The Bid & Ask

Quotations, Dispatches, and the Daily Tape

Thursday, August 13, 2026

Subject of the day

WMG

Concerning the House

Warner Music Group Corp. operates as a music entertainment company in the United States, the United Kingdom, Germany, and internationally. It operates through Recorded Music and Music Publishing segments. The company is involved in the discovery and development of recording artists, as well as related marketing, promotion, distribution, sale, and licensing of music created by recording artists; markets its music catalog through compilations and reissuances of previously released music and video titles, as well as previously unreleased materials. It also owns and acquires rights to approximately two million musical compositions comprising pop hits, American standards, folk songs, and motion picture and theatrical compositions, as well as administers the music and soundtracks of various third-party television and film producers and studios. In addition, the company conducts its operation primarily through a collection of record labels, such as Asylum, Big Beat, Canvasback, East West, Erato, FFRR, Nonesuch, Parlophone, Reprise, Sire, Spinnin' Records, and Warner Classics and Warner Records Nashville. Further, it markets, distributes, and sells music and video products to retailers and wholesale distributors; independent labels to retail and wholesale distributors; and various distribution centers and ventures, as well as retail outlets, online physical retailers, streaming services, and download services. Its catalog includes songwriters and composers; and various genres, including pop, rock, jazz, classical, country, R&B, hip-hop, rap, reggae, Latin, folk, alternative, blues, gospel, and other Christian music. The company was founded in 1929 and is headquartered in New York, New York.

United States · www.wmg.com

The Long Run

FY 2012–2025 · 14 years

LineLatestCAGRTrend
Revenue$6.04B+6.7%
Operating income$694.00M+28.4%
Net income$430.00M+84.2%
Cash from ops$687.00M+16.0%
Quotation

$25.34

+0.55 (+2.2%)

52w hi$34.56
52w lo$23.52
Vol1.86M
As ofAug 13
The Verdict

Hold

Our score -0.22

Short-0.03
Medium-0.39
Long-0.23

computed 2026-08-13

By the Numbers

Warner Music Group Corp.

Communication Services · Entertainment

Market cap$13.26B
Enterprise value$17.50B
Trailing P/E20.27x
Forward P/E12.86x
EV / EBITDA10.47x
P / S (ttm)1.81x
Profit margin9.2%
Return on equity70.1%
Revenue growth+10.4%
Earnings growth
Debt / equity452.95
Risk Metrics
Beta vs SPX0.54
Corr SPX0.30
Annual vol30.0%
Annual ret+2.5%
Sharpe0.08
Max DD-34.8%

Window: 504 trading days (504 obs)

Layer Breakdown
LayerRawContribution
Fundamental+0.26
Sector-0.02
Technical+0.00
Earnings+0.00
Sentiment+0.00

macro × 1.00 · 2026-08-13

Recent Sessions
DateOpenHighLowCloseVol
Aug 13$24.94$25.50$24.67$25.341.86M
Aug 12$25.07$25.33$24.51$24.793.09M
Aug 11$26.41$26.48$25.053.28M
Aug 10$26.16$26.67$26.06$26.411.30M
Aug 7$26.44$26.73$26.06$26.391.54M