Warner Music Ratios (2009-2025) | WMG

Frequency:

Period:

1Y 3Y 5Y 7Y 10Y All

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Ratios	Mar2009	Sep2009	Jun2010	Sep2010	Dec2010	Mar2011	Jun2011	Dec2011	Mar2012	Jun2012	Sep2012	Dec2012	Mar2013	Jun2013	Sep2013	Dec2013	Mar2014	Jun2014	Sep2014	Dec2014	Mar2015	Jun2015	Sep2015	Dec2015	Mar2016	Jun2016	Sep2016	Dec2016	Mar2017	Jun2017	Sep2017	Dec2017	Mar2018	Jun2018	Sep2018	Dec2018	Mar2019	Jun2019	Sep2019	Dec2019	Mar2020	Jun2020	Sep2020	Dec2020	Mar2021	Jun2021	Sep2021	Dec2021	Mar2022	Jun2022	Sep2022	Dec2022	Mar2023	Jun2023	Sep2023	Dec2023	Mar2024	Jun2024	Sep2024	Dec2024	Mar2025	Jun2025	Sep2025	Dec2025
Profitability
Gross Margin	49.48%		45.86%	48.01%	44.60%	47.51%	44.83%	45.81%	48.96%	45.78%	49.66%	47.07%	51.56%	44.34%	49.08%	45.89%	51.15%	47.08%	49.03%	46.32%	53.03%	47.46%	50.00%	47.11%	49.80%	44.76%	48.16%	45.91%	49.70%	43.40%	45.37%	45.55%	49.33%	44.57%	43.89%	47.96%	48.72%	45.46%	43.15%	47.05%	50.05%	47.82%	46.18%	48.61%	50.16%	49.18%	45.35%	49.32%	49.35%	46.51%	46.63%	48.86%	48.46%	45.65%	46.72%	49.66%	47.05%	46.59%	47.61%	46.34%	46.70%	45.94%	44.65%	46.36%
EBT Margin	-8.64%		-7.06%	-3.86%	-2.57%	-4.68%	-4.51%	-2.58%	-5.14%	-6.61%	-1.78%	-11.70%	0.59%	-6.49%	-12.57%	-5.40%	-9.49%	-25.38%	-2.98%	-3.86%	1.92%	-5.49%	-2.27%	2.94%	3.62%	-0.37%	-0.95%	4.47%	2.79%	-0.98%	-6.22%	5.45%	1.87%	39.87%	-1.44%	11.31%	10.55%	0.19%	1.25%	10.11%	-8.03%	-46.34%	-1.78%	10.04%	13.44%	7.61%	3.78%	16.29%	9.16%	11.45%	12.49%	11.56%	4.15%	10.68%	13.37%	15.16%	7.63%	11.00%	3.13%	19.81%	4.38%	-0.65%	5.67%	13.37%
EBIT Margin	2.24%		-0.15%	2.66%	3.47%	2.34%	1.46%	5.03%	3.53%	1.08%	5.61%	6.63%	8.44%	1.21%	-5.37%	1.84%	-0.77%	-1.90%	3.11%	2.77%	6.50%	3.24%	4.93%	7.30%	6.98%	5.55%	6.54%	10.25%	9.45%	5.56%	-0.11%	8.61%	8.62%	2.92%	1.54%	12.22%	11.19%	5.48%	2.58%	13.14%	-4.58%	-42.87%	7.82%	14.68%	12.08%	12.09%	7.27%	14.81%	12.06%	10.20%	10.89%	17.81%	8.86%	12.08%	13.37%	20.25%	7.97%	13.32%	8.77%	12.85%	11.32%	10.01%	7.66%	15.65%
