Warner Bros. Discovery, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $37.3B | $39.3B | $41.3B | $33.8B | $12.2B |
| Selling, general & administrative | $9.4B | $9.3B | $9.7B | $9.7B | $4.0B |
| Operating income | $738.0M | -$10.0B | -$1.5B | -$7.4B | $2.0B |
| Interest expense | $2.1B | $2.0B | $2.2B | $1.8B | $633.0M |
| Pretax income | $1.6B | -$11.4B | -$3.9B | -$9.0B | $1.4B |
| Income tax expense | $890.0M | $94.0M | -$784.0M | -$1.7B | $236.0M |
| Net income | $727.0M | -$11.3B | -$3.1B | -$7.4B | $1.0B |
| Balance Sheet | |||||
| Cash and equivalents | $4.6B | $5.3B | $3.8B | $3.7B | $3.9B |
| Current assets | $13.2B | $14.1B | $14.2B | $14.0B | $7.3B |
| Total assets | $100.1B | $104.6B | $122.8B | $134.0B | $34.4B |
| Current liabilities | $12.5B | $15.8B | $15.3B | $15.0B | $3.5B |
| Total liabilities | $62.9B | $69.6B | $76.3B | $85.3B | $21.0B |
| Total debt | $32.8B | $39.5B | $44.0B | $49.3B | $15.2B |
| Stockholders' equity | $35.9B | $34.0B | $45.2B | $47.1B | $11.6B |
| Cash Flow Statement | |||||
| Cash from operations | $4.3B | $5.4B | $7.5B | $4.3B | $2.8B |
| Depreciation and amortization | $5.7B | $7.0B | $8.0B | $7.2B | $1.6B |
| Stock-based compensation | $769.0M | $557.0M | $500.0M | $412.0M | $178.0M |
| Capital expenditure | $1.2B | $948.0M | $1.3B | $987.0M | $373.0M |
| Free cash flow | $3.1B | $4.4B | $6.2B | $3.3B | $2.4B |
| Share repurchases | — | — | — | $0 | $0 |
| Impairments | — | $9.1B | $0 | $0 | — |
Shares outstanding 2.5B · Free float 5.5%
Annual filing data through FY ended December 31, 2025; float as of July 14, 2026.