WBD
Warner Bros Discovery margins
- Stocks
- Communication Services
- NASDAQ: WBD
- Margins
Currently, Warner Bros Discovery shows a gross margin of 47.2%, an operating margin of -3.5%, an EBITDA margin of 9.7%, and a net margin of -8.8%; its operating margin is negative at -3.5%, and its net margin is negative at -8.8%. The biggest positive change was in gross margin, increasing 3.9 percentage points. The biggest negative change was in EBITDA margin, decreasing 16.1 percentage points.
WBD margin history
Warner Bros Discovery's margins averaged 42.88% gross, -10.41% operating, 10.27% EBITDA, and -12.55% net during the last 3 years. Against the three-year averages, gross, operating, and net margins are above their three-year averages and EBITDA margin is below its three-year average.
WBD margin expansion
The largest positive change was in gross margin, up 3.9 percentage points. The expansion was limited to gross margin, while operating margin contracted by 4.1 percentage points, EBITDA margin by 16.1 percentage points, and net margin by 10.8 percentage points.
WBD Gross margin
Warner Bros Discovery recorded an average gross margin of 42.88% across the last 3 years. Warner Bros Discovery currently reports a gross margin of 47.2%, 4.3 percentage points above its three-year average. Looking back over the last 3 years, Warner Bros Discovery's gross margin reached 47.2% at its highest point in Jun 2026 and 40.6% at its lowest in Dec 2023.
WBD Operating margin
Looking back over the last 3 years, Warner Bros Discovery recorded an average operating margin of -10.41%. As of the latest period, the current operating margin for Warner Bros Discovery is -3.5%, 6.9 percentage points above its three-year average. The highest operating margin for Warner Bros Discovery was 2% in Dec 2025, while the lowest was -26.4% in Jun 2024.
WBD EBITDA margin
Warner Bros Discovery's EBITDA margin averaged 10.27% over the last 3 years. Compared with its three-year average, Warner Bros Discovery's current EBITDA margin is 9.7% and is 0.6 percentage points below its three-year average. Over the last 3 years, Warner Bros Discovery's EBITDA margin peaked at 25.9% in Sep 2025 and reached a low of -5.6% in Jun 2024.
WBD Net margin
Warner Bros Discovery's net margin averaged -12.55% during the last 3 years. Compared with its three-year average, Warner Bros Discovery's current net margin is -8.8% and is 3.8 percentage points above its three-year average. Over the last 3 years, Warner Bros Discovery's net margin peaked at 2% in Jun 2025 and reached a low of -29.5% in Jun 2024.
WBD margin group comparison
Warner Bros Discovery's gross margin of 47.2% is higher than the industry average but lower than the Communication Services sector average. But when looking at the Communication Services sector average of 49.3%, Warner Bros Discovery's gross margin is only 4.3% lower.
Frequently asked questions
What is Warner Bros Discovery's gross margin?
The current gross margin for WBD is 47.2% as of Jun 30, 2026.
What is Warner Bros Discovery's operating margin?
The current operating margin for WBD is -3.5% as of Jun 30, 2026.
What is Warner Bros Discovery's EBITDA margin?
As of Jun 30, 2026, WBD has an EBITDA margin of 9.7%.
What is Warner Bros Discovery's net margin?
The current net margin for WBD is -8.8% as of Jun 30, 2026.
What are the average margins of WBD?
Over the past 3 years, WBD reported average margins of 42.9% gross, -10.4% operating, 10.3% EBITDA, and -12.6% net.
What are the highest historical margins of WBD?
Across the 5-year period, WBD posted its highest margins at 62.1% gross in Dec 2021, 16.5% operating in Dec 2021, 32% EBITDA in Mar 2022, and 10.5% net in Mar 2022.
What are the lowest historical margins of WBD?
Looking back across 5 years, WBD reached its lowest margins at 37.4% gross in Mar 2023, -26.4% operating in Jun 2024, -5.6% EBITDA in Jun 2024, and -29.5% net in Jun 2024.