A Business at a Glance
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TKO Group Holdings, Inc.
TKO
$15.6B
Mkt Cap
$180.62
+0.66%
TKO Group Holdings, Inc. (TKO) has a current P/E ratio of 79.9, compared to its historical median P/E of 62.3. The stock is currently considered Fair based on its historical valuation range.
TKO Group Holdings, Inc. (TKO) has a 5-year average return on invested capital (ROIC) of 11.3%. This indicates solid capital allocation.
TKO Group Holdings, Inc. (TKO) has a market capitalization of $35.2B. It is classified as a large-cap stock.
Yes, TKO Group Holdings, Inc. (TKO) pays a dividend with a trailing twelve-month yield of 0.60%. The company also returns capital through share buybacks, with a buyback yield of 2.47%.
Based on historical P/E analysis, TKO Group Holdings, Inc. (TKO) appears fair. The current P/E of 79.9 is 28% above its historical median of 62.3. The estimated fair value CAGR (P/E method) is -11.7%.
TKO Group Holdings, Inc. (TKO) operates in the Services-Amusement & Recreation Services industry, within the Consumer Cyclical sector.
TKO Group Holdings, Inc. (TKO) reported annual revenue of $4.7 billion in its most recent fiscal year, based on SEC EDGAR filings.
TKO is a premium sports and entertainment company that owns and operates UFC, the world's premier mixed martial arts organization; WWE, the global leader in sports entertainment; Professional Bull Riders (PBR), the world's premier bull riding organization; and holds a joint venture stake in Zuffa Boxing, a professional boxing promotion. The company monetizes its portfolio through four principal revenue streams: media rights and content licensing to broadcasters and distributors globally; live events and premium hospitality experiences through its On Location business; partnerships and marketing with major global brands; and consumer product licensing. TKO's business model combines owned intellectual property with extensive distribution capabilities and experiential offerings, reaching more than 1 billion households across 210 countries and territories through more than 500 live events annually. The company distributes content through long-term licensing agreements (typically three to ten years) with leading platforms including Paramount, Netflix, ESPN, and others, providing contractual recurring revenue with visibility and annual escalators. TKO's competitive advantages include its portfolio of complementary premium properties with favorable demographic profiles, deep management expertise in sports and entertainment, and integrated capabilities spanning media rights management, content production, live event promotion, and premium hospitality—enabling the company to maximize value across its assets and serve as a comprehensive partner to global rights holders and strategic partners.
【Media rights momentum driving growth】 Management expects continued strong performance from recently completed media rights agreements with Paramount for UFC and ESPN for WWE, which provide multi-year contractual revenue streams with annual escalators and represent a significant step-up in high-margin revenue beginning in 2026. The company anticipates double-digit growth in partnerships and live events as premium activations become increasingly coveted by major brands across diverse categories, with global partnerships revenue expected to reach $380 million to $420 million by 2030. Live events strategy, including financial incentive packages from governmental and private sources, is expected to continue generating positive momentum, with the company forecasting over $300 million in aggregate value from such packages in 2026. Zuffa Boxing is positioned as a strategic priority expected to create meaningful shareholder value over time through both management fees and equity appreciation, with plans for two to four super fights annually and a full year of management fee contributions in 2026 compared to a partial year in 2025.
