its own estimate of value.
Readings on this page are from Oct 5, 2026, except a card that shows its own read date.
Watch the WBD film — every key number, told as a short cinematic story
~2 min · open the film
What is Warner Bros. Discovery (WBD), and what does it report?
Short answer · as of
Warner Bros. Discovery, Inc. operates as a prominent global media and entertainment conglomerate. Its operations are structured across three key divisions: Studios, Network, and Direct-to-Consumer (DTC).
Research dated 2026-09-12.
Warner Bros. Discovery is not merely a streaming service or film studio. It creates and licenses programming, releases films, operates television networks, sells advertising and distribution access, delivers HBO and Max directly to consumers, and extends intellectual property into games, home entertainment and themed attractions.
Reported revenue is led by distribution, with content licensing and advertising also material. Studios, Networks and Direct-to-Consumer therefore capture different routes to the audience, while the revenue categories show how those routes are monetized.
What do the latest results show for Warner Bros. Discovery (WBD)?
Short answer · as of
The most recent reported quarter, Q2 FY2026, carried revenue of $8.72B.
Research dated 2026-09-12.
Latest quarterly revenue edged down from the preceding period and fell short of consensus. Gross profit remained substantial, but operating profit declined; the net result swung from a deep loss to a modest profit, and diluted earnings exceeded expectations.
Operating cash flow rebounded from an outflow and covered capital spending. Across the annual record, revenue has contracted through recent periods even as the latest full-year net result turned positive after sustained losses.
The operating mechanism remains mixed: distribution depends on subscription and distribution relationships, advertising depends on audience monetization, and studio and licensing revenue depend on content releases and sales across internal and external outlets. Those channels can make revenue, accounting earnings and cash generation move differently in the same period.
Where is operating spending going?
Revenue alongside research and development, selling, general and administrative expenses, and the FMP standardized operating result.
- Latest quarter · revenue
- $8.72B Jun 30, 2026
- Latest quarter · SG&A
- $2.56B Jun 30, 2026
- Latest quarter · FMP standardized operating result
- $237.00M Jun 30, 2026
| Period end | Revenue | R&D | SG&A | FMP standardized operating result |
|---|---|---|---|---|
| Jun 30, 2026 | $8.72B | Not available | $2.56B | $237.00M |
| Mar 31, 2026 | $8.89B | Not available | $2.48B | $549.00M |
| Dec 31, 2025 | $9.46B | Not available | $2.39B | $536.00M |
| Sep 30, 2025 | $9.04B | Not available | $2.36B | $611.00M |
USD. The operating result is the FMP-standardized value supplied by FMP; it may differ from a filing’s GAAP loss from operations when the provider classifies separately presented items differently. It is not net income or cash flow.
Did results meet expectations?
Reported earnings and revenue alongside the estimates recorded by the provider.
- Latest report · revenue
- $8.72B Aug 6, 2026
- Latest report · revenue estimate
- $9.25B Aug 6, 2026
- Latest report · revenue vs estimate
- Below estimate Aug 6, 2026
- Latest report · EPS vs estimate
- Above estimate Aug 6, 2026
| Report date | Revenue · reported | Revenue · estimate | EPS · reported | EPS · estimate |
|---|---|---|---|---|
| Aug 6, 2026 | $8.72B | $9.25B | $0.0600 | −$0.1404 |
| May 6, 2026 | $8.89B | $8.89B | −$1.1700 | −$0.1088 |
| Feb 26, 2026 | $9.46B | $9.35B | −$0.1000 | −$0.0323 |
| Nov 6, 2025 | $9.04B | $9.18B | −$0.0600 | −$0.0679 |
Dates are report dates, not fiscal period ends. Revenue is in USD; EPS is USD per share, rounded to four decimals. The earnings feed does not establish a basic, diluted or adjusted basis. Earnings-feed EPS may differ from statement EPS; the two series are not combined.
Quarterly income statement — 4 quarters
| Period | Revenue | Net income | EPS |
|---|---|---|---|
| Q2 FY2026 | $8.72B | $149M | $0.06 (diluted) |
| Q1 FY2026 | $8.89B | -$2.92B | -$1.17 (diluted) |
| Q4 FY2025 | $9.46B | -$252M | -$0.10 (diluted) |
| Q3 FY2025 | $9.04B | -$148M | -$0.06 (diluted) |
What are the financial strengths and risks for Warner Bros. Discovery (WBD)?
Short answer
Cash and short-term investments were $3.37B at the Jun 30, 2026 balance-sheet date. Operating cash flow was $848.00M for the quarter ended Jun 30, 2026, meaning operations generated cash. These figures do not establish a cash runway.
