Tearsheet

TKO (TKO)

Market Price (3/7/2026): $202.2 | Market Cap: $15.8 Bil
Sector: Communication Services | Industry: Movies & Entertainment

TKO (TKO)

Market Price (3/7/2026): $202.2
Market Cap: $15.8 Bil
Sector: Communication Services
Industry: Movies & Entertainment

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.3%, Dividend Yield is 4.0%, FCF Yield is 7.3%	Expensive valuation multiples P/EPrice/Earnings or Price/(Net Income) is 81x
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 27%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 24%	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -3.1%
2	Low stock price volatility Vol 12M is 33%	Key risks TKO key risks include [1] challenges in integrating its core WWE and UFC assets and [2] a significant reliance on marquee talent.
3	Megatrend and thematic drivers Megatrends include Digital Content & Streaming, Experience Economy & Premiumization, and Social Media & Creator Economy. Themes include Video Streaming, Show more.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.3%, Dividend Yield is 4.0%, FCF Yield is 7.3%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 27%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 24%
2	Low stock price volatility Vol 12M is 33%
3	Megatrend and thematic drivers Megatrends include Digital Content & Streaming, Experience Economy & Premiumization, and Social Media & Creator Economy. Themes include Video Streaming, Show more.
4	Expensive valuation multiples P/EPrice/Earnings or Price/(Net Income) is 81x
5	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -3.1%
6	Key risks TKO key risks include [1] challenges in integrating its core WWE and UFC assets and [2] a significant reliance on marquee talent.

Valuation, Metrics & Events

	3/7/26	2025	2024	2023	2022
Share Price CYE	$202.20	$209.00	$142.11	$81.58	�
Market Cap CYE ($ Bil)	15.8	16.4	11.5	6.7	-
Total Debt ($ Bil)	4.1	4.1	3.1	3.0	2.8
Total Cash ($ Bil)	0.8	0.8	0.6	0.2	0.2
Enterprise Value ($ Bil)	19.1	20.5	14.6	9.7
Valuation Ratios
P/S TTM	3.3	3.5	2.4	2.1	-
P/EBIT TTM	19.6	20.2	450.8	16.8	-
P/E TTM	81.1	83.8	1,226.0	29.8	-
P/FCF TTM	13.7	14.1	24.7	38.7	-
Sector Ratios
P/S TTM (Sector)	1.0	1.2	1.1	1.2	1.2
P/EBIT TTM (Sector)	2.3	2.1	0.5	1.2	1.9
P/E TTM (Sector)	-0.5	-0.7	-0.6	-0.4	-0.6
P/FCF TTM (Sector)	7.1	8.2	6.5	6.1	3.4

	3/7/26	2025	2024
Share Price CYE	$202.20	$209.00	$142.11
Market Cap CYE ($ Bil)	15.8	16.4	11.5
Total Debt ($ Bil)	4.1	4.1	3.1
Total Cash ($ Bil)	0.8	0.8	0.6
Enterprise Value ($ Bil)	19.1	20.5	14.6
Valuation Ratios
P/S TTM	3.3	3.5	2.4
P/EBIT TTM	19.6	20.2	450.8
P/E TTM	81.1	83.8	1,226.0
P/FCF TTM	13.7	14.1	24.7
Sector Ratios
P/S TTM (Sector)	1.0	1.2	1.1
P/EBIT TTM (Sector)	2.3	2.1	0.5
P/E TTM (Sector)	-0.5	-0.7	-0.6
P/FCF TTM (Sector)	7.1	8.2	6.5

	TKO	S&P 500
REVENUE GROWTH
Rev LTM ($ Bil)	4.7
Rev Chg Q	11.9%	7.1%
Rev Chg LTM	-3.1%	6.6%
Rev Chg 3Y Avg	77.1%	5.7%
PROFITABILITY	FAIR
Op Inc LTM ($ Bil)	0.8
CFO LTM ($ Bil)	1.3
Net Inc LTM ($ Bil)	0.2
Op Mgn LTM	17.6%	18.8%
CFO/Rev LTM	27.2%	20.6%
Net Inc Mgn	4.1%	12.8%
VALUATION	MODERATE
P/S	3.3	3.3
P/CFO	12.3	16.0
P/FCF	13.7	20.8
P/E	81.1	24.7
STABILITY	GOOD
Debt/Equity	0.26	0.21
Cash/Assets	0.05	0.07

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Metric	Value	Date	Source
WWE SmackDown Viewership	1,147,000 viewers	10242025	Link
UFC Fight Night Viewership	1,036,000 people	8162025	Link
WWE Average Live Event Attendance (Year-to-Date)	12,272	11012025	Link
UFC 314 Live Event Attendance	18,287	8132025	Link
UFC Total Social Media Followers	approximately 318 million	10282025	Link
WWE Total Social Media Followers	approximately 1 billion	11042025	Link
WWE Instagram Engagement Rate	0.14%	11012025	Link

Recent
2/25/2026	Earnings Release	Rev: $1.0 Bil (A) vs. $1.0 Bil (E) EPS: -0.08 (A) vs. $0.24 (E)
Upcoming
3/16/2026	Dividend	Amount: $0.78 Payment On: 3/31/2026
5/07/2026	Earnings Release	Rev: $1.0 Bil (E) EPS: $0.58 (E)

Price Chart

Return (1M):

Why The Stock Moved

Qualitative Assessment

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TKO (TKO) stock has gained about 5% since 11/30/2025 because of the following key factors:

1. TKO Group Holdings exceeded revenue expectations and demonstrated strong Adjusted EBITDA growth in its Fourth Quarter 2025 results. The company reported revenue of $1.038 billion, surpassing analyst estimates of $1.02 billion and marking a 12% increase year-over-year. Adjusted EBITDA rose by 30% to $281.2 million compared to the prior year.

2. The company announced a substantial new capital return program. TKO Group Holdings disclosed its intention to launch up to $1 billion in share repurchases starting in March 2026, indicating management's confidence and a commitment to enhancing shareholder value.

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Stock Movement Drivers

Fundamental Drivers

The 4.9% change in TKO stock from 11/30/2025 to 3/6/2026 was primarily driven by a 18.1% change in the company's P/E Multiple.

(LTM values as of)	11302025	3062026	Change
Stock Price ($)	193.16	202.68	4.9%
Change Contribution By:
Total Revenues ($ Mil)	4,625	4,735	2.4%
Net Income Margin (%)	4.9%	4.1%	-16.6%
P/E Multiple	68.8	81.3	18.1%
Shares Outstanding (Mil)	82	78	4.0%
Cumulative Contribution			4.9%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 3/6/2026

	Return	Correlation
TKO	4.9%
Market (SPY)	-1.6%	12.6%
Sector (XLC)	1.8%	22.8%

Fundamental Drivers

The 7.7% change in TKO stock from 8/31/2025 to 3/6/2026 was primarily driven by a 11.5% change in the company's P/E Multiple.

(LTM values as of)	8312025	3062026	Change
Stock Price ($)	188.14	202.68	7.7%
Change Contribution By:
Total Revenues ($ Mil)	5,046	4,735	-6.2%
Net Income Margin (%)	4.2%	4.1%	-1.3%
P/E Multiple	72.9	81.3	11.5%
Shares Outstanding (Mil)	82	78	4.3%
Cumulative Contribution			7.7%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 3/6/2026

	Return	Correlation
TKO	7.7%
Market (SPY)	4.5%	20.0%
Sector (XLC)	5.8%	31.5%

Fundamental Drivers

The 36.2% change in TKO stock from 2/28/2025 to 3/6/2026 was primarily driven by a 2042.4% change in the company's Net Income Margin (%).

