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Warner Music Group Corp. Stock Research

WMG

24.96USD-0.25(-0.99%)Delayed

Market Summary

USD24.96-0.25
Delayed
-0.99%

WMG Alerts

WMG Stock Price

WMG RSI Chart

WMG Valuation

WMG Price/Sales (Trailing)

WMG Profitability

EBT Margin

11.20%

Return on Equity

180%

Return on Assets

5.98%

WMG Fundamentals

WMG Revenue

Revenue (TTM)

5.8B

Revenue Y/Y

1.67%

Revenue Q/Q

-5.98%

WMG Earnings

Earnings (TTM)

428.0M

Earnings Y/Y

-63.04%

Earnings Q/Q

-72.13%

Price Action

52 Week Range

21.4438.76
(Low)(High)

Last 7 days

-2.0%

Last 30 days

-18.7%

Last 90 days

-22.5%

Trailing 12 Months

-12.7%

WMG Financial Health

Current Ratio

0.7

Debt/Equity

13.82

Debt/Cashflow

0.22

WMG Investor Care

Dividend Yield

2.52%

Dividend/Share (TTM)

0.63

Peers (Alternatives to Warner Music Group)

View All Peers In Detail
NameMkt Capsorted ascendingRevenuePrice %, 1MReturns, 1YP/EP/SRev 1-YrInc 1-Yr
LARGE-CAP
168.4B
31.9B
17.98% 97.95%
40.11
5.28
4.96% -16.12%
161.1B
87.0B
-8.61% -16.40%
39.1
1.85
13.52% 55.45%
19.0B
18.0B
25.57% -11.56%
55.39
1.06
131.42% 187.08%
MID-CAP
7.8B
1.3B
-5.51% 51.46%
40.09
6.07
7.77% -16.73%
5.4B
4.1B
-10.60% -62.06%
-5.52
1.37
28.90% 16.15%
4.3B
-
-10.28% 13.67%
50.82
5.31
97.57% 14.51%
2.0B
1.6B
-11.45% -39.17%
-104.15
1.24
53.79% 81.37%
SMALL-CAP
2.1B
1.9B
9.99% -26.13%
-15.71
1.13
21.45% -0.94%
2.0B
2.6B
4.22% 2.41%
-7.41
0.82
40.30% 32.53%
407.4M
699.4M
13.14% 41.70%
18.19
0.61
14.09% -35.77%
70.5M
208.7M
-3.61% -20.54%
-3.1
0.34
32.14% -1126.41%
64.7M
79.9M
-13.50% -48.57%
-20.91
0.79
-3.22% -225.01%
39.2M
333.2M
-29.35% -79.10%
-0.58
0.22
186.25% -162.63%

Financials for Warner Music Group

Income Statement (Last 12 Months)
(In Millions)
* denotes actual numbers (not divided by Millions)
Description(%) Q/Q2023Q12022Q42022Q32022Q22022Q1
Revenue0.4%5,8165,7935,9195,7985,706
  S&GA Expenses0.4%1,8131,8051,8621,8571,843
Costs and Expenses1.3%5,1595,0945,2055,1475,039
EBITDA-20.9%8531,079803872-
EBITDA Margin-19.2%0.15*0.18*0.14*0.15*-
Earnings Before Taxes-10.5%581649740605543
EBT Margin-10.4%0.11*0.13*0.10*0.10*-
Net Income-11.9%428486551431368
Net Income Margin-9.9%0.08*0.09*0.07*0.06*-
Free Cahsflow63.3%710435383--
Balance Sheet
(In Millions)
Description(%) Q/Q2023Q12022Q42022Q32022Q22022Q1
Assets-1.5%8,0108,1297,8287,6997,781
  Current Assets-5.5%2,2122,3402,1391,9011,912
    Cash Equivalents-16.5%601720584345385
  Inventory11.8%11410210893.0094.00
  Net PPE2.3%440430415403386
  Goodwill0.5%1,9601,9511,9201,9321,922
Liabilities-1.3%7,7447,8477,6607,5277,608
  Current Liabilities-4.6%3,1873,3413,3683,1233,131
  Long Term Debt-1.4%3,7323,7853,829--
    LT Debt, Non Current1.0%3,9863,9463,7323,7853,829
Shareholder's Equity-1.5%266270152156173
  Retained Earnings-3.4%-1,488-1,439-1,477-1,542-1,587
  Additional Paid-In Capital0.8%2,0001,9841,9751,9751,971
Accumulated Depreciation2.9%503489461462452
Minority Interest16.7%14.0012.0016.0016.0019.00
Cashflow (Last 12 Months)
(In Millions)
Description(%) Q/Q2023Q12022Q42022Q32022Q22022Q1
Cashflow From Operations-6.1%772822742564492
  Share Based Compensation-39.00----
Cashflow From Investing-7.6%-226-210-824-835-883
Cashflow From Financing3.6%-318-330188184188
  Dividend Payments1.5%329324318313296

Risks for WMG

What is the probability of a big loss on WMG?