Research dated 2026-09-12.
Cash generation is the clearest financial support. Operating cash flow has been positive in most reported periods, the latest inflow exceeded capital spending, and the trailing free-cash-flow measure remains positive. Cash also rose modestly from the preceding period, although it remains below recent peaks.
Leverage is the constraint. Debt substantially exceeds cash, total liabilities are heavy, short-term liquidity ratios sit below parity, and the company remains in a net-debt position. The distress and quality screens offer limited reassurance rather than a strong balance-sheet signal.
Distribution and advertising supply meaningful revenue, so sustained deterioration in those channels would reduce the cash available for debt service and investment in programming, streaming and franchises.
Data-derived red flags
- Financial-distress signal — its Altman Z-Score of 0.81 sits in the distress zone (elevated bankruptcy risk).
- Negative return on equity (-9.2%) — the business is not currently generating profit on shareholder capital.
How much cash does the business generate or use?
Quarterly operating cash flow shows cash generated or used by operations.
- Latest quarter · operating cash flow
- $848.00M Jun 30, 2026
- Previous quarter · operating cash flow
- −$208.00M Mar 31, 2026
| Period end | Operating cash flow | Capital expenditure (reported) |
|---|---|---|
| Jun 30, 2026 | $848.00M | −$276.00M |
| Mar 31, 2026 | −$208.00M | −$268.00M |
| Dec 31, 2025 | $1.80B | −$421.00M |
| Sep 30, 2025 | $979.00M | −$278.00M |
Operating cash-flow bars share one scale and show magnitude; negative values mean cash used.
USD. Negative operating cash flow means cash used. Capital expenditure keeps the provider’s reported sign; it is not added here to estimate free cash flow or runway.
What should you watch next at Warner Bros. Discovery (WBD)?
Short answer · as of
The next earnings report is expected on Nov 5, 2026.
Research dated 2026-09-12.
At the scheduled earnings release, watch whether revenue holds near its recent run rate, net earnings remain around break-even and operating cash flow stays positive after capital spending. The latest release paired an earnings beat with a revenue miss, making the relationship between top-line stability and profit quality especially important.
Debt reduction and the cash balance deserve equal attention. Strong quarterly cash generation matters far more if it narrows the gap between debt and liquid resources rather than merely offsetting periodic operating swings.
Longer-range consensus anticipates modest revenue expansion and gradual earnings improvement. Recent analyst actions have largely settled around neutral or hold positions and include downgrades, reflecting restrained expectations that operating results will need to overcome.
How does Warner Bros. Discovery compare with its peers?
Short answer
Warner Bros. Discovery's score ranks 6th of 6 in the bounded comparison shown, against 5 same-model peers. These are company scores, not expected investment returns. The set lists named competitors first, then companies in the same data-provider industry classification closest in market value; that classification is the provider's, not our judgment of business similarity.
Research dated 2026-09-12.
A pure streamer mainly monetizes subscriptions and advertising, while Warner Bros. Discovery can route the same intellectual property through theaters, television production, licensing, linear networks, Max, games, home entertainment and attractions. A film or series is therefore not confined to a single release window or customer relationship.
Its genuine distinction is the combination of a major studio and franchise library with a broad network portfolio and a direct subscription platform. That breadth creates several monetization paths, but it also keeps mature linear distribution and advertising exposure inside the same company that is funding streaming.
| Company | Price | Market value | Score |
|---|---|---|---|
| $147.85 Oct 2, 2026 | $28.5B | 96 5-pillar Oct 5, 2026 | |
| $62.28 Oct 2, 2026 | $26.3B | 90 5-pillar Oct 5, 2026 | |
| $21.57 Oct 2, 2026 | $76.5B | 79 5-pillar Oct 5, 2026 | |
| $21.29 Oct 2, 2026 | $63.9B | 76 5-pillar Oct 5, 2026 | |
| $168.77 Oct 2, 2026 | $39.3B | 60 5-pillar Oct 5, 2026 | |
| Warner Bros. Discovery (WBD) — this page | $30.94 | $77.6B | 27 |
| $102.19 Date unavailable | $177B | — Model unavailable | |
| $91.20 Date unavailable | $22.9B | — Model unavailable | |
| $152.39 Date unavailable | $22.6B | — Model unavailable | |
| $67.06 Date unavailable | $279B | — Model unavailable | |
| $31.65 Date unavailable | $17.3B | — Model unavailable | |
| $26.82 Date unavailable | $14.0B | — Model unavailable | |
| $175.58 Date unavailable | $13.2B | — Model unavailable |
Only 5-pillar scores are ranked together. Other models are not directly comparable. Price and score dates are shown separately; market-value dates are unavailable.
