Match (MTCH) financial statements
Match reported revenue of $3.5B in fiscal 2025, up 1.2% a year over 9 years.
Net income was $613M and the operating margin 25.0%, against -1.0% in 2016.
Free cash flow was $1.0B, and the company returned $186M in dividends and $789M in net buybacks.
The diluted share count rose 228% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Match's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.1B | $3.3B | $4.3B | $4.8B | $2.4B | $3.0B | $3.2B | $3.4B | $3.5B | $3.5B |
| Cost of revenue | $756M | $651M | $911M | $1.1B | $636M | $839M | $960M | $954M | $991M | $948M |
| Gross profit | $2.4B | $2.7B | $3.4B | $3.6B | $1.8B | $2.1B | $2.2B | $2.4B | $2.5B | $2.5B |
| Research and development | $213M | $251M | $132M | $152M | $170M | $241M | $334M | $384M | $442M | $450M |
| Selling, general and admin | $1.8B | $2.1B | $602M | $684M | $791M | $981M | $970M | $1000M | $1.1B | $1.1B |
| Operating income | -$33M | $188M | $549M | $645M | $746M | $852M | $515M | $917M | $823M | $873M |
| Interest expense | $109M | $105M | $95M | $111M | $131M | $130M | $146M | $160M | $160M | $148M |
| Pre-tax income | -$81M | $67M | $462M | $532M | $631M | $256M | $377M | $777M | $704M | $746M |
| Income tax | -$65M | -$291M | $11M | $15M | $43M | -$20M | $15M | $125M | $153M | $133M |
| Net income | -$41M | $305M | $627M | $454M | $162M | $278M | $362M | $652M | $551M | $613M |
| EPS (diluted) | -$0.52 | $3.18 | $3.05 | $2.15 | $0.66 | $0.93 | $1.24 | $2.26 | $2.02 | $2.38 |
| Diluted shares | 80M | 85M | 197M | 202M | 256M | 305M | 295M | 293M | 279M | 262M |
| Gross margin | 75.9% | 80.3% | 78.6% | 76.3% | 73.4% | 71.9% | 69.9% | 71.6% | 71.5% | 72.8% |
| Operating margin | -1.0% | 5.7% | 12.9% | 13.6% | 31.2% | 28.5% | 16.2% | 27.3% | 23.7% | 25.0% |
| Net margin | -1.3% | 9.2% | 14.7% | 9.5% | 6.8% | 9.3% | 11.4% | 19.4% | 15.8% | 17.6% |
Balance sheet
Fiscal years, from Match's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $1.4B | $278M | $311M | $486M | $739M | $827M | $581M | $869M | $971M | $1.0B |
| Receivables | $220M | $304M | $279M | $116M | $137M | $188M | $192M | $299M | $325M | $303M |
| Total current assets | $1.8B | $2.1B | $2.8B | $3.7B | $1.0B | $1.2B | $882M | $1.3B | $1.4B | $1.4B |
| Property, plant and equipment | $306M | $315M | $319M | $101M | $108M | $163M | $176M | $195M | $158M | $131M |
| Goodwill | $1.9B | $2.6B | $1.2B | $1.2B | $1.3B | $2.4B | $2.3B | $2.3B | $2.3B | $2.3B |
| Total assets | $4.6B | $5.9B | $6.9B | $8.4B | $3.0B | $5.1B | $4.2B | $4.5B | $4.5B | $4.5B |
| Total current liabilities | $713M | $800M | $884M | $1.0B | $500M | $1.2B | $556M | $532M | $549M | $1.0B |
| Long-term debt | $1.6B | $2.0B | $2.2B | $2.9B | $3.8B | $3.8B | $3.8B | $3.8B | $3.8B | $3.5B |
| Total liabilities | $2.6B | $2.9B | $3.4B | $4.7B | $4.5B | $5.3B | $4.5B | $4.5B | $4.5B | $4.7B |
| Shareholders' equity | $1.9B | $2.4B | $2.8B | $2.9B | -$1.4B | -$204M | -$360M | -$20M | -$64M | -$254M |
| Net debt | $273M | $1.7B | $2.1B | $2.4B | $3.1B | $3.1B | $3.3B | $3.0B | $2.9B | $2.9B |
Cash flow
Fiscal years, from Match's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $344M | $417M | $988M | $938M | $789M | $912M | $526M | $897M | $933M | $1.1B |
| Capital spending | $78M | $76M | $31M | $39M | $42M | $80M | $49M | $67M | $51M | $57M |
| Free cash flow | $266M | $341M | $957M | $899M | $746M | $833M | $477M | $829M | $882M | $1.0B |
| Stock-based compensation | $105M | $265M | $66M | $90M | $102M | $147M | $204M | $232M | $267M | $258M |
| Dividends paid | $0 | $0 | $105M | $0 | $0 | — | — | $0 | $0 | $186M |
| Share buybacks (net) | -$309M | -$56M | -$133M | -$216M | $0 | $0 | -$482M | -$546M | -$753M | -$789M |
| Net borrowing | $400M | -$74M | $0 | -$303M | — | — | — | $0 | $0 | -$425M |
| Free cash flow margin | 8.5% | 10.3% | 22.4% | 18.9% | 31.2% | 27.9% | 14.9% | 24.7% | 25.4% | 29.4% |
| Dividends per share | — | — | $0.53 | — | — | — | — | — | — | $0.71 |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for MTCH.
Open MTCH in InvestinglyQuestions
What was Match's revenue in 2025?
$3.5B in fiscal 2025, from its 10-K filing.
How much free cash flow does Match generate?
$1.0B in fiscal 2025 (operating cash flow minus capital spending).
From Match's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.