Company Valuation: Warner Bros. Discovery, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 15,332 23,021 27,751 25,930 71,459 67,335 - -
Change - 50.15% 20.54% -6.56% 175.58% -5.77% - -
Enterprise Value (EV) 1 26,186 68,289 67,640 60,123 99,460 92,060 88,815 85,864
Change - 160.79% -0.95% -11.11% 65.43% -7.44% -3.52% -3.32%
P/E ratio 15.3x -2.48x -8.89x -2.29x 99.4x -508x -1,669x 76.7x
PBR 1.03x 0.39x 0.61x 0.76x 1.81x 1.85x 1.84x 1.93x
PEG - 0x 0.1x -0x -1x 4x 24x -0x
Capitalization / Revenue 1.26x 0.68x 0.67x 0.66x 1.92x 1.8x 1.76x 1.73x
EV / Revenue 2.15x 2.02x 1.64x 1.53x 2.67x 2.46x 2.33x 2.21x
EV / EBITDA 6.86x 8.85x 6.63x 6.66x 11.4x 10.7x 10.2x 9.83x
EV / EBIT 13x -9.27x -43.7x -5.99x 135x 47.8x 39.6x 32.8x
EV / FCF 10.8x 20.6x 11x 13.6x 32.2x 22.2x 19.2x 17.9x
FCF Yield 9.26% 4.86% 9.11% 7.36% 3.1% 4.51% 5.2% 5.58%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 1.54 -3.82 -1.28 -4.62 0.29 -0.0534 -0.0163 0.3538
Distribution rate - - - - - - - -
Net sales 1 12,191 33,817 41,321 39,321 37,296 37,431 38,154 38,898
EBITDA 1 3,817 7,718 10,200 9,032 8,744 8,564 8,726 8,736
EBIT 1 2,012 -7,370 -1,548 -10,032 738 1,926 2,241 2,616
Net income 1 1,006 -7,371 -3,126 -11,311 727 -100.1 -81.06 815.9
Net Debt 1 10,854 45,268 39,889 34,193 28,001 24,725 21,480 18,529
Reference price 2 23.54 9.48 11.38 10.57 28.82 27.14 27.14 27.14
Nbr of stocks (in thousands) 658,571 2,428,396 2,438,566 2,453,165 2,479,487 2,481,015 - -
Announcement Date 2/24/22 2/23/23 2/23/24 2/27/25 2/26/26 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.99x1.6x7.52x0.99% 23.21B
9.43x2.24x6.09x3.44% 7.08B
5.08x0.9x6.53x16.9% 6.58B
8.46x1.06x3.5x3% 5.41B
13.19x1.15x6.63x1.25% 4.95B
6.74x0.5x1.71x - 3.29B
12.86x3.09x5.99x2.82% 2.4B
22.81x1.59x19.55x - 2.38B
Average 11.57x 1.52x 7.19x 4.73% 6.91B
Weighted average by Cap. 11.63x 1.50x 6.85x 3.78%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  5. Valuation Warner Bros. Discovery, Inc.
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