The records behind this page
Analyst targets & estimates
What analysts have on file
- Price target, low to high
- $31.00 – $31.00
- Consensus target
- $31.00
- Median target
- $31.00
Consensus record · Captured .
Measured against a quoted price of $30.94 (as of Oct 2, 2026).
Insider activity
Form 4 records via FMP · Of the newest 100 records, those within the last 180 days, newest dated Sep 30, 2026
- Transactions
- 50
- Identified insiders
- 18
- Purchases
- 0
- Sales
- 19
- Other transactions
- 31
Purchases and sales use the reported transaction category. Other transactions include awards, exercises, gifts, withholding and unclassified activity; an acquisition or disposition alone is not a purchase or sale. These records do not establish intent.
Who holds the shares?
Institutional ownership reported through 13F filings.
- Institutional ownership
- 79.1% Period end Jun 30, 2026
- Previous quarter · ownership
- 71.8% Prior to period end Jun 30, 2026
- Reporting holders
- 1,432 Period end Jun 30, 2026
- Previous quarter · holders
- 1,409 Prior to period end Jun 30, 2026
| Holders in provider snapshot | Shares |
|---|---|
| Blackrock, INC. | 198,085,828 |
| Vanguard Capital Management LLC | 158,635,529 |
| State Street Corp | 128,364,674 |
| Vanguard Portfolio Management LLC | 105,102,281 |
| Invesco Ltd. | 80,086,951 |
Quarterly filings lag the period end. Holder rows are names in the provider snapshot, not a verified ranking; individual filing dates are not supplied. Related managers may appear separately, so these positions are not summed. Holder snapshot as of Jun 30, 2026.
What has been published about Warner Bros. Discovery (WBD)?
Warner Bros. Discovery Communication Services Stock: Key Questions Answered
Research dated 2026-09-12; the answers below are from that research, and the full attribution is under Sources. The last 3 questions are answered from this page's own dated data, not from the research.
How does Max fit alongside HBO and Warner Bros. studios?
Max is the direct subscription outlet, while HBO programming and the wider Warner Bros. and Discovery catalog can also support networks, licensing, home entertainment and other distribution channels. The platform is therefore part of a broader content-monetization system rather than the entire business.
Why do Warner Bros. Discovery earnings and cash flow move differently?
Several reported periods pair accounting losses with positive operating cash flow, while the latest period produced a modest profit and a cash inflow after the preceding outflow. Content economics, working-capital movements and non-operating items can make diluted earnings an incomplete guide to cash available after capital spending.
Why is distribution revenue so important to Warner Bros. Discovery?
Distribution is the largest reported revenue category, ahead of content licensing and advertising. It ties a substantial share of the business to subscription and distribution relationships across linear channels, digital partners and direct offerings.
How can Warner Bros. Discovery reuse a franchise across its businesses?
A franchise can move through theatrical releases, television programming, licensing, proprietary networks, Max, games, home entertainment and attractions. That creates repeated monetization opportunities across Studios, Networks and Direct-to-Consumer without making every channel respond to demand in the same way.
What is the WBD stock price today?
The last price recorded on this page for Warner Bros. Discovery, Inc. (WBD) is $30.94, as of the Oct 2, 2026 trading session (source: Financial Modeling Prep (FMP) · quote). It is a provider snapshot, not a live exchange feed, so check a brokerage quote before you trade.
What is the WBD price target?
The analyst consensus price target for Warner Bros. Discovery, Inc. (WBD) is $31.00 (range $31.00 to $31.00, median $31.00), per FMP data captured Oct 5, 2026. Targets are analyst opinions and change often; they are not a Stock Expert AI forecast.
When are WBD's next earnings?
The next earnings date listed on this page for Warner Bros. Discovery, Inc. (WBD) is Nov 5, 2026. Companies sometimes move report dates, so the company's own announcement is the final word on timing.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Research written by Codex (gpt-5.6-sol) on 2026-09-12. AI-authored analysis; source dates are shown with each answer. Editorial oversight is systemic, not page-by-page. Editorially accountable: Sedat ANAK, Founder and Editor-in-Chief.
