Warner Bros Discovery Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Warner Bros Discovery Inc (WBD) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Warner Bros Discovery Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 37,210M vs 314,796M combined for its competitors (10.6% combined share).
- Trending: Latest-quarter revenue run-rate is decelerating (-4.4% annualized vs trailing 12 months), vs holding steady (+0.6%) for its tracked peer group.
- Growth: Warner Bros Discovery Inc generated -1.0% revenue growth year over year in Q1 2026, vs 6.5% for its competitors combined.
- Profitability: Its -32.7% net margin compares with 13.0% for the peer group.
- Peer revenue share: Warner Bros Discovery Inc accounted for 10.1% of combined revenue among its tracked peer group, down from 10.8% a year earlier.
- Peer differentiation: Revenue per employee of $1.05M compares with $0.74M for the peer group (1.4x).
- Structure: Warner Bros Discovery Inc operates in the following segments: Global Linear Networks, Studios, Streaming, Corporate and Unallocated.
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
WBD Sales vs. its Competitors, Q1 2026
Warner Bros Discovery Inc reported revenue contraction of 0.96 % year on year in Q1 2026, below its competitors' combined revenue growth of 6.50 %.
With a net margin of -32.68 %, Warner Bros Discovery Inc reported lower profitability than its competitors (13.04 %).
Warner Bros Discovery Inc generated 10.10 % of the combined sales of its peer group, down from 10.78 % a year earlier.
API endpoints for this dataset
Warner Bros Discovery Inc vs. its Competitors, Q1 2026
Revenue growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Warner Bros Discovery Inc reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Warner Bros Discovery Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Warner Bros Discovery Inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (8) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (4) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Warner Bros Discovery Inc's competitor groups requires a Commercial License.
For context: the Broadcasting Media & Cable TV industry grew revenue 4.9% year over year, combined, vs -1.0% for Warner Bros Discovery Inc. Warner Bros Discovery Inc's share of combined industry revenue moved from 5.11% to 4.82%, a loss of 0.29 percentage points.
Warner Bros Discovery Inc's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Warner Bros Discovery Inc | No | No | No | No |
| Competitors combined (14) | ||||
| High-Confidence Competitors (10) | ||||
| Similar Growth & Profitability (8) | 12.50 % (1 of 8) | 0.00 % (0 of 8) | 0.00 % (0 of 8) | 12.50 % (1 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
WBD Stock Performance relative to its Competitors
WBD Stock Performance relative to High-Confidence Competitors
WBD Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Lionsgate Studios Corp | 282.9% | Outperformed |
| 2 | Roku Inc | 282.9% | Outperformed |
| 3 | Amc Global Media Inc | 282.9% | Outperformed |
| 4 | Walt Disney Co | 282.9% | Outperformed |
| 5 | News Corporation | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Warner Bros Discovery Inc's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Warner Bros Discovery Inc's Comment on Competition and Industry Peers
Publicly Traded Peers of Warner Bros Discovery Inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Warner Bros Discovery Inc |
77,127.40 | 37,210.00 |
 Netflix Inc |
266,013.00 | 49,734.63 |
 Walt Disney Co |
203,495.25 | 98,861.00 |
 Sony Group Corporation |
164,026.73 | 85,067.32 |
 Comcast corporation |
86,877.18 | 123,004.00 |
 Fox Corporation |
28,521.92 | 17,485.00 |
| SUBTOTAL | 887,459.81 | 465,829.34 |
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Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Warner Bros Discovery Inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Warner Bros Discovery Inc's Competitors Named by the Company
