Warner Bros. DiscoveryMIL:1WBD -1.48%29 Piotroski F-Score is 6 as of Jun. 28, 2026, which is at its 10-year median of 6.00. GuruFocus rates MIL:1WBD with a GF Score™ of 29/100 and a GF Value™ of €8.60 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 1,009 Media - Diversified companies, Warner Bros. Discovery ranks better than 78.69% on this metric.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Warner Bros. Discovery has an F-score of 6 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Warner Bros. Discovery's Piotroski F-Score or its related term are showing as below:
MIL:1WBD'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 6 Max: 8
Current: 6
During the past 13 years, the highest Piotroski F-Score of Warner Bros. Discovery was 8. The lowest was 3. And the median was 6.
Warner Bros. Discovery (MIL:1WBD) Piotroski F-Score Explanation
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
Warner Bros. Discovery Piotroski F-Score Related Terms
Warner Bros. Discovery Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Warner Bros. Discovery's Piotroski F-Score 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.
MIL:1WBD vs LYV, FOXA, FWONA: Piotroski F-Score Comparison
For the Entertainment subindustry, Warner Bros. Discovery's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score 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 Piotroski F-Score vs Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Warner Bros. Discovery's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Warner Bros. Discovery's Piotroski F-Score falls into.
* 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.
This Year (Mar26) TTM:
Last Year (Mar25) TTM:
Net Income was 1369.86 + -126.096 + -215.208 + -2522.34 = €-1,494 Mil. Cash Flow from Operations was 852.261 + 834.108 + 1540.616 + -179.92 = €3,047 Mil. Revenue was 8507.004 + 7706.34 + 8078.84 + 7692.445 = €31,985 Mil. Gross Profit was 3333.615 + 3817.812 + 3618.398 + 3676.25 = €14,446 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(94053.075 + 88197.309 + 85642.188 + 85472.59 + 84629.005) / 5 = €87598.8334 Mil. Total Assets at the begining of this year (Mar25) was €94,053 Mil. Long-Term Debt & Capital Lease Obligation was €26,792 Mil. Total Current Assets was €10,156 Mil. Total Current Liabilities was €13,939 Mil.
Net Income was -9276.994 + 121.635 + -471.77 + -419.025 = €-10,046 Mil.
Revenue was 9023.377 + 8670.323 + 9575.785 + 8305.575 = €35,575 Mil. Gross Profit was 3259.861 + 4002.242 + 4297.5 + 3559.4 = €15,119 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(110233.48 + 100358.941 + 95806.033 + 99854.8 + 94053.075) / 5 = €100061.2658 Mil. Total Assets at the begining of last year (Mar24) was €110,233 Mil. Long-Term Debt & Capital Lease Obligation was €32,048 Mil. Total Current Assets was €11,823 Mil. Total Current Liabilities was €14,140 Mil.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Warner Bros. Discovery's current Net Income (TTM) was -1,494.
==> Negative ==> Score 0.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Warner Bros. Discovery's current Cash Flow from Operations (TTM) was 3,047.
==> Positive ==> Score 1.
Question 3. Change in Return on Assets
Compare this year's return on assets (1) to last year's return on assets.
Warner Bros. Discovery's return on assets of this year was -0.01588235. Warner Bros. Discovery's return on assets of last year was -0.09113523.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Warner Bros. Discovery's gearing of this year was 0.30584477. Warner Bros. Discovery's gearing of last year was 0.32028852.
==> This year is lower or equal to last year. ==> Score 1.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
Warner Bros. Discovery's current ratio of this year was 0.72857586. Warner Bros. Discovery's current ratio of last year was 0.83618998.
==> Last year's current ratio is higher ==> Score 0.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
Warner Bros. Discovery's number of shares in issue this year was 2492. Warner Bros. Discovery's number of shares in issue last year was 2462.
==> There is larger number of shares in issue this year. ==> Score 0.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
Warner Bros. Discovery's gross margin of this year was 0.45165679. Warner Bros. Discovery's gross margin of last year was 0.42498883.
==> This year's gross margin is higher. ==> Score 1.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
Warner Bros. Discovery's asset turnover of this year was 0.34007. Warner Bros. Discovery's asset turnover of last year was 0.32272464.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Warner Bros. Discovery has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Warner Bros. Discovery (MIL:1WBD) has a Piotroski F-Score of 6 as of Jun. 28, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Warner Bros. Discovery and its competitors. This is near median its historical median of 6.00. Over the past decade, Warner Bros. Discovery's Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, Warner Bros. Discovery ranks #215 out of 1009 companies in the Media - Diversified industry, placing it in the top 21.3%.
Is Warner Bros. Discovery's Piotroski F-Score too high?
Warner Bros. Discovery's current Piotroski F-Score of 6 is near median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 8.00. The Media - Diversified industry median Piotroski F-Score is 5.00. Warner Bros. Discovery's value of 6 is 20% above this industry median. Based on the distribution chart, Warner Bros. Discovery ranks #215 out of 1009 companies in the Media - Diversified industry, which is in the top quartile — a strong position relative to peers. Overall, Warner Bros. Discovery has a GF Score™ of 29/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Warner Bros. Discovery's Piotroski F-Score compare to LYV and FOXA?
According to the Media - Diversified industry distribution chart, Warner Bros. Discovery ranks #215 out of 1009 companies for Piotroski F-Score. This places Warner Bros. Discovery in the top 21% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Warner Bros. Discovery's value of 6 is 20% above this benchmark. Historically, Warner Bros. Discovery's own Piotroski F-Score has ranged from 3.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Warner Bros. Discovery has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Media - Diversified company?
The median Piotroski F-Score among Media - Diversified companies is 5.00, based on 1,009 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Warner Bros. Discovery's current Piotroski F-Score of 6 is 20% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Warner Bros. Discovery and its competitors. For the Media - Diversified industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Warner Bros. Discovery's current Piotroski F-Score is 6, which is near median its own 10-year median of 6.00. 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 (MIL:1WBD) is currently considered Significantly Overvalued. The stock's GF Value™ is €8.60, compared to a current price of €23.60 — trading 174.4% above its estimated fair value. The current Piotroski F-Score is 6, which is near median its 10-year median of 6.00 and 20% above the Media - Diversified industry median of 5.00. Warner Bros. Discovery's overall GF Score™ is 29/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Warner Bros. Discovery (MIL:1WBD), the current Piotroski F-Score is 6 as of Jun. 28, 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 (MIL:1WBD) Overvalued in 2026?
Based on GuruFocus' analysis, Warner Bros. Discovery stock appears to be overvalued.
The current stock price of €23.60 is trading 174.4% above its estimated GF Value™ of €8.60.
GuruFocus considers Warner Bros. Discovery to be Significantly Overvalued.
Key valuation signals for MIL:1WBD:
Piotroski F-Score: 6 (near median its 10-year median of 6.00)
GF Value™: €8.60 vs. price of €23.60 (174.4% above fair value)
Industry Position: 20% above the Media - Diversified median (#215 of 1009)
No single metric tells the full story. See the MIL:1WBD 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.
29GF Score
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