WBD - Warner Bros. Discovery, Inc.

📈 Is growth accelerating? 7 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗
Revenue Growth YoY (%)	-5.1% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-164%)	-4.8% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-161%)	22.2% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+177%)	177.4% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+2117%)	14.2% Good ↓ Good Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+78%)	-4.2% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-153%)	5.6% Fair ↓ Fair Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-30%)	53.5% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+569%)	5.8% Fair → Fair Stable Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-28%)	1.6% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-80%)	2.1% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-74%)	13.2% Good → Good Stable Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+65%)	23.4% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+192%)	7.7% Fair ↑ Fair Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: At sector avg	10.5% Good ↓ Good Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+31%)	9.1% Fair ↓ Fair Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+14%)	0.4% Caution Caution Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-95%)	4430.3% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+55278%)	—
EPS Growth YoY (%)	N/M	-260.9% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	66.5% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	N/M	—	—	—	—	—	—	—	—	19.9% Good ↓ Good Declining Year-over-year change in earnings per share Optimal: > 10%	-11.0% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	84.3% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	19.5% Good Good Year-over-year change in earnings per share Optimal: > 10%	29.3% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	N/M	—
Net Income Growth YoY (%)	N/M	-261.8% Weak ↓ Weak Declining Year-over-year change in net income	57.6% Excellent ↑ Excellent Improving Year-over-year change in net income	N/M	-17.5% Weak ↓ Weak Declining Year-over-year change in net income	-41.1% Weak Weak Year-over-year change in net income	248.3% Excellent Excellent Year-over-year change in net income	N/M	N/M	15.5% Good ↑ Good Improving Year-over-year change in net income	-9.2% Weak ↓ Weak Declining Year-over-year change in net income	6.0% Fair ↓ Fair Declining Year-over-year change in net income	14.0% Fair ↓ Fair Declining Year-over-year change in net income	-16.7% Weak ↓ Weak Declining Year-over-year change in net income	73.4% Excellent ↑ Excellent Improving Year-over-year change in net income	18.9% Good Good Year-over-year change in net income	73.2% Excellent Excellent Year-over-year change in net income	N/M	—
FCF Growth YoY (%)	-31.0% Weak ↓ Weak Declining Year-over-year change in free cash flow	-28.6% Weak ↓ Weak Declining Year-over-year change in free cash flow	47.9% Excellent Excellent Year-over-year change in free cash flow	-58.5% Weak Weak Year-over-year change in free cash flow	—	—	—	—	—	—	—	—	—	4.6% Caution Caution Year-over-year change in free cash flow	78.4% Excellent Excellent Year-over-year change in free cash flow	—	—	—	—
Revenue CAGR 3Y (%)	3.3% Caution ↓ Caution Declining Compound annual revenue growth over 3 years	47.8% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	57.0% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	44.8% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	4.9% Caution ↓ Caution Declining Compound annual revenue growth over 3 years	15.8% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	19.7% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	18.2% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	3.1% Caution ↓ Caution Declining Compound annual revenue growth over 3 years	5.5% Fair ↓ Fair Declining Compound annual revenue growth over 3 years	12.5% Good → Good Stable Compound annual revenue growth over 3 years	14.6% Good ↑ Good Improving Compound annual revenue growth over 3 years	13.6% Good ↓ Good Declining Compound annual revenue growth over 3 years	9.1% Fair ↓ Fair Declining Compound annual revenue growth over 3 years	6.6% Fair Fair Compound annual revenue growth over 3 years	267.5% Excellent Excellent Compound annual revenue growth over 3 years	—	—	—
Revenue CAGR 5Y (%)	28.4% Excellent ↓ Excellent Declining Compound annual revenue growth over 5 years	28.7% Excellent → Excellent Stable Compound annual revenue growth over 5 years	31.4% Excellent ↑ Excellent Improving Compound annual revenue growth over 5 years	37.5% Excellent ↑ Excellent Improving Compound annual revenue growth over 5 years	13.4% Excellent ↑ Excellent Improving Compound annual revenue growth over 5 years	10.8% Good ↓ Good Declining Compound annual revenue growth over 5 years	12.2% Excellent ↑ Excellent Improving Compound annual revenue growth over 5 years	13.8% Excellent ↑ Excellent Improving Compound annual revenue growth over 5 years	8.9% Good ↓ Good Declining Compound annual revenue growth over 5 years	9.3% Good ↓ Good Declining Compound annual revenue growth over 5 years	11.1% Good ↓ Good Declining Compound annual revenue growth over 5 years	12.6% Excellent ↓ Excellent Declining Compound annual revenue growth over 5 years	10.0% Good Good Compound annual revenue growth over 5 years	126.1% Excellent Excellent Compound annual revenue growth over 5 years	—	—	—	—	—
EPS CAGR 3Y (%)	—	—	—	—	—	—	—	—	—	—	—	—	25.3% Excellent ↓ Excellent Declining Compound annual EPS growth over 3 years	25.2% Excellent Excellent Compound annual EPS growth over 3 years	41.8% Excellent Excellent Compound annual EPS growth over 3 years	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗
Operating Margin (%) (%)	2.0% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-90%)	-25.5% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-228%)	-3.7% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-119%)	-21.8% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-209%)	16.5% Fair ↓ Fair Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-17%)	23.6% Good ↑ Good Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+18%)	27.0% Excellent ↑ Excellent Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+35%)	18.3% Good ↓ Good Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-8%)	10.4% Caution ↓ Caution Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-48%)	31.7% Excellent ↓ Excellent Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+58%)	31.0% Excellent ↓ Excellent Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+55%)	32.9% Excellent ↓ Excellent Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+64%)	36.1% Excellent ↓ Excellent Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+80%)	41.3% Excellent ↑ Excellent Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+107%)	43.3% Excellent ↑ Excellent Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+116%)	36.0% Excellent ↑ Excellent Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+80%)	36.8% Excellent ↑ Excellent Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+84%)	30.7% Excellent Excellent Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+53%)	-10.5% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-153%)
Effective Tax Rate (%) (%)	54.3% Weak ↑ Weak Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.8% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	20.3% Good ↑ Good Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	18.6% Good ↑ Good Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	16.5% Good ↓ Good Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	21.6% Fair ↑ Fair Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	3.5% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	33.4% Weak ↑ Weak Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-128.5% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	27.1% Caution ↓ Caution Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	32.8% Weak ↓ Weak Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	34.9% Weak → Weak Stable Actual taxes paid relative to pre-tax income Optimal: 15-25%	38.0% Weak ↑ Weak Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	37.0% Weak ↑ Weak Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	27.3% Caution Caution Actual taxes paid relative to pre-tax income Optimal: 15-25%	30.8% Weak Weak Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	—	—
Profit Margin (%) (%)	1.9% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-87%)	-28.8% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-292%)	-7.6% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-150%)	-21.8% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-245%)	8.3% Caution ↓ Caution Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-45%)	11.4% Fair ↑ Fair Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-24%)	18.6% Good ↑ Good Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+24%)	5.6% Caution ↓ Caution Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-62%)	-4.9% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-133%)	18.4% Good → Good Stable Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+23%)	16.2% Good ↓ Good Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+8%)	18.2% Good ↓ Good Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+21%)	19.4% Good ↓ Good Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+29%)	21.0% Excellent → Excellent Stable Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+40%)	27.2% Excellent ↑ Excellent Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+81%)	17.3% Good ↑ Good Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+15%)	15.9% Good ↑ Good Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+6%)	9.2% Caution Caution Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-39%)	-89.5% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-696%)
FCF Margin (%) (%)	8.3% Caution ↓ Caution Declining Free cash flow as a percentage of revenue Optimal: > 10%	11.3% Fair ↓ Fair Declining Free cash flow as a percentage of revenue Optimal: > 10%	14.9% Fair ↓ Fair Declining Free cash flow as a percentage of revenue Optimal: > 10%	9.8% Caution ↓ Caution Declining Free cash flow as a percentage of revenue Optimal: > 10%	19.9% Good ↓ Good Declining Free cash flow as a percentage of revenue Optimal: > 10%	21.9% Excellent ↓ Excellent Declining Free cash flow as a percentage of revenue Optimal: > 10%	27.9% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	23.0% Excellent Excellent Free cash flow as a percentage of revenue Optimal: > 10%	21.7% Excellent Excellent Free cash flow as a percentage of revenue Optimal: > 10%	—	—	—	—	22.8% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	25.0% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	16.4% Good ↑ Good Improving Free cash flow as a percentage of revenue Optimal: > 10%	17.0% Good ↑ Good Improving Free cash flow as a percentage of revenue Optimal: > 10%	13.6% Fair Fair Free cash flow as a percentage of revenue Optimal: > 10%	14.5% Fair Fair Free cash flow as a percentage of revenue Optimal: > 10%
FCF / Net Income (x)	4.25x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	-0.39x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-1.97x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-0.45x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	2.41x Excellent → Excellent Stable Free cash flow relative to reported net income Optimal: > 1x	1.92x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	1.50x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	4.09x Excellent Excellent Free cash flow relative to reported net income Optimal: > 1x	-4.43x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	—	—	—	—	1.08x Fair ↑ Fair Improving Free cash flow relative to reported net income Optimal: > 1x	0.92x Caution ↓ Caution Declining Free cash flow relative to reported net income Optimal: > 1x	0.95x Caution ↑ Caution Improving Free cash flow relative to reported net income Optimal: > 1x	1.07x Fair ↑ Fair Improving Free cash flow relative to reported net income Optimal: > 1x	1.47x Good Good Free cash flow relative to reported net income Optimal: > 1x	-0.16x Weak Weak Free cash flow relative to reported net income Optimal: > 1x

