A Business at a Glance
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Match Group, Inc.
MTCH
$9.8B
Mkt Cap
$37.91
+1.36%
Match Group, Inc. (MTCH) has a current P/E ratio of 15.9, compared to its historical median P/E of 30.6. The stock is currently considered Cheap based on its historical valuation range.
Match Group, Inc. (MTCH) has a 5-year average return on invested capital (ROIC) of 24.7%. This indicates strong capital allocation and a potential competitive advantage.
Match Group, Inc. (MTCH) has a market capitalization of $8.9B. It is classified as a mid-cap stock.
Yes, Match Group, Inc. (MTCH) pays a dividend with a trailing twelve-month yield of 2.06%. The company also returns capital through share buybacks, with a buyback yield of 7.45%.
Based on historical P/E analysis, Match Group, Inc. (MTCH) appears cheap. The current P/E of 15.9 is 48% below its historical median of 30.6. The estimated fair value CAGR (P/E method) is 13.5%.
Match Group, Inc. (MTCH) operates in the Services-Computer Programming, Data Processing, Etc. industry, within the Technology sector.
Match Group, Inc. (MTCH) reported annual revenue of $3.5 billion in its most recent fiscal year, based on SEC EDGAR filings.
Match Group operates a global portfolio of digital connection platforms designed to help people form meaningful relationships across diverse preferences, demographics, and geographies. The company's brands—including Tinder, Hinge, Match, Meetic, OkCupid, Plenty of Fish, Pairs, Azar, and affinity-based services like BLK and HER—serve distinct user segments through a freemium model combining free core features with premium subscription tiers and à la carte purchases. Tinder emphasizes low-pressure discovery via its patented Swipe technology and targets younger users; Hinge focuses on intentional, relationship-oriented connections; Evergreen brands like Match and Meetic serve users seeking serious relationships; and Emerging brands serve specific communities defined by shared culture, values, or identity. The company employs a "One MG" operational approach that centralizes administrative functions, shares trust and safety capabilities, and deploys talent across brands while empowering individual brand leaders to compete and innovate. Match Group's competitive moat rests on brand recognition, large active user communities, algorithmic matching technology, trust and safety investments (including facial verification via Face Check), and a portfolio strategy spanning three dimensions—Fun, Focus, and Familiarity—that collectively address a broad spectrum of user needs. The company generates revenue primarily through subscription fees and in-app purchases, with geographic presence spanning North America, Europe, Asia-Pacific, and the Middle East, competing against social media platforms, other dating services, and traditional meeting methods.
【Product-driven user recovery underway】 Management expects Tinder's user experience improvements and Face Check rollout to drive sustainable engagement recovery throughout 2026 and into 2027, with early indicators showing less revenue headwind than anticipated from product changes. Hinge is positioned for continued strong growth with expansion into Mexico and Brazil delivering results that exceeded expectations, targeting over $100 million in direct revenue from European markets and on track to reach $1 billion in revenue by 2027. The company is reinvesting cost savings from workforce reductions and alternative payments into Tinder and Hinge product development and marketing to support the revitalization phase, expecting relatively flat total revenue in 2026 but with Adjusted EBITDA margins broadly in line with prior year. Management remains focused on restoring durable user engagement and relevance at Tinder while maintaining disciplined capital allocation, with plans to reduce diluted shares outstanding by approximately 7% in 2026 and return 100% of free cash flow to shareholders through buybacks and dividends.
| Metric | Target | Period |
|---|---|---|
| Full Year 2026 Total Revenue | $3.41 billion–$3.535 billion | FY 2026 |
| Full Year 2026 Adjusted EBITDA | $1.28 billion–$1.325 billion | FY 2026 |
| Full Year 2026 Free Cash Flow | $1.085 billion–$1.135 billion | FY 2026 |
| Hinge Direct Revenue 2026 | Low-to-mid-20% growth | FY 2026 |
| Hinge European Expansion Direct Revenue 2026 | Over $100 million | FY 2026 |
| Hinge Revenue Target | $1 billion | FY 2027 |
| Match Group Asia Direct Revenue 2026 | High single-digit decline | FY 2026 |
Full Year 2026 Total Revenue (FY 2026): “For the full year 2026, we expect Match Group to deliver total revenue of $3.41-$3.535 billion, approximately flat year-over-year at the midpoint of the range.”
