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WBD (Warner Bros. Discovery) Cyclically Adjusted Price-to-FCF : 3.49 (As of Jul. 10, 2025)


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What is Warner Bros. Discovery Cyclically Adjusted Price-to-FCF?

As of today (2025-07-10), Warner Bros. Discovery's current share price is $11.595. Warner Bros. Discovery's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2025 was $3.32. Warner Bros. Discovery's Cyclically Adjusted Price-to-FCF for today is 3.49.

The historical rank and industry rank for Warner Bros. Discovery's Cyclically Adjusted Price-to-FCF or its related term are showing as below:

WBD' s Cyclically Adjusted Price-to-FCF Range Over the Past 10 Years
Min: 2.14   Med: 12.11   Max: 37.43
Current: 3.46

During the past years, Warner Bros. Discovery's highest Cyclically Adjusted Price-to-FCF was 37.43. The lowest was 2.14. And the median was 12.11.

WBD's Cyclically Adjusted Price-to-FCF is ranked better than
85.24% of 359 companies
in the Media - Diversified industry
Industry Median: 15.79 vs WBD: 3.46

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted free cash flow per share of a company over the past 10 years.

Warner Bros. Discovery's adjusted free cash flow per share data for the three months ended in Mar. 2025 was $0.123. Add all the adjusted free cash flow per share for the past 10 years together and divide 10 will get our Cyclically Adjusted FCF per Share, which is $3.32 for the trailing ten years ended in Mar. 2025.

Shiller PE for Stocks: The True Measure of Stock Valuation


Warner Bros. Discovery Cyclically Adjusted Price-to-FCF Historical Data

The historical data trend for Warner Bros. Discovery's Cyclically Adjusted Price-to-FCF can be seen below:

* 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.

* Premium members only.

Warner Bros. Discovery Cyclically Adjusted Price-to-FCF Chart

Warner Bros. Discovery Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Cyclically Adjusted Price-to-FCF
Get a 7-Day Free Trial Premium Member Only Premium Member Only 12.06 8.16 3.07 3.52 3.23

Warner Bros. Discovery Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
Cyclically Adjusted Price-to-FCF Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.67 2.26 2.54 3.23 3.23

Competitive Comparison of Warner Bros. Discovery's Cyclically Adjusted Price-to-FCF

For the Entertainment subindustry, Warner Bros. Discovery's Cyclically Adjusted Price-to-FCF, along with its competitors' market caps and Cyclically Adjusted Price-to-FCF 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's Cyclically Adjusted Price-to-FCF Distribution in the Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, Warner Bros. Discovery's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

* The bar in red indicates where Warner Bros. Discovery's Cyclically Adjusted Price-to-FCF falls into.


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Warner Bros. Discovery Cyclically Adjusted Price-to-FCF Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted Price-to-FCF takes the Free Cash Flow per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/FCF calculation. Because it considers this 10-year average, it's often referred to as the CAPFCF Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Price-to-FCF.

Warner Bros. Discovery's Cyclically Adjusted Price-to-FCF for today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/ Cyclically Adjusted FCF per Share
=11.595/3.32
=3.49

* 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.

Warner Bros. Discovery's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2025 is calculated as:

For example, Warner Bros. Discovery's adjusted Free Cash Flow per Share data for the three months ended in Mar. 2025 was:

Adj_FreeCashFlowPerShare=Free Cash Flow per Share/CPI of Mar. 2025 (Change)*Current CPI (Mar. 2025)
=0.123/134.9266*134.9266
=0.123

Current CPI (Mar. 2025) = 134.9266.

Warner Bros. Discovery Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201506 0.478 100.684 0.641
201509 0.358 100.392 0.481
201512 0.946 99.792 1.279
201603 0.075 100.470 0.101
201606 0.487 101.688 0.646
201609 0.694 101.861 0.919
201612 0.886 101.863 1.174
201703 0.354 102.862 0.464
201706 0.272 103.349 0.355
201709 1.224 104.136 1.586
201712 0.766 104.011 0.994
201803 0.184 105.290 0.236
201806 0.733 106.317 0.930
201809 1.272 106.507 1.611
201812 1.242 105.998 1.581
201903 0.697 107.251 0.877
201906 0.832 108.070 1.039
201909 1.240 108.329 1.544
201912 1.613 108.420 2.007
202003 0.336 108.902 0.416
202006 1.304 108.767 1.618
202009 1.171 109.815 1.439
202012 0.509 109.897 0.625
202103 0.268 111.754 0.324
202106 1.140 114.631 1.342
202109 1.063 115.734 1.239
202112 1.186 117.630 1.360
202203 0.358 121.301 0.398
202206 0.345 125.017 0.372
202209 -0.079 125.227 -0.085
202212 1.019 125.222 1.098
202303 -0.382 127.348 -0.405
202306 0.707 128.729 0.741
202309 0.845 129.860 0.878
202312 1.359 129.419 1.417
202403 0.160 131.776 0.164
202406 0.398 132.554 0.405
202409 0.256 133.029 0.260
202412 0.990 133.157 1.003
202503 0.123 134.927 0.123