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗
Return on Invested Capital (%)	0.5% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-13.8% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-1.4% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-6.2% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	6.4% Caution ↓ Caution Declining Return earned on debt + equity capital invested Optimal: > 10%	7.6% Fair ↓ Fair Declining Return earned on debt + equity capital invested Optimal: > 10%	11.5% Good ↑ Good Improving Return earned on debt + equity capital invested Optimal: > 10%	5.1% Caution ↓ Caution Declining Return earned on debt + equity capital invested Optimal: > 10%	8.4% Fair ↓ Fair Declining Return earned on debt + equity capital invested Optimal: > 10%	18.9% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	10.1% Good → Good Stable Return earned on debt + equity capital invested Optimal: > 10%	10.6% Good → Good Stable Return earned on debt + equity capital invested Optimal: > 10%	9.8% Fair ↓ Fair Declining Return earned on debt + equity capital invested Optimal: > 10%	10.1% Good ↓ Good Declining Return earned on debt + equity capital invested Optimal: > 10%	12.2% Good → Good Stable Return earned on debt + equity capital invested Optimal: > 10%	9.6% Fair ↓ Fair Declining Return earned on debt + equity capital invested Optimal: > 10%	10.4% Good Good Return earned on debt + equity capital invested Optimal: > 10%	15.1% Excellent Excellent Return earned on debt + equity capital invested Optimal: > 10%	—
Return on Capital (%) (%)	0.7% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-9.6% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-1.3% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-5.5% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	5.8% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	7.4% Fair ↑ Fair Improving Operating profit relative to total assets Optimal: > 10%	8.9% Fair ↑ Fair Improving Operating profit relative to total assets Optimal: > 10%	5.9% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	3.2% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	13.1% Good → Good Stable Operating profit relative to total assets Optimal: > 10%	12.5% Good ↓ Good Declining Operating profit relative to total assets Optimal: > 10%	12.9% Good ↓ Good Declining Operating profit relative to total assets Optimal: > 10%	13.3% Good → Good Stable Operating profit relative to total assets Optimal: > 10%	14.3% Good ↑ Good Improving Operating profit relative to total assets Optimal: > 10%	15.1% Excellent ↑ Excellent Improving Operating profit relative to total assets Optimal: > 10%	12.3% Good ↑ Good Improving Operating profit relative to total assets Optimal: > 10%	11.6% Good Good Operating profit relative to total assets Optimal: > 10%	10.1% Good Good Operating profit relative to total assets Optimal: > 10%	—
Return on Common Equity (%) (%)	2.0% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-83%)	-33.2% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-377%)	-6.9% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-158%)	-15.7% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-230%)	8.7% Caution ↓ Caution Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-28%)	11.6% Fair ↑ Fair Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: At sector avg	20.9% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+74%)	7.1% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-41%)	-7.3% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-161%)	—	19.0% Good ↑ Good Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+58%)	20.3% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+69%)	17.3% Good ↑ Good Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+45%)	15.0% Fair ↑ Fair Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+25%)	17.4% Good ↑ Good Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+45%)	10.5% Fair ↑ Fair Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-13%)	8.9% Caution Caution Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-26%)	5.7% Caution Caution Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-52%)	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗
Debt to Equity (x)	0.91x Fair ↓ Fair Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+13%)	1.16x Caution ↑ Caution Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+45%)	0.97x Fair ↓ Fair Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+21%)	1.04x Caution ↓ Caution Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+30%)	1.27x Caution ↓ Caution Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+59%)	1.47x Caution ↓ Caution Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+84%)	1.56x Weak ↓ Weak Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+95%)	2.03x Weak ↓ Weak Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+154%)	3.21x Weak ↑ Weak Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+301%)	—	1.42x Caution ↑ Caution Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+77%)	1.27x Caution ↑ Caution Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+59%)	1.05x Caution ↑ Caution Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+31%)	0.83x Fair ↑ Fair Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: At sector avg	0.65x Fair ↑ Fair Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-19%)	0.58x Good Good Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-27%)	0.56x Good Good Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-30%)	—	—
Interest Coverage (x)	—	—	-0.70x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-4.15x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	3.18x Fair ↓ Fair Declining Operating income divided by interest expense Optimal: > 5x	3.88x Fair ↑ Fair Improving Operating income divided by interest expense Optimal: > 5x	4.44x Fair ↑ Fair Improving Operating income divided by interest expense Optimal: > 5x	2.65x Caution ↓ Caution Declining Operating income divided by interest expense Optimal: > 5x	1.50x Caution ↓ Caution Declining Operating income divided by interest expense Optimal: > 5x	5.83x Good ↓ Good Declining Operating income divided by interest expense Optimal: > 5x	6.02x Good ↓ Good Declining Operating income divided by interest expense Optimal: > 5x	6.28x Good ↓ Good Declining Operating income divided by interest expense Optimal: > 5x	6.53x Good ↓ Good Declining Operating income divided by interest expense Optimal: > 5x	7.48x Good ↑ Good Improving Operating income divided by interest expense Optimal: > 5x	8.67x Good ↑ Good Improving Operating income divided by interest expense Optimal: > 5x	6.70x Good ↑ Good Improving Operating income divided by interest expense Optimal: > 5x	5.14x Good Good Operating income divided by interest expense Optimal: > 5x	4.13x Fair Fair Operating income divided by interest expense Optimal: > 5x	—
Net Debt (USD)	$28.00B	$34.19B	$39.89B	$45.27B	$10.85B	$13.31B	$13.87B	$16.06B	$7.48B	$7.62B	$7.34B	$6.74B	$6.09B	$4.04B	$3.20B	$3.15B	$2.87B	$-100.00M	$-209.00M
Debt / EBITDA (x)	5.07x Weak ↑ Weak Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-13.19x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	6.78x Weak ↑ Weak Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-276.83x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	4.11x Weak → Weak Stable Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	3.98x Caution ↓ Caution Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	3.54x Caution ↓ Caution Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	5.12x Weak ↓ Weak Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	14.18x Weak ↑ Weak Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	3.33x Caution ↑ Caution Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	3.34x Caution ↑ Caution Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	2.97x Fair ↑ Fair Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	2.86x Fair ↑ Fair Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	2.66x Fair ↑ Fair Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	2.21x Fair ↓ Fair Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	2.42x Fair Fair Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	2.45x Fair Fair Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—