Full Year 2026 Adjusted EBITDA (FY 2026): “We expect total Match Group Adjusted EBITDA of $1.28-$1.325 billion and Adjusted EBITDA margin of 37.5% at the midpoint of the ranges”
Full Year 2026 Free Cash Flow (FY 2026): “We expect free cash flow of $1.085 billion-$1.135 billion in 2026, an 8% year-over-year increase and representing 85% free cash flow conversion at the midpoint”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 3.5B | 3.5B | 3.5B | 3.4B | 3.2B | 3.0B |
| Net Income | 663M | 613M | 551M | 652M | 362M | 278M |
| EPS | $2.81 | $2.38 | $2.02 | $2.26 | $1.24 | $0.93 |
| Free Cash Flow | 1.0B | 1.0B | 882M | 829M | 477M | 833M |
| ROIC | 28.2% | 26.1% | 22.4% | 26.3% | 17.1% | 31.9% |
| Gross Margin | - | 72.8% | 71.5% | 71.6% | 69.9% | 71.9% |
| Debt/Equity | 0.00 | -15.67 | -60.46 | -196.55 | -10.66 | -19.29 |
| Dividends/Share | $0.78 | $0.76 | $0.19 | $0.00 | - | - |
| Operating Income | 936M | 873M | 823M | 917M | 515M | 852M |
| Operating Margin | 26.6% | 25.0% | 23.7% | 27.3% | 16.2% | 28.5% |
| ROE | 0.0% | -386.8% | - | -343.4% | -128.4% | -34.3% |
| Shares Outstanding | 234M | 258M | 273M | 288M | 292M | 299M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 3.1B | 3.2B | 3.1B | 3.3B | 1.7B | 2.1B | 2.4B | 3.0B | 3.2B | 3.4B | 3.5B | 3.5B | 3.5B |
| Gross Margin | 72.3% | 75.9% | 30.5% | 41.7% | 76.3% | 74.3% | 73.4% | 71.9% | 69.9% | 71.6% | 71.5% | 72.8% | N/A |
| R&D | 161M | 197M | 213M | 251M | 132M | 152M | 170M | 241M | 334M | 384M | 442M | 450M | 445M |
| SG&A | 444M | 512M | 530M | 719M | 182M | 256M | 311M | 415M | 436M | 414M | 439M | 486M | 463M |
| EBIT | 379M | 180M | -33M | 188M | 549M | 645M | 746M | 852M | 515M | 917M | 823M | 873M | 936M |
| Op. Margin | 12.2% | 5.6% | -1.0% | 5.7% | 31.8% | 31.5% | 31.2% | 28.5% | 16.2% | 27.3% | 23.7% | 25.0% | 26.6% |
| Net Income | 415M | 119M | -41M | 305M | 627M | 454M | 162M | 278M | 362M | 652M | 551M | 613M | 663M |
| Net Margin | 13.3% | 3.7% | -1.3% | 9.2% | 36.2% | 22.1% | 6.8% | 9.3% | 11.4% | 19.4% | 15.8% | 17.6% | 18.8% |
| Non-Recurring | 0 | 21M | 294M | 0 | 0 | 3.3M | 0 | 0 | 0 | 0 | 31M | 100K | 100K |
| Returns on Capital | |||||||||||||
| ROIC | 18.4% | 7.2% | -1.2% | 6.1% | 12.0% | 12.4% | 17.8% | 31.9% | 17.1% | 26.3% | 22.4% | 26.1% | 28.2% |
| ROE | 22.6% | 6.3% | -2.2% | 14.2% | 23.8% | 15.7% | 21.4% | -34.3% | -128.4% | -343.4% | N/A | -386.8% | 0.0% |