EBITDA Margin	2.24%		-0.15%	2.66%	3.47%	2.34%	1.46%	5.03%	3.53%	1.08%	5.61%	6.63%	8.44%	1.21%	-5.37%	3.31%	1.23%	-0.13%	5.19%	4.46%	8.57%	5.21%	6.53%	8.83%	8.59%	7.03%	8.09%	11.56%	11.03%	6.98%	1.20%	9.76%	10.07%	4.49%	2.89%	13.38%	12.48%	5.48%	2.58%	13.14%	-4.58%	-42.87%	7.82%	14.68%	12.08%	12.09%	7.27%	14.81%	12.06%	10.20%	10.89%	17.81%	8.86%	12.08%	13.37%	20.25%	7.97%	13.32%	8.77%	12.85%	11.32%	10.01%	7.66%	15.65%
Operating Margin	2.24%		-0.15%	2.66%	3.47%	2.34%	1.46%	5.03%	3.53%	1.08%	5.61%	6.63%	8.44%	1.21%	-5.37%	1.84%	-0.77%	-1.90%	3.11%	2.77%	6.50%	3.24%	4.93%	7.30%	6.98%	5.55%	6.54%	10.25%	9.45%	5.56%	-0.11%	8.61%	8.62%	2.92%	1.54%	12.22%	11.19%	5.48%	2.58%	13.14%	-4.58%	-42.87%	7.82%	14.68%	12.08%	12.09%	7.27%	14.81%	12.06%	10.20%	10.89%	17.81%	8.86%	12.08%	13.37%	20.25%	7.97%	13.32%	8.77%	12.85%	11.32%	10.01%	7.66%	15.65%
Net Margin	-7.15%		-8.44%	-6.12%	-2.31%	-5.70%	-6.70%	-3.35%	-5.46%	-4.92%	-2.33%	-10.27%	0.59%	-9.35%	-7.46%	-4.42%	-9.04%	-23.35%	-3.11%	-4.95%	2.81%	-6.06%	-3.07%	3.30%	1.61%	-0.86%	-0.36%	2.62%	2.42%	15.59%	-4.14%	0.48%	-0.10%	33.51%	-1.25%	7.15%	6.15%	1.32%	8.10%	9.71%	-6.91%	-51.39%	0.09%	7.42%	9.36%	4.55%	2.18%	11.65%	6.69%	8.73%	10.02%	8.33%	2.64%	7.93%	9.71%	11.04%	6.43%	9.07%	2.94%	14.47%	2.43%	-0.95%	5.84%	9.51%
FCF Margin	22.35%			3.86%	-15.55%			2.45%	18.30%		51.98%	-2.21%	19.11%	1.81%	0.13%	-7.85%	17.30%	-6.85%	7.65%	1.33%	13.59%	-5.07%	12.27%	6.01%	13.15%	3.33%	14.74%	16.14%	7.27%	7.85%	23.01%	11.48%	-1.35%	12.32%	12.13%	5.49%	-2.39%	12.00%	11.48%	5.02%	6.82%	10.20%	12.34%	11.31%	10.40%	5.30%	14.03%	5.89%	1.16%	8.94%	24.58%	12.63%	-2.93%	7.23%	18.92%	15.10%	-3.82%	10.30%	16.63%	17.77%	2.22%	0.41%	10.87%	22.83%
Efficiency
Inventory Average	54.00M							28.50M	28.00M	27.00M	27.50M	27.50M	26.00M	25.00M	29.00M	33.50M	34.50M	36.00M	38.00M	39.00M	37.50M	37.50M	40.50M	41.50M	41.00M	39.50M	39.50M	38.50M	36.00M	37.00M	38.50M	38.50M	38.50M	39.50M	41.00M	54.00M	65.50M	66.00M	70.50M	69.50M	65.00M	62.00M	69.00M	75.00M	75.00M	79.00M	89.00M	91.50M	89.00M	93.50M	100.50M	105.00M	108.00M	115.00M	121.00M	116.00M	101.50M	94.50M	95.50M	91.50M	86.00M	94.50M	81.50M	61.00M
