Warner Music Group Corp - Understand $wmg stock

$WMG Market Cap: $17.05 Billion

Research Board Inbox Deep Research Not Interested Shortlisted

Financial Snapshot

Revenue

$6.382B

TTM

Gross Margin

47.51%

TTM

Net Earnings

$544.0M

TTM

Current Assets

$2.483B

Q2 2024

Current Liabilities

$3.573B

Q2 2024

Current Ratio

69.49%

Q2 2024

Total Assets

$8.830B

Q2 2024

Total Liabilities

$8.195B

Q2 2024

Book Value

$635.0M

Q2 2024

Cash

$607.0M

Q2 2024

P/E

31.34

Nov 15, 2024 EST

Free Cash Flow

$542.0M

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002
Revenue	$6.037B	$5.919B	$5.301B	$4.463B	$4.475B	$4.005B	$3.576B	$3.246B	$2.966B	$3.027B	$2.871B	$2.780B	$2.869B	$2.988B	$3.205B	$3.506B	$3.383B	$3.516B	$3.502B	$2.548B	$3.376B	$3.290B
YoY Change	1.99%	11.66%	18.78%	-0.27%	11.74%	12.0%	10.17%	9.44%	-2.02%	5.43%	3.27%	-3.1%	-3.98%	-6.77%	-8.59%	3.64%	-3.78%	0.4%	37.44%	-24.53%	2.61%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002
Revenue	$6.037B	$5.919B	$5.301B	$4.463B	$4.475B	$4.005B	$3.576B	$3.246B	$2.966B	$3.027B	$2.871B	$2.780B	$2.869B	$2.988B	$3.205B	$3.506B	$3.383B	$3.516B	$3.502B	$2.548B	$3.376B	$3.290B
Cost Of Revenue	$3.177B	$3.080B	$2.742B	$2.333B	$2.401B	$2.171B	$1.931B	$1.707B	$1.511B	$1.570B	$1.492B	$1.459B	$1.551B	$1.584B	$1.732B	$1.846B	$1.811B	$1.822B	$1.850B	$1.359B	$1.940B	$1.873B
Gross Profit	$2.860B	$2.839B	$2.559B	$2.130B	$2.074B	$1.834B	$1.645B	$1.539B	$1.455B	$1.457B	$1.379B	$1.321B	$1.318B	$1.404B	$1.473B	$1.660B	$1.572B	$1.694B	$1.652B	$1.189B	$1.436B	$1.417B
Gross Profit Margin	47.37%	47.96%	48.27%	47.73%	46.35%	45.79%	46.0%	47.41%	49.06%	48.13%	48.03%	47.52%	45.94%	46.99%	45.96%	47.35%	46.47%	48.18%	47.17%	46.66%	42.54%	43.07%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002
Selling, General & Admin	$1.826B	$1.862B	$1.721B	$2.169B	$1.510B	$1.411B	$1.222B	$1.082B	$1.073B	$1.172B	$1.046B	$1.019B	$975.0M	$1.095B	$1.076B	$1.188B	$1.161B	$1.232B	$1.305B	$996.0M	$1.286B	$1.282B
YoY Change	-1.93%	8.19%	-20.65%	43.64%	7.02%	15.47%	12.94%	0.84%	-8.45%	12.05%	2.65%	4.51%	-10.96%	1.77%	-9.43%	2.33%	-5.76%	-5.59%	31.02%	-22.55%	0.31%