| ROA | 9.8% | 2.5% | -0.8% | 5.8% | 9.8% | 6.0% | 2.8% | 6.8% | 7.8% | 15.0% | 12.3% | 13.7% | 15.0% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 424M | 406M | 344M | 417M | 988M | 938M | 789M | 912M | 526M | 897M | 933M | 1.1B | 1.1B |
| Free Cash Flow | 367M | 344M | 266M | 341M | 957M | 899M | 746M | 833M | 477M | 829M | 882M | 1.0B | 1.0B |
| Owner Earnings | 261M | 174M | 101M | 36M | 910M | 805M | 637M | 696M | -88M | 555M | 578M | 755M | 505M |
| CapEx | 57M | 62M | 78M | 76M | 31M | 39M | 42M | 80M | 49M | 67M | 51M | 57M | 62M |
| Maint. CapEx | 126M | 126M | 139M | 116M | 12M | 43M | 49M | 70M | 410M | 110M | 87M | 67M | 331M |
| Growth CapEx | 0 | 0 | 0 | 0 | 19M | 0 | 0 | 10M | 0 | 0 | 0 | 0 | 0 |
| D&A | 126M | 126M | 139M | 116M | 12M | 43M | 49M | 70M | 410M | 110M | 87M | 67M | 331M |
| CapEx/OCF | 13.5% | 15.3% | 22.7% | 18.1% | 3.2% | 6.0% | 5.4% | 8.8% | 9.3% | 7.5% | 5.4% | 5.3% | 5.7% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 97M | 113M | 0 | 0 | 105M | 0 | 0 | 0 | 0 | 0 | 0 | 186M | 183M |
| Dividend Yield | 2.1% | 2.3% | N/A | N/A | 0.4% | N/A | N/A | N/A | N/A | N/A | N/A | 2.2% | 2.1% |
| Share Buybacks | 0 | 200M | 309M | 56M | 133M | 216M | 0 | 0 | 482M | 546M | 753M | 789M | 660M |
| Buyback Yield | N/A | 5.0% | 7.1% | 0.6% | 0.5% | 1.3% | 0.4% | N/A | 4.3% | 5.3% | 8.6% | 9.5% | 7.4% |
| Stock-Based Comp | 37M | 105M | 105M | 265M | 66M | 90M | 102M | 147M | 204M | 232M | 267M | 258M | 246M |
| Debt Repayment | 0 | 0 | 0 | 74M | 0 | 303M | 14M | 631M | 176M | 0 | 0 | 425M | 425M |
| Balance Sheet | |||||||||||||
| Net Debt | -71M | 246M | 184M | 1.7B | 1.9B | 2.4B | 3.9B | 3.1B | 3.3B | 3.0B | 2.9B | 2.9B | 3.0B |
| Cash & Equiv. | 990M | 1.5B | 1.3B | 273M | 187M | 466M | 739M | 815M | 572M | 862M | 966M | 1.0B | 1.0B |
| Long-Term Debt | 1.1B | 1.7B | 1.6B | 2.0B | 2.2B | 2.9B | 3.8B | 3.8B | 3.8B | 3.8B | 3.8B | 3.5B | 3.6B |
| Debt/Equity | 0.54 | 0.98 | 0.86 | 0.82 | 0.79 | 0.99 | -3.25 | -19.29 | -10.66 | -196.55 | -60.46 | -15.67 | 0.00 |
| Interest Coverage | 6.7 | 2.4 | -0.3 | 1.8 | 5.8 | 5.8 | 5.7 | 6.5 | 3.5 | 5.7 | 5.1 | 5.9 | 6.0 |
| Equity | 2.0B | 1.8B | 1.9B | 2.4B | 2.8B | 2.9B | -1.4B | -204M | -360M | -20M | -64M | -254M | -218M |
| Total Assets | 4.3B | 5.2B | 4.6B | 5.9B | 6.9B | 8.4B | 3.0B | 5.1B | 4.2B | 4.5B | 4.5B | 4.5B | 4.4B |
