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% | +30.28% |
| Q3 2011 | 2011-09-30 | $314.0M | −$32.0M | −9.25% | +29.07% |
| Q2 2011 | 2011-06-30 | $198.0M | $242.0M | — | +18.56% |
| Q1 2011 | 2011-03-31 | $206.0M | $92.0M | +80.70% | +21.66% |
| Q4 2010 | 2010-12-31 | $203.0M | −$41.0M | −16.80% | +21.41% |
| 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 | $45.0M | +22.61% | +25.93% |
| Q3 2009 | 2009-09-30 | $38.0M | — | — | +4.54% |
| Q2 2009 | 2009-06-30 | $173.0M | — | — | +20.00% |
| Q1 2009 | 2009-03-31 | $132.0M | — | — | +16.20% |
| 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 SEC-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 filings at SEC.gov ↗