Stocks›Consumer Cyclical›WMG

WMG

Warner Music Group Corp.

NasdaqResearch view

Warner Music Group Corp. operates in the Services-Amusement & Recreation Services industry.

$27.63+3.04%

Oct 5 close · 1D EOD · Databento

Consumer CyclicalServices-Amusement & Recreation ServicesMid-capSEC EDGAR FY 2025-09-30

What happened

Daily closes · dots are Wire stories

What’s next

Expected around early November, going by its own filing history. The company has not announced a date yet. Its matching report came Nov 20, 2025 and Nov 21, 2024, before the open.

Last report

Aug 3, 2026−3.31%

before the open

Last 4, next close

median 3.18% either way

up 2 of 4

Every report since 2022 →Earnings calendar →

DateEventSourceNext close

Aug 3Earnings release, before the open · 8-KSEC EDGARSEC EDGAR ↗−3.31%

Next close = the first close after the event against the close before it. Prior-session closes only; not a call, not advice.

What happened · big days

22 big days in a year, and what we hold on each

A big day is a close more than 3.73% from the one before, three times WMG’s median day (1.24%). On 6 of the 22, its peer group moved the same way at least half as far. We show what we hold. We never name a cause.

every other trading daya big day, numbered in the list below±3.73%Hover a bar for its day. Click a big day to open it.

Shaded: since our stories began, Jun 10. Tap a bar for its day.

