TTM
6.2%
YoY change
−2.98pp
Trough year (2005)
-0.8%
Peak year (2019)
27.9%
Latest annual
8.3%
FCF Margin history chart for Warner Bros. Discovery (WBD) from 2003 to 2025
Latest: 8.3%
FCF Margin change chart for Warner Bros. Discovery (WBD) from 2003 to 2025
Latest: −2.98pp
FCF Margin history table for Warner Bros. Discovery (WBD) from 2003 to 2025
| 2025 | 8.3% | -2.98pp | ||
| 2024 | 11.3% | -3.65pp | ||
| 2023 | 14.9% | +5.10pp | ||
| 2022 | 9.8% | -10.08pp | ||
| 2021 | 19.9% | -2.01pp | ||
| 2020 | 21.9% | -6.01pp | ||
| 2019 | 27.9% | +4.89pp | ||
| 2018 | 23.0% | +1.28pp | ||
| 2017 | 21.7% | +1.85pp | ||
| 2016 | 19.9% | +1.26pp | ||
| 2015 | 18.6% | -0.50pp | ||
| 2014 | 19.1% | -2.02pp | ||
| 2013 | 21.1% | -1.64pp | ||
| 2012 | 22.8% | -2.22pp | ||
| 2011 | 25.0% | +8.30pp | ||
| 2010 | 16.7% | -0.27pp | ||
| 2009 | 17.0% | +3.41pp | ||
| 2008 | 13.6% | +0.41pp | ||
| 2007 | 13.2% | +13.74pp | ||
| 2006 | -0.6% | +0.17pp | ||
| 2005 | -0.8% | -6.30pp | ||
| 2004 | 5.5% | +4.80pp | ||
| 2003 | 0.8% | — |
- 20258.3%-2.98pp
- 202411.3%-3.65pp
- 202314.9%+5.10pp
- 20229.8%-10.08pp
- 202119.9%-2.01pp
- 202021.9%-6.01pp
- 201927.9%+4.89pp
- 201823.0%+1.28pp
- 201721.7%+1.85pp
- 201619.9%+1.26pp
- 201518.6%-0.50pp
- 201419.1%-2.02pp
- 201321.1%-1.64pp
- 201222.8%-2.22pp
- 201125.0%+8.30pp
- 201016.7%-0.27pp
- 200917.0%+3.41pp
- 200813.6%+0.41pp
- 200713.2%+13.74pp
- 2006-0.6%+0.17pp
- 2005-0.8%-6.30pp
- 20045.5%+4.80pp
- 20030.8%—
FCF Margin values are taken from Warner Bros. Discovery's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About FCF Margin at Warner Bros. Discovery (WBD)
According to Warner Bros. Discovery's latest reported financial statements, the company's latest reported free cash flow margin is 6.2%. Free cash flow margin is free cash flow divided by revenue — the share of each sales dollar that converts into cash after capital expenditures. Because free cash flow cannot be inflated by non-cash accounting, FCF margin is a clean read on how efficiently a business turns revenue into deployable cash.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
In 2025, Warner Bros. Discovery (WBD) free cash flow margin totalled 8.28% – contracted 3.0 percentage points year-over-year.
Across the available history, free cash flow margin reached its high of 27.91% in 2019 and its low of -0.75% in 2005.
Warner Bros. Discovery FCF Margin by Year
Warner Bros. Discovery FCF Margin 2025: 8.3%
Warner Bros. Discovery free cash flow margin in 2025 was 8.28%, contracted 3.0 percentage points from 2024.
Warner Bros. Discovery FCF Margin 2024: 11.3%
2024's free cash flow margin for Warner Bros. Discovery came in at 11.26%, contracted 3.7 percentage points from 2023.
Warner Bros. Discovery FCF Margin 2023: 14.9%
Warner Bros. Discovery posted free cash flow margin of 14.91% in 2023, expanded 5.1 percentage points from 2022.
Warner Bros. Discovery FCF Margin 2022: 9.8%
In 2022, Warner Bros. Discovery reported free cash flow margin of 9.81%, contracted 10.1 percentage points from 2021.
Warner Bros. Discovery FCF Margin 2021: 19.9%
Warner Bros. Discovery free cash flow margin in 2021 was 19.89%.
See more financial history for Warner Bros. Discovery (WBD).
Sector peers by FCF Margin
Communication Services peers of Warner Bros. Discovery (WBD), ranked by their latest free cash flow margin
| 25.4% | |
| 22.4% | |
| 20.1% | |
| 18.2% | |
| 15.2% | |
| 14.4% | |
| 13.7% | |
| 7.3% |
- 25.4%
- 22.4%
- 20.1%
- 18.2%
- 15.2%
- 14.4%
- 13.7%
Frequently asked questions
Warner Bros. Discovery (WBD) Key Financials
Charts, filings, and peer comparison for every metric
Explore more
Deep-dives across the income statement, cash flow, capital return, and valuation