(LTM values as of)	2282025	3062026	Change
Stock Price ($)	148.76	202.68	36.2%
Change Contribution By:
Total Revenues ($ Mil)	4,884	4,735	-3.1%
Net Income Margin (%)	0.2%	4.1%	2042.4%
P/E Multiple	1,283.4	81.3	-93.7%
Shares Outstanding (Mil)	81	78	3.6%
Cumulative Contribution			36.2%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2025 to 3/6/2026

	Return	Correlation
TKO	36.2%
Market (SPY)	14.2%	44.3%
Sector (XLC)	16.2%	50.9%

Fundamental Drivers

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Market Drivers

2/28/2023 to 3/6/2026

	Return	Correlation
TKO
Market (SPY)	76.0%	34.5%
Sector (XLC)	126.0%	36.2%

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
TKO Return	-	-	-18%	74%	49%	1%	116%
Peers Return	20%	-22%	13%	33%	51%	-0%	114%
S&P 500 Return	27%	-19%	24%	23%	16%	-0%	82%
Monthly Win Rates [3]
TKO Win Rate	-	-	25%	83%	67%	33%
Peers Win Rate	50%	35%	43%	63%	55%	47%
S&P 500 Win Rate	75%	42%	67%	75%	67%	33%
Max Drawdowns [4]
TKO Max Drawdown	-	-	-27%	-7%	-2%	-7%
Peers Max Drawdown	-12%	-30%	-4%	-11%	-16%	-10%
S&P 500 Max Drawdown	-1%	-25%	-1%	-2%	-15%	-1%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: FWONA, MSGS, LYV, WBD, FOXA.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/6/2026 (YTD)

How Low Can It Go

TKO has limited trading history. Below is the Communication Services sector ETF (XLC) in its place.

Unique Key	Event	XLC	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-47.2%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	89.5%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	602 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-30.1%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	43.2%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	112 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-24.8%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	32.9%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	326 days	120 days

Compare to FWONA, MSGS, LYV, WBD, FOXA

In The Past

The Communication Services Select Sector SPDR Fund's stock fell -47.2% during the 2022 Inflation Shock from a high on 9/1/2021. A -47.2% loss requires a 89.5% gain to breakeven.

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About TKO (TKO)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

TKO Group Holdings, Inc. operates as a sports and entertainment company. It operates through four segments: Media and Content, Live Events, Sponsorships, and Consumer Products Licensing. The company produces live events, television programs, and long-form and short-form video content across various platforms, including broadcast, pay television, and streaming, as well as digital and social media across approximately 170 countries. It is involved in the merchandising of video games, apparel, equipment, trading cards, memorabilia, digital goods, and toys, as well as sale of travel packages and tickets. The company engages in the corporate sponsorships and advertising business, which offers sale of in-venue and in-broadcast advertising assets, content product integration, and digital impressions. TKO Group Holdings, Inc. is based in New York, New York. TKO Group Holdings, Inc. is a subsidiary of Endeavor Group Holdings, Inc.

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Here are 1-2 brief analogies to describe TKO:

TKO is like a Disney focused purely on combat sports, owning the global powerhouses of UFC and WWE.
TKO is like Live Nation Entertainment for combat sports, producing and promoting the world's biggest UFC and WWE events.

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Ultimate Fighting Championship (UFC): Promotes and produces mixed martial arts (MMA) events, broadcasting them globally.
World Wrestling Entertainment (WWE): Produces and distributes professional wrestling content, including live events, television programming, and digital media.

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TKO Group Holdings (NYSE: TKO) primarily generates its revenue through business-to-business (B2B) contracts, particularly with major media companies for broadcast and streaming rights of its Ultimate Fighting Championship (UFC) and World Wrestling Entertainment (WWE) content. While it also sells directly to individuals through live event tickets, merchandise, and pay-per-view purchases, the most significant and recurring revenue streams come from corporate partnerships.

Its major customers (other companies) include:

The Walt Disney Company (NYSE: DIS): Through its ESPN and ESPN+ platforms, Disney holds exclusive domestic broadcast rights for UFC events, including many Fight Night events and pay-per-view distribution. This represents a cornerstone of UFC's revenue.
Comcast (NASDAQ: CMCSA): Through its NBCUniversal division, Comcast has significant deals for WWE content. This includes domestic broadcast rights for WWE Raw on USA Network (and future SmackDown starting October 2024) and streaming rights for WWE Network content on Peacock.
Netflix (NASDAQ: NFLX): Beginning in January 2025, Netflix will become a major customer, holding global broadcast rights for WWE Raw outside of the U.S., U.K., and India. This represents a significant, long-term revenue stream for TKO and a strategic partnership for global expansion.

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Endeavor Group Holdings, Inc. (EDR)
Fanatics

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Ariel Emanuel, Chief Executive Officer Mr. Emanuel became the Chief Executive Officer and a director of TKO Group Holdings, Inc. on September 12, 2023, and was appointed Executive Chair in February 2024. He is also the CEO and executive chairman of Endeavor, a global entertainment and media agency. Mr. Emanuel co-founded the Endeavor Talent Agency in 1995 and was instrumental in orchestrating its 2009 merger with the William Morris Agency to form WME. In 2012, WME forged a strategic partnership with Silver Lake, a global leader in private investments in technology. This was followed by the acquisition of IMG in 2014 and UFC in 2016. Mr. Emanuel orchestrated the 2023 merger that formed TKO, uniting WWE and UFC, solidifying his reputation as a visionary dealmaker. He has been described as a "mogul and power player in Hollywood." In 2025, Mr. Emanuel is set to acquire Frieze, a global art fair and publishing group previously owned by Endeavor, in a deal valued at $200 million, backed by investors including Apollo Global Management and RedBird Capital Partners.

Andrew Schleimer, Chief Financial Officer Mr. Schleimer has served as the Chief Financial Officer of TKO Group Holdings, Inc. since September 2023. Prior to this role, he was the Chief Financial Officer of UFC from September 2016 to November 2023 and Deputy Chief Financial Officer of Endeavor Group Holdings, Inc. from February 2021 to September 2023. From July 2014 to September 2016, Mr. Schleimer served as the Executive Vice President & Chief Financial Officer of Digital Turbine, Inc. (Nasdaq), a provider of end-to-end solutions for mobile technology companies. During his tenure at Digital Turbine, he oversaw the company's development and acquisition strategy, including its 2015 merger with Appia. He also held positions as Executive Vice President of Strategic Development & In-Park Services for Six Flags Entertainment Corporation (NYSE) from 2006 to 2010 and Executive Vice President of Strategic Development of Dick Clark Productions from 2010 to 2012. Mr. Schleimer began his career in investment banking at UBS Financial Services, focusing on media and entertainment mergers and acquisitions. He joined Silver Lake in 2016.

Mark Shapiro, President and Chief Operating Officer Mr. Shapiro became the President and Chief Operating Officer and a director of TKO Group Holdings, Inc. on September 12, 2023. He also serves as President and Managing Partner of privately held WME Group since March 2025. Previously, he was President and Chief Operating Officer of Endeavor from April 2023 to March 2025, and its President from December 2018 to March 2025. Before joining Endeavor's IMG subsidiary in 2014, Mr. Shapiro served as Chief Executive Officer and Executive Producer at Dick Clark Productions from May 2010 to September 2014. From February 2006 through May 2010, he was Director, President, and Chief Executive Officer of Six Flags Entertainment Corporation (NYSE), where he was credited with revitalizing the brand. Mr. Shapiro spent 12 years at ESPN, ultimately serving as Executive Vice President of Programming and Production. He has served on the boards of directors for several public companies, including Live Nation Entertainment, Inc., Frontier Communications Corporation, and Papa Johns International, Inc., and currently serves on the board of trustees of Equity Residential and as Chairman of Captivate Network.

Seth Krauss, Chief Administrative Officer & Senior Counsel to the Board of Directors and Senior Management Mr. Krauss serves as Chief Administrative Officer & Senior Counsel to the Board of Directors and Senior Management of TKO Group Holdings, Inc. Prior to this, he served as the Chief Legal Officer of Endeavor Group Holdings, Inc.

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The key risks to TKO Group Holdings' business include challenges in integrating its core assets, significant reliance on marquee talent, and the evolving landscape of media rights and consumer consumption habits.

