Warner Bros. Discovery (WBD) Gross Margin (2009 - 2026)
Warner Bros. Discovery's Gross Margin was 46.99% in Q2 2026, up 7.80 percentage points from 39.19% a year earlier but down 0.80 percentage points from the prior quarter.
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Analysis
Warner Bros. Discovery (WBD) Gross Margin (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Warner Bros. Discovery's Gross Margin was 47.25% through Jun 30, 2026, up 3.97 percentage points year-over-year; for FY2025, it came in at 44.00%, up 2.42 percentage points from FY2024.
- Gross Margin has now increased for three consecutive years, though with a five-year change of -19.83 percentage points (FY2020 to FY2025).
- In earlier years, Gross Margin was 41.58% in FY2024 (+0.94 pp), 40.65% in FY2023 (+1.09 pp), 39.55% in FY2022 (-22.55 pp) and 62.10% in FY2021 (-1.72 pp).
- Quarterly Gross Margin has moved between 32.58% (Q2 2022) and 66.52% (Q4 2021) over five years.
- Compared with a year earlier, Gross Margin was higher in six of the last eight quarters, with an average year-over-year change of +3.04 percentage points.
- The best year-over-year quarter for Gross Margin over five years was Q2 2026 (a gain of 7.80 percentage points); the worst was Q2 2022 (a drop of 32.96 percentage points).
- Per Business Quant data, WBD's Gross Margin in the three quarters before Q2 2026 was 47.79% (Q1 2026), 44.79% (Q4 2025) and 49.54% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Warner Bros. Discovery | 77.50 Bn | 63.16 Bn | 4.10 Bn | 46.99% |
| 2 | Fox | 27.18 Bn | 13.09 Bn | - | - |
| 3 | Omnicom | 20.60 Bn | 3.30 Bn | 1.30 Bn | 19.78% |
| 4 | News | 16.19 Bn | 8.39 Bn | - | - |
| 5 | Paramount Skydance | 11.39 Bn | 9.31 Bn | - | - |
| 6 | New York Times | 10.30 Bn | 7.79 Bn | 394.61 Mn | 51.76% |
| 7 | Pearson | 10.14 Bn | 7.28 Bn | - | - |
| 8 | Sirius Xm Holdings | 8.74 Bn | 8.32 Bn | 1.44 Bn | 66.57% |
| 9 | 36Kr Holdings | 6.25 Bn | 6.19 Bn | - | - |
| 10 | Wpp | 5.52 Bn | -6.28 Bn | - | - |
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% |
API Access
Warner Bros. Discovery Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=WBD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "WBD", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=WBD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();