Warner Music Group Corp. (WMG)
Communication Services · Music publishing and recorded music · NASDAQ
Warner Music Group is one of the world's leading music entertainment companies, managing a massive catalog of recorded music and musical compositions while investing in the next generation of global artists.
What Warner Music Group Corp. does
Warner Music Group is a global music company that operates through two primary segments: recorded music and music publishing. It discovers and develops recording artists and songwriters, manages the licensing and distribution of music recordings, and administers the rights to musical compositions across various media platforms.
Themes: recorded music production and distribution, music publishing and songwriting rights, music streaming and digital entertainment, artist development and talent management
Fundamentals
- Price$31.44 as of 2026-10-21 close
- Market cap$16.4B as of 2026-07-31 (share count; price 2026-10-21)
- 1-year return-6.0% 2025-10-21 close $33.44 → 2026-10-21 close $31.44
- P/E25.15 as of 2026-10-21; diluted EPS of the listed share class, as reported in the 10-Q/10-K
- Net margin+5.4% FY2025, SEC XBRL
- ROE+56.4% FY2025, SEC XBRL
- ROIC+13.1% NOPAT / (debt + equity - cash), average capital — 10-K FY2025 (year ended 2025-09-30)
- Debt / equity5.52 borrowings, leases excluded / equity — 10-Q/10-K balance sheet 2026-06-30
- Revenue growth (YoY)+4.4% FY2025, SEC XBRL
- Revenue CAGR (3y)+4.3% SEC XBRL
- Beta0.52 as of 2026-09-02
- Last reported earnings2026-08-05 SEC EDGAR Form 8-K (Item 2.02)
Dividend: yield +2.9%; at least 5 years of non-decreasing per-share dividends (SEC XBRL) — we do not hold the year before it, so the real streak may be longer.
How WMG compares in its sector
- price-to-earnings ratiomiddle range 61 covered Communication Services peers, as of 2026-10-21
- net profit marginmiddle range 128 covered Communication Services peers, as of 2026-09-02
- operating marginmiddle range 124 covered Communication Services peers, as of 2026-09-02
- return on equitytop 10% 114 covered Communication Services peers, as of 2026-09-02
- 3-year revenue CAGRmiddle range 123 covered Communication Services peers
- indicated dividend yieldmiddle range 42 covered Communication Services peers, as of 2026-09-02
- free cash flow (absolute dollars, latest fiscal year)top 25% 117 covered Communication Services peers, as of FY2025
Position among covered Communication Services companies that report each metric (minimum 5 peers). A relative position within our covered catalog — not a valuation, quality, or investment judgment. A higher percentile is simply a higher value (for P/E, more expensive on earnings — never "better"). Informational only.
Top 10 scores & list membership
WMG is not currently in any published Top 10 list. Its scores are below.
Top 10 score
45.4 #895 of 1,265 scored · #34 of 48 in Communication Services
Profitability 71st (return on equity 56.4%, operating margin 10.3%) and capital return 60th (consecutive years of dividend increases 5 years); weakest is financial health (22nd, debt to equity 5.5, free cash flow margin 8%).
Scores as of 21 Oct 2026. Each bar is a percentile: how this company ranked against every company the score ranked, 0–100. A list is a published formula and its output, not a recommendation. Method version 4.
Dividend coverage (FY2025)
Exceeded at least one reported measure. In FY2025, WMG's dividend exceeded at least one reported measure of what it earned or generated (earnings payout 105%, free-cash-flow payout 71%). A payout above 100% in one year is not necessarily unsustainable, but it is not fully covered by that measure.
- Earnings payout105% dividends / net income
- Free-cash-flow payout71% dividends / (operating cash flow − capex)
Coverage derived from reported SEC EDGAR XBRL figures for FY2025 (dividends paid vs. net income and free cash flow, same fiscal year). This describes PAST coverage for one fiscal year — it does not predict whether a dividend will be maintained, raised, or cut, and a one-year payout ratio can be distorted by non-recurring items. Informational only — not financial advice.