45.5%


Probability that Warner Music Group stock will be more than 20% underwater in next one year

39.1%


Probability that Warner Music Group stock will be more than 30% underwater in next one year.

25%


Probability that Warner Music Group stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does WMG drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Warner Music Group was unfortunately bought at previous high price.

Drawdowns

Returns for WMG

Cumulative Returns on WMG

Which funds bought or sold WMG recently?

View All Details
Datesorted ascendingFund NameType% Chg$ Change$ Held% Portfolio
2023-05-22
AMERIPRISE FINANCIAL INC
new
-
14,522,700
14,522,700
-%
2023-05-18
JPMORGAN CHASE & CO
reduced
-12.22
-5,857,000
29,963,000
-%
2023-05-17
Advisory Services Network, LLC
unchanged
-
-78.00
1,749
-%
2023-05-16
JANE STREET GROUP, LLC
reduced
-96.41
-28,649,700
1,014,750
-%
2023-05-16
Hudson Bay Capital Management LP
new
-
1,668,500
1,668,500
0.01%
2023-05-16
Ancora Advisors, LLC
reduced
-16.67
-3,486
12,514
-%
2023-05-16
SUSQUEHANNA INTERNATIONAL GROUP, LLP
added
364
1,123,010
1,450,690
-%
2023-05-15
Broad Run Investment Management, LLC
unchanged
-
-273,242
5,526,100
0.66%
2023-05-15
GEODE CAPITAL MANAGEMENT, LLC
reduced
-3.96
-5,067,390
54,647,600
0.01%
2023-05-15
JANUS HENDERSON GROUP PLC
reduced
-18.45
-14,508,000
50,595,200
0.03%

1–10 of 43

Latest Funds Activity

Are funds buying WMG calls or puts?
Calls
Puts
Are funds bullish or bearish(Calls - Puts)?
Net Call Options
No. of funds that own WMG
No. of Funds

Warner Music Group News

RealMoney
Bearish Bets: 3 Stocks You Should Really Consider Shorting This ....
RealMoney,
5 hours ago
Music Business Worldwide
Music Business Worldwide
Music Business Worldwide
Who owns Warner Music Group today?.
Music Business Worldwide,
12 days ago

Schedule 13G FIlings of Warner Music Group

Date FiledName of FilerPercent of ClassNo. of SharesForm Type
Feb 14, 2023
caledonia (private) investments pty ltd
4.56%
6,258,678
SC 13G/A
Feb 14, 2023
melvin capital management lp
0%
0
SC 13G/A
Feb 14, 2023
sands capital management, llc
7.8%
10,674,369
SC 13G/A
Feb 09, 2023
fmr llc
-
0
SC 13G/A
Feb 09, 2023
vanguard group inc
7.60%
10,421,289
SC 13G/A
Jan 31, 2023
cooper stephen forbes
4.4%
6,141,401
SC 13G/A
Apr 04, 2022
cooper nancie
4.4%
5,926,399
SC 13G/A
Feb 14, 2022
sands capital management, llc
9.39%
11,553,443
SC 13G/A
Feb 14, 2022
darsana capital partners lp
2.2%
2,981,049
SC 13G/A
Feb 14, 2022
access industries holdings llc
73.2%
374,899,459
SC 13G/A

WMG Fair Value

Recent SEC filings of Warner Music Group

View All Filings
Date Filed Form Type Document
May 12, 2023
8-K
Current Report
May 10, 2023
8-K
Current Report
May 09, 2023
10-Q
Quarterly Report
May 09, 2023
8-K
Current Report
May 01, 2023
3
Insider Trading
Apr 27, 2023
8-K
Current Report
Mar 29, 2023
8-K
Current Report
Mar 23, 2023
8-K
Current Report
Mar 16, 2023
4
Insider Trading
Mar 16, 2023
3
Insider Trading

Latest Insider Trading transactions for WMG

Filter Transactions
Datesorted ascendingNameBuy/Sell$ ValueAvg. Price# SharesTitle
2023-02-28
Lynton Michael
acquired
255,005
31.56
8,080
-
2023-02-28
Dopfner Mathias
sold (taxes)
-45,762
31.56
-1,450
-
2023-02-28
Hertz Noreena
sold (taxes)
-45,762
31.56
-1,450
-
2023-02-28
Kurzman Cecelia
acquired
175,000
31.56
5,545
-
2023-02-28
Dopfner Mathias
acquired
175,000
31.56
5,545
-
2023-02-28
Kreiz Ynon
acquired
175,000
31.56
5,545
-
2023-02-28
Hertz Noreena
acquired
175,000
31.56
5,545
-
2023-02-28
Dubuc Nancy
acquired
175,000
31.56
5,545
-
2023-02-24
Benet Lincoln E
sold
-964,200
32.14
-30,000
-
2023-02-21
Benet Lincoln E
sold
-640,000
32.00
-20,000
-

