TKO NYSE Movies & Entertainment Financials FY2021βFY2025
TKO owns UFC, the mixed martial arts league, and WWE, the professional wrestling company, along with Professional Bull Riders, and runs the Zuffa Boxing promotion through a joint venture. It owns IMG, a sports marketing agency, and On Location, which sells tickets and hospitality packages for major events such as the Olympics and the Super Bowl. TKO says its properties reach more than 1 billion households and that it held over 500 live events in 2025.
Hi! I read TKO Groupβs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
β3.1%
No. Sales fell 3.1% last year.
Does it make a profit?
4.1%
A little. It keeps 4.1% of every sale as profit.
Is debt under control?
2.4x
Keep an eye on it. Repaying its debt would take 2.4 years of operating profit.
How healthy are the accounts?
5 / 8
Mixed. It passes 5 of 8 health tests.
Rules of thumb on reported numbers. A starting point, not a recommendation.
About these figures. TKO was formed in September 2023 when UFC and WWE combined; earlier years are UFC's parent, which had no public shares, so per-share figures start in 2023. TKO tags its capital expenditure with its own label, which the SEC's structured data leaves out, so capital spending and free cash flow are left blank.
Is it selling more, and how much does it keep?
In plain words: Every quarter, companies publish how much they sold and earned. These are the days TKO Group did it, and the next one. Share prices often move a lot on those days.
Next results
November 4, 2026
Wednesday Β· in 9 days
| Date | Results for | Time | Source |
|---|---|---|---|
| Aug 3, 2026 | Q2 '26 | After the market closes | 8-K β |
| May 6, 2026 | Q1 '26 | After the market closes | 8-K β |
| Feb 25, 2026 | Q4 '25 | After the market closes | 8-K β |
| Nov 5, 2025 | Q3 '25 | After the market closes | 8-K β |
| Aug 6, 2025 | Q2 '25 | After the market closes | 8-K β |
| May 8, 2025 | Q1 '25 | After the market closes | 8-K β |
| Feb 26, 2025 | Q4 '24 | After the market closes | 8-K β |
| Nov 6, 2024 | Q3 '24 | After the market closes | 8-K β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
KIRA Β· TKO Group had $4.7B of revenue in fiscal 2025, down 3.1% on the year before. Its operating margin was 17.6%, up 17.0Β pts: of every 100 in sales, about 18 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· TKO Group made $195M of net profit in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
KIRA Β· TKO Group returned $1.1B to shareholders in fiscal 2025. The diluted share count rose 12.9%.
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· In the last 12 months, insiders sold $24.8M of shares on the open market and bought none.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$24.8M
4 insiders
Of sales under plans
100%
$24.8M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Oct 15, 2026 | Nick KhanDirector | Sold plan | 9,189 | $175.19 | $1.6M | Form 4 |
| Oct 13, 2026 | Nick KhanDirector | Sold plan | 400 | $175.07 | $0.1M | Form 4 |
| Sep 14, 2026 | Nick KhanDirector | Sold plan | 9,589 | $194.77 | $1.9M | Form 4 |
| Aug 19, 2026 | Nick KhanDirector | Sold plan | 6,546 | $199.41 | $1.3M | Form 4 |
| Aug 18, 2026 | Andrew M SchleimerChief Financial Officer | Sold plan | 9,942 | $194.39 | $1.9M | Form 4 |
| Aug 18, 2026 | Ariel EmanuelChief Executive Officer, Director | Sold plan | 24,702 | $194.39 | $4.8M | Form 4 |
| Aug 18, 2026 | Mark S ShapiroSee Remarks, Director | Sold plan | 19,120 | $194.39 | $3.7M | Form 4 |
| Aug 18, 2026 | Nick KhanDirector | Sold plan | 8,248 | $194.39 | $1.6M | Form 4 |
| Aug 13, 2026 | Nick KhanDirector | Sold plan | 9,589 | $197.17 | $1.9M | Form 4 |
| Jul 21, 2026 | Nick KhanDirector | Sold plan | 12,998 | $181.11 | $2.4M | Form 4 |
| Jul 20, 2026 | Nick KhanDirector | Sold plan | 10,081 | $183.56 | $1.9M | Form 4 |
| Jul 13, 2026 | Nick KhanDirector | Sold plan | 9,589 | $182.63 | $1.8M | Form 4 |
Can it carry its debts, and how well does it use its money?