Sources — records for every figure on this page (79 figures)
The 79 rows below are exactly the facts the evidence-backed sections of this page printed — the 10-second verdict, the MoonshotScore, price and market value, the five questions with their receipts, and the records behind this page. Known dates and sources are recorded on their own rows; an em dash or UNRECORDED tier preserves a stored observation without inventing either. The quarterly income statement is provider-standardized (FMP) under one row, and scale definitions — a 0-100 rating, the band ladder, the Piotroski 0–9 range — are fixed rather than measured. No number in those sections was generated by a model. The register does not cover quoted third-party headlines, the dated council readings, or the Frequently Asked Questions; each of those says where it came from where it stands.
"As of" is the date the value is true for where the source carries one — a quarter end, a filing date, a price close, the day the score was computed. A cached observation with no source date remains undated; the page publication date is not used as a substitute.
OFFICIAL — 1 fact from SEC filings and earnings calls
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
id.hq | SEC filing business address | NEW York, NY | OFFICIAL | SEC EDGAR filer business address — The SEC filer business address. Our market-data provider separately lists "230 Park Avenue South, New York City, NY, 10003, US". The FMP company description names New York City as the headquarters; this page uses the address in this row. |
FMP — 68 facts from Financial Modeling Prep endpoint families
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
px.last | Latest provided price | $30.94 | FMP | Financial Modeling Prep (FMP) · quote — Dated to the US trading session the price belongs to, derived from the quote record's timestamp (weekend and pre-open reads roll back to the previous weekday; exchange holidays are not modelled). The record does not establish an exchange execution time. Retrieved 2026-10-05T11:44:31.578Z. | |
px.change | Change on the day | -0.03% | FMP | Financial Modeling Prep (FMP) · quote | |
px.mcap | Market capitalisation | $77.6B | FMP | Financial Modeling Prep (FMP) · quote — Date unknown Market cap record date: 2026-10-02. FMP quote timestamp: 2026-10-02T20:00:00.000Z. Captured from FMP at 2026-10-05T11:44:28.651Z. No share-count basis is inferred; this page preserves the reported amount instead of recalculating it from shares. | |
px.change_abs | Change on the day, in dollars | −$0.01 | FMP | Financial Modeling Prep (FMP) · quote | |
fin.q_revenue | Revenue, Q2 FY2026 | $8.72B | FMP | Financial Modeling Prep (FMP) · income statement (quarterly) | |
px.volume | Shares traded on the day | 59.66M | FMP | Financial Modeling Prep (FMP) · quote | |
px.beta | Beta | 1.57 | FMP | Financial Modeling Prep (FMP) company profile | |
id.business_summary | Business description (FMP excerpt) | Warner Bros. Discovery, Inc. operates as a prominent global media and entertainment conglomerate. Its operations are structured across three key divisions: Studios, Network, and Direct-to-Consumer (DTC). | FMP | Financial Modeling Prep (FMP) company profile — Deterministic excerpt derived from id.description; source and date describe the input fact, not a new provider observation | |
id.ceo | Chief executive | David Zaslav | FMP | Financial Modeling Prep (FMP) key executives (proxy-derived) — Titles and pay come from the company's proxy statement as our provider parsed it. | |
id.employees | Employees | 35,500 | FMP | Financial Modeling Prep (FMP) employee count, from the company's filing | |
fin.annual | Revenue and net result by fiscal year | 5 fiscal years, FY2021 through FY2025: FY2021 revenue $12.19B, net result $1.01B; FY2022 revenue $33.82B, net result −$7.37B; FY2023 revenue $41.32B, net result −$3.13B; FY2024 revenue $39.32B, net result −$11.31B; FY2025 revenue $37.30B, net result $727.00M | FMP | Financial Modeling Prep (FMP), from the company's 10-K income statements | |
fin.rev_mix | Reported revenue segments | Advertising $8.09B · Service, Other $1.23B · Distribution Revenue $19.70B · Content Licensing Contracts $10.30B | FMP | Financial Modeling Prep (FMP) revenue segmentation, from the company's 10-K | |
fin.gross_margin | Gross margin (trailing twelve months) | 43.4% | FMP | Financial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm — A ratio our provider could not compute is absent rather than shown as zero. | |
