Warner Bros. Discovery annual free cash flow
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2025
Warner Bros. Discovery Free Cash Flow (FCF) History (WBD)
Warner Bros. Discovery reported $3.09B in free cash flow for fiscal 2025, a decrease of 30.25% from the previous fiscal year, with a free cash flow margin of 8.28%.
View full Warner Bros. Discovery company overviewWarner Bros. Discovery free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | $3.09B | −$1.34B | −30.25% | +8.28% |
| 2024 | 2024-12-31 | $4.43B | −$1.73B | −28.14% | +11.26% |
| 2023 | 2023-12-31 | $6.16B | $2.84B | +85.74% | +14.91% |
| 2022 | 2022-12-31 | $3.32B | $892.0M | +36.78% | +9.81% |
| 2021 | 2021-12-31 | $2.42B | $88.0M | +3.77% | +19.89% |
| 2020 | 2020-12-31 | $2.34B | −$773.0M | −24.86% | +21.90% |
| 2019 | 2019-12-31 | $3.11B | $681.0M | +28.04% | +27.91% |
| 2018 | 2018-12-31 | $2.43B | $935.0M | +62.58% | +23.02% |
| 2017 | 2017-12-31 | $1.49B | $202.0M | +15.63% | +21.74% |
| 2016 | 2016-12-31 | $1.29B | $101.0M | +8.48% | +19.89% |
| 2015 | 2015-12-31 | $1.19B | −$7.0M | −0.58% | +18.63% |
| 2014 | 2014-12-31 | $1.20B | $28.0M | +2.39% | +19.12% |
| 2013 | 2013-12-31 | $1.17B | $148.0M | +14.48% | +21.14% |
| 2012 | 2012-12-31 | $1.02B | −$20.0M | −1.92% | +22.78% |
| 2011 | 2011-12-31 | $1.04B | $423.0M | +68.34% | +25.00% |
| 2010 | 2010-12-31 | $619.0M | $32.0M | +5.45% | +16.70% |
| 2009 | 2009-12-31 | $587.0M | $116.0M | +24.63% | +16.98% |
| 2008 | 2008-12-31 | $471.0M | $460.0M | +4181.82% | +13.93% |
| 2007 | 2007-12-31 | $11.0M | — | — | +14.47% |
Warner Bros. Discovery quarterly free cash flow
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Q2.26
| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $572.0M | −$130.0M | −18.52% | +6.56% |
| Q1 2026 | 2026-03-31 | −$476.0M | −$778.0M | — | −5.35% |
| Q4 2025 | 2025-12-31 | $1.38B | −$1.05B | −43.06% | +14.62% |
| Q3 2025 | 2025-09-30 | $701.0M | $69.0M | +10.92% | +7.75% |
| Q2 2025 | 2025-06-30 | $702.0M | −$274.0M | −28.07% | +7.15% |
| Q1 2025 | 2025-03-31 | $302.0M | −$88.0M | −22.56% | +3.36% |
| Q4 2024 | 2024-12-31 | $2.43B | −$881.0M | −26.62% | +24.22% |
| Q3 2024 | 2024-09-30 | $632.0M | −$1.43B | −69.31% | +6.57% |
| Q2 2024 | 2024-06-30 | $976.0M | −$746.0M | −43.32% | +10.05% |
| Q1 2024 | 2024-03-31 | $390.0M | $1.32B | — | +3.92% |
| Q4 2023 | 2023-12-31 | $3.31B | $828.0M | +33.36% | +32.19% |
| Q3 2023 | 2023-09-30 | $2.06B | $2.25B | — | +20.63% |
| Q2 2023 | 2023-06-30 | $1.72B | $933.0M | +118.25% | +16.62% |
| Q1 2023 | 2023-03-31 | −$930.0M | −$1.17B | — | −8.69% |
| Q4 2022 | 2022-12-31 | $2.48B | $1.70B | +216.58% | +22.55% |
| Q3 2022 | 2022-09-30 | −$192.0M | −$897.0M | — | −1.95% |
| Q2 2022 | 2022-06-30 | $789.0M | $32.0M | +4.23% | +8.03% |
| Q1 2022 | 2022-03-31 | $238.0M | $59.0M | +32.96% | +7.53% |
| Q4 2021 | 2021-12-31 | $784.0M | $343.0M | +77.78% | +24.60% |
| Q3 2021 | 2021-09-30 | $705.0M | −$82.0M | −10.42% | +22.38% |
| Q2 2021 | 2021-06-30 | $757.0M | −$122.0M | −13.88% | +24.72% |
| Q1 2021 | 2021-03-31 | $179.0M | −$51.0M | −22.17% | +6.41% |
| Q4 2020 | 2020-12-31 | $441.0M | −$691.0M | −61.04% | +15.28% |
| Q3 2020 | 2020-09-30 | $787.0M | −$97.0M | −10.97% | +30.73% |
| Q2 2020 | 2020-06-30 | $879.0M | $283.0M | +47.48% | +34.59% |
| Q1 2020 | 2020-03-31 | $230.0M | −$268.0M | −53.82% | +8.57% |
