Warner Bros. Discovery, Inc. (WBD) Free cash flow
- Free cash flow · 12 months (USD): Value $2.18B; Formula and calculation Operating cash flow minus capital spending; distinct from the saved levered FCF quote figure. Period ending 2026-06-30..
- Price / free cash flow · 12 months: Value (m); Formula and calculation Market cap / trailing-year free cash flow; inverse of FCF yield before percent scaling. Period ending 2026-06-30..
- Free cash flow yield · 12 months: Value (m); Formula and calculation (Operating cash flow − capital spending) / current market cap. Period ending 2026-06-30..
- Free cash flow margin · 12 months: Value 6.04%; Formula and calculation (Operating cash flow − capital spending) / revenue. Period ending 2026-06-30..
Free cash flow
Overview →Financial period ending 2026-06-30; current quote (m). Amounts retain their stated periods and units.
| Metric | Value | Formula and calculation |
|---|---|---|
| Free cash flow · 12 months (USD) | $2.18B | Operating cash flow minus capital spending; distinct from the saved levered FCF quote figure. Period ending 2026-06-30. $3.42B − $1.24B ≈ $2.18B |
| Price / free cash flow · 12 months | (m) | Market cap / trailing-year free cash flow; inverse of FCF yield before percent scaling. Period ending 2026-06-30. Calculation unavailable: missing inputs remain (m). |
| Free cash flow yield · 12 months | (m) | (Operating cash flow − capital spending) / current market cap. Period ending 2026-06-30. Calculation unavailable: missing inputs remain (m). |
| Free cash flow margin · 12 months | 6.04% | (Operating cash flow − capital spending) / revenue. Period ending 2026-06-30. $2.18B ÷ $36.12B × 100 ≈ 6.04% |
| Free cash flow per share · 12 months | (m) | (Trailing-year operating cash flow − capital spending) / reported quarter-end common shares. Period ending 2026-06-30. Calculation unavailable: missing inputs remain (m). |
| Operating cash flow · 12 months | $3.42B | Cash generated by operating activities. Period ending 2026-06-30. |
| Operating cash flow / net income · 12 months | -1.08× | Operating cash flow / net income. Period ending 2026-06-30. $3.42B ÷ $-3.17B ≈ -1.08× |
Calculation inputs
| Input | Amount with unit | Raw financial data |
|---|---|---|
| Operating cash flow | 3.42B USD | Net Cash Provided by (Used in) Operating Activities · Net Cash Provided by (Used in) Operating Activities, Continuing Operations |
| Capital spending | 1.24B USD | Payments to Acquire Property, Plant, and Equipment |
| Market cap | (m) | |
| Free cash flow | 2.18B USD | Net Cash Provided by (Used in) Operating Activities · Net Cash Provided by (Used in) Operating Activities, Continuing Operations · Payments to Acquire Property, Plant, and Equipment |
| Revenue | 36.12B USD | Revenue from Contract with Customer, Excluding Assessed Tax |
| Quarter-end shares | (m) | Common Stock, Shares, Outstanding |
| Net income | -3.17B USD | Net Income (Loss) Attributable to Parent |
Calculated history
Changes compare with the next older row (previous quarter), unless explicitly labeled otherwise. Rolling 12-month growth compares two successive quarter-end rolling totals; it is not year-over-year growth.