Quarterly results
| Quarter | Revenue | Operating income | Net income | Operating cash flow |
|---|---|---|---|---|
| Q3 FY2026 2026-06-30 | $1.9B | $305M | $204M | $142M† |
| Q2 FY2026 2026-03-31 | $1.7B | $264M | $183M | $126M† |
| Q1 FY2026 2025-12-31 | $1.8B | $288M | $176M | $440M |
| Q4 FY2025 2025-09-30 | $1.9B† | $143M† | $109M† | $231M† |
| Q3 FY2025 2025-06-30 | $1.7B | $169M | -$16M | $46M† |
| Q2 FY2025 2025-03-31 | $1.5B | $168M | $36M | $69M† |
| Q1 FY2025 2024-12-31 | $1.7B | $214M | $236M | $332M |
| Q4 FY2024 2024-09-30 | $1.6B† | $143M† | $41M† | $304M† |
† Not filed as a discrete quarter: derived from the company's own year-to-date figures (for example the fourth quarter as the fiscal year minus the first nine months). A derived per-share figure is approximate, because the share count moves within the year.
Balance sheet at 2026-06-30
- Cash and equivalents$618M
- Total debt$4.7B borrowings only; leases excluded
- Net debt$4.1B total debt − cash − short-term investments
From the company's own SEC 10-Q and 10-K filings (XBRL), re-read every week. Figures in US dollars as filed; informational only — not financial advice.
How Warner Music Group Corp. looks technically
Warner Music Group Corp. (WMG) is trading 10.0% above its 200-day average, the long-term trend line — a longer-term uptrend. Its 50-day average crossed below its 200-day average about 57 trading days ago — a "death cross", a bearish long-term signal. A strong uptrend is in place — ADX, a 0–100 trend-strength gauge, is 26, with buyers in control. Momentum is stretched — its 14-day RSI (a 0–100 momentum gauge) is 73, in overbought territory (above 70). It just made a new 20-day high, its first since 2026-05-29, pushing above its recent trading range.
Trend
9
| Distance from the 200-day | it is trading 10.0% above its 200-day average, the long-term trend line — a longer-term uptrend | +10.0% |
|---|---|---|
| 50-day moving average | its average price over the last 50 trading days — a short-term trend line — is $28.08 | $28.08 |
| 200-day moving average | its average price over the last 200 trading days — the long-term trend line — is $28.59 | $28.59 |
| Swing structure | each recent peak has been lower than the one before it and each dip deeper — the pattern chart-watchers call a downtrend, which describes where price has already been and not where it goes next | lower highs and lower lows |
| Last swing turn | its last significant turn was a swing low 23 calendar days ago — the swings before that are what the structure reading is measured on | 23 sessions |
| Wave structure | its recent swings can be read as a completed three-part downward correction — a pullback in the A-B-C shape Elliott-wave chartists use; the labelling fails if price closes below 26.45. It is the only labelling that fits, though not with textbook proportions, and it describes the swings already printed, not what comes next. | possible three-wave downward correction, complete (atypical proportions) |
| Since the 50/200 cross | its 50-day average crossed below its 200-day average about 57 trading days ago — a "death cross", a bearish long-term signal | 57 sessions |
| Above the 200-day after a dip | it recently dipped to its 200-day average (the long-term trend line) and has since climbed back above it — now about 10.0% above | +10.0% |
| Trend strength (14-day ADX) | a strong uptrend is in place — ADX, a 0–100 trend-strength gauge, is 26, with buyers in control | 25.8 |
Momentum
3
| 14-day RSI | momentum is stretched — its 14-day RSI (a 0–100 momentum gauge) is 73, in overbought territory (above 70) | 72.9 |
|---|---|---|
| Position in its 14-day range | it is trading right at the top of its 14-day range ($26.70 to $31.68) — its "stochastic" reading is 95 out of 100, where 0 would mean closing exactly at the 14-session low and 100 exactly at the high. This measures WHERE the price sits inside its recent range, which is a different question from the RSI beside it: RSI is a momentum gauge, measuring how FAST the price has been moving, so a stock can drift quietly to the bottom of its range with an ordinary RSI, or fall sharply and still sit in the middle. It has been climbing within that range over the last few sessions. | 95.2 |
