Warner Music Group Corp
NASDAQ:WMG

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Warner Music Group Corp Logo
Warner Music Group Corp
NASDAQ:WMG
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Price: 27.89 USD 0.11% Market Closed
Market Cap: 14.6B USD
Financials Section:
Income Statement Balance Sheet Cash Flow Statement
|
Revenue Breakdown

Income Statement

Revenue
+
3Y
+13%
5Y
+50%
10Y
+126%
Operating Income
+
3Y
+30%
5Y
-
10Y
+631%
Net Income
+
3Y
-34%
5Y
-
10Y
-

Earnings Waterfall
Warner Music Group Corp

Revenue
6.7B USD
Cost of Revenue
-3.6B USD
Gross Profit
3.1B USD
Operating Expenses
-2.1B USD
Operating Income
928m USD
Other Expenses
-567m USD
Net Income
361m USD

Income Statement
Warner Music Group Corp

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Income Statement
Currency: USD
Sep-2005 Dec-2005 Mar-2006 Jun-2006 Sep-2006 Dec-2006 Mar-2007 Jun-2007 Sep-2007 Dec-2007 Mar-2008 Jun-2008 Sep-2008 Dec-2008 Mar-2009 Jun-2009 Sep-2009 Dec-2009 Mar-2010 Jun-2010 Sep-2010 Dec-2010 Mar-2011 Jun-2011 Sep-2011 Dec-2011 Mar-2012 Jun-2012 Sep-2012 Dec-2012 Mar-2013 Jun-2013 Sep-2013 Dec-2013 Mar-2014 Jun-2014 Sep-2014 Dec-2014 Mar-2015 Jun-2015 Sep-2015 Dec-2015 Mar-2016 Jun-2016 Sep-2016 Dec-2016 Mar-2017 Jun-2017 Sep-2017 Dec-2017 Mar-2018 Jun-2018 Sep-2018 Dec-2018 Mar-2019 Jun-2019 Sep-2019 Dec-2019 Mar-2020 Jun-2020 Sep-2020 Dec-2020 Mar-2021 Jun-2021 Sep-2021 Dec-2021 Mar-2022 Jun-2022 Sep-2022 Dec-2022 Mar-2023 Jun-2023 Sep-2023 Dec-2023 Mar-2024 Jun-2024 Sep-2024 Dec-2024 Mar-2025 Jun-2025 Sep-2025
Revenue
Interest Expense
182
189
182
177
180
182
182
182
182
183
185
183
180
176
170
188
195
202
207
192
190
186
187
188
213
223
232
241
225
221
214
205
203
205
210
211
203
194
185
182
181
180
178
176
173
168
161
154
149
145
145
142
138
138
138
141
142
139
136
132
127
125
124
122
122
121
121
123
125
127
130
136
141
148
155
157
161
159
156
159
162
Revenue
3 502
N/A
3 458
-1%
3 487
+1%
3 567
+2%
3 516
-1%
3 400
-3%
3 388
0%
3 370
-1%
3 383
+0%
3 444
+2%
3 460
+0%
3 504
+1%
3 506
+0%
3 389
-3%
3 260
-4%
3 185
-2%
3 205
+1%
3 229
+1%
3 224
0%
3 103
-4%
2 988
-4%
2 848
-5%
2 864
+1%
2 898
+1%
2 869
-1%
2 855
0%
2 796
-2%
2 761
-1%
2 780
+1%
2 774
0%
2 826
+2%
2 838
+0%
2 871
+1%
2 917
+2%
2 895
-1%
3 020
+4%
3 027
+0%
3 041
+0%
3 065
+1%
2 987
-3%
2 966
-1%
2 986
+1%
3 054
+2%
3 155
+3%
3 246
+3%
3 314
+2%
3 394
+2%
3 500
+3%
3 576
+2%
3 704
+4%
3 842
+4%
3 883
+1%
4 005
+3%
4 163
+4%
4 290
+3%
4 390
+2%
4 475
+2%
4 528
+1%
4 509
0%
4 461
-1%
4 463
+0%
4 542
+2%
4 721