1–10 of 50

Stephen F. Cooper
5900
Warner Music Group Corp. operates as a music entertainment company in the United States, the United Kingdom, Germany, and internationally. The company operates through Recorded Music and Music Publishing segments. The Recorded Music segment is involved in the discovery and development of recording artists, as well as related marketing, promotion, distribution, sale, and licensing of music created by such recording artists; markets its music catalog through compilations and reissuances of previously released music and video titles, as well as previously unreleased materials; and conducts its operation primarily through a collection of record labels, such as Warner Records and Atlantic Records, as well as Asylum, Big Beat, Canvasback, East West, Erato, FFRR, Fueled by Ramen, Nonesuch, Parlophone, Reprise, Roadrunner, Sire, Spinnin' Records, Warner Classics, and Warner Music Nashville. This segment markets, distributes, and sells music and video products to retailers and wholesale distributors; independent labels to retail and wholesale distributors; and various distribution centers and ventures, as well as retail outlets, online physical retailers, streaming services, and download services. The Music Publishing segment owns and acquires rights to approximately one million musical compositions comprising pop hits, American standards, folk songs, and motion picture and theatrical compositions. Its catalog includes approximately 100,000 songwriters and composers; and various genres, including pop, rock, jazz, classical, country, R&B, hip-hop, rap, reggae, Latin, folk, blues, symphonic, soul, Broadway, electronic, alternative, and gospel. This segment also administers the music and soundtracks of various third-party television and film producers and studios. The company was founded in 1929 and is headquartered in New York, New York.

WMG Income Statement

2023-03-31
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Millions
3 Months Ended6 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Mar. 31, 2023
Mar. 31, 2022
Revenue$ 1,399$ 1,376$ 2,887$ 2,990
Costs and expenses:    
Cost of revenue(721)(697)(1,482)(1,515)
Selling, general and administrative expenses[1](452)(444)(892)(941)
Restructuring(41)0(41)0
Amortization expense(61)(69)(124)(129)
Total costs and expenses(1,275)(1,210)(2,539)(2,585)
Net gain on divestiture00410
Operating income124166389405
Interest expense, net(35)(32)(67)(62)
Other (expense) income(31)(8)(92)46
Income before income taxes58126230389
Income tax expense(21)(34)(69)(109)
Net income3792161280
Less: Income attributable to noncontrolling interest(3)0(5)(1)
Net income attributable to Warner Music Group Corp.3492156279
Class A Common Stock    
Costs and expenses:    
Net income attributable to Warner Music Group Corp.$ 10$ 25$ 43$ 73
Net income per share attributable to common stockholders:    
Basic (in dollars per share)$ 0.06$ 0.18$ 0.30$ 0.53
Diluted (in dollars per share)$ 0.06$ 0.18$ 0.30$ 0.53
Weighted average common shares:    
Basic (in shares)138,257,000136,349,000137,841,000130,159,000
Diluted (in shares)138,257,000136,349,000137,841,000130,159,000
Class B Common Stock    
Costs and expenses:    
Net income attributable to Warner Music Group Corp.$ 24$ 67$ 113$ 206
Net income per share attributable to common stockholders:    
Basic (in dollars per share)$ 0.06$ 0.18$ 0.30$ 0.53
Diluted (in dollars per share)$ 0.06$ 0.18$ 0.30$ 0.53
Weighted average common shares:    
Basic (in shares)377,650,000378,432,000377,650,000384,442,000
Diluted (in shares)377,650,000378,432,000377,650,000384,442,000
[1]Includes depreciation expense of $(22) and $(20) for the three months ended March 31, 2023 and March 31, 2022, respectively, and $(43) and $(41) for the six months ended March 31, 2023 and March 31, 2022, respectively.

WMG Balance Sheet

2023-03-31
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2023
Sep. 30, 2022
Current assets:  
Cash and equivalents$ 601$ 584
Accounts receivable, net of allowances of $19 million and $19 million1,017984
Inventories114108
Royalty advances expected to be recouped within one year371372
Prepaid and other current assets10991
Total current assets2,2122,139
Royalty advances expected to be recouped after one year557503
Property, plant and equipment, net of accumulated depreciation of $503 million and $461 million440415
Operating lease right-of-use assets, net233226
Goodwill1,9601,920
Intangible assets subject to amortization, net2,2322,239
Intangible assets not subject to amortization150145
Deferred tax assets, net2829
Other assets198212
Total assets8,0107,828
Current liabilities:  
Accounts payable282268
Accrued royalties2,0571,918
Accrued liabilities411457
Accrued interest1717
Operating lease liabilities, current4140
Deferred revenue311423
Other current liabilities68245
Total current liabilities3,1873,368
Long-term debt3,9863,732
Operating lease liabilities, noncurrent247241
Deferred tax liabilities, net220220
Other noncurrent liabilities10499
Total liabilities7,7447,660
Equity:  
Additional paid-in capital2,0001,975
Accumulated deficit(1,488)(1,477)
Accumulated other comprehensive loss, net(261)(347)
Total Warner Music Group Corp. equity252152
Noncontrolling interest1416
Total equity266168
Total liabilities and equity8,0107,828
Class A Common Stock  
Equity:  
Common stock00
Class B Common Stock  
Equity:  
Common stock$ 1$ 1