KIRA Β· TKO Group owes $3.2B more than it holds in cash, about 2.4 years of operating profit.
Cash, debt and the ratios that show how comfortably TKO Group can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $875M | $181M | $236M | $620M | $831M |
| Debt incl. finance leases | β | $2.8B | $3.0B | $3.0B | $4.0B |
| Net debt / EBITDA | β | 4.3x | 4.6x | 4.9x | 2.4x |
| Debt / equity | β | 4.9x | 0.7x | 0.7x | 1.1x |
| Interest coverage | 3.8x | 3.9x | 1.6x | 0.1x | 4.1x |
| Current ratio | β | 1.2x | 1.0x | 1.1x | 1.3x |
| Quick ratio | β | 1.2x | 1.0x | 1.1x | 1.3x |
| Total assets | β | $3.6B | $12.7B | $15.1B | $15.5B |
| Total liabilities | β | $3.0B | $3.8B | $5.0B | $6.2B |
| Shareholders' equity | $1.2B | $569M | $4.1B | $4.1B | $3.7B |
| Net debt (β = net cash) | β | $2.6B | $2.8B | $2.4B | $3.2B |
KIRA Β· Its return on capital was 5.9%: every 100 invested in the business earned about 6 in a year.
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· TKO Group passes 5 of 8 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY23 | FY24 | FY25 |
|---|---|---|---|
| Net income is positive | β | β | β |
| Cash from operations is positive | β | β | β |
| Return on assets rose | β | β | β |
| Cash from operations exceeds net income | β | β | β |
| Debt fell relative to assets | β | β | β |
| Current ratio rose | β | β | β |
| Share count didn't rise | β | β | β |
| Gross margin rose | β | β | β |
| Revenue rose relative to assets | β | β | β |
| F-score | β / 9 | 6 / 8 | 5 / 8 |
| Accruals ratio | β3.7% | β4.2% | β7.1% |
| Altman Z'' | 3.03 | 2.14 | 1.95 |
What does the share cost, and how does it compare?
KIRA Β· At $173.07 a share, the company is worth $13.1B.
Change the assumptions and see what they imply per share. These are models, not forecasts or price targets β the answer depends entirely on what you put in.
In plain words: Move the sliders to try your own guesses about growth. The result is what one share would be worth if those guesses came true. Different guesses give very different answers.
Value per share
β
Adds net cash of β$3.2B and divides by 194.0M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.
Value per share
β
Reference multiples: today β Β· peers β Β· sector 17.2x.
KIRA Β· TKO Group grew sales faster than 0 of its 4 similar companies.
Each companyβs latest fiscal year. Fiscal years end in different months, so periods donβt line up exactly.
