Wednesday 4 November 2026 Export WMG’s income statement to Excel — free account

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.

Revenue: +10.4%
EPS: +1,400.0%
Free cash flow: +1,528.6%
Total debt: +7.95%

Quarter to June 2026, against a year earlier

32.58 1.45 +4.66%

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Market cap: $16.3B
P/E: 24.3×
Fwd P/E: 21.4×
Dividend yield: 2.48%
F-score: 3/9
Altman Z: 1.72
Beneish M: −2.55
Dividend safety: 31/100

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Warner Music Group Corp. (WMG) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by segment, and margins
Recorded Music	5,408	80.63%
Music Publishing	1,306	19.47%
Gross margin		45.85%
Operating margin		10.35%
Pre-tax margin		7.31%

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012
Recorded Music	5,408 80.63%	5,223 81.28%	4,955 82.08%	4,966 83.90%	4,544 85.72%	3,810 85.37%	3,840 85.81%	3,360 83.90%	3,020 84.45%	2,736 84.29%	2,501 84.32%	2,526 83.45%	2,389 83.21%	2,281 82.05%
Music Publishing	1,306 19.47%	1,210 18.83%	1,088 18.02%	958 16.19%	761 14.36%	657 14.72%	643 14.37%	653 16.30%	572 16.00%	524 16.14%	482 16.25%	517 17.08%	503 17.52%	518 18.63%
Eliminations	—	—	—	—	—	—	—	—	—	—	(17) (0.57%)	(16) (0.53%)	(21) (0.73%)	(19) (0.68%)
Revenue	6,707	6,426	6,037	5,919	5,301	4,463	4,475	4,005	3,576	3,246	2,966	3,027	2,871	2,780

Operating income by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012
Recorded Music	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Music Publishing	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
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Revenue by region $m

Line	FY2016	FY2015	FY2014	FY2013
All other territories	1,395 42.98%	1,318 44.44%	1,419 46.88%	1,327 46.22%
U.S.	1,360 41.90%	1,171 39.48%	1,141 37.69%	1,161 40.44%
United Kingdom	491 15.13%	477 16.08%	467 15.43%	383 13.34%
Revenue	3,246	2,966	3,027	2,871

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Remaining performance obligations	Q3 FY2026	$783.0M	$1.4B	−44.43%

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023	Q3 FY2023	Q2 FY2023	Q1 FY2023	Q4 FY2022	Q3 FY2022	Q2 FY2022	Q1 FY2022	Q4 FY2021	Q3 FY2021	Q2 FY2021	Q1 FY2021	Q4 FY2020	Q3 FY2020	Q2 FY2020	Q1 FY2020	Q4 FY2019	Q3 FY2019	Q2 FY2019	Q1 FY2019
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As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.