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Warner Bros. Discovery (WBD) Gross Margin (2016 - 2026)

Warner Bros. Discovery filings provide 17 years of Gross Margin readings, the most recent being 44.79% for Q4 2025.

  • On a quarterly basis, Gross Margin fell 9.0% to 44.79% in Q4 2025 year-over-year; TTM through Dec 2025 was 44.0%, a 242.0% increase, with the full-year FY2025 number at 44.0%, up 242.0% from a year prior.
  • Gross Margin hit 44.79% in Q4 2025 for Warner Bros. Discovery, down from 49.54% in the prior quarter.
  • In the past five years, Gross Margin ranged from a high of 66.52% in Q4 2021 to a low of 32.58% in Q2 2022.
  • Median Gross Margin over the past 5 years was 43.82% (2025), compared with a mean of 46.37%.
  • Biggest five-year swings in Gross Margin: crashed -3296bps in 2022 and later surged 584bps in 2023.
  • Warner Bros. Discovery's Gross Margin stood at 66.52% in 2021, then tumbled by -45bps to 36.83% in 2022, then rose by 16bps to 42.67% in 2023, then increased by 5bps to 44.88% in 2024, then fell by 0bps to 44.79% in 2025.
  • The last three reported values for Gross Margin were 44.79% (Q4 2025), 49.54% (Q3 2025), and 39.19% (Q2 2025) per Business Quant data.