Challenges in Integrating WWE and UFC Operations: TKO faces considerable execution challenges in integrating WWE and UFC. Differing organizational cultures and fanbase expectations could impede synergy efforts and disrupt ongoing operations.
Dependence on Marquee Talent and Risks of Live Events: TKO's business is significantly reliant on marquee talent in both WWE and UFC. The departure of top stars, their failure to attract audiences, injuries, scandals, or shock retirements could lead to stagnant viewership, reduced pay-per-view buys, and weakened live-event ticket sales. Live shows also inherently carry talent and event risks.
Media Rights Negotiations and Evolving Consumer Consumption Habits: A substantial portion of TKO's revenue is derived from its broadcast deals. There is a risk that TKO may not be able to secure the anticipated premium increases in media rights during negotiations. Furthermore, changing consumer viewing habits, particularly a shift away from traditional pay-per-view and cable subscriptions, could pressure TKO's current revenue streams if the company fails to successfully adapt its content distribution models.

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The consolidation of Professional Fighters League (PFL) and Bellator creates a strengthened competitor in mixed martial arts, intensifying competition for talent, media rights, and audience attention against UFC.

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TKO Group Holdings (symbol: TKO) operates primarily in the sports and entertainment industry, with its main products and services centered around professional wrestling (through World Wrestling Entertainment, WWE) and mixed martial arts (through Ultimate Fighting Championship, UFC). The addressable markets for TKO's main products and services are sized as follows: * Professional Wrestling: The global professional wrestling market was valued at approximately USD 5.8 billion in 2024 and is projected to reach USD 9.1 billion by 2030, expanding at a compound annual growth rate (CAGR) of 7.2% during the forecast period (2025–2030). North America stands as the largest market for professional wrestling, while the Asia-Pacific region is the fastest-growing market. Other estimates for the global professional wrestling market include USD 4.43 billion in 2024, expected to grow to USD 6.2 billion by 2035, and USD 2.6 billion in 2023, projected to reach USD 2.77 billion by 2031. * Mixed Martial Arts (MMA): The global MMA market size was valued at USD 1.5 billion in 2024 and is projected to expand at a CAGR of 12%, reaching USD 3.5 billion by 2032. This market size is specific to UFC and its related revenue streams. North America is the largest market for MMA, with the UFC dominating the market.

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TKO Group Holdings (NYSE: TKO) anticipates several key drivers to fuel its revenue growth over the next 2-3 years, primarily stemming from new media rights agreements, strategic expansion of live events and global partnerships, and the launch of new ventures.

The expected drivers of future revenue growth include:

New Media Rights Agreements: TKO has secured landmark multi-year media rights deals that are expected to provide high-margin contractual revenue streams with annual escalators. These include a 7-year, $7.7 billion agreement for UFC with Paramount, which doubles the average annual value of its previous agreement and begins in 2026, and a 5-year premium live events partnership for WWE with ESPN, delivering a greater than 1.8x step-up in value.
Expansion of Live Events and Site Fees: The company is focused on driving growth through live events and increased site fees. This includes an anticipated increase in WWE premium live events in Saudi Arabia and continued strong performance in ticket sales and venue fees, as seen with record-setting events like UFC 319 and WWE's SummerSlam.
Growth in Global Partnerships and Sponsorships: TKO is actively strengthening its global partnerships with a target of achieving $1 billion in total company partnership revenue by approximately 2030.
Launch of Zuffa Boxing: TKO plans to launch Zuffa Boxing in 2026, which is expected to contribute to revenue growth through a major media rights agreement and service fees generated from super fights.
Synergies from Acquired Businesses: The integration of recently acquired businesses, including IMG, On Location, and Professional Bull Riders (PBR), is expected to unlock further cost synergies and revenue opportunities that management believes will exceed previously raised expectations.

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Share Repurchases

In October 2024, TKO's board of directors authorized a share repurchase program of up to $2.0 billion of its Class A common stock.
In September 2025, TKO announced a $1 billion share repurchase, consisting of an $800 million accelerated share repurchase agreement, a 10b5-1 trading plan for up to $174 million, and a $26 million privately negotiated transaction.
The $1 billion share repurchases are being funded with proceeds from a $1.0 billion first lien term loan borrowing that closed in September 2025.

Share Issuance

The formation of TKO Group Holdings on September 12, 2023, involved Endeavor receiving approximately 26.54 million common units of TKO Operating Company, LLC and subscribing for an equal number of shares of TKO Class B common stock.
In connection with the acquisition of assets from Endeavor in October 2024, Endeavor received approximately 26.14 million common units of TKO Operating Company, LLC and subscribed for an equal number of shares of TKO's Class B common stock.
The TKO 2023 Incentive Award Plan provides for the grant of various equity-based awards, including Class A common stock, to eligible participants.

Inbound Investments

The formation of TKO Group Holdings on September 12, 2023, resulted from a merger between UFC and WWE, with Endeavor holding a 51% stake and WWE's shareholders holding a 49% stake in the new entity.
Silver Lake, a 10% shareholder in TKO, acquired 44,893 shares for approximately $6.44 million in January 2025.

Outbound Investments

In October 2024, TKO agreed to acquire certain businesses from Endeavor, including IMG (specific assets), On Location Events, and Professional Bull Riders (PBR), for $3.25 billion in an all-stock deal that closed in the first quarter of 2025.
In July 2024, TKO Group invested in EverPass Media, an NFL-backed distributor of streaming pay television content for commercial establishments.
TKO announced plans in 2025 to form a boxing promotion known as Zuffa Boxing.

Capital Expenditures

Annual capital expenditures for TKO were $74.949 million in 2024 and $48.633 million in 2023.
Capital expenditures for the three months ended March 31, 2025, totaled $27.3 million.
Purchases of property, buildings, and equipment for the three months ended March 31, 2024, included approximately $19.6 million related to WWE's new headquarters facility.

Interactive Breakdown

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Better Bets vs. TKO (TKO)

INDUSTRY: Movies & Entertainment

Higher Rev Chg 3Y Avg | Lower P/S (Values for TKO: 77.1% | 3.4x)

MPU (1927.8% | 1.5x)

Mega Matrix

Higher Rev Chg LTM (Value for TKO: -3.1%)

FWONA (22.7%)

Liberty Media

NFLX (15.9%)

Netflix

ROKU (15.2%)

Roku

LYV (8.8%)

Live Nation Entertainment

DIS (3.5%)

Walt Disney

Higher Rev Chg 3Y Avg (Value for TKO: 77.1%)

MPU (1927.8%)

Mega Matrix

Higher Op Mgn LTM (Value for TKO: 17.6%)

NFLX (29.5%)

Netflix

IMAX (22.8%)

Imax

SIRI (22.3%)

Sirius XM

RSVR (21.7%)

Reservoir Media

Higher CFO/Rev LTM (Value for TKO: 27.2%)

IMAX (31.0%)

Imax

RSVR (29.7%)

Reservoir Media

Higher Total Yield (Value for TKO: 5.3%)

AMCX (24.6%)

AMC Networks

SIRI (15.6%)

Sirius XM

DIS (7.3%)

Walt Disney

AENT (6.1%)

Alliance Entertainment

SECTOR: Communication Services

Higher Rev Chg 3Y Avg | Lower P/S (Values for TKO: 77.1% | 3.4x)

AD (573.8% | 2.2x)

Array Digital Infrastructure

EVC (150.3% | 0.7x)

Entravision Communications

MPU (1927.8% | 1.5x)

Mega Matrix

GIFT (1260.8% | 0.3x)

Giftify

ONFO (111.0% | 0.2x)

Onfolio

Higher Rev Chg LTM (Value for TKO: -3.1%)

META (22.2%)

Meta Platforms

NFLX (15.9%)

Netflix

GOOGL (15.1%)

Alphabet

TMUS (8.5%)

T-Mobile US

VZ (2.5%)

Verizon Communications

Higher Rev Chg 3Y Avg (Value for TKO: 77.1%)

MPU (1927.8%)

Mega Matrix

GIFT (1260.8%)

Giftify

AD (573.8%)

Array Digital Infrastructure

EVC (150.3%)

Entravision Communications

RUM (95.9%)

Rumble

Higher Op Mgn LTM (Value for TKO: 17.6%)

META (41.4%)

Meta Platforms

GOOGL (32.0%)

Alphabet

NFLX (29.5%)

Netflix

VZ (21.2%)

Verizon Communications

TMUS (21.0%)

