Discounted Cash Flow

Warner Bros. Discovery, Inc.

WBD · Based on 10 years of SEC filings

DCF estimate unavailable — only_6_profitable_out_of_10

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $6.5b $1.2b $1.1b 18.4% $5.91
2017 $6.9b (5.8%) $-337.0m (-128.2%) $1.5b (35.7%) -4.9% (-126.7%) $-11.92 (-301.7%)
2018 $10.6b (53.5%) $594.0m (276.3%) $2.5b (68.3%) 5.6% (214.8%) $17.51 (246.9%)
2019 $11.1b (5.6%) $2.1b (248.3%) $3.1b (23.7%) 18.6% (229.8%) $58.97 (236.8%)
2020 $10.7b (-4.2%) $1.2b (-41.1%) $2.3b (-24.9%) 11.4% (-38.5%) $37.06 (-37.2%)
2021 $12.2b (14.2%) $1.0b (-17.5%) $2.4b (3.8%) 8.3% (-27.8%) $31.56 (-14.8%)
2022 $33.8b (177.4%) $-7.4b (-832.7%) $3.3b (36.8%) -21.8% (-364.1%) $-3.82 (-112.1%)
2023 $41.3b (22.2%) $-3.1b (57.6%) $6.2b (85.7%) -7.6% (65.3%) $-1.28 (66.5%)
2024 $39.3b (-4.8%) $-11.3b (-261.8%) $4.4b (-28.1%) -28.8% (-280.2%) $-4.62 (-260.9%)
2025 $37.3b (-5.1%) $727.0m (106.4%) $3.1b (-30.2%) 1.9% (106.8%) $0.29 (106.3%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Values abbreviated: b = billions, m = millions, k = thousands.

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model

only_6_profitable_out_of_10

Once the company meets all DCF eligibility criteria (sufficient history, profitability, growth trends), an estimate will become available automatically. No action is needed.