Warner Music (WMG) Operating Leases (2019 - 2026)
Warner Music (WMG) posted quarterly Operating Leases of $174.0 million for Q1 2026, down 19.44% year-over-year from $216.0 million in Q1 2025, and down 7.45% quarter-over-quarter from $188.0 million in Q4 2025.
Warner Music (WMG) Operating Leases (2019 - 2026) Analysis & Trends
Warner Music (WMG) has reported Operating Leases for 8 consecutive years, with $174.0 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Operating Leases fell 19.44% year-over-year to $174.0 million; the TTM figure through Mar 2026 stood at $174.0 million (down 19.44% YoY), while the FY2025 annual figure was $200.0 million, down 26.74% from the prior year.
- Operating Leases eased to $174.0 million in Q1 2026 per WMG's latest filing, from $188.0 million in the prior quarter.
- Across five years, Operating Leases topped out at $296.0 million in Q3 2023 and bottomed at $174.0 million in Q1 2026.
- Historically, Operating Leases has averaged $240.6 million across 5 years, with a median of $239.0 million in 2024.
- Annual changes were most pronounced in 2023 — Operating Leases advanced 6.41% — and 2025, when it decreased 26.74%.
- Warner Music's Operating Leases stood at $234.0 million in 2022, then rose by 6.41% to $249.0 million in 2023, then fell by 10.84% to $222.0 million in 2024, then fell by 15.32% to $188.0 million in 2025, then fell by 7.45% to $174.0 million in 2026.
- Business Quant data shows WMG's Operating Leases at $174.0 million in Q1 2026, $188.0 million in Q4 2025, and $200.0 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Netflix | 325.80 Bn | 316.67 Bn | 6.52 Bn |
| 2 | Walt Disney | 180.88 Bn | 175.70 Bn | 11.57 Bn |
| 3 | Warner Bros. Discovery | 71.60 Bn | 68.23 Bn | 4.10 Bn |
| 4 | Live Nation Entertainment | 41.97 Bn | 32.90 Bn | 1.94 Bn |
| 5 | Fox | 26.42 Bn | 22.22 Bn | - |
| 6 | Liberty Media | 23.42 Bn | 21.96 Bn | 329.00 Mn |
| 7 | Roku | 23.35 Bn | 20.80 Bn | 673.70 Mn |
| 8 | News | 18.65 Bn | 16.55 Bn | - |
| 9 | TKO Group Holdings | 14.38 Bn | 12.83 Bn | 990.96 Mn |
| 10 | Warner Music | 9.85 Bn | 9.23 Bn | 854.00 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 165.00 Mn |
| Mar 31, 2026 | 174.00 Mn |
| Dec 31, 2025 | 188.00 Mn |
| Sep 30, 2025 | 200.00 Mn |
| Jun 30, 2025 | 212.00 Mn |
| Mar 31, 2025 | 216.00 Mn |
| Dec 31, 2024 | 222.00 Mn |
| Sep 30, 2024 | 273.00 Mn |
| Jun 30, 2024 | 232.00 Mn |
| Mar 31, 2024 | 239.00 Mn |
| Dec 31, 2023 | 249.00 Mn |
| Sep 30, 2023 | 296.00 Mn |
| Jun 30, 2023 | 264.00 Mn |
| Mar 31, 2023 | 247.00 Mn |
| Dec 31, 2022 | 234.00 Mn |
| Sep 30, 2022 | 281.00 Mn |
| Jun 30, 2022 | 294.00 Mn |
| Mar 31, 2022 | 269.00 Mn |
| Dec 31, 2021 | 318.00 Mn |
| Sep 30, 2021 | 287.00 Mn |