The Walt Disney Company (DIS)
Extended size range · 2.54x market cap
Streaming entertainment. Streaming is one segment alongside parks, studios and linear television.
YouTube · Q2 FY2026 · 2026-07-02
WBD · NasdaqGS
Warner Bros. Discovery, Inc.
Entertainment · United States
USD 27.80-1.6% daily changeQuote 2026-09-18 · USD
- Market cap (USD)
- US$69.70B
- Trailing P/E
- —
- Forward P/E
- 397.14x
- Quarterly revenue growth
- -11.2%
- Trailing net margin
- -8.8%
- Indicated dividend yield
- —
Snapshot 2026-09-21 · Latest financial period 2026-06-30 · Yahoo Finance. Quotes may be delayed; reporting periods can differ.
Next earnings: 2026-11-05 (provider estimate, not issuer-confirmed).
Company background
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.
Company websiteQ2 2026
Go beyond the headline.
Warner Bros. Discovery (WBD): A $31 Deal And A $26 Stock
Published 2026-08-06
Short takes Q2 2026
WBD: A $31 Deal And A $26 Stock #shorts
Watch Short on YouTube
Comparable businesses
WBD peer comparison
Same business group first, then company size. Preferred market cap: 0.5–2x; extended range: one-third–3x. Outside that range, industry benchmarks are labeled separately and excluded from peer medians.
| Metric | WBDWarner Bros. Discovery, Inc.Snapshot 2026-09-21Financial period: 2026-06-30 | DISThe Walt Disney CompanySnapshot 2026-09-21Financial period: 2026-06-27 | NFLXNetflix, Inc.Snapshot 2026-09-21Financial period: 2026-06-30 |
|---|---|---|---|
| Market capMarket value, converted to USD | US$69.70B | US$177.28B | US$298.93B |
| Forward P/EProvider forward earnings estimate | 397.14x | 13.73x | 18.80x |
| EV / EBITDAEnterprise value / trailing EBITDA | 12.78x | 10.73x | 20.81x |
| Revenue growthLatest quarter vs prior-year quarter | -11.2% | 6.8% | 13.4% |
| Operating marginLatest reported quarter | 5.1% | 19.3% | 33.4% |
| Free cash flow yieldTrailing cash flow / market cap | 23.2% | 2.7% | 8.5% |
| Net debt / EBITDANet debt / trailing EBITDA | 3.67x | 1.95x | 0.51x |
| Debt / equityTotal debt / positive book equity | 0.94x | 0.39x | 0.55x |
| Trailing P/ETrailing twelve-month earnings | — | 21.17x | 22.58x |
| Price / bookPrice / positive book equity per share | 2.12x | 1.61x | 9.91x |
| EV / salesEnterprise value / trailing revenue | 2.76x | 2.27x | 6.34x |
| Earnings growthLatest quarter vs prior-year quarter | -90.6% | -48.3% | 11.1% |
| Gross marginTrailing twelve months | 47.8% | 37.6% | 49.1% |
| Net marginTrailing twelve months | -8.8% | 8.7% | 28.2% |
| Return on equityProvider trailing return; positive equity only | -8.8% | 8.0% | 49.5% |
| Free cash flow marginTrailing free cash flow / revenue | 44.8% | 4.9% | 52.5% |
| Dividend yieldIndicated annual dividend / price | — | 1.5% | — |
| Earnings payoutProvider trailing dividend payout | 0.0% | 30.9% | 0.0% |
| Current ratioCurrent assets / current liabilities | 0.78x | 0.71x | 1.14x |
| BetaProvider historical market sensitivity | 1.57 | 1.41 | 1.53 |
YouTube · Q2 FY2026 · 2026-07-02
YouTube · Q2 2026 · 2026-07-17
Comparison methodology & limitations
Reviewed operating groups override broad sector classifications. Other companies are matched only within a sufficiently specific provider industry. Business mix, geography and accounting standards can still differ. Market caps are converted to USD using exchange rates captured during the snapshot refresh. Financial ratios that would mix currencies are omitted. Snapshots must be at most 14 days old and no more than seven days apart for automatic selection.
Peer medians require at least two valid similar-size peers for each metric. Negative earnings, nonpositive equity, missing data and irrelevant bank ratios are not presented as attractive valuations. A higher or lower number is not automatically a better investment. Financial statement periods are not calendar-aligned across companies.
Reported performance
Financial trends
Periods are grouped by their ending calendar year or quarter, not identical fiscal calendars. Exact period-end dates appear in tooltips and reported figures. When reporting currencies differ and a recent captured FX rate is available, money and EPS are normalized to USD for comparison. This is not a historical FX restatement. Gaps are not estimated.
Financial statements load separately from the research page.
Source: . Window ends at the latest available reporting period.
Revenue
Reported figures
Financial data & calculation notes
Standalone charts use the stated reporting currency. When a chart comparison spans currencies, money and EPS can be normalized to USD using a recent captured FX snapshot; this is for comparison only, not a historical FX restatement. Stock-based compensation is noncash. Free cash flow is operating cash flow less capital spending, which may include capitalized software. Missing metrics are not estimated or assumed to be zero. Banking and insurance ratios require industry-specific interpretation. Latest restatements may differ from figures in older episodes.
Market context
Valuation & price history
Adjusted closing price
Price history loads separately.
Price figures
Earnings-multiple scenario
Illustrative price = your earnings-per-share assumption × your P/E assumption. This is not a price target or a complete valuation model.
Starting assumptions, when available, use provider forward estimates as of 2026-09-21. Negative earnings require a different valuation method. This calculation omits balance-sheet, dilution and execution risks.
THE RESEARCH RECORD
Research history for WBD
Q2 20262026-08-06
Warner Bros. Discovery (WBD): A $31 Deal And A $26 Stock
Presentation · 2026-08-06 · YouTube
Short takes Q2 2026
WBD: A $31 Deal And A $26 Stock #shorts
Watch Short on YouTube