WBD vs. DIS

Last updated Apr 1, 2026

Compare and contrast key facts about Warner Bros. Discovery, Inc. (WBD) and The Walt Disney Company (DIS).

Performance

WBD vs. DIS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Warner Bros. Discovery, Inc. (WBD) and The Walt Disney Company (DIS). The values are adjusted to include any dividend payments, if applicable.

WBD vs. DIS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WBD Warner Bros. Discovery, Inc.	-4.72%	172.66%	-7.12%	20.04%	-59.73%	-21.77%	-8.09%	32.34%	10.55%	-18.35%
DIS The Walt Disney Company	-15.29%	3.30%	24.44%	4.26%	-43.91%	-14.51%	25.27%	33.51%	3.61%	4.76%

Fundamentals

Market Cap WBD : $69.47B DIS : $172.81B
EPS WBD : $1.01 DIS : $6.80
PE Ratio WBD : 27.17 DIS : 14.18
PEG Ratio WBD : 1.05 DIS : 0.19
PS Ratio WBD : 1.84 DIS : 1.82
PB Ratio WBD : 1.93 DIS : 1.59
Total Revenue (TTM) WBD : $37.30B DIS : $95.72B
Gross Profit (TTM) WBD : $16.41B DIS : $35.69B
EBITDA (TTM) WBD : $15.03B DIS : $19.26B

Returns By Period

In the year-to-date period, WBD achieves a -4.72% return, which is significantly higher than DIS's -15.29% return. Over the past 10 years, WBD has underperformed DIS with an annualized return of -0.51%, while DIS has yielded a comparatively higher 0.54% annualized return.

WBD

• 1D: 1.37%
• 1M: -2.52%
• YTD: -4.72%
• 6M: 40.60%
• 1Y: 155.92%
• 3Y*: 22.06%
• 5Y*: -8.71%
• 10Y*: -0.51%

DIS

• 1D: 2.18%
• 1M: -9.11%
• YTD: -15.29%
• 6M: -15.26%
• 1Y: -1.27%
• 3Y*: -0.50%
• 5Y*: -12.19%
• 10Y*: 0.54%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

WBD vs. DIS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

WBD

WBD Risk / Return Rank: 96
WBD Sharpe Ratio Rank: 96
WBD Sortino Ratio Rank: 95
WBD Omega Ratio Rank: 96
WBD Calmar Ratio Rank: 95
WBD Martin Ratio Rank: 95

DIS

DIS Risk / Return Rank: 38
DIS Sharpe Ratio Rank: 40
DIS Sortino Ratio Rank: 35
DIS Omega Ratio Rank: 35
DIS Calmar Ratio Rank: 41
DIS Martin Ratio Rank: 41

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

WBD vs. DIS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Warner Bros. Discovery, Inc. (WBD) and The Walt Disney Company (DIS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	WBD	DIS	Difference
Sharpe ratio Return per unit of total volatility	2.70	-0.04	+2.74
Sortino ratio Return per unit of downside risk	3.56	0.16	+3.39
Omega ratio Gain probability vs. loss probability	1.54	1.02	+0.51
Calmar ratio Return relative to maximum drawdown	5.82	-0.03	+5.84
Martin ratio Return relative to average drawdown	16.50	-0.06	+16.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WBD vs. DIS - Sharpe Ratio Comparison

The current WBD Sharpe Ratio is 2.70, which is higher than the DIS Sharpe Ratio of -0.04. The chart below compares the historical Sharpe Ratios of WBD and DIS, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	WBD	DIS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.70	-0.04	+2.74
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.16	-0.42	+0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.01	0.02	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	0.34	-0.26

Correlation

The correlation between WBD and DIS is 0.47, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

WBD vs. DIS - Dividend Comparison

WBD has not paid dividends to shareholders, while DIS's dividend yield for the trailing twelve months is around 1.30%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
WBD Warner Bros. Discovery, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DIS The Walt Disney Company	1.30%	1.10%	0.85%	0.33%	0.00%	0.00%	0.00%	1.22%	1.57%	1.51%	1.43%	1.30%

Drawdowns

WBD vs. DIS - Drawdown Comparison

The maximum WBD drawdown since its inception was -92.58%, which is greater than DIS's maximum drawdown of -85.66%. Use the drawdown chart below to compare losses from any high point for WBD and DIS.

Drawdown Indicators

	WBD	DIS	Difference
Max Drawdown Largest peak-to-trough decline	-92.58%	-85.66%	-6.92%
Max Drawdown (1Y) Largest decline over 1 year	-27.18%	-24.97%	-2.21%
Max Drawdown (5Y) Largest decline over 5 years	-84.54%	-58.19%	-26.35%
Max Drawdown (10Y) Largest decline over 10 years	-91.32%	-60.72%	-30.60%
Current Drawdown Current decline from peak	-69.64%	-51.14%	-18.50%
Average Drawdown Average peak-to-trough decline	-46.34%	-26.71%	-19.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.99%	10.43%	-0.44%

Volatility

WBD vs. DIS - Volatility Comparison

The current volatility for Warner Bros. Discovery, Inc. (WBD) is 3.56%, while The Walt Disney Company (DIS) has a volatility of 5.38%. This indicates that WBD experiences smaller price fluctuations and is considered to be less risky than DIS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WBD	DIS	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.56%	5.38%	-1.82%
Volatility (6M) Calculated over the trailing 6-month period	22.10%	19.15%	+2.95%
Volatility (1Y) Calculated over the trailing 1-year period	58.17%	31.09%	+27.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.32%	29.02%	+24.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.31%	28.62%	+18.69%

Financials

WBD vs. DIS - Profitability Comparison

The chart below illustrates the profitability comparison between Warner Bros. Discovery, Inc. and The Walt Disney Company over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

WBD - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Warner Bros. Discovery, Inc. reported a gross profit of 4.24B and revenue of 9.46B. Therefore, the gross margin over that period was 44.8%.

DIS - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, The Walt Disney Company reported a gross profit of 9.31B and revenue of 25.98B. Therefore, the gross margin over that period was 35.8%.

WBD - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Warner Bros. Discovery, Inc. reported an operating income of 349.00M and revenue of 9.46B, resulting in an operating margin of 3.7%.

DIS - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, The Walt Disney Company reported an operating income of 3.88B and revenue of 25.98B, resulting in an operating margin of 14.9%.

WBD - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Warner Bros. Discovery, Inc. reported a net income of 1.55B and revenue of 9.46B, resulting in a net margin of 16.4%.

DIS - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, The Walt Disney Company reported a net income of 2.40B and revenue of 25.98B, resulting in a net margin of 9.3%.