Warner Music Group Corp.
WMG Communication Services Entertainment
Warner Music Group Corp.’s revenue for fiscal 2025 (year ended September 2025) was $6.7 billion, up 4.37% from fiscal 2024. In the quarter to June 2026, revenue grew 10.4%, EPS grew 1,400.0%, free cash flow grew 1,528.6% and total debt rose 7.95%, each against the same quarter a year earlier. Dividend growth for five consecutive years, revenue growth for five; insiders bought in the last twelve months.
Follow WMG
Warner Music Group Corp. (WMG) Piotroski F-score
Warner Music Group Corp.'s Piotroski F-score for fiscal 2025 is 3 out of 9: 3 of nine tests of profitability, leverage and efficiency passed, down from 5 in fiscal 2024.
Piotroski F-score, annual
Embed this chart
Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 3 | (2.00) |
| FY2024 | 5 | 0.00 |
| FY2023 | 5 | (1.00) |
| FY2022 | 6 | (1.00) |
| FY2021 | 7 | 2.00 |
| FY2020 | 5 | (2.00) |
| FY2019 | 7 | 1.00 |
| FY2018 | 6 | 0.00 |
| FY2017 | 6 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | 3.85% | 4.92% | Pass | 1 |
| Positive operating cash flow | 678.00m | 754.00m | Pass | 1 |
| Rising return on assets | 3.85% | 4.92% | Fail | 0 |
| Cash flow above net income | 313.00m | 319.00m | Pass | 1 |
| Falling long-term leverage | 0.46 | 0.45 | Fail | 0 |
| Rising current ratio | 0.66 | 0.68 | Fail | 0 |
| No new shares issued | 520,508,000 | 517,523,000 | Fail | 0 |
| Rising gross margin | 45.85% | 47.79% | Fail | 0 |
| Rising asset turnover | 0.71 | 0.73 | Fail | 0 |
| Piotroski F-score | Weak — most fundamentals deteriorated | 3 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| MSGS The Madison Square Garden Company compare | 8 |
| ROKU Roku, Inc. compare | 7 |
| FWONK Liberty Media Corporation - Liberty Formula One Series C compare | 7 |
| FWONA Liberty Media Corporation - Liberty Formula One Series A compare | 7 |
| NWSA News Corporation compare | 6 |
| NWS News Corporation compare | 6 |
| SKYD Paramount Skydance Corporation compare | 4 |
| WMG Warner Music Group Corp. | 3 |
| LLYVA Liberty Live Holdings, Inc. compare | — |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover