Key facts, as of
As of October 6, 2026, Warner Bros. Discovery (WBD) trades at $30.95, up 63.0% over the past year. It is at the top of its 52-week range ($17.08 to $30.99). It is 60.4% below its all-time high of $78.14, reached in March 2021. Over the 10 years to the end of September 2026, with dividends reinvested, it returned +15.0%, against +312.9% for the S&P 500 (SPY). It sits 11.8% above its 200-day average of $27.69, the usual sign of a long-term uptrend. Its 30-day volatility is 39.3% annualized, which we rate high risk.
Cite: Portfolio Terminal, "Warner Bros. Discovery (WBD) stock analysis", 2026-10-06. https://portfolio-terminal.com/analyse/wbd
Where it trades today
trading 100% of the way up its 52-week range
How the price has moved
How far it is from its record
Warner Bros. Discovery (WBD) is 60.4% below its all-time high of $78.14, reached in March 2021. Over the 10 years to the end of September 2026, with dividends reinvested, it returned +15.0%, against +312.9% for the S&P 500 (SPY).
What to weigh before acting
What Matters Now
- Ad demand, engagement trends, and the durability of monetization are usually the swing factors for the multiple.
- Recent realized volatility is running around 39.3%, above the sector norm of 25.0%, so position sizing matters more than usual.
- WBD is in a bullish short-term regime and only 0.1% below its 52-week high, so the question is whether fundamentals can keep pace with that stronger tape.
Portfolio Use Case
- WBD is more useful for investors comparing conviction names inside communication services than for someone looking for a passive “set and forget” holding.
- This name works better as a satellite or higher-conviction growth position because it can amplify market swings in both directions.
- This page is most useful for deciding whether the stock deserves a permanent slot in the portfolio or just a place on the watchlist.
What Would Change the View
- If the short-term trend rolls over while volume fades, the market may stop paying up for momentum before the fundamentals change.
- Volatility is already above the sector norm, so even a correct long-term thesis can be painful if the position size is too aggressive.
- There is little income cushion here, so total return depends mainly on price appreciation and execution staying on track.
Methodology
- Price, market cap, beta, yield, and liquidity fields for WBD come from Yahoo Finance quote and summary data.
- 30-day volatility is calculated from recent daily returns and annualized using a 252-trading-day convention.
- Sector context uses stored benchmark averages for Communication Services so each page compares the ticker against a stable peer baseline rather than against the whole market.
- Peer comparisons use the Portfolio Terminal coverage set and highlight nearby listed alternatives such as GOOGL, META, DIS.
Sources
- Yahoo Finance quote dataopen →
Live quote, valuation, beta, yield, and volume fields used for WBD. Last refresh: Oct 6, 2026, 11:07 PM.
- Portfolio Terminal methodologyopen →
Explains how analytics, refresh cadence, and portfolio interpretation work across the product.
- Peer set and coverage context
Comparative context for this page is anchored around nearby tracked names such as GOOGL, META, DIS.
What Warner Bros. Discovery does
Warner Bros. Discovery, Inc. operates as a media and entertainment company worldwide. It operates through three segments: Streaming, Studios, and Global Linear Networks. 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…
What analysts expect
WBD carries a hold consensus from 12 analysts, with an average price target of $30.17 versus $30.95 today (-2.5%). Targets are estimates and can move quickly after earnings.
Consensus aggregated by Yahoo Finance. Targets are estimates, not forecasts.
How the business is doing
WBD generated $36.12B in trailing revenue (-11.2% year over year), with a -8.8% net margin, and $16.17B of free cash flow, against $28.61B of net debt.
The numbers, year by year
| Fiscal year | Revenue | Gross profit | Operating income | Net income | EPS | Free cash flow |
|---|---|---|---|---|---|---|
| 2025 | $37.30B | $16.41B | $1.31B | $727.00M | $0.29 | $3.09B |
| 2024 | $39.32B | $16.35B | $18.00M | -$11.31B | -$4.62 | $4.43B |
| 2023 | $41.32B | $16.80B | -$886.00M | -$3.13B | -$1.28 | $6.16B |
| 2022 | $33.82B | $13.38B | -$3.50B | -$7.37B | -$3.82 | $3.32B |
When it reports next
Estimates aggregated by Yahoo Finance. Dates move and estimates change until the report lands.
Which ETFs hold it
WBD is in 7 of the 30 ETFs we track. It weighs most in QQQM: 0.32% of the fund, holding #57 of 102.
Famous investors who hold it
WBD is in the latest 13F of 3 of the 15 famous investors we follow. Dan Loeb (Third Point) holds the most of it: 11.4% of the portfolio, position #1 of 39, as of Q2 2026. It is Dan Loeb's largest position.
How it sits in communication services
Media, entertainment, telecommunications, and interactive services.
The companies it competes with
WBD beside the communication services names it is usually measured against.
What the chart is saying
Trading at its high for the year, with no resistance overhead.
uptrend- Price is 9.3% above its 50-day average and 11.8% above its 200-day.
- The 50-day crossed above the 200-day on 2026-09-24 (a “golden cross”).
- RSI at 75 is overbought: strong momentum, and stretched.
- Nothing above has stopped it this year; the nearest floor is $29.12 (-5.9%).
A description of the chart, not advice. Indicators describe what the price has done; none of them knows what it does next.
Questions people ask about it
Is WBD a good investment in 2026?
Warner Bros. Discovery operates in the Communication Services sector. Check our real-time metrics above for current valuation.
What is the risk level of WBD?
Based on 30-day volatility of 39.3%, WBD has HIGH risk. Beta of 1.54 indicates higher sensitivity to market movements than average.
Does WBD pay dividends?
Warner Bros. Discovery currently does not pay a regular dividend.
How far is WBD from its all-time high?
Warner Bros. Discovery is 60.4% below its all-time high of $78.14, reached in March 2021. Over the 10 years to the end of September 2026, with dividends reinvested, it returned +15.0%, against +312.9% for the S&P 500 (SPY).
Which ETFs hold WBD?
7 of the 30 popular ETFs we track hold Warner Bros. Discovery. The largest weights: QQQM (0.32%), QQQ (0.32%), VTV (0.25%), SPY (0.12%) and IVV (0.12%). Measured on each issuer's full holdings file, dated August 31 to October 1, 2026.
How much of VOO is WBD?
0.11%, as of August 31, 2026: WBD is holding #173 of 505 in Vanguard's file for VOO. $1,000 in VOO puts about $1.07 in Warner Bros. Discovery.
Which famous investors own WBD?
Dan Loeb (11.4% of Third Point's 13F), George Soros (0.49% of Soros Fund Management's 13F) and Renaissance Technologies (0.22% of Founded by Jim Simons's 13F), according to their latest Form 13F filings with the SEC (Q2 2026). A 13F lists US long positions 45 days after the quarter ends, so it can be out of date.
What is the analyst price target for WBD?
The average analyst price target for Warner Bros. Discovery (WBD) is $30.17 based on 12 analyst estimates, about 2.5% below the current price of $30.95. The published range runs from $26.00 to $31.25.
How much revenue does WBD generate?
Warner Bros. Discovery reported $36.12B in trailing twelve-month revenue. Revenue growth is running at -11.2% year over year. Net margin sits at -8.8%. Figures are aggregated from company filings by Yahoo Finance and refresh on an hourly cadence.
Compare WBD with anything
Five years side by side: what $10,000 became, how far each fell, whether they move together.