Warner Bros. Discovery annual debt-to-ebitda ratio
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2023
2025
Warner Bros. Discovery Debt-to-EBITDA Ratio Growth & History (WBD)
Warner Bros. Discovery's debt-to-ebitda ratio was 5.60 for fiscal 2025.
View full Warner Bros. Discovery company overviewWarner Bros. Discovery annual debt-to-ebitda ratio history
| Fiscal year | Period ended | Debt-to-EBITDA ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 5.60 | — | — |
| 2023 | 2023-12-31 | 7.03 | — | — |
| 2021 | 2021-12-31 | 4.35 | 0.14 | +3.40% |
| 2020 | 2020-12-31 | 4.21 | 0.45 | +12.00% |
| 2019 | 2019-12-31 | 3.76 | −1.28 | −25.43% |
| 2018 | 2018-12-31 | 5.04 | −9.11 | −64.37% |
| 2017 | 2017-12-31 | 14.15 | 10.83 | +326.79% |
| 2016 | 2016-12-31 | 3.31 | −0.02 | −0.46% |
| 2015 | 2015-12-31 | 3.33 | 0.72 | +27.73% |
| 2014 | 2014-12-31 | 2.61 | −0.27 | −9.46% |
| 2013 | 2013-12-31 | 2.88 | 0.24 | +9.17% |
| 2012 | 2012-12-31 | 2.64 | 0.44 | +20.16% |
| 2011 | 2011-12-31 | 2.20 | −0.19 | −7.94% |
| 2010 | 2010-12-31 | 2.38 | −0.03 | −1.44% |
| 2009 | 2009-12-31 | 2.42 | −0.15 | −5.88% |
| 2008 | 2008-12-31 | 2.57 | — | — |
Warner Bros. Discovery quarterly debt-to-ebitda ratio
Q4.09
Q1.10
Q2.10
Q3.10
Q4.10
Q1.11
Q2.11
Q3.11
Q4.11
Q1.12
Q2.12
Q3.12
Q4.12
Q1.13
Q2.13
Q3.13
Q4.13
Q1.14
Q2.14
Q3.14
Q4.14
Q1.15
Q2.15
Q3.15
Q4.15
Q1.16
Q2.16
Q3.16
Q4.16
Q1.17
Q2.17
Q3.17
Q4.17
Q1.18
Q2.18
Q3.18
Q4.18
Q1.19
Q2.19
Q3.19
Q4.19
Q1.20
Q2.20
Q3.20
Q4.20
Q1.21
Q2.21
Q3.21
Q4.21
Q1.22
Q2.22
Q3.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Debt-to-EBITDA ratio | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | 8.03 | 2.83 | +54.44% |
| Q1 2026 | 2026-03-31 | 8.44 | — | — |
| Q4 2025 | 2025-12-31 | 5.60 | — | — |
| Q3 2025 | 2025-09-30 | 5.09 | — | — |
| Q2 2025 | 2025-06-30 | 5.20 | — | — |
| Q1 2024 | 2024-03-31 | 5.97 | −95.90 | −94.14% |
| Q4 2023 | 2023-12-31 | 7.03 | — | — |
| Q3 2023 | 2023-09-30 | 8.93 | −78.38 | −89.77% |
| Q2 2023 | 2023-06-30 | 15.66 | −28.86 | −64.82% |
| Q1 2023 | 2023-03-31 | 101.87 | 97.99 | +2528.29% |
| Q3 2022 | 2022-09-30 | 87.31 | 82.96 | +1903.77% |
| Q2 2022 | 2022-06-30 | 44.52 | 40.33 | +963.62% |
| Q1 2022 | 2022-03-31 | 3.88 | −0.39 | −9.05% |
| Q4 2021 | 2021-12-31 | 4.35 | 0.14 | +3.40% |
| Q3 2021 | 2021-09-30 | 4.36 | 0.59 | +15.67% |
| Q2 2021 | 2021-06-30 | 4.19 | 0.49 | +13.24% |
| Q1 2021 | 2021-03-31 | 4.26 | 0.58 | +15.84% |
| Q4 2020 | 2020-12-31 | 4.21 | 0.45 | +12.00% |
| Q3 2020 | 2020-09-30 | 3.77 | 0.14 | +3.78% |
| Q2 2020 | 2020-06-30 | 3.70 | −0.31 | −7.71% |
| Q1 2020 | 2020-03-31 | 3.68 | −0.41 | −10.09% |
| Q4 2019 | 2019-12-31 | 3.76 | −1.28 | −25.43% |
| Q3 2019 | 2019-09-30 | 3.63 | −7.29 | −66.75% |
| Q2 2019 | 2019-06-30 | 4.00 | −10.93 | −73.18% |
| Q1 2019 | 2019-03-31 | 4.09 | −17.92 | −81.41% |
| Q4 2018 | 2018-12-31 | 5.04 | −9.11 | −64.37% |
| Q3 2018 | 2018-09-30 | 10.92 | 4.80 | +78.40% |