% of Gross Profit	63.85%	65.59%	67.25%	101.83%	72.81%	76.94%	74.29%	70.31%	73.75%	80.44%	75.85%	77.14%	73.98%	77.99%	73.05%	71.57%	73.85%	72.73%	79.0%	83.77%	89.55%	90.47%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$332.0M	$339.0M	$306.0M	$261.0M	$269.0M	$261.0M	$251.0M	$293.0M	$309.0M	$321.0M	$258.0M	$244.0M	$258.0M	$258.0M	$262.0M	$268.0M	$246.0M	$235.0M	$238.0M	$212.0M	$328.0M	$249.0M
YoY Change	-2.06%	10.78%	17.24%	-2.97%	3.07%	3.98%	-14.33%	-5.18%	-3.74%	24.42%	5.74%	-5.43%	0.0%	-1.53%	-2.24%	8.94%	4.68%	-1.26%	12.26%	-35.37%	31.73%
% of Gross Profit	11.61%	11.94%	11.96%	12.25%	12.97%	14.23%	15.26%	19.04%	21.24%	22.03%	18.71%	18.47%	19.58%	18.38%	17.79%	16.14%	15.65%	13.87%	14.41%	17.83%	22.84%	17.57%
Operating Expenses	$1.826B	$1.862B	$1.721B	$2.169B	$1.510B	$1.411B	$1.222B	$1.082B	$1.073B	$1.172B	$1.304B	$1.019B	$1.233B	$1.095B	$1.338B	$1.453B	$1.294B	$1.411B	$1.488B	$1.156B	$1.528B	$1.464B
YoY Change	-1.93%	8.19%	-20.65%	43.64%	7.02%	15.47%	12.94%	0.84%	-8.45%	-10.12%	27.97%	-17.36%	12.6%	-18.16%	-7.91%	12.29%	-8.29%	-5.17%	28.72%	-24.35%	4.37%
Operating Profit	$790.0M	$714.0M	$609.0M	-$229.0M	$356.0M	$217.0M	$222.0M	$214.0M	$127.0M	$19.00M	$75.00M	$109.0M	$85.00M	$90.00M	$135.0M	$207.0M	$278.0M	$283.0M	$164.0M	$33.00M	-$92.00M	-$47.00M
YoY Change	10.64%	17.24%	-365.94%	-164.33%	64.06%	-2.25%	3.74%	68.5%	568.42%	-74.67%	-31.19%	28.24%	-5.56%	-33.33%	-34.78%	-25.54%	-1.77%	72.56%	396.97%	-135.87%	95.74%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002
Interest Expense	-$141.0M	-$125.0M	-$122.0M	-$127.0M	-$142.0M	-$138.0M	-$149.0M	-$173.0M	-$181.0M	-$203.0M	-$203.0M	$225.0M	-$213.0M	$190.0M	-$150.0M	-$180.0M	-$187.0M	-$179.0M	-$170.0M	-$220.0M	-$72.00M	-$23.00M
YoY Change	12.8%	2.46%	-3.94%	-10.56%	2.9%	-7.38%	-13.87%	-4.42%	-10.84%	0.0%	-190.22%	-205.63%	-212.11%	-226.67%	-16.67%	-3.74%	4.47%	5.29%	-22.73%	205.56%	213.04%
% of Operating Profit	-17.85%	-17.51%	-20.03%		-39.89%	-63.59%	-67.12%	-80.84%	-142.52%	-1068.42%	-270.67%	206.42%	-250.59%	211.11%	-111.11%	-86.96%	-67.27%	-63.25%	-103.66%	-666.67%
Other Income/Expense, Net	-$36.00M	$151.0M	-$9.000M	-$57.00M	$60.00M	$394.0M	-$40.00M	$18.00M	-$21.00M	-$4.000M	-$12.00M	$8.000M	$5.000M	-$4.000M	$1.000M	-$8.000M	$0.00	$3.000M	$7.000M	-$10.00M	-$87.00M	-$5.000M
YoY Change	-123.84%	-1777.78%	-84.21%	-195.0%	-84.77%	-1085.0%	-322.22%	-185.71%	425.0%	-66.67%	-250.0%	60.0%	-225.0%	-500.0%	-112.5%		-100.0%	-57.14%	-170.0%	-88.51%	1640.0%

