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Ken GriffinReduced
Citadel Advisors · Q2 2026
$25.18M
930.13K shares · 0.0% of portfolio
Warner Music Group Corp.
Warner Music Group Corp. (WMG) is listed on NASDAQ and classified in Entertainment, part of the Communication Services sector. It is headquartered in New York, United States and has 5,500 employees. The company is worth $16.58B and trades at 25.4x its earnings of the last twelve months; the median for its sector is 16.1x. Revenue was $6.71B in fiscal 2025, up 4.4% from the year before. Net income was $365M. The share price is 10.5% below its 52-week high of $35.42. It pays a dividend yielding 2.52%. 5 of the 38 superinvestors we track held it at the end of Q2 2026. The largest position belongs to Cliff Asness (AQR Capital Management), at $64.53M. In that quarter, 5 of them reduced the position. No open-market insider trades in it were filed over the last 30 days.
Written from the data on this page: SEC filings (13F, Form 4, annual reports) and market prices.
Year by year, from the annual reports; dividends from the payments themselves.
Bars are year-end balances; lines are what happened during the year.
Major managers that reported this stock in their latest 13F.
▼ -27.5% over 5Y.
today you would have $709.00▼ -29.1%
Dividends reinvested, splits accounted for. Past prices say what happened, not what will.
The last 4 closed years, each at that year’s closing price and reported numbers.
| Indicator | Median | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Year-end price | $30.67 | $31.00 | $35.79 | $35.02 | |
| P/E | 40.5x | 44.4x | 37.3x | 43.6x | 33.0x |
| P/S | 2.8x | 2.4x | 2.5x | 3.1x | 3.0x |
| P/B | 45.6x | 24.8x | 31.0x | 60.2x | 118.6x |
| EPS | $0.69 | $0.83 | $0.82 |
Seven formulas applied to the reported numbers, each with its assumption next to the result. None of them predicts a price.
Square root of 22.5 × earnings × book value. Blind to intangibles, so it undervalues software and brands.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
Median P/E of 16.1 among peers in the sector.
Median P/E of 40.5 across this company’s own years on record.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
Sector median of 10.4x operating profit, less net debt. Banks have no EBITDA.
Companies of similar size in Communication Services, for comparison. The columns are the same ones above, in the same order.
| Stock | Price | P/E | P/B | Dividend yield | ROE | Market cap |
|---|---|---|---|---|---|---|
| NWSANews Corp | $31.08 | 30.2x | 2.0x | 0.64% | 7.98% | $16.74B |
| RCIRogers Communications Inc | $33.20 | 3.9x | 1.5x | 4.25% | 30.92% | $17.94B |
| NWSNews Corp | $33.95 | 33.0x | 2.2x | 0.59% | 7.98% | $18.29B |
| CHTRCharter Communications Inc | $111.77 |
| $1.06 |
| Dividend yield | 2.05% | 2.41% | 2.26% | 1.84% | 1.77% |
| Payout | 82.41% | 107.25% | 84.34% | 80.49% | 58.49% |
| Profit margin | 6.95% | 5.44% | 6.77% | 7.12% | 9.31% |
| ROE | 112.02% | 56.41% | 83.98% | 140.07% | 362.50% |
Median of the years shown; P/E years above 200x are left out.
Dividend growing 8.0% a year against a 11.0% required return, from the stock’s beta.
The average of the method families that answered, not of the seven numbers: four of the seven start from the same earnings per share.
5 methods answered, across 3 families.
Room for errors in the reported numbers.
-31.3% from the average.
Models, not forecasts, and not investment advice. How each formula works →
| 2.9x |
| 0.8x |
| 0.00% |
| 27.20% |
| $14.53B |
| BCEBCE Inc | $20.81 | 4.3x | 1.3x | 5.91% | 30.47% | $19.41B |
| TMETencent Music Entertainment Group | $8.60 | 10.5x | 1.2x | 2.79% | 10.97% | $14.02B |