Warner Music Group Cash Flow Statement
NASDAQ: WMGConsumer DiscretionaryServices-Misc. Amusement & RecreationUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Warner Music Group free cash flow
In fiscal 2025, Warner Music Group generated $678.0 million of operating cash flow and spent $139.0 million on capital expenditures. That left free cash flow of $539.0 million, a free-cash-flow margin of 8.0% of revenue. Free cash flow was down 15.5% from the prior year's $638.0 million.
Warner Music Group returned $399.0 million to shareholders: $383.0 million in dividends and $16.0 million in share repurchases, equal to 74% of free cash flow. Free cash flow covered dividend payments 1.4 times.
Summary generated from market data by MetaCap's automated system. Methodology
Warner Music Group cash flow statement (annual)
| Fiscal year (USD) | FY 20252025-09-30 | FY 20242024-09-30 | FY 20232023-09-30 | FY 20222022-09-30 | FY 20212021-09-30 | FY 20202020-09-30 | FY 20192019-09-30 | FY 20182018-09-30 | FY 20172017-09-30 | FY 20162016-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | 365.00M | 435.00M | 430.00M | 551.00M | 304.00M | -475.00M | 256.00M | 307.00M | 143.00M | 25.00M |
| Net Income growth (YoY) | -16.09% | +1.16% | -21.96% | +81.25% | — | -285.55% | -16.61% | +114.69% | +472.00% | — |
| Depreciation & Amortization | 376.00M | 327.00M | 332.00M | 339.00M | 306.00M | 261.00M | 269.00M | 261.00M | 251.00M | 293.00M |
| Stock-Based Compensation | 54.00M | 52.00M | 49.00M | 39.00M | 45.00M | 608.00M | 50.00M | 62.00M | 70.00M | 23.00M |
| Change in Working Capital | -60.00M | -127.00M | -106.00M | -152.00M | 61.00M | 98.00M | -88.00M | 32.00M | 11.00M | 5.00M |
| Operating Cash Flow | 678.00M | 754.00M | 687.00M | 742.00M | 638.00M | 463.00M | 400.00M | 425.00M | 535.00M | 342.00M |
| Capital Expenditures | -139.00M | -116.00M | -127.00M | -135.00M | -93.00M | -85.00M | -104.00M | -74.00M | -44.00M | -42.00M |
| Investing Cash Flow | -340.00M | -311.00M | -300.00M | -824.00M | -638.00M | -219.00M | -376.00M | 405.00M | -126.00M | -8.00M |
| Dividends Paid | -383.00M | -361.00M | -340.00M | -318.00M | -265.00M | -344.00M | -94.00M | -925.00M | -84.00M | — |
| Share Repurchases | -16.00M | 0 | 0 | — | — | — | — | — | — | — |
| Debt Issued | — | — | — | — | — | — | — | 320.00M | 22.00M | — |
| Debt Repaid | — | — | — | — | — | 0 | 0 | -635.00M | — | -309.00M |
| Financing Cash Flow | -497.00M | -396.00M | -325.00M | 188.00M | -61.00M | -316.00M | 88.00M | -955.00M | -128.00M | -216.00M |
| Net Change in Cash | -162.00M | 53.00M | 57.00M | 85.00M | -54.00M | -66.00M | 105.00M | -133.00M | 288.00M | 113.00M |
| Free Cash Flow | 539.00M | 638.00M | 560.00M | 607.00M | 545.00M | 378.00M | 296.00M | 351.00M | 491.00M | 300.00M |
This table shows 10 annual periods of Warner Music Group's cash flow statement, from FY 2025 back to FY 2016, across 14 line items including net income, depreciation & amortization, stock-based compensation. Values in USD; B = billions, M = millions. Fiscal periods follow WMG's reporting calendar. What is a cash flow statement?