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Warner Music Group Corp. cash flow statement

In fiscal 2025, Warner Music Group Corp.'s operations generated $678m of cash; it spent $139m on capital projects, leaving free cash flow of $539m. It returned $383m in dividends and $16.0m through buybacks.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2010Sept 20102012Sept 20122013Sept 20132014Sept 20142015Sept 20152016Sept 20162017Sept 20172018Sept 20182019Sept 20192020Sept 20202021Sept 20212022Sept 20222023Sept 20232024Sept 20242025Sept 2025LTMJun 2026
Cash from operations150209159130222342535425400463638742687754678939
Depreciation and amortisation258244258321309293251261269261306339332327376267
Stock-based pay10—198323706250608453949525486
Capital spending51323476634244741048593135127116139103
Free cash flow9917712554159300491351296378545607560638539836
Free cash flow after stock pay89—10646156277421289246−230500568511586485750
Dividends paid——————8492594344265318340361383400
Share buybacks————————————001661

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Warner Music Group Corp.'s SEC filings (10-K and 10-Q), retrieved October 26, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Warner Music Group Corp.