📊 What does each share earn? 6 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗
Revenue per Share (USD)	$15.07	$16.05	$16.96	$17.43	$20.73	—	—	—	—	—	—	—	$7.75	$5.97	$5.20	$4.44	—	—	—
Basic EPS, GAAP (USD)	$0.29	$-4.62	$-1.28	$-3.82	$1.55	—	—	—	—	—	—	—	$1.50	$1.25	$1.41	$0.77	$0.64	$0.49	$-0.12
Free Cash Flow per Share (USD)	$1.25	$1.81	$2.53	$1.71	$4.12	—	—	—	—	—	—	—	—	$1.36	$1.30	$0.73	—	—	—
Book Value per Share (USD)	$14.48	$13.87	$18.54	$19.38	$68.63	—	—	—	—	—	—	—	$8.68	$8.37	$8.13	$7.32	—	—	—
Tangible Book Value per Share (USD)	$-7.17	$-9.75	$-11.49	$-13.30	$-45.15	—	—	—	—	—	—	—	$-3.80	$-0.96	$-0.43	$-0.96	—	—	—
Basic Weighted Avg Shares (shares)	2.48B	2.45B	2.44B	1.94B	588.00M	—	—	—	—	—	—	—	714.00M	752.00M	802.00M	850.00M	—	—	—

