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PARA
Paramount Global · Communication Services - Media & Entertainment
$18.51
+23.40% this month
VERSUS
⟷
COMPARE
WBD
Warner Bros. Discovery, Inc. · Communication Services - Media & Entertainment
$26.20
-3.29% this month
Scoreboard verdict
Across AI score, momentum, valuation, upside, operating margin
PARA
1
WBD
4
Comparison scoreboard
WBD LEADS 4/5AI Score
PARA 25.5
WBD ✓45.2
1Y Return
PARA +77.50%
WBD ✓+147.64%
Fwd P/E
PARA 6.77
WBD ✓-3711.14
Target Up.
PARA +9.49%
WBD ✓+9.88%
Op. Margin
PARA ✓10.26%
WBD 8.59%
Metrics last refreshed: 6/20/2026
Quick take
PARA vs WBD Stock Comparison: AI Score, Valuation, Performance and Upside
PARA (Paramount Global) and WBD (Warner Bros. Discovery) are both legacy media companies navigating the painful transition from cable TV to streaming — Paramount has CBS's broadcast dominance and NFL rights but was acquired by Skydance, while WBD carries massive merger debt but has HBO's prestige content brand and Warner Bros.' film studio. Both face declining linear TV revenues and are investing heavily in streaming at a time when profits require careful balance between content investment and cost discipline.
PARA vs WBD is CBS broadcast dominance and Paramount+ streaming under new Skydance ownership (Paramount's NFL and CBS content creating streaming differentiation while Skydance brings new entertainment industry ownership and financial restructuring) versus prestige HBO content brand with heavy debt burden from WarnerMedia merger (Warner Bros. Discovery's Max streaming platform built around HBO's globally recognized quality brand competing against Netflix with $45B+ in debt constraining strategic options) — new ownership restructuring versus debt-loaded streaming competitor with premium brand.
Live analysis · updated 6/20/2026
WBD holds the edge across 4 of 5 key metrics in this comparison. WBD leads on both 1-year return (+147.64%) and forward P/E (-3711.14x vs 6.77x for PARA), a relatively favorable combination of momentum and valuation. PARA leads on both revenue growth (0.50%) and operating margin (10.26%), suggesting a stronger fundamental setup on both dimensions. Analyst consensus implies similar upside for both: +9.49% for PARA and +9.88% for WBD.
Normalized 1Y performance
PARA
WBD
Recent returns
PARA
WBD
Analyst price targets & sentiment
PARA · 20 analysts
STRONG BUYHOLDSTRONG SELL
Hold (3.4/5.0)
Price target range
analyst low$8.50
analyst high$20.00
analyst mean$12.09
current price$18.51
+9.5% upside to analyst mean
WBD
Price target range
analyst mean$29.65
current price$26.20
+9.9% upside to analyst mean
Who should consider this stock?
PARA may suit investors who:
- →Hold PARA for the Skydance merger transaction and its impact on the combined entity's streaming strategy and financial structure under new private entertainment industry ownership
- →Value CBS's broadcast dominance and NFL live sports streaming rights as durable content assets that Paramount+ leverages for differentiated live sports streaming versus pure on-demand competitors
- →See Paramount Pictures' iconic film franchises (Mission: Impossible, Transformers) as valuable IP for the streaming library and theatrical release pipeline going forward under Skydance management
WBD may suit investors who:
- →Believe HBO's globally recognized prestige TV brand is worth significantly more than WBD's current market cap implies, and that debt reduction combined with Max streaming growth will unlock this intrinsic value
- →Value Warner Bros. Pictures and DC IP as long-duration entertainment assets with theatrical and streaming revenue potential across multiple decades as DC Films rebuilds under new creative direction
- →Accept WBD's heavy debt load and linear TV headwinds as transitional challenges rather than permanent impairments, with Max streaming profitability as the key medium-term catalyst
Performance & AI score
| Metric | PARA | WBD |
|---|---|---|
| AI score | 25.5 | 45.2 |
| AI rank | #2741 | #730 |
| Latest close | $18.51 | $26.20 |
| 1M return | +23.40% | -3.29% |
| 6M return | +73.80% | -7.13% |
| 1Y return | +77.50% | +147.64% |
$10,000 invested — hypothetical growth (dividends reinvested)
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | PARA | WBD |
|---|---|---|
| 1Y ago | $17.94K (+79.4%) started 2024-10-08 | $24.79K (+147.9%) started 2025-06-18 |
| 5Y ago | $7.89K (-21.1%) started 2020-10-08 | $8.82K (-11.8%) started 2021-06-21 |
| 10Y ago | $6.41K (-35.9%) started 2015-10-08 | $10.04K (+0.4%) started 2016-06-20 |
Hypothetical — past performance does not guarantee future results.
