Communication Services · Entertainment
Price
$28.28
Market Cap
$14.8B
Employees
5,800
Beta
1.29
Avg Volume
2,372,767
CEO
Robert Kyncl
Warner Music Group Corp. (WMG), established in 1929 and based in New York City, functions as a prominent global entertainment enterprise primarily focused on music. Its operations span the United States, the United Kingdom, Germany, and numerous other international markets. The company's activities are organized into two distinct divisions: Recorded Music and Music Publishing. The Recorded Music division is dedicated to identifying and cultivating emerging musical talent. It handles the subsequent marketing, promotional campaigns, distribution logistics, sales, and licensing of the recordings produced by these artists. This segment also actively markets its vast catalog of existing music, issuing compilations, re-releases of classic tracks and videos, and previously unreleased material. Its operations are chiefly conducted through a diverse portfolio of renowned record labels, including but not limited to Warner Records, Atlantic Records, Asylum, Big Beat, Canvasback, East West, Erato, FFRR, Fueled by Ramen, Nonesuch, Parlophone, Reprise, Roadrunner, Sire, Spinnin' Records, Warner Classics, and Warner Music Nashville. Music and video products are distributed and sold by this division to a wide array of channels, encompassing direct retailers, wholesale distributors, independent labels, various distribution centers and joint ventures, physical retail locations, online stores, streaming platforms, and digital download services. The Music Publishing division is responsible for owning and acquiring the intellectual property rights to approximately one million musical compositions. This extensive collection includes iconic pop hits, American classics, folk melodies, and scores for motion pictures and theatrical productions. Its comprehensive catalog represents the work of roughly 100,000 songwriters and composers, covering an expansive spectrum of musical styles such as pop, rock, jazz, classical, country, R&B, hip-hop, rap, reggae, Latin, folk, blues, symphonic, soul, Broadway, electronic, alternative, and gospel. Furthermore, this segment provides administrative services for the musical scores and soundtracks associated with various external television and film production companies and studios.
Runs with full report
Price Overview
Last updated: Jul 6, 2026 1:26pm (just now)
Current data · timestamped when a report runs
$27.79
Change · Jul 6
-0.49 (-1.73%)
Day Range
$27.07 – $28.06
52-Week Range
$23.34 – $35.42
50-Day MA
$30.09
200-Day MA
$29.77
Volume
978,334.80
Analyst Price Targets
Low
$36.00
Consensus
$39.60
High
$43.00
(48 analysts)
Share Structure
Outstanding
521,850,518.00
Float
511,290,350.00
Free Float
98.0%
High free float
— 98.0% of shares trade freely, ~2% held by insiders/institutions
Very liquid — most shares trade freely. Low insider ownership can mean less management alignment, but makes large position sizing straightforward.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
APIStock Price / EPS (Diluted)
31.91
Stock Price: $28.28
EPS (Diluted): 0.70
EPS (Diluted): 0.70
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
27.32
Stock Price: $28.28
Total Equity: $647.00M
Shares: 519,047,619
Total Equity: $647.00M
Shares: 519,047,619
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
14.90
Market Cap: $14.76B
Total Debt: $4.37B
Cash: $532.00M
EBITDA: $1.11B
Total Debt: $4.37B
Cash: $532.00M
EBITDA: $1.11B
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$21.8B
Market Cap: $14.76B
Total Debt: $4.37B
Cash: $532.00M
Total Debt: $4.37B
Cash: $532.00M
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
45.8%
Gross Profit: $3.08B
Revenue: $6.71B
Revenue: $6.71B
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
