Warner Music Group (WMG)
Gross profit margin
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 668,000 | 681,000 | 619,000 | 641,000 | 643,000 | 723,000 | 812,000 | 691,000 | 695,000 | 680,000 | 601,000 | 595,000 | 12,000 | -188,000 | -229,000 | -298,000 | 193,000 | 364,000 | 356,000 | 343,000 |
| Revenue (ttm) | US$ in thousands | 6,217,000 | 6,116,000 | 5,907,000 | 5,889,000 | 5,802,000 | 5,817,000 | 6,017,000 | 5,838,000 | 5,734,000 | 5,608,000 | 5,293,000 | 5,039,000 | 4,721,000 | 4,542,000 | 4,463,000 | 4,461,000 | 4,509,000 | 4,528,000 | 4,475,000 | 4,390,000 |
| Gross profit margin | 10.74% | 11.13% | 10.48% | 10.88% | 11.08% | 12.43% | 13.50% | 11.84% | 12.12% | 12.13% | 11.35% | 11.81% | 0.25% | -4.14% | -5.13% | -6.68% | 4.28% | 8.04% | 7.96% | 7.81% |
March 31, 2024 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $668,000K ÷ $6,217,000K
= 10.74%
Warner Music Group's gross profit margin has shown fluctuations over the past few quarters. The trend indicates a general decline in the margin, with a peak in September 2022 at 13.50%, followed by a gradual decrease to 10.74% in March 2024. This suggests that the company's cost of goods sold relative to its revenue has been increasing or that its pricing strategy may be impacting profitability. It is essential for Warner Music Group to closely monitor its cost structure and pricing policies to maintain a sustainable gross profit margin going forward.
Peer comparison
Mar 31, 2024
Company name
Symbol
Gross profit margin
Warner Music Group
WMG
10.74%
Live Nation Entertainment Inc
LYV
5.67%
Six Flags Entertainment Corporation
FUN
55.72%