Valuation & upside potential
| Metric | PARA | WBD |
|---|---|---|
| Market cap | $6.99B | $67.64B |
| Trailing P/E | 368.00 | 93.00 |
| Forward P/E | 6.77 | -3711.14 |
| Price/Sales | 0.29 | N/A |
| EV/Revenue | 0.72 | 2.63 |
| Analyst target | $12.09 | $29.65 |
| Target upside | +9.49% | +9.88% |
Growth, profitability & risk
| Metric | PARA | WBD |
|---|---|---|
| Revenue growth | 0.50% | -1.00% |
| Earnings growth | N/A | N/A |
| EPS growth | N/A | N/A |
| FCF margin | +50.59% | +49.63% |
| Operating margin | 10.26% | 8.59% |
| Profit margin | -0.05% | -4.67% |
| ROIC proxy | 0.09% | -4.96% |
| Return on equity | 0.09% | -4.96% |
| Dividend yield | 1.90% | N/A |
| Beta | 1.19 | 1.55 |
| Debt/equity | 90.63 | 96.32 |
| Current ratio | 1.39 | 0.73 |
| Quick ratio | 1.03 | 0.41 |
Drawdown & downside risk
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
1Y risk snapshot
PARA max drawdown23.91%
WBD max drawdown21.31%
PARA max wkly drop19.22%
WBD max wkly drop15.78%
5Y risk snapshot
PARA max drawdown89.51%
WBD max drawdown78.49%
PARA max wkly drop55.14%
WBD max wkly drop24.68%
10Y risk snapshot
PARA max drawdown89.51%
WBD max drawdown91.32%
PARA max wkly drop55.14%
WBD max wkly drop45.77%
Performance metrics by period
| Period | Metric | PARA | WBD |
|---|---|---|---|
| 1Y | Growth | +77.84% | +147.87% |
| CAGR | +78.08% | +148.19% | |
| Sharpe ratio | 1.21 | 2.09 | |
| Max drawdown | 23.91% | 21.31% | |
| Max daily drop | 10.97% | 8.01% | |
| Max wkly drop | 19.22% | 15.78% | |
| 5Y | Growth | -29.97% | -11.75% |
| CAGR | -6.88% | -2.47% | |
| Sharpe ratio | 0.08 | 0.13 | |
| Max drawdown | 89.51% | 78.49% | |
| Max daily drop | 28.35% | 19.04% | |
| Max wkly drop | 55.14% | 24.68% | |
| 10Y | Growth | -48.49% | +0.42% |
| CAGR | -6.42% | +0.04% | |
| Sharpe ratio | 0.01 | 0.14 | |
| Max drawdown | 89.51% | 91.32% | |
| Max daily drop | 28.35% | 27.45% | |
| Max wkly drop | 55.14% | 45.77% |
Business comparison
| Category | PARA | WBD |
|---|---|---|
| Company | Paramount Global | Warner Bros. Discovery, Inc. |
| Sector | Communication Services | Communication Services |
| Industry | Entertainment | N/A |
| Core business | Paramount Global (formerly ViacomCBS) owns CBS (the most-watched broadcast network in the U.S.), Paramount Network, MTV, Nickelodeon, BET, Comedy Central, and the Paramount Pictures film studio. Paramount+ is Paramount's streaming service combining Paramount films, CBS content, Nickelodeon originals, and sports (NFL on CBS, SEC college football). Paramount also has a 50% stake in CW Network (co-owned with Nexstar). Paramount was acquired by Skydance Media in 2024, completing a merger of Skydance's parent company with Paramount Global. | Warner Bros. Discovery was formed in 2022 through the merger of WarnerMedia (AT&T's media assets including HBO, Turner Networks, Warner Bros. Studios) with Discovery Communications (HGTV, Food Network, Discovery Channel, TLC). WBD's portfolio: HBO/Max (premium streaming and pay cable — HBO series like Succession, Game of Thrones, Euphoria; plus Max library with Warner Bros. films); Warner Bros. Pictures (one of Hollywood's oldest studios); DC Films (Batman, Superman, Aquaman, Wonder Woman); CNN; Turner Sports (NBA rights); TBS; TNT; discovery+ (merged into Max); and extensive reality/lifestyle cable networks. |
