Match Group vs People Inc.
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The short version
- Match Group is the larger business, with $3.5B of revenue in fiscal 2025 against $2.4B for People Inc..
- Match Group grew revenue faster (0.2%, against −8.7%).
- Match Group kept more of each dollar of sales as operating profit (25.0% operating margin, against −4.1%).
- Match Group turned more of its sales into free cash flow (29.4% FCF margin, against 1.9%).
- Match Group earned a higher return on the capital invested in it (28.3%, against −1.3%).
- Investors pay more for each dollar of Match Group’s earnings: a P/E of 16.2x against 8.5x for People Inc..
| Latest fiscal year | MTCH · FY25 | PPLI · FY25 |
|---|---|---|
| Size | ||
| Market cap | $11.3B | $2.9B |
| Revenue | $3.5B | $2.4B |
| Free cash flow | $1.0B | $44.8M |
| Net income | $614M | −$104M |
| Growth | ||
| Revenue growth | 0.2% | −8.7% |
| 5-year growth | 7.8% | −2.8% |
| Share count change | −5.9% | −3.7% |
| Profitability | ||
| Gross margin | 72.8% | 66.2% |
| Operating margin | 25.0% | −4.1% |
| Net margin | 17.6% | −4.4% |
| FCF margin | 29.4% | 1.9% |
| Return on capital | 28.3% | −1.3% |
| Return on equity | — | −2.0% |
| Balance sheet | ||
| Net debt | $2.5B | $481M |
| Net debt / EBITDA | 2.7x | 14.5x |
| Dividends and buybacks | $975M | $315M |
| Valuation & quality | ||
| P/E | 16.2x | 8.5x |
| Piotroski F-score | 8 | 6 |
Revenue
FY16
MTCH $3.1B
PPLI —
FY17
MTCH $3.3B
PPLI —
FY18
MTCH $1.7B
PPLI $2.5B
FY19
MTCH $2.1B
PPLI $2.5B
FY20
MTCH $2.4B
PPLI $2.8B
FY21
MTCH $3.0B
PPLI $3.7B
FY22
MTCH $3.2B
PPLI $5.2B
FY23
MTCH $3.4B
PPLI $2.9B
FY24
MTCH $3.5B
PPLI $2.6B
FY25
MTCH $3.5B
PPLI $2.4B
MTCH
PPLI
Operating margin
FY16
MTCH −1.0%
PPLI —
FY17
MTCH 5.7%
PPLI —
FY18
MTCH 31.8%
PPLI 1.4%
FY19
MTCH 31.5%
PPLI 0.2%
FY20
MTCH 31.2%
PPLI −19.5%
FY21
MTCH 28.6%
PPLI −3.7%
FY22
MTCH 16.2%
PPLI −9.1%
FY23
MTCH 27.3%
PPLI −8.1%
FY24
MTCH 23.7%
PPLI −1.1%
FY25
MTCH 25.0%
PPLI −4.1%
MTCH
PPLI
Free cash flow
FY16
MTCH $266M
PPLI —
FY17
MTCH $341M
PPLI —
FY18
MTCH $957M
PPLI $315M
FY19
MTCH $899M
PPLI $157M
FY20
MTCH $746M
PPLI $93.9M
FY21
MTCH $833M
PPLI $28.7M
FY22
MTCH $477M
PPLI −$223M
FY23
MTCH $829M
PPLI $95.9M
FY24
MTCH $882M
PPLI $340M
FY25
MTCH $1.0B
PPLI $44.8M
MTCH
PPLI
Return on capital
FY16
MTCH −1.1%
PPLI —
FY17
MTCH 5.3%
PPLI —
FY18
MTCH 10.4%
PPLI —
FY19
MTCH 10.8%
PPLI —
FY20
MTCH 18.7%
PPLI −16.1%
FY21
MTCH 40.7%
PPLI −1.9%
FY22
MTCH 17.3%
PPLI −5.0%
FY23
MTCH 26.3%
PPLI −2.4%
FY24
MTCH 22.4%
PPLI −0.3%
FY25
MTCH 28.3%
PPLI −1.3%
MTCH
PPLI
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.