The Bid & Ask

Quotations, Dispatches, and the Daily Tape

Thursday, August 13, 2026

Subject of the day

WBD

Concerning the House

Warner Bros. Discovery, Inc. operates as a media and entertainment company worldwide. It operates through three segments: Streaming, Studios, and Global Linear Networks. The Streaming segment offers streaming services, such as HBO Max and discovery+, and premium pay-TV services, including HBO and certain premium sports streaming products for mobile and connected TV devices. The Studios segment is involved in the production and release of feature films for initial exhibition in theaters, production and initial licensing of television programs to third parties and its networks/streaming services. This segment also distributes films and television programs to various third-party and internal television, streaming services, and physical and digital home entertainment markets; related consumer products and themed experience licensing; and publishes, develops, licenses, and distributes content for the interactive space in platforms, including console, handheld, mobile, and PC-based gaming for both internal and third-party game titles. The Global Linear Networks segment provides general and lifestyle entertainment networks, news networks; and hosts international media networks and global sports networks. In addition, the company offers a portfolio of content and products for television, film, streaming, interactive gaming, publishing, themed experiences, and consumer products under the Discovery Channel, HBO Max, CNN, DC Studios, TNT Sports, HBO, Food Network, TLC, TBS, Warner Bros. Motion Picture Group, Warner Bros. Television Group, Warner Bros. Games, Adult Swim, Turner Classic Movies, and other brands. Warner Bros. Discovery, Inc. was incorporated in 2008 and is headquartered in New York, New York.

United States · www.wbd.com

The Long Run

FY 2009–2025 · 17 years

LineLatestCAGRTrend
Revenue$39.32B+47.8%
Operating income-$10.03B+3.9%
Net income-$11.31B+18.8%
Cash from ops$4.32B+48.0%
Quotation

$27.75

+0.10 (+0.4%)

52w hi$29.98
52w lo$11.54
Vol25.19M
As ofAug 13
The Verdict

Sell

Our score -0.74

Short-0.09
Medium-0.95
Long-1.61

computed 2026-08-13

By the Numbers

Warner Bros. Discovery, Inc.

Communication Services · Entertainment

Market cap$69.57B
Enterprise value$99.19B
Trailing P/E
Forward P/E271.47x
EV / EBITDA12.73x
P / S (ttm)1.93x
Profit margin-8.8%
Return on equity-8.8%
Revenue growth-11.2%
Earnings growth-90.6%
Debt / equity94.20
Risk Metrics
Beta vs SPX1.41
Corr SPX0.45
Annual vol50.7%
Annual ret+81.1%
Sharpe1.60
Max DD-38.4%

Window: 504 trading days (504 obs)

Layer Breakdown
LayerRawContribution
Fundamental-0.31
Sector-0.02
Technical-0.14
Earnings+0.00
Sentiment+0.03

macro × 1.00 · 2026-08-13

Recent Sessions
DateOpenHighLowCloseVol
Aug 13$27.76$28.08$27.65$27.7525.19M
Aug 12$27.45$27.78$27.34$27.6525.57M
Aug 11$26.93$27.23$26.88$27.0720.15M
Aug 10$26.78$27.18$26.60$26.8718.38M
Aug 7$26.32$26.85$26.27$26.7812.23M