| Investor focus | Paramount was in the process of being acquired by Skydance Media during 2024; the transaction involved Skydance's parent company merging with Paramount, with National Amusements (the Redstone family holding company) selling its controlling stake. For standalone Paramount analysis: investors tracked CBS television ratings, Paramount+ subscriber growth, Paramount Pictures theatrical performance, and streaming profitability. | Investors track WBD's streaming subscriber count (Max global subscribers), streaming profitability, debt reduction from the WarnerMedia merger's $45B+ in debt, free cash flow generation, NBA rights retention or loss, and traditional TV linear revenue decline pace. |
PARA strengths
- →CBS is the highest-rated U.S. broadcast network with NFL rights — CBS's live sports broadcasting (NFL AFC games, NCAA March Madness) drives massive simultaneous viewership; live sports remain the most resilient broadcast TV content; NFL rights command premium affiliate fees and advertising rates
- →Paramount+ subscriber growth fueled by CBS and NFL content — Paramount+ offers CBS live streaming plus a vast library; NFL game access and CBS live local stations give Paramount+ a unique live sports + streaming value proposition
- →Paramount Pictures has iconic IP franchises — Mission: Impossible, Transformers, Sonic the Hedgehog, and Star Trek provide theatrical and streaming content pipelines
WBD strengths
- →HBO's prestige TV library is the most valuable premium content brand globally — HBO's association with quality prestige television (Sopranos, Wire, Game of Thrones, Succession, Euphoria) creates a content premium that commands higher subscription prices and lower churn than general entertainment streaming services
- →Warner Bros. film studio with DC IP provides theatrical and streaming pipeline — DC Films (Batman, Superman, Wonder Woman) has enormous commercial potential; successful DC film universe execution creates theatrical revenue and streaming library value
- →Max global streaming platform building international scale — Max expanded internationally in 2024-2025; HBO's globally recognized brand enables subscriber acquisition in international markets at lower marketing cost than new streaming brands
Risks to watch — PARA
- →Paramount's financial position was strained by streaming investment — Paramount accumulated significant debt funding streaming content investment while free TV revenues (affiliate fees, advertising) declined; the balance sheet was under pressure before the Skydance merger
- →Skydance merger terms were controversial — some Paramount shareholders objected to the Skydance transaction structure, arguing the Redstone family received favorable treatment at the expense of public shareholders; litigation followed
- →Streaming profitability at Paramount+ remains unclear post-merger — Paramount+ competes against Netflix, Disney+, and Max with smaller content budgets; achieving streaming profitability requires cost discipline and subscriber monetization improvements
Risks to watch — WBD
- →$45B+ debt burden from WarnerMedia merger severely constrains financial flexibility — WBD's massive debt limits content investment, reduces strategic optionality, and creates financial risk in an environment where cable TV revenues are declining
- →NBA rights loss to Amazon/NBC could remove a major sports streaming anchor — WBD lost significant portions of its Turner Sports NBA broadcasting rights in 2024 when Amazon and NBCUniversal won the new rights package; losing NBA content removes a key live sports driver
- →Linear cable network decline accelerating — CNN, TBS, TNT, HGTV, Food Network, and other WBD cable networks face subscriber declines as households cut the cable bundle; declining affiliate fee and advertising revenue from these networks reduces the cash flow that services WBD's debt
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