Match Group vs Reddit
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The short version
- Match Group is the larger business, with $3.5B of revenue in fiscal 2025 against $2.2B for Reddit, about 1.6 times as much.
- Reddit grew revenue faster (69.4%, against 0.2%).
- Match Group kept more of each dollar of sales as operating profit (25.0% operating margin, against 20.1%).
- Reddit turned more of its sales into free cash flow (31.1% FCF margin, against 29.4%).
- Reddit earned a higher return on the capital invested in it (119.1%, against 28.3%).
- Investors pay more for each dollar of Reddit’s earnings: a P/E of 33.5x against 16.2x for Match Group.
| Latest fiscal year | MTCH · FY25 | RDDT · FY25 |
|---|---|---|
| Size | ||
| Market cap | $11.3B | $29.1B |
| Revenue | $3.5B | $2.2B |
| Free cash flow | $1.0B | $684M |
| Net income | $614M | $530M |
| Growth | ||
| Revenue growth | 0.2% | 69.4% |
| 5-year growth | 7.8% | — |
| Share count change | −5.9% | 38.9% |
| Profitability | ||
| Gross margin | 72.8% | 91.2% |
| Operating margin | 25.0% | 20.1% |
| Net margin | 17.6% | 24.1% |
| FCF margin | 29.4% | 31.1% |
| Return on capital | 28.3% | 119.1% |
| Return on equity | — | 20.9% |
| Balance sheet | ||
| Net debt | $2.5B | −$2.5B |
| Net debt / EBITDA | 2.7x | −5.4x |
| Dividends and buybacks | $975M | $0.0M |
| Valuation & quality | ||
| P/E | 16.2x | 33.5x |
| Piotroski F-score | 8 | 6 |
Revenue
FY16
MTCH $3.1B
RDDT —
FY17
MTCH $3.3B
RDDT —
FY18
MTCH $1.7B
RDDT —
FY19
MTCH $2.1B
RDDT —
FY20
MTCH $2.4B
RDDT —
FY21
MTCH $3.0B
RDDT —
FY22
MTCH $3.2B
RDDT $667M
FY23
MTCH $3.4B
RDDT $804M
FY24
MTCH $3.5B
RDDT $1.3B
FY25
MTCH $3.5B
RDDT $2.2B
MTCH
RDDT
Operating margin
FY16
MTCH −1.0%
RDDT —
FY17
MTCH 5.7%
RDDT —
FY18
MTCH 31.8%
RDDT —
FY19
MTCH 31.5%
RDDT —
FY20
MTCH 31.2%
RDDT —
FY21
MTCH 28.6%
RDDT —
FY22
MTCH 16.2%
RDDT −25.8%
FY23
MTCH 27.3%
RDDT −17.4%
FY24
MTCH 23.7%
RDDT −43.1%
FY25
MTCH 25.0%
RDDT 20.1%
MTCH
RDDT
Free cash flow
FY16
MTCH $266M
RDDT —
FY17
MTCH $341M
RDDT —
FY18
MTCH $957M
RDDT —
FY19
MTCH $899M
RDDT —
FY20
MTCH $746M
RDDT —
FY21
MTCH $833M
RDDT —
FY22
MTCH $477M
RDDT −$100M
FY23
MTCH $829M
RDDT −$84.8M
FY24
MTCH $882M
RDDT $216M
FY25
MTCH $1.0B
RDDT $684M
MTCH
RDDT
Return on capital
FY16
MTCH −1.1%
RDDT —
FY17
MTCH 5.3%
RDDT —
FY18
MTCH 10.4%
RDDT —
FY19
MTCH 10.8%
RDDT —
FY20
MTCH 18.7%
RDDT —
FY21
MTCH 40.7%
RDDT —
FY22
MTCH 17.3%
RDDT —
FY23
MTCH 26.3%
RDDT —
FY24
MTCH 22.4%
RDDT —
FY25
MTCH 28.3%
RDDT 119.1%
MTCH
RDDT
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.