🏦 How resilient is the balance sheet? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗
Working Capital (USD)	$706.00M	$-1.73B	$-1.11B	$-1.02B	$3.81B	$3.05B	$1.98B	$234.00M	$8.12B	$941.00M	$1.02B	$-113.00M	$1.12B	$1.78B	$1.69B	$950.00M	$888.00M	$39.00M	—
LT Debt (USD)	$32.57B	$39.51B	$43.67B	$49.00B	$14.76B	$15.40B	$15.42B	$17.05B	$14.79B	$7.92B	$7.74B	$7.11B	$6.50B	$5.24B	$4.25B	$3.62B	$3.50B	—	—
Total Equity (USD)	$35.92B	$34.04B	$45.23B	$47.09B	$11.60B	$10.46B	$9.89B	$8.39B	$4.61B	—	$5.45B	$5.60B	$6.20B	$6.29B	$6.52B	$6.22B	$6.20B	$5.54B	—

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗
Sales/Revenue/Turnover (USD)	$37.30B	$39.32B	$41.32B	$33.82B	$12.19B	$10.67B	$11.14B	$10.55B	$6.87B	$6.50B	$6.39B	$6.26B	$5.54B	$4.49B	$4.17B	$3.77B	$3.46B	$3.44B	$76.00M
Depreciation Expense (USD)	$5.68B	$7.04B	$7.99B	$7.19B	$1.58B	$1.36B	$1.35B	$1.40B	$330.00M	$322.00M	$330.00M	$329.00M	$276.00M	$117.00M	$119.00M	$132.00M	$155.00M	$232.00M	$68.00M
Net Income, GAAP (USD)	$727.00M	$-11.31B	$-3.13B	$-7.37B	$1.01B	$1.22B	$2.07B	$594.00M	$-337.00M	$1.19B	$1.03B	$1.14B	$1.07B	$943.00M	$1.13B	$653.00M	$549.00M	$317.00M	$-68.00M
Operating Cash Flow (USD)	$4.32B	$5.38B	$7.48B	$4.30B	$2.80B	$2.74B	$3.40B	$2.58B	$1.63B	—	—	—	—	$1.10B	$1.10B	$668.00M	$642.00M	$569.00M	$58.00M

Warner Bros. Discovery, Inc.

Analytical Summary

19-Year Financial Trajectory

Health Breakdown

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Peer Comparison

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