10.3%
Operating Income: $694.00M
Revenue: $6.71B
Revenue: $6.71B
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
5.4%
Net Income: $365.00M
Revenue: $6.71B
Revenue: $6.71B
ROE (Profit from shareholder equity)
APINet Income / Total Equity
67.1%
Net Income: $365.00M
Total Equity: $647.00M
Total Equity: $647.00M
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
11.0%
Operating Income: $694.00M
Tax Rate: 24.5%
Equity: $647.00M
Total Debt: $4.37B
Cash: $532.00M
Tax Rate: 24.5%
Equity: $647.00M
Total Debt: $4.37B
Cash: $532.00M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
0.66
Current Assets: $2.77B
Current Liabilities: $4.20B
Current Liabilities: $4.20B
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
6.75
Short-Term Debt: $0.00
Long-Term Debt: $4.37B
Total Debt: $4.37B
Total Equity: $647.00M
Long-Term Debt: $4.37B
Total Debt: $4.37B
Total Equity: $647.00M
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$12.92
Revenue: $6.71B
Shares: 519,047,619
Shares: 519,047,619
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$1.25
Total Equity: $647.00M
Shares: 519,047,619
Shares: 519,047,619
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$1.04
Operating CF: $678.00M
CapEx: -$139.00M
Shares: 519,047,619
CapEx: -$139.00M
Shares: 519,047,619
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
2.2%
Last Dividend: N/A
Stock Price: $28.28
Stock Price: $28.28
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $365.00M
Net Income: $365.00M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares WMG against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jul 6, 2026 1:26pm (just now)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $5.3B | $5.9B | $6.0B | $6.4B | $6.7B |
| Cost of Revenue | $2.7B | $3.1B | $3.2B | $3.4B | $3.6B |
| Gross Profit | $2.6B | $2.8B | $2.9B | $3.1B | $3.1B |
| Operating Expenses | $2.0B | $2.1B | $2.1B | $2.2B | $2.4B |
| Operating Income | $609.0M | $714.0M | $790.0M | $823.0M | $694.0M |
| Net Income | $304.0M | $551.0M | $430.0M | $435.0M | $365.0M |
| EBITDA | $884.0M | $1.2B | $1.1B | $1.1B | $1.1B |
| EPS | $0.58 | $1.06 | $0.82 | $0.83 | $0.70 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jul 6, 2026 1:26pm (just now)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $499.0M | $584.0M | $641.0M | $694.0M | $532.0M |
| Total Current Assets | $1.9B | $2.1B | $2.4B | $2.6B | $2.8B |
| Total Assets | $7.2B | $7.8B | $8.5B | $9.2B | $9.8B |
| Current Liabilities | $3.2B | $3.4B | $3.5B | $3.9B | $4.2B |
| Long-Term Debt | $3.3B | $3.7B | $4.0B | $4.0B | $4.4B |
| Total Liabilities | $7.2B | $7.7B | $8.1B | $8.5B | $9.1B |
| Total Equity | $31.0M | $152.0M | $307.0M | $518.0M | $647.0M |
| Retained Earnings | -$1.7B | -$1.5B | -$1.4B | -$1.3B | -$1.3B |
Cash Flow (Annual)
Last updated: Jul 6, 2026 1:26pm (just now)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $638.0M | $742.0M | $687.0M | $754.0M | $678.0M |
| Capital Expenditure | -$574.0M | -$326.0M | -$241.0M | -$116.0M | -$139.0M |
| Free Cash Flow | $64.0M | $416.0M | $446.0M | $638.0M | $539.0M |
| Acquisitions (net) | $0 | $0 | $45.0M | $19.0M | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | -$6.0M | $0 | -$5.0M | -$16.0M |
| Net Change in Cash | -$54.0M | $85.0M | $57.0M | $53.0M | -$162.0M |
Analyst Estimates (Annual)
Last updated: Jul 6, 2026 1:26pm (just now)| Metric | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|
| Revenue |
$7.7B $7.5B – $7.9B
|
$8.2B $8.2B – $8.2B
|
$8.7B $8.5B – $8.9B
|
$9.2B $9.0B – $9.4B
|
| EBITDA |
$1.4B $1.3B – $1.4B
|
$1.5B $1.5B – $1.5B
|
$1.5B $1.5B – $1.6B
|
$1.6B $1.6B – $1.7B
|
| Net Income |
$926.7M $833.7M – $1.0B
|
$1.0B $868.3M – $1.1B
|
$878.5M $854.3M – $907.5M
|
$1.3B $1.3B – $1.3B
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jul 6, 2026 1:26pm (just now)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +11.7% | +2.0% | +6.4% | +4.4% |
