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Warner Music Group Corp.

WMG

Financial Statements

Income Statement (Annual)

Amounts in millions

2025

9/30/2025

Revenue
6,707
Cost of Revenue
3,632
Gross Profit
3,075
Gross Margin
45.8%
Operating Income
1,186
Operating Margin
17.7%
Net Income
365
Net Margin
5.4%
EPS (Basic)
$0.69
EPS (Diluted)
$0.69
EBITDA
1,070
EBITDA Margin
16.0%

2024

9/30/2024

Revenue
6,426
Cost of Revenue
3,355
Gross Profit
3,071
Gross Margin
47.8%
Operating Income
823
Operating Margin
12.8%
Net Income
435
Net Margin
6.8%
EPS (Basic)
$0.82
EPS (Diluted)
$0.84
EBITDA
1,089
EBITDA Margin
16.9%

2023

9/30/2023

Revenue
6,037
Cost of Revenue
3,177
Gross Profit
2,860
Gross Margin
47.4%
Operating Income
790
Operating Margin
13.1%
Net Income
430
Net Margin
7.1%
EPS (Basic)
$0.84
EPS (Diluted)
$0.84
EBITDA
1,082
EBITDA Margin
17.9%

2022

9/30/2022

Revenue
5,919
Cost of Revenue
3,080
Gross Profit
2,839
Gross Margin
48.0%
Operating Income
714
Operating Margin
12.1%
Net Income
551
Net Margin
9.3%
EPS (Basic)
$1.06
EPS (Diluted)
$1.06
EBITDA
1,204
EBITDA Margin
20.3%

2021

9/30/2021

Revenue
5,301
Cost of Revenue
2,742
Gross Profit
2,559
Gross Margin
48.3%
Operating Income
609
Operating Margin
11.5%
Net Income
304
Net Margin
5.7%
EPS (Basic)
$0.60
EPS (Diluted)
$0.60
EBITDA
884
EBITDA Margin
16.7%