Warner Bros. Discovery (WBD) Free Cash Flow (2009 - 2026)
Warner Bros. Discovery's (WBD) quarterly Free Cash Flow came in at $572.0 million in Q2 2026, down 18.52% on a YoY basis from $702.0 million in Q2 2025, and up 220.17% quarter-over-quarter from -$476.0 million in Q1 2026.
Analysis
Warner Bros. Discovery (WBD) Free Cash Flow (2009 - 2026) Analysis & Trends
Warner Bros. Discovery (WBD) has reported Free Cash Flow for 18 consecutive years, with $572.0 million the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Free Cash Flow fell 18.52% year-over-year to $572.0 million; the trailing twelve-month figure through Jun 2026 stood at $2.2 billion (down 46.37% YoY), and the FY2025 full-year result was $3.1 billion, down 30.25% from the prior year.
- Free Cash Flow climbed to $572.0 million in Q2 2026 per WBD's latest filing, from -$476.0 million in the prior quarter.
- Across five years, Free Cash Flow topped out at $3.3 billion in Q4 2023 and bottomed at -$930.0 million in Q1 2023.
- Historically, Free Cash Flow has averaged $949.4 million across 5 years, with a median of $701.5 million in 2025.
- The widest YoY moves for Free Cash Flow: up 1172.4% in 2023, down 490.76% in 2023.
- Over 5 years, Free Cash Flow stood at $2.5 billion in 2022, then surged by 33.36% to $3.3 billion in 2023, then dropped by 26.62% to $2.4 billion in 2024, then plunged by 43.06% to $1.4 billion in 2025, then tumbled by 58.64% to $572.0 million in 2026.
- According to Business Quant data, Free Cash Flow over the past three periods registered $572.0 million, -$476.0 million, and $1.4 billion for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Free Cash Flow (Qtr) |
|---|---|---|---|---|---|
| 1 | Warner Bros. Discovery | 70.72 Bn | 67.35 Bn | 4.10 Bn | 572.00 Mn |
| 2 | Fox | 25.12 Bn | 20.92 Bn | - | 726.00 Mn |
| 3 | Paramount Skydance | 11.97 Bn | 8.70 Bn | -2.08 Bn | -136.00 Mn |
| 4 | Versant Media | 5.38 Bn | 3.90 Bn | 994.00 Mn | - |
| 5 | Nexstar Media | 5.15 Bn | 4.94 Bn | 1.06 Bn | 253.00 Mn |
| 6 | Newsmax | 1.39 Bn | 1.34 Bn | 23.33 Mn | - |
| 7 | AMC Global Media | 520.06 Mn | 56.06 Mn | 258.71 Mn | 43.27 Mn |
| 8 | Gray Media | 470.89 Mn | 294.89 Mn | 270.00 Mn | 106.00 Mn |
| 9 | Starz Entertainment | 435.29 Mn | 333.19 Mn | - | - |
| 10 | E.W. Scripps | 296.07 Mn | 283.02 Mn | 196.33 Mn | -2.94 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 572.00 Mn |
| Mar 31, 2026 | -476.00 Mn |
| Dec 31, 2025 | 1.38 Bn |
| Sep 30, 2025 | 701.00 Mn |
| Jun 30, 2025 | 702.00 Mn |
| Mar 31, 2025 | 302.00 Mn |
| Dec 31, 2024 | 2.43 Bn |
| Sep 30, 2024 | 632.00 Mn |
| Jun 30, 2024 | 976.00 Mn |
| Mar 31, 2024 | 390.00 Mn |
| Dec 31, 2023 | 3.31 Bn |
| Sep 30, 2023 | 2.06 Bn |
| Jun 30, 2023 | 1.72 Bn |
| Mar 31, 2023 | -930.00 Mn |
| Dec 31, 2022 | 2.48 Bn |
| Sep 30, 2022 | -192.00 Mn |
| Jun 30, 2022 | 789.00 Mn |
| Mar 31, 2022 | 238.00 Mn |
| Dec 31, 2021 | 784.00 Mn |
| Sep 30, 2021 | 705.00 Mn |