fin.q_table.depth.2026-06-30.revenue_k | Revenue — period end 2026-06-30 | $8.72B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-06-30.sga_k | SG&A — period end 2026-06-30 | $2.56B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-06-30.operating_result_k | FMP standardized operating result — period end 2026-06-30 | $237.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-03-31.revenue_k | Revenue — period end 2026-03-31 | $8.89B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-03-31.sga_k | SG&A — period end 2026-03-31 | $2.48B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-03-31.operating_result_k | FMP standardized operating result — period end 2026-03-31 | $549.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-12-31.revenue_k | Revenue — period end 2025-12-31 | $9.46B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-12-31.sga_k | SG&A — period end 2025-12-31 | $2.39B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-12-31.operating_result_k | FMP standardized operating result — period end 2025-12-31 | $536.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-09-30.revenue_k | Revenue — period end 2025-09-30 | $9.04B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-09-30.sga_k | SG&A — period end 2025-09-30 | $2.36B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-09-30.operating_result_k | FMP standardized operating result — period end 2025-09-30 | $611.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
earn.history.depth.2026-08-06.revenue_actual | Revenue · reported — report date 2026-08-06 | $8.72B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-08-06.revenue_estimated | Revenue · estimate — report date 2026-08-06 | $9.25B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-08-06.eps_actual | EPS · reported — report date 2026-08-06 | $0.0600 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-08-06.eps_estimated | EPS · estimate — report date 2026-08-06 | −$0.1404 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-05-06.revenue_actual | Revenue · reported — report date 2026-05-06 | $8.89B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-05-06.revenue_estimated | Revenue · estimate — report date 2026-05-06 | $8.89B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-05-06.eps_actual | EPS · reported — report date 2026-05-06 | −$1.1700 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-05-06.eps_estimated | EPS · estimate — report date 2026-05-06 | −$0.1088 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-26.revenue_actual | Revenue · reported — report date 2026-02-26 | $9.46B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-26.revenue_estimated | Revenue · estimate — report date 2026-02-26 | $9.35B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-26.eps_actual | EPS · reported — report date 2026-02-26 | −$0.1000 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-26.eps_estimated | EPS · estimate — report date 2026-02-26 | −$0.0323 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-11-06.revenue_actual | Revenue · reported — report date 2025-11-06 | $9.04B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-11-06.revenue_estimated | Revenue · estimate — report date 2025-11-06 | $9.18B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-11-06.eps_actual | EPS · reported — report date 2025-11-06 | −$0.0600 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-11-06.eps_estimated | EPS · estimate — report date 2025-11-06 | −$0.0679 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
fin.q_table | Quarterly income statement | 4 quarters through Q2 FY2026 | FMP | Financial Modeling Prep (FMP) · income statement (quarterly), as filed | |
fin.cash_investments | Cash and short-term investments | $3.37B | FMP | Financial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. Long-term investments are excluded and remain unclassified. Restrictions on cash and short-term investments require separate review. | |
fin.opcf_latest | Latest-quarter operating cash flow | $848.00M | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Period end: 2026-06-30. Negative operating cash flow means cash used. This figure is not a cash-runway estimate. | |
fin.long_term_investments | Long-term investments (classification unverified) | $0.00 | FMP | Financial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. | |
fin.total_debt | Total debt | $32.02B | FMP | Financial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. | |
fin.price_to_book | Price to book value | 2.37× | FMP | Financial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm — A ratio our provider could not compute is absent rather than shown as zero. | |
fin.opcf.depth.2026-06-30.operating_cash_flow_m | Operating cash flow — period end 2026-06-30 | $848.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2026-03-31.operating_cash_flow_m | Operating cash flow — period end 2026-03-31 | −$208.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2026-06-30.capex_m | Capital expenditure (reported) — period end 2026-06-30 | −$276.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2026-03-31.capex_m | Capital expenditure (reported) — period end 2026-03-31 | −$268.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-12-31.operating_cash_flow_m | Operating cash flow — period end 2025-12-31 | $1.80B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-12-31.capex_m | Capital expenditure (reported) — period end 2025-12-31 | −$421.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-09-30.operating_cash_flow_m | Operating cash flow — period end 2025-09-30 | $979.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-09-30.capex_m | Capital expenditure (reported) — period end 2025-09-30 | −$278.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