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002
Pretax Income	$609.0M	$740.0M	$456.0M	-$447.0M	$267.0M	$442.0M	-$2.000M	$41.00M	-$75.00M	-$329.0M	-$225.0M	-$84.00M	-$176.0M	-$104.0M	-$54.00M	$19.00M	$41.00M	$107.0M	-$114.0M	-$223.0M	-$1.317B	-$1.570B
YoY Change	-17.7%	62.28%	-202.01%	-267.42%	-39.59%	-22200.0%	-104.88%	-154.67%	-77.2%	46.22%	167.86%	-52.27%	69.23%	92.59%	-384.21%	-53.66%	-61.68%	-193.86%	-48.88%	-83.07%	-16.11%
Income Tax	$170.0M	$185.0M	$149.0M	$23.00M	$9.000M	$130.0M	-$151.0M	$11.00M	$13.00M	-$26.00M	-$31.00M	$1.000M	$30.00M	$41.00M	$50.00M	$49.00M	$49.00M	$47.00M	$55.00M	$47.00M	$36.00M	-$340.0M
% Of Pretax Income	27.91%	25.0%	32.68%		3.37%	29.41%		26.83%								257.89%	119.51%	43.93%
Net Earnings	$430.0M	$551.0M	$304.0M	-$475.0M	$256.0M	$307.0M	$143.0M	$25.00M	-$91.00M	-$308.0M	-$198.0M	-$112.0M	-$205.0M	-$143.0M	-$100.0M	-$56.00M	-$21.00M	$60.00M	-$169.0M	-$270.0M	-$1.353B	-$6.026B
YoY Change	-21.96%	81.25%	-164.0%	-285.55%	-16.61%	114.69%	472.0%	-127.47%	-70.45%	55.56%	76.79%	-45.37%	43.36%	43.0%	78.57%	166.67%	-135.0%	-135.5%	-37.41%	-80.04%	-77.55%
Net Earnings / Revenue	7.12%	9.31%	5.73%	-10.64%	5.72%	7.67%	4.0%	0.77%	-3.07%	-10.18%	-6.9%	-4.03%	-7.15%	-4.79%	-3.12%	-1.6%	-0.62%	1.71%	-4.83%	-10.6%	-40.08%	-183.16%
Basic Earnings Per Share
Diluted Earnings Per Share	$0.82	$1.071M	$592.0K	-$931.4K	$502.0K	$602.0K	$280.4K	$49.02K	-$178.4K	-$603.9K	-$388.2K			-$955.2K	-$669.3K	-$377.6K	-$143.6K	$397.6K	-$1.398M	-$2.512M	-$12.59M	-$56.06M

