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

Roku brought in $4.7B of revenue in fiscal 2025, Warner Bros. Discovery $37.3B in fiscal 2025. Revenue changed by +15.2% at Roku and -5.1% at Warner Bros. Discovery on the year before, so Roku grew faster. Roku kept 1.9% of its revenue as net profit, Warner Bros. Discovery 1.9%. Free cash flow was $478.4M at Roku and $3.1B at Warner Bros. Discovery.

Side by side, latest fiscal year

ROKUWBD
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$4.7B$37.3B
Revenue growth+15.2%-5.1%
Net income$88.4M$727M
Net margin1.9%1.9%
Free cash flow$478.4M$3.1B
Free cash flow margin10.1%8.3%
Earnings per share (diluted)$0.59$0.29
Cash$1.6B$4.6B
Debtn/a$32.6B
Price to earnings258.8106.4
Market value$22.7B$77.5B
Dividend yieldn/an/a
Rank by revenue in sector#13 of 51 · Telecommunications#7 of 51 · Telecommunications

Over the years

Revenue
ROKU FY2018: $742.5MROKU FY2019: $1.1BROKU FY2020: $1.8BROKU FY2021: $2.8BROKU FY2022: $3.1BROKU FY2023: $3.5BROKU FY2024: $4.1BROKU FY2025: $4.7BWBD FY2018: $10.6BWBD FY2019: $11.1BWBD FY2020: $10.7BWBD FY2021: $12.2BWBD FY2022: $33.8BWBD FY2023: $41.3BWBD FY2024: $39.3BWBD FY2025: $37.3BFY18FY19FY20FY21FY22FY23FY24FY25
ROKU $4.7BWBD $37.3B
Net income
ROKU FY2018: -$8.9MROKU FY2019: -$59.9MROKU FY2020: -$17.5MROKU FY2021: $242.4MROKU FY2022: -$498MROKU FY2023: -$709.6MROKU FY2024: -$129.4MROKU FY2025: $88.4MWBD FY2018: $594MWBD FY2019: $2.1BWBD FY2020: $1.2BWBD FY2021: $1BWBD FY2022: -$7.4BWBD FY2023: -$3.1BWBD FY2024: -$11.3BWBD FY2025: $727MFY18FY19FY20FY21FY22FY23FY24FY25
ROKU $88.4MWBD $727M
Net margin
ROKU FY2018: -1.2%ROKU FY2019: -5.3%ROKU FY2020: -1.0%ROKU FY2021: 8.8%ROKU FY2022: -15.9%ROKU FY2023: -20.4%ROKU FY2024: -3.1%ROKU FY2025: 1.9%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
ROKU 1.9%WBD 1.9%
Revenue growth
ROKU FY2019: +52.0%ROKU FY2020: +57.5%ROKU FY2021: +55.5%ROKU FY2022: +13.1%ROKU FY2023: +11.5%ROKU FY2024: +18.0%ROKU FY2025: +15.2%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
ROKU +15.2%WBD -5.1%
Free cash flow
ROKU FY2018: -$4.4MROKU FY2019: -$63.5MROKU FY2020: $65.8MROKU FY2021: $188MROKU FY2022: -$149.9MROKU FY2023: $173.2MROKU FY2024: $213MROKU FY2025: $478.4MWBD FY2018: $2.4BWBD FY2019: $3.1BWBD FY2020: $2.3BWBD FY2021: $2.4BWBD FY2022: $3.3BWBD FY2023: $6.2BWBD FY2024: $4.4BWBD FY2025: $3.1BFY18FY19FY20FY21FY22FY23FY24FY25
ROKU $478.4MWBD $3.1B

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

Questions about Roku and Warner Bros. Discovery

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

Warner Bros. Discovery is bigger by revenue: $37.3B in fiscal 2025, against $4.7B for Roku in fiscal 2025.

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

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

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

In their latest fiscal years revenue changed by +15.2% at Roku 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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