TTWO (TTWO) financial statements
TTWO reported revenue of $6.7B in fiscal 2026, up 15.8% a year over 9 years.
Net income was -$298M and the operating margin -1.6%, against 5.1% in 2017.
Free cash flow was $462M.
The diluted share count rose 95% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from TTWO's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.8B | $1.8B | $2.7B | $3.1B | $3.4B | $3.5B | $5.3B | $5.3B | $5.6B | $6.7B |
| Cost of revenue | $1.0B | $898M | $1.5B | $1.5B | $1.5B | $1.5B | $3.1B | $3.1B | $2.6B | $2.8B |
| Gross profit | $757M | $895M | $1.1B | $1.5B | $1.8B | $2.0B | $2.3B | $2.2B | $3.1B | $3.8B |
| Selling, general and admin | $497M | $504M | $673M | $777M | $835M | $1.0B | $2.4B | $2.3B | $2.6B | $2.6B |
| Operating income | $91M | $136M | $207M | $425M | $629M | $474M | -$1.2B | -$3.6B | -$4.4B | -$104M |
| Interest expense | — | — | — | — | — | — | $130M | $141M | $167M | $151M |
| Pre-tax income | $77M | $137M | $233M | $458M | $678M | $465M | -$1.3B | -$3.7B | -$4.5B | -$198M |
| Income tax | $10M | -$37M | -$101M | $54M | $89M | $47M | -$213M | $41M | -$12M | $100M |
| Net income | $67M | $174M | $334M | $404M | $589M | $418M | -$1.1B | -$3.7B | -$4.5B | -$298M |
| EPS (diluted) | $0.72 | $1.54 | $2.90 | $3.54 | $5.09 | $3.58 | -$7.03 | -$22.01 | -$25.58 | -$1.62 |
| Diluted shares | 94M | 113M | 115M | 114M | 116M | 117M | 160M | 170M | 175M | 184M |
| Gross margin | 42.5% | 49.9% | 42.9% | 50.1% | 54.5% | 56.2% | 42.7% | 41.9% | 54.4% | 57.2% |
| Operating margin | 5.1% | 7.6% | 7.7% | 13.8% | 18.7% | 13.5% | -21.8% | -67.1% | -77.9% | -1.6% |
| Net margin | 3.8% | 9.7% | 12.5% | 13.1% | 17.5% | 11.9% | -21.0% | -70.0% | -79.5% | -4.5% |
Balance sheet
Fiscal years, from TTWO's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $1.4B | $1.4B | $1.6B | $2.0B | $2.7B | $2.6B | $1.0B | $776M | $1.5B | $2.0B |
| Receivables | $220M | $248M | $396M | $593M | $553M | $579M | $763M | $680M | $771M | $737M |
| Inventory | $16M | $15M | $28M | $19M | $18M | $13M | — | — | — | — |
| Total current assets | $2.2B | $2.4B | $2.8B | $3.5B | $4.2B | $3.9B | $2.5B | $2.3B | $2.8B | $3.2B |
| Property, plant and equipment | $67M | $102M | $128M | $132M | $149M | $242M | $403M | $411M | $444M | $445M |
| Goodwill | $359M | $400M | $382M | $386M | $535M | $675M | $6.8B | $4.4B | $1.1B | $1.1B |
| Total assets | $3.1B | $3.7B | $4.2B | $4.9B | $6.0B | $6.5B | $15.9B | $12.2B | $9.2B | $9.4B |
| Total current liabilities | $1.7B | $1.7B | $2.0B | $2.0B | $2.2B | $2.1B | $3.9B | $2.4B | $3.6B | $2.6B |
| Long-term debt | $252M | $8M | $0 | — | — | $0 | $1.7B | $3.1B | $2.5B | $2.5B |
| Total liabilities | $2.1B | $2.2B | $2.2B | $2.4B | $2.7B | $2.7B | $6.8B | $6.5B | $7.0B | $5.9B |
| Shareholders' equity | $1.0B | $1.5B | $2.0B | $2.5B | $3.3B | $3.8B | $9.0B | $5.7B | $2.1B | $3.5B |
| Net debt | -$691M | -$801M | -$827M | -$1.4B | -$1.4B | -$1.7B | $906M | $2.3B | $1.1B | $942M |
Cash flow
Fiscal years, from TTWO's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $408M | $494M | $844M | $686M | $912M | $258M | $1M | -$16M | -$45M | $624M |
| Capital spending | $21M | $62M | $67M | $53M | $69M | $159M | $204M | $142M | $169M | $163M |
| Free cash flow | $387M | $432M | $777M | $632M | $843M | $99M | -$203M | -$158M | -$215M | $462M |
| Stock-based compensation | $82M | $116M | $248M | $258M | $110M | $183M | $318M | $336M | $324M | $305M |
| Share buybacks (net) | $0 | -$155M | -$362M | $0 | $0 | -$200M | $0 | $0 | — | — |
| Net borrowing | — | — | — | — | $0 | $0 | $2.1B | $1.3B | $599M | $0 |
| Free cash flow margin | 21.7% | 24.1% | 29.1% | 20.5% | 25.0% | 2.8% | -3.8% | -2.9% | -3.8% | 6.9% |
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Open TTWO in InvestinglyQuestions
What was TTWO's revenue in 2026?
$6.7B in fiscal 2026, from its 10-K filing.
How much free cash flow does TTWO generate?
$462M in fiscal 2026 (operating cash flow minus capital spending).
From TTWO's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.