| Period ending | Free cash flow | FCF per share | Operating cash flow | Capital spending (USD) | Market cap (USD) | Revenue (USD) | Quarter-end shares (shares) | Net income (USD) | Price / FCF | FCF yield | FCF margin | Cash conversion |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026-06-30 | $2.18B | (m) | $3.42B | $1.24B | (m) | $36.12B | (m) | $-3.17B | (m) | (m) | 6.04% | -1.08× |
| 2026-03-31 | $2.31B | (m) | $3.56B | $1.25B | (m) | $37.21B | (m) | $-1.74B | (m) | (m) | 6.21% | -2.05× |
| 2025-12-31 | $3.09B | (m) | $4.32B | $1.23B | (m) | $37.30B | (m) | $727.00M | (m) | (m) | 8.28% | 5.94× |
| 2025-09-30 | $4.13B | (m) | $5.23B | $1.10B | (m) | $37.86B | (m) | $485.00M | (m) | (m) | 10.92% | 10.78× |
| 2025-06-30 | $4.07B | (m) | $5.10B | $1.03B | (m) | $38.44B | (m) | $768.00M | (m) | (m) | 10.57% | 6.64× |
| 2025-03-31 | $4.34B | (m) | $5.34B | $1.00B | (m) | $38.34B | (m) | $-10.80B | (m) | (m) | 11.32% | -0.49× |
| 2024-12-31 | $4.43B | (m) | $5.38B | $948.00M | (m) | $39.32B | (m) | $-11.31B | (m) | (m) | 11.26% | -0.48× |
| 2024-09-30 | $5.31B | (m) | $6.24B | $930.00M | (m) | $39.58B | (m) | $-11.22B | (m) | (m) | 13.41% | -0.56× |
| 2024-06-30 | $6.74B | (m) | $7.91B | $1.17B | (m) | $39.93B | (m) | $-11.77B | (m) | (m) | 16.87% | -0.67× |
| 2024-03-31 | $7.48B | (m) | $8.69B | $1.21B | (m) | $40.58B | (m) | $-3.02B | (m) | (m) | 18.44% | -2.88× |
| 2023-12-31 | $6.16B | (m) | $7.48B | $1.32B | (m) | $41.32B | (m) | $-3.13B | (m) | (m) | 14.91% | -2.39× |
| 2023-09-30 | $5.33B | (m) | $6.75B | $1.41B | (m) | $42.05B | (m) | $-4.83B | (m) | (m) | 12.68% | -1.40× |
| 2023-06-30 | $3.08B | (m) | $4.35B | $1.27B | (m) | $41.89B | (m) | $-6.72B | (m) | (m) | 7.36% | -0.65× |
| 2023-03-31 | $2.15B | (m) | $3.35B | $1.20B | (m) | $41.36B | (m) | $-8.90B | (m) | (m) | 5.20% | -0.38× |
| 2022-12-31 | $3.32B | (m) | $4.30B | $987.00M | (m) | $33.82B | (m) | $-7.37B | (m) | (m) | 9.81% | -0.58× |
| 2022-09-30 | $1.62B | (m) | $2.34B | $723.00M | (m) | $26.00B | (m) | $-5.23B | (m) | (m) | 6.23% | -0.45× |
| 2022-06-30 | $2.52B | (m) | $3.03B | $513.00M | (m) | $19.32B | (m) | $-2.77B | (m) | (m) | 13.02% | -1.09× |
| 2022-03-31 | $2.48B | (m) | $2.85B | $368.00M | (m) | $12.56B | (m) | $1.32B | (m) | (m) | 19.78% | 2.16× |
| 2021-12-31 | $2.42B | (m) | $2.80B | $373.00M | (m) | $12.19B | (m) | $1.01B | (m) | (m) | 19.89% | 2.78× |
| 2021-09-30 | $2.08B | (m) | $2.47B | $385.00M | (m) | $11.89B | (m) | $1.24B | (m) | (m) | 17.51% | 1.99× |
| 2021-06-30 | $2.16B | (m) | $2.52B | $352.00M | (m) | $11.30B | (m) | $1.38B | (m) | (m) | 19.15% | 1.82× |
| 2021-03-31 | $2.29B | (m) | $2.67B | $387.00M | (m) | $10.78B | (m) | $982.00M | (m) | (m) | 21.21% | 2.72× |
| 2020-12-31 | $2.34B | (m) | $2.74B | $402.00M | (m) | $10.67B | (m) | $1.22B | (m) | (m) | 21.90% | 2.25× |