T-Mobile US

Higher CFO/Rev LTM (Value for TKO: 27.2%)

META (57.6%)

Meta Platforms

GOOGL (40.9%)

Alphabet

T (32.1%)

AT&T

TMUS (31.7%)

T-Mobile US

CMCSA (27.2%)

Comcast

Higher FCF/Rev LTM (Value for TKO: 24.5%)

GSAT (84.3%)

Globalstar

EA (31.5%)

Electronic Arts

RDDT (31.1%)

RBLX (27.7%)

Roblox

TTD (27.0%)

Trade Desk

Higher Total Yield (Value for TKO: 5.3%)

CMCSA (21.5%)

Comcast

VZ (13.3%)

Verizon Communications

T (10.8%)

AT&T

DIS (7.3%)

Walt Disney

TMUS (6.1%)

T-Mobile US

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for TKO: 77.1% | 3.4x)

SLF (322.2% | 0.9x)

Sun Life Financial

QXO (3988.0% | 2.3x)

QXO

STEP (165.3% | 2.0x)

StepStone

MARA (112.2% | 3.2x)

MARA

BANC (148.8% | 2.5x)

Banc of California

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for TKO: 77.1% | 19.0x)

NUTX (87.7% | 1.7x)

Nutex Health

CRMD (14254.7% | 4.7x)

Cormedix

KROS (15245.3% | 10.2x)

Keros Therapeutics

SIGA (104.9% | 4.6x)

SIGA Technologies

CANG (541.0% | 4.5x)

Cango

Higher Rev Chg LTM (Value for TKO: -3.1%)

NVDA (65.5%)

NVIDIA

AVGO (23.9%)

Broadcom

MSFT (16.7%)

Microsoft

AMZN (12.4%)

Amazon.com

AAPL (10.1%)

Apple

Higher Rev Chg 3Y Avg (Value for TKO: 77.1%)

QXO (3988.0%)

QXO

CRCL (514.0%)

Circle Internet

SLF (322.2%)

Sun Life Financial

CRDO (104.0%)

Credo Technology

NVDA (101.8%)

NVIDIA

Higher Op Mgn LTM (Value for TKO: 17.6%)

NVDA (60.4%)

NVIDIA

MSFT (46.7%)

Microsoft

LLY (45.6%)

Eli Lilly

AVGO (40.8%)

Broadcom

AAPL (32.4%)

Apple

Higher CFO/Rev LTM (Value for TKO: 27.2%)

V (59.1%)

Visa

MSFT (52.5%)

Microsoft

NVDA (47.6%)

NVIDIA

AVGO (43.1%)

Broadcom

AAPL (31.1%)

Apple

Higher FCF/Rev LTM (Value for TKO: 24.5%)

V (55.4%)

Visa

NVDA (44.8%)

NVIDIA

AVGO (42.1%)

Broadcom

AAPL (28.3%)

Apple

MSFT (25.3%)

Microsoft

Higher Total Yield (Value for TKO: 5.3%)

JPM (7.2%)

JPMorgan Chase

XOM (7.2%)

Exxon Mobil

JNJ (6.8%)

Johnson & Johnson

CVX (6.6%)

Chevron

BRK-B (6.2%)

Berkshire Hathaway

Best Bets in Communication Services

What You Pay

P/EBIT (Value for TKO: 19.6x)

FWONA (20.0x)

Liberty Media

IRDM (10.8x)

Iridium Communications

META (18.7x)

Meta Platforms

TTD (23.8x)

Trade Desk

MTCH (8.0x)

Match

CARG (13.1x)

CarGurus

TGNA (7.5x)

Tegna

T (6.0x)

AT&T

TMUS (13.6x)

T-Mobile US

RDDT (59.9x)

P/E (Value for TKO: 81.3x)

FWONA (36.0x)

Liberty Media

IRDM (21.9x)

Iridium Communications

META (26.9x)

Meta Platforms

TTD (31.7x)

Trade Desk

MTCH (11.7x)

Match

CARG (20.6x)

CarGurus

TGNA (15.2x)

Tegna

T (9.3x)

AT&T

TMUS (22.4x)

T-Mobile US

RDDT (50.0x)

What You Get

Rev Chg 3Y Avg (Value for TKO: 77.1%)

FWONA (21.3%)

Liberty Media

IRDM (6.6%)

Iridium Communications

META (19.9%)

Meta Platforms

TTD (22.5%)

Trade Desk

MTCH (3.0%)

Match

CARG (-10.0%)

CarGurus

TGNA (-5.7%)

Tegna

T (1.3%)

AT&T

TMUS (3.6%)

T-Mobile US

RDDT (50.6%)

Rev Chg LTM (Value for TKO: -3.1%)

FWONA (22.7%)

Liberty Media

IRDM (4.9%)

Iridium Communications

META (22.2%)

Meta Platforms

TTD (18.5%)

Trade Desk

MTCH (0.2%)

Match

CARG (13.7%)

CarGurus

TGNA (-12.6%)

Tegna

T (2.7%)

AT&T

TMUS (8.5%)

T-Mobile US

RDDT (69.4%)

Rev Chg Q (Value for TKO: 11.9%)

FWONA (37.9%)

Liberty Media

IRDM (0.0%)

Iridium Communications

META (23.8%)

Meta Platforms

TTD (14.3%)

Trade Desk

MTCH (2.1%)

Match

CARG (58.2%)

CarGurus

TGNA (-18.9%)

Tegna

T (3.6%)

AT&T

TMUS (11.3%)

T-Mobile US

RDDT (69.7%)

FCF/Rev 3Y Avg (Value for TKO: 13.1%)

FWONA (36.7%)

Liberty Media

IRDM (33.9%)

Iridium Communications

META (29.5%)

Meta Platforms

TTD (26.9%)

Trade Desk

MTCH (26.5%)

Match

CARG (20.5%)

CarGurus

TGNA (16.4%)

Tegna

T (15.8%)

AT&T

TMUS (13.2%)

T-Mobile US

RDDT (12.4%)

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 12%, alpha of 0.5%, and sharpe of 0.56

Latest Trefis Analyses

	Title	Date
0	DASHBOARDS
1	TKO Stock Falls -7% With A 7-day Losing Spree On Heavy Insider Selling	01/07/2026
2	TKO Stock Falls -6.6% In 6-day Spree On Insider Selling And Bearish Options	01/06/2026
3	TKO Earnings Notes	12/28/2026
4	11-Day Rally Sends TKO Stock Up 15%	12/09/2025
5	TKO Stock Surges 14%, With A 9-Day Winning Spree	12/05/2025
6	TKO Stock Surges 9.2%, With A 7-Day Winning Spree	12/03/2025
7	7-Day Rally Sends TKO Stock Up 10%	12/03/2025
8	ARTICLES
9	S&P 500 Stocks Trading At 52-Week High	12/17/2025
10	TKO Stock Surges 15%, With A 11-Day Winning Spree	12/09/2025
11	TKO Stock On Fire: Up 9.2% With 7-Day Winning Streak	12/03/2025
12	7-Day Rally Sends TKO Stock Up 9.2%	12/03/2025
13	TKO Stock On Fire: Up 10% With 7-Day Winning Streak	12/03/2025

	Title
0	DASHBOARDS
1	TKO Stock Falls -7% With A 7-day Losing Spree On Heavy Insider Selling
2	TKO Stock Falls -6.6% In 6-day Spree On Insider Selling And Bearish Options
3	TKO Earnings Notes
4	11-Day Rally Sends TKO Stock Up 15%
5	TKO Stock Surges 14%, With A 9-Day Winning Spree
6	TKO Stock Surges 9.2%, With A 7-Day Winning Spree
7	7-Day Rally Sends TKO Stock Up 10%
8	ARTICLES
9	S&P 500 Stocks Trading At 52-Week High
10	TKO Stock Surges 15%, With A 11-Day Winning Spree
11	TKO Stock On Fire: Up 9.2% With 7-Day Winning Streak
12	7-Day Rally Sends TKO Stock Up 9.2%
13	TKO Stock On Fire: Up 10% With 7-Day Winning Streak

