WMG
Warner Music Group margins
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- Communication Services
- NASDAQ: WMG
- Margins
Using the latest TTM figures, Warner Music Group shows a gross margin of 45.8%, an operating margin of 13.8%, an EBITDA margin of 20.2%, and a net margin of 9.2%. Margin expansion was strongest in EBITDA margin, which increased by 5.7 percentage points. Gross margin had the strongest contraction, declining by 0.8 percentage points.
WMG margin history
Over the last 3 years, Warner Music Group recorded average margins of 46.73% gross, 12.08% operating, 17.07% EBITDA, and 6.93% net. Warner Music Group's current performance shows that operating, EBITDA, and net margins are above their three-year averages and gross margin is below its three-year average.
WMG margin expansion
Warner Music Group's operating margin expanded by 3.1 percentage points, EBITDA margin by 5.7 percentage points, and net margin by 4.6 percentage points, but gross margin contracted by 0.8 percentage points.
WMG Gross margin
Throughout the last 3 years, Warner Music Group had an average gross margin of 46.73%. Against its three-year average, Warner Music Group's gross margin is currently 45.8%, 0.9 percentage points below its three-year average. Looking back over the last 3 years, Warner Music Group's gross margin reached 47.8% at its highest point in Sep 2024 and 45.8% at its lowest in Sep 2025.
WMG Operating margin
Warner Music Group recorded an average operating margin of 12.08% across the last 3 years. As of the latest period, the current operating margin for Warner Music Group is 13.8%, 1.7 percentage points above its three-year average. The operating margin for Warner Music Group moved between 10.3% in Sep 2025 and 13.8% in Jun 2026.
WMG EBITDA margin
Warner Music Group recorded an average EBITDA margin of 17.07% across the last 3 years. The current EBITDA margin of 20.2% is 3.1 percentage points above its three-year average. During this period, EBITDA margin reached a high of 20.2% in Jun 2026 and a low of 14% in Dec 2025.
WMG Net margin
Across the last 3 years, Warner Music Group's net margin stood at 6.93%. Against its three-year average, Warner Music Group's net margin is currently 9.2%, 2.3 percentage points above its three-year average. Net margin was highest at 9.2% in Jun 2026 and lowest at 4.4% in Dec 2025.
WMG margin group comparison
Warner Music Group's gross margin of 45.8% is higher than the industry average but lower than the Communication Services sector average. In comparison with the Communication Services sector average of 50%, Warner Music Group's gross margin is 8% lower.
Frequently asked questions
What is Warner Music Group's gross margin?
The current gross margin for WMG is 45.8% as of Jun 30, 2026.
What is Warner Music Group's operating margin?
The current operating margin for WMG is 13.8% as of Jun 30, 2026.
What is Warner Music Group's EBITDA margin?
As of Jun 30, 2026, WMG has an EBITDA margin of 20.2%.
What is Warner Music Group's net margin?
The current net margin for WMG is 9.2% as of Jun 30, 2026.
What are the average margins of WMG?
Warner Music Group's gross, operating, EBITDA, and net margins averaged 46.7% gross, 12.1% operating, 17.1% EBITDA, and 6.9% net over the last 3 years.
What are the highest historical margins of WMG?
Over the last 5 years, Warner Music Group's highest margins were 48.5% gross in Dec 2021, 13.8% operating in Jun 2026, 20.3% EBITDA in Sep 2022, and 9.3% net in Sep 2022.
What are the lowest historical margins of WMG?
Looking back across 5 years, WMG reached its lowest margins at 45.8% gross in Sep 2025, 10.2% operating in Mar 2023, 14% EBITDA in Dec 2025, and 4.4% net in Dec 2025.