Assets Average	4,361.00M	4,160.00M	3,859.00M	3,733.00M	3,707.50M	3,610.50M	3,600.00M	4,477.50M	5,338.00M	5,233.50M	5,220.50M	5,238.50M	5,153.50M	4,999.00M	5,571.00M	6,270.00M	6,209.00M	6,123.00M	6,035.00M	5,904.00M	5,760.00M	5,665.00M	5,642.50M	5,617.00M	5,549.00M	5,489.50M	5,414.50M	5,337.50M	5,322.00M	5,391.50M	5,598.50M	5,796.50M	5,828.50M	5,773.00M	5,554.00M	5,645.00M	5,924.00M	5,928.50M	5,986.00M	6,165.50M	6,219.00M	6,136.00M	6,279.00M	6,676.50M	6,886.50M	6,935.00M	7,125.50M	7,613.00M	7,898.00M	7,740.00M	7,763.50M	7,978.50M	8,069.50M	8,080.00M	8,347.50M	8,768.00M	8,861.00M	8,780.50M	8,992.50M	9,150.50M	9,357.00M	9,672.50M	9,803.00M	9,920.00M
Equity Average	-75.50M	-448.00M						352.00M	1,027.00M	986.50M	952.50M	904.00M	859.50M	824.50M	768.50M	720.50M	669.50M	550.50M	425.00M	352.00M	295.00M	274.50M	256.00M	239.00M	236.50M	233.00M	221.00M	175.00M	163.50M	256.00M	316.50M	314.50M	263.00M	198.00M	-64.50M	-241.00M	-151.00M	-146.00M	-210.50M	-229.50M	-248.00M	-172.00M	-41.50M	-6.00M	53.00M	84.00M	70.50M	109.00M	172.50M	172.50M	170.00M	225.00M	274.00M	282.50M	364.50M	523.00M	600.50M	610.00M	655.00M	686.00M	743.50M	801.00M	784.50M	790.50M
Invested Capital	-93.00M	-786.00M		-929.00M			-338.00M	1,042.00M	1,012.00M	961.00M	3,150.00M	3,089.00M	885.00M	823.00M	3,610.00M	3,624.00M	3,510.00M	473.00M	3,420.00M	3,332.00M	289.00M	286.00M	252.00M	252.00M	247.00M	345.00M	2,988.00M	2,895.00M	2,954.00M	3,122.00M	3,119.00M	3,139.00M	316.00M	3,005.00M	2,499.00M	2,836.00M	2,850.00M	2,854.00M	2,705.00M	2,798.00M	2,677.00M	2,962.00M	3,059.00M	3,420.00M	3,427.00M	3,462.00M	3,392.00M	4,018.00M	4,002.00M	3,957.00M	3,900.00M	4,228.00M	4,252.00M	4,287.00M	4,394.00M	4,620.00M	4,569.00M	4,613.00M	4,689.00M	4,652.00M	5,082.00M	5,175.00M	5,122.00M	5,195.00M
Asset Utilization Ratio	0.75	0.79	0.80	0.79	0.82	0.79	0.81	0.65	0.52	0.52	0.53	0.53	0.55	0.57	0.52	0.47	0.47	0.49	0.50	0.52	0.53	0.53	0.53	0.53	0.55	0.57	0.60	0.62	0.64	0.65	0.64	0.64	0.66	0.67	0.72	0.74	0.72	0.74	0.75	0.73	0.73	0.73	0.71	0.68	0.69	0.73	0.74	0.73	0.72	0.75	0.76	0.73	0.72	0.74	0.72	0.72	0.72	0.73	0.71	0.69	0.68	0.67	0.68	0.69
Leverage & Solvency
Interest Coverage Ratio			-0.02	0.43	0.57	0.34	0.21	0.68	0.39	0.13	0.73	0.96	1.16	0.17	-0.76