Trade Ideas

Select ideas related to TKO.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
YELP_2132026_Dip_Buyer_High_CFO_Margins_ExInd_DE	02132026	YELP	Yelp	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	6.2%	6.2%	-5.7%
TRIP_2132026_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	02132026	TRIP	Tripadvisor	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	5.2%	5.2%	0.0%
OMC_2062026_Dip_Buyer_FCFYield	02062026	OMC	Omnicom	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	22.1%	22.1%	-3.7%
MGNI_2062026_Dip_Buyer_High_CFO_Margins_ExInd_DE	02062026	MGNI	Magnite	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	20.6%	20.6%	-0.8%
RBLX_1302026_Dip_Buyer_High_CFO_Margins_ExInd_DE	01302026	RBLX	Roblox	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	4.4%	4.4%	-7.9%
TKO_6302025_Insider_Buying_GTE_1Mil_EBITp+DE_V2	06302025	TKO	TKO	Insider	Insider Buys \| Low D/EStrong Insider Buying Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap	19.7%	24.0%	-14.5%
TKO_10312024_Insider_Buying_GTE_1Mil_EBITp+DE_V2	10312024	TKO	TKO	Insider	Insider Buys \| Low D/EStrong Insider Buying Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap	40.1%	62.8%	-0.3%
TKO_4302024_Insider_Buying_GTE_1Mil_EBITp+DE_V2	04302024	TKO	TKO	Insider	Insider Buys \| Low D/EStrong Insider Buying Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap	22.4%	72.5%	0.0%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
DAWN	Day One Biopharmaceuticals	2.2	65.9%	127.5%
QURE	uniQure	0.8	34.0%	-40.4%
SLDB	Solid Biosciences	0.6	20.3%	19.7%
IOT	Samsara	20.3	19.5%	-0.3%
SWBI	Smith & Wesson Brands	0.6	18.7%	41.7%
MRVL	Marvell Technology	76.7	18.4%	5.5%
REPL	Replimune	0.7	14.6%	-17.0%
IOVA	Iovance Biotherapeutics	1.9	12.0%	87.9%
AMPX	Amprius Technologies	2.1	9.7%	107.0%
CAPR	Capricor Therapeutics	1.3	8.1%	-3.3%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
AXTI	AXT	1.4	-16.6%	98.0%
INGM	Ingram Micro	5.2	-16.3%	3.4%
BE	Bloom Energy	35.7	-15.5%	55.6%
GAP	Gap	8.7	-14.4%	-9.1%
NUTX	Nutex Health	0.6	-14.3%	-45.2%
LITE	Lumentum	39.7	-14.2%	51.5%
JEF	Jefferies Financial	8.2	-13.5%	-37.7%
MEOH	Methanex	3.9	-12.7%	25.5%
WOLF	Wolfspeed	0.4	-12.5%	-4.8%
RUM	Rumble	1.3	-12.5%	-22.3%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
DAWN	Day One Biopharmaceuticals	2.2	100.0%	127.5%
SOC	Sable Offshore	1.4	74.2%	59.3%
ZD	Ziff Davis	1.7	56.3%	20.4%
AMPX	Amprius Technologies	2.1	52.2%	107.0%
TNGX	Tango Therapeutics	1.9	52.2%	91.3%
BW	Babcock & Wilcox Enterprises	1.3	47.9%	106.6%
IOVA	Iovance Biotherapeutics	1.9	32.9%	87.9%
RCAT	Red Cat	1.5	31.8%	93.7%
VG	Venture Global	30.4	28.8%	83.0%
NMAX	Newsmax	1.0	28.2%	-1.3%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
PSIX	Power Solutions International	1.2	-37.5%	-8.7%
GO	Grocery Outlet	0.6	-33.3%	-34.8%
TPB	Turning Point Brands	1.7	-33.1%	-15.4%
HROW	Harrow	1.4	-32.9%	-25.8%
SES	SES AI	0.4	-31.1%	-37.2%
INDI	Indie Semiconductor	0.5	-29.2%	-26.6%
EU	enCore Energy	0.4	-28.9%	-22.6%
DSGR	Distribution Solutions	1.0	-26.1%	-19.4%
TBPH	Theravance Biopharma	0.7	-25.6%	-27.5%
VSCO	Victoria's Secret	3.8	-25.5%	-13.7%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
FSLY	Fastly	3.0	142.4%	97.8%
AAOI	Applied Optoelectronics	6.1	139.5%	174.2%
IOVA	Iovance Biotherapeutics	1.9	110.2%	87.9%
DAWN	Day One Biopharmaceuticals	2.2	97.4%	127.5%
ACHC	Acadia Healthcare	2.3	89.1%	80.5%
NKTR	Nektar Therapeutics	1.3	87.8%	67.2%
CRCL	Circle Internet	23.4	85.1%	28.5%
SOC	Sable Offshore	1.4	73.8%	59.3%
AXTI	AXT	1.4	72.6%	98.0%
KOS	Kosmos Energy	1.2	68.0%	183.2%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
MNKD	MannKind	0.8	-54.8%	-54.0%
EOSE	Eos Energy Enterprises	1.7	-50.6%	-46.5%
GRAL	GRAIL	1.8	-49.2%	-41.3%
FLNC	Fluence Energy	1.9	-49.0%	-25.3%
QURE	uniQure	0.8	-46.5%	-40.4%
CWH	Camping World	0.5	-46.1%	-24.4%
RUN	Sunrun	2.6	-45.3%	-38.4%
NSP	Insperity	0.8	-43.9%	-40.9%
SHLS	Shoals Technologies	1.0	-43.9%	-32.8%
KD	Kyndryl	3.0	-43.6%	-50.3%

Peer Comparisons

Peers to compare with:

Financials

	TKO	FWONA	MSGS	LYV	WBD	FOXA	Median
Name	TKO	Liberty .	Madison .	Live Nat.	Warner B.	Fox
Mkt Price	202.68	77.43	313.34	156.13	27.95	59.78	116.78
Mkt Cap	15.9	19.4	7.6	36.3	69.3	25.9	22.6
Rev LTM	4,735	4,482	1,071	25,201	37,296	16,578	10,657
Op Inc LTM	835	600	5	1,233	1,309	3,155	1,034
FCF LTM	1,159	751	-0	305	3,088	2,310	955
FCF 3Y Avg	599	1,371	82	748	4,559	1,773	1,059
CFO LTM	1,286	870	3	1,395	4,319	2,729	1,341
CFO 3Y Avg	713	1,590	84	1,494	5,724	2,142	1,542

Growth & Margins

	TKO	FWONA	MSGS	LYV	WBD	FOXA	Median
Name	TKO	Liberty .	Madison .	Live Nat.	Warner B.	Fox
Rev Chg LTM	-3.1%	22.7%	0.3%	8.8%	-5.1%	9.2%	4.5%
Rev Chg 3Y Avg	77.1%	21.3%	6.8%	15.7%	4.1%	5.1%	11.2%
Rev Chg Q	11.9%	37.9%	12.8%	11.1%	-5.7%	2.0%	11.5%
QoQ Delta Rev Chg LTM	2.4%	10.9%	4.5%	2.6%	-1.5%	0.6%	2.5%
Op Mgn LTM	17.6%	13.4%	0.4%	4.9%	3.5%	19.0%	9.1%
Op Mgn 3Y Avg	10.2%	10.5%	7.6%	4.4%	0.5%	18.6%	8.9%
QoQ Delta Op Mgn LTM	-0.4%	1.0%	0.8%	0.3%	-0.2%	-0.7%	0.0%
CFO/Rev LTM	27.2%	19.4%	0.3%	5.5%	11.6%	16.5%	14.0%
CFO/Rev 3Y Avg	15.8%	42.6%	8.5%	6.3%	14.4%	13.7%	14.1%
FCF/Rev LTM	24.5%	16.8%	-0.0%	1.2%	8.3%	13.9%	11.1%
FCF/Rev 3Y Avg	13.1%	36.7%	8.3%	3.2%	11.5%	11.4%	11.4%