| Since the MACD crossed zero | MACD, a trend-momentum gauge, is in positive territory (momentum leaning bullish) | 11 sessions |
Range
12
| 52-week high | its highest closing price over the past year (about 252 trading days) was $35.42 | $35.42 |
|---|---|---|
| From the 52-week high | it is 11.2% below its 52-week high (its highest price of the past year) | -11.2% |
| Above the 52-week low | it is 34.7% above its 52-week low (its lowest price of the past year) | +34.7% |
| Below the 52-week high | it is 11.2% below its highest point of the past year | 11.2% |
| Since a 20-day breakout | it just made a new 20-day high, its first since 2026-05-29, pushing above its recent trading range | 1 session |
| Since a 55-day breakout | it just made a new 55-day high, its first since 2026-05-29, pushing above its recent trading range | 1 session |
| All-time high | its highest closing price on record is $50.23 (set on 2021-10-28) | $50.23 |
| Given back of the 52-week move | over the past year its closes ranged ($23.65 to $34.72), and it has given back roughly a quarter of its rise from last year’s low — 30% of it. Chart-watchers call 61.8%-65% given back the "golden pocket" — for this company that is $27.52 to $27.88. It is watched widely enough that orders cluster there, which is the honest reason it matters; it is not a forecast. | 29.6% |
| From the all-time high | it is 37.4% below its all-time high | -37.4% |
| Nearest price level | it is sitting right on a support level at $31.40 — a price it turned at six times since 2024-10-31, most recently on 2026-02-10. Since 2024-10-21 it has 7 such levels below the current price and 4 above. Levels like these describe where the price has reversed or paused before; they are not a forecast of where it will go. | -0.1% |
| All-time low | its lowest closing price on record is $21.57 (set on 2022-10-11) | $21.57 |
| Above the all-time low | it is 45.8% above its all-time low | +45.8% |
Volatility
5
| Band width vs its own 6 months | day-to-day price swings are wider than usual versus its own recent 6-month history (wider than about 73% of it) | 73rd percentile |
|---|---|---|
| Typical daily range | in a typical session it travels about $0.8502 between its high and its low — about 2.7% of its price. That is its "average true range" over the last 14 sessions, which also counts the distance from the previous close, so a day that opens well away from yesterday counts as the large move it was | $0.8502 |
| Bollinger bands (20-day, ±2σ) | most of its recent trading has stayed between about $25.56 and $31.85 — the "Bollinger bands", a range drawn two standard deviations either side of its 20-day average price, which widens when the stock gets more volatile and narrows when it settles | $25.56 – $28.70 – $31.85 |
| Typical daily range (% of price) | its price moves about 2.7% in a typical session — calmer than most companies we cover. This is the average gap between a session's high and low over the last 14 sessions, counting overnight moves, expressed against the current price so it can be compared with companies trading at any price | 2.7% |
| Stretch from the 200-day average | it is trading 3.4 daily ranges above its 200-day average price (10.0% above it in plain percentage terms) — a way of asking how far it has stretched from its own average in units of how far it normally moves in a day, so a calm company and a jumpy one can be compared on the same scale | 3.4 daily ranges above its 200-day average |
Volume
1
| Volume vs its 30-day average | trading volume is about normal versus its 30-day average | 0.79× |
|---|
Analyst
2
| Change in the average price target | analysts have raised their average price target by 0.5% since the prior reading | +0.5% |
|---|---|---|
| Change in the consensus rating | the analyst consensus rating has improved toward "buy" since the prior reading | 0.03 toward buy |
Candlestick patterns
1
| Since a bullish engulfing | 6 sessions ago it opened below the previous session's close and finished above that session's open — a "bullish engulfing" pair, where one up day more than undid the down day before it | 6 sessions ago |
|---|