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003
Cash & Short-Term Investments	$641.0M	$584.0M	$499.0M	$553.0M	$619.0M	$514.0M	$647.0M	$359.0M	$246.0M	$157.0M	$155.0M	$302.0M	$154.0M	$439.0M	$384.0M	$411.0M	$333.0M	$385.0M	$288.0M	$555.0M	$144.0M
YoY Change	9.76%	17.03%	-9.76%	-10.66%	20.43%	-20.56%	80.22%	45.93%	56.69%	1.29%	-48.68%	96.1%	-64.92%	14.32%	-6.57%	23.42%	-13.51%	33.68%	-48.11%	285.42%
Cash & Equivalents	$641.0M	$584.0M	$499.0M	$553.0M	$619.0M	$514.0M	$647.0M	$359.0M	$246.0M	$157.0M	$155.0M	$302.0M	$154.0M	$439.0M	$384.0M	$411.0M	$333.0M	$367.0M	$288.0M	$555.0M	$144.0M
Short-Term Investments																	$0.00	$18.00M	$0.00
Other Short-Term Assets	$515.0M	$463.0M	$459.0M	$275.0M	$223.0M	$173.0M	$185.0M	$179.0M	$190.0M	$203.0M	$195.0M	$211.0M	$234.0M	$251.0M	$248.0M	$242.0M	$249.0M	$271.0M	$265.0M	$347.0M	$565.0M
YoY Change	11.23%	0.87%	66.91%	23.32%	28.9%	-6.49%	3.35%	-5.79%	-6.4%	4.1%	-7.58%	-9.83%	-6.77%	1.21%	2.48%	-2.81%	-8.12%	2.26%	-23.63%	-38.58%
Inventory	$126.0M	$108.0M	$99.00M	$79.00M	$74.00M	$42.00M	$39.00M	$41.00M	$42.00M	$39.00M	$33.00M	$28.00M	$29.00M	$37.00M	$46.00M	$57.00M	$58.00M	$59.00M	$52.00M	$65.00M	$61.00M
Prepaid Expenses
Receivables	$1.120B	$984.0M	$839.0M	$771.0M	$775.0M	$447.0M	$404.0M	$329.0M	$349.0M	$383.0M	$511.0M	$398.0M	$385.0M	$434.0M	$550.0M	$538.0M	$555.0M	$585.0M	$637.0M	$571.0M	$736.0M
Other Receivables	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Total Short-Term Assets	$2.402B	$2.139B	$1.896B	$1.678B	$1.691B	$1.176B	$1.275B	$908.0M	$827.0M	$782.0M	$894.0M	$939.0M	$802.0M	$1.161B	$1.228B	$1.248B	$1.195B	$1.300B	$1.242B	$1.538B	$1.506B
YoY Change	12.3%	12.82%	12.99%	-0.77%	43.79%	-7.76%	40.42%	9.79%	5.75%	-12.53%	-4.79%	17.08%	-30.92%	-5.46%	-1.6%	4.44%	-8.08%	4.67%	-19.25%	2.12%
Property, Plant & Equipment	$703.0M	$641.0M	$632.0M	$604.0M	$300.0M	$229.0M	$213.0M	$203.0M	$220.0M	$227.0M	$180.0M	$152.0M	$182.0M	$121.0M	$100.0M	$117.0M	$133.0M	$146.0M	$157.0M	$189.0M	$221.0M
YoY Change	9.67%	1.42%	4.64%	101.33%	31.0%	7.51%	4.93%	-7.73%	-3.08%	26.11%	18.42%	-16.48%	50.41%	21.0%	-14.53%	-12.03%	-8.9%	-7.01%	-16.93%	-14.48%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments															$18.00M	$155.0M	$146.0M	$25.00M	$21.00M	$8.000M	$10.00M
YoY Change															-88.39%	6.16%	484.0%	19.05%	162.5%	-20.0%
Other Assets	$945.0M	$744.0M	$682.0M	$490.0M	$391.0M	$242.0M	$338.0M	$280.0M	$309.0M	$280.0M	$283.0M	$206.0M	$244.0M	$253.0M	$273.0M	$282.0M	$301.0M	$309.0M	$294.0M	$340.0M	$292.0M
YoY Change	27.02%	9.09%	39.18%	25.32%	61.57%	-28.4%	20.71%	-9.39%	10.36%	-1.06%	37.38%	-15.57%	-3.56%	-7.33%	-3.19%	-6.31%	-2.59%	5.1%	-13.53%	16.44%
Total Long-Term Assets	$6.143B	$5.689B	$5.315B	$4.732B	$4.326B	$4.168B	$4.443B	$4.427B	$4.794B	$5.172B	$5.358B	$4.339B	$4.578B	$2.650B	$2.835B	$3.278B	$3.377B	$3.220B	$3.256B	$3.552B	$2.978B
YoY Change	7.98%	7.04%	12.32%	9.39%	3.79%	-6.19%	0.36%	-7.66%	-7.31%	-3.47%	23.48%	-5.22%	72.75%	-6.53%	-13.51%	-2.93%	4.88%	-1.11%	-8.33%	19.27%
Total Assets	$8.545B	$7.828B	$7.211B	$6.410B	$6.017B	$5.344B	$5.718B	$5.335B	$5.621B	$5.954B	$6.252B	$5.278B	$5.380B	$3.811B	$4.063B	$4.526B	$4.572B	$4.520B	$4.498B	$5.090B	$4.484B
YoY Change
Accounts Payable	$300.0M	$268.0M	$302.0M	$264.0M	$260.0M	$281.0M	$208.0M	$204.0M	$173.0M	$215.0M	$280.0M	$156.0M	$165.0M	$206.0M	$212.0M	$219.0M	$225.0M	$209.0M	$247.0M	$226.0M	$285.0M
YoY Change	11.94%	-11.26%	14.39%	1.54%	-7.47%	35.1%	1.96%	17.92%	-19.53%	-23.21%	79.49%	-5.45%	-19.9%	-2.83%	-3.2%	-2.67%	7.66%	-15.38%	9.29%	-20.7%
Accrued Expenses	$2.811B	$2.432B	$2.398B	$2.079B	$2.093B	$1.850B	$1.669B	$1.439B	$1.441B	$1.435B	$1.543B	$1.344B	$1.246B	$1.407B	$1.524B	$1.501B	$1.226B	$1.142B	$1.057B	$1.003B	$959.0M
