Warner Bros. Discovery (WBD) Balance Sheet: Assets & Liabilities

Warner Bros. Discovery (WBD) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), Warner Bros. Discovery reported total assets of $100.08B and total liabilities of $62.92B. Shareholders' equity was $35.92B, up 2.8% from $34.94B a year earlier. Total debt stood at $32.57B against $4.57B in cash and short-term investments, a net debt position of $28.00B. That puts debt-to-equity at 0.91, compared with 1.13 a year earlier.

Warner Bros. Discovery Balance Sheet Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for Warner Bros. Discovery, Inc. (WBD) - Annual data in billions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Current Assets
Cash and Cash Equivalents	4.57	5.31	3.78	3.73	3.91	2.09	1.55	0.99	7.31
Short-Term Investments	0.02	0.02	0.00	0.01	0.00	0.00	0.00	0.00	0.00
Cash & Short-Term Investments	4.57	5.33	3.78	3.74	3.91	2.09	1.55	0.99	7.31
Accounts Receivable	5.29	4.95	7.31	6.38	2.45	2.54	2.63	2.62	1.84
Inventory	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Current Assets	1.95	3.82	3.13	3.89	0.91	1.50	1.03	0.63	0.84
Total Current Assets	13.21	14.08	14.22	14.00	7.26	6.13	5.22	4.23	9.99
Non-Current Assets
Property, Plant & Equipment (Net)	6.69	6.09	5.96	5.30	1.34	1.21	0.95	0.80	0.60
Long-Term Investments	0.00	1.10	0.00	1.58	0.54	0.51	0.57	0.94	0.34
Goodwill	25.93	25.67	34.97	34.44	12.91	13.07	13.05	13.01	7.07
Intangible Assets	46.88	52.65	59.51	72.58	10.15	11.08	11.80	12.74	3.98
Other Non-Current Assets	7.38	26.43	8.10	35.28	2.77	2.10	2.15	0.84	0.58
Total Non-Current Assets	86.88	90.48	108.54	120.00	27.16	27.96	28.52	28.32	12.56
Total Assets	100.09	104.56	122.76	134.00	34.43	34.09	33.74	32.55	22.56
Current Liabilities
Accounts Payable	1.09	1.06	1.26	1.45	0.41	0.40	0.46	0.33	0.28
Short-Term Debt	0.14	2.75	1.78	0.37	0.34	0.34	0.61	1.82	0.03
Current Portion of Long-Term Debt	0.14	2.75	1.78	0.37	0.34	0.34	-	-	-
Accrued Liabilities	8.96	10.44	10.37	11.50	2.23	1.14	-	-	-
Deferred Revenue	1.64	1.57	1.92	1.69	0.48	0.56	0.49	0.25	0.26
Other Current Liabilities	9.63	10.44	10.37	11.50	2.23	1.79	1.68	1.60	1.26
Total Current Liabilities	12.50	15.81	15.33	15.02	3.46	3.08	3.24	4.00	1.87
Non-Current Liabilities
Long-Term Debt	32.43	36.76	41.89	48.63	14.42	15.07	14.81	14.97	14.76
Deferred Tax Liabilities	6.38	6.99	8.74	11.01	1.23	1.53	1.69	1.81	0.32
Other Non-Current Liabilities	11.61	17.06	10.33	21.68	1.93	2.02	2.03	1.25	0.59
Total Non-Current Liabilities	50.42	53.81	60.95	70.32	17.57	18.62	18.53	18.04	15.66
Total Liabilities	62.92	69.62	76.29	85.33	21.03	21.70	21.77	22.03	17.53
Stockholders' Equity
Common Stock	0.03	0.03	0.03	0.03	0.01	0.01	0.01	0.01	0.01
Retained Earnings	-11.51	-12.24	-0.93	2.21	9.58	8.54	7.33	5.25	4.63
Accumulated Other Comprehensive Income	-0.41	-1.07	-0.74	-1.52	-0.83	-0.65	-0.82	-0.79	-0.59
Treasury Stock	8.24	8.24	8.24	8.24	8.24	-	-	-	-
Additional Paid-in Capital	56.06	47.32	46.87	46.39	11.09	2.57	3.37	3.91	0.56
Minority Interest	1.25	0.90	1.25	1.57	1.80	1.92	2.08	2.13	0.41
Shares Outstanding	2.48	2.45	2.44	2.43	0.51	-	-	-	-
Total Stockholders' Equity	35.92	34.94	45.23	48.67	11.60	10.46	9.89	8.39	4.61
Total Liabilities & Equity	100.09	104.56	122.76	134.00	34.43	34.09	33.74	32.55	22.56

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Warner Bros. Discovery Balance Sheet

How much debt does Warner Bros. Discovery have?

Warner Bros. Discovery had total debt of $32.57B as of Dec 31, 2025, against $4.57B in cash and short-term investments. Its debt-to-equity ratio was 0.91. Total debt was $39.51B a year earlier.

What are Warner Bros. Discovery's total assets?

Warner Bros. Discovery reported total assets of $100.08B as of Dec 31, 2025, down 4.3% from $104.56B a year earlier. Total liabilities were $62.92B.

What is Warner Bros. Discovery's shareholders' equity?

Warner Bros. Discovery's shareholders' equity was $35.92B as of Dec 31, 2025, or about $14.48 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition