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

Warner Bros. Discovery filings provide 17 years of Operating Margin readings, the most recent being 3.69% for Q4 2025.

  • On a quarterly basis, Operating Margin rose 207.0% to 3.69% in Q4 2025 year-over-year; TTM through Dec 2025 was 1.98%, a 2749.0% increase, with the full-year FY2025 number at 1.98%, up 2749.0% from a year prior.
  • Operating Margin hit 3.69% in Q4 2025 for Warner Bros. Discovery, down from 6.76% in the prior quarter.
  • In the past five years, Operating Margin ranged from a high of 25.44% in Q2 2021 to a low of 105.1% in Q2 2024.
  • Median Operating Margin over the past 5 years was 0.28% (2023), compared with a mean of 5.46%.
  • Biggest five-year swings in Operating Margin: plummeted -9635bps in 2024 and later skyrocketed 10321bps in 2025.
  • Warner Bros. Discovery's Operating Margin stood at 15.94% in 2021, then tumbled by -208bps to 17.21% in 2022, then soared by 90bps to 1.77% in 2023, then surged by 191bps to 1.62% in 2024, then surged by 128bps to 3.69% in 2025.
  • The last three reported values for Operating Margin were 3.69% (Q4 2025), 6.76% (Q3 2025), and 1.89% (Q2 2025) per Business Quant data.