| 2020-09-30 | $3.03B | (m) | $3.42B | $390.00M | (m) | $10.66B | (m) | $1.42B | (m) | (m) | 28.41% | 2.40× |
| 2020-06-30 | $3.13B | (m) | $3.51B | $384.00M | (m) | $10.78B | (m) | $1.39B | (m) | (m) | 29.00% | 2.53× |
| 2020-03-31 | $2.84B | (m) | $3.19B | $350.00M | (m) | $11.12B | (m) | $2.06B | (m) | (m) | 25.56% | 1.55× |
| 2019-12-31 | $3.11B | (m) | $3.40B | $289.00M | (m) | $11.14B | (m) | $2.07B | (m) | (m) | 27.91% | 1.64× |
| 2019-09-30 | $2.87B | (m) | $3.10B | $230.00M | (m) | $11.08B | (m) | $1.86B | (m) | (m) | 25.87% | 1.66× |
| 2019-06-30 | $2.89B | (m) | $3.08B | $187.00M | (m) | $10.99B | (m) | $1.72B | (m) | (m) | 26.28% | 1.79× |
| 2019-03-31 | $2.81B | (m) | $2.96B | $143.00M | (m) | $10.95B | (m) | $986.00M | (m) | (m) | 25.70% | 3.00× |
| 2018-12-31 | $2.43B | (m) | $2.58B | $147.00M | (m) | $10.55B | (m) | $594.00M | (m) | (m) | 23.02% | 4.34× |
| 2018-09-30 | $1.97B | (m) | $2.11B | $138.00M | (m) | $4.35B | (m) | $-819.00M | (m) | (m) | 45.33% | -2.58× |
| 2018-06-30 | $1.76B | (m) | $1.90B | $139.00M | (m) | $3.41B | (m) | $-718.00M | (m) | (m) | 51.75% | -2.65× |
| 2018-03-31 | $1.40B | (m) | $1.53B | $136.00M | (m) | $2.31B | (m) | $-560.00M | (m) | (m) | 60.60% | -2.74× |
| 2017-12-31 | $1.49B | (m) | $1.63B | $135.00M | (m) | $6.87B | (m) | $-337.00M | (m) | (m) | 21.74% | -4.83× |
| 2017-09-30 | $1.58B | (m) | $1.71B | $122.00M | (m) | $6.68B | (m) | $1.11B | (m) | (m) | 23.71% | 1.54× |
| 2017-06-30 | $1.30B | (m) | $1.43B | $123.00M | (m) | $6.59B | (m) | $1.11B | (m) | (m) | 19.78% | 1.28× |
| 2017-03-31 | $1.45B | (m) | $1.57B | $120.00M | (m) | $6.55B | (m) | $1.15B | (m) | (m) | 22.08% | 1.37× |
| 2016-12-31 | $1.28B | (m) | $1.37B | $88.00M | (m) | $6.50B | (m) | $1.19B | (m) | (m) | 19.78% | 1.15× |
| 2016-09-30 | $1.36B | (m) | $1.45B | $96.00M | (m) | $6.47B | (m) | $1.11B | (m) | (m) | 20.96% | 1.31× |
| 2016-06-30 | $1.18B | (m) | $1.27B | $94.00M | (m) | $6.47B | (m) | $1.17B | (m) | (m) | 18.23% | 1.09× |
| 2016-03-31 | $1.19B | (m) | $1.28B | $84.00M | (m) | $6.42B | (m) | $1.05B | (m) | (m) | 18.57% | 1.22× |
| 2015-12-31 | $1.17B | (m) | $1.28B | $103.00M | (m) | $6.39B | (m) | $1.03B | (m) | (m) | 18.36% | 1.24× |
| 2015-09-30 | $966.00M | (m) | $1.08B | $111.00M | (m) | $6.42B | (m) | $1.06B | (m) | (m) | 15.04% | 1.01× |
| 2015-06-30 | $1.13B | (m) | $1.24B | $114.00M | (m) | $6.43B | (m) | $1.07B | (m) | (m) | 17.48% | 1.16× |
| 2015-03-31 | $1.01B | (m) | $1.14B | $126.00M | (m) | $6.39B | (m) | $1.16B | (m) | (m) | 15.87% | 0.98× |
| 2014-12-31 | $1.20B | (m) | $1.32B | $120.00M | (m) | $6.26B | (m) | $1.14B | (m) | (m) | 19.12% | 1.16× |
| 2014-09-30 | $1.12B | (m) | $1.25B | $124.00M | (m) | $6.13B | (m) | $1.18B | (m) | (m) | 18.35% | 1.06× |
| 2014-06-30 | $1.17B | (m) | $1.29B | $119.00M | (m) | $5.93B | (m) | $1.15B | (m) | (m) | 19.70% | 1.12× |