Competitive relationships identified from Warner Bros Discovery Inc reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Nexstar Media Group Inc | Company report | 85% |
| Dolphin Entertainment Inc | Company report | 85% |
| The Arena Group Holdings Inc | Company report | 85% |
| Newsmax Inc | Company report | 85% |
| Grupo Televisa S a b | Company report | 85% |
| Falcon s Beyond Global Inc | Company report | 85% |
| The New York Times Company | Company report | 85% |
| Chicken Soup For The Soul Entertainment inc | Company report | 85% |
| Fubotv Inc | Company report | 85% |
| Time Inc | Company report | 85% |
| News Corporation | Company report | 85% |
| In Media Corp | Company report | 85% |
| Starz Entertainment Corp | Company report | 85% |
| Amc Global Media Inc | Company report | 85% |
| Walt Disney Co | Company report | 85% |
| Roku Inc | Company report | 85% |
| Netflix Inc | Company report | 85% |
| Fox Corporation | Company report | 85% |
| Sony Group Corporation | Company report | 85% |
| Comcast corporation | Company report | 85% |
| Paramount Global | Company report | 85% |
| Goliath Film And Media Holdings | Company report | 85% |
Company report basis, confidence, active dates and source counts for Warner Bros Discovery Inc's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Warner Bros Discovery Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Warner Bros Discovery Inc | Global Linear Networks 49.22 % |
| Netflix Inc | Reportable 100.00 % |
| Comcast corporation | Residential Connectivity and Platforms 58.09 % |
| Fox Corporation | Television 59.35 % |
| Roku Inc | Advertising 48.43 % |
| News Corporation | Dow Jones 27.62 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
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Warner Bros Discovery Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Warner Bros Discovery Inc | 77,127 | 1,048,169 | -48,113 |
| Netflix Inc | 266,013 | 3,108,415 | 922,916 |
| Walt Disney Co | 203,495 | 427,970 | 39,983 |
| Sony Group Corporation | 164,027 | 896,389 | 80,243 |
| Comcast corporation | 86,877 | 687,173 | 61,257 |
| Fox Corporation | 28,522 | 1,657,346 | 188,436 |
| PEERS TOTAL | 810,332 | 743,720 | 79,409 |
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Warner Bros Discovery Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| News Corporation | United States and Canada 48.38 % |
| Lionsgate Studios Corp | UNITED STATES 64.70 % |
| Amc Global Media Inc | North America 80.71 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Warner Bros Discovery Inc's Position in Industry Market Structure
Market-capitalization share and concentration across all 40 companies in Warner Bros Discovery Inc's industry classification, broader than the peer set above. Market cap in millions of $.Warner Bros Discovery Inc ranks #0 of 40 companies by market capitalization in its industry, holding 0.00 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 1,834, indicating a moderately concentrated market structure (see Methodology: Market Structure & Concentration).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Netflix Inc | 270,209 | 31.22 % |
| 2 | Liberty Media Corporation | 191,919 | 22.17 % |
| 3 | Spotify Technology S a | 125,944 | 14.55 % |
| 4 | Comcast corporation | 87,072 | 10.06 % |
| 5 | Everpure Inc | 1,234 | 5.2% |
| 6 | Tencent Music Entertainment Group | 1,234 | 5.2% |
| 7 | Fox Corporation | 1,234 | 5.2% |
| 8 | Roku Inc | 1,234 | 5.2% |
| 9 | Charter Communications Inc | 1,234 | 5.2% |
| 10 | Rogers Communications Inc | 1,234 | 5.2% |
| 0 | Warner Bros Discovery Inc | 79,696 | 0.00 % |
Market cap and industry share for the rest of Warner Bros Discovery Inc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-10-06.