Valuation

	TKO	FWONA	MSGS	LYV	WBD	FOXA	Median
Name	TKO	Liberty .	Madison .	Live Nat.	Warner B.	Fox
Mkt Cap	15.9	19.4	7.6	36.3	69.3	25.9	22.6
P/S	3.4	4.3	7.1	1.4	1.9	1.6	2.6
P/EBIT	19.6	20.0	507.3	26.9	18.6	8.8	19.8
P/E	81.3	36.0	-457.2	73.1	95.4	13.7	54.5
P/CFO	12.4	22.3	2,177.7	26.0	16.1	9.5	19.2
Total Yield	5.3%	2.8%	-0.2%	1.4%	1.0%	8.4%	2.1%
Dividend Yield	4.0%	0.0%	0.0%	0.0%	0.0%	1.1%	0.0%
FCF Yield 3Y Avg	4.6%	8.2%	1.7%	2.9%	14.5%	7.9%	6.3%
D/E	0.3	0.3	0.2	0.3	0.5	0.3	0.3
Net D/E	0.2	0.2	0.1	0.1	0.4	0.2	0.2

Returns

	TKO	FWONA	MSGS	LYV	WBD	FOXA	Median
Name	TKO	Liberty .	Madison .	Live Nat.	Warner B.	Fox
1M Rtn	-1.9%	-2.9%	9.1%	9.6%	3.4%	-11.3%	0.8%
3M Rtn	0.6%	-9.0%	38.8%	12.1%	7.2%	-12.2%	3.9%
6M Rtn	5.3%	-14.5%	59.9%	-4.5%	130.8%	-2.3%	1.5%
12M Rtn	39.6%	-9.2%	58.0%	19.1%	161.2%	9.0%	29.4%
3Y Rtn	106.8%	48.5%	62.8%	122.2%	88.6%	79.0%	83.8%
1M Excs Rtn	0.2%	-0.8%	11.2%	11.7%	5.5%	-9.2%	2.8%
3M Excs Rtn	6.0%	-7.4%	41.8%	16.4%	15.4%	-8.0%	10.7%
6M Excs Rtn	3.8%	-17.7%	56.1%	-7.9%	133.8%	-4.9%	-0.5%
12M Excs Rtn	19.4%	-25.4%	41.1%	-1.3%	129.2%	-8.2%	9.1%
3Y Excs Rtn	36.2%	-22.1%	-8.0%	46.2%	15.5%	7.8%	11.7%

Comparison Analyses

	Title
0	Where Does TKO Stock Rank Among Competitors?

FDIC Bank Data

Bank Capital

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Bank Deposits

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Bank Assets

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Bank Loans

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FDA Approved Drugs Data

Expand for Morenull

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2025	2024	2023	2022	2021	2020
Period End	12/31/2025	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020
Filing Date	2/25/2026	2/25/2026	2/26/2025	2/27/2024	8/22/2023	2/27/2024	8/22/2023
Key Financials
Total Revenue	4,735	4,735	4,884	3,225	1,140	1,032	891
EBITDA	1,321	1,321	511	646	603	455	419
Operating Income	835	835	31	397	544	391	314
Net Income	195	195	9	223	387	272	177
EPS	2.39	2.42	0.12	-0.43	0.00	0.00	2.13
Growth Rates
Total Revenue Growth	-3.1%	-3.1%	51.5%	182.8%	10.5%	15.8%	-
EBITDA Growth	158.4%	158.4%	-20.8%	7.0%	32.6%	8.5%	-
Operating Income Growth	2598.3%	2598.3%	-92.2%	-27.0%	39.2%	24.5%	-
Net Income Growth	1977.0%	1977.0%	-95.8%	-42.3%	42.2%	53.7%	-
Margins
EBITDA Margin	27.9%	27.9%	10.5%	20.0%	52.9%	44.1%	47.1%
Operating Income Margin	17.6%	17.6%	0.6%	12.3%	47.7%	37.9%	35.2%
Net Income Margin	4.1%	4.1%	0.2%	6.9%	34.0%	26.4%	19.9%
Cash & Debt
Total Cash	831	831	620	236	181	875	�
Total Debt	4,063	4,063	3,083	3,027	2,783	2,852	0
Net Debt / (Cash)	3,232	3,232	2,464	2,791	2,603	1,977	�
Cash Flows
Net Cash from Operations	1,286	1,286	586	266	502	441	351
Free Cash from Operations	1,159	1,159	467	172	489	430	330
Returns to Shareholders
Dividends	641	641	-0	-0	1,096	269	312
Share Repurchases	867	867	165	100	-0	-0	-0

$ Mil \| FY: 12/31	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1
Period End	12/31/2025	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023
Filing Date	2/25/2026	11/5/2025	8/6/2025	5/8/2025	2/26/2025	11/6/2024	8/8/2024	5/8/2024	2/27/2024	11/7/2023	8/22/2023	6/23/2023
Key Financials Quarterly
Total Revenue	1,038	1,120	1,308	1,269	928	1,541	1,193	1,222	2,164	449	305	307
Ebitda	212	305	467	336	133	188	241	-51	188	130	166	161
Operating Income	57	172	368	237	55	35	115	-174	14	94	144	146
Net Income	-2	41	98	58	31	23	59	-104	10	44	81	88
EPS	-0.03	0.50	1.20	0.72	0.38	0.29	0.73	-1.26	-0.17	-0.26	0.00	0.00
Key Financials TTM
Total Revenue TTM	4,735	4,625	5,046	4,931	4,884	6,120	5,029	4,141	3,225	1,333	1,224	1,187
Ebitda TTM	1,321	1,242	1,125	898	511	566	508	433	646	592	657	631
Operating Income TTM	835	833	695	442	31	-11	49	78	397	504	580	562
Net Income TTM	195	229	211	172	9	-12	10	32	223	282	366	379
Growth Rates Quarterly
Total Revenue Growth	11.9%	-27.3%	9.7%	3.8%	-57.1%	243.1%	291.0%	298.5%	696.2%	31.8%	13.9%	18.1%
EBITDA Growth	59.2%	62.2%	93.9%	752.5%	-29.2%	44.6%	44.9%	-132.0%	40.1%	-33.5%	18.5%	12.2%
Operating Income Growth	4.3%	396.5%	220.7%	236.7%	307.0%	-63.1%	-20.2%	-218.8%	-88.7%	-44.7%	14.2%	13.6%
Net Income Growth	-107.7%	77.2%	66.4%	156.2%	211.0%	-48.0%	-27.4%	-218.5%	-85.4%	-65.5%	-13.4%	-8.6%
Margins Quarterly
EBITDA Margin	20.5%	27.3%	35.7%	26.5%	14.4%	12.2%	20.2%	-4.2%	8.7%	29.0%	54.5%	52.5%
Operating Income Margin	5.5%	15.4%	28.1%	18.7%	5.9%	2.2%	9.6%	-14.2%	0.6%	20.9%	47.1%	47.6%
Net Income Margin	-0.2%	3.7%	7.5%	4.6%	3.3%	1.5%	5.0%	-8.5%	0.5%	9.9%	26.7%	28.6%
Cash & Debt
Total Cash	831	861	535	471	620	457	278	246	236	189	173	136
Total Debt	4,063	4,043	3,060	3,069	3,083	2,989	2,997	3,029	3,027	3,022	2,771	2,778
Net Debt / (Cash)	3,232	3,182	2,525	2,599	2,464	2,531	2,719	2,783	2,791	2,834	2,598	2,642
Cash Flows Quarterly
FCF from Operations	310	417	396	163	56	178	307	45	19	67	111	70
Cash Flows TTM
FCF from Operations TTM	1,286	1,032	793	704	586	548	437	241	266	373	444	462
Returns to Shareholders Quarterly
Dividends	202	210	153	75	0	0	0	0	-260	99	60	101
Share Repurchases	41	826	-0	-0	-0	-0	-0	-0	100	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	0.4%	7.9%	18.1%	12.0%	3.2%	1.3%	5.7%	-9.6%	0.8%	3.5%	17.5%	17.5%
Return on Invested Capital (ROIC) TTM
ROIC TTM	9.4%	8.7%	7.9%	4.5%	0.5%	-0.2%	0.7%	1.1%	4.5%	6.7%	17.6%	16.9%

