Warner Bros. Discovery $WBD Read from its own SEC filings · nothing written, nothing inferred
🫧 Edgar looked up Warner Bros. Discovery, Inc. ($WBD). Last filing: 10-Q, 2026-08-06. 18 event filings (8-K) in the past twelve months.
🔖 Exposure: revenue $37.3B (FY2025), total debt $32.6B. Experience: revenue down 5.1% on the year, up 32.3% a year over 4 years; operating margin 2.0%, up from -25.5%. Soundness: equity 35.9% of assets, return on equity 2.1%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $21.4B and $57.4B next year (method v4.1: its own 4-year record of growth weighed at 50% against $10B+ filers; on a year the method never saw, 83.4% landed inside). In a shock year the stress range is $13.9B to $85.2B. A statistical range, not company guidance. Against peers (11 filers, $50M+ revenue, cable & other pay television services): operating margin 2.0% against a 5.8% median; growth -5.1% against -0.0%.
Speed and cash · fiscal 2025
Both views must agree for a label · a description, not advice.
| Cash flow (op · inv · fin · free) | $4.3B · −$1.2B · −$4.2B · $3.1B |
| Investment book (cash · short · long) | $4.6B · — · — · current ratio 1.06 |
| Revenue swing · equity of assets | 50.8% · 35.9% |
Warner Bros. Discovery is growing slower than its size class, with revenue that swings more. Its own audited SEC figures.
The figures, as filed
| Fiscal year end | 2025-12-31 |
| Revenue | $37.3B |
| Revenue, on the year | −5.1% |
| Revenue, a year over the record | 32.3% |
| Operating margin | 2.0% |
| Operating margin, prior year | −25.5% |
| Net margin | 2.0% |
| Research and development | not filed separately |
| Total debt | $32.6B |
| Equity of assets | 35.9% |
| Return on equity | 2.1% |
| Payout of profit | — |
| Dividend per share | — |
| Earnings per share | $0.29 |
| Book value per share | $14.20 |
| Revenue per share | $14.74 |
| Shares outstanding | 2,530,000,000 |
| Audited years read | 5 |
Peers: the median of 11 filers with $50M+ revenue in cable & other pay television services.
Health HarborWarner Bros. Discovery sails as: Weathered boat
Health watch · 12 monthsDirector or officer change ×5
Sailing speed follows growth: 3.3% a year crosses the harbor in 70 seconds.
🌊 Visit the Bay →- slow and jumpy: growing slower than its size class, with revenue that swings more
- revenue is hard to predict: its 80% range is ±46%
Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider. A picture of the signs, not a rating and not investment advice.
- 10-Q · 2026-08-06
- 8-K · 2026-08-06 · 2.02 Results of Operations and Financial Condition; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits
- 8-K · 2026-06-12 · 5.07 Submission of Matters to a Vote of Security Holders
- 8-K · 2026-06-04 · 1.01 Entry into a Material Definitive Agreement; 2.03 Creation of a Direct Financial Obligation; 9.01 Financial Statements and Exhibits
- 8-K · 2026-05-27 · 1.01 Entry into a Material Definitive Agreement; 3.03 Material Modifications to Rights of Security Holders; 8.01 Other Events; 9.01 Financial Statements and Exhibits
- 8-K · 2026-05-19 · 8.01 Other Events; 9.01 Financial Statements and Exhibits
Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price. Reporting, not investment advice. No price targets and no trading recommendations. Figures from the SEC’s own data · every filing · this page as JSON · ask about another company