Debt to Equity	-20.20			-2.09			-5.78	2.12	2.19	2.30	2.34	2.58	2.59	2.60	3.86	4.19	4.48	6.62	7.77	9.61	10.85	10.97	12.53	12.49	12.44	12.53	13.23	19.68	14.80	8.61	9.13	8.78	14.38	14.73	-8.81	-18.51	-21.36	-19.78	-11.06	-15.73	-9.75	-78.95	-68.98	102.64	45.95	35.44	72.74	22.36	22.13	22.01	22.21	13.99	14.98	13.34	9.22	6.50	6.81	6.26	5.95	5.67	5.05	5.00	5.37	4.93
Debt Ratio	0.52			0.51			0.54	0.41	0.42	0.43	0.42	0.43	0.43	0.42	0.46	0.47	0.47	0.50	0.51	0.52	0.53	0.53	0.53	0.53	0.53	0.53	0.52	0.52	0.52	0.51	0.49	0.48	0.51	0.49	0.53	0.50	0.51	0.50	0.49	0.47	0.49	0.49	0.48	0.49	0.49	0.48	0.46	0.48	0.49	0.49	0.48	0.49	0.50	0.49	0.46	0.45	0.46	0.45	0.44	0.43	0.42	0.42	0.41	0.41
Equity Ratio	-0.03	-0.19		-0.24			-0.09	0.19	0.19	0.19	0.18	0.17	0.17	0.16	0.12	0.11	0.10	0.08	0.07	0.05	0.05	0.05	0.04	0.04	0.04	0.04	0.04	0.03	0.04	0.06	0.05	0.05	0.04	0.03	-0.06	-0.03	-0.02	-0.03	-0.04	-0.03	-0.05	-0.01	-0.01	0.00	0.01	0.01	0.01	0.02	0.02	0.02	0.02	0.03	0.03	0.04	0.05	0.07	0.07	0.07	0.07	0.08	0.08	0.08	0.08	0.08
Times Interest Earned			-0.02	0.43	0.57	0.34	0.21	0.68	0.39	0.13	0.73	0.96	1.16	0.17	-0.76
Dividends & Payouts
FCF Payout Ratio				0.03				0.05	0.01		0.01				2.00	-0.02		-0.02	0.02		0.02	-0.03		0.06		0.04	0.01				0.14	0.02	-9.46	2.54	3.97	0.03	-1.12	0.25	0.24	3.27	0.52	0.36	0.45	0.41	0.48	0.87	0.40	0.82	4.88	0.62	0.23	0.45	-2.02	0.74	0.30	0.34	-1.56	0.56	0.35	0.32	2.88	13.43	0.49	0.24
Valuation
Enterprise Value	-658.00M	-384.00M	-400.00M	-385.00M	-263.00M	-319.00M	-241.00M	-151.00M	-255.00M	-202.00M	-285.00M	-172.00M	-275.00M	-84.00M	-138.00M	-112.00M	-131.00M	-124.00M	-138.00M	-126.00M	-199.00M	-149.00M	-228.00M	-262.00M	-346.00M	-331.00M	-344.00M	-439.00M	-459.00M	-550.00M	-632.00M	-762.00M	-596.00M	-889.00M	-500.00M	-525.00M	-450.00M	-522.00M	-599.00M	-441.00M	-463.00M	-515.00M	-535.00M	-549.00M	-572.00M	-428.00M	-484.00M	-431.00M	-366.00M	-329.00M	-568.00M	-708.00M	-587.00M	-582.00M	-518.00M	-601.00M	-435.00M	-455.00M	-537.00M	-650.00M	-414.00M	-304.00M	-422.00M	-647.00M
Return Ratios