earn.pt_range | Analyst price target, low to high | $31.00 – $31.00 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 5, 2026 · Coverage not supplied | |
earn.pt_consensus | Consensus analyst price target | $31.00 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 5, 2026 · Coverage not supplied | |
earn.pt_median | Median analyst price target | $31.00 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 5, 2026 · Coverage not supplied | |
own.insiders | Insider transactions via FMP | 50 transactions · 0 purchases, 19 sales, 31 other transactions · 18 identified insiders · of the newest 100 records, those within the last 180 days, newest dated Sep 30, 2026 | FMP | Financial Modeling Prep (FMP), carrying Form 4 transaction records — Purchases and sales use the reported transaction category. Other transactions include awards, exercises, gifts, withholding and unclassified activity; an acquisition or disposition alone is not a purchase or sale. These records do not establish intent. | |
own.institutions.depth.ownership_pct | Institutional ownership | 79.1% | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Period end Jun 30, 2026 | |
own.institutions.depth.ownership_pct_previous_quarter | Previous quarter · ownership | 71.8% | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Prior to period end Jun 30, 2026 | |
own.institutions.depth.holders | Reporting holders | 1,432 | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Period end Jun 30, 2026 | |
own.institutions.depth.holders_previous_quarter | Previous quarter · holders | 1,409 | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Prior to period end Jun 30, 2026 | |
own.top_holders.depth.holder_0.shares | Blackrock, INC. — shares in provider snapshot | 198,085,828 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_1.shares | Vanguard Capital Management LLC — shares in provider snapshot | 158,635,529 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_2.shares | State Street Corp — shares in provider snapshot | 128,364,674 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_3.shares | Vanguard Portfolio Management LLC — shares in provider snapshot | 105,102,281 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_4.shares | Invesco Ltd. — shares in provider snapshot | 80,086,951 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. |
UNRECORDED — 5 facts from stored observations whose source was not recorded
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
earn.next | Next earnings date | Nov 5, 2026 | UNRECORDED | Stored earnings-calendar observation — Captured 2026-09-30 | |
earn.history | Reported versus estimated, recent quarters | EPS beat 4 of 8 | UNRECORDED | Stored earnings-history observation — Captured 2026-09-25 · Expired observation | |
px.range52 | 52-week range | $17.08 – $30.97 | UNRECORDED | Stored company-profile observation — Captured 2026-10-03 | |
fin.scores | Distress and quality screens | Altman Z 0.81 · Piotroski F 4 | UNRECORDED | Stored financial-scores observation — Captured 2026-10-04 · Expired observation | |
fin.ratios | Return and yield ratios (trailing twelve months) | ROE -9.2% · ROA -3.3% · current ratio 0.78 · earnings yield -4.1% · free-cash-flow yield 2.8% | — | UNRECORDED | Stored key metrics — Date unknown |
COMPUTED — 3 facts from our arithmetic, formula restated
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
fin.mcap_to_cash | Market value per dollar of cash and short-term investments | 23.03× | — | COMPUTED | Computed on this page from the figures above — The market capitalisation printed on this page divided by cash and short-term investments of $3.37B at Jun 30, 2026. Long-term investments are excluded and remain unclassified. Restrictions on cash and short-term investments require separate review. Market cap record date: 2026-10-02. Balance-sheet reference date: 2026-06-30. The inputs do not establish a single common source date for this ratio. |
earn.history.depth.2026-08-06.revenue_actual.comparison | Latest report · revenue vs estimate | Below estimate | Report date · | COMPUTED | Computed from Financial Modeling Prep (FMP) earnings — Earnings-history note — Method: compare reported revenue ($8.72B) with the recorded estimate ($9.25B) at displayed precision. Equal displayed values are in line. This compares reported results with recorded estimates, not investment returns. |
earn.history.depth.2026-08-06.eps_actual.comparison | Latest report · EPS vs estimate | Above estimate | Report date · | COMPUTED | Computed from Financial Modeling Prep (FMP) earnings — Earnings-history note — Method: compare reported EPS ($0.0600) with the recorded estimate (−$0.1404) at displayed precision. Equal displayed values are in line. This compares reported results with recorded estimates, not investment returns. |
OURS — 2 facts from Stock Expert AI's own score and rank
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
ours.moonshot | MoonshotScore v2 | 27 of 100 · Weak · pillars 43 / 24 / 28 / 21 / 92 | OURS | Stock Expert AI MoonshotScore v2 engine | |
ours.moonshot_change | MoonshotScore movement | 27 (stored snapshot Oct 4, 2026) → 27 (current publication computed Oct 5, 2026) (0) | OURS | Stock Expert AI current score publication and immutable score snapshots — The current score publication is not yet represented in the immutable snapshot archive. |
