Warner Bros. Discovery, Inc. - (WBD) Margins & Profitability 2020-2026

Gross, EBITDA, operating, and net margin trends

Margins

Profit margins across the income statement

Gross Margin: 47.8%
EBITDA Margin: -14.0%
Op. Margin: -27.8%
Net Margin: -32.8%

Op. margin of -27.8% is down 27.4% YoY — costs are rising relative to revenue. Net margin at -32.8% and gross margin of 47.8% — earnings take a bigger bite when COGS stays lean..

Gross Margin (%)

Revenue left after direct cost of goods sold

EBITDA Margin (%)

Operating profitability independent of capital structure

Operating & Net Margins (%)

How much of each dollar becomes profit