Stock Analysis on Net

Warner Bros. Discovery Inc. (NASDAQ:WBD)

This company has been moved to the archive! The financial data has not been updated since November 4, 2022.

Analysis of Long-term (Investment) Activity Ratios 

Microsoft Excel

Long-term Activity Ratios (Summary)

Warner Bros. Discovery Inc., long-term (investment) activity ratios

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Net fixed asset turnover 9.13 8.85 11.72 13.19 11.51
Net fixed asset turnover (including operating lease, right-of-use asset) 6.52 5.99 7.13 13.19 11.51
Total asset turnover 0.35 0.31 0.33 0.32 0.30
Equity turnover 1.05 1.02 1.13 1.26 1.49

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Warner Bros. Discovery Inc. net fixed asset turnover ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Warner Bros. Discovery Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Warner Bros. Discovery Inc. total asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Warner Bros. Discovery Inc. equity turnover ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021.

Net Fixed Asset Turnover

Warner Bros. Discovery Inc., net fixed asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Revenues 12,191 10,671 11,144 10,553 6,873
Property and equipment, net 1,336 1,206 951 800 597
Long-term Activity Ratio
Net fixed asset turnover1 9.13 8.85 11.72 13.19 11.51
Benchmarks
Net Fixed Asset Turnover, Competitors2
Alphabet Inc. 2.64 2.15 2.20
Comcast Corp. 2.15 1.99 2.25
Meta Platforms Inc. 2.04 1.88 2.00
Netflix Inc. 22.44 26.03 35.66
Walt Disney Co. 2.05 2.02 2.19
Net Fixed Asset Turnover, Sector
Media & Entertainment 2.42 2.14 2.27
Net Fixed Asset Turnover, Industry
Communication Services 1.90 1.72 1.81

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Net fixed asset turnover = Revenues ÷ Property and equipment, net
= 12,191 ÷ 1,336 = 9.13

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Warner Bros. Discovery Inc. net fixed asset turnover ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Warner Bros. Discovery Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Revenues 12,191 10,671 11,144 10,553 6,873
 
Property and equipment, net 1,336 1,206 951 800 597
Operating lease right-of-use assets (included in Other noncurrent assets) 535 575 613
Property and equipment, net (including operating lease, right-of-use asset) 1,871 1,781 1,564 800 597
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 6.52 5.99 7.13 13.19 11.51
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Alphabet Inc. 2.33 1.88 1.91
Comcast Corp. 1.92 1.86 2.08
Meta Platforms Inc. 1.69 1.56 1.58
Netflix Inc. 7.88 8.34 9.61
Walt Disney Co. 1.83 1.81 2.19
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Media & Entertainment 2.09 1.87 2.00
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Communication Services 1.54 1.41 1.52

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenues ÷ Property and equipment, net (including operating lease, right-of-use asset)
= 12,191 ÷ 1,871 = 6.52

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Warner Bros. Discovery Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021.

Total Asset Turnover

Warner Bros. Discovery Inc., total asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Revenues 12,191 10,671 11,144 10,553 6,873
Total assets 34,427 34,087 33,735 32,550 22,555
Long-term Activity Ratio
Total asset turnover1 0.35 0.31 0.33 0.32 0.30
Benchmarks
Total Asset Turnover, Competitors2
Alphabet Inc. 0.72 0.57 0.59
Comcast Corp. 0.42 0.38 0.41
Meta Platforms Inc. 0.71 0.54 0.53
Netflix Inc. 0.67 0.64 0.59
Walt Disney Co. 0.33 0.32 0.36
Total Asset Turnover, Sector
Media & Entertainment 0.56 0.47 0.48
Total Asset Turnover, Industry
Communication Services 0.45 0.41 0.43

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Total asset turnover = Revenues ÷ Total assets
= 12,191 ÷ 34,427 = 0.35

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Warner Bros. Discovery Inc. total asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Equity Turnover

Warner Bros. Discovery Inc., equity turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Revenues 12,191 10,671 11,144 10,553 6,873
Total Discovery, Inc. stockholders’ equity 11,599 10,464 9,891 8,386 4,610
Long-term Activity Ratio
Equity turnover1 1.05 1.02 1.13 1.26 1.49
Benchmarks
Equity Turnover, Competitors2
Alphabet Inc. 1.02 0.82 0.80
Comcast Corp. 1.21 1.15 1.32
Meta Platforms Inc. 0.94 0.67 0.70
Netflix Inc. 1.87 2.26 2.66
Walt Disney Co. 0.76 0.78 0.78
Equity Turnover, Sector
Media & Entertainment 1.02 0.86 0.90
Equity Turnover, Industry
Communication Services 1.09 1.00 1.04

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Equity turnover = Revenues ÷ Total Discovery, Inc. stockholders’ equity
= 12,191 ÷ 11,599 = 1.05

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Warner Bros. Discovery Inc. equity turnover ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021.