TKO Group (TKO) financial statements
TKO Group reported revenue of $4.7B in fiscal 2025, up 46.4% a year over 4 years.
Net income was $195M and the operating margin 17.6%, against 37.9% in 2021.
Free cash flow was $1.3B, and the company returned $185M in dividends and $867M in net buybacks.
The diluted share count rose 134% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from TKO Group's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $1.0B | $1.1B | $3.2B | $4.9B | $4.7B |
| Selling, general and admin | $242M | $210M | $1.0B | $1.8B | $1.5B |
| Operating income | $391M | $544M | $376M | $31M | $835M |
| Interest expense | $102M | $140M | $230M | $236M | $203M |
| Pre-tax income | $289M | $404M | $167M | -$210M | $607M |
| Income tax | $16M | $14M | $33M | $37M | $74M |
| Net income | $274M | $389M | -$35M | $9M | $195M |
| EPS (diluted) | — | — | -$0.43 | $0.02 | $2.26 |
| Diluted shares | — | — | 83M | 172M | 194M |
| Operating margin | 37.9% | 47.7% | 11.7% | 0.6% | 17.6% |
| Net margin | 26.5% | 34.1% | -1.1% | 0.2% | 4.1% |
Balance sheet
Fiscal years, from TKO Group's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash and short-term investments | $875M | $181M | $236M | $620M | $831M |
| Receivables | — | $45M | $135M | $423M | $558M |
| Total current assets | — | $268M | $492M | $1.5B | $2.3B |
| Property, plant and equipment | — | $175M | $608M | $630M | $640M |
| Goodwill | — | $2.6B | $8.4B | $8.4B | $8.4B |
| Total assets | — | $3.6B | $12.7B | $15.1B | $15.5B |
| Total current liabilities | — | $230M | $472M | $1.4B | $1.8B |
| Long-term debt | — | $2.7B | $2.7B | $2.7B | $3.7B |
| Total liabilities | — | $3.0B | $3.8B | $5.0B | $6.2B |
| Shareholders' equity | $1.2B | $569M | $4.1B | $4.1B | $3.7B |
| Net debt | -$875M | $2.6B | $2.5B | $2.1B | $2.9B |
Cash flow
Fiscal years, from TKO Group's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $441M | $502M | $266M | $586M | $1.3B |
| Capital spending | $11M | $12M | $25M | $14M | $15M |
| Free cash flow | $430M | $489M | $241M | $572M | $1.3B |
| Stock-based compensation | $64M | $24M | $65M | $103M | $118M |
| Dividends paid | — | — | — | — | $185M |
| Share buybacks (net) | — | — | -$100M | -$165M | -$867M |
| Net borrowing | $386M | -$83M | -$34M | $7M | $982M |
| Free cash flow margin | 41.7% | 42.9% | 7.5% | 11.7% | 26.8% |
| Dividends per share | — | — | — | — | $0.95 |
Questions
What was TKO Group's revenue in 2025?
$4.7B in fiscal 2025, from its 10-K filing.
How much free cash flow does TKO Group generate?
$1.3B in fiscal 2025 (operating cash flow minus capital spending).
From TKO Group's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.