How Does Warner Bros. Discovery Stock Stack Up Against Its Peers?
Warner Bros. Discovery (WBD) stock has significantly outperformed its peers [SPOT, EVC, FOXA] over the past year. However, how does it truly measure up in growth and profitability as of December 2, 2025? A closer look reveals substantial revenue and a solid free cash flow margin, but struggles with negative revenue growth and a high P/E ratio. These factors indicate potential headwinds in a dynamic media landscape, as WBD navigates strategic reviews, potential acquisitions, and industry shifts towards streaming and ad-supported models.
- WBD’s 3.7% operating margin is modest, trailing FOXA’s 19.7% amidst WBD’s linear TV decline and high debt, despite streaming growth efforts.
- WBD’s -4.3% revenue growth lags peers due to linear TV cord-cutting and advertising headwinds, though its studios and streaming show some growth.
- WBD’s 132.3% gain and 99.8 PE reflect market optimism for its streaming turnaround, debt reduction, and strategic split despite mixed fundamentals.
Here’s how Warner Bros. Discovery stacks up across size, valuation, and profitability versus key peers.
| WBD | SPOT | EVC | FOXA | |
|---|---|---|---|---|
| Market Cap ($ Bil) | 60.8 | 118.8 | 0.3 | 29.6 |
| Revenue ($ Bil) | 37.9 | 16.9 | 0.4 | 16.5 |
| PE Ratio | 99.8 | 102.3 | -1.8 | 13.9 |
| LTM Revenue Growth | -4.3% | 11.9% | 25.0% | 14.9% |
| LTM Operating Margin | 3.7% | 11.7% | 2.0% | 19.7% |
| LTM FCF Margin | 10.9% | 17.3% | 1.3% | 16.2% |
| 12M Market Return | 132.3% | 20.1% | 22.7% | 43.0% |
For more details on Warner Bros. Discovery, read Buy or Sell WBD Stock. Below we compare WBD’s growth, margin, and valuation with peers across years
Revenue Growth Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| WBD | -4.3% | – | -4.8% | 22.2% | 177.4% |
| SPOT | 11.9% | – | 18.3% | 13.0% | 21.3% |
| EVC | 25.0% | – | 22.9% | -8.3% | -57.4% |
| FOXA | 14.9% | 16.6% | -6.3% | 6.7% |
Operating Margin Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| WBD | 3.7% | – | 0.0% | -2.1% | -10.3% |
| SPOT | 11.7% | – | 8.7% | -3.4% | -5.6% |
| EVC | 2.0% | – | 2.5% | -3.5% | 9.8% |
| FOXA | 19.7% | 19.8% | 17.7% | 18.5% |
PE Ratio Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| WBD | 99.8 | – | -2.3 | -8.9 | -2.5 |
| SPOT | 102.3 | – | 78.9 | -68.8 | -35.4 |
| EVC | -1.8 | – | -1.4 | -23.7 | 22.6 |
| FOXA | 13.9 | 9.8 | 9.4 | 13.0 |
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