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WMG · NasdaqGS

Warner Music Group Corp.

Entertainment · United States

USD 26.98-0.6% daily changeQuote 2026-09-28 · USD
Market cap (USD)
US$14.11B
Trailing P/E
21.58x
Forward P/E
13.69x
Quarterly revenue growth
10.4%
Trailing net margin
9.2%
Indicated dividend yield
3.0%

Snapshot 2026-09-28 · Latest financial period 2026-06-30 · Yahoo Finance. Quotes may be delayed; reporting periods can differ.

Next earnings: 2026-11-19 (provider estimate, not issuer-confirmed).

Company background

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.

Company website

Q3 FY2026

Go beyond the headline.

Warner Music (WMG) Q3 FY2026 Earnings: The CFO Quit Friday, So Monday They Pre-Released It

Published 2026-08-09

Comparable businesses

WMG 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.

Comparison stocks

Market metrics · missing or inapplicable values shown as —
MetricWMGWarner Music Group Corp.Snapshot 2026-09-28Financial period: 2026-06-30NWSANews CorporationSnapshot 2026-09-28Financial period: 2026-06-30PSKYParamount Skydance CorporationSnapshot 2026-09-28Financial period: 2026-06-30Peer medianSimilar-size peers only
Market capMarket value, converted to USDUS$14.11BUS$15.42BUS$11.60BUS$13.51Bn=2
Forward P/EProvider forward earnings estimate13.69x18.90x12.22x15.56xn=2
EV / EBITDAEnterprise value / trailing EBITDA11.20x12.66x8.09x10.38xn=2
Revenue growthLatest quarter vs prior-year quarter10.4%10.8%0.9%5.9%n=2
Operating marginLatest reported quarter16.7%12.5%9.3%10.9%n=2
Free cash flow yieldTrailing cash flow / market cap2.7%6.8%151.7%79.2%n=2
Net debt / EBITDANet debt / trailing EBITDA2.57x0.61x4.40x2.51xn=2
Debt / equityTotal debt / positive book equity4.53x0.32x1.26x0.79xn=2
Trailing P/ETrailing twelve-month earnings21.58x27.74x344.64x186.19xn=2
Price / bookPrice / positive book equity per share16.52x1.82x0.98x1.40xn=2
EV / salesEnterprise value / trailing revenue2.56x1.88x0.92x1.40xn=2
Earnings growthLatest quarter vs prior-year quarter—-74.9%-54.1%-64.5%n=2
Gross marginTrailing twelve months45.8%57.2%33.3%45.2%n=2
Net marginTrailing twelve months9.2%6.3%-2.1%2.1%n=2
Return on equityProvider trailing return; positive equity only70.1%8.0%-0.9%3.5%n=2
Free cash flow marginTrailing free cash flow / revenue5.2%11.6%60.4%36.0%n=2
Dividend yieldIndicated annual dividend / price3.0%0.7%1.9%1.3%n=2
Earnings payoutProvider trailing dividend payout60.8%19.4%666.7%343.0%n=2
Current ratioCurrent assets / current liabilities0.73x1.62x1.04x1.33xn=2
BetaProvider historical market sensitivity1.300.921.521.22n=2

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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

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Adjusted closing price

Price history

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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 2026-09-28. Negative earnings require a different valuation method. This calculation omits balance-sheet, dilution and execution risks.

THE RESEARCH RECORD

Research history for WMG

All available reporting periods
Q3 FY20262026-08-09

Reported figures

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