Price gaps
2
| Gap at the open | it opened on 2026-10-21 1.0% below the previous session's close — an overnight gap, the part of the move that happened while the market was shut, and traded back through that level before the close | -1.0% |
|---|---|---|
| Gap filled | a 2.3% gap up opened on 2026-09-03 has been "filled" 31 sessions ago — price traded back through the level the gap left behind, and it took 2 sessions to close | 31 sessions ago |
Price streaks
1
| Closing streak | it has closed higher 2 sessions in a row, a +1.29% move over the run — an unbroken run of up days, which describes what has already happened and says nothing about the next session | 2 sessions up |
|---|
Relative strength
4
| vs market, 1 month | over the past 1 month this stock beat the market by 13.6 percentage points (the stock gained 13.5% while the market lost 0.1%) | +13.6% |
|---|---|---|
| vs market, 3 months | over the past 3 months this stock beat the market by 9.2 percentage points (the stock gained 12.5% while the market gained 3.3%) | +9.2% |
| vs market, 6 months | over the past 6 months this stock lagged the market by 3.2 percentage points (the stock gained 6.6% while the market gained 9.8%) | -3.1% |
| vs market, 12 months | over the past 12 months this stock lagged the market by 21.1 percentage points (the stock lost 6.0% while the market gained 15.2%) | -21.1% |
Signal agreement
2
| Bullish technical signals | 5 of the 9 technical signals we can compute for it are currently in a bullish state: trading above its 200-day average, a fresh 20-day high, MACD momentum is positive, a strong uptrend, with buyers in control, trading above the Ichimoku cloud — these describe past price behaviour, not a forecast | 5 of 9 |
|---|---|---|
| Bearish technical signals | 4 of the 9 technical signals we can compute for it are currently in a bearish state: a "death cross" — its 50-day average is below its 200-day, its RSI momentum gauge is overbought (a stretched reading), lagging the market over 6 months, near the top of its 14-day range (overbought) — these describe past price behaviour, not a forecast | 4 of 9 |
Trend (Ichimoku cloud)
1
| Vs the Ichimoku cloud | trading 13% above the Ichimoku cloud — a band drawn from where its own highs and lows sat up to 2026-09-15 and projected forward over today's price, the side traders read as an established uptrend, with the band below acting as the level that would have to give way. The band itself is moderate, spanning 2.2% of the share price. | +12.7% |
|---|
Volume-weighted price
2
| Vs this year’s average price paid | the price is 10% above the average price paid so far this year, so the typical buyer over that stretch is showing a gain. That average is $28.68 — a volume-weighted average of daily closes over 199 sessions, not a true tick-by-tick VWAP. | +9.6% |
|---|---|---|
| Vs the average paid since it last reported | the price is 13% above the average price paid since it last reported on 2026-08-03 (its 8-K), so the typical buyer over that stretch is showing a gain. That average is $27.83 — a volume-weighted average of daily closes over 57 sessions, not a true tick-by-tick VWAP. | +13.0% |
Price levels it has turned at before
WMG last closed at $31.44 on 2026-10-21. Since 2024-10-21 it has turned at 7 prices below its last close and 4 above; the 3 nearest below and the 3 nearest above are listed, nearest first.
| Level | Side | Distance | Evidence |
|---|---|---|---|
| $31.40 | Support | 0.1% below the last close | turned there six times · 2024-10-31 to 2026-02-10 |
| $31.99 | Resistance | 1.8% above the last close | turned there twice · 2025-03-13 to 2025-07-24 |
| $30.60 | Support | 2.7% below the last close | turned there six times · 2024-12-30 to 2026-04-21 |
| $32.85 | Resistance | 4.5% above the last close | turned there five times · 2024-10-28 to 2025-09-25 |
| $29.65 | Support | 5.7% below the last close | turned there 10 times · 2024-11-21 to 2026-09-14 |
| $34.32 | Resistance | 9.2% above the last close | turned there five times · 2024-11-21 to 2025-10-21 |
A level is a price this company reversed or paused at more than once — they describe past behaviour, not a forecast of where the price will go.
