Inside the research

Warner Bros. Discovery, Inc.

WBD Research profile · latest available data

Price overview

$30.86

▲ +0.02 (+0.1%)

52w hi$30.86
52w lo$17.10
Vol23.74M
As of25 Sep 2026

The Verdict

Hold

Our score -0.22

Short+0.30
Medium-0.25
Long-1.19

computed 2026-09-27

Key fundamentals

Warner Bros. Discovery, Inc.

Communication Services · Entertainment

Market cap$77.37B
Enterprise value$107.25B
Forward P/E495.98x
EV / EBITDA13.76x
P / S (ttm)2.14x
Profit margin-8.8%
Return on equity-8.8%
Revenue growth-11.2%
Earnings growth-90.6%
Debt / equity94.20

Layer Breakdown

LayerRawContribution
Fundamental-0.31
Sector+0.03
Technical+0.11
Earnings+0.00
Sentiment+0.00

macro × 1.00 · 2026-09-27

Business overview

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

Risk Metrics

Beta vs SPX1.37
Corr SPX0.45
Annual vol49.1%
Annual ret+77.6%
Sharpe1.58
Max DD-38.4%

Window: 504 trading days (504 obs)

Analyst Coverage

Mean PT$29.65
High / Low$31.25 / $26.00
Median$31.00
Analysts12
Strong Buy0
Buy1
Hold17
Sell2
Strong Sell1

Recent rating actions

2026-05-07UBS→ Neutral
2026-05-07Guggenheim→ Neutral
2026-03-10Freedom Broker→ Hold
2026-02-27TD Cowen→ Hold
2026-02-27Raymond James→ Underperform
2026-02-27Benchmark→ Hold

Material Events

DateEvent8-K
2026-08-06Earnings Release, Reg FD Disclosure…read
2026-06-12Shareholder Voteread
2026-06-04Material Agreement, Material Obligation…read
2026-05-27Material Agreement, 3.03…read
2026-05-19Other Material Event, Exhibitsread
2026-05-06Earnings Release, Reg FD Disclosure…read
2026-04-30Officer / Director Change, Exhibitsread
2026-04-23Shareholder Voteread
2026-03-16Officer / Director Change, Exhibitsread
2026-02-27Material Agreement, Termination of Agreement…read
2026-02-26Earnings Release, Reg FD Disclosure…read
2026-02-18Material Agreement, Material Obligation…read

Insider Trades

DateInsiderRoleActionSharesValue
2026-08-14Zaslav DavidChief Executive Officer &Sell195.00K$5.46M
2026-08-14Zaslav DavidChief Executive Officer &Option exercise195.00K$1.98M
2026-08-13Zaslav DavidChief Executive Officer &Sell94.91K$2.66M
2026-08-13Zaslav DavidChief Executive Officer &Option exercise678.27K$6.89M
2026-08-13Merchant Fazal FSell71.54K$1.99M
2026-08-13Zaslav DavidChief Executive Officer &Sell678.27K$19.00M
2026-08-12FISHER RICHARD WSell20.00K$549.20K
2026-08-11Di Piazza Samuel A Jr.I82.42K$2.23M
2026-08-11LOWE KENNETH WSell120.00K$3.24M
2026-08-10Zeiler GerhardPresident, InternationalSell100.00K$2.71M

Flow & Concentration

Insider 180d net-$108.35M
Insider buys / sells0 / 12
Insider biasSellers
13F holders8
Top-5 share97.7%
HHI2,459 (moderate)

Top Holders

HolderValueShares
State Street Corp$3.42B128.36M
Citadel Advisors$1.92B71.92M
Millennium Management$1.69B63.22M
Fidelity / FMR LLC$1.23B46.26M
Capital Research / Capital World$581.89M21.83M
Renaissance Technologies$162.18M6.08M
AQR Capital Management$41.42M1.55M
T. Rowe Price Group$95.98K3.60M

As of 2026-06-30

Connections

Subsidiarys: Streaming and Studios

SEC Filings

DateFormDoc
2026-08-144view
2026-08-144view
2026-08-144view
2026-08-124view
2026-08-124view
2026-08-124view
2026-08-124view
2026-08-068-Kview
2026-08-0610-Qview
2026-07-154view
2026-07-014view
2026-06-164view
2026-06-128-Kview
2026-06-114view
2026-06-114view

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%

Indices

NASDAQ-100S&P 500

Recent Sessions

DateOpenHighLowCloseVol
Sep 25$30.80$30.87$30.80$30.8623.74M
Sep 24$30.79$30.87$30.71$30.8446.11M
Sep 23$30.80$30.82$30.68$30.76111.09M
Sep 22$30.83$30.84$30.77$30.83109.81M
Sep 21$29.76$30.92$29.65$30.80234.09M

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