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Data-driven stock valuation

Warner Bros Discovery Inc (WBD) fair value: what the stock is really worth

As of Oct 7, 2026: fair value (intrinsic value) of Warner Bros Discovery Inc stock $0.82, price $1.89, upside -56.7%, quality 45 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Communication Services · US

WB Warner Bros Discovery Inc logo Thin data Oct 22, 2026

Warner Bros Discovery Inc

WBD · US

Weakest SetupStrongly overvalued and low quality.

No longer trading: delisted on Oct 7, 2026. Price and fair value are the last state before the listing ended, not a current valuation.

Our calculation puts a fair price 57% below what the stock costs today.

Generates free cash flow
Quality 45/100
Mixed Growth (revenue 5y +28.4 %/yr in USD)
Loss over the last twelve months · -8.8% net margin (TTM) · fiscal year 2025 1.9%
Moderate debt
Fair value $0.8200 · Strongly overvalued (−56.7%)
Trails peers (1/9)
Narrow moat 23/100 · thin data
Insider activity 30/100
Thin data
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$31.18 $1.89 Fair Value $0.8200 Jul 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 22, 2026.

How to read this chart

60‑month range $1.89 – $31.18 · fair‑value band $0.5900 – $1.07 · the $1.89 price screens above the $0.8200 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Oct 22, 2026.

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Company profile

Warner Bros. Discovery, Inc. operates as a media and entertainment company worldwide. It operates through three segments: Streaming, Studios, and Global Linear Networks.

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The Streaming segment offers streaming services, such as HBO Max and discovery+, and premium pay-TV services, including HBO and certain premium sports streaming products for mobile and connected TV devices.

The Studios segment is involved in the production and release of feature films for initial exhibition in theaters, production and initial licensing of television programs to third parties and its networks/streaming services.

This segment also distributes films and television programs to various third-party and internal television, streaming services, and physical and digital home entertainment markets; related consumer products and themed experience licensing; and publishes, develops, licenses, and distributes content for the interactive space in platforms, including console, handheld, mobile, and PC-based gaming for both internal and third-party game titles.

The Global Linear Networks segment provides general and lifestyle entertainment networks, news networks; and hosts international media networks and global sports networks.

In addition, the company offers a portfolio of content and products for television, film, streaming, interactive gaming, publishing, themed experiences, and consumer products under the Discovery Channel, HBO Max, CNN, DC Studios, TNT Sports, HBO, Food Network, TLC, TBS, Warner Bros.

Motion Picture Group, Warner Bros. Television Group, Warner Bros. Games, Adult Swim, Turner Classic Movies, and other brands. Warner Bros. Discovery, Inc. was incorporated in 2008 and is headquartered in New York, New York.

Stock analysis

Warner Bros Discovery Inc (WBD) currently trades at $1.89, while our model-based Fair Value estimate is $0.8200, 56.7% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of $0.9000 per share, and 2 of the 18 models we run sit above the $1.89 price.

Bear case: the Multiples group reads lowest at $0.3900, and 16 of the 18 models stay below the price. Data coverage for this calculation is low.

Scenario range: $0.5900 (bear) to $1.07 (bull), the price of $1.89 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 45/100 (below-average quality), in the Communication Services sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Warner Bros Discovery Inc reported revenue of $37.3B in FY2025 versus $12.2B in FY2021, a compound +32.3%/yr. Reported net income was $727M in FY2025, compounding −7.8%/yr from FY2021.

Key figures

Market cap $77.6B · P/S ratio 2.15 · EPS (TTM) $−1.28 · Net margin −8.8% · Return on equity −8.8% · Return on assets (EBIT) −1.8% · Operating margin 5.1% · Revenue (TTM) $36.1B.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 23 out of 100 (low confidence).

What moves the price

The share trades about 94% below its 52-week high and at its 52-week low.

For context, the median of 10 Communication Services peers we cover trades at −9% fair-value upside, at −57%, WBD screens richer than that median.