YoY Change	15.58%	1.42%	15.34%	-0.67%	13.14%	10.84%	15.98%	-0.14%	0.42%	-7.0%	14.81%	7.87%	-11.44%	-7.68%	1.53%	22.43%	7.36%	8.04%	5.38%	4.59%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$342.0M	$0.00
YoY Change																			-100.0%
Long-Term Debt Due									$13.00M	$13.00M	$13.00M					$17.00M	$17.00M	$17.00M	$17.00M	$12.00M	$0.00
YoY Change									0.0%	0.0%						0.0%	0.0%	0.0%	41.67%
Total Short-Term Liabilities	$3.539B	$3.368B	$3.150B	$2.720B	$2.819B	$2.373B	$2.100B	$1.842B	$1.857B	$1.885B	$2.000B	$1.606B	$1.522B	$1.753B	$1.872B	$1.871B	$1.882B	$1.799B	$1.748B	$2.180B	$1.645B
YoY Change	5.08%	6.92%	15.81%	-3.51%	18.79%	13.0%	14.01%	-0.81%	-1.49%	-5.75%	24.53%	5.52%	-13.18%	-6.36%	0.05%	-0.58%	4.61%	2.92%	-19.82%	32.52%
Long-Term Debt	$3.964B	$3.732B	$3.346B	$3.104B	$2.974B	$2.819B	$2.811B	$2.778B	$2.981B	$3.017B	$2.854B	$2.206B	$2.217B	$1.945B	$1.939B	$2.242B	$2.256B	$2.239B	$2.229B	$1.828B	$120.0M
YoY Change	6.22%	11.54%	7.8%	4.37%	5.5%	0.28%	1.19%	-6.81%	-1.19%	5.71%	29.37%	-0.5%	13.98%	0.31%	-13.51%	-0.62%	0.76%	0.45%	21.94%	1423.33%
Other Long-Term Liabilities	$396.0M	$340.0M	$462.0M	$468.0M	$321.0M	$307.0M	$309.0M	$236.0M	$242.0M	$279.0M	$216.0M	$147.0M	$148.0M	$155.0M	$172.0M	$194.0M	$226.0M	$227.0M	$231.0M	$333.0M	$180.0M
YoY Change	16.47%	-26.41%	-1.28%	45.79%	4.56%	-0.65%	30.93%	-2.48%	-13.26%	29.17%	46.94%	-0.68%	-4.52%	-9.88%	-11.34%	-14.16%	-0.44%	-1.73%	-30.63%	85.0%
Total Long-Term Liabilities	$4.360B	$4.072B	$3.808B	$3.572B	$3.295B	$3.126B	$3.120B	$3.014B	$3.223B	$3.296B	$3.070B	$2.353B	$2.365B	$2.100B	$2.111B	$2.436B	$2.482B	$2.466B	$2.460B	$2.161B	$300.0M
YoY Change	7.07%	6.93%	6.61%	8.41%	5.41%	0.19%	3.52%	-6.48%	-2.21%	7.36%	30.47%	-0.51%	12.62%	-0.52%	-13.34%	-1.85%	0.65%	0.24%	13.84%	620.33%
Total Liabilities	$8.238B	$7.676B	$7.180B	$6.473B	$6.306B	$5.678B	$5.425B	$5.140B	$5.400B	$5.583B	$5.526B	$4.351B	$4.315B	$4.076B	$4.206B	$4.612B	$4.608B	$4.462B	$4.409B	$4.810B	$2.897B
YoY Change	7.32%	6.91%	10.92%	2.65%	11.06%	4.66%	5.54%	-4.81%	-3.28%	1.03%	27.01%	0.83%	5.86%	-3.09%	-8.8%	0.09%	3.27%	1.2%	-8.34%	66.03%

Ownership

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Preferred Stock

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Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002
Basic Shares Outstanding
Diluted Shares Outstanding
Preferred Stock
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Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

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Stock Price

Market Cap: $17.05 Billion

About Warner Music Group Corp

Warner Music Group Corp. engages in the publishing and recording of music. The company is headquartered in New York City, New York and currently employs 5,900 full-time employees. The company went IPO on 2020-06-03. The firm's record labels include Atlantic Records, Warner Records, Elektra Records and Parlophone Records. The firm's segments include recorded music and music publishing. The recorded music segment consists of the discovery and development of recording artists and the related marketing, promotion, distribution, sale and licensing of music created by such recording artists. In the United States, its recorded music business is conducted principally through its record labels - Atlantic Records and Warner Records. The music publishing segment is engaged in the intellectual property business, which is conducted principally through Warner Chappell Music, its global music publishing company. Warner Chappell Music also administers the music and soundtracks of several third-party television and film producers and studios. The firm has a production music catalog collectively branded as Warner Chappell Production Music.

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