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 68,079 - -
Change - 50.15% 20.54% -6.56% 175.58% -4.73% - -
Enterprise Value (EV) 1 26,186 68,289 67,640 60,123 99,460 92,804 89,559 86,608
Change - 160.79% -0.95% -11.11% 65.43% -6.69% -3.5% -3.3%
P/E ratio 15.3x -2.48x -8.89x -2.29x 99.4x -333x -49,891x 77.6x
PBR 1.03x 0.39x 0.61x 0.76x 1.81x 1.87x 1.86x 1.95x
PEG - 0x 0.1x -0x -1x 3x 502.3x -0x
Capitalization / Revenue 1.26x 0.68x 0.67x 0.66x 1.92x 1.82x 1.79x 1.76x
EV / Revenue 2.15x 2.02x 1.64x 1.53x 2.67x 2.48x 2.35x 2.24x
EV / EBITDA 6.86x 8.85x 6.63x 6.66x 11.4x 10.8x 10.3x 9.91x
EV / EBIT 13x -9.27x -43.7x -5.99x 135x 48.2x 40x 37x
EV / FCF 10.8x 20.6x 11x 13.6x 32.2x 22.3x 19.4x 18.1x
FCF Yield 9.26% 4.86% 9.11% 7.36% 3.1% 4.48% 5.16% 5.53%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 1.54 -3.82 -1.28 -4.62 0.29 -0.0825 -0.00055 0.3538
Distribution rate - - - - - - - -
Net sales 1 12,191 33,817 41,321 39,321 37,296 37,432 38,125 38,743
EBITDA 1 3,817 7,718 10,200 9,032 8,744 8,567 8,727 8,742
EBIT 1 2,012 -7,370 -1,548 -10,032 738 1,926 2,241 2,341
Net income 1 1,006 -7,371 -3,126 -11,311 727 -187.9 -30.38 815.9
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 27.44 27.44 27.44
Nbr of stocks (in thousands) 658,571 2,428,396 2,438,566 2,453,165 2,479,487 2,481,015 - -
Announcement Date 24/02/22 23/02/23 23/02/24 27/02/25 26/02/26 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-333.78x2.49x10.86x-.--% 68.3B
15.3x1.72x8.09x0.91% 25.17B
19.6x1.01x6.88x5.99% 6.71B
7.22x2.01x5.45x4.49% 5.42B
8.41x1.08x3.55x2.9% 5.59B
13.53x1.15x6.58x1.26% 4.94B
13.34x3.31x6.39x2.79% 2.52B
16.23x1.36x10.8x - 2.39B
12.53x0.81x7.83x2.1% 2.15B
Average -25.29x 1.66x 7.38x 2.56% 13.69B
Weighted average by Cap. -178.80x 2.08x 9.19x 1%

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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