| Q4 2019 | 2019-12-31 | $1.13B | $244.0M | +27.48% | +39.39% |
| Q3 2019 | 2019-09-30 | $884.0M | −$23.0M | −2.54% | +33.01% |
| Q2 2019 | 2019-06-30 | $596.0M | $74.0M | +14.18% | +20.66% |
| Q1 2019 | 2019-03-31 | $498.0M | $386.0M | +344.64% | +18.40% |
| Q4 2018 | 2018-12-31 | $888.0M | $458.0M | +106.51% | +31.61% |
| Q3 2018 | 2018-09-30 | $907.0M | $208.0M | +29.76% | +34.99% |
| Q2 2018 | 2018-06-30 | $522.0M | $365.0M | +232.48% | +18.35% |
| Q1 2018 | 2018-03-31 | $112.0M | −$96.0M | −46.15% | +4.85% |
| Q4 2017 | 2017-12-31 | $430.0M | −$97.0M | −18.41% | +23.07% |
| Q3 2017 | 2017-09-30 | $699.0M | $281.0M | +67.22% | +42.34% |
| Q2 2017 | 2017-06-30 | $157.0M | −$143.0M | −47.67% | +9.00% |
| Q1 2017 | 2017-03-31 | $208.0M | $161.0M | +342.55% | +12.90% |
| Q4 2016 | 2016-12-31 | $527.0M | −$88.0M | −14.31% | +31.52% |
| Q3 2016 | 2016-09-30 | $418.0M | $184.0M | +78.63% | +26.86% |
| Q2 2016 | 2016-06-30 | $300.0M | −$13.0M | −4.15% | +17.56% |
| Q1 2016 | 2016-03-31 | $47.0M | $18.0M | +62.07% | +3.01% |
| Q4 2015 | 2015-12-31 | $615.0M | $225.0M | +57.69% | +37.36% |
| Q3 2015 | 2015-09-30 | $234.0M | −$159.0M | −40.46% | +15.03% |
| Q2 2015 | 2015-06-30 | $313.0M | $111.0M | +54.95% | +18.92% |
| Q1 2015 | 2015-03-31 | $29.0M | −$184.0M | −86.38% | +1.89% |
| Q4 2014 | 2014-12-31 | $390.0M | $74.0M | +23.42% | +23.27% |
| Q3 2014 | 2014-09-30 | $393.0M | −$45.0M | −10.27% | +25.06% |
| Q2 2014 | 2014-06-30 | $202.0M | −$109.0M | −35.05% | +12.55% |
| Q1 2014 | 2014-03-31 | $213.0M | $108.0M | +102.86% | +15.10% |
| Q4 2013 | 2013-12-31 | $316.0M | $12.0M | +3.95% | +20.56% |
| Q3 2013 | 2013-09-30 | $438.0M | $85.0M | +24.08% | +31.85% |
| Q2 2013 | 2013-06-30 | $311.0M | $173.0M | +125.36% | +21.20% |
| Q1 2013 | 2013-03-31 | $105.0M | −$122.0M | −53.74% | +9.08% |
| Q4 2012 | 2012-12-31 | $304.0M | −$20.0M | −6.17% | +25.33% |
| Q3 2012 | 2012-09-30 | $353.0M | $39.0M | +12.42% | +32.81% |
| Q2 2012 | 2012-06-30 | $138.0M | −$60.0M | −30.30% | +12.26% |
| Q1 2012 | 2012-03-31 | $227.0M | $21.0M | +10.19% | +20.92% |
| Q4 2011 | 2011-12-31 | $324.0M | $121.0M | +59.61% | +29.29% |
| Q3 2011 | 2011-09-30 | $314.0M | −$32.0M | −9.25% | +29.07% |
| Q2 2011 | 2011-06-30 | $198.0M | $242.0M | — | +18.89% |
| Q1 2011 | 2011-03-31 | $206.0M | $92.0M | +80.70% | +22.06% |
| Q4 2010 | 2010-12-31 | $203.0M | −$41.0M | −16.80% | +20.00% |
| Q3 2010 | 2010-09-30 | $346.0M | $308.0M | +810.53% | +37.37% |
| Q2 2010 | 2010-06-30 | −$44.0M | −$217.0M | — | −4.57% |
| Q1 2010 | 2010-03-31 | $114.0M | −$18.0M | −13.64% | +13.12% |
| Q4 2009 | 2009-12-31 | $244.0M | — | — | +25.68% |
| Q3 2009 | 2009-09-30 | $38.0M | −$161.0M | −80.90% | +4.54% |
| Q2 2009 | 2009-06-30 | $173.0M | — | — | +20.00% |
| Q1 2009 | 2009-03-31 | $132.0M | — | — | +16.38% |
| Q3 2008 | 2008-09-30 | $199.0M | — | — | +23.55% |
Warner Bros. Discovery free cash flow growth trends
Over the last five reported fiscal years, free cash flow grew from $2.34B to $3.09B, a compound annual growth rate of 5.73%. Warner Bros. Discovery's latest reported quarter, Q2 2026, generated $572.0M in free cash flow, a decrease of 18.52% year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review Warner Bros. Discovery source filings ↗Community posts
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