Warner Bros. Discovery, Inc. Financial Ratios — WBD Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	17.77	14.73	17.22	19.31	18.72	14.87	-4.6	6.68	16.97	10.72	8.12	-25.28	-6.77	-28.54	2.08
Return on Assets (%)	9.87	7.59	7.7	7.36	6.5	7.57	-1.76	2.16	6.24	3.59	2.94	-8.75	-2.43	-9.95	0.71
Return on Capital (%)	12.44	9.84	10.41	10.34	9.24	10.67	- -	4.21	9.43	5.77	4.8	- -	- -	- -	2.3
Return on Invested Capital (%)	11.99	10.49	10.03	10.46	10.2	11.16	- -	7.35	11.25	7.77	5.9	- -	- -	- -	0.82
Gross Margin (%)	71.79	72.85	69.49	66.1	63.36	62.57	61.36	62.71	65.73	63.83	62.1	39.55	40.65	41.58	44
EBITDA Margin (%)	64.04	63.45	62.11	63.94	63.98	63.84	63.42	69.04	66.31	66.02	57.88	52.81	55.96	53.41	50.54
Operating Margin (%)	40.88	41.56	35.63	33.84	32.09	31.6	30.83	24.64	28.63	25.58	16.18	-10.34	-2.14	0.05	3.51
Incremental Operating Margin (%)	67.75	50.47	10.21	20.27	-52.71	0.97	17.55	13.07	99.83	97.25	-49.8	- -	- -	-45.2	-63.75
Pretax Margin (%)	37.5	33.83	31.36	27.89	24.38	25.72	-1.99	9.68	20.59	16.19	11.75	-26.5	-9.35	-28.96	4.39
Profit Margin (%)	27.16	21.02	19.42	18.18	16.17	18.38	-4.9	5.63	18.57	11.42	8.25	-21.8	-7.57	-28.77	1.95
Net Income to Common Margin (%)	27.16	21.02	19.42	18.18	16.17	12.14	-3.27	4.11	13.92	10.22	7.35	-21.94	-7.57	-28.77	1.95
Effective Tax Rate (%)	27.32	37.02	37.96	34.92	32.78	27.11	- -	33.37	3.53	21.59	16.47	- -	- -	- -	54.3
Dvd Payout Ratio (%)	0.62	- -	- -	- -	- -	-48.39	-63.28	-26.32	-28.17	-9.39	-8.61	0.67	- -	- -	- -
Sustainable Growth Rate (%)	17.66	14.73	17.22	19.31	18.72	22.06	-7.52	8.44	21.75	11.73	8.82	-25.11	-6.77	-28.54	2.08

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	4,245	5,243	6,499	7,109	7,735	7,923	14,785	16,793	15,419	15,404	14,759	48,999	43,669	39,505	32,567
ST Debt	26	31	17	1,107	119	82	30	1,819	609	335	339	365	1,780	2,748	139
LT Debt	4,219	5,212	6,482	6,002	7,616	7,841	14,755	14,974	14,810	15,069	14,420	48,634	41,889	36,757	32,428
Total Debt/EBITDA	1.59	1.84	1.89	1.77	1.89	1.91	3.39	2.3	2.09	2.19	2.09	2.74	1.89	1.88	1.73
Net Debt/EBITDA	1.2	1.42	1.77	1.68	1.8	1.84	1.72	2.17	1.88	1.89	1.54	2.53	1.73	1.63	1.49
Total Debt/EBIT	2.49	2.81	3.3	3.35	3.77	3.86	6.98	6.46	4.83	5.64	7.48	-14.02	-49.29	2,194.72	24.88
Net Debt/EBIT	1.88	2.17	3.09	3.18	3.58	3.71	3.53	6.08	4.35	4.88	5.5	-12.95	-45.02	1,899.61	21.39
EBITDA to Interest Expense	12.83	11.48	11.24	12.21	12.4	11.75	9.18	9.99	10.92	10.87	11.15	10.05	10.41	10.41	9.04
