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Music and catalogs

The 2 companies in this industry listed on the NYSE and Nasdaq are worth $17 bn combined; the largest are Warner Music Group (WMG) and Reservoir Media (RSVR). For each one: what it does, revenue, margin, free cash flow over the last five years and a score from 0 to 10.

Data as of October 2026

Clear leader
2 companies value 17 bn revenue 7.5 bn margin 9.1% free cash flow 0.9 bn avg. score 5.2
WMG holds 96.3% of the group's value, 25.7x the runner-up
Rank Ticker Company Share Value Revenue Margin FCF 5 years FCF/px Yield What it does · why it is here
1 WMG Warner Music Group
United States · score 6.3
96% 16 bn 7.3 bn 9.2% 0.8 bn 5.1% 2.5% Warner record label and music publishing · One of the world's three major record labels; its catalog generates perpetual revenue
2 RSVR Reservoir Media
United States · score 4.2
4% 0.6 bn 0.2 bn 4.9% 0.0 bn 6.7% — Music publishing, recording and catalog management · Buys and manages music catalogs as income-producing assets

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What this is. A catalogue, not a guide. Every industry with stocks listed on the NYSE or NASDAQ, the companies contending for its leadership, what each one does according to its own annual report, and the balance sheet it filed with the SEC.

The score runs from 0 to 10 and compares each company with every other one in the almanac on cash generation, profitability, debt, dividends and consistency over the last five years. The higher it is, the better the company fares in that comparison. Curious how much each part weighs? Ask at the bottom of the page.

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