Warner Bros Discovery Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Broadcasting Media & Cable TV industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (78 companies). See the full Broadcasting Media & Cable TV industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 45.18 % | 29.09 % (avg) | +16.1 pp |
| Operating Margin | -4.55 % | industry median | -10.4 pp |
| EBITDA Margin | 26.44 % | 11.69 % (avg) | +14.7 pp |
| Capital Intensity (Capex / Revenue) | 3.35 % | 7.06 % (avg) | -3.7 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Warner Bros Discovery Inc's Valuation vs Competitive Position
Valuation multiples vs the Broadcasting Media & Cable TV industry average (78 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Broadcasting Media & Cable TV industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | - | 22.1x | - |
| EV / EBITDA | 10.0x | 14.6x | -4.5x |
| P/B | 1.9x | 3.5x | -1.6x |
| Return on Equity | -4.70 % | industry aggregate | -19.98 % |
| Return on Invested Capital | -1.28 % | 4.56 % (avg) | -5.84 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Warner Bros Discovery Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 61.14 % | -8.87 % | -4.24 % | 14.24 % | - | 22.19 % | -4.84 % | -5.15 % |
| Operating Margin | 6.17 % | 27.00 % | 23.57 % | 16.50 % | -21.79 % | -3.75 % | -25.51 % | 1.98 % |
| Return on Invested Capital | 3.13 % | 11.29 % | 8.79 % | 6.58 % | -5.20 % | -0.98 % | -7.62 % | 0.55 % |
| P/E | - | 10.9x | - | - | - | - | - | 80.6x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Warner Bros Discovery Inc's Strategic Group Map
Warner Bros Discovery Inc is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
Warner Bros Discovery Inc's trailing-12-month revenue growth of -3.0% and operating margin of -4.6% compares with an average of -4.6% growth and -0.1% margin across its 8 closest peers by combined growth, margin and ROIC -- Warner Bros Discovery Inc sits above that peer average on growth and below it on margin.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Warner Bros Discovery Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | Moderate | Industry HHI of 1,834 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 3.35 % vs industry average 7.06 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Warner Bros Discovery Inc's dedicated Suppliers and Customers pages, not here.
Warner Bros Discovery Inc's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Warner Bros Discovery Inc falls in the Medium attractiveness / High strength cell: Invest / Grow.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Warner Bros Discovery Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
No rule matched.
Weaknesses
- Operating margin 10.4 points below the industry median.
- Return on equity 20.0 points below the industry aggregate.
- Latest-quarter revenue run-rate is decelerating (-4.4% annualized vs trailing 12 months).
Opportunities
No rule matched.
Threats
No rule matched.
Methodology: see Methodology: SWOT Analysis.
Warner Bros Discovery Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Warner Bros Discovery Inc | 0.32 | 0.96 | 0.92 |
| Netflix Inc | 0.81 | 1.20 | 0.50 |
| Walt Disney Co | 0.16 | 0.70 | 0.38 |
| Sony Group Corporation | 0.28 | 0.70 | 0.28 |
| Comcast corporation | 0.26 | 0.84 | 1.49 |
| Fox Corporation | - | 3.19 | 0.55 |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Warner Bros Discovery Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Warner Bros Discovery Inc | Q1 2026 | -1.0 % | - |
| Netflix Inc | Q3 2026 | +11.8 % | +43.9 % |
| Walt Disney Co | Q2 2026 | +6.8 % | -52.1 % |
| Sony Group Corporation | Q1 2025 | -5.7 % | +12.1 % |
| Comcast corporation | Q3 2026 | -6.1 % | +6.1 % |
| Fox Corporation | Q3 2026 | +39.1 % | +33.1 % |
| PEERS TOTAL | -0.7 % | +13.8 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Warner Bros Discovery Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Warner Bros Discovery Inc | Q1 2026 | -9.5 % | +6.8 % |
| Netflix Inc | Q3 2026 | -1.4 % | +69.2 % |
| Walt Disney Co | Q2 2026 | - | +0.8 % |
| Sony Group Corporation | Q1 2025 | -0.4 % | - |
| Comcast corporation | Q3 2026 | - | -1.5 % |
| Fox Corporation | Q3 2026 | - | -5.0 % |
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Warner Bros Discovery Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Warner Bros Discovery Inc | - | - | - |
| Netflix Inc | 25.27% | 31.72% | 50.41% |
| Walt Disney Co | 4.59% | 5.45% | 8.01% |
| Sony Group Corporation | 3.23% | 4.64% | 13.41% |
| Comcast corporation | 4.19% | 4.88% | 11.93% |
| Fox Corporation | 8.75% | 10.40% | 16.56% |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Warner Bros Discovery Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Warner Bros Discovery Inc | - | 2.07 |
| Netflix Inc | 18.33 | 5.35 |
| Walt Disney Co | 24.07 | 2.06 |
| Sony Group Corporation | 0.14 | 1.93 |
| Comcast corporation | 7.69 | 0.71 |
| Fox Corporation | 15.08 | 1.63 |
| PEERS AVERAGE | 20.14 | 1.91 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.