#DayWMGWhat we hold that dayGroup (median of 4) · each

1 Nov 24, 2025−5.57%
Before our storiesgroup −0.4%, did not move with it
1Nov 24, 2025−5.57%
Before our stories
−0.4% did not move with itLYV −3.8 · LLYVA −2.8 · TKO +1.9 · SPHR +2.5
2 Jan 9, 2026+4.31%
Before our storiesgroup −1.0%, did not move with it
2Jan 9, 2026+4.31%
Before our stories
−1.0% did not move with itSPHR +4.3 · LYV −0.8 · LLYVA −1.2 · TKO −1.2
3 Feb 3, 2026−5.83%
Before our storiesgroup −0.7%, did not move with it
3Feb 3, 2026−5.83%
Before our stories
−0.7% did not move with itLLYVA −2.1 · LYV −1.8 · SPHR +0.4 · TKO +1.3
4 Feb 10, 2026+4.05%
Before our storiesgroup +1.9%, did not move with it
4Feb 10, 2026+4.05%
Before our stories
+1.9% did not move with itSPHR +2.7 · TKO +2.3 · LLYVA +1.6 · LYV +0.9
5 Feb 12, 2026−4.13%
Before our storiesgroup +2.9%, did not move with it
5Feb 12, 2026−4.13%
Before our stories
+2.9% did not move with itTKO −4.9 · LYV +2.5 · LLYVA +3.4 · SPHR +22.1
6 Feb 23, 2026−4.68%
Before our storiesgroup −2.5%, moved with WMG
6Feb 23, 2026−4.68%
Before our stories
−2.5% moved with WMGLYV −2.7 · SPHR −2.6 · TKO −2.5 · LLYVA −2.1
7 Feb 26, 2026+4.01%
Before our storiesgroup +2.0%, did not move with it
7Feb 26, 2026+4.01%
Before our stories
+2.0% did not move with itTKO +8.0 · LLYVA +2.1 · SPHR +1.9 · LYV +1.7
8 Mar 6, 2026−4.33%
Before our storiesgroup −2.4%, moved with WMG
8Mar 6, 2026−4.33%
Before our stories
−2.4% moved with WMGTKO −4.3 · LLYVA −2.5 · LYV −2.3 · SPHR −0.8
9 Mar 18, 2026−7.10%
Before our storiesgroup −0.3%, did not move with it
9Mar 18, 2026−7.10%
Before our stories
−0.3% did not move with itLLYVA −1.6 · SPHR −0.9 · TKO +0.3 · LYV +0.4
10 Mar 31, 2026+5.98%
Before our storiesgroup +3.7%, moved with WMG
10Mar 31, 2026+5.98%
Before our stories
+3.7% moved with WMGSPHR +10.2 · LLYVA +4.3 · TKO +3.2 · LYV +2.6
11 Apr 7, 2026+3.84%
Before our storiesgroup −1.4%, did not move with it
11Apr 7, 2026+3.84%
Before our stories
−1.4% did not move with itLLYVA −0.8 · LYV −1.1 · SPHR −1.6 · TKO −2.1
12 May 6, 2026+6.49%
Before our storiesgroup +5.0%, moved with WMG
12May 6, 2026+6.49%
Before our stories
+5.0% moved with WMGLYV +6.7 · SPHR +5.4 · LLYVA +4.7 · TKO +1.9
13 May 8, 2026+7.47%
Resultsgroup −1.7%, did not move with it
13May 8, 2026+7.47%
ResultsFirst close after the May 7 results filing
−1.7% did not move with itTKO −0.4 · LYV −1.5 · LLYVA −1.9 · SPHR −2.5
14 Jun 3, 2026−4.48%
Before our storiesgroup −2.5%, moved with WMG
14Jun 3, 2026−4.48%
Before our stories
−2.5% moved with WMGLLYVA −4.3 · TKO −2.9 · LYV −2.0 · SPHR −0.1
15 Jul 7, 2026+3.80%
Nothing on WMGgroup +0.8%, did not move with it
15Jul 7, 2026+3.80%
Nothing on WMGNo WMG story, brief or results filing in our record that day
+0.8% did not move with itSPHR +3.3 · LLYVA +1.0 · TKO +0.7 · LYV +0.3
16 Jul 14, 2026−4.07%
Nothing on WMGgroup −0.9%, did not move with it
16Jul 14, 2026−4.07%
Nothing on WMGNo WMG story, brief or results filing in our record that day
−0.9% did not move with itSPHR −5.5 · LYV −0.9 · LLYVA −0.8 · TKO +2.0
17 Jul 27, 2026+3.99%
Nothing on WMGgroup +2.0%, did not move with it
17Jul 27, 2026+3.99%
Nothing on WMGNo WMG story, brief or results filing in our record that day
+2.0% did not move with itLLYVA +3.3 · SPHR +2.7 · TKO +1.2 · LYV +1.2
18 Jul 28, 2026+4.17%
Nothing on WMGgroup +0.9%, did not move with it
18Jul 28, 2026+4.17%
Nothing on WMGNo WMG story, brief or results filing in our record that day
+0.9% did not move with itTKO +1.8 · SPHR +1.0 · LYV +0.8 · LLYVA +0.7
19 Jul 30, 2026−5.62%
Nothing on WMGgroup +0.8%, did not move with it
19Jul 30, 2026−5.62%
Nothing on WMGNo WMG story, brief or results filing in our record that day
+0.8% did not move with itTKO −1.9 · LYV −0.5 · LLYVA +2.0 · SPHR +5.8
20 Jul 31, 2026−5.81%
Nothing on WMGgroup −4.3%, moved with WMG
20Jul 31, 2026−5.81%
Nothing on WMGNo WMG story, brief or results filing in our record that day
−4.3% moved with WMGLLYVA −7.2 · LYV −5.1 · SPHR −3.4 · TKO −1.1
21 Aug 11, 2026−5.04%
Nothing on WMGgroup +0.0%, did not move with it
21Aug 11, 2026−5.04%
Nothing on WMGNo WMG story, brief or results filing in our record that day
+0.0% did not move with itLYV −0.7 · SPHR −0.1 · LLYVA +0.1 · TKO +2.8
22 Sep 3, 2026+4.23%
Nothing on WMGgroup −0.6%, did not move with it
22Sep 3, 2026+4.23%
Nothing on WMGNo WMG story, brief or results filing in our record that day
−0.6% did not move with itSPHR +1.7 · TKO −0.2 · LLYVA −1.1 · LYV −1.2

A story on the same day is not a cause, and a group move is not proof either. Group: the median of LYV, TKO, LLYVA and SPHR that day, the largest companies in WMG’s SEC industry; “moved with WMG” means the same direction and at least half the size.

What’s next · results

Before the next report: what the first day after the last four did

Six trading days after each results filing (SEC 8-K, Item 2.02). Day 1 is the first close after each filing: the next day’s for a filing after the close, the same day’s otherwise. 3 of 4 times, day 6 ended on the same side as day 1.

