Universal Music Group

UMG · Euronext Amsterdam · EUR

€14.26+0.92%+€0.13

Close · October 2, 2026

At a glance

Revenue growth: +5.69%; 2025 vs 2024
Net income growth: −26.51%; 2025 vs 2024
Net margin: 12.3%; 2024: 17.6%

Financial data

Amounts in millions of EUR; per-share values in EUR; shares in millions.

Balance sheet · Quarterly
Item	Q2 2026	Q4 2025	Q2 2025	Q4 2024	Q2 2024	Q4 2023	Q2 2023	Q4 2022	Q2 2022	Q4 2021
Total assets	18,378	17,456	18,301	17,320	15,165	13,091	12,451	11,639	13,076	12,094
Current assets	5,351	4,575	4,537	4,573	4,211	4,056	3,861	3,604	4,799	3,334
Cash and equivalents	485	451	493	553	438	413	463	439	1,540	585
Short-term investments	65.0	43.0	32.0	27.0	19.0	91.0	79.0	—	15.0	—
Receivables	3,089	2,672	2,574	2,527	2,356	2,282	2,148	2,018	2,130	1,806
Inventory	273	263	267	255	244	210	204	163	128	99.0
Net property, plant and equipment	1,108	721	646	688	652	493	474	485	517	555
Goodwill	2,403	1,754	1,748	1,895	1,722	1,624	1,622	1,578	1,579	1,480
Other intangible assets	542	262	240	232	203	180	162	119	111	96.0
Long-term investments	3,446	4,438	5,392	3,823	2,895	1,658	1,437	846	908	1,701
Current liabilities	8,819	7,206	7,174	7,624	7,200	6,267	6,216	6,520	6,046	5,392
Accounts payable	6,579	174	5,755	168	5,634	118	5,021	139	5,019	146
Long-term debt	2,804	2,297	2,179	1,778	1,824	1,826	1,830	1,113	3,003	2,277
Total debt	—	3,407	3,735	—	—	—	—	—	—	—
Total liabilities	14,730	12,888	13,394	12,769	11,694	10,108	9,892	9,287	10,870	10,064
Total equity (incl. minority)	3,648	4,568	4,907	4,551	3,471	2,983	2,559	2,352	2,206	2,030
Retained earnings	-29,184	-28,888	-28,552	-28,803	-29,900	-30,244	-30,639	-30,714	-30,858	-31,033
Minority interest	22.0	25.0	30.0	25.0	42.0	21.0	2.0	1.0	—	—