Warner Bros. Discovery (WBD) Gross Margin (2009 - 2026)
Warner Bros. Discovery's (WBD) quarterly Gross Margin came in at 46.99% in Q2 2026, up 780.0% on a YoY basis from 5.34% in Q2 2025, and down 1.68% quarter-over-quarter from 47.79% in Q1 2026.
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Warner Bros. Discovery (WBD) Gross Margin (2009 - 2026) Analysis & Trends
Warner Bros. Discovery (WBD) has reported Gross Margin for 18 consecutive years, with 46.99% the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Gross Margin rose 780.0% year-over-year to 46.99%; the trailing twelve-month figure through Jun 2026 stood at 47.25% (up 397.0% YoY), and the FY2025 full-year result was 44.0%, up 242.0% from the prior year.
- Gross Margin retreated to 46.99% in Q2 2026 per WBD's latest filing, from 47.79% 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.
- Historically, Gross Margin has averaged 42.97% across 5 years, with a median of 42.79% in 2022.
- The sharpest annual moves came in 2022 and 2026: Gross Margin plunged 3296 bps in 2022, then surged 780 bps in 2026.
- Over 5 years, Gross Margin stood at 36.83% in 2022, then climbed by 16 bps to 42.67% in 2023, then increased by 5 bps to 44.88% in 2024, then slipped by 0 bps to 44.79% in 2025, then climbed by 5 bps to 46.99% in 2026.
- According to Business Quant data, Gross Margin over the past three periods registered 46.99%, 47.79%, and 44.79% for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Warner Bros. Discovery | 70.72 Bn | 67.35 Bn | 4.10 Bn | 46.99% |
| 2 | Fox | 25.12 Bn | 20.92 Bn | - | - |
| 3 | Paramount Skydance | 11.97 Bn | 8.70 Bn | -2.08 Bn | - |
| 4 | Versant Media | 5.38 Bn | 3.90 Bn | 994.00 Mn | 60.46% |
| 5 | Nexstar Media | 5.15 Bn | 4.94 Bn | 1.06 Bn | 53.39% |
| 6 | Newsmax | 1.39 Bn | 1.34 Bn | 23.33 Mn | 43.12% |
| 7 | AMC Global Media | 520.06 Mn | 56.06 Mn | 258.71 Mn | 47.25% |
| 8 | Gray Media | 470.89 Mn | 294.89 Mn | 270.00 Mn | 32.18% |
| 9 | Starz Entertainment | 435.29 Mn | 333.19 Mn | - | - |
| 10 | E.W. Scripps | 296.07 Mn | 283.02 Mn | 196.33 Mn | 40.03% |
Historic Data
Download Data
Historic 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% |