Beta is the sensitivity of the expected excess asset returns to the expected excess market returns. As of today (2026-06-27), Warner Bros. Discovery's Beta is 0.6683.
Warner Bros. Discovery (HAM:J5A) Beta Explanation
Beta is a measure of the volatility, or systematic risk, of a security or a portfolio in comparison to the market as a whole. We usually compare beta to 1. A beta of 1 indicates that the security's price will move with the market. A beta of less than 1 means that the security will be less volatile than the market. A beta of greater than 1 indicates that the security's price will be more volatile than the market.
Beta is primarily used in the Capital Asset Pricing Model (CAPM) to calculate the Cost of Equity, which can be used in the calculation of WACC %. The formula of Cost of Equity is:
Cost of Equity = Risk-Free Rate of Return + Beta of Asset * (Expected Return of the Market - Risk-Free Rate of Return)
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Entertainment subindustry, Warner Bros. Discovery's Beta, along with its competitors' market caps and Beta data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Warner Bros. Discovery Beta vs Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Warner Bros. Discovery's Beta distribution charts can be found below:
* The bar in red indicates where Warner Bros. Discovery's Beta falls into.
Beta is the sensitivity of the expected excess asset returns to the expected excess market returns. A stock's beta can be calculated by dividing the product of the covariance of the individual stock's returns and the market's returns by the variance of the market's returns over a specified period. Basically, GuruFocus uses the returns calculated over three-year period.
Warner Bros. Discovery (HAM:J5A) has a Beta of 0.6683 as of Jun. 27, 2026. Beta is the sensitivity of the expected excess asset returns to the expected excess market returns. View historical data for Warner Bros. Discovery and its competitors.
Is Warner Bros. Discovery's Beta too high?
Warner Bros. Discovery's current Beta is 0.6683. Overall, Warner Bros. Discovery has a GF Score™ of 60/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Warner Bros. Discovery's Beta compare to LYV and FOXA?
Warner Bros. Discovery's Beta of 0.6683 can be compared against companies in the Media - Diversified industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beta for a Media - Diversified company?
A good Beta depends on the Media - Diversified industry context. However, Beta should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beta mean?
A high Beta can signal that a stock is expensive relative to its fundamentals. Beta is the sensitivity of the expected excess asset returns to the expected excess market returns. View historical data for Warner Bros. Discovery and its competitors. Warner Bros. Discovery's current Beta is 0.6683. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Warner Bros. Discovery stock overvalued right now?
Based on GuruFocus' analysis, Warner Bros. Discovery (HAM:J5A) is currently considered Significantly Overvalued. The stock's GF Value™ is €8.58, compared to a current price of €23.56 — trading 174.5% above its estimated fair value. The current Beta is 0.6683. Warner Bros. Discovery's overall GF Score™ is 60/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beta calculated?
Beta is calculated from a company's financial statements. For Warner Bros. Discovery (HAM:J5A), the current Beta is 0.6683 as of Jun. 27, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Warner Bros. Discovery (HAM:J5A) Overvalued in 2026?
Based on GuruFocus' analysis, Warner Bros. Discovery stock appears to be overvalued.
The current stock price of €23.56 is trading 174.5% above its estimated GF Value™ of €8.58.
GuruFocus considers Warner Bros. Discovery to be Significantly Overvalued.
Key valuation signals for HAM:J5A:
Beta: 0.6683
GF Value™: €8.58 vs. price of €23.56 (174.5% above fair value)
No single metric tells the full story. See the HAM:J5A stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Warner Bros. Discovery operates in three segments: streaming, studios, and linear networks. The streaming business includes HBO Max, which is rapidly increasing its international footprint in addition to its major presence in the US. Studios include industry leaders in both film and television, which produce movies and television series that are monetized in multiple ways, including theatrical release, sales to third parties, and feeding into Warner's own platforms. Global networks consist of basic cable networks like CNN, TNT, TBS, Discovery, HGTV, and The Food Network. The Discovery+ streaming service will remain part of global networks.
60GF Score
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