EBITDA-CapEx/Interest Expense	12.55	11.17	10.86	11.85	12.08	11.5	8.89	9.79	10.49	10.25	10.56	9.49	9.82	9.94	8.45
EBIT to Interest Expense	8.19	7.52	6.44	6.46	6.22	5.82	4.46	3.57	4.71	4.21	3.12	-1.97	-0.4	0.01	0.63
Interest Expense	208	248	306	328	330	353	475	729	677	648	633	1,777	2,221	2,017	2,085
Common Equity/Total Assets	54.69	48.64	41.35	35.07	34.35	32.96	20.44	25.76	29.32	30.7	33.69	35.15	36.84	32.55	35.89
Long-Term Debt/Equity (%)	64.72	82.82	103.99	94.5	133.8	144.94	293.75	142.38	123.77	121.69	107.64	99.93	90.14	105.21	87.25
Long-Term Debt/Capital (%)	39.2	45.18	50.91	44.59	56.72	58.81	74.49	54.83	54.08	54.23	51.22	49.8	46.47	49.38	46.5
Long-Term Debt/Total Assets (%)	35.42	40.31	43.27	37.58	48.01	50.03	65.42	46	43.9	44.21	41.89	36.29	34.12	35.15	32.4
Total Debt/Equity (%)	65.12	83.31	104.27	111.94	135.89	146.45	294.35	159.67	128.86	124.4	110.17	100.68	93.97	113.07	87.63
Total Debt/Capital (%)	39.44	45.45	51.04	52.82	57.61	59.42	74.64	61.49	56.3	55.44	52.42	50.17	48.45	53.07	46.7
Total Debt/Total Assets (%)	35.63	40.55	43.39	44.51	48.76	50.56	65.55	51.59	45.71	45.19	42.87	36.57	35.57	37.78	32.54
Net Debt to Equity	49.04	64.23	97.72	106.16	129.04	140.91	148.84	150.3	115.89	107.51	81.02	93.02	85.83	97.87	75.34
Net Debt/Capital (%)	32.9	39.11	49.42	51.49	56.34	58.49	59.81	60.05	53.68	51.81	44.76	48.19	46.19	49.46	42.97
EBITDA	2,669	2,847	3,438	4,006	4,091	4,148	4,359	7,286	7,390	7,045	7,056	17,858	23,123	21,001	18,848
EBITDA-CapEx	2,611	2,770	3,323	3,886	3,988	4,060	4,224	7,139	7,101	6,643	6,683	16,871	21,807	20,053	17,617
Operating Income (Loss)	1,704	1,865	1,972	2,120	2,052	2,053	2,119	2,600	3,190	2,730	1,973	-3,496	-886	18	1,309

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	1.4	1.27	0.32	0.14	0.25	0.19	3.91	0.25	0.48	0.68	1.13	0.25	0.25	0.34	0.37
Current Ratio	3.26	2.89	1.86	0.96	1.64	1.6	5.34	1.06	1.61	1.99	2.1	0.93	0.93	0.89	1.06
Quick Ratio	2.8	2.46	1.37	0.69	1.18	1.15	4.89	0.9	1.29	1.5	1.84	0.76	0.72	0.71	0.87
CFO/Avg Current Liab	1.44	1.3	1.15	0.68	0.62	0.88	0.95	0.88	0.94	0.87	0.86	0.47	0.49	0.35	0.31
Common Equity/Total Assets	54.69	48.64	41.35	35.07	34.35	32.96	20.44	25.76	29.32	30.7	33.69	35.15	36.84	32.55	35.89
Long-Term Debt/Equity (%)	64.72	82.82	103.99	94.5	133.8	144.94	293.75	142.38	123.77	121.69	107.64	99.93	90.14	105.21	87.25
Long-Term Debt/Capital (%)	39.2	45.18	50.91	44.59	56.72	58.81	74.49	54.83	54.08	54.23	51.22	49.8	46.47	49.38	46.5
Long-Term Debt/Total Assets (%)	35.42	40.31	43.27	37.58	48.01	50.03	65.42	46	43.9	44.21	41.89	36.29	34.12	35.15	32.4
