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Retained earnings is the accumulated portion of net income that is not distributed to shareholders. Warner Music Group's retained earnings for the quarter that ended in Mar. 2026 was €-1,014 Mil.
Warner Music Group's quarterly retained earnings
increased
from Sep. 2025 (€-1,134 Mil) to Dec. 2025 (€-1,072 Mil) and
increased
from Dec. 2025 (€-1,072 Mil) to Mar. 2026 (€-1,014 Mil).
Warner Music Group's annual retained earnings
increased
from Sep. 2023 (€-1,300 Mil) to Sep. 2024 (€-1,183 Mil) and
increased
from Sep. 2024 (€-1,183 Mil) to Sep. 2025 (€-1,134 Mil).
Warner Music Group (FRA:WA4) Retained Earnings Explanation
Historically profitable companies sometimes have negative retained earnings. This is because they have cumulatively paid out more to shareholders than they reported in profits.
For example, in 2011, Microsoft had negative retained earnings. This does not mean the company lost more money than it made over the years. It just means it paid out more money than it earned.
If a company has negative retained earnings, investors should check the 10-year financial results. They should not assume that negative retained earnings prove a company has generally lost money in the past.
Of course, many companies with negative retained earnings have indeed lost money in the past.
Retained Earnings: Warren Buffett's Secret.
One of the most important indicators of durable competitive advantage. Net earnings can be paid out as dividends, used to buy back shares or retained for growth.
If the company loses more than it has accumulated, retained earnings is negative.
If a company isn't adding to its retained earnings, it isn't growing its net worth.
Rate of growth of retained earnings is good indicator whether it's benefiting from a competitive advantage.
Microsoft is negative because it chose to buyback stock and pay dividends.
The more earnings retained, the faster it grows and increases growth rate for future earnings.
Warner Music Group Retained Earnings Historical Data
* Premium members only.
The historical data trend for Warner Music Group's Retained Earnings 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.
Retained Earnings is the accumulated portion of net income that is not distributed to shareholders. Because the net income was not distributed to shareholders, shareholders' equity is increased by the same amount.
Of course, if a company loses, it is called retained losses, or accumulated losses.
What does a Retained Earnings of €-1,014 Mil mean?
Warner Music Group (FRA:WA4) has a Retained Earnings of €-1,014 Mil as of Mar. 2026. Retained earnings is the amount of net income not issued to shareholders. View historical data on Warner Music Group and its competitors.
Is Warner Music Group's Retained Earnings too high?
Warner Music Group's current Retained Earnings is €-1,014 Mil. Overall, Warner Music Group has a GF Score™ of 79/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Warner Music Group's Retained Earnings compare to NWSA and TKO?
Warner Music Group's Retained Earnings of €-1,014 Mil 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 Retained Earnings for a Media - Diversified company?
A good Retained Earnings depends on the Media - Diversified industry context. However, Retained Earnings 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 Retained Earnings mean?
A high Retained Earnings can signal that a stock is expensive relative to its fundamentals. Retained earnings is the amount of net income not issued to shareholders. View historical data on Warner Music Group and its competitors. Warner Music Group's current Retained Earnings is €-1,014 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Warner Music Group stock overvalued right now?
Based on GuruFocus' analysis, Warner Music Group (FRA:WA4) is currently considered Modestly Undervalued. The stock's GF Value™ is €30.71, compared to a current price of €23.24 — trading 24.3% below its estimated fair value. The current Retained Earnings is €-1,014 Mil. Warner Music Group's overall GF Score™ is 79/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Retained Earnings calculated?
Retained Earnings is calculated from a company's financial statements. For Warner Music Group (FRA:WA4), the current Retained Earnings is €-1,014 Mil as of Mar. 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 Music Group (FRA:WA4) Overvalued in 2026?
Based on GuruFocus' analysis, Warner Music Group stock appears to be undervalued.
The current stock price of €23.24 is trading 24.3% below its estimated GF Value™ of €30.71.
GuruFocus considers Warner Music Group to be Modestly Undervalued.
Key valuation signals for FRA:WA4:
Retained Earnings: €-1,014 Mil
GF Value™: €30.71 vs. price of €23.24 (24.3% below fair value)
No single metric tells the full story. See the FRA:WA4 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Warner Music is the third-largest of the three major record companies. Recorded music accounts for most of the firm's revenue, with the segment housing notable record labels including Atlantic Records, Warner Records, Elektra Records. Some of the most successful current artists signed to record deals with Warner include Ed Sheeran, Bruno Mars, Cardi B, and Dua Lipa. Warner's remaining revenue comes from its publishing business, where Warner Chappell represents more than 180,000 songwriters and composers, some of whom are also Warner recording artists but many of whom are not recording artists or are attached to other labels. Warner Chappell controls more than 1 million musical compositions. Access Industries controls 98% of Warner's voting rights, while holding a 72% economic interest.
79GF Score
Get the complete analysis for FRA:WA4
Retained Earnings is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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