| Total Liabilities | 2.3B | 3.0B | 2.6B | 2.9B | 3.3B | 4.5B | 4.5B | 5.3B | 4.5B | 4.5B | 4.5B | 4.7B | -98M |
| Intangibles | 492M | 441M | 355M | 664M | 631M | 228M | 231M | 772M | 358M | 306M | 215M | 193M | 152M |
| Retained Earnings | 325M | 331M | 290M | 595M | 1.3B | 1.7B | -8.4B | -8.1B | -7.8B | -7.1B | -6.6B | -6.0B | -5.8B |
| Working Capital | 862M | 1.2B | 1.1B | 1.3B | 1.9B | 2.7B | 520M | 50M | 326M | 740M | 848M | 421M | 516M |
| Current Assets | 1.5B | 1.9B | 1.8B | 2.1B | 2.8B | 3.7B | 1.0B | 1.2B | 882M | 1.3B | 1.4B | 1.4B | 1.4B |
| Current Liabilities | 674M | 769M | 713M | 800M | 884M | 1.0B | 500M | 1.2B | 556M | 532M | 549M | 1.0B | 907M |
| Per Share Data | |||||||||||||
| EPS | 1.56 | 0.44 | -0.17 | 1.06 | 1.02 | 0.72 | 0.66 | 0.93 | 1.24 | 2.26 | 2.02 | 2.38 | 2.81 |
| Owner EPS | 0.98 | 0.65 | 0.42 | 0.12 | 1.48 | 1.27 | 2.59 | 2.33 | -0.30 | 1.93 | 2.12 | 2.93 | 2.16 |
| Book Value | 7.49 | 6.70 | 7.85 | 8.45 | 4.61 | 4.62 | -5.75 | -0.68 | -1.23 | -0.07 | -0.23 | -0.98 | -0.93 |
| Cash Flow/Share | 1.59 | 1.51 | 1.45 | 1.45 | 1.60 | 1.48 | 3.21 | 3.06 | 1.80 | 3.11 | 3.42 | 4.19 | 4.25 |
| Dividends/Share | 0.39 | 0.45 | 0.00 | 0.00 | 0.17 | 0.00 | 0.00 | N/A | N/A | 0.00 | 0.19 | 0.76 | 0.78 |
| Shares Out. | 265.9M | 269.5M | 238.2M | 287.7M | 616.7M | 633.3M | 246.0M | 298.6M | 291.9M | 288.3M | 272.9M | 257.8M | 233.9M |
| Valuation | |||||||||||||
| P/E Ratio | 12.2 | 33.2 | N/A | 31.7 | 46.6 | 39.0 | 219.5 | 138.0 | 30.6 | 15.7 | 15.9 | 13.5 | 13.5 |
| P/FCF | 11.9 | 9.9 | 14.1 | 24.3 | 26.2 | 57.1 | 47.8 | 46.0 | 23.3 | 12.3 | 9.9 | 8.1 | 8.7 |
| EV/EBIT | 13.2 | 23.5 | N/A | 60.4 | 56.7 | 29.1 | 51.9 | 48.6 | 27.8 | 14.4 | 14.1 | 12.9 | 12.6 |
| Price/Book | 2.5 | 2.2 | 2.3 | 4.0 | 10.3 | 5.7 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Sales | 1.8 | 1.7 | 1.2 | 1.9 | 16.6 | 6.5 | 9.8 | 14.4 | 6.7 | 3.3 | 2.6 | 2.4 | 2.5 |
| FCF Yield | 7.2% | 8.7% | 6.1% | 3.5% | 3.3% | 5.3% | 2.1% | 2.2% | 4.3% | 8.1% | 10.1% | 12.4% | 11.5% |
| Market Cap | 5.1B | 4.0B | 4.4B | 9.7B | 29.2B | 16.8B | 35.6B | 38.3B | 11.1B | 10.2B | 8.7B | 8.3B | 8.9B |
| Avg. Price | 17.71 | 17.91 | 13.38 | 19.15 | 39.92 | 64.78 | 94.91 | 143.54 | 73.21 | 38.22 | 33.07 | 32.14 | 37.91 |
| Year-End Price | 16.36 | 12.61 | 15.74 | 28.79 | 40.61 | 81.11 | 144.87 | 128.32 | 37.98 | 35.45 | 32.02 | 32.15 | 37.91 |
Match Group, Inc. passes 6 of 9 quality checks, suggesting mixed fundamentals.
