Match Group vs Tripadvisor
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The short version
- Match Group is the larger business, with $3.5B of revenue in fiscal 2025 against $1.9B for Tripadvisor, about 1.8 times as much.
- Tripadvisor grew revenue faster (3.1%, against 0.2%).
- Match Group kept more of each dollar of sales as operating profit (25.0% operating margin, against 4.2%).
- Match Group turned more of its sales into free cash flow (29.4% FCF margin, against 8.6%).
- Match Group earned a higher return on the capital invested in it (28.3%, against 8.9%).
- Investors pay more for each dollar of Tripadvisor’s earnings: a P/E of 156.8x against 16.2x for Match Group.
| Latest fiscal year | MTCH · FY25 | TRIP · FY25 |
|---|---|---|
| Size | ||
| Market cap | $11.3B | $1.1B |
| Revenue | $3.5B | $1.9B |
| Free cash flow | $1.0B | $163M |
| Net income | $614M | $40.0M |
| Growth | ||
| Revenue growth | 0.2% | 3.1% |
| 5-year growth | 7.8% | 25.6% |
| Share count change | −5.9% | −9.7% |
| Profitability | ||
| Gross margin | 72.8% | 92.3% |
| Operating margin | 25.0% | 4.2% |
| Net margin | 17.6% | 2.1% |
| FCF margin | 29.4% | 8.6% |
| Return on capital | 28.3% | 8.9% |
| Return on equity | — | 5.0% |
| Balance sheet | ||
| Net debt | $2.5B | $180M |
| Net debt / EBITDA | 2.7x | 1.1x |
| Dividends and buybacks | $975M | $90.0M |
| Valuation & quality | ||
| P/E | 16.2x | 156.8x |
| Piotroski F-score | 8 | 6 |
Revenue
FY16
MTCH $3.1B
TRIP $1.5B
FY17
MTCH $3.3B
TRIP $1.6B
FY18
MTCH $1.7B
TRIP $1.6B
FY19
MTCH $2.1B
TRIP $1.6B
FY20
MTCH $2.4B
TRIP $604M
FY21
MTCH $3.0B
TRIP $902M
FY22
MTCH $3.2B
TRIP $1.5B
FY23
MTCH $3.4B
TRIP $1.8B
FY24
MTCH $3.5B
TRIP $1.8B
FY25
MTCH $3.5B
TRIP $1.9B
MTCH
TRIP
Operating margin
FY16
MTCH −1.0%
TRIP 11.2%
FY17
MTCH 5.7%
TRIP 8.0%
FY18
MTCH 31.8%
TRIP 11.3%
FY19
MTCH 31.5%
TRIP 12.0%
FY20
MTCH 31.2%
TRIP −54.5%
FY21
MTCH 28.6%
TRIP −14.5%
FY22
MTCH 16.2%
TRIP 6.8%
FY23
MTCH 27.3%
TRIP 7.1%
FY24
MTCH 23.7%
TRIP 5.0%
FY25
MTCH 25.0%
TRIP 4.2%
MTCH
TRIP
Free cash flow
FY16
MTCH $266M
TRIP $249M
FY17
MTCH $341M
TRIP $174M
FY18
MTCH $957M
TRIP $344M
FY19
MTCH $899M
TRIP $341M
FY20
MTCH $746M
TRIP −$249M
FY21
MTCH $833M
TRIP $54.0M
FY22
MTCH $477M
TRIP $344M
FY23
MTCH $829M
TRIP $172M
FY24
MTCH $882M
TRIP $70.0M
FY25
MTCH $1.0B
TRIP $163M
MTCH
TRIP
Return on capital
FY16
MTCH −1.1%
TRIP 13.9%
FY17
MTCH 5.3%
TRIP 6.8%
FY18
MTCH 10.4%
TRIP —
FY19
MTCH 10.8%
TRIP —
FY20
MTCH 18.7%
TRIP —
FY21
MTCH 40.7%
TRIP −10.3%
FY22
MTCH 17.3%
TRIP 5.9%
FY23
MTCH 26.3%
TRIP 8.8%
FY24
MTCH 22.4%
TRIP 6.3%
FY25
MTCH 28.3%
TRIP 8.9%
MTCH
TRIP
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.