Segment Financials

Revenue by Segment

$ Mil	2025	2024	2023	2022	2021
IMG Worldwide, LLC (IMG)	1,970
Ultimate Fighting Championship (UFC)	1,406	1,292	1,140
World Wrestling Entertainment, Inc. (WWE)	1,398	383	0
Corporate and Other	170
Eliminations	-61
Consumer Products Licensing				26	30
Live Event				106	98
Media Rights and Content				768	647
Sponsorships				132	116
Total	4,884	1,675	1,140	1,032	891

Price Behavior

Price Behavior

Market Price	$202.68
Market Cap ($ Bil)	16.5
First Trading Date	09/12/2023
Distance from 52W High	-9.9%
	50 Days	200 Days
DMA Price	$208.21	$188.83
DMA Trend	up	up
Distance from DMA	-2.7%	7.3%
	3M	1YR
Volatility	34.4%	33.3%
Downside Capture	36.39	64.09
Upside Capture	44.75	86.98
Correlation (SPY)	6.7%	43.3%

TKO Betas & Captures as of 2/28/2026

	1M	2M	3M	6M	1Y	3Y
Beta	0.59	0.19	0.15	0.46	0.75	0.07
Up Beta	-0.17	-0.02	-0.63	-0.01	0.60	-0.17
Down Beta	2.49	0.79	0.27	0.41	0.98	-0.04
Up Capture	133%	14%	78%	79%	86%	41%
Bmk +ve Days	9	20	31	70	142	431
Stock +ve Days	14	20	34	69	140	333
Down Capture	-90%	-18%	-18%	46%	69%	75%
Bmk -ve Days	12	21	30	54	109	320
Stock -ve Days	7	21	27	53	109	282

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with TKO
TKO	34.9%	33.4%	0.93	-
Sector ETF (XLC)	16.9%	18.6%	0.70	50.4%
Equity (SPY)	16.4%	19.2%	0.66	43.7%
Gold (GLD)	77.1%	26.1%	2.17	0.7%
Commodities (DBC)	19.6%	17.1%	0.89	17.9%
Real Estate (VNQ)	3.1%	16.6%	0.01	42.7%
Bitcoin (BTCUSD)	-21.4%	45.5%	-0.39	15.0%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with TKO
TKO	15.7%	33.2%	0.93	-
Sector ETF (XLC)	10.9%	20.8%	0.44	36.2%
Equity (SPY)	13.0%	17.0%	0.60	34.5%
Gold (GLD)	24.2%	17.2%	1.14	6.0%
Commodities (DBC)	11.9%	19.0%	0.51	11.9%
Real Estate (VNQ)	5.0%	18.8%	0.17	26.0%
Bitcoin (BTCUSD)	7.5%	56.8%	0.35	11.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 10-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with TKO
TKO	7.5%	33.2%	0.93	-
Sector ETF (XLC)	9.7%	22.4%	0.52	36.2%
Equity (SPY)	15.0%	17.9%	0.72	34.5%
Gold (GLD)	15.1%	15.6%	0.80	6.0%
Commodities (DBC)	9.0%	17.6%	0.43	11.9%
Real Estate (VNQ)	6.1%	20.7%	0.26	26.0%
Bitcoin (BTCUSD)	66.7%	66.8%	1.06	11.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date	2132026
Short Interest: Shares Quantity	6.5 Mil
Short Interest: % Change Since 1312026	-5.9%
Average Daily Volume	0.8 Mil
Days-to-Cover Short Interest	8.3 days
Basic Shares Quantity	78.4 Mil
Short % of Basic Shares	8.3%

Returns Analyses

	Title
0	With TKO Stock Surging, Have You Considered The Downside?

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
2/25/2026	8.0%	4.4%
11/5/2025	-3.3%	-3.0%	9.3%
8/6/2025	3.3%	22.9%	24.7%
5/8/2025	-5.5%	-4.4%	-3.3%
2/26/2025	-5.8%	-4.5%	-4.5%
11/6/2024	-1.9%	-2.0%	19.9%
8/8/2024	6.8%	8.4%	5.4%
5/8/2024	-0.1%	6.9%	9.7%
...
SUMMARY STATS
# Positive	4	5	6
# Negative	6	5	3
Median Positive	5.0%	6.9%	9.5%
Median Negative	-3.6%	-4.4%	-4.5%
Max Positive	8.0%	22.9%	24.7%
Max Negative	-5.8%	-6.6%	-5.0%

	Forward Returns
2/25/2026	8.0%	4.4%
11/5/2025	-3.3%	-3.0%	9.3%
8/6/2025	3.3%	22.9%	24.7%
5/8/2025	-5.5%	-4.4%	-3.3%
2/26/2025	-5.8%	-4.5%	-4.5%
11/6/2024	-1.9%	-2.0%	19.9%
8/8/2024	6.8%	8.4%	5.4%
5/8/2024	-0.1%	6.9%	9.7%
2/27/2024	-3.9%	-6.6%	0.1%
11/1/2023	1.3%	2.7%	-5.0%
SUMMARY STATS
# Positive	4	5	6
# Negative	6	5	3
Median Positive	5.0%	6.9%	9.5%
Median Negative	-3.6%	-4.4%	-4.5%
Max Positive	8.0%	22.9%	24.7%
Max Negative	-5.8%	-6.6%	-5.0%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
12/31/2025	02/25/2026	10-K
09/30/2025	11/05/2025	10-Q
06/30/2025	08/06/2025	10-Q
03/31/2025	05/08/2025	10-Q
12/31/2024	02/26/2025	10-K
09/30/2024	11/06/2024	10-Q
06/30/2024	08/08/2024	10-Q
03/31/2024	05/08/2024	10-Q
12/31/2023	02/27/2024	10-K
09/30/2023	11/07/2023	10-Q
06/30/2023	08/22/2023	424B3
03/31/2023	06/23/2023	S-4/A

Insider Activity

Expand for More

#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Kapral, Shane	Deputy Chief Financial Officer	Direct	Sell	1052026	204.21	1,946	397,385	838,062	Form
2	Shapiro, Mark S	See Remarks	Direct	Sell	1052026	204.08	32,022	6,535,050	21,396,155	Form
3	Schleimer, Andrew M	Chief Financial Officer	Direct	Sell	1052026	204.08	5,739	1,171,215	3,314,055	Form
4	Krauss, Seth D	See Remarks	Direct	Sell	1052026	207.67	9,777	2,030,424	1,657,857	Form
5	Kapral, Shane	Deputy Chief Financial Officer	Direct	Sell	12292025	214.08	254	54,376	216,649	Form