| Metric | Target | Period |
|---|---|---|
| Revenue | $5.675 billion–$5.775 billion | FY2026 |
| Adjusted EBITDA | $2.24 billion–$2.29 billion | FY2026 |
| Partnerships revenue target | $380 million–$420 million | FY2030 |
| Financial incentive packages value | over $300 million | FY2026 |
Revenue (FY2026): “For full year 2026, we continue to target revenue of $5.675 billion-$5.775 billion”
Adjusted EBITDA (FY2026): “For full year 2026, we continue to target revenue of $5.675 billion-$5.775 billion and adjusted EBITDA of $2.24 billion-$2.29 billion”
Partnerships revenue target (FY2030): “we expect to achieve a range of $380 million-$420 million by the year 2030”
Financial incentive packages value (FY2026): “In 2026 across TKO, we expect to realize over $300 million in aggregate value from these packages”
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 | 5.1B | 4.7B | 4.9B | 3.2B | 1.1B | 1.0B |
| Net Income | 226M | 195M | 9.4M | -35M | 389M | 274M |
| EPS | $1.18 | $2.26 | $0.02 | $-0.43 | - | - |
| Free Cash Flow | 0 | 1.3B | 574M | 243M | 498M | 440M |
| ROIC | 9.4% | 11.3% | 0.3% | 5.6% | 28.0% | - |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 1.37 | 1.02 | 0.69 | 0.67 | 4.89 | - |
| Dividends/Share | $1.09 | $2.14 | - | $3.86 | - | - |
| Operating Income | 936M | 835M | 31M | 376M | 544M | 391M |
| Operating Margin | 18.5% | 17.6% | 0.6% | 11.7% | 47.7% | 37.9% |
| ROE | 6.7% | 5.0% | 0.2% | -1.5% | 42.8% | - |
| Shares Outstanding | 195M | 86M | 470M | 82M | - | - |
| Metric | ||||||
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | 1.0B | 1.1B | 3.2B | 4.9B | 4.7B | 5.1B |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 242M | 210M | 1.0B | 1.8B | 1.5B | 1.5B |
| EBIT | 391M | 544M | 376M | 31M | 835M | 936M |
| Op. Margin | 37.9% | 47.7% | 11.7% | 0.6% | 17.6% | 18.5% |
| Net Income | 274M | 389M | -35M | 9.4M | 195M | 226M |
| Net Margin | 26.5% | 34.1% | -1.1% | 0.2% | 4.1% | 4.5% |
| Non-Recurring | 0 | 0 | 49M | 17M | -120K | -120K |
| Returns on Capital | ||||||
| ROIC | N/A | 28.0% | 5.6% | 0.3% | 11.3% | 9.4% |
| ROE | N/A | 42.8% | -1.5% | 0.2% | 5.0% | 6.7% |
| ROA | N/A | 21.4% | -0.4% | 0.1% | 1.3% | 1.4% |
| Cash Flow | ||||||
| Op. Cash Flow | 441M | 502M | 266M | 586M | 1.3B | 1.8B |
| Free Cash Flow | 440M | 498M | 243M | 574M | 1.3B | 0 |
| Owner Earnings | 314M | 418M | -22M | 25M | 683M | 1.2B |
| CapEx | 1.7M | 3.8M | 23M | 12M | 0 | 0 |
| Maint. CapEx | 63M | 60M | 224M | 458M | 485M | 528M |
| Growth CapEx | 0 | 0 | 0 | 0 | N/A | 0 |
| D&A | 63M | 60M | 224M | 458M | 485M | 528M |
| CapEx/OCF | N/A | 2.5% | 10.4% | 20.3% | 9.9% | 0.0% |
| Capital Allocation | ||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 185M | 213M |
| Dividend Yield | N/A | N/A | N/A | N/A | 1.3% | 0.6% |
| Share Buybacks | 0 | 0 | 100M | 165M | 867M | 867M |
| Buyback Yield | 0.0% | N/A | 0.7% | 0.6% | 2.1% | 2.5% |
| Stock-Based Comp | 64M | 24M | 65M | 103M | 118M | 127M |
| Debt Repayment | 208M | 83M | 177M | 2.9B | 70M | 70M |
| Balance Sheet | ||||||
| Net Debt | -667M | 2.6B | 2.5B | 2.2B | 3.0B | 3.9B |
| Cash & Equiv. | 875M | 181M | 236M | 620M | 831M | 789M |
| Long-Term Debt | 208M | 2.7B | 2.7B | 2.7B | 3.7B | 4.6B |
| Debt/Equity | N/A | 4.89 | 0.67 | 0.69 | 1.02 | 1.37 |
| Interest Coverage | 3.8 | 3.9 | 1.6 | 0.1 | 4.1 | 4.3 |
| Equity | N/A | 569M | 4.1B | 4.1B | 3.7B | 3.4B |
| Total Assets | N/A | 3.6B | 12.7B | 15.1B | 15.5B | 16.0B |
| Total Liabilities | 26M | 3.0B | 3.8B | 5.0B | 6.2B | 7.5B |
| Intangibles | N/A | 476M | 3.6B | 3.6B | 3.3B | 3.2B |
| Retained Earnings | N/A | N/A | -135M | -292M | -797M | -1.4B |
| Working Capital | N/A | 38M | 20M | 115M | 482M | 743M |