Fair Value models

Bear $0.5900 Fair Value $0.8200 Bull $1.07
Price $1.89 · Upside -56.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
Growth DCF $0.6800 $1.73 $3.41 71
FCF DCF $0.7700 $1.47 $3.59 70
Residual Income $0.5900 $0.5500 $0.5400 68
All 18 models by family
DCF Models
FCF DCF $0.7700 $1.47 $3.59 70
Owner Earnings $0.3100 $1.41 $3.52 64
5Y Revenue Exit n/a $0.2900 $0.9100 67
5Y EBITDA Exit $0.8500 $2.04 $4.36 67
5Y P/E Exit n/a $0.4600 $1.07 65
10Y Revenue Exit $0.2300 $0.9000 $1.20 63
10Y EBITDA Exit $0.8400 $2.64 $5.77 60
10Y P/E Exit $0.2400 $0.8700 $1.80 56
Earnings-Based
Graham-Dodd $0.1200 $0.8400 $1.18 61
Lynch FV $0.4300 $0.6200 $0.8100 59
PEG = 1.0 $0.4300 $0.6200 $0.8100 55
Multiples
P/E Multiple $0.2900 $0.3900 $0.4900 63
P/S Multiple $0.2300 $0.3000 $0.3800 58
EV/EBITDA $0.8500 $1.36 $1.87 66
Growth DCF
Growth DCF $0.6800 $1.73 $3.41 71
Rev-Margin DCF $0.0500 $0.4300 $1.26 60
Economic Profit
Residual Income $0.5900 $0.5500 $0.5400 68
Growth Earnings
Growth-Adj P/E $0.5800 $0.8200 $1.07 65

Open the full fair value analysis →

Quality Score breakdown

Overall quality 45/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 20
How much profit the company makes from its sales and capital
Quality Growth 31
Are margins and returns getting better?
Cashflow 63
Do the profits arrive as real cash?
Financial strength 24
Debt, balance sheet and risk of trouble
Investment 98
Does it invest with discipline instead of growing at any price?
Low Volatility 10
How calm the share price moves, does not count
Momentum 12
Price trend of the last 3 to 12 months, does not count
Near the 52-week high 0
Distance to the 52-week high, does not count
New shares 63
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 76/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−5.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+28.4%
Start year 2020 (pandemic). Over 10 years: +19.3% a year
Revenue growth 25 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+21.3%
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−30.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−30.7%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−30.7% vs −16.1%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.24% → 4%
Pace: the 5-year rate starts in 2020 (pandemic)

WBD screens overvalued: fair value 57% below the price. Compare with Netflix, Inc →

Earlier news

News mood ⓘNews mood, the average tone of recent news (96 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation. Very negative
Recent news coverage is unusually downbeat.

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Entertainment · 227 stocks

Beats the industry median on 1/8 measures
Overall it trails its industry peers.
Valuation
Quality Score 45 · Below median
Fair Value upside −56.7% · Bottom 25%
Profitability
Return on assets 0.7% · Below median
Net margin (12 months) −8.8% · Below median
Operating margin (12 months) 5.1% · Above median
Growth and dividend
Revenue growth (quarter YoY) −11.2% · Bottom 25%
Balance sheet
Debt / equity 0.90× · Highest 25%

Valuation Multiplesvs Entertainment median · lower = cheaper

PEG 55.18× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 33
FUTURE (revenue growth)0 · sector 30
PAST (return on equity)0 · sector 7
HEALTH (low debt)55 · sector 96
DIVIDEND (yield)0 · sector 46

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Entertainment stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Netflix, Inc NFLX $69.85 $76.84 +10% vs WBD
Universal Music Group UMG €16.21 €17.83 +10% vs WBD
Formula One Group FWONK $91.27 $100.40 +10% vs WBD
Fox Corporation FOX $60.82 $65.92 +8% vs WBD
The Walt Disney Company DIS $111.67 $101.07 −9% vs WBD
News Corporation NWS $33.28 $17.05 −49% vs WBD
Roku, Inc ROKU $157.78 $71.66 −55% vs WBD
TKO Group TKO $177.94 $69.66 −61% vs WBD
Warner Music Group WMG $28.72 $10.85 −62% vs WBD
Live Nation Entertainment, Inc LYV $174.34 $48.10 −72% vs WBD

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Warner Bros Discovery Inc · Fair Value
$0.8200 −57%Fair Value
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Cite: Fair Value Calculator (2026). "Warner Bros Discovery Inc Fair Value". https://www.fairvalue-calculator.com/stock/WBD.US