Collapse to Preview

#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Kapral, Shane	Deputy Chief Financial Officer	Direct	Sell	1052026	204.21	1,946	397,385	838,062	Form
2	Shapiro, Mark S	See Remarks	Direct	Sell	1052026	204.08	32,022	6,535,050	21,396,155	Form
3	Schleimer, Andrew M	Chief Financial Officer	Direct	Sell	1052026	204.08	5,739	1,171,215	3,314,055	Form
4	Krauss, Seth D	See Remarks	Direct	Sell	1052026	207.67	9,777	2,030,424	1,657,857	Form
5	Kapral, Shane	Deputy Chief Financial Officer	Direct	Sell	12292025	214.08	254	54,376	216,649	Form
6	Kapral, Shane	Deputy Chief Financial Officer	Direct	Sell	12292025	216.36	253	54,739	164,217	Form
7	Kapral, Shane	Deputy Chief Financial Officer	Direct	Sell	12162025	206.44	254	52,436	261,353	Form
8	Kapral, Shane	Deputy Chief Financial Officer	Direct	Sell	12092025	202.41	254	51,412	307,663	Form
9	Khan, Nick		Direct	Sell	12052025	195.16	9,519	1,857,735	21,269,541	Form
10	Kapral, Shane	Deputy Chief Financial Officer	Direct	Sell	12032025	192.82	254	48,976	342,063	Form
11	Kapral, Shane	Deputy Chief Financial Officer	Direct	Sell	11262025	178.32	254	45,293	361,633	Form
12	Kapral, Shane	Deputy Chief Financial Officer	Direct	Sell	11192025	183.56	254	46,624	418,884	Form
13	Khan, Nick		Direct	Sell	11052025	188.26	9,519	1,792,065	22,309,732	Form
14	Khan, Nick		Direct	Sell	10072025	197.82	9,519	1,883,021	25,325,087	Form
15	Bynoe, Peter C B		Direct	Buy	9172025	203.00	740	150,220	1,052,961	Form
16	Khan, Nick		Direct	Sell	9052025	186.43	9,519	1,774,606	25,625,656	Form
17	Khan, Nick		Direct	Sell	7222025	170.82	45,168	7,715,598	26,732,336	Form
18	Khan, Nick		Direct	Sell	7222025	167.36	9,519	1,593,116	24,598,014	Form
19	Khan, Nick		Direct	Sell	7082025	176.96	9,519	1,684,452	35,685,934	Form
20	Bynoe, Peter C B		Direct	Buy	6062025	169.59	980	166,198	465,864	Form
21	Khan, Nick		Direct	Sell	6042025	158.46	9,519	1,508,353	33,429,222	Form
22	Silver, Lake West Voteco, Llc		Endeavor Operating Company, LLC	Buy	6042025	158.32	1,579,080	249,999,946	658,376,411	Form
23	Endeavor, Group Holdings, Inc		Endeavor Operating Company, LLC	Buy	6042025	158.32	1,579,080	249,999,946	658,376,411	Form
24	Medina, Sonya E		Direct	Buy	3182025	142.93	233	33,303	285,860	Form
25	Kraft, Jonathan		KPC US Equity LLC	Buy	3102025	151.78	20,000	3,035,697	3,035,697	Form
26	Kraft, Jonathan		KPC US Equity LLC	Buy	3102025	140.69	3,500	492,415	3,306,215	Form
27	Kapral, Shane	Deputy Chief Financial Officer	Direct	Sell	1222026	203.77	613	124,911	1,077,128	Form
28	Kapral, Shane	Deputy Chief Financial Officer	Direct	Sell	1222026	201.98	1,238	250,051	817,615	Form
29	Krauss, Seth D	See Remarks	Direct	Sell	1222026	201.22	14,016	2,820,266	456,965	Form
30	Khan, Nick		Direct	Sell	1222026	201.98	7,744	1,564,133	26,072,353	Form
31	Shapiro, Mark S	See Remarks	Direct	Sell	1222026	201.98	14,363	2,901,039	23,914,432	Form
32	Schleimer, Andrew M	Chief Financial Officer	Direct	Sell	1222026	201.98	11,978	2,419,316	5,563,337	Form
33	Krauss, Seth D	See Remarks	Direct	Sell	1132026	200.39	5,712	1,144,611	455,079	Form
34	Kapral, Shane	Deputy Chief Financial Officer	Direct	Sell	1132026	198.83	749	148,924	622,537	Form
35	Khan, Nick		Direct	Sell	1262026	201.31	9,518	1,916,048	24,069,541	Form
36	Krauss, Seth D	See Remarks	Direct	Sell	1292026	200.71	2,271			Form
37	Kapral, Shane	Deputy Chief Financial Officer	Direct	Sell	1292026	202.72	615	124,671	695,925	Form
38	Kapral, Shane	Deputy Chief Financial Officer	Direct	Sell	2032026	202.04	616	124,457	569,147	Form
39	Kapral, Shane	Deputy Chief Financial Officer	Direct	Sell	2102026	211.54	616	130,309	465,600	Form
40	Kapral, Shane	Deputy Chief Financial Officer	Direct	Sell	2182026	208.01	616	128,134	329,696	Form
41	Kapral, Shane	Deputy Chief Financial Officer	Direct	Sell	3042026	221.91	616	136,697	78,334	Form
42	Khan, Nick		Direct	Sell	3042026	220.29	9,518	2,096,737	24,242,634	Form
43	Kapral, Shane	Deputy Chief Financial Officer	Direct	Sell	2242026	210.00	616	129,360	203,490	Form

TKO Trade Sentinel

Stock Conviction

null

CONVICTION RATIONALE

null

STOCK ARCHETYPE

null

INVESTMENT THESIS

null

Mechanism: null

Supporting Evidence:

PRIMARY RISK

null

Mechanism: null

Supporting Evidence:

Key KPI Watchlist

KPI	Threshold	Rationale

Core Investment Debate

BULL VIEW

CORE TENSION

PREVAILING SENTIMENT

BEAR VIEW

Next 6 months: Risks and Catalysts

Timeline	Event & Metric To Watch

Key Events in Last 6 Months

Date	Event	Stock Impact

Risk Management

Position Sizing

null

Diversification Alternatives

How Is The Market Pricing TKO?

What will confirm the thesis

What will damage the thesis

Noise: Real but irrelevant to thesis

Repricing Catalyst

What TKO Makes & Who Pays

TTM figures based on

TKO Evolution: Price Return by Era

① Structure

② Volume / Momentum

③ Catalyst

Combined Score

0 / 12

1 Price Structure & Trend · ▾

2 Momentum ▾

3 Relative Strength vs. SPY ▾

4 Institutional Footprint & Volume ▾

5 Volatility ▾

6 Key Price Levels Range · Vol ▾

7 Earnings Reaction History ▾

8 How the Verdict Is Derived Three Pillars ▾

Pillar	Score
① Structure	0
② Vol / Mom	0
③ Catalyst	0

ℹ Bull Pillars: 0 · Bear Pillars: 0 · Combined Score: 0 →

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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TKO (TKO)

Market Price (3/7/2026): $202.2 | Market Cap: $15.8 BilSector: Communication Services | Industry: Movies & Entertainment

TKO (TKO)

Market Price (3/7/2026): $202.2Market Cap: $15.8 BilSector: Communication ServicesIndustry: Movies & Entertainment

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About TKO (TKO)

Interactive Breakdown

Better Bets vs. TKO (TKO)

INDUSTRY: Movies & Entertainment

Higher Rev Chg 3Y Avg | Lower P/S (Values for TKO: 77.1% | 3.4x)

Higher Rev Chg LTM (Value for TKO: -3.1%)

Higher Rev Chg 3Y Avg (Value for TKO: 77.1%)

Higher Op Mgn LTM (Value for TKO: 17.6%)

Higher CFO/Rev LTM (Value for TKO: 27.2%)

Higher Total Yield (Value for TKO: 5.3%)

SECTOR: Communication Services

Higher Rev Chg 3Y Avg | Lower P/S (Values for TKO: 77.1% | 3.4x)

Higher Rev Chg LTM (Value for TKO: -3.1%)

Higher Rev Chg 3Y Avg (Value for TKO: 77.1%)

Higher Op Mgn LTM (Value for TKO: 17.6%)

Higher CFO/Rev LTM (Value for TKO: 27.2%)

Higher FCF/Rev LTM (Value for TKO: 24.5%)

Higher Total Yield (Value for TKO: 5.3%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for TKO: 77.1% | 3.4x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for TKO: 77.1% | 19.0x)

Higher Rev Chg LTM (Value for TKO: -3.1%)

Higher Rev Chg 3Y Avg (Value for TKO: 77.1%)

Higher Op Mgn LTM (Value for TKO: 17.6%)

Higher CFO/Rev LTM (Value for TKO: 27.2%)

Higher FCF/Rev LTM (Value for TKO: 24.5%)

Higher Total Yield (Value for TKO: 5.3%)

Best Bets in Communication Services

P/EBIT (Value for TKO: 19.6x)

P/E (Value for TKO: 81.3x)

Rev Chg 3Y Avg (Value for TKO: 77.1%)

Rev Chg LTM (Value for TKO: -3.1%)

Rev Chg Q (Value for TKO: 11.9%)

FCF/Rev 3Y Avg (Value for TKO: 13.1%)

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Market Price (3/7/2026): $202.2 | Market Cap: $15.8 Bil
Sector: Communication Services | Industry: Movies & Entertainment

Market Price (3/7/2026): $202.2
Market Cap: $15.8 Bil
Sector: Communication Services
Industry: Movies & Entertainment