| 2014-03-31 | $1.28B | (m) | $1.40B | $117.00M | (m) | $5.79B | (m) | $1.07B | (m) | (m) | 22.07% | 1.30× |
| 2013-12-31 | $1.17B | (m) | $1.28B | $115.00M | (m) | $5.54B | (m) | $1.07B | (m) | (m) | 21.14% | 1.20× |
| 2013-09-30 | $1.16B | (m) | $1.26B | $100.00M | (m) | $5.20B | (m) | $1.01B | (m) | (m) | 22.28% | 1.25× |
| 2013-06-30 | $1.07B | (m) | $1.18B | $107.00M | (m) | $4.90B | (m) | $960.00M | (m) | (m) | 21.90% | 1.23× |
| 2013-03-31 | $900.00M | (m) | $982.00M | $82.00M | (m) | $4.56B | (m) | $953.00M | (m) | (m) | 19.75% | 1.03× |
| 2012-12-31 | $1.02B | (m) | $1.10B | $77.00M | (m) | $4.49B | (m) | $943.00M | (m) | (m) | 22.78% | 1.17× |
| 2012-09-30 | $1.04B | (m) | $1.11B | $69.00M | (m) | $4.46B | (m) | $1.05B | (m) | (m) | 23.36% | 1.05× |
| 2012-06-30 | $1.00B | (m) | $1.06B | $55.00M | (m) | $4.46B | (m) | $1.09B | (m) | (m) | 22.48% | 0.97× |
| 2012-03-31 | $1.06B | (m) | $1.13B | $68.00M | (m) | $4.39B | (m) | $1.05B | (m) | (m) | 24.23% | 1.08× |
| 2011-12-31 | $1.04B | (m) | $1.10B | $58.00M | (m) | $4.24B | (m) | $1.13B | (m) | (m) | 24.60% | 0.97× |
| 2011-09-30 | $921.00M | (m) | $983.00M | $62.00M | (m) | $4.13B | (m) | $987.00M | (m) | (m) | 22.31% | 1.00× |
| 2011-06-30 | $953.00M | (m) | $1.01B | $56.00M | (m) | $3.96B | (m) | $936.00M | (m) | (m) | 24.07% | 1.08× |
| 2011-03-31 | $711.00M | (m) | $759.00M | $48.00M | (m) | $3.85B | (m) | $789.00M | (m) | (m) | 18.44% | 0.96× |
| 2010-12-31 | $619.00M | (m) | $668.00M | $49.00M | (m) | $3.77B | (m) | $653.00M | (m) | (m) | 16.41% | 1.02× |
| 2010-09-30 | $624.00M | (m) | $669.00M | $45.00M | (m) | $3.77B | (m) | $624.00M | (m) | (m) | 16.57% | 1.07× |
| 2010-06-30 | $316.00M | (m) | $361.00M | $45.00M | (m) | $3.68B | (m) | $538.00M | (m) | (m) | 8.59% | 0.67× |
| 2010-03-31 | $533.00M | (m) | $583.00M | $50.00M | (m) | $3.58B | (m) | $610.00M | (m) | (m) | 14.89% | 0.96× |
| 2009-12-31 | $551.00M | (m) | $608.00M | $57.00M | (m) | $3.52B | (m) | $560.00M | (m) | (m) | 15.67% | 1.09× |
| 2009-09-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2009-06-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2009-03-31 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2008-12-31 | $467.00M | (m) | $569.00M | $102.00M | (m) | $3.44B | (m) | $317.00M | (m) | (m) | 13.56% | 1.79× |
| 2008-09-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2008-06-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2007-12-31 | $11.00M | (m) | $58.00M | $47.00M | (m) | $76.00M | (m) | $-68.00M | (m) | (m) | 14.47% | -0.85× |
(m) means missing inputs. Historical market-based ratios use the saved close on or immediately before period ending and that period’s reported shares; current quotes are not substituted. Five-year projections repeat historical CAGR, not analyst forecasts.
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