Wave structure
Its recent swings can be read as a three-part downward correction — the A-B-C shape chartists use for a pullback — now complete.
This labelling fails — stops being a possible reading at all — if it closes below $26.45.
It is the only labelling that fits these swings, though its proportions are not the textbook ones.
This reading has stood for 11 trading days, since 2026-10-07.
Read from daily closes as of 2026-10-21.
An Elliott-wave count describes the swings already printed and the level that would disprove it. It is not a forecast, a target, or advice.
Screens: Trading above the 200-day moving average · Trading above the 50-day moving average · Tested and reclaimed 200-day support · Overbought (14-day RSI above 70) · Broke out to a new 20-day high · in a strong, established uptrend (ADX) | Learn: moving average · golden cross · adx · rsi · breakout
Based on daily closing prices as of 2026-10-21. Describes past price behavior only — informational, not financial advice.
Analyst consensus
- Consensus ratingBuy (1.53 mean, 1=Strong Buy…5=Strong Sell) — 17 analysts
- Mean price target$38.00 range $30.00 – $46.00; median $39.00
Analyst estimates, as of 2026-10-21. These are third-party analyst opinions and price targets, aggregated — not a recommendation, prediction, or advice from stocks-llm. Informational only.
Analyst EPS estimate for WMG
- Consensus EPS estimate$0.4213 next reporting period, as of 2026-10-21
- Estimate change, 30 days+$0.0025 (+0.6%) from $0.4188, on 2026-09-16, 35-day window
- Readings revised upward14% of 7 comparable readings
The consensus estimate for the next reporting period, and how it has moved between readings of that SAME period. A change is measured only between readings estimating one period — when a company reports, the consensus moves to the next quarter and the two numbers are not comparable. Informational only, not a forecast and not advice.
Key risks (from latest filing)
["dependence on the popularity and success of artists and songwriters","exposure to piracy, copyright infringement, and unauthorized digital distribution","volatility in the music industry driven by changes in consumer listening habits and technological disruption"]
What changed in the latest 10-Q
AI-assisted comparison of WMG's 10-Q filed 2026-05-07 against the prior one filed 2026-02-09.
Management's Discussion & Analysis (MD&A)
- Reworded:
- Fiscal quarter end date changed from 'December 31, 2025' (older filing, 2026-02-09) to 'March 31, 2026' (newer filing, 2026-05-07)
- Page number changed from '21' (older filing, 2026-02-09) to '25' (newer filing, 2026-05-07)
- Notes:
- Both filings appear truncated at the end of the risk factors section with incomplete text ('which may incr' and 'which may increas'). The comparison is limited to the non-truncated portions.
- The substantive forward-looking statements and risk factor disclosures are identical between the two filings; the only changes are the reporting period and resulting document pagination.
Risk Factors
The two filings could not be meaningfully compared for this section.
AI-assisted comparison of two SEC filing sections. It describes wording and theme changes only, makes no materiality, legal, or investment judgement, and is not financial advice. Informational only — not financial advice.
Insider activity (SEC Form 4)
No open-market insider purchases or sales are on record for WMG — recent Form 4 activity was compensation-related (awards, option exercises, or tax withholding), not open-market buying or selling.
View full insider trading history → View SEC Form 3/4/5 filingsOnly open-market purchases (SEC code P) and sales (code S) are counted here. Option exercises, vesting/awards, gifts, and shares withheld for taxes are excluded — they are compensation or mechanical, not open-market conviction. Sales may be planned and non-discretionary (e.g. a Rule 10b5-1 plan) and are not necessarily bearish; open-market buying is not a recommendation to buy. Informational only — not financial advice.
Institutional ownership (13F)
5 institutional 13F filers reported holding WMG as of 2026-06-30 (quarter-end position, filed within 45 days).
