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This stock no longer trades (delisted April 11, 2022)

Delisted / no longer publicly traded (per market data provider) Everything below is based on the last available data — treat it as historical, not a live read.

Stock

Warner Bros. Discovery

DISCA
21
Broadcasting · Communication Services
Price
$24.43
+1.36 (+5.90%)
Exchange
NASDAQ Global Select
Winston Score
21
Historical score — this stock no longer trades, so the score is frozen at the last available data.
Data as of Oct 18, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Mixed
9/30
Growth
Weak
3/20
Cash Flow
Weak
2/10
Stability
Mixed
3/10
Valuation
Data not available
0/10
Ownership
Not counted
n/a
Dividends
Not counted
n/a

17 of 80 counted points = Winston Score 21. Pillars marked n/a do not apply to this company and are left out of the total.

Share count rising — dilution

+278.7% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 668.0M (2021) → 2.53B (2025)

§Winston Score History

The full picture

Warner Bros. Discovery is a major media and entertainment company formed from the 2022 merger of Discovery, Inc. and WarnerMedia. It owns well-known TV networks like CNN, HGTV, Food Network, and TNT, as well as the Warner Bros. film and TV studio. The company also runs the Max streaming service, competing with Netflix, Disney+, and others for viewers' attention.

The company makes money through advertising on its TV channels, subscription fees from Max and cable networks, and box office revenue from theatrical films. It operates globally, with a large presence in the US, Europe, and Latin America. Warner Bros. Discovery carries significant debt from the merger, and its key challenge is growing its streaming subscriber base while managing that debt load and navigating the ongoing decline in traditional cable TV viewership.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-11.2% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-90.6% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (12%)

Research and development spending

Cash Position

Cash flow positive

$3.4B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

Warner Bros. Discovery's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
47.0%
Healthy — 47.0% gross margin
Profit after running costs
Operating Margin
2.7%
Thin — 2.7% operating margin
Return on the money invested
ROCE
3.0%
Weak — 3.0% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth
Sales YoY
-6.1%
Shrinking sales (-6.1% YoY)
Profit growth
EPS YoY
-496.9%
Earnings shrinking (-496.9% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is
EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
6.0%
Modest free cash flow (6.0%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns
Debt / Equity
0.98
Moderate — manageable debt (0.98)
Covers its interest
Interest Cover
0.86x
Dangerous — barely covers interest (0.9x)

Interest coverage below 1. Their profits don't cover the interest bill.

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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