Warner Music Group Corp.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $6.71B | $6.43B | $6.04B | $5.92B | $5.30B | $4.46B | $4.48B | $4.01B |
| Cost of Revenue | $3.63B | $3.36B | $3.18B | $3.08B | $2.74B | $2.33B | $2.40B | $2.17B |
| Gross Profit | $3.08B | $3.07B | $2.86B | $2.84B | $2.56B | $2.13B | $2.07B | $1.83B |
| Gross Margin | 45.8% | 47.8% | 47.4% | 48.0% | 48.3% | 47.7% | 46.3% | 45.8% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $1.89B | $1.88B | $1.83B | $1.86B | $1.72B | $2.17B | $1.51B | $1.41B |
| Operating Income | $694.0M | $823.0M | $790.0M | $714.0M | $609.0M | $-229.0M | $356.0M | $217.0M |
| Operating Margin | 10.3% | 12.8% | 13.1% | 12.1% | 11.5% | -5.1% | 8.0% | 5.4% |
| Interest Expense | $177.0M | $182.0M | $157.0M | $125.0M | $119.0M | — | — | — |
| Pretax Income | $490.0M | $601.0M | $609.0M | $740.0M | $456.0M | $-447.0M | $267.0M | $442.0M |
| Income Tax Expense | $120.0M | $123.0M | $170.0M | $185.0M | $149.0M | $23.0M | $9.0M | $130.0M |
| Net Income | $365.0M | $435.0M | $430.0M | $551.0M | $304.0M | $-475.0M | $256.0M | $307.0M |
| Net Margin | 5.4% | 6.8% | 7.1% | 9.3% | 5.7% | -10.6% | 5.7% | 7.7% |
| EPS (Basic) | — | — | — | — | — | — | — | — |
| EPS (Diluted) | — | — | — | — | — | — | — | — |
| Shares Outstanding (Basic) | — | — | — | — | — | — | 1.1K | 1.1K |
| Shares Outstanding (Diluted) | — | — | — | — | — | — | 1.1K | 1.1K |
| Dividends Per Share | $0.73 | $0.69 | $0.65 | $0.61 | $0.51 | — | — | — |