Warner Music Group Corp. (WMG) quarterly balance sheet — complete assets, liabilities & equity history
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Total Current Assets | 3.22B | 3.02B | 2.77B | 2.68B | 2.6B | 2.72B | 2.64B | 2.48B | 2.45B | 2.62B | 2.4B | 2.32B | 2.21B | 2.34B | 2.14B | 1.9B | 1.91B | 2.02B | 1.9B | 1.73B |
| Cash & Short-Term Investments | 741M | 751M | 532M | 527M | 637M | 802M | 694M | 607M | 587M | 754M | 641M | 600M | 601M | 720M | 584M | 345M | 385M | 450M | 499M | 442M |
| Cash Only | 741M | 751M | 532M | 527M | 637M | 802M | 694M | 607M | 587M | 754M | 641M | 600M | 601M | 720M | 584M | 345M | 385M | 450M | 499M | 442M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 1.5B | 1.37B | 1.34B | 1.3B | 1.22B | 1.2B | 1.25B | 1.22B | 1.2B | 1.2B | 1.12B | 1.11B | 1.02B | 1B | 984M | 970M | 914M | 941M | 839M | 834M |
| Days Sales Outstanding | 74.8 | 67.85 | 65.13 | 67.97 | 73.35 | 67.81 | 69.9 | 70.83 | 72.85 | 60.92 | 64.77 | 61.97 | 65.01 | 61.46 | 60.04 | 59.86 | 60.66 | 50.73 | 55.93 | 54.91 |
| Inventory | 65M | 60M | 62M | 101M | 88M | 84M | 99M | 92M | 97M | 106M | 126M | 116M | 114M | 102M | 108M | 93M | 94M | 84M | 99M | 79M |
| Days Inventory Outstanding | 6.05 | 5.69 | 7.25 | 9.42 | 9.79 | 9.42 | 10.29 | 10.36 | 11.68 | 12.13 | 13.17 | 12.31 | 13.48 | 12.69 | 11.57 | 11.11 | 11.49 | 10.29 | 10.89 | 10.56 |
| Other Current Assets | 260M | 249M | 255M | 166M | 147M | 156M | 125M | 112M | 113M | 108M | 102M | 98M | 109M | 109M | 91M | 84M | 82M | 78M | 86M | 64M |
| Total Non-Current Assets | 7.39B | 6.99B | 7.06B | 7.1B | 6.97B | 6.43B | 6.51B | 6.35B | 6.28B | 6.38B | 6.14B | 5.83B | 5.8B | 5.79B | 5.69B | 5.8B | 5.87B | 5.99B | 5.32B | 5.31B |
| Property, Plant & Equipment | 582M | 597M | 630M | 688M | 720M | 712M | 706M | 690M | 695M | 708M | 703M | 706M | 673M | 650M | 641M | 642M | 639M | 636M | 632M | 620M |
| Fixed Asset Turnover | 2.94x | 3.00x | 2.83x | 2.40x | 2.07x | 2.35x | 2.34x | 2.24x | 2.13x | 2.48x | 2.25x | 2.27x | 2.11x | 2.31x | 2.33x | 2.24x | 2.16x | 2.55x | 2.20x | 2.19x |
| Goodwill | 2.05B | 2.06B | 2.06B | 2.06B | 2.03B | 2.01B | 2.02B | 2B | 2.01B | 2.02B | 1.99B | 1.96B | 1.96B | 1.95B | 1.92B | 1.93B | 1.92B | 1.95B | 1.83B | 1.84B |
| Intangible Assets | 3.25B | 2.84B | 2.73B | 2.92B | 2.92B | 2.48B | 2.51B | 2.46B | 2.47B | 2.54B | 2.5B | 2.35B | 2.38B | 2.42B | 2.38B | 2.49B | 2.56B | 2.62B | 2.17B | 2.22B |
| Long-Term Investments | 0 | 0 | 8M | 9M | 8M | 8M | 9M | 10M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 1.41B | 1.4B | 1.52B | 1.37B | 1.25B | 1.18B | 1.21B | 1.16B | 1.08B | 1.08B | 913M | 793M | 755M | 744M | 715M | 708M | 723M | 786M | 651M | 598M |
