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Side-by-side financial comparison of Allstate (ALL) and Warner Bros. Discovery (WBD). Click either name above to swap in a different company.
Allstate is the larger business by last-quarter revenue ($17.3B vs $9.5B, roughly 1.8× Warner Bros. Discovery). Allstate runs the higher net margin — 22.1% vs -2.7%, a 24.8% gap on every dollar of revenue. On growth, Allstate posted the faster year-over-year revenue change (5.1% vs -5.7%). Allstate produced more free cash flow last quarter ($2.9B vs $1.4B). Over the past eight quarters, Allstate's revenue compounded faster (6.6% CAGR vs -2.5%).
The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal ...
Warner Bros. Discovery, Inc. (WBD) is an American multinational mass media and entertainment conglomerate headquartered in New York City. It was formed from WarnerMedia's spin-off by AT&T and merger with Discovery, Inc. on April 8, 2022.
ALL vs WBD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $17.3B | $9.5B |
| Net Profit | $3.8B | $-252.0M |
| Gross Margin | — | — |
| Operating Margin | — | 3.7% |
| Net Margin | 22.1% | -2.7% |
| Revenue YoY | 5.1% | -5.7% |
| Net Profit YoY | 98.8% | 49.0% |
| EPS (diluted) | $14.24 | $-0.10 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $17.3B | $9.5B | ||
| Q3 25 | $17.3B | $9.0B | ||
| Q2 25 | $16.6B | $9.8B | ||
| Q1 25 | $16.5B | $9.0B | ||
| Q4 24 | $16.5B | $10.0B | ||
| Q3 24 | $16.6B | $9.6B | ||
| Q2 24 | $15.7B | $9.7B | ||
| Q1 24 | $15.3B | $10.0B |
| Q4 25 | $3.8B | $-252.0M | ||
| Q3 25 | $3.7B | $-148.0M | ||
| Q2 25 | $2.1B | $1.6B | ||
| Q1 25 | $595.0M | $-453.0M | ||
| Q4 24 | $1.9B | $-494.0M | ||
| Q3 24 | $1.2B | $135.0M | ||
| Q2 24 | $331.0M | $-10.0B | ||
| Q1 24 | $1.2B | $-966.0M |
| Q4 25 | — | 3.7% | ||
| Q3 25 | — | 6.8% | ||
| Q2 25 | — | -1.9% | ||
| Q1 25 | — | -0.4% | ||
| Q4 24 | — | 1.6% | ||
| Q3 24 | — | 2.9% | ||
| Q2 24 | — | -105.1% | ||
| Q1 24 | — | -2.7% |
| Q4 25 | 22.1% | -2.7% | ||
| Q3 25 | 21.7% | -1.6% | ||
| Q2 25 | 12.7% | 16.1% | ||
| Q1 25 | 3.6% | -5.0% | ||
| Q4 24 | 11.7% | -4.9% | ||
| Q3 24 | 7.2% | 1.4% | ||
| Q2 24 | 2.1% | -102.8% | ||
| Q1 24 | 8.0% | -9.7% |
| Q4 25 | $14.24 | $-0.10 | ||
| Q3 25 | $13.95 | $-0.06 | ||
| Q2 25 | $7.76 | $0.63 | ||
| Q1 25 | $2.11 | $-0.18 | ||
| Q4 24 | $7.07 | $-0.20 | ||
| Q3 24 | $4.33 | $0.05 | ||
| Q2 24 | $1.13 | $-4.07 | ||
| Q1 24 | $4.46 | $-0.40 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $4.9B | $4.6B |
| Total DebtLower is stronger | $7.5B | $32.4B |
| Stockholders' EquityBook value | $30.6B | $35.9B |
| Total Assets | $119.8B | $100.1B |
| Debt / EquityLower = less leverage | 0.24× | 0.90× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.9B | $4.6B | ||
| Q3 25 | $8.7B | $4.3B | ||
| Q2 25 | $9.6B | $4.9B | ||
