WBD · CIK 0001437107 · FY2025 live · 2025-12-31
Warner Bros. Discovery, Inc.
View as
Model
Z″
FY2025
0.32
Zone
Distress
vs FY2024
+0.94
Market DD
—
1y PD
—
Meridian Rank
60.87
0–100 · Z″ tape · not a PD
Book standing
38
Year change
90
Market PD
—
O-score
83
Events on this name
Same published rows as Today. Not a live recompute.
Market PD unavailable
watch · 45
0.32
Classic Z 0.59
Z″ 0.32 · distress below 1.10, grey to 2.60, safe above.
Z″ factor contributions
X1 Working capital / assets
Short-term liquidity. Carries more weight in Z″ than in classic Z.
0.016.56 × = 0.05X2 Retained earnings / assets
Cushion from years of profits. Share buybacks can push this negative at otherwise healthy firms.
−0.123.26 × = −0.37X3 EBIT / assets
Operating return on assets. Highest weight in Z″.
0.016.72 × = 0.05X4 Book equity / liabilities
Book equity versus the liability stack. Sales / assets is omitted so asset-light names are not punished for turnover.
0.571.05 × = 0.60
Five-year path
Z″ plus liquidity (working capital / assets) and earnings (EBIT / assets) over the last 5 annual filings.
Overview
rule-v1
Warner Bros. Discovery, Inc. is on Z″ at 0.32 (distress) for FY2025, from an SEC 10-K. Book equity / liabilities is the line that sets the print; retained earnings / assets is the runner-up. Versus FY2024 the live print is still distress (+0.94 from −0.62). No market tape loaded. Z″ drops sales/assets so asset-light names are not punished for turnover. X4 is book equity on every name.
Book screen Distress; market PD —. Tape not priced — not a single default call.
MD&A excerpt
The company highlights post-merger integration, linear-network cord-cutting, and a still-heavy debt stack inherited from the Discovery combination. Management points to content-cost rationalization and sports-rights mix as the path to de-levering. Free cash flow is described as a priority, with asset sales and a pause on the dividend already in place to protect the balance sheet.
Market DD · naive Merton
No market tape yet.
Pull a year of closes (Yahoo, Nasdaq if Yahoo is limited) and size equity from Nasdaq cap or EDGAR shares. Distance-to-default and 1-year PD stay blank until then.
Sector peers
Closest Z″ scores · 45th percentile in Communication.
KPI widgets
Current assets
$13.2B
Total assets
$100.1B
Current liabilities
$12.5B
Total liabilities
$62.9B
Working capital
$706M
Retained earnings
−$11.5B
EBIT
$738M
Total sales
$37.3B
Book equity
$35.9B
Accession 0001437107-26-000020. Live rank is the latest 10-K on EDGAR (FY2025, period 2025-12-31). Z″ is the live score. View as does not rewrite the live rank. X4 is book equity. Pulled 13 Sept 2026.