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
WMG Fundamentals
WMG Revenue
WMG Earnings
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
WMG Investor Care
Peers (Alternatives to Warner Music Group)
View All Peers In Detail| Name | Mkt Capsorted ascending | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|
| LARGE-CAP | ||||||||
NFLX | 168.4B | 31.9B | 17.98% | 97.95% | 40.11 | 5.28 | 4.96% | -16.12% |
DIS | 161.1B | 87.0B | -8.61% | -16.40% | 39.1 | 1.85 | 13.52% | 55.45% |
LYV | 19.0B | 18.0B | 25.57% | -11.56% | 55.39 | 1.06 | 131.42% | 187.08% |
| MID-CAP | ||||||||
WWE | 7.8B | 1.3B | -5.51% | 51.46% | 40.09 | 6.07 | 7.77% | -16.73% |
AMC | 5.4B | 4.1B | -10.60% | -62.06% | -5.52 | 1.37 | 28.90% | 16.15% |
MSGS | 4.3B | - | -10.28% | 13.67% | 50.82 | 5.31 | 97.57% | 14.51% |
TRIP | 2.0B | 1.6B | -11.45% | -39.17% | -104.15 | 1.24 | 53.79% | 81.37% |
| SMALL-CAP | ||||||||
MSGE | 2.1B | 1.9B | 9.99% | -26.13% | -15.71 | 1.13 | 21.45% | -0.94% |
CNK | 2.0B | 2.6B | 4.22% | 2.41% | -7.41 | 0.82 | 40.30% | 32.53% |
SCPL | 407.4M | 699.4M | 13.14% | 41.70% | 18.19 | 0.61 | 14.09% | -35.77% |
RDI | 70.5M | 208.7M | -3.61% | -20.54% | -3.1 | 0.34 | 32.14% | -1126.41% |
GAIA | 64.7M | 79.9M | -13.50% | -48.57% | -20.91 | 0.79 | -3.22% | -225.01% |
CSSE | 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) | |||||
|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 |
| Revenue | 0.4% | 5,816 | 5,793 | 5,919 | 5,798 | 5,706 |
| S&GA Expenses | 0.4% | 1,813 | 1,805 | 1,862 | 1,857 | 1,843 |
| Costs and Expenses | 1.3% | 5,159 | 5,094 | 5,205 | 5,147 | 5,039 |
| EBITDA | -20.9% | 853 | 1,079 | 803 | 872 | - |
| EBITDA Margin | -19.2% | 0.15* | 0.18* | 0.14* | 0.15* | - |
| Earnings Before Taxes | -10.5% | 581 | 649 | 740 | 605 | 543 |
| EBT Margin | -10.4% | 0.11* | 0.13* | 0.10* | 0.10* | - |
| Net Income | -11.9% | 428 | 486 | 551 | 431 | 368 |
| Net Income Margin | -9.9% | 0.08* | 0.09* | 0.07* | 0.06* | - |
| Free Cahsflow | 63.3% | 710 | 435 | 383 | - | - |
| Balance Sheet | (In Millions) | |||||
|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 |
| Assets | -1.5% | 8,010 | 8,129 | 7,828 | 7,699 | 7,781 |
| Current Assets | -5.5% | 2,212 | 2,340 | 2,139 | 1,901 | 1,912 |
| Cash Equivalents | -16.5% | 601 | 720 | 584 | 345 | 385 |
| Inventory | 11.8% | 114 | 102 | 108 | 93.00 | 94.00 |
| Net PPE | 2.3% | 440 | 430 | 415 | 403 | 386 |
| Goodwill | 0.5% | 1,960 | 1,951 | 1,920 | 1,932 | 1,922 |
| Liabilities | -1.3% | 7,744 | 7,847 | 7,660 | 7,527 | 7,608 |
| Current Liabilities | -4.6% | 3,187 | 3,341 | 3,368 | 3,123 | 3,131 |
| Long Term Debt | -1.4% | 3,732 | 3,785 | 3,829 | - | - |
| LT Debt, Non Current | 1.0% | 3,986 | 3,946 | 3,732 | 3,785 | 3,829 |
| Shareholder's Equity | -1.5% | 266 | 270 | 152 | 156 | 173 |
| Retained Earnings | -3.4% | -1,488 | -1,439 | -1,477 | -1,542 | -1,587 |
| Additional Paid-In Capital | 0.8% | 2,000 | 1,984 | 1,975 | 1,975 | 1,971 |
| Accumulated Depreciation | 2.9% | 503 | 489 | 461 | 462 | 452 |
| Minority Interest | 16.7% | 14.00 | 12.00 | 16.00 | 16.00 | 19.00 |
| Cashflow (Last 12 Months) | (In Millions) | |||||
|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 |
| Cashflow From Operations | -6.1% | 772 | 822 | 742 | 564 | 492 |
| Share Based Compensation | - | 39.00 | - | - | - | - |
| Cashflow From Investing | -7.6% | -226 | -210 | -824 | -835 | -883 |
| Cashflow From Financing | 3.6% | -318 | -330 | 188 | 184 | 188 |
| Dividend Payments | 1.5% | 329 | 324 | 318 | 313 | 296 |
