Warner Bros. Discovery (WBD) Operating Margin (2009 - 2026)
Warner Bros. Discovery's Operating Margin was 2.72% in Q2 2026, up 4.60 percentage points from -1.89% a year earlier and up 30.48 percentage points from the prior quarter.
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Analysis
Warner Bros. Discovery (WBD) Operating Margin (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Warner Bros. Discovery's Operating Margin was -3.52% through Jun 30, 2026, down 4.10 percentage points year-over-year; for FY2025, it came in at 1.98%, up 27.49 percentage points from FY2024.
- Operating Margin shows a five-year change of -21.59 percentage points (FY2020 to FY2025).
- In earlier years, Operating Margin was -25.51% in FY2024 (-21.77 pp), -3.75% in FY2023 (+18.05 pp), -21.79% in FY2022 (-38.30 pp) and 16.50% in FY2021 (-7.06 pp).
- Quarterly Operating Margin has moved between -105.10% (Q2 2024) and 15.94% (Q4 2021) over five years.
- Compared with a year earlier, Operating Margin was higher in seven of the last eight quarters, with an average year-over-year change of +11.75 percentage points.
- The best year-over-year quarter for Operating Margin over five years was Q2 2025 (a gain of 103.21 percentage points); the worst was Q2 2024 (a drop of 96.35 percentage points).
- Per Business Quant data, WBD's Operating Margin in the three quarters before Q2 2026 was -27.76% (Q1 2026), 3.69% (Q4 2025) and 6.76% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Warner Bros. Discovery | 77.37 Bn | 63.04 Bn | 4.10 Bn | 2.72% |
| 2 | Fox | 26.93 Bn | 12.84 Bn | - | - |
| 3 | Omnicom | 20.34 Bn | 3.04 Bn | 1.30 Bn | 14.06% |
| 4 | News | 15.87 Bn | 8.07 Bn | - | - |
| 5 | Paramount Skydance | 11.07 Bn | 8.99 Bn | - | - |
| 6 | Pearson | 10.15 Bn | 7.29 Bn | - | - |
| 7 | New York Times | 10.00 Bn | 7.49 Bn | 394.61 Mn | 15.48% |
| 8 | Sirius Xm Holdings | 8.68 Bn | 8.26 Bn | 1.44 Bn | 21.85% |
| 9 | 36Kr Holdings | 5.97 Bn | 5.91 Bn | - | - |
| 10 | Wpp | 5.45 Bn | -6.35 Bn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 2.72% |
| Mar 31, 2026 | -27.76% |
| Dec 31, 2025 | 3.69% |
| Sep 30, 2025 | 6.76% |
| Jun 30, 2025 | -1.89% |
| Mar 31, 2025 | -0.41% |
| Dec 31, 2024 | 1.62% |
| Sep 30, 2024 | 2.92% |
| Jun 30, 2024 | -105.10% |
| Mar 31, 2024 | -2.68% |
| Dec 31, 2023 | -1.77% |
| Sep 30, 2023 | 0.97% |
| Jun 30, 2023 | -8.75% |
| Mar 31, 2023 | -5.21% |
| Dec 31, 2022 | -17.21% |
| Sep 30, 2022 | -22.29% |
| Jun 30, 2022 | -37.03% |
| Mar 31, 2022 | 11.17% |
| Dec 31, 2021 | 15.94% |
| Sep 30, 2021 | 10.44% |
API Access
Warner Bros. Discovery Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=WBD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "WBD", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=WBD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();