Warner Bros. Discovery (WBD) Operating Margin (2009 - 2026)

Warner Bros. Discovery has reported Operating Margin for 18 years, with the latest figure at 27.76% in Q1 2026.

• For the quarter ending Q1 2026, Operating Margin fell 2735.0% year-over-year to 27.76%; the trailing twelve-month figure through Mar 2026 stood at 4.55% (up 2101.0% YoY), and the FY2025 full-year result was 1.98%, up 2749.0% from the prior year.
• Operating Margin for Q1 2026 stood at 27.76%, down from 3.69% in the prior quarter.
• The five-year high for Operating Margin was 11.17% in Q1 2022, with the low at 105.1% in Q2 2024.
• Historically, Operating Margin has averaged 11.94% across 5 years, with a median of 1.89% in 2025.
• Annual changes were most pronounced in 2024 — Operating Margin slumped 9635 bps — and 2025, when it surged 10321 bps.
• Warner Bros. Discovery's Operating Margin stood at 17.21% in 2022, then jumped by 90 bps to 1.77% in 2023, then soared by 191 bps to 1.62% in 2024, then soared by 128 bps to 3.69% in 2025, then slumped by 853 bps to 27.76% in 2026.
• The last three Operating Margin figures came in at 27.76% (Q1 2026), 3.69% (Q4 2025), and 6.76% (Q3 2025), per Business Quant data.