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Comcast vs Warner Bros. Discovery: revenue, profit, margins and growth compared

Comcast brought in $123.7B of revenue in fiscal 2025, Warner Bros. Discovery $37.3B in fiscal 2025. Revenue changed by -0.0% at Comcast and -5.1% at Warner Bros. Discovery on the year before, so Comcast grew faster. Comcast kept 16.2% of its revenue as net profit, Warner Bros. Discovery 1.9%. Free cash flow was $21.9B at Comcast and $3.1B at Warner Bros. Discovery.

Side by side, latest fiscal year

CCZWBD
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$123.7B$37.3B
Revenue growth-0.0%-5.1%
Net income$20B$727M
Net margin16.2%1.9%
Free cash flow$21.9B$3.1B
Free cash flow margin17.7%8.3%
Earnings per share (diluted)$5.39$0.29
Cash$9.5B$4.6B
Debt$98.9B$32.6B
Price to earnings12.0106.4
Market value$229.5B$77.5B
Dividend yield2.04%n/a
Rank by revenue in sector#3 of 51 · Telecommunications#7 of 51 · Telecommunications

Over the years

Revenue
CCZ FY2018: $94.5BCCZ FY2019: $108.9BCCZ FY2020: $103.6BCCZ FY2021: $116.4BCCZ FY2022: $121.4BCCZ FY2023: $121.6BCCZ FY2024: $123.7BCCZ FY2025: $123.7BWBD FY2018: $10.6BWBD FY2019: $11.1BWBD FY2020: $10.7BWBD FY2021: $12.2BWBD FY2022: $33.8BWBD FY2023: $41.3BWBD FY2024: $39.3BWBD FY2025: $37.3BFY18FY19FY20FY21FY22FY23FY24FY25
CCZ $123.7BWBD $37.3B
Net income
CCZ FY2018: $11.7BCCZ FY2019: $13.1BCCZ FY2020: $10.5BCCZ FY2021: $14.2BCCZ FY2022: $5.4BCCZ FY2023: $15.4BCCZ FY2024: $16.2BCCZ FY2025: $20BWBD FY2018: $594MWBD FY2019: $2.1BWBD FY2020: $1.2BWBD FY2021: $1BWBD FY2022: -$7.4BWBD FY2023: -$3.1BWBD FY2024: -$11.3BWBD FY2025: $727MFY18FY19FY20FY21FY22FY23FY24FY25
CCZ $20BWBD $727M
Net margin
CCZ FY2018: 12.4%CCZ FY2019: 12.0%CCZ FY2020: 10.2%CCZ FY2021: 12.2%CCZ FY2022: 4.4%CCZ FY2023: 12.7%CCZ FY2024: 13.1%CCZ FY2025: 16.2%WBD FY2018: 5.6%WBD FY2019: 18.6%WBD FY2020: 11.4%WBD FY2021: 8.3%WBD FY2022: -21.8%WBD FY2023: -7.6%WBD FY2024: -28.8%WBD FY2025: 1.9%FY18FY19FY20FY21FY22FY23FY24FY25
CCZ 16.2%WBD 1.9%
Revenue growth
CCZ FY2019: +15.3%CCZ FY2020: -4.9%CCZ FY2021: +12.4%CCZ FY2022: +4.3%CCZ FY2023: +0.1%CCZ FY2024: +1.8%CCZ FY2025: -0.0%WBD FY2019: +5.6%WBD FY2020: -4.2%WBD FY2021: +14.2%WBD FY2022: +177.4%WBD FY2023: +22.2%WBD FY2024: -4.8%WBD FY2025: -5.1%FY19FY20FY21FY22FY23FY24FY25
CCZ -0.0%WBD -5.1%
Free cash flow
CCZ FY2018: $14.5BCCZ FY2019: $15.7BCCZ FY2020: $15.6BCCZ FY2021: $20BCCZ FY2022: $15.8BCCZ FY2023: $16.3BCCZ FY2024: $15.5BCCZ FY2025: $21.9BWBD FY2018: $2.4BWBD FY2019: $3.1BWBD FY2020: $2.3BWBD FY2021: $2.4BWBD FY2022: $3.3BWBD FY2023: $6.2BWBD FY2024: $4.4BWBD FY2025: $3.1BFY18FY19FY20FY21FY22FY23FY24FY25
CCZ $21.9BWBD $3.1B

Fiscal years as each company reports them; the two may end in different months.

Questions about Comcast and Warner Bros. Discovery

Which is bigger by revenue, Comcast or Warner Bros. Discovery?

Comcast is bigger by revenue: $123.7B in fiscal 2025, against $37.3B for Warner Bros. Discovery in fiscal 2025.

Which keeps more of its revenue as profit, Comcast or Warner Bros. Discovery?

Comcast had a net margin of 16.2% in fiscal 2025; Warner Bros. Discovery had 1.9% in fiscal 2025.

Which grew revenue faster, Comcast or Warner Bros. Discovery?

In their latest fiscal years revenue changed by -0.0% at Comcast and -5.1% at Warner Bros. Discovery.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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