Warner Bros. Discovery (WBD) Gross Margin (2009 - 2026)
Warner Bros. Discovery posted quarterly Gross Margin of 47.79% for Q1 2026, up 493.0% year-on-year from 8.06% in Q1 2025, and up 6.7% on a QoQ basis from 44.79% in Q4 2025.
Warner Bros. Discovery (WBD) has 18 years of Gross Margin data on file, last reported at 47.79% in Q1 2026.
- For the quarter ending Q1 2026, Gross Margin rose 493.0% year-over-year to 47.79%; the trailing twelve-month figure through Mar 2026 stood at 45.18% (up 267.0% YoY), and the FY2025 full-year result was 44.0%, up 242.0% from the prior year.
- Gross Margin for Q1 2026 stood at 47.79%, up from 44.79% in the prior quarter.
- Across five years, Gross Margin topped out at 60.87% in Q1 2022 and bottomed at 32.58% in Q2 2022.
- The 5-year median for Gross Margin is 42.72% (2022), against an average of 42.73%.
- The widest annual swing landed in 2022, when Gross Margin sank 3296 bps; it then soared 584 bps in 2023.
- A 5-year view of Gross Margin shows it stood at 36.83% in 2022, then advanced by 16 bps to 42.67% in 2023, then grew by 5 bps to 44.88% in 2024, then decreased by 0 bps to 44.79% in 2025, then rose 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.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Netflix | 362.63 Bn | 350.34 Bn | 11.41 Bn | 93.12% |
| 2 | Walt Disney | 181.67 Bn | 188.27 Bn | 23.68 Bn | 94.10% |
| 3 | Warner Bros. Discovery | 67.91 Bn | 65.77 Bn | 4.25 Bn | 47.79% |
| 4 | Live Nation Entertainment | 39.56 Bn | 31.10 Bn | 1.31 Bn | 34.66% |
| 5 | Fox | 26.01 Bn | 22.51 Bn | - | - |
| 6 | Liberty Media | 21.20 Bn | 21.87 Bn | 298.00 Mn | 41.91% |
| 7 | Roku | 19.03 Bn | 16.65 Bn | 564.94 Mn | 45.24% |
| 8 | News | 16.98 Bn | 15.50 Bn | - | - |
| 9 | TKO Group Holdings | 16.11 Bn | 14.42 Bn | 862.52 Mn | 54.01% |
| 10 | Paramount Skydance | 12.11 Bn | 10.03 Bn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| 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% |
| Jun 30, 2021 | 65.55% |
| Mar 31, 2021 | 65.29% |
| Dec 31, 2020 | 60.88% |
| Sep 30, 2020 | 60.84% |
| Jun 30, 2020 | 68.12% |
| Mar 31, 2020 | 65.78% |
| Dec 31, 2019 | 63.92% |
| Sep 30, 2019 | 65.87% |
| Jun 30, 2019 | 67.49% |
| Mar 31, 2019 | 65.64% |
| Dec 31, 2018 | 66.32% |
| Sep 30, 2018 | 63.97% |
| Jun 30, 2018 | 65.03% |
| Mar 31, 2018 | 54.05% |
| Dec 31, 2017 | 60.03% |
| Sep 30, 2017 | 59.42% |
| Jun 30, 2017 | 63.67% |
| Mar 31, 2017 | 62.37% |
| Dec 31, 2016 | 61.42% |
| Sep 30, 2016 | 61.95% |
| Jun 30, 2016 | 64.70% |
| Mar 31, 2016 | 62.08% |
| Dec 31, 2015 | 61.12% |
| Sep 30, 2015 | 63.13% |
| Jun 30, 2015 | 65.90% |
| Mar 31, 2015 | 63.24% |
| Dec 31, 2014 | 64.32% |
| Sep 30, 2014 | 66.26% |
| Jun 30, 2014 | 68.01% |
| Mar 31, 2014 | 65.84% |
| Dec 31, 2013 | 69.10% |
| Sep 30, 2013 | 68.36% |
| Jun 30, 2013 | 70.21% |
| Mar 31, 2013 | 70.42% |
| Dec 31, 2012 | 72.67% |
| Sep 30, 2012 | 72.49% |
| Jun 30, 2012 | 73.53% |
| Mar 31, 2012 | 72.72% |
| Dec 31, 2011 | 70.16% |
| Sep 30, 2011 | 69.63% |
| Jun 30, 2011 | 72.52% |
| Mar 31, 2011 | 70.77% |
| Dec 31, 2010 | 71.33% |
| Sep 30, 2010 | 71.81% |
| Jun 30, 2010 | 73.62% |
| Mar 31, 2010 | 69.28% |
| Dec 31, 2009 | 124.62% |
| Sep 30, 2009 | 69.91% |
| Jun 30, 2009 | 70.83% |
| Mar 31, 2009 | 69.08% |