| Current Assets | 16M | 268M | 492M | 1.5B | 2.3B | 2.9B |
| Current Liabilities | N/A | 230M | 472M | 1.4B | 1.8B | 2.2B |
| Per Share Data | ||||||
| EPS | N/A | N/A | -0.43 | 0.02 | 2.26 | 1.18 |
| Owner EPS | N/A | N/A | -0.27 | 0.05 | 7.90 | 5.97 |
| Book Value | N/A | N/A | 50.16 | 8.70 | 43.23 | 17.35 |
| Cash Flow/Share | N/A | N/A | 3.25 | 1.25 | 14.87 | 3.88 |
| Dividends/Share | N/A | N/A | 3.86 | N/A | 2.14 | 1.09 |
| Shares Out. | N/A | N/A | 81.9M | 470.4M | 86.5M | 194.6M |
| Valuation | ||||||
| P/E Ratio | N/A | 28.4 | N/A | N/A | 96.2 | 153.7 |
| P/FCF | N/A | N/A | 27.1 | 116.6 | 14.6 | N/A |
| EV/EBIT | N/A | 24.7 | 35.9 | 942.3 | 53.1 | 41.7 |
| Price/Book | N/A | 19.4 | 3.4 | 6.7 | 11.3 | 10.4 |
| Price/Sales | N/A | 9.3 | 9.1 | 4.2 | 7.0 | 6.9 |
| FCF Yield | N/A | 4.5% | 1.8% | 2.1% | 3.0% | N/A |
| Market Cap | 0 | 11.0B | 13.8B | 27.6B | 42.2B | 35.2B |
| Avg. Price | 0.00 | 61.39 | 89.14 | 106.02 | 171.02 | 180.62 |
| Year-End Price | 0.00 | 64.04 | 80.43 | 142.23 | 217.44 | 180.62 |
TKO Group Holdings, Inc. passes 5 of 9 quality checks, suggesting mixed fundamentals.
TKO Group Holdings, Inc. trades at 79.9x trailing earnings, compared to its 15-year median P/E of 62.3x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 12.2x vs a median of 20.8x. The company's 5-year average ROIC is 11.3%. Total shareholder yield (dividends + buybacks) is 3.1%. At current prices, the estimated annualized return to fair value is +16.8%.
TKO Group Holdings, Inc. (TKO) has a net profit margin of 4.1%. This is a modest margin.
TKO Group Holdings, Inc. (TKO) generated $1.3 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
TKO Group Holdings, Inc. (TKO) has a debt-to-equity ratio of 1.02. This indicates moderate leverage.
TKO Group Holdings, Inc. (TKO) reported earnings per share (EPS) of $2.26 in its most recent fiscal year.
TKO Group Holdings, Inc. (TKO) has a return on equity (ROE) of 5.0%. This indicates moderate shareholder returns.
The Ledger Terminal provides 5 years of financial data for TKO Group Holdings, Inc. (TKO), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
TKO Group Holdings, Inc. (TKO) has a book value per share of $43.23, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects continued strong performance from recently completed media rights agreements with Paramount for UFC and ESPN for WWE, which provide multi-year contractual revenue streams with annual escalators and represent a significant step-up in high-margin revenue beginning in 2026. The company anticipates double-digit growth in partnerships and live events as premium activations become increasingly coveted by major brands across diverse categories, with global partnerships revenue expected to reach $380 million to $420 million by 2030. Live events strategy, including financial incentive packages from governmental and private sources, is expected to continue generating positive momentum, with the company forecasting over $300 million in aggregate value from such packages in 2026. Zuffa Boxing is positioned as a strategic priority expected to create meaningful shareholder value over time through both management fees and equity appreciation, with plans for two to four super fights annually and a full year of management fee contributions in 2026 compared to a partial year in 2025.
Based on recent SEC filings and earnings calls, TKO Group Holdings, Inc. (TKO) has provided the following forward guidance: Revenue: $5.675 billion–$5.775 billion (FY2026); Adjusted EBITDA: $2.24 billion–$2.29 billion (FY2026); Partnerships revenue target: $380 million–$420 million (FY2030); Financial incentive packages value: over $300 million (FY2026).