Warner Music Group Corp. (WMG) Financial Statements
Industry: Amusement & Recreation Services (Services)
In fiscal 2025, Warner Music reported revenue of $6.71B, up 4.4% from $6.43B the year before. Net income was $365.0M (a 5.4% net margin), or $0.69 per diluted share. Gross margin was 45.8% and operating margin was 10.3%. Operating activities generated $678.0M of cash, leaving $539.0M of free cash flow. At fiscal year end, Warner Music held $9.83B in total assets against $9.07B in total liabilities, including $532.0M of cash and equivalents.
Open the full interactive Warner Music financials → Quarterly statements, key ratios, valuation history and price charts.
Warner Music Key Stats
| Share Price | $28.91 |
|---|---|
| Market Cap | $10.85B |
| P/E Ratio | 41.9 |
| Dividend Yield | 3.69% |
| Revenue YoY Growth | +4.4% |
| 52-Week Range | $23.35 – $34.31 |
| Shares Outstanding | 375.4 million (basic, 2026 Q3) |
Warner Music Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $4.46B | $5.30B | $5.92B | $6.04B | $6.43B | $6.71B |
| Cost of Goods Sold | $2.33B | $2.74B | $3.08B | $3.18B | $3.35B | $3.63B |
| Gross Profit | $2.13B | $2.56B | $2.84B | $2.86B | $3.07B | $3.08B |
| Operating Income | -$229.0M | $609.0M | $714.0M | $790.0M | $823.0M | $694.0M |
| Pre-Tax Income | -$447.0M | $456.0M | $740.0M | $609.0M | $601.0M | $490.0M |
| Income Tax | $23.0M | $149.0M | $185.0M | $170.0M | $123.0M | $120.0M |
| Net Income | -$475.0M | $304.0M | $551.0M | $430.0M | $435.0M | $365.0M |
| Diluted EPS | -$0.99 | $0.58 | $1.06 | $0.82 | $0.83 | $0.69 |
Warner Music Quarterly Results
| 2025 Q4 | 2026 Q1 | 2026 Q2 | 2026 Q3 | |
|---|---|---|---|---|
| Revenue | $1.87B | $1.84B | $1.73B | $1.86B |
| Net Income | $109.0M | $176.0M | $183.0M | $204.0M |
| Diluted EPS | $0.29 | $0.33 | $0.34 | $0.39 |
Warner Music Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $553.0M | $499.0M | $584.0M | $641.0M | $694.0M | $532.0M |
| Current Assets | $1.68B | $1.90B | $2.14B | $2.40B | $2.64B | $2.77B |
| Total Assets | $6.41B | $7.21B | $7.83B | $8.54B | $9.15B | $9.83B |
| Current Liabilities | $2.72B | $3.15B | $3.37B | $3.54B | $3.90B | $4.20B |
| Total Long-Term Debt | $3.10B | $3.35B | $3.73B | $3.96B | $4.01B | $4.37B |
| Total Liabilities | $6.46B | $7.17B | $7.66B | $8.12B | $8.48B | $9.07B |
| Shareholders' Equity | -$63.0M | $31.0M | $152.0M | $307.0M | $518.0M | $647.0M |
Warner Music Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $463.0M | $638.0M | $742.0M | $687.0M | $754.0M | $678.0M |
| Cash From Investing | -$219.0M | -$638.0M | -$824.0M | -$300.0M | -$311.0M | -$340.0M |
| Cash From Financing | -$316.0M | -$61.0M | $188.0M | -$325.0M | -$396.0M | -$497.0M |
| Free Cash Flow | $378.0M | $545.0M | $607.0M | $560.0M | $638.0M | $539.0M |
| Dividends Paid | $344.0M | $265.0M | $318.0M | $340.0M | $361.0M | $383.0M |
Figures from Warner Music's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Warner Music financials page for every line item.
Warner Music Company Profile
| Ticker | WMG |
|---|---|
| Exchange | Nasdaq |
| Industry | Amusement & Recreation Services (Services) |
| Headquarters | New York, New York |
| Incorporated in | Delaware |
| Fiscal Year End | September 30 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001319161 |
Frequently Asked Questions
What was Warner Music's revenue in fiscal 2025?
Warner Music (WMG) reported revenue of $6.71B for fiscal 2025.
What is Warner Music's annual revenue history?
Warner Music's annual revenue by fiscal year: 2020: $4.46B; 2021: $5.30B; 2022: $5.92B; 2023: $6.04B; 2024: $6.43B; 2025: $6.71B.
What was Warner Music's net income in fiscal 2025?
Warner Music reported net income of $365.0M for fiscal 2025.
What was Warner Music's earnings per share (EPS) in fiscal 2025?
Warner Music's diluted EPS was $0.69 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Warner Music generate in fiscal 2025?
Warner Music generated $539.0M of free cash flow in fiscal 2025.
What was Warner Music's revenue last quarter?
In its most recent reported quarter (2026 Q3), Warner Music reported revenue of $1.86B.
How much debt does Warner Music have?
Warner Music reported $4.37B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Warner Music are outstanding?
Warner Music reported a weighted average of 375.4 million basic shares outstanding in 2026 Q3.
What is Warner Music's market cap?
Based on its latest closing price, Warner Music (WMG) has a market capitalization of about $10.85B.
When does Warner Music's fiscal year end?
Warner Music's fiscal year end, as registered with the SEC, is September 30.
Where is Warner Music headquartered?
Warner Music lists its business address in New York, New York in its SEC filings.
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