Total Debt/Equity (%)	65.12	83.31	104.27	111.94	135.89	146.45	294.35	159.67	128.86	124.4	110.17	100.68	93.97	113.07	87.63
Total Debt/Capital (%)	39.44	45.45	51.04	52.82	57.61	59.42	74.64	61.49	56.3	55.44	52.42	50.17	48.45	53.07	46.7
Total Debt/Total Assets (%)	35.63	40.55	43.39	44.51	48.76	50.56	65.55	51.59	45.71	45.19	42.87	36.57	35.57	37.78	32.54
CFO/Total Liabilities	20.39	16.56	14.69	13.7	12.72	13.45	9.29	11.69	15.61	12.62	13.3	5.04	9.8	7.72	6.86
CFO/CapEx	18.97	14.27	11.17	10.98	12.56	15.68	12.07	17.52	11.76	6.81	7.5	4.36	5.68	5.67	3.51
Altman's Z-Score	4.46	4.61	5.18	5.81	5.91	6.01	2.91	4.29	4.33	3.96	3.57	1.03	1.48	0.96	1.65

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	8	4.13	4.43	4.47	4.39	4.37	4.12	4.73	4.24	4.13	4.89	7.66	6.65	7.15	7.28
Days Sales Outstanding	45.62	88.34	82.46	81.68	83.12	83.54	88.5	77.1	86.03	88.42	74.6	47.63	54.89	51.03	50.11
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	16.8	19.65	15.93	11.61	9.24	9.3	10.25	13.07	9.69	8.98	11.42	21.91	18.07	19.84	19.45
Accounts Payable Turnover Days	21.73	18.58	22.91	31.45	39.49	39.25	35.59	27.92	37.66	40.66	31.96	16.66	20.2	18.39	18.77
Cash Conversion Cycle	23.9	69.76	59.56	50.23	43.62	44.29	52.91	49.18	48.37	47.76	42.64	30.97	34.69	32.63	31.34
Inventory to Cash Days	45.62	88.34	82.46	81.68	83.12	83.54	88.5	77.1	86.03	88.42	74.6	47.63	54.89	51.03	50.11
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	7,960	11,198	14,896	15,120	11,152	10,690	8,483	12,945	17,188	14,639	11,906	23,036	27,756	25,939	71,474
- Cash & Cash Equivalents	1,048	1,201	408	367	390	300	7,309	986	1,552	2,091	3,905	3,731	3,780	5,312	4,566
+ Preferred Equity and Hybrid Capital	2	2	2	2	2	2	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	2	2	37	749	241	243	413	2,131	2,075	1,919	1,797	1,572	1,246	901	1,247
+ Total Debt	4,245	5,243	6,499	7,109	7,735	7,923	14,785	16,793	15,419	15,404	14,759	48,999	43,669	39,505	32,567
Enterprise Value	11,161	15,244	21,026	22,613	18,740	18,558	16,372	30,883	33,130	29,871	24,557	69,876	68,891	61,033	100,722
Total Capital	10,764	11,536	12,732	13,460	13,427	13,333	19,808	27,310	27,385	27,787	28,155	97,666	90,141	74,443	69,733
Total Debt/Capital (%)	39.44	45.45	51.04	52.82	57.61	59.42	74.64	61.49	56.3	55.44	52.42	50.17	48.45	53.07	46.7
Total Debt / EV	0.38	0.34	0.31	0.31	0.41	0.43	0.9	0.54	0.47	0.52	0.6	0.7	0.63	0.65	0.32
EV/Sales	2.68	3.4	3.8	3.61	2.93	2.86	2.38	2.93	2.97	2.8	2.01	2.07	1.67	1.55	2.7