- Distinct 13F filers 5
- Reported shares held 19,598,327
- Reported value $530,526,708
reported quarterly holdings change (2026-03-31 → 2026-06-30): 0 new, 3 increased, 2 decreased, 1 exited. Change counts cover only managers that filed 13F reports in BOTH quarters, derived between two quarter-end snapshots — not same-day trades; a single manager is never said to have "bought" or "sold".
Institutional holdings are quarter-end long positions reported on SEC Form 13F-HR, filed up to 45 days after the quarter ends — they are delayed, are not real-time trades, exclude short positions and most non-US securities, and are not investment advice. Any increase/decrease is a reported change between two quarterly snapshots, not a same-day purchase or sale. These are quarter-end snapshots from the 13F filings on SEC EDGAR, filed within 45 days — not real-time, and any change is a difference between two quarterly reports, not a same-day trade. Informational only — not financial advice.
Ask about WMG's institutional holders → See what each manager we track holds →
Short interest (FINRA)
WMG had 10,171,392 shares of reported short interest as of the 2026-09-30 FINRA settlement date (delayed, bi-monthly; not real-time).
Short interest as a percent of shares outstanding is not shown for WMG because we do not hold a verified share count to divide it by. The reported figures above are unaffected.
- Reported short interest (shares) 10,171,392
- Prior settlement (shares) 9,611,971
- Reported change 5.82%
- Days to cover (reported) 4.74
Reported to FINRA as of the 2026-09-30 settlement date. Short interest is reported to FINRA and published on a delayed, bi-monthly schedule (as of a settlement date, disseminated roughly eight business days later) — it is NOT real-time, does not cover every venue or all US trading, and is not a short-squeeze prediction or investment advice. Days-to-cover is the value FINRA reports; percent of float is not shown because the source file carries no share-count denominator — where a percent appears it is of shares OUTSTANDING, the larger base, and is therefore a floor on percent of float. Informational only — not financial advice.
Competitors & peers
- Universal Music Group
- Sony Music Entertainment (SONY)
- Believe (BLV.PA)
- Spotify (SPOT)
- Apple Music (AAPL)
- Live Nation Entertainment (LYV)
AI-enriched competitor set. Linked names are companies covered by stocks-llm; other named peers are shown for reference only.
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Frequently asked questions
What does Warner Music Group Corp. (WMG) do?
Warner Music Group is a global music company that operates through two primary segments: recorded music and music publishing. It discovers and develops recording artists and songwriters, manages the licensing and distribution of music recordings, and administers the rights to musical compositions across various media platforms.
What sector is Warner Music Group Corp. (WMG) in?
Warner Music Group Corp. (WMG) is classified in the Communication Services sector. Its industry is Music publishing and recorded music. It trades on NASDAQ.
Does WMG pay a dividend?
Yes — Warner Music Group Corp. (WMG) pays a dividend, with an indicated yield of about 2.86% and at least 5 years of non-decreasing per-share dividends (SEC EDGAR XBRL) — we do not hold the year before it, so the real streak may be longer (market data, as of 2026-09-02). Informational only — not financial advice.
Who are Warner Music Group Corp.'s (WMG) competitors?
Notable peers of Warner Music Group Corp. (WMG) include Universal Music Group, Sony Music Entertainment, Believe, Spotify and Apple Music. This peer set is informational only — not financial advice.
Is Warner Music Group Corp. (WMG) overbought or oversold right now?
Warner Music Group Corp. (WMG) is currently in overbought territory (its 14-day RSI is 73, above 70) (as of 2026-10-21). RSI describes recent price momentum, not a forecast — informational only, not financial advice.
Where does stocks-llm's data on WMG come from?
Fundamentals come from SEC XBRL company filings for the figures marked with a fiscal year, and market data, as of 2026-09-02 for the rest; prices are market data, as of 2026-09-02; company filings and profile facts come from SEC EDGAR. All figures are delayed daily-close data shown with their as-of date — informational only, not financial advice.
Fundamentals: SEC XBRL company filings for the figures marked with a fiscal year, and market data, as of 2026-09-02 for the rest. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-10-21.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & market data, shown with their as-of date.