Return on Sales	-0.07%	-0.01%	-0.08%	-0.06%	-0.02%	-0.06%	-0.07%	-0.03%	-0.05%	-0.05%	-0.02%	-0.10%	0.01%	-0.09%	-0.07%	-0.04%	-0.09%	-0.23%	-0.03%	-0.05%	0.03%	-0.06%	-0.03%	0.03%	0.02%	-0.01%	0.00%	0.03%	0.02%	0.16%	-0.04%	0.00%	0.00%	0.34%	-0.01%	0.07%	0.06%	0.01%	0.08%	0.10%	-0.07%	-0.51%	0.00%	0.07%	0.09%	0.05%	0.02%	0.12%	0.07%	0.09%	0.10%	0.08%	0.03%	0.08%	0.10%	0.11%	0.06%	0.09%	0.03%	0.14%	0.02%	-0.01%	0.06%	0.10%
Return on Capital Employed	0.06%			0.04%			0.04%	0.03%	0.02%	0.02%	0.03%	0.03%	0.04%	0.05%	0.02%	0.01%	-0.01%	-0.01%	0.00%	0.01%	0.02%	0.03%	0.03%	0.04%	0.05%	0.06%	0.06%	0.07%	0.08%	0.08%	0.06%	0.06%	0.06%	0.06%	0.07%	0.09%	0.09%	0.10%	0.11%	0.11%	0.06%	-0.08%	-0.06%	-0.05%	0.00%	0.15%	0.15%	0.15%	0.14%	0.14%	0.16%	0.16%	0.14%	0.15%	0.16%	0.17%	0.16%	0.17%	0.16%	0.13%	0.13%	0.12%	0.12%	0.14%
Return on Invested Capital	-41.40%							0.33%	0.11%	0.09%	0.05%	0.04%	0.07%	0.20%	0.03%	0.01%	-0.01%	-0.02%	0.01%	0.01%	0.04%	0.44%	0.55%	0.70%	4.53%	0.21%	0.09%	0.04%	0.06%	0.36%	-5.30%	0.65%	1.56%	0.09%	0.06%	0.08%	0.08%	0.08%	0.12%	0.15%	0.20%	-0.09%	-0.08%	-0.07%	0.00%	0.13%	0.12%	0.12%	0.11%	0.12%	0.14%	0.14%	0.12%	0.13%	0.13%	0.14%	0.14%	0.15%	0.14%	0.12%	0.11%	0.10%	0.10%	0.11%
Return on Assets	-0.01%	-0.01%	-0.03%	-0.04%	-0.03%	-0.04%	-0.04%	-0.03%	-0.03%	-0.03%	-0.02%	-0.03%	-0.02%	-0.03%	-0.03%	-0.02%	-0.03%	-0.05%	-0.05%	-0.05%	-0.04%	-0.02%	-0.02%	0.00%	0.00%	0.00%	0.01%	0.00%	0.01%	0.03%	0.03%	0.02%	0.02%	0.05%	0.06%	0.07%	0.08%	0.03%	0.04%	0.05%	0.02%	-0.06%	-0.07%	-0.07%	-0.04%	0.04%	0.04%	0.05%	0.05%	0.06%	0.07%	0.06%	0.05%	0.05%	0.05%	0.06%	0.06%	0.07%	0.05%	0.06%	0.05%	0.03%	0.04%	0.03%
Return on Equity	0.46%	0.08%						-0.37%	-0.14%	-0.14%	-0.11%	-0.18%	-0.14%	-0.19%	-0.25%	-0.21%	-0.32%	-0.61%	-0.71%	-0.88%	-0.78%	-0.32%	-0.34%	-0.08%	-0.11%	0.04%	0.14%	0.15%	0.21%	0.72%	0.47%	0.41%	0.41%	1.45%	-4.84%	-1.63%	-3.05%	-1.05%	-1.23%	-1.28%	-0.62%	2.21%	11.33%	82.17%	-5.70%	3.31%	4.35%	3.63%	2.15%	2.52%	3.26%	2.18%	1.59%	1.54%	1.20%	0.97%	0.94%	0.96%	0.73%	0.77%	0.63%	0.39%	0.47%	0.38%

Research Tools

Warner Music Ratios (2009-2025) | WMG

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