Fact-family notes
- Quarterly statement note. Source series as of 2026-06-30. USD. The operating result is the FMP-standardized value supplied by FMP; it may differ from a filing’s GAAP loss from operations when the provider classifies separately presented items differently. It is not net income or cash flow. Applies to Fact IDs:
fin.q_table.depth.2026-06-30.revenue_k,fin.q_table.depth.2026-06-30.sga_k,fin.q_table.depth.2026-06-30.operating_result_k,fin.q_table.depth.2026-03-31.revenue_k,fin.q_table.depth.2026-03-31.sga_k,fin.q_table.depth.2026-03-31.operating_result_k,fin.q_table.depth.2025-12-31.revenue_k,fin.q_table.depth.2025-12-31.sga_k,fin.q_table.depth.2025-12-31.operating_result_k,fin.q_table.depth.2025-09-30.revenue_k,fin.q_table.depth.2025-09-30.sga_k,fin.q_table.depth.2025-09-30.operating_result_k. - Earnings-history note. Source series as of 2026-08-06. Dates are report dates, not fiscal period ends. Revenue is in USD; EPS is USD per share, rounded to four decimals. The earnings feed does not establish a basic, diluted or adjusted basis. Earnings-feed EPS may differ from statement EPS; the two series are not combined. Applies to Fact IDs:
earn.history.depth.2026-08-06.revenue_actual,earn.history.depth.2026-08-06.revenue_estimated,earn.history.depth.2026-08-06.revenue_actual.comparison,earn.history.depth.2026-08-06.eps_actual.comparison,earn.history.depth.2026-08-06.eps_actual,earn.history.depth.2026-08-06.eps_estimated,earn.history.depth.2026-05-06.revenue_actual,earn.history.depth.2026-05-06.revenue_estimated,earn.history.depth.2026-05-06.eps_actual,earn.history.depth.2026-05-06.eps_estimated,earn.history.depth.2026-02-26.revenue_actual,earn.history.depth.2026-02-26.revenue_estimated,earn.history.depth.2026-02-26.eps_actual,earn.history.depth.2026-02-26.eps_estimated,earn.history.depth.2025-11-06.revenue_actual,earn.history.depth.2025-11-06.revenue_estimated,earn.history.depth.2025-11-06.eps_actual,earn.history.depth.2025-11-06.eps_estimated. - Cash-flow note. Source series as of 2026-06-30. USD. Negative operating cash flow means cash used. Capital expenditure keeps the provider’s reported sign; it is not added here to estimate free cash flow or runway. Applies to Fact IDs:
fin.opcf.depth.2026-06-30.operating_cash_flow_m,fin.opcf.depth.2026-03-31.operating_cash_flow_m,fin.opcf.depth.2026-06-30.capex_m,fin.opcf.depth.2026-03-31.capex_m,fin.opcf.depth.2025-12-31.operating_cash_flow_m,fin.opcf.depth.2025-12-31.capex_m,fin.opcf.depth.2025-09-30.operating_cash_flow_m,fin.opcf.depth.2025-09-30.capex_m.
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Sources used for research written 2026-09-12
Historical evidence preserved with this analysis. Current figures are listed separately above.
| Evidence | Captured value | Source date | Source type | Source |
|---|---|---|---|---|
| Legal name | Warner Bros. Discovery, Inc. | 2026-02-27 | OFFICIAL | SEC EDGAR — 10-K filed 2026-02-27 |
| Business description | Warner Bros. Discovery, Inc. operates as a prominent global media and entertainment conglomerate. Its operations are structured across three key divisions: Studios, Network, and Direct-to-Consumer (DTC). The Studios segment is responsible for the creation and theatrical release of feature films. It also develops and licenses television programming, serving both its internal network infrastructure and external partners, including direct-to-consumer platforms. Further, this segment manages the distribution of its film and television catalog to various third-party outlets and its proprietary television channels. Additionally, it encompasses streaming services, home entertainment distribution, licensing for themed attractions, and the creation of interactive games. The Network division oversees a comprehensive portfolio of television channels, both domestically and internationally. Its Direct-to-Consumer (DTC) segment focuses on delivering premium subscription television and streaming content directly to consumers. Beyond its operational structure, Warner Bros. Discovery commands an extensive intellectual property portfolio. This encompasses a vast array of iconic content, brands, and franchises spanning television, film, streaming, and gaming. Noteworthy examples include properties from the Warner Bros. Motion Picture Group and Television Group, DC, HBO, Max, Discovery Channel, CNN, HGTV, Food Network, TNT Sports, TBS, TLC, OWN, Warner Bros. Games, as well as beloved sagas like Batman, Superman, Wonder Woman, Harry Potter, Looney Tunes, Hanna-Barbera, Game of Thrones, and The Lord of the Rings. The company distributes its content through a multitude of channels, ranging from traditional linear, free-to-air, and broadcast television to authenticated digital applications, various digital distribution partnerships, content licensing agreements, and proprietary direct-to-consumer subscription offerings. Established in 2008, Warner Bros. Discovery, Inc. maintains its corporate headquarters in New York City. | 2026-09-12 | FMP | Financial Modeling Prep (FMP) company profile |
