Warner Music Group Income Statement

WMG / Communication Services|15 years of annual SEC 10-K data (FY2011-FY2025)

Line items include revenue, cost of goods sold, gross profit, operating expenses, interest, taxes, and net income with per-share data across 15 fiscal years. All figures from audited SEC 10-K filings.

Warner Music Group reported $6.7B in revenue and $365M in net income for FY2025. Revenue has grown at a 7.9% compound annual rate over the past 14 years.

Based on SEC 10-K filings.

Key Data Points

Altman Z-Score 0.71 (distress zone, below 1.8 threshold)
High earnings quality (cash-backed earnings)

Data sourced from SEC EDGAR filings. Not investment advice.

Item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011
Revenue	$6.7B	$6.4B	$5.3B	$4.5B	$4.5B	$4.0B	$4.5B	$3.2B	$3.0B	$3.2B	$3.0B	$2.8B	$2.9B	$3.0B	$2.3B
Cost of Revenue	$3.6B	$3.4B	$2.7B	$2.3B	$2.4B	$2.2B	$2.4B	$1.7B	$1.5B	$1.7B	$1.5B	$1.5B	$1.5B	$1.6B	$1.3B
SG&A Expense	$1.9B	$1.9B	$1.7B	$2.2B	$1.5B	$1.4B	$1.5B	$1.1B	$1.1B	$1.1B	$1.1B	$1.0B	$1.1B	$1.1B	$831.0M
Operating Income	$694.0M	$823.0M	$609.0M	-$229.0M	$356.0M	$217.0M	$356.0M	$214.0M	$127.0M	$214.0M	$127.0M	$109.0M	$75.0M	$90.0M	-$2.0M
Interest Expense	$177.0M	$182.0M	$119.0M	-	-	-	-	-	-	-	-	-	-	$190.0M	$151.0M
Income Tax	$120.0M	$123.0M	$149.0M	$23.0M	$9.0M	$130.0M	$9.0M	$11.0M	$13.0M	$11.0M	$13.0M	$1.0M	-$31.0M	$41.0M	$27.0M
Net Income	$365.0M	$435.0M	$304.0M	-$475.0M	$256.0M	$307.0M	$256.0M	$25.0M	-$91.0M	$25.0M	-$91.0M	-$112.0M	-$198.0M	-$143.0M	-$174.0M
Shares Outstanding	-	-	-	-	-	-	1.1K	1.1K	1.1K	1.1K	1.1K	1.1K	-	1.0K	-
Operating Margin	10.3%	12.8%	11.5%	-5.1%	8.0%	5.4%	8.0%	6.6%	4.3%	6.6%	4.3%	3.9%	2.6%	3.0%	-0.1%
Profit Margin	5.4%	6.8%	5.7%	-10.6%	5.7%	7.7%	5.7%	0.8%	-3.1%	0.8%	-3.1%	-4.0%	-6.9%	-4.8%	-7.5%

Other Financial Statements

Balance Sheet Cash Flow Statement All Financial Data

Scores & Analysis

Piotroski F-Score Altman Z-Score Financial Ratios

Warner Music Group Profile All Financial Data

Item

FY2025

FY2024

FY2023

FY2022

FY2021

FY2020

FY2019

FY2018

FY2017

FY2016

FY2015

FY2014

FY2013

FY2012

FY2011

Revenue

$6.7B

$6.4B

$5.3B

$4.5B

$4.0B

$4.5B

$3.2B

$3.0B

$3.2B

$3.0B

$2.8B

$2.9B

$3.0B

$2.3B

Cost of Revenue

$3.6B

$3.4B

$2.7B

$2.3B

$2.4B

$2.2B

$2.4B

$1.7B

$1.5B

$1.7B

$1.5B

$1.6B

$1.3B

SG&A Expense

$1.9B

$1.7B

$2.2B

$1.5B

$1.4B

$1.5B

$1.1B

$1.0B

$1.1B

$831.0M

Operating Income

$694.0M

$823.0M

$609.0M

-$229.0M

$356.0M

$217.0M

$356.0M

$214.0M

$127.0M

$214.0M

$127.0M

$109.0M

$75.0M

$90.0M

-$2.0M

Interest Expense

$177.0M

$182.0M

$119.0M

$190.0M

$151.0M

Income Tax

$120.0M

$123.0M

$149.0M

$23.0M

$9.0M

$130.0M

$9.0M

$11.0M

$13.0M

$11.0M

$13.0M

$1.0M

-$31.0M

$41.0M

$27.0M

Net Income

$365.0M

$435.0M

$304.0M

-$475.0M

$256.0M

$307.0M

$256.0M

$25.0M

-$91.0M

$25.0M

-$91.0M

-$112.0M

-$198.0M

-$143.0M

-$174.0M

Shares Outstanding

1.1K

1.0K

Operating Margin

10.3%

12.8%

11.5%

-5.1%

8.0%

5.4%

8.0%

6.6%

4.3%

6.6%

4.3%

3.9%

2.6%

3.0%

-0.1%

Profit Margin

5.4%

6.8%

5.7%

-10.6%

5.7%

7.7%

5.7%

0.8%

-3.1%

0.8%

-3.1%

-4.0%

-6.9%

-4.8%

-7.5%