Frequently asked questions

Is Warner Bros Discovery Inc (WBD) overvalued or undervalued?
As of Oct 22, 2026, our model estimates a fair value of $0.8200 versus the last price from Oct 7, 2026 of $1.89, about −57% upside (overvalued).
What is the fair value of WBD?
Our model-based fair value for Warner Bros Discovery Inc is $0.8200 (as of Oct 22, 2026), built from audited fundamentals. Last price (from Oct 7, 2026): $1.89.
What is the quality score of WBD?
Warner Bros Discovery Inc has a Quality Score of 45/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Warner Bros Discovery Inc (WBD)?
Our model-based price target is the fair value of $0.8200 (as of Oct 22, 2026) from 18 valuation models. Cautious scenario $0.5900, optimistic scenario $1.07. It is a calculation from audited fundamentals, not an analyst target.
What is the Warner Bros Discovery Inc stock forecast for 2026?
Our models put fair value at $0.8200, about −57% upside versus the last price from Oct 7, 2026 of $1.89 (overvalued). Cautious scenario $0.5900, optimistic scenario $1.07. The calculation is refreshed regularly with new filings.
What is the revenue of Warner Bros Discovery Inc (WBD)?
Warner Bros Discovery Inc reported trailing-twelve-month revenue of about $36.1B (latest available figure, as of Oct 22, 2026).
What is the intrinsic value of Warner Bros Discovery Inc (WBD)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Warner Bros Discovery Inc it is $0.8200 per share (as of Oct 22, 2026), against a price of $1.89. It is the blended result of 18 valuation models (cash flow, earnings, asset, dividend).
Is Warner Bros Discovery Inc stock overvalued or undervalued in 2026?
As of Oct 22, 2026, WBD trades above its calculated fair value: price $1.89, fair value $0.8200, a gap of about −57% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of WBD?
No. The price is what the market pays today ($1.89); the fair value is what the company's own numbers justify ($0.8200). For Warner Bros Discovery Inc the two are $1.07 per share apart. That gap is exactly why we show both numbers side by side.
How much is Warner Bros Discovery Inc worth?
The market values Warner Bros Discovery Inc at about $77.6B (market capitalisation, as of Oct 22, 2026). Per share that is $1.89; our models calculate a fair value of $0.8200 per share.
What do the bullish and bearish scenarios say about WBD?
Our models span a range for Warner Bros Discovery Inc: cautious scenario $0.5900, base $0.8200, optimistic $1.07 per share (as of Oct 22, 2026, price $1.89). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of WBD?
The PEG ratio of Warner Bros Discovery Inc is 55.18 (P/E divided by earnings growth, as of Oct 22, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Warner Bros Discovery Inc (WBD)?
Balance-sheet figures for Warner Bros Discovery Inc (as of Oct 22, 2026): return on equity −8.8%, debt of 0.90 per unit of equity. They feed the Quality Score of 45/100, which measures business quality independently of the share price.
How far is WBD from its 52-week high?
Warner Bros Discovery Inc trades at $1.89, about 94% below its 52-week high of $30.90 and at the low of $1.89 (as of Oct 7, 2026). Distance from the high says nothing about value: that is what the fair value of $0.8200 is for.
Which stocks are comparable to Warner Bros Discovery Inc?
From the same area (Communication Services) we also value Netflix, Inc, The Walt Disney Company, Live Nation Entertainment, Inc, TKO Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Warner Bros Discovery Inc stock attractive at the current price?
The data as of Oct 22, 2026: price $1.89, calculated fair value $0.8200 (−57%), Quality Score 45/100, from 18 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of WBD calculated?
We run Warner Bros Discovery Inc through 18 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $0.8200, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.2 % above its aggregate fair value. Warner Bros Discovery Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Warner Bros Discovery Inc (WBD)?
The latest price we hold is from Oct 7, 2026 and stands at $1.89. Our model-based fair value is $0.8200, about −57% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Warner Bros Discovery Inc right now?
The price sits above even our optimistic bull case ($1.07). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (45/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range ($0.5900 to $1.07) leaves room in how you read the outcome.

Key figures of Warner Bros Discovery Inc

How large is the market capitalisation of Warner Bros Discovery Inc (WBD)?
The market capitalisation of Warner Bros Discovery Inc is $77.6B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Warner Bros Discovery Inc (WBD)?
The price-to-sales ratio of Warner Bros Discovery Inc is 2.15 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Warner Bros Discovery Inc (WBD)?
Earnings per share at Warner Bros Discovery Inc are $−1.28. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Warner Bros Discovery Inc (WBD)?
The net margin of Warner Bros Discovery Inc is −8.8% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Warner Bros Discovery Inc (WBD)?
The return on equity (ROE) of Warner Bros Discovery Inc is −8.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Warner Bros Discovery Inc (WBD)?
On an EBIT basis the return on assets of Warner Bros Discovery Inc is −1.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Warner Bros Discovery Inc (WBD)?
The operating margin of Warner Bros Discovery Inc is 5.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Warner Bros Discovery Inc (WBD)?
Revenue at Warner Bros Discovery Inc is growing −11.2% versus a year earlier (3y avg +3.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Warner Bros Discovery Inc (WBD)?
Earnings per share at Warner Bros Discovery Inc are growing −90.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Warner Bros Discovery Inc (WBD) generate?
The free cash flow of Warner Bros Discovery Inc is $3.1B (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Warner Bros Discovery Inc (WBD) carry?
The net debt of Warner Bros Discovery Inc is $28.0B (fiscal year 2025, ≈ 9.1 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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