| Revenue by segment | Advertising: $8.09B; Service, Other: $1.23B; Distribution Revenue: $19.70B; Content Licensing Contracts: $10.30B | 2024-12-31 | FMP | Financial Modeling Prep (FMP) revenue segmentation, from the company's 10-K |
| Cash, investments and debt | Total debt: $32.02B; Liquidity basis: cash and short-term investments; Total liabilities: $63.25B; Cash and short-term investments: $3.37B; Cash and investments: $3.37B; Long-term investments: $0; Long-term investments classification: unclassified Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. | 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's balance sheet |
| Operating cash flow by quarter (USD millions) | Captured record · 8 entries
| 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements |
| Sector / industry (provider taxonomy) | Communication Services / Entertainment The company's SEC filings classify it under SIC 4841 — Cable & Other Pay Television Services. | 2026-09-12 | FMP | Financial Modeling Prep (FMP) company profile |
| Quarterly income statement (USD thousands) | Captured record · 8 entries
| 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements |
| Annual revenue and net result (USD millions) | Captured record · 5 entries
| 2025-12-31 | FMP | Financial Modeling Prep (FMP), from the company's 10-K income statements |
| Reported versus estimated, last 8 quarters | Captured record · 8 entries
| 2026-08-06 | FMP | Financial Modeling Prep (FMP) earnings |
| Most recent periodic reports | 2026-08-06 | OFFICIAL | SEC EDGAR filer submissions | |
| Cash and investment components | Total basis: cash short and long-term investments; Total: $3.37B; Cash and short-term investments: $3.37B; Long-term investments: $0; Long-term investments classification: unclassified Sums the balance sheet's cash and short-term investments with its long-term investments.; The long-term investment field does not establish marketability; the sum is not a measure of available liquidity.; These provider fields do not establish investment access restrictions or explain differences from third-party cash figures. | 2026-06-30 | COMPUTED | Computed from the balance sheet |
| Cash and short-term investments over time (USD millions) | Captured record · 8 entries
| 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's quarterly balance sheets |
| Cash against market value | As of: 2026-06-30; Cash basis: cash and short-term investments; Net cash: -$28.65B; Total debt: $32.02B; Cash and investments: $3.37B Price-based multiples captured at research time are not repeated here; the page shows each once, from current figures with their own dates. Cash is the latest reported cash and short-term investment balance; long-term investments are excluded. Market capitalization is the latest provider value.; The reported balance does not establish unrestricted availability or liquidation value.; The two are measured on different dates — the balance sheet is a quarter-end, the market cap is a recent close.; Debt is total debt as reported, including operating lease liabilities where the filer includes them. | 2026-06-30 | COMPUTED | Computed from the balance sheet and the latest market capitalization |
| Trailing twelve-month ratio set | Quick ratio: 0.78; Current ratio: 0.78; Debt to equity: 0.98; Net margin: -8.8%; Gross margin: 43.4%; Operating margin: 5.4%; Return on assets: -3.3%; Return on equity: -9.2% Price-based multiples captured at research time are not repeated here; the page shows each once, from current figures with their own dates. A ratio our provider could not compute is absent rather than shown as zero. | 2026-09-12 | FMP | Financial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm |
| Distress and quality screens | Altman Z-score: 0.74; Piotroski F-score: 4 Altman Z below 1.8 is the conventional distress zone. For a company holding large cash against negative retained earnings the score mostly reflects the retained-earnings term. | 2026-09-12 | FMP | Financial Modeling Prep (FMP) financial scores |
| Next earnings report | Date: 2026-11-05; EPS estimate: $0.02 per share; Revenue estimate: $8.74B The date is our provider's estimate until the company confirms it. | 2026-09-12 | FMP | Financial Modeling Prep (FMP) earnings calendar |
| Analyst revenue and earnings estimates (average) | Captured record · 4 entries
| 2026-09-12 | FMP | Financial Modeling Prep (FMP) analyst estimates |
| Analyst actions, most recent per firm | Captured record · 10 entries
One row per firm — the firm's most recent action in our feed. Other data vendors may carry firms ours does not. | 2026-07-27 | FMP | Financial Modeling Prep (FMP) analyst grades |
Data provided for informational purposes only.
ETFs that hold WBD
Funds in our ETF coverage that list WBD among the top 10 holdings on their fund page, largest weight first. Each weight is the fund's reported holding weight as of the date in its row.
| ETF | Weight | Holdings as of |
|---|---|---|
| Volshares Large Cap ETF (VSL) | 4.04% | |
| Harbor Long-Short Equity ETF (LSEQ) (LSEQ) | 3.79% | |
| Vanguard Mid-Cap Value ETF (VOE) | 1.16% |