Warner Bros. Discovery (WBD) Gross Margin (2009 - 2026)
Warner Bros. Discovery's (WBD) quarterly Gross Margin came in at 47.79% in Q1 2026, up 493.0% YoY from 8.06% in Q1 2025, and up 6.7% on a QoQ basis from 44.79% in Q4 2025.
Warner Bros. Discovery (WBD) Gross Margin (2009 - 2026) Analysis & Trends
Warner Bros. Discovery (WBD) has 18 years of Gross Margin data on file, last reported at 47.79% in Q1 2026.
- Quarterly Gross Margin rose 493.0% year-over-year to 47.79% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 45.18% (up 267.0% YoY) and the FY2025 annual result came in at 44.0%, up 242.0% from the prior year.
- Gross Margin rose to 47.79% in Q1 2026, from 44.79% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 60.87% in Q1 2022 to a low of 32.58% in Q2 2022.
- A 5-year average of 42.73% and a median of 42.72% in 2022 frame the typical range for Gross Margin.
- Annual changes were most pronounced in 2022 — Gross Margin tumbled 3296 bps — and 2023, when it soared 584 bps.
- Tracing WBD's Gross Margin over 5 years: stood at 36.83% in 2022, then gained by 16 bps to 42.67% in 2023, then climbed by 5 bps to 44.88% in 2024, then retreated by 0 bps to 44.79% in 2025, then increased by 7 bps to 47.79% in 2026.
- The last three Gross Margin figures came in at 47.79% (Q1 2026), 44.79% (Q4 2025), and 49.54% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Netflix | 325.80 Bn | 316.67 Bn | 6.52 Bn | 51.93% |
| 2 | Walt Disney | 180.88 Bn | 175.70 Bn | 11.57 Bn | 45.84% |
| 3 | Warner Bros. Discovery | 71.60 Bn | 68.23 Bn | 4.10 Bn | 46.99% |
| 4 | Live Nation Entertainment | 41.97 Bn | 32.90 Bn | 1.94 Bn | 25.34% |
| 5 | Fox | 26.42 Bn | 22.22 Bn | - | - |
| 6 | Liberty Media | 23.42 Bn | 21.96 Bn | 329.00 Mn | 35.22% |
| 7 | Roku | 23.35 Bn | 20.80 Bn | 673.70 Mn | 49.73% |
| 8 | News | 18.65 Bn | 16.55 Bn | - | - |
| 9 | TKO Group Holdings | 14.38 Bn | 12.83 Bn | 990.96 Mn | 64.05% |
| 10 | Paramount Skydance | 11.45 Bn | 8.18 Bn | -2.08 Bn | 35.21% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 46.99% |
| Mar 31, 2026 | 47.79% |
| Dec 31, 2025 | 44.79% |
| Sep 30, 2025 | 49.54% |
| Jun 30, 2025 | 39.19% |
| Mar 31, 2025 | 42.86% |
| Dec 31, 2024 | 44.88% |
| Sep 30, 2024 | 46.16% |
| Jun 30, 2024 | 36.13% |
| Mar 31, 2024 | 39.16% |
| Dec 31, 2023 | 42.67% |
| Sep 30, 2023 | 46.80% |
| Jun 30, 2023 | 35.93% |
| Mar 31, 2023 | 37.52% |
| Dec 31, 2022 | 36.83% |
| Sep 30, 2022 | 42.72% |
| Jun 30, 2022 | 32.58% |
| Mar 31, 2022 | 60.87% |
| Dec 31, 2021 | 66.52% |
| Sep 30, 2021 | 51.46% |