EV/EBITDA	4.18	5.35	6.12	5.64	4.58	4.47	3.76	4.24	4.48	4.24	3.48	3.91	2.98	2.91	5.34
EV/EBIT	6.55	8.17	10.66	10.67	9.13	9.04	7.73	11.88	10.39	10.94	12.45	- -	- -	3,390.71	76.95
EV/Cash Flow to Firm	8.92	12.14	14.26	14.77	12.36	11.33	6.03	10.09	8.18	9.2	7.38	12.15	7.45	8.24	19.11
EV/Free Cash Flow to Firm	8.53	11.44	13.23	13.69	11.58	10.76	5.75	9.62	7.63	8.19	6.64	10.37	6.52	7.3	15.49
Diluted Market Cap	17,285	50,200	34,013	23,667	17,502	16,720	12,891	17,021	23,278	20,220	15,631	18,391	27,722	25,896	72,915
Diluted Enterprise Value	20,486	54,246	40,143	31,160	25,090	24,588	20,780	34,959	39,220	35,452	28,282	65,231	68,857	60,990	102,163
EV per Share	29.92	45.02	66.5	51.52	44.83	47.58	43.19	59.02	63.11	61.4	48.55	28.76	28.25	24.87	40.61
TTM Sales	4,168	4,487	5,535	6,265	6,394	6,497	6,873	10,553	11,144	10,671	12,191	33,817	41,321	39,321	37,296
TTM EBITDA	2,669	2,847	3,438	4,006	4,091	4,148	4,359	7,286	7,390	7,045	7,056	17,858	23,123	21,001	18,848
TTM Operating Income	1,704	1,865	1,972	2,120	2,052	2,053	2,119	2,600	3,190	2,730	1,973	-3,496	-886	18	1,309
TTM Cash Flow to Firm	1,251	1,255	1,475	1,531	1,516	1,637	2,714	3,062	4,052	3,247	3,327	5,751	9,247	7,409	5,272
TTM Free Cash Flow to Firm	1,309	1,332	1,590	1,651	1,619	1,725	2,849	3,209	4,341	3,649	3,700	6,738	10,563	8,357	6,503

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	14.93	42.69	24.3	16.46	12.53	11.39	7.31	6.25	6.31	6.44	4.93	3.48	3.15	4.1	13.14
EV/EBIT	6.55	8.17	10.66	10.67	9.13	9.04	7.73	11.88	10.39	10.94	12.45	- -	- -	3,390.71	76.95
Enterprise Value	11,161	15,244	21,026	22,613	18,740	18,558	16,372	30,883	33,130	29,871	24,557	69,876	68,891	61,033	100,722
Low Price	18.1	20.96	33.57	31.29	25.02	23.66	15.99	20.6	24.11	17.12	21.66	8.82	9.27	6.64	7.52
EV/Sales	2.68	3.4	3.8	3.61	2.93	2.86	2.38	2.93	2.97	2.8	2.01	2.07	1.67	1.55	2.7
EV/EBITDA	4.18	5.35	6.12	5.64	4.58	4.47	3.76	4.24	4.48	4.24	3.48	3.91	2.98	2.91	5.34
Price/Earnings	9.97	12.24	14.5	13.73	11.15	13.93	- -	28.39	11.17	13.93	13.21	- -	- -	- -	98.11
Price/Earnings Average	9.96	10.15	12.69	15.9	12.82	13.58	-41.87	30.49	9.9	11.03	19.21	-4.62	-9.83	-1.88	48.66
Price/Earnings High	11.15	12.43	14.56	18.74	14.6	15.12	-51.63	40.04	11.48	15.22	43.87	-8.25	-12.73	-2.75	102.13
Price/Earnings Low	8.46	7.76	10.33	12.47	10.45	12.02	-27.29	23.64	8.22	7.92	12.16	-2.31	-7.22	-1.44	25.6
Price/Book Value	1.22	1.78	2.4	2.7	2.05	2.07	1.84	1.54	1.74	1.4	1.03	0.49	0.61	0.76	1.99