Reported Nov 20, 2025

day 1−2.66%day 6−7.41%

Reported Feb 5, 2026

day 1+3.05%day 6+4.47%

Reported May 7, 2026

day 1+7.47%day 6+7.70%

Reported Aug 3, 2026

day 1−3.31%day 6+1.73%

Next report: expected early-to-mid NovemberEstimated from the dates of its last four results filings. Not announced. Since the Aug 3 report: +3.29%. Four reports is a small sample.

Every report since 2022 →

Each line is WMG’s close against its close before the filing, on licensed end-of-day closes. What happened after each report, not a forecast; a move on the day is not a cause.

The numbers · FY2025, filed

SEC EDGAR

Market cap≥ $4.0B

Revenue$6.7B+4.40%

Net income$365.0M

Operating margin10.3%

Return on equity48.2%

Debt / equity5.91

All filed figures

Snapshot

SEC EDGAR · FY 2025-09-30

SectorConsumer Cyclical

Market Cap$4.0B

Enterprise Value$7.9B

Income$365.0M

Sales$6.7B

Book/sh$708138.45

Cash/sh$497661.37

Dividend TTM$0.73

Payout105%

Employees—

IPO—

Quick Ratio0.64

Current Ratio0.66

Debt/Eq5.91

EPS (ttm)—

EPS this Y—

EPS past 3/5Y—

Sales past 3/5Y4.3%

EPS Y/Y TTM—

Sales Y/Y TTM4.4%

Shs Outstand1,069

ROA3.7%

ROE48.2%

ROIC11.7%

Gross Margin—

Oper. Margin10.3%

Profit Margin5.4%

Every figure here is filed with the SEC. Valuation and estimate metrics (P/E, PEG, EV/EBITDA, price targets, forward EPS) are omitted until our market-data feed is licensed for display — we’d rather show fewer numbers than blank ones. Deeper lines (cash flow, balance sheet) below.

Revenue by fiscal year

$5.3B

FY21

$5.9B

FY22

$6.0B

FY23

$6.4B

FY24

$6.7B

FY25

Operating leverage — margins

GrossOperatingNet

Financials, annual · income and cash flowSEC EDGAR · open ▸

Financials — annual

SEC EDGAR · last 5 FY · tap a row to explain it

USD	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$5.3B	$5.9B	$6.0B	$6.4B	$6.7B
Gross Profit	—	—	—	—	—
Operating Income	$609.0M	$714.0M	$790.0M	$823.0M	$694.0M
Net Income	$304.0M	$551.0M	$430.0M	$435.0M	$365.0M
Diluted EPS	—	—	—	—	—
Operating Cash Flow	$638.0M	$742.0M	$687.0M	$754.0M	$678.0M
Free Cash Flow	—	$607.0M	$560.0M	$638.0M	$539.0M

Same industry

WMG against four same-industry peers, a year at 100

WMG is down 20.8% in a year. Sphere Entertainment is up 2.0 times, Liberty Live is up 8.9%, Live Nation Entertainment 8.0% and TKO Group is down 11.0%. All four did more. Weekly closes, Oct 3, 2025 = 100, on a log scale so a twofold rise and a 20.8% fall both read honestly.

Share this chart

WMG −20.8%. Sphere Entertainment ×2.0, Liberty Live +8.9%, Live Nation Entertainment +8.0%, TKO Group −11.0%. Weekly closes, Oct 3, 2025 = 100, log scale.

Share this chart

End-of-day closes (Databento EOD), the last close of each week. The four peers are the largest US-listed companies by market value in WMG’s SEC industry (Services-Amusement & Recreation Services) with a year of closes. It shows what the closes did; a move here is not a cause, a forecast or a call.

Same industry

In the screener →

LYV$39.8B TKO$34.1B LLYVA$8.9B SPHR$5.8B BATRA$3.7B FUN$1.2B ACEL$880M LUCK$723M

Build basket with WMG Screener

Fundamentals sourced from SEC EDGAR filings (public domain). For informational purposes only. Not investment advice.