| Q1 25 | $6.5B | $3.9B | ||
| Q4 24 | $4.5B | $5.3B | ||
| Q3 24 | $7.0B | $3.3B | ||
| Q2 24 | $5.3B | $3.6B | ||
| Q1 24 | $4.3B | $3.0B |
| Q4 25 | $7.5B | $32.4B | ||
| Q3 25 | $8.1B | $33.4B | ||
| Q2 25 | $8.1B | $34.4B | ||
| Q1 25 | $8.1B | $34.6B | ||
| Q4 24 | $8.1B | $36.8B | ||
| Q3 24 | $8.1B | $37.2B | ||
| Q2 24 | $8.1B | $37.3B | ||
| Q1 24 | $7.9B | $39.1B |
| Q4 25 | $30.6B | $35.9B | ||
| Q3 25 | $27.5B | $36.0B | ||
| Q2 25 | $24.0B | $36.0B | ||
| Q1 25 | $22.1B | $33.8B | ||
| Q4 24 | $21.4B | $34.0B | ||
| Q3 24 | $20.9B | $35.1B | ||
| Q2 24 | $18.6B | $34.3B | ||
| Q1 24 | $18.6B | $44.2B |
| Q4 25 | $119.8B | $100.1B | ||
| Q3 25 | $120.4B | $100.5B | ||
| Q2 25 | $115.9B | $101.7B | ||
| Q1 25 | $115.2B | $101.7B | ||
| Q4 24 | $111.6B | $104.6B | ||
| Q3 24 | $113.7B | $106.3B | ||
| Q2 24 | $108.4B | $108.0B | ||
| Q1 24 | $105.2B | $119.8B |
| Q4 25 | 0.24× | 0.90× | ||
| Q3 25 | 0.29× | 0.93× | ||
| Q2 25 | 0.34× | 0.95× | ||
| Q1 25 | 0.37× | 1.02× | ||
| Q4 24 | 0.38× | 1.08× | ||
| Q3 24 | 0.39× | 1.06× | ||
| Q2 24 | 0.43× | 1.09× | ||
| Q1 24 | 0.43× | 0.89× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $3.0B | $1.8B |
| Free Cash FlowOCF − Capex | $2.9B | $1.4B |
| FCF MarginFCF / Revenue | 16.7% | 14.6% |
| Capex IntensityCapex / Revenue | 0.5% | 4.5% |
| Cash ConversionOCF / Net Profit | 0.78× | — |
| TTM Free Cash FlowTrailing 4 quarters | $9.9B | $3.1B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.0B | $1.8B | ||
| Q3 25 | $3.3B | $979.0M | ||
| Q2 25 | $1.9B | $983.0M | ||
| Q1 25 | $2.0B | $553.0M | ||
| Q4 24 | $1.7B | $2.7B | ||
| Q3 24 | $3.2B | $847.0M | ||
| Q2 24 | $2.4B | $1.2B | ||
| Q1 24 | $1.7B | $585.0M |
| Q4 25 | $2.9B | $1.4B | ||
| Q3 25 | $3.2B | $701.0M | ||
| Q2 25 | $1.9B | $702.0M | ||
| Q1 25 | $1.9B | $302.0M | ||
| Q4 24 | $1.7B | $2.4B | ||
| Q3 24 | $3.1B | $632.0M | ||
| Q2 24 | $2.3B | $976.0M | ||
| Q1 24 | $1.6B | $390.0M |
| Q4 25 | 16.7% | 14.6% | ||
| Q3 25 | 18.8% | 7.8% | ||
| Q2 25 | 11.3% | 7.2% | ||
| Q1 25 | 11.4% | 3.4% | ||
| Q4 24 | 10.0% | 24.2% | ||
| Q3 24 | 18.9% | 6.6% | ||
| Q2 24 | 14.7% | 10.0% | ||
| Q1 24 | 10.6% | 3.9% |
| Q4 25 | 0.5% | 4.5% | ||
| Q3 25 | 0.3% | 3.1% | ||
| Q2 25 | 0.0% | 2.9% | ||
| Q1 25 | 0.6% | 2.8% | ||
| Q4 24 | 0.3% | 2.9% | ||
| Q3 24 | 0.4% | 2.2% | ||
| Q2 24 | 0.4% | 2.6% | ||
| Q1 24 | 0.3% | 2.0% |
| Q4 25 | 0.78× | — | ||
| Q3 25 | 0.88× | — | ||
| Q2 25 | 0.89× | 0.62× | ||
| Q1 25 | 3.30× | — | ||
| Q4 24 | 0.88× | — | ||
| Q3 24 | 2.69× | 6.27× | ||
| Q2 24 | 7.13× | — | ||
| Q1 24 | 1.37× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALL
Segment breakdown not available.
WBD
| Distribution Revenue | $4.8B | 51% |
| Global Linear Networks | $4.2B | 44% |
| Service Other | $307.0M | 3% |
| Related Party | $204.0M | 2% |
| Other | $7.0M | 0% |