Price/Book Value Average	1.22	1.48	2.1	3.13	2.35	2.02	2.02	1.66	1.54	1.11	1.49	0.91	0.68	0.63	0.99
Price/Book Value High	1.37	1.81	2.41	3.69	2.68	2.25	2.49	2.18	1.79	1.53	3.41	1.63	0.88	0.92	2.07
Price/Book Value Low	1.04	1.13	1.71	2.45	1.92	1.79	1.31	1.29	1.28	0.8	0.94	0.46	0.5	0.48	0.52
Price/Tangible Book Value	-4.83	-4.92	-3.24	-2.3	-1.72	-1.65	-1.32	-0.75	-1.15	-1.07	-1.04	-0.39	-0.56	-0.6	-1.94
Price/Tangible Book Value Average	-4.82	-4.08	-2.84	-2.66	-1.98	-1.61	-1.44	-0.8	-1.02	-0.85	-1.51	-0.73	-0.62	-0.5	-0.96
Price/Tangible Book Value High	-5.4	-5	-3.25	-3.14	-2.26	-1.79	-1.78	-1.05	-1.18	-1.17	-3.45	-1.3	-0.81	-0.72	-2.02
Price/Tangible Book Value Low	-4.09	-3.12	-2.31	-2.09	-1.62	-1.42	-0.94	-0.62	-0.85	-0.61	-0.96	-0.36	-0.46	-0.38	-0.51
Price/Sales	2.71	2.57	2.82	2.5	1.8	1.69	1.25	1.17	1.55	1.42	0.97	0.54	0.67	0.66	1.91
Price/Sales Average	2.71	2.13	2.46	2.89	2.07	1.65	1.37	1.25	1.38	1.13	1.41	1.01	0.74	0.54	0.95
Price/Sales High	3.03	2.61	2.83	3.41	2.36	1.84	1.69	1.65	1.6	1.56	3.22	1.81	0.96	0.79	1.99
Price/Sales Low	2.3	1.63	2.01	2.27	1.69	1.46	0.89	0.97	1.14	0.81	0.89	0.51	0.55	0.41	0.5
Price/Cash Flow	10.27	10.5	12.13	11.87	8.91	7.96	5.28	4.78	5.1	5.55	4.23	4.27	3.71	4.82	16.52
Price/Cash Flow Average	10.25	8.71	10.61	13.74	10.24	7.76	5.78	5.14	4.52	4.39	6.15	7.96	4.11	3.96	8.19
Price/Cash Flow High	11.48	10.67	12.18	16.2	11.66	8.64	7.13	6.75	5.24	6.06	14.05	14.22	5.32	5.79	17.19
Price/Cash Flow Low	8.71	6.65	8.65	10.78	8.35	6.88	3.77	3.98	3.75	3.16	3.89	3.98	3.02	3.03	4.31
Price/Free Cash Flow Average	14.91	35.41	21.26	19.06	14.41	11.1	8.01	6.71	5.6	5.1	7.17	6.47	3.49	3.36	6.52
Price/Free Cash Flow High	16.69	43.37	24.38	22.46	16.41	12.36	9.88	8.82	6.49	7.04	16.36	11.57	4.53	4.92	13.68
Price/Free Cash Flow Low	12.66	27.06	17.31	14.95	11.75	9.83	5.22	5.2	4.65	3.66	4.54	3.23	2.57	2.57	3.43
EV/Sales Average	2.68	2.97	3.46	3.99	3.19	2.81	2.5	3.02	2.8	2.51	2.46	2.65	1.74	1.43	1.73
EV/Sales High	2.9	3.44	3.81	4.49	3.47	3	2.82	3.43	3.02	2.93	4.28	3.65	1.96	1.69	2.78
EV/Sales Low	2.39	2.48	3.03	3.39	2.82	2.63	2.03	2.72	2.57	2.21	1.94	2.02	1.54	1.31	1.28
EV/EBITDA Average	4.18	4.68	5.57	6.24	4.99	4.41	3.94	4.37	4.22	3.81	4.25	5.03	3.11	2.69	3.43
EV/EBITDA High	4.53	5.42	6.13	7.02	5.42	4.69	4.44	4.97	4.55	4.43	7.39	6.92	3.5	3.16	5.5
EV/EBITDA Low	3.73	3.91	4.87	5.3	4.41	4.12	3.2	3.94	3.87	3.34	3.35	3.82	2.76	2.45	2.54
EV/EBIT Average	6.54	7.15	9.72	11.79	9.95	8.91	8.11	12.25	9.77	9.83	15.18	-25.67	-81.15	3,133.1	49.42
