WMG
Warner Music Group
NASDAQ: WMG · COMMUNICATION SERVICES · ENTERTAINMENT
$27.92
-2.21% today
Updated 2026-04-29
Market cap
$14.58B
P/E ratio
48.98
P/S ratio
2.12x
EPS (TTM)
$0.57
Dividend yield
2.59%
52W range
$23 – $34
Volume
2.2M
Warner Music Group (WMG) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.52B | $3.38B | $3.49B | $3.20B | $2.98B | $2.87B | $2.78B | $2.87B | $3.03B | $2.97B | $3.25B | $3.58B | $4.00B | $4.47B | $4.46B | $5.30B | $5.92B | $6.04B | $6.43B | $6.71B |
| Revenue growth (YoY) | — | -3.7% | +3.1% | -8.4% | -6.7% | -3.9% | -3.1% | +3.3% | +5.4% | -2.0% | +9.4% | +10.2% | +12.0% | +11.7% | -0.3% | +18.8% | +11.7% | +2.0% | +6.4% | +4.4% |
| Cost of revenue | $1.82B | $1.82B | $1.83B | $1.72B | $1.57B | $1.80B | $1.46B | $1.49B | $1.57B | $1.51B | $1.71B | $1.93B | $2.17B | $2.40B | $2.33B | $2.74B | $3.08B | $3.18B | $3.35B | $3.63B |
| Gross profit | $1.69B | $1.56B | $1.66B | $1.48B | $1.41B | $1.07B | $1.32B | $1.38B | $1.46B | $1.46B | $1.54B | $1.65B | $1.83B | $2.07B | $2.13B | $2.56B | $2.84B | $2.86B | $3.07B | $3.08B |
| Gross margin | 48.2% | 46.1% | 47.5% | 46.2% | 47.3% | 37.2% | 47.7% | 48.0% | 48.1% | 49.1% | 47.4% | 46.0% | 45.8% | 46.3% | 47.7% | 48.3% | 48.0% | 47.4% | 47.8% | 45.8% |
| R&D | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| SG&A | $1.23B | $1.16B | $1.23B | $1.12B | $1.10B | $186.00M | $578.00M | $616.00M | $659.00M | $586.00M | $584.00M | $684.00M | $814.00M | $764.00M | $1.43B | $870.00M | $863.00M | $904.00M | $986.00M | $960.00M |
| Operating income | $283.00M | $215.00M | $207.00M | $135.00M | $90.00M | $32.00M | $109.00M | $75.00M | $19.00M | $127.00M | $214.00M | $222.00M | $217.00M | $356.00M | $-229.00M | $609.00M | $714.00M | $790.00M | $823.00M | $694.00M |
| Operating margin | 8.0% | 6.4% | 5.9% | 4.2% | 3.0% | 1.1% | 3.9% | 2.6% | 0.6% | 4.3% | 6.6% | 6.2% | 5.4% | 8.0% | -5.1% | 11.5% | 12.1% | 13.1% | 12.8% | 10.3% |
| EBITDA | $519.00M | $511.00M | $475.00M | $397.00M | $348.00M | $32.00M | $361.00M | $236.00M | $195.00M | $415.00M | $507.00M | $398.00M | $841.00M | $678.00M | $-59.00M | $884.00M | $1.20B | $1.08B | $1.09B | $1.11B |
| EBITDA margin | 14.8% | 15.1% | 13.6% | 12.4% | 11.7% | 1.1% | 13.0% | 8.2% | 6.4% | 14.0% | 15.6% | 11.1% | 21.0% | 15.2% | -1.3% | 16.7% | 20.3% | 17.9% | 16.9% | 16.6% |
| EBIT | $283.00M | $265.00M | $207.00M | $135.00M | $90.00M | $34.00M | $117.00M | $-22.00M | $-126.00M | $106.00M | $214.00M | $147.00M | $580.00M | $409.00M | $-320.00M | $578.00M | $865.00M | $750.00M | $762.00M | $652.00M |
| Interest expense | $180.00M | $182.00M | $0.00 | $195.00M | $195.00M | $0.00 | $225.00M | $203.00M | $203.00M | $181.00M | $173.00M | $149.00M | $138.00M | $142.00M | $127.00M | $122.00M | $125.00M | $141.00M | $161.00M | $159.00M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 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% |
| Net income | $60.00M | $-21.00M | $-56.00M | $-100.00M | $-143.00M | $-138.00M | $-112.00M | $-198.00M | $-308.00M | $-91.00M | $25.00M | $143.00M | $307.00M | $256.00M | $-475.00M | $304.00M | $551.00M | $430.00M | $435.00M | $365.00M |
| Net income growth (YoY) | — | -135.0% | -166.7% | -78.6% | -43.0% | +3.5% | +18.8% | -76.8% | -55.6% | +70.5% | +127.5% | +472.0% | +114.7% | -16.6% | -285.5% | +164.0% | +81.3% | -22.0% | +1.2% | -16.1% |
| Profit margin | 1.7% | -0.6% | -1.6% | -3.1% | -4.8% | -4.8% | -4.0% | -6.9% | -10.2% | -3.1% | 0.8% | 4.0% | 7.7% | 5.7% | -10.6% | 5.7% | 9.3% | 7.1% | 6.8% | 5.4% |