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Earnings transcript
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WBD
Warner Bros. Discovery, Inc.
$27.2
0.32
(1.19%)
| Exchange: | NASDAQ |
| Market Cap: | 68.194B |
| Shares Outstanding: | 560.407M |
Delayed data
About The Company
| Sector: | Communication Services | |||||
| Industry: | Entertainment | |||||
| CEO: | David Zaslav | |||||
| Full Time Employees: | 35000 | |||||
| Address: |
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| Website: | https://ir.wbd.com |
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.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 41,321,000 | 39,321,000 | 37,296,000 |
| Gross Profit | 16,795,000 | 16,351,000 | 10,511,000 |
| EBITDA | 22,367,000 | 11,612,000 | 9,416,000 |
| Operating Income | -1,548,000 | -10,032,000 | 1,309,000 |
| Net Income | -3,126,000 | -11,311,000 | 727,000 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 122,757,000 | 104,560,000 | 100,085,000 |
| Total Liabilities | 76,285,000 | 69,622,000 | 62,919,000 |
| Total Stockholders Equity | 45,226,000 | 34,037,000 | 35,919,000 |
| Total Debt | 43,669,000 | 39,505,000 | 139,000 |
| Cash and Cash Equivalents | 3,780,000 | 5,312,000 | 4,566,000 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 7,477,000 | 5,375,000 | 4,319,000 |
| Capital Expenditure | -1,316,000 | -948,000 | -1,231,000 |
| Free Cash Flow | 6,161,000 | 4,427,000 | 3,088,000 |
| Net Income | -3,126,000 | -11,482,000 | 749,000 |
| Net Change in Cash | 389,000 | 1,097,000 | -846,000 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2030 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 38,300,074.779 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 40,703,266.695 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 39,248,825.099 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 16,044,239.146 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 17,050,957.437 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 16,441,679.024 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | -746,628.300 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | -689,931 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | -712,321.500 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 10,258,253.097 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 10,901,921.577 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 10,512,365.418 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | -0.280 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | -0.270 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | -0.300 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 7 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 2 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Robust Content Portfolio and Global Reach: As highlighted in the Q4 2024 earnings call summary, Warner Bros. Discovery continues to leverage its strong content offerings across multiple platforms, enhancing its position in the media and entertainment sector. This aligns with its ability to maintain a competitive edge in the industry.
- Positive Financial Performance Indicators: Key metrics such as revenue growth and operating income, as reported in the income statements, demonstrate a solid financial foundation. The company's focus on generating consistent free cash flow, as seen in the cash flow statements, supports operational stability and potential reinvestment.
- Strategic Industry Positioning: WBD benefits from operating within a dynamic sector, as evidenced by industry and sector performance data. The company's alignment with industry trends, such as digital content consumption, positions it favorably against competitors.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates WBD intrinsic value between $12.92 – $26.59 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
[intrinsic_calculator]
Common questions about WBD valuation
Is Warner Bros. Discovery, Inc. (WBD) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for Warner Bros. Discovery, Inc. (WBD) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is WBD a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether WBD trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is WBD’s P/E ratio?
You can see WBD’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for WBD?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is WBD a good long-term investment?
Whether WBD fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
WBD
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Daily snapshot
1.19
Trading Metrics:
| Open: | 26.9 | Previous Close: | 26.88 | |
| Day Low: | 26.71 | Day High: | 27.28 | |
| Year Low: | 10.75 | Year High: | 30 | |
| Price Avg 50: | 27.01 | Price Avg 200: | 25.3 | |
| Volume: | 35.349M | Average Volume: | 20.965M |
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Login — it's freeWBD full analysis
Hey everyone, welcome back to the channel! Today, we’re diving deep into Warner Bros. Discovery, ticker WBD, a major player in the media and entertainment space. There’s a lot to unpack here, from their latest financials to the ongoing acquisition drama, so grab a coffee, and let’s break it all down together. Alright, before we get into the numbers, let’s set the stage. Warner Bros. Discovery has been making headlines lately, not just for their content but for the intense…