| Total Assets | 10.61B | 10.01B | 9.83B | 9.78B | 9.57B | 9.15B | 9.15B | 8.83B | 8.73B | 8.99B | 8.54B | 8.15B | 8.01B | 8.13B | 7.83B | 7.7B | 7.78B | 8.02B | 7.21B | 7.04B |
| Asset Turnover | 0.17x | 0.19x | 0.19x | 0.17x | 0.16x | 0.18x | 0.18x | 0.18x | 0.17x | 0.20x | 0.19x | 0.19x | 0.17x | 0.19x | 0.19x | 0.19x | 0.17x | 0.21x | 0.19x | 0.19x |
| Asset Growth % | 10.91% | 9.46% | 7.36% | 10.72% | 9.59% | 1.72% | 7.14% | 8.34% | 9% | 10.6% | 9.16% | 5.86% | 2.94% | 1.42% | 8.56% | 9.36% | 13.92% | 15.44% | 12.5% | 14.51% |
| Total Current Liabilities | 4.42B | 4.31B | 4.2B | 4.05B | 3.92B | 3.92B | 3.9B | 3.57B | 3.53B | 3.75B | 3.54B | 3.29B | 3.19B | 3.34B | 3.37B | 3.12B | 3.13B | 3.36B | 3.15B | 2.9B |
| Accounts Payable | 452M | 201M | 257M | 241M | 347M | 189M | 289M | 200M | 306M | 246M | 300M | 249M | 282M | 220M | 268M | 265M | 320M | 274M | 302M | 226M |
| Days Payables Outstanding | 31.6 | 21.35 | 22.15 | 29.3 | 30.49 | 24.6 | 26.34 | 27.74 | 31.75 | 28.54 | 29.89 | 28.42 | 31.33 | 29.5 | 30.69 | 34.75 | 38.35 | 32.39 | 32.3 | 30.8 |
| Short-Term Debt | 0 | 47M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 451M | 246M | 335M | 278M | 319M | 312M | 246M | 168M | 234M | 305M | 371M | 226M | 311M | 327M | 423M | 197M | 239M | 298M | 348M | 275M |
| Other Current Liabilities | 141M | 3.82B | 129M | 3.49B | 93M | 141M | 110M | 52M | 58M | 124M | 57M | 84M | 68M | 158M | 245M | 227M | 235M | 272M | 102M | 101M |
| Current Ratio | 0.73x | 0.70x | 0.66x | 0.66x | 0.66x | 0.69x | 0.68x | 0.69x | 0.69x | 0.70x | 0.68x | 0.70x | 0.69x | 0.70x | 0.64x | 0.61x | 0.61x | 0.60x | 0.60x | 0.60x |
| Quick Ratio | 0.71x | 0.69x | 0.64x | 0.64x | 0.64x | 0.67x | 0.65x | 0.67x | 0.67x | 0.67x | 0.64x | 0.67x | 0.66x | 0.67x | 0.60x | 0.58x | 0.58x | 0.58x | 0.57x | 0.57x |
| Cash Conversion Cycle | 49.25 | 52.19 | 50.23 | 48.08 | 52.64 | 52.63 | 53.85 | 53.45 | 52.77 | 44.51 | 48.05 | 45.85 | 47.16 | 44.65 | 40.93 | 36.22 | 33.81 | 28.63 | 34.52 | 34.66 |
| Total Non-Current Liabilities | 5.22B | 4.87B | 4.87B | 4.92B | 4.86B | 4.53B | 4.58B | 4.62B | 4.61B | 4.63B | 4.58B | 4.56B | 4.56B | 4.51B | 4.29B | 4.4B | 4.48B | 4.49B | 4.01B | 4.04B |
| Long-Term Debt | 4.72B | 4.56B | 4.37B | 4.36B | 4.29B | 3.96B | 4.01B | 3.98B | 3.98B | 4B | 3.96B | 3.99B | 3.99B | 3.95B | 3.73B | 3.79B | 3.83B | 3.85B | 3.35B | 3.37B |
| Capital Lease Obligations | 174M | 188M | 200M | 212M | 216M | 222M | 228M | 232M | 239M | 249M | 255M | 264M | 247M | 234M | 241M | 255M | 269M | 275M | 287M | 293M |
| Deferred Tax Liabilities | 180M | 169M | 164M | 204M | 214M | 209M | 195M | 251M | 236M | 223M | 216M | 205M | 220M | 223M | 220M | 241M | 236M | 195M | 207M | 211M |