| Gross Profit Growth | +10.9% | +0.7% | +7.4% | +0.1% |
| Operating Income Growth | +17.2% | +10.6% | +4.2% | -15.7% |
| Net Income Growth | +81.3% | -22.0% | +1.2% | -16.1% |
| EBITDA Growth | +36.2% | -10.1% | +0.6% | +2.3% |
Dividend History (Last 20)
Last updated: Jul 6, 2026 1:26pm (just now)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2026-05-26 | $0.19 | 2026-05-07 | 2026-05-26 | 2026-06-02 |
| 2026-02-18 | $0.19 | 2026-02-05 | 2026-02-18 | 2026-03-03 |
| 2025-11-19 | $0.19 | 2025-11-07 | 2025-11-19 | 2025-12-02 |
| 2025-08-20 | $0.19 | 2025-08-07 | 2025-08-20 | 2025-09-03 |
| 2025-05-27 | $0.18 | 2025-05-16 | 2025-05-27 | 2025-06-03 |
| 2025-02-24 | $0.18 | 2025-02-14 | 2025-02-24 | 2025-03-04 |
| 2024-11-19 | $0.18 | 2024-11-08 | 2024-11-19 | 2024-12-03 |
| 2024-08-27 | $0.18 | 2024-08-15 | 2024-08-27 | 2024-09-04 |
| 2024-05-22 | $0.17 | 2024-05-13 | 2024-05-23 | 2024-06-03 |
| 2024-02-21 | $0.17 | 2024-02-12 | 2024-02-22 | 2024-03-01 |
| 2023-11-20 | $0.17 | 2023-11-09 | 2023-11-21 | 2023-12-01 |
| 2023-08-23 | $0.17 | 2023-08-14 | 2023-08-24 | 2023-09-01 |
| 2023-05-22 | $0.16 | 2023-05-12 | 2023-05-23 | 2023-06-01 |
| 2023-02-17 | $0.16 | 2023-02-10 | 2023-02-21 | 2023-03-01 |
| 2022-11-21 | $0.16 | 2022-11-10 | 2022-11-22 | 2022-12-01 |
| 2022-08-23 | $0.16 | 2022-08-12 | 2022-08-24 | 2022-09-01 |
| 2022-05-20 | $0.15 | 2022-05-13 | 2022-05-23 | 2022-06-01 |
| 2022-02-17 | $0.15 | 2022-02-08 | 2022-02-18 | 2022-03-01 |
| 2021-11-22 | $0.15 | 2021-11-09 | 2021-11-23 | 2021-12-01 |
| 2021-08-24 | $0.15 | 2021-08-13 | 2021-08-25 | 2021-09-01 |
Insider Trading (Recent)
Type codes
PPurchase
SSale
AAward / grant
MOption exercise
FIn-kind (tax)
CConversion
GGift
DReturn to issuer
All SEC Form 4 codes
Open market
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
Compensation (Rule 16b-3)
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
Derivatives
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
Other exempt
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
Other
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-06-02 | Kreiz Ynon | A-Award | 38.00 | $0.00 | $0 |
| 2026-06-02 | Hertz Noreena | A-Award | 38.00 | $0.00 | $0 |
| 2026-06-02 | Lynton Michael | A-Award | 56.00 | $0.00 | $0 |
| 2026-06-02 | Kurzman Cecelia | A-Award | 38.00 | $0.00 | $0 |
| 2026-06-02 | Dopfner Mathias | A-Award | 38.00 | $0.00 | $0 |
| 2026-06-02 | Dubuc Nancy | A-Award | 38.00 | $0.00 | $0 |
| 2026-05-21 | ZERZA ARMIN | G-Gift | 27,521.00 | $0.00 | $0 |
| 2026-05-12 | ZERZA ARMIN | A-Award | 209,132.00 | $0.00 | $0 |
| 2026-05-12 | ZERZA ARMIN | F-InKind | 27,064.00 | $33.60 | $909,350 |
| 2026-04-16 | AI Entertainment Holdings LLC | J-Other | 280,000.00 | $0.00 | $0 |
| 2026-04-16 | Blavatnik Valentin | J-Other | 280,000.00 | $0.00 | $0 |
| 2026-03-04 | Hertz Noreena | A-Award | 6,186.00 | $0.00 | $0 |
| 2026-03-04 | Hertz Noreena | F-InKind | 1,629.00 | $28.29 | $46,084 |
| 2026-03-04 | Dopfner Mathias | A-Award | 6,186.00 | $0.00 | $0 |
| 2026-03-04 | Dopfner Mathias | F-InKind | 1,629.00 | $28.29 | $46,084 |
| 2026-03-04 | Lynton Michael | A-Award | 9,014.00 | $0.00 | $0 |
| 2026-03-04 | Dubuc Nancy | A-Award | 6,186.00 | $0.00 | $0 |
| 2026-03-04 | Kreiz Ynon | A-Award | 6,186.00 | $0.00 | $0 |
| 2026-03-04 | Kurzman Cecelia | A-Award | 6,186.00 | $0.00 | $0 |
| 2026-02-12 | Karp Hannah Jasmine | A-Award | 19,225.00 | $0.00 | $0 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for WMG — it's generated by the pipeline (
market-narrative step).
No community reviews yet for WMG.
Be the first — hit How to Contribute, have any AI review this page, and paste its take back here.
My Notes
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.385 · 13137db3 · 2026-07-06 00:11:52