| Q2 2018 | 2018-06-30 | 14.93 | 11.54 | +339.56% |
| Q1 2018 | 2018-03-31 | 22.01 | 18.62 | +548.66% |
| Q4 2017 | 2017-12-31 | 14.15 | 10.83 | +326.79% |
| Q3 2017 | 2017-09-30 | 6.12 | 2.65 | +76.59% |
| Q2 2017 | 2017-06-30 | 3.40 | 0.02 | +0.73% |
| Q1 2017 | 2017-03-31 | 3.39 | −0.04 | −1.17% |
| Q4 2016 | 2016-12-31 | 3.31 | −0.02 | −0.46% |
| Q3 2016 | 2016-09-30 | 3.47 | 0.47 | +15.80% |
| Q2 2016 | 2016-06-30 | 3.37 | 0.33 | +10.86% |
| Q1 2016 | 2016-03-31 | 3.43 | 0.37 | +12.05% |
| Q4 2015 | 2015-12-31 | 3.33 | 0.72 | +27.73% |
| Q3 2015 | 2015-09-30 | 2.99 | 0.42 | +16.11% |
| Q2 2015 | 2015-06-30 | 3.04 | 0.46 | +18.01% |
| Q1 2015 | 2015-03-31 | 3.06 | 0.09 | +3.02% |
| Q4 2014 | 2014-12-31 | 2.61 | −0.27 | −9.46% |
| Q3 2014 | 2014-09-30 | 2.58 | −0.43 | −14.27% |
| Q2 2014 | 2014-06-30 | 2.58 | −0.56 | −17.98% |
| Q1 2014 | 2014-03-31 | 2.97 | −0.32 | −9.67% |
| Q4 2013 | 2013-12-31 | 2.88 | 0.24 | +9.17% |
| Q3 2013 | 2013-09-30 | 3.01 | 0.28 | +10.45% |
| Q2 2013 | 2013-06-30 | 3.14 | 0.41 | +15.06% |
| Q1 2013 | 2013-03-31 | 3.29 | 1.03 | +45.34% |
| Q4 2012 | 2012-12-31 | 2.64 | 0.44 | +20.16% |
| Q3 2012 | 2012-09-30 | 2.72 | 0.51 | +23.20% |
| Q2 2012 | 2012-06-30 | 2.73 | 0.38 | +16.16% |
| Q1 2012 | 2012-03-31 | 2.27 | 0.19 | +9.20% |
| Q4 2011 | 2011-12-31 | 2.20 | −0.19 | −7.94% |
| Q3 2011 | 2011-09-30 | 2.21 | −0.34 | −13.40% |
| Q2 2011 | 2011-06-30 | 2.35 | −0.36 | −13.31% |
| Q1 2011 | 2011-03-31 | 2.07 | −0.15 | −6.63% |
| Q4 2010 | 2010-12-31 | 2.38 | −0.03 | −1.44% |
| Q3 2010 | 2010-09-30 | 2.55 | — | — |
| Q2 2010 | 2010-06-30 | 2.71 | — | — |
| Q1 2010 | 2010-03-31 | 2.22 | — | — |
| Q4 2009 | 2009-12-31 | 2.42 | — | — |
Warner Bros. Discovery debt-to-ebitda ratio trends
Over the last five fiscal years, Warner Bros. Discovery's debt-to-ebitda ratio increased from 4.21 to 5.60, a change of 1.39. The latest reported quarter, Q2 2026, shows 8.03.
About the metric
What the debt-to-EBITDA ratio means
Debt-to-EBITDA compares interest-bearing debt with operating earnings before interest, taxes, depreciation, and amortization. It is commonly used to assess leverage, but it is generally unsuitable for banks and other financial companies.
Calculation and source
How debt-to-EBITDA is calculated
TickerStat divides period-end total debt by annual EBITDA. Quarterly observations use trailing-12-month EBITDA. Periods with zero or negative EBITDA are excluded because the leverage multiple would not be meaningful. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Warner Bros. Discovery source filings ↗Community posts
Warner Bros. Discovery and Miral reveal three Harry Potter lands for Abu Dhabi
Warner Bros. Discovery Global Experiences and Miral announced details of an Abu Dhabi theme-park expansion on 7 September 2026. Development scope The three Harry Potter lands are Diagon Alley, Hogwarts and the Forbidden Forest, covering app ...