Versant Media Group vs Warner Music Group
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KIRA’s take AI analyst
I put Versant Media Group and Warner Music Group side by side, using each one’s latest annual report. Here is what stands out:
- Warner Music Group is the larger business, with $6.7B of revenue in fiscal 2025 against $6.7B for Versant Media Group.
- Warner Music Group grew revenue faster (4.4%, against −5.3%).
- Versant Media Group kept more of each dollar of sales as operating profit (19.0% operating margin, against 10.4%).
- Versant Media Group turned more of its sales into free cash flow (27.7% FCF margin, against 8.0%).
- Warner Music Group earned a higher return on the capital invested in it (12.2%, against 8.7%).
Who comes out ahead
Of the 7 measures where higher (or lower) is clearly better, how many each company leads.
Versant Media Group
VSNT
4/7
Operating marginNet marginFCF marginNet debt / EBITDA
Warner Music Group
WMG
3/7
Revenue growthReturn on capitalReturn on equity
Side by side
Best in the row
| Latest fiscal year | VSNT FY25 | WMG FY25 |
|---|---|---|
| Size | ||
| Market cap | $4.3B | — |
| Revenue | $6.7B | $6.7B |
| Free cash flow | $1.9B | $539M |
| Net income | $930M | $365M |
| Growth | ||
| Revenue growth | −5.3% | 4.4% |
| 5-year growth | — | 8.5% |
| Share count change | — | — |
| Profitability | ||
| Gross margin | — | 45.9% |
| Operating margin | 19.0% | 10.4% |
| Net margin | 13.9% | 5.4% |
| FCF margin | 27.7% | 8.0% |
| Return on capital | 8.7% | 12.2% |
| Return on equity | 8.8% | 62.7% |
| Balance sheet | ||
| Net debt | $928M | $3.8B |
| Net debt / EBITDA | 0.4x | 3.6x |
| Dividends and buybacks | $0.0M | $399M |
| Valuation & quality | ||
| P/E | — | — |
| Piotroski F-score | — | — |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.