+4%
5 051
+7%
5 301
+5%
5 580
+5%
5 706
+2%
5 798
+2%
5 919
+2%
5 793
-2%
5 816
+0%
5 948
+2%
6 037
+1%
6 297
+4%
6 392
+2%
6 382
0%
6 426
+1%
6 344
-1%
6 334
0%
6 469
+2%
6 707
+4%
Gross Profit
Cost of Revenue
(1 850)
(1 799)
(1 808)
(1 857)
(1 822)
(1 800)
(1 818)
(1 802)
(1 811)
(1 848)
(1 834)
(1 846)
(1 846)
(1 780)
(1 708)
(1 702)
(1 732)
(1 737)
(1 725)
(1 642)
(1 584)
(1 498)
(1 526)
(1 552)
(1 551)
(1 529)
(1 490)
(1 465)
(1 459)
(1 447)
(1 458)
(1 474)
(1 492)
(1 528)
(1 518)
(1 566)
(1 570)
(1 574)
(1 573)
(1 529)
(1 511)
(1 515)
(1 571)
(1 646)
(1 707)
(1 754)
(1 795)
(1 866)
(1 931)
(2 004)
(2 077)
(2 089)
(2 171)
(2 228)
(2 299)
(2 345)
(2 401)
(2 440)
(2 416)
(2 366)
(2 333)
(2 354)
(2 442)
(2 596)
(2 742)
(2 874)
(2 948)
(3 033)
(3 080)
(3 023)
(3 047)
(3 131)
(3 177)
(3 296)
(3 366)
(3 346)
(3 355)
(3 369)
(3 369)
(3 452)
(3 632)
Gross Profit
1 652
N/A
1 659
+0%
1 679
+1%
1 710
+2%
1 694
-1%
1 600
-6%
1 570
-2%
1 568
0%
1 572
+0%
1 596
+2%
1 626
+2%
1 658
+2%
1 660
+0%
1 609
-3%
1 552
-4%
1 483
-4%
1 473
-1%
1 492
+1%
1 499
+0%
1 461
-3%
1 404
-4%
1 350
-4%
1 338
-1%
1 346
+1%
1 318
-2%
1 326
+1%
1 306
-2%
1 296
-1%
1 321
+2%
1 327
+0%
1 368
+3%
1 364
0%
1 379
+1%
1 389
+1%
1 377
-1%
1 454
+6%
1 457
+0%
1 467
+1%
1 492
+2%
1 458
-2%
1 455
0%
1 471
+1%
1 483
+1%
1 509
+2%
1 539
+2%
1 560
+1%
1 599
+3%
1 634
+2%
1 645
+1%
1 700
+3%
1 765
+4%
1 794
+2%
1 834
+2%
1 935
+6%
1 991
+3%
2 045
+3%
2 074
+1%
2 088
+1%
2 093
+0%
2 095
+0%
2 130
+2%
2 188
+3%
2 279
+4%
2 455
+8%
2 559
+4%
2 706
+6%
2 758
+2%
2 765
+0%
2 839
+3%
2 770
-2%
2 769
0%
2 817
+2%
2 860
+2%
3 001
+5%
3 026
+1%
3 036
+0%
3 071
+1%
2 975
-3%
2 965
0%
3 017
+2%
3 075
+2%
Operating Income
Operating Expenses
(1 488)
(1 596)
(1 598)
(1 467)
(1 411)
(1 381)
(1 365)
(1 313)
(1 294)
(1 336)
(1 369)
(1 428)
(1 453)
(1 423)
(1 379)
(1 336)
(1 338)
(1 351)
(1 350)
(1 337)
(1 314)
(1 281)
(1 277)
(1 274)
(1 233)
(1 282)
(1 256)
(1 249)
(1 212)
(1 206)
(1 212)
(1 207)
(1 304)
(1 350)
(1 400)
(1 500)
(1 438)
(1 581)
(1 557)
(1 344)
(1 328)
(1 305)
(1 309)
(1 313)
(1 325)
(1 314)
(1 327)
(1 356)
(1 423)
(1 482)
(1 542)
(1 594)
(1 617)
(1 661)
(1 678)
(1 702)
(1 718)
(1 714)
(1 890)
(2 383)
(2 359)
(2 420)
(2 311)
(1 858)
(1 950)
(2 076)
(2 113)
(2 114)
(2 125)
(2 071)
(2 071)
(2 076)
(2 071)
(2 099)
(2 089)
(2 081)
(2 103)
(2 103)
(2 112)
(2 133)
(2 147)
Selling, General & Administrative
(1 305)
(1 293)
(1 294)
(1 277)
(1 232)
(1 199)
(1 180)
(1 176)
(1 161)
(1 202)
(1 231)
(1 234)
(1 188)
(1 189)
(1 135)
(1 083)
(1 076)
