Wall Street analyst estimates for Warner Music Group Corp. (WMG): consensus price target, buy/hold/sell recommendations and forecasts for revenue and EPS for the upcoming fiscal years.
Warner Music Group Corp. (WMG), established in 1929 and based in New York City, functions as a prominent global entertainment enterprise primarily focused on music. Its operations span the United States, the United Kingdom, Germany, and numerous other international markets. The company's activities are organized into two distinct divisions: Recorded Music and Music Publishing. The Recorded Music division is dedicated to identifying and cultivating emerging musical talent.
Revenue and EPS estimates
| Fiscal year | Revenue (average) | Revenue (low – high) | EPS (average) | Analysts |
|---|---|---|---|---|
| 2026E | $7.3B | $7.3B – $7.3B | $1.49 | 7 |
| 2027E | $7.8B | $7.7B – $7.9B | $1.80 | 7 |
| 2028E | $8.3B | $8.1B – $8.6B | $2.06 | 11 |
Fiscal year ending in September · figures in USD · consensus as of November 5, 2026
Analyst Consensus
| Strong Buy | 0 |
| Buy | 16 |
| Hold | 7 |
| Sell | 1 |
| Strong Sell | 0 |
| Total analysts | 24 |
| Avg rating (−2 sell to +2 buy) | 0.62 |
Recent Earnings Surprises
| Date | EPS Actual | EPS Est. | vs Est. |
|---|---|---|---|
| 2026-11-19 | $0.36 | ||
| 2026-08-05 | $0.38 | $0.34 | +10.6% |
| 2026-05-07 | $0.34 | $0.27 | +27.2% |
| 2026-02-05 | $0.33 | $0.40 | -17.5% |
| 2025-11-20 | $0.21 | $0.35 | -40.0% |
| 2025-08-07 | $-0.03 | $0.29 | -110.3% |
| 2025-05-08 | $0.07 | $0.28 | -75.2% |
| 2025-02-06 | $0.45 | $0.34 | +32.4% |
Valuation Ratios
| P/E Ratio | 25.23 |
| Price / Book | 19.88 |
| Dividend Yield | 2.37% |
Income Statement (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.25B | $3.58B | $4.00B | $4.47B | $4.46B | $5.30B | $5.92B | $6.04B | $6.43B | $6.71B |
| Cost of Revenue | $1.71B | $1.93B | $2.17B | $2.40B | $2.33B | $2.74B | $3.08B | $3.18B | $3.35B | $3.63B |
| Gross Profit | $1.54B | $1.65B | $1.83B | $2.07B | $2.13B | $2.56B | $2.84B | $2.86B | $3.07B | $3.08B |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Selling, General & Admin | $1.08B | $1.22B | $1.41B | $1.51B | $2.17B | $1.72B | $1.79B | $1.74B | $1.78B | $1.71B |
| Operating Expenses | $1.32B | $1.42B | $1.62B | $1.72B | $2.36B | $1.95B | $2.12B | $2.07B | $2.25B | $2.38B |
| Operating Income | $214.0M | $222.0M | $217.0M | $356.0M | -$229.0M | $609.0M | $714.0M | $790.0M | $823.0M | $694.0M |
| EBITDA | $507.0M | $398.0M | $841.0M | $678.0M | -$59.0M | $884.0M | $1.20B | $1.08B | $1.09B | $1.03B |
| Interest Expense | $173.0M | $149.0M | $138.0M | $142.0M | $127.0M | $122.0M | $125.0M | $141.0M | $161.0M | $159.0M |
| Pre-tax Income | $41.0M | -$2.0M | $442.0M | $267.0M | -$447.0M | $456.0M | $740.0M | $609.0M | $601.0M | $490.0M |
| Income Tax | $11.0M | -$151.0M | $130.0M | $9.0M | $23.0M | $149.0M | $185.0M | $170.0M | $123.0M | $120.0M |
| Net Income | $25.0M | $143.0M | $307.0M | $256.0M | -$475.0M | $304.0M | $551.0M | $430.0M | $435.0M | $365.0M |
| EPS | $0.05 | $0.28 | $0.62 | $0.50 | -$0.93 | $0.58 | $1.06 | $0.82 | $0.83 | $0.70 |
| EPS (Diluted) | $0.05 | $0.28 | $0.62 | $0.50 | -$0.93 | $0.58 | $1.06 | $0.82 | $0.84 | $0.70 |
| Shares Outstanding (Diluted) | 502.0 M | 502.0 M | 502.0 M | 510.0 M | 510.0 M | 513.5 M | 519.8 M | 515.7 M | 517.5 M | 519.0 M |
Price
| Price | $32.55 (closing price, November 4, 2026) |
| Market Cap | $17.0B |
| Exchange | NASDAQ |
| Country | US |
Related companies: SIRI · SPOT · TME · NFLX · DIS · LYV · 0JVD.L
Explore sector: Communication Services · Entertainment
More sections of WMG: Overview · Financials · Valuation · Technical · Ownership
Discover more: Weekly Radar: the S&P 500 through the Buffett and Lynch methods · Companies that pass the Buffett method · Companies that pass the Lynch method · Stocks that pass Graham's defensive investor test today · Investment Academy — learn to analyze stocks