| Other Non-Current Liabilities | 146M | -44M | 142M | 136M | 140M | 140M | 146M | 161M | 154M | 154M | 141M | 104M | 104M | 103M | 99M | 123M | 143M | 170M | 175M | 172M |
| Total Liabilities | 9.64B | 9.18B | 9.07B | 8.96B | 8.78B | 8.45B | 8.48B | 8.2B | 8.15B | 8.38B | 8.12B | 7.85B | 7.74B | 7.85B | 7.66B | 7.53B | 7.61B | 7.84B | 7.17B | 6.95B |
| Total Debt | 4.94B | 4.79B | 4.61B | 4.62B | 4.55B | 4.22B | 4.29B | 4.25B | 4.27B | 4.3B | 4.26B | 4.29B | 4.27B | 4.22B | 4.01B | 4.08B | 4.14B | 4.16B | 3.68B | 3.7B |
| Net Debt | 4.2B | 4.04B | 4.08B | 4.09B | 3.92B | 3.42B | 3.59B | 3.65B | 3.68B | 3.54B | 3.62B | 3.69B | 3.67B | 3.5B | 3.43B | 3.73B | 3.75B | 3.71B | 3.18B | 3.26B |
| Debt / Equity | 5.08x | 5.78x | 6.09x | 5.69x | 5.77x | 6.06x | 6.35x | 6.70x | 7.29x | 6.97x | 9.91x | 14.36x | 16.07x | 14.96x | 23.89x | 23.72x | 23.92x | 24.21x | 79.91x | 38.98x |
| Debt / EBITDA | 13.25x | 11.25x | 13.84x | 17.43x | 17.66x | 14.08x | 18.97x | 14.82x | 21.12x | 9.88x | 14.64x | 15.61x | 20.65x | 12.09x | 16.38x | 17.51x | 16.23x | 13.01x | 20.54x | 15.37x |
| Net Debt / EBITDA | 11.26x | 9.49x | 12.24x | 15.44x | 15.19x | 11.41x | 15.90x | 12.70x | 18.21x | 8.14x | 12.44x | 13.43x | 17.74x | 10.03x | 14.00x | 16.03x | 14.72x | 11.61x | 17.75x | 13.53x |
| Interest Coverage | 7.20x | 6.47x | 3.73x | 0.74x | 2.67x | 9.92x | 2.28x | 5.28x | 3.71x | 7.79x | 6.89x | 5.39x | 2.66x | 6.38x | 7.03x | 6.13x | 4.94x | 9.77x | 2.79x | 4.40x |
| Total Equity | 972M | 829M | 757M | 812M | 790M | 697M | 675M | 635M | 585M | 616M | 430M | 299M | 266M | 282M | 168M | 172M | 173M | 172M | 46M | 95M |
| Equity Growth % | 23.04% | 18.94% | 12.15% | 27.87% | 35.04% | 13.15% | 56.98% | 112.37% | 119.92% | 118.44% | 155.95% | 73.84% | 53.76% | 63.95% | 265.22% | 81.05% | 136.99% | 421.21% | 202.22% | 552.38% |
| Book Value per Share | 1.87 | 1.60 | 1.46 | 1.56 | 1.52 | 1.34 | 1.30 | 1.23 | 1.13 | 1.19 | 0.83 | 0.58 | 0.52 | 0.55 | 0.32 | 0.33 | 0.34 | 0.33 | 0.09 | 0.18 |
| Total Shareholders' Equity | 738M | 720M | 647M | 589M | 567M | 545M | 518M | 483M | 433M | 463M | 307M | 281M | 252M | 270M | 152M | 156M | 154M | 153M | 31M | 81M |
| Common Stock | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 1M |
| Retained Earnings | -1.17B | -1.25B | -1.33B | -1.34B | -1.23B | -1.17B | -1.31B | -1.26B | -1.31B | -1.32B | -1.39B | -1.45B | -1.49B | -1.44B | -1.48B | -1.54B | -1.59B | -1.6B | -1.71B | -1.66B |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -225M | -180M | -189M | -174M | -292M | -376M | -247M | -311M | -301M | -260M | -322M | -277M | -261M | -276M | -347M | -278M | -231M | -220M | -202M | -194M |
| Minority Interest | 234M | 109M | 110M | 223M | 223M | 152M | 157M | 152M | 152M | 153M | 123M | 18M | 14M | 12M | 16M | 16M | 19M | 19M | 15M | 14M |