(1 090)
(1 090)
(1 078)
(1 056)
(1 024)
(1 017)
(1 012)
(975)
(974)
(951)
(952)
(968)
(961)
(971)
(964)
(1 046)
(1 087)
(1 117)
(1 197)
(1 117)
(1 132)
(1 110)
(1 042)
(1 019)
(1 000)
(1 006)
(1 012)
(1 032)
(1 033)
(1 058)
(1 098)
(1 172)
(1 229)
(1 283)
(1 328)
(1 356)
(1 397)
(1 414)
(1 443)
(1 449)
(1 442)
(1 626)
(2 123)
(2 098)
(2 125)
(2 000)
(1 564)
(1 644)
(1 738)
(1 763)
(1 778)
(1 786)
(1 729)
(1 735)
(1 741)
(1 739)
(1 770)
(1 760)
(1 758)
(1 776)
(1 771)
(1 773)
(1 778)
(1 771)
Depreciation & Amortization
(187)
(188)
(189)
(190)
(193)
(196)
(199)
(203)
(206)
(210)
(214)
(218)
(268)
(234)
(244)
(253)
(262)
(261)
(259)
(259)
(258)
(256)
(259)
(261)
(258)
(255)
(252)
(244)
(244)
(245)
(241)
(243)
(258)
(263)
(283)
(303)
(321)
(308)
(306)
(302)
(309)
(305)
(303)
(301)
(293)
(281)
(269)
(258)
(251)
(253)
(259)
(266)
(261)
(264)
(264)
(259)
(269)
(272)
(264)
(260)
(261)
(261)
(277)
(294)
(306)
(316)
(328)
(336)
(339)
(342)
(336)
(335)
(332)
(329)
(329)
(323)
(327)
(332)
(339)
(355)
(376)
Other Operating Expenses
4
(115)
(115)
0
14
14
14
66
73
76
76
24
3
0
0
0
0
0
0
0
0
0
0
0
0
(53)
(53)
(53)
0
0
0
0
0
0
0
0
0
(141)
(141)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(34)
(34)
0
0
(22)
(22)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Operating Income
164
N/A
63
-62%
81
+29%
243
+200%
283
+16%
219
-23%
205
-6%
255
+24%
278
+9%
260
-6%
257
-1%
230
-11%
207
-10%
186
-10%
173
-7%
147
-15%
135
-8%
141
+4%
149
+6%
124
-17%
90
-27%
69
-23%
61
-12%
72
+18%
85
+18%
44
-48%
50
+14%
47
-6%
109
+132%
121
+11%
156
+29%
157
+1%
75
-52%
39
-48%
(23)
N/A
(46)
-100%
19
N/A
(114)
N/A
(65)
+43%
114
N/A
127
+11%
166
+31%
174
+5%
196
+13%
214
+9%
246
+15%
272
+11%
278
+2%
222
-20%
218
-2%
223
+2%
200
-10%
217
+9%
274
+26%
313
+14%
343
+10%
356
+4%
374
+5%
203
-46%
(288)
N/A
(229)
+20%
(232)
-1%
(32)
+86%
597
N/A
609
+2%
630
+3%
645
+2%
651
+1%
714
+10%
699
-2%
698
0%
741
+6%
789
+6%
902
+14%
937
+4%
955
+2%
968
+1%
872
-10%
853
-2%
884
+4%
928
+5%
Pre-Tax Income
Interest Income Expense
(170)
(149)
(180)
(176)
(179)
(181)
(182)
(184)
(187)
(190)
(192)
(190)
(180)
(134)
(128)
(144)
(150)
(202)
(207)
(192)
(190)
(186)
(187)
(188)
(213)
(223)
(232)
(241)
(225)
(221)
(214)
(205)
(203)
(205)
(210)
(211)
(203)
(194)
(185)
(182)
(181)
(180)
(178)
(176)
(173)
(168)
(161)
(154)
(149)
(145)
(145)
(142)
(138)
(138)
(138)
(141)
(142)
(139)
(136)
(132)
(127)
(125)
(124)
(122)
(122)
(121)
(121)
(123)
(125)
(127)
(130)
(136)
(141)
(148)
(155)
(157)
(161)
(159)
(156)
(159)
(162)
Non-Reccuring Items
(115)
0
0
(7)
0
0
(12)
(44)
(50)
(50)
(38)
(6)
0
(10)
(39)
(39)
(40)
(30)
0
(1)
(1)
0
0
0
(53)
0
0
0
0
(83)
(83)
(85)
(85)
(2)
(2)
(141)
(141)
0
0
0
0
0
0
0
(18)
(50)
(50)
(53)
(35)
(4)
(27)
(31)
(31)
(33)
(10)
(7)
(7)
(4)
(4)
0
(34)
0
0
(46)
(22)
0
0
(10)
0
41
0
(4)
(3)
(27)
(67)
(63)
(145)
(189)
(121)
(190)
(234)
Gain/Loss on Disposition of Assets
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
19
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Total Other Income
7
3
5
5
3
3
1
(4)
0
0
(2)
0
(8)
(8)
(9)
(3)
1
2
1
(2)
(3)
(4)
(1)
4
5
3
6
6
8
5
(1)
(9)
(12)
(11)
(10)
(4)
(4)
(9)
8
(13)
(21)
(4)
(19)
12
18
29
(8)
(24)
(40)
(55)
(42)
373
394
418
453
43
60
27
(6)
7
(57)
(83)
(30)
(45)
(9)
76
19
87
151
36
13
(17)
(36)
(25)
43
27
(61)
142
41
(100)
(42)
Pre-Tax Income
(114)
N/A
(83)
+27%
(94)
-13%
65
N/A
107
+65%
41
-62%
12
-71%
23
+92%
41
+78%
20
-51%
25
+25%
34
+36%
19
-44%
34
+79%
(3)
N/A
(39)
-1 200%
(54)
-38%
(89)
-65%
(57)
+36%
(71)
-25%
(104)
-46%
(121)
-16%
(127)
-5%
(112)
+12%
(176)
-57%
(176)
N/A
(176)
N/A
(188)
-7%
(108)
+43%
(178)
-65%
(142)
+20%
(142)
N/A
(225)
-58%
(179)
+20%
(245)
-37%
(402)
-64%
(329)
+18%
(317)
+4%
(242)
+24%
(81)
+67%
(75)
+7%
(18)
+76%
(4)
+78%
32
N/A
41
+28%
57
+39%
53
-7%
47
-11%
(2)
N/A
14
N/A
9
-36%
400
+4 344%
442
+11%
521
+18%
618
+19%
238
-61%
267
+12%
258
-3%
57
-78%
(413)
N/A
(447)
-8%
(440)
+2%
(186)
+58%
384
N/A
456
+19%
585
+28%
543
-7%
605
+11%
740
+22%
649
-12%
581
-10%
584
+1%
609
+4%
702
+15%
758
+8%
762
+1%
601
-21%
666
+11%
617
-7%
435
-29%
490
+13%
Net Income
Tax Provision
(55)
(53)
(53)
(47)
(47)
(32)
(23)
(36)
(49)
(44)
(56)
(58)
(49)
(55)
(52)
(43)
(50)
(47)
(39)
(44)
(41)
(26)
(31)
(37)
(30)
(38)
(33)
(7)
(1)
16
18
(12)
31
28
31
66
26
9
12
(8)
(13)
(1)
(22)
(22)
(11)
(31)
(19)
137
151
142
126
(87)
(130)
(128)
(157)
(84)
(9)
36
96
33
(23)
(53)
(116)
(106)
(149)
(189)
(172)
(170)
(185)
(158)
(145)
(149)
(170)
(194)
(191)
(178)
(123)
(140)
(151)
(126)
(120)
Income from Continuing Operations
(169)
(136)
(147)
18
60
9
(11)
(13)
(8)
(24)
(31)
(24)
(30)
(21)
(55)
(82)
(104)
(136)
(96)
(115)
(145)
(147)
(158)
(149)
(206)
(214)
(209)
(195)
(109)
(162)
(124)
(154)
(194)
(151)
(214)
(336)
(303)
(308)
(230)
(89)
(88)
(19)
(26)
10
30
26
34
184
149
156
135
313
312
393
461
154
258
294
153
(380)
(470)
(493)
(302)
278
307
396
371
435
555
491
436
435
439
508
567
584
478
526
466
309
370
Income to Minority Interest
0
0
0
0
0
0
0
0
0
0
0
0
(5)
7
7
6
4
(4)
(1)
0
2
3
1
1
1
1
(2)
(2)
(3)
(4)
(4)
(5)
(4)
(4)
(3)
(3)
(5)
(5)
(5)
(5)
(3)
(3)
(3)
