Warner Bros. Discovery (WBD) Net Margin (2009 - 2026)
Warner Bros. Discovery (WBD) posted Net Margin of 32.68% for Q1 2026, down 1151.53% on a QoQ basis from 2.61% in Q4 2025, and down 2768.0% year-over-year from 1.22% in Q1 2025.
Warner Bros. Discovery (WBD) Net Margin (2009 - 2026) Analysis & Trends
Warner Bros. Discovery's Net Margin history runs 17 years deep, the most recent figure standing at 32.68% for Q1 2026.
- Quarterly Net Margin fell 2768.0% year-over-year to 32.68% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 4.59% (up 2404.0% YoY) and the FY2025 annual result came in at 2.01%, up 3121.0% from the prior year.
- Net Margin was 32.68% for Q1 2026 at Warner Bros. Discovery, down from 2.61% in the prior quarter.
- Across five years, Net Margin topped out at 16.18% in Q2 2025 and bottomed at 103.24% in Q2 2024.
- A 5-year average of 13.81% and a median of 6.38% in 2024 frame the typical range for Net Margin.
- Annual changes were most pronounced in 2024 — Net Margin tumbled 9146 bps — and 2025, when it surged 11943 bps.
- Warner Bros. Discovery's Net Margin stood at 18.89% in 2022, then soared by 80 bps to 3.81% in 2023, then tumbled by 67 bps to 6.38% in 2024, then soared by 59 bps to 2.61% in 2025, then sank by 1152 bps to 32.68% in 2026.
- Business Quant data shows WBD's Net Margin at 32.68% in Q1 2026, 2.61% in Q4 2025, and 1.58% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Netflix | 286.85 Bn | 277.73 Bn | 6.52 Bn | 27.08% |
| 2 | Walt Disney | 176.45 Bn | 177.38 Bn | 10.75 Bn | 9.79% |
| 3 | Warner Bros. Discovery | 71.03 Bn | 68.89 Bn | 4.25 Bn | -32.68% |
| 4 | Live Nation Entertainment | 40.94 Bn | 32.48 Bn | 1.31 Bn | -11.35% |
| 5 | Liberty Media | 29.72 Bn | 29.06 Bn | 298.00 Mn | 7.45% |
| 6 | Roku | 20.90 Bn | 18.52 Bn | 564.94 Mn | 6.86% |
| 7 | TKO Group Holdings | 20.86 Bn | 19.17 Bn | 862.52 Mn | 15.54% |
| 8 | Fox | 20.85 Bn | 17.36 Bn | - | 4.16% |
| 9 | News | 16.48 Bn | 15.01 Bn | - | - |
| 10 | Sirius Xm Holdings | 10.04 Bn | 9.96 Bn | 2.09 Bn | 11.72% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -32.68% |
| Dec 31, 2025 | -2.61% |
| Sep 30, 2025 | -1.58% |
| Jun 30, 2025 | 16.18% |
| Mar 31, 2025 | -5.00% |
| Dec 31, 2024 | -6.38% |
| Sep 30, 2024 | 1.47% |
| Jun 30, 2024 | -103.24% |
| Mar 31, 2024 | -9.59% |
| Dec 31, 2023 | -3.81% |
| Sep 30, 2023 | -4.08% |
| Jun 30, 2023 | -11.78% |
| Mar 31, 2023 | -9.91% |
| Dec 31, 2022 | -18.89% |
| Sep 30, 2022 | -23.26% |
| Jun 30, 2022 | -34.68% |
| Mar 31, 2022 | 15.04% |
| Dec 31, 2021 | 2.86% |
| Sep 30, 2021 | 6.25% |
| Jun 30, 2021 | 23.45% |