Add all the adjusted free cash flow per share together and divide 10 will get our Cyclically Adjusted FCF per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.


Warner Bros. Discovery  (NAS:WBD) Cyclically Adjusted Price-to-FCF Explanation

Compared with the regular Price-to-Free-Cash-Flow, which works poorly for cyclical businesses, the Cyclically Adjusted Price-to-FCF smoothed out the fluctuations of free cash flow during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted Price-to-FCF should give similar results to regular Price-to-Free-Cash-Flow.


Warner Bros. Discovery Cyclically Adjusted Price-to-FCF Related Terms

Thank you for viewing the detailed overview of Warner Bros. Discovery's Cyclically Adjusted Price-to-FCF provided by GuruFocus.com. Please click on the following links to see related term pages.


Warner Bros. Discovery Business Description

Address
230 Park Avenue South, New York, NY, USA, 10003
Warner Bros. Discovery was formed in 2022 through the combination of WarnerMedia and Discovery Communications. It operates in three global business segments: studios, networks, and direct-to-consumer. Warner Bros. Pictures is the crown jewel of the studios business, producing, distributing, and licensing movies and television shows. The networks business consists of basic cable networks, such as CNN, TNT, TBS, Discovery, HGTV, and the Food Network. Direct-to-consumer includes HBO and the firm's streaming platforms, which have now been consolidated to Max and Discovery+. Much of the DTC content is created within the firm's other two business segments. Each segment operates with a global reach, with Max available in over 70 countries.
Executives
Di Piazza Samuel A Jr. director 100 BROOKWOOD PLACE, BIRMINGHAM AL 35209
David Zaslav director, officer: Chief Executive Officer & Pres C/O WARNER BROS. DISCOVERY, INC., 230 PARK AVENUE SOUTH, NEW YORK NY 10003
Savalle Sims officer: General Counsel C/O WARNER BROS. DISCOVERY, INC., 230 PARK AVENUE SOUTH, NEW YORK NY 10003
Gerhard Zeiler officer: President, International C/O WARNER BROS. DISCOVERY, INC., 230 PARK AVENUE SOUTH, NEW YORK NY 10003
Advance/newhouse Partnership director 5015 CAMPUSWOOD DR., EAST SYRACUSE NY 13057
Steven O Newhouse director 6350 COURT STREET, EAST SYRACUSE NY 13057-1211
Advance/newhouse Programming Partnership director, 10 percent owner 5000 CAMPUSWOOD DRIVE, E. SYRACUSE NY 13057
Gunnar Wiedenfels officer: Chief Financial Officer C/O WARNER BROS. DISCOVERY, INC., 230 PARK AVENUE SOUTH, NEW YORK NY 10003
Fazal F Merchant director 2230 E. IMPERIAL HIGHWAY, EL SEGUNDO CA 90245
Geoffrey Y Yang director 3000 SAND HILL ROAD, 2-290, MENLO PARK CA 94025
Paul A Gould director 711 FIFTH AVENUE, 9TH FLOOR, NEW YORK NY 10022
Robert R Bennett director 12300 LIBERTY BLVD, ENGLEWOOD CO 80112
David Leavy officer: Chief Communications Officer C/O WARNER BROS. DISCOVERY, INC., 230 PARK AVENUE SOUTH, NEW YORK NY 10003
Li Haslett Chen director C/O WARNER BROS. DISCOVERY, INC., 230 PARK AVENUE SOUTH, NEW YORK NY 10003
Debra L Lee director C/O BLACK ENTERTAINMENT, 1 BET PLZ. 1900W PLACE N.W., WASHINGTON DC 20018