In plain words: The same numbers for similar companies, so you can tell whether a figure is high or low for this kind of business.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score | |
|---|---|---|---|---|---|---|---|---|
| TKO Group TKO | $13.1B | β3.1% | 17.6% | β | 5.9% | β | 5 | |
| Roku ROKU | $24.1B | 15.2% | β0.1% | 10.1% | β | 67.5x | 6 | Compare β |
| AMC Entertainment AMC | $2.1B | 4.6% | β0.4% | β7.6% | β0.8% | β | 2 | Compare β |
| Warner Music Group WMG | β | 4.4% | 10.4% | 8.0% | 12.2% | β | β | Compare β |
| Lionsgate Studios LION | $3.6B | 1.8% | 3.7% | 0.4% | 8.3% | β | 5 | Compare β |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Income statement | |||||
| Revenue | $1.0B | $1.1B | $3.2B | $4.9B | $4.7B |
| Operating income | $391M | $544M | $376M | $30.9M | $835M |
| Interest expense | $102M | $140M | $230M | $236M | $203M |
| Pretax income | $289M | $404M | $167M | β$210M | $607M |
| Income tax | $15.8M | $14.3M | $33.2M | $37.3M | $73.8M |
| Net income | $274M | $389M | β$35.2M | $9.4M | $195M |
| Diluted EPS | β | β | β$0.43 | $0.02 | $2.26 |
| Diluted shares | β | β | 0.08B | 0.17B | 0.19B |
| Cash flow | |||||
| Cash from operations | $441M | $502M | $266M | $586M | $1.3B |
| Depreciation and amortization | $63.2M | $60.0M | $224M | $458M | $485M |
| Stock-based compensation | $63.9M | $23.7M | $64.5M | $104M | $118M |
| Acquisitions | $0.0M | $0.0M | $0.0M | $0.0M | $8.7M |
| Share buybacks | $0.0M | $0.0M | $100M | $165M | $867M |
| Dividends paid | $0.0M | $0.0M | $0.0M | $0.0M | $185M |
| Dividends and buybacks | $0.0M | $0.0M | $100M | $165M | $1.1B |
| Balance sheet | |||||
| Cash and short-term investments | $875M | $181M | $236M | $620M | $831M |
| Total debt | β | $2.8B | $2.7B | $2.8B | $3.8B |
| Finance lease liabilities | $0.0M | $0.0M | $253M | $243M | $242M |
| Current assets | β | $268M | $492M | $1.5B | $2.3B |
| Current liabilities | β | $230M | $472M | $1.4B | $1.8B |
| Inventory | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Property and equipment, net | β | $175M | $608M | $630M | $640M |
| Total assets | β | $3.6B | $12.7B | $15.1B | $15.5B |
| Total liabilities | β | $3.0B | $3.8B | $5.0B | $6.2B |
| Shareholders' equity | $1.2B | $569M | $4.1B | $4.1B | $3.7B |
| Margins | |||||
| Operating margin | 37.9% | 47.8% | 11.7% | 0.6% | 17.6% |
| EBITDA margin | 44.0% | 53.0% | 18.6% | 10.0% | 27.9% |
| Net margin | 26.5% | 34.1% | β1.1% | 0.2% | 4.1% |
| Returns | |||||
| Return on capital | β | β | 3.4% | 0.2% | 5.9% |
| Return on capital employed | β | β | 4.8% | 0.2% | 6.1% |
| Return on equity | β | β | β1.5% | 0.2% | 5.0% |
| Return on assets | β | β | β0.4% | 0.1% | 1.3% |
| Growth | |||||
| Revenue growth | β | 10.5% | 182.8% | 51.5% | β3.1% |
| Net income growth | β | 42.2% | β109.1% | β | 1,977.0% |
| EPS growth | β | β | β | β | 11,200.0% |
| Share count change | β | β | β | 107.6% | 12.9% |
| Financial health | |||||
| Net debt / EBITDA | β | 4.3x | 4.6x | 4.9x | 2.4x |
| Debt / equity | β | 4.9x | 0.7x | 0.7x | 1.1x |
| Interest coverage | 3.8x | 3.9x | 1.6x | 0.1x | 4.1x |
| Current ratio | β | 1.2x | 1.0x | 1.1x | 1.3x |
| Quick ratio | β | 1.2x | 1.0x | 1.1x | 1.3x |
| Capital allocation | |||||
| Stock comp / revenue | 6.2% | 2.1% | 2.0% | 2.1% | 2.5% |
| Quality scores | |||||
| Piotroski F-score | β | β | β | 6.0 | 5.0 |
| Altman Z'' | β | β | 3.0 | 2.1 | 2.0 |
| Accruals ratio | β | β | β3.7% | β4.2% | β7.1% |
Source: SEC EDGAR XBRL filings (CIK 0001973266). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