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 ascending | Fund Name | Type | % 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% |
Latest Funds Activity
Calls
Puts
Net Call Options
No. of Funds
WMG Alerts
Warner Music Group News
Schedule 13G FIlings of Warner Music Group
| Date Filed | Name of Filer | Percent of Class | No. of Shares | Form 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 ascending | Name | Buy/Sell | $ Value | Avg. Price | # Shares | Title |
|---|---|---|---|---|---|---|
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 | - |
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
2023-03-31Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Millions | 3 Months Ended | 6 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 divestiture | 0 | 0 | 41 | 0 | ||
| Operating income | 124 | 166 | 389 | 405 | ||
| Interest expense, net | (35) | (32) | (67) | (62) | ||
| Other (expense) income | (31) | (8) | (92) | 46 | ||
| Income before income taxes | 58 | 126 | 230 | 389 | ||
| Income tax expense | (21) | (34) | (69) | (109) | ||
| Net income | 37 | 92 | 161 | 280 | ||
| Less: Income attributable to noncontrolling interest | (3) | 0 | (5) | (1) | ||
| Net income attributable to Warner Music Group Corp. | 34 | 92 | 156 | 279 | ||
| 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) | 138,257,000 | 136,349,000 | 137,841,000 | 130,159,000 | ||
| Diluted (in shares) | 138,257,000 | 136,349,000 | 137,841,000 | 130,159,000 | ||
| 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) | 377,650,000 | 378,432,000 | 377,650,000 | 384,442,000 | ||
| Diluted (in shares) | 377,650,000 | 378,432,000 | 377,650,000 | 384,442,000 | ||
| ||||||
WMG Balance Sheet
2023-03-31Condensed 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 million | 1,017 | 984 |
| Inventories | 114 | 108 |
| Royalty advances expected to be recouped within one year | 371 | 372 |
| Prepaid and other current assets | 109 | 91 |
| Total current assets | 2,212 | 2,139 |
| Royalty advances expected to be recouped after one year | 557 | 503 |
| Property, plant and equipment, net of accumulated depreciation of $503 million and $461 million | 440 | 415 |
| Operating lease right-of-use assets, net | 233 | 226 |
| Goodwill | 1,960 | 1,920 |
| Intangible assets subject to amortization, net | 2,232 | 2,239 |
| Intangible assets not subject to amortization | 150 | 145 |
| Deferred tax assets, net | 28 | 29 |
| Other assets | 198 | 212 |
| Total assets | 8,010 | 7,828 |
| Current liabilities: | ||
| Accounts payable | 282 | 268 |
| Accrued royalties | 2,057 | 1,918 |
| Accrued liabilities | 411 | 457 |
| Accrued interest | 17 | 17 |
| Operating lease liabilities, current | 41 | 40 |
| Deferred revenue | 311 | 423 |
| Other current liabilities | 68 | 245 |
| Total current liabilities | 3,187 | 3,368 |
| Long-term debt | 3,986 | 3,732 |
| Operating lease liabilities, noncurrent | 247 | 241 |
| Deferred tax liabilities, net | 220 | 220 |
| Other noncurrent liabilities | 104 | 99 |
| Total liabilities | 7,744 | 7,660 |
| Equity: | ||
| Additional paid-in capital | 2,000 | 1,975 |
| Accumulated deficit | (1,488) | (1,477) |
| Accumulated other comprehensive loss, net | (261) | (347) |
| Total Warner Music Group Corp. equity | 252 | 152 |
| Noncontrolling interest | 14 | 16 |
| Total equity | 266 | 168 |
| Total liabilities and equity | 8,010 | 7,828 |
| Class A Common Stock | ||
| Equity: | ||
| Common stock | 0 | 0 |
| Class B Common Stock | ||
| Equity: | ||
| Common stock | $ 1 | $ 1 |