SuperworthWarner Music profit margin WMG
Gross, operating and net profit as a share of revenue over the last twelve months, from 2012.
- Net margin, 12 months
- 9.2%
- Operating margin, 12 months
- 13.7%
- Net margin on a year earlier
- +4.6 pts
- Peer median
- 5.8%
Over the twelve months to Jun 30, 2026, Warner Music kept 9.2% of its revenue as net profit, with an operating margin of 13.7% and a gross margin of 45.8%.
Five years earlier its net margin was 5.4%.
The median for 10 entertainment stocks of a similar size is 5.8%.
Profit margin over time
Fiscal year by fiscal year
| Fiscal year | Net margin | Operating margin | Gross margin |
|---|---|---|---|
| FY2025 | 5.4% | 10.3% | 45.8% |
| FY2024 | 6.8% | 12.8% | 47.8% |
| FY2023 | 7.1% | 13.1% | 47.4% |
| FY2022 | 9.3% | 12.1% | 48.0% |
| FY2021 | 5.7% | 11.5% | 48.3% |
| FY2020 | −10.6% | −5.1% | 47.7% |
| FY2019 | 5.7% | 8.0% | 46.3% |
| FY2018 | 7.7% | 5.4% | 45.8% |
| FY2017 | 4.0% | 6.2% | 46.0% |
| FY2016 | 0.8% | 6.6% | 47.4% |
| FY2015 | −3.1% | 4.3% | 49.1% |
| FY2014 | −10.2% | 0.6% | 48.1% |
| FY2013 | −6.9% | 2.6% | 48.0% |
| FY2012 | −4.0% | 3.9% | 47.7% |
| FY2010 | n/a | n/a | n/a |
Quarter by quarter
| Quarter | Ended | Net margin, 12 months | Change on a year | Operating margin |
|---|---|---|---|---|
| Q3 FY26 | 9.2% | +4.6 pts | 13.7% | |
| Q2 FY26 | 6.3% | −0.8 pts | 12.1% | |
| Q1 FY26 | 4.4% | −3.6 pts | 11.2% | |
| Q4 FY25 | 5.4% | −1.3 pts | 10.3% | |
| Q3 FY25 | 4.6% | −4.0 pts | 10.7% | |
| Q2 FY25 | 7.1% | −1.1 pts | 11.6% | |
| Q1 FY25 | 8.1% | +0.7 pts | 10.8% | |
| Q4 FY24 | 6.8% | −0.4 pts | 12.8% | |
| Q3 FY24 | 8.6% | +1.4 pts | 14.0% | |
| Q2 FY24 | 8.3% | +0.9 pts | 13.7% | |
| Q1 FY24 | 7.4% | −1.0 pts | 14.0% | |
| Q4 FY23 | 7.1% | −2.2 pts | 13.1% |
Against its peers
Companies in Entertainment nearest Warner Music's size, closest first, today.
| Company | Profit margin |
|---|---|
| WMGWarner Music | 9.2% |
| FWONKLiberty Media | 9.4% |
| ROKURoku | 6.8% |
| FOXAFox | 9.8% |
| TKOTKO | 4.3% |
| LYVLive Nation Entertainment | 0.5% |
| CHDNChurchill Downs | 13.8% |
| MTNVail Resorts | 5.2% |
| NXSTNexstar Media | 3.2% |
| CNKCinemark | 6.4% |
| RSIRush Street Interactive | 2.3% |
| Peer median | 5.8% |
Where Warner Music ranks
What the profit margin tells you
Profit as a share of revenue at three levels: gross (after making the product), operating (after running the business) and net (after everything, including tax and interest).
Compare within an industry. 10% is superb for a retailer and poor for a software company.
More on Warner Music
Valuation data, not investment advice. Prices as of . Reported figures come from the company's filings with the SEC.