Match Group, Inc. trades at 15.9x trailing earnings, compared to its 15-year median P/E of 30.6x, suggesting it is currently Cheap relative to its historical range. On a free-cash-flow basis, the stock trades at 9.5x vs a median of 23.8x. The company's 5-year average ROIC is 24.7% with a gross margin of 71.5%. Total shareholder yield (dividends + buybacks) is 9.5%. At current prices, the estimated annualized return to fair value is +6.3%.
Match Group, Inc. (MTCH) has a net profit margin of 17.6%. This is a healthy margin.
Match Group, Inc. (MTCH) generated $1.0 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Match Group, Inc. (MTCH) reported earnings per share (EPS) of $2.38 in its most recent fiscal year.
Match Group, Inc. (MTCH) has a return on equity (ROE) of -386.8%. A negative ROE may indicate losses or negative equity.
Match Group, Inc. (MTCH) has a 5-year average gross margin of 71.5%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 18 years of financial data for Match Group, Inc. (MTCH), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Match Group, Inc. (MTCH) has a book value per share of $-0.98, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects Tinder's user experience improvements and Face Check rollout to drive sustainable engagement recovery throughout 2026 and into 2027, with early indicators showing less revenue headwind than anticipated from product changes. Hinge is positioned for continued strong growth with expansion into Mexico and Brazil delivering results that exceeded expectations, targeting over $100 million in direct revenue from European markets and on track to reach $1 billion in revenue by 2027. The company is reinvesting cost savings from workforce reductions and alternative payments into Tinder and Hinge product development and marketing to support the revitalization phase, expecting relatively flat total revenue in 2026 but with Adjusted EBITDA margins broadly in line with prior year. Management remains focused on restoring durable user engagement and relevance at Tinder while maintaining disciplined capital allocation, with plans to reduce diluted shares outstanding by approximately 7% in 2026 and return 100% of free cash flow to shareholders through buybacks and dividends.
Based on recent SEC filings and earnings calls, Match Group, Inc. (MTCH) has provided the following forward guidance: Full Year 2026 Total Revenue: $3.41 billion–$3.535 billion (FY 2026); Full Year 2026 Adjusted EBITDA: $1.28 billion–$1.325 billion (FY 2026); Full Year 2026 Free Cash Flow: $1.085 billion–$1.135 billion (FY 2026); Hinge Direct Revenue 2026: Low-to-mid-20% growth (FY 2026); Hinge European Expansion Direct Revenue 2026: Over $100 million (FY 2026), plus 2 additional metrics.
Hinge Direct Revenue 2026 (FY 2026): “At Hinge, we expect continued strong direct revenue growth in the low-to-mid-20%”
Hinge European Expansion Direct Revenue 2026 (FY 2026): “We expect Hinge to deliver over $100 million of direct revenue in 2026 in its European expansion markets”
Hinge Revenue Target (FY 2027): “Hinge remains on track to achieve $1 billion in revenue in 2027 with continued margin expansion.”
Match Group Asia Direct Revenue 2026 (FY 2026): “At Match Group Asia, we expect direct revenue to decline in the high single digits”