(4)
(5)
(6)
(6)
(6)
(6)
(5)
(6)
(5)
(5)
(4)
(2)
(2)
(2)
(4)
(4)
(4)
(5)
(4)
(4)
(3)
(3)
(3)
(3)
(4)
(4)
(5)
(8)
(9)
(9)
(41)
(38)
(38)
(43)
(14)
(14)
(12)
(5)
Net Income (Common)
(169)
N/A
(136)
+20%
(147)
-8%
18
N/A
60
+233%
9
-85%
(11)
N/A
(14)
-27%
(21)
-50%
(55)
-162%
(65)
-18%
(57)
+12%
(56)
+2%
(17)
+70%
(48)
-182%
(76)
-58%
(100)
-32%
(140)
-40%
(97)
+31%
(115)
-19%
(143)
-24%
(144)
-1%
(157)
-9%
(148)
+6%
(205)
-39%
(213)
-4%
(211)
+1%
(197)
+7%
(112)
+43%
(166)
-48%
(128)
+23%
(159)
-24%
(198)
-25%
(155)
+22%
(217)
-40%
(339)
-56%
(308)
+9%
(313)
-2%
(235)
+25%
(94)
+60%
(91)
+3%
(22)
+76%
(29)
-32%
6
N/A
25
+317%
20
-20%
28
+40%
178
+536%
143
-20%
125
-13%
103
-18%
282
+174%
307
+9%
389
+27%
459
+18%
152
-67%
256
+68%
290
+13%
149
-49%
(384)
N/A
(475)
-24%
(499)
-5%
(309)
+38%
271
N/A
300
+11%
389
+30%
364
-6%
426
+17%
544
+28%
479
-12%
421
-12%
419
0%
424
+1%
460
+8%
522
+13%
539
+3%
429
-20%
505
+18%
446
-12%
293
-34%
361
+23%
EPS (Diluted)
-1.4
N/A
-0.9
+36%
-1.03
-14%
0.12
N/A
0.4
+233%
0.05
-88%
-0.09
N/A
-0.1
-11%
-0.14
-40%
-0.37
-164%
-0.43
-16%
-0.38
+12%
-0.37
+3%
-0.1
+73%
-0.32
-220%
-0.51
-59%
-0.67
-31%
-0.93
-39%
-0.65
+30%
-0.77
-18%
-0.96
-25%
-0.97
-1%
-1.05
-8%
-0.98
+7%
0
N/A
0
N/A
0
N/A
0
N/A
0
N/A
0
N/A
0
N/A
-0.31
N/A
-0.39
-26%
-0.3
+23%
-0.42
-40%
-0.66
-57%
-0.6
+9%
-0.61
-2%
-0.45
+26%
-0.18
+60%
-0.18
N/A
-0.05
+72%
-0.07
-40%
0
N/A
0.05
N/A
0.03
-40%
0.05
+67%
0.35
+600%
0.28
-20%
0.24
-14%
0.2
-17%
0.55
+175%
0.6
+9%
0.76
+27%
0.9
+18%
0.3
-67%
0.5
+67%
0.58
+16%
0.3
-48%
-0.75
N/A
-0.93
-24%
-0.98
-5%
-0.6
+39%
0.54
N/A
0.58
+7%
0.76
+31%
0.71
-7%
0.83
+17%
1.06
+28%
0.93
-12%
0.81
-13%
0.8
-1%
0.82
+2%
0.88
+7%
1
+14%
1.03
+3%
0.83
-19%
0.97
+17%
0.86
-11%
0.57
-34%
0.69
+21%

See Also

Summary
WMG intrinsic value, competitors valuation, and company profile.
DCF Valuation
WMG stock valuation using Discount Cash Flow valuation method.
Relative Valuation
WMG stock valuation using valuation multiples.
Wall Street Estimates
WMG price targets and financial estimates made by Wall st analysts.
Profitability Analysis
Detailed analysis of the company's profitability.
Solvency Analysis
Analysis of the financial position and solvency of the company.
Financials
Income Statement, Balance Sheet, Cash Flow Statement.
Discount Rate
WMG stock discount rate: cost of equity and WACC.
Summary
DCF Valuation
Relative Valuation
Wall Street Estimates
Profitability Analysis
Solvency Analysis
Financials
Discount Rate
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