Warner Bros. Discovery Valuation Multiples

Warner Bros. Discovery Overview

About Warner Bros. Discovery

Warner Bros. Discovery operates in three segments: streaming, studios, and linear networks. In 2026, it intends to split its networks from streaming and studios to form two separate companies. The streaming business includes HBO Max, which is rapidly increasing its international footprint in addition to its major presence in the US. Studios include industry leaders in both film and television, which produce movies and television series that are monetized in multiple ways, including theatrical release, sales to third parties, and feeding into Warner's own platforms. global networks consist of basic cable networks like CNN, TNT, TBS, Discovery, HGTV, and The Food Network. The Discovery+ streaming service will remain part of global networks.

Founded

2008

HQ

Employees

35.0K

Website

wbd.com

Sectors

Content ProductionTV BroadcastingStreamingConsumer SaaS

Financials (LTM)

Revenue: $37B

EBITDA: $9B

EV

$97B

Valuation Multiples

Multiples.vc

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Warner Bros. Discovery Financials

Warner Bros. Discovery reported last 12-month revenue of $37B and EBITDA of $9B.

In the same LTM period, Warner Bros. Discovery generated $14B in gross profit, $9B in EBITDA, and $460M in net income.

Warner Bros. Discovery P&L

In the most recent fiscal year, Warner Bros. Discovery reported revenue of $37B and EBITDA of $21B.

Warner Bros. Discovery expects next 12-month revenue of XXX and NTM EBITDA of XXX

Warner Bros. Discovery Stock Performance

Warner Bros. Discovery has current market cap of $69B, and enterprise value of $97B.

Warner Bros. Discovery's stock price is $27.45.

Warner Bros. Discovery Valuation Multiples

Warner Bros. Discovery trades at 2.6x EV/Revenue multiple, and 11.2x EV/EBITDA.

Warner Bros. Discovery Financial Valuation Multiples

As of April 18, 2026, Warner Bros. Discovery has market cap of $69B and EV of $97B.

Equity research analysts estimate Warner Bros. Discovery's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Warner Bros. Discovery has a P/E ratio of 149.5x.

Warner Bros. Discovery Margins & Growth Rates

Warner Bros. Discovery's revenue in the last 12 month grew by 1%.

Warner Bros. Discovery's revenue per employee in the last FY averaged $1.1M, while opex per employee averaged $0.4M for the same period.

Warner Bros. Discovery's rule of 40 is 23% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Warner Bros. Discovery's rule of X is 24% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

Warner Bros. Discovery Public Comps

See public comps and valuation multiples for other Content Production and TV Broadcasting comps.

Warner Bros. Discovery M&A Activity

Warner Bros. Discovery acquired XXX companies to date.

Last acquisition by Warner Bros. Discovery was on XXXXXXXX, XXXXX. Warner Bros. Discovery acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).

Warner Bros. Discovery Investment Activity

Warner Bros. Discovery invested in XXX companies to date.

Warner Bros. Discovery made its latest investment on XXXXXXXX, XXXXX. Warner Bros. Discovery invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).