EV/EBIT High	7.1	8.27	10.69	13.27	10.82	9.48	9.13	13.92	10.54	11.44	26.44	-35.33	-91.41	3,681.1	79.18
EV/EBIT Low	5.84	5.97	8.49	10.01	8.79	8.33	6.58	11.05	8.97	8.63	11.96	-19.53	-71.95	2,854.92	36.59
Last Price	21.34	33.07	47.11	34.45	26.68	27.41	22.38	24.74	32.74	30.09	23.54	9.48	11.38	10.57	28.82
High Price	23.86	33.6	47.28	47.02	34.94	29.75	30.25	34.89	33.66	32.89	78.14	31.55	16.34	12.7	30
Enterprise Value Average	11,150	13,334	19,162	25,002	20,415	18,288	17,189	31,841	31,182	26,826	29,960	89,746	71,899	56,396	64,697
Enterprise Value High	12,101	15,423	21,080	28,130	22,193	19,470	19,355	36,194	33,614	31,233	52,174	123,506	80,988	66,260	103,648
Enterprise Value Low	9,952	11,143	16,745	21,226	18,046	17,095	13,950	28,717	28,600	23,561	23,607	68,273	63,745	51,389	47,898

Shares Outstanding	373	339	316	439	418	390	379	523	525	487	506	2,430	2,439	2,454	2,480
Diluted Weighted Avg Shares	810	1,518	722	687	656	610	576	688	711	672	664	1,940	2,436	2,450	2,530
Basic Weighted Avg Shares	529	349	331	454	432	401	384	498	529	505	503	1,940	2,436	2,450	2,475
Revenue per Share	7.88	12.86	16.72	13.8	14.8	16.2	17.9	21.19	21.07	21.13	24.24	17.43	16.96	16.05	15.07
EBITDA per Share	5.04	8.16	10.39	8.82	9.47	10.34	11.35	14.63	13.97	13.95	14.03	9.21	9.49	8.57	7.62
Operating Income per Share	3.22	5.34	5.96	4.67	4.75	5.12	5.52	5.22	6.03	5.41	3.92	-1.8	-0.36	0.01	0.53
Basic EPS, GAAP	2.14	2.7	3.25	2.51	2.39	1.97	-0.59	0.87	2.93	2.16	1.78	-3.82	-1.28	-4.62	0.29
Basic EPS from Cont Ops	2.15	2.74	3.25	2.5	2.43	3.04	-0.82	1.37	4.18	2.68	2.38	-3.76	-1.26	-4.69	0.3
Diluted EPS, GAAP	1.4	0.62	1.49	1.66	1.58	1.29	-0.39	0.63	2.18	1.62	1.35	-3.82	-1.28	-4.62	0.29
Diluted EPS from Cont Ops	1.4	0.63	1.49	1.66	1.6	2	-0.54	0.99	3.11	2.02	1.8	-3.76	-1.26	-4.69	0.3
Dividend per Share	0.01	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	2.08	3.15	3.88	2.9	3	3.44	4.24	5.17	6.43	5.42	5.56	2.22	3.07	2.19	1.75
Free Cash Flow per Basic Share	1.97	2.93	3.54	2.64	2.76	3.22	3.89	4.88	5.88	4.63	4.82	1.71	2.53	1.81	1.25
Cash & Equivalents per Share	2.81	3.55	1.29	0.84	0.93	0.77	19.28	1.88	2.96	4.3	7.72	1.54	1.55	2.16	1.84
Book Value per Share	17.47	18.57	19.59	12.76	13.04	13.24	12.16	16.03	18.84	21.51	22.93	19.38	18.54	13.87	14.48
Tangible Book Value per Share	-4.42	-6.72	-14.53	-14.99	-15.49	-16.61	-17.01	-33.18	-28.49	-28.13	-22.66	-24.27	-20.2	-17.54	-14.88

Warner Bros. Discovery, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)