Warner Bros. Discovery (WBD) Gross Margin (2009 - 2025)

Warner Bros. Discovery (WBD) has 17 years of Gross Margin data on file, last reported at 44.0% in FY2025.

• 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 FY2025 stood at 44.0%, up from 41.58% in the prior year.
• Across five years, Gross Margin topped out at 62.1% in FY2021 and bottomed at 39.55% in FY2022.
• The 5-year median for Gross Margin is 41.58% (2024), against an average of 45.58%.
• The widest annual swing landed in 2022, when Gross Margin tumbled 2255 bps; it then jumped 242 bps in 2025.
• A 5-year view of Gross Margin shows it stood at 62.1% in 2021, then sank by 36 bps to 39.55% in 2022, then increased by 3 bps to 40.65% in 2023, then climbed by 2 bps to 41.58% in 2024, then rose by 6 bps to 44.0% in 2025.
• The last three Gross Margin figures came in at 44.0% (FY2025), 41.58% (FY2024), and 40.65% (FY2023), per Business Quant data.

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