TKO (TKO)
Market Price (6/19/2026): $198.8 | Market Cap: $15.4 BilInvestor Relations Sector: Communication Services | Industry: Movies & Entertainment
TKO (TKO)
Market Price (6/19/2026): $198.8Market Cap: $15.4 BilSector: Communication ServicesIndustry: Movies & Entertainment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.1%, Dividend Yield is 4.6%, FCF Yield is 11% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 36%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 34% Stock buyback supportStock Buyback 3Y Total is 1.8 Bil Low stock price volatilityVol 12M is 32% Megatrend and thematic driversMegatrends include Digital Content & Streaming, Experience Economy & Premiumization, and Social Media & Creator Economy. Themes include Video Streaming, Show more. | Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 12% | Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 68x Key risksTKO key risks include [1] challenges in integrating its core WWE and UFC assets and [2] a significant reliance on marquee talent. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.1%, Dividend Yield is 4.6%, FCF Yield is 11% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 36%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 34% |
| Stock buyback supportStock Buyback 3Y Total is 1.8 Bil |
| Low stock price volatilityVol 12M is 32% |
| Megatrend and thematic driversMegatrends include Digital Content & Streaming, Experience Economy & Premiumization, and Social Media & Creator Economy. Themes include Video Streaming, Show more. |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 12% |
| Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 68x |
| Key risksTKO key risks include [1] challenges in integrating its core WWE and UFC assets and [2] a significant reliance on marquee talent. |
Qualitative Assessment
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TKO (TKO) stock has lost about 10% since 2/28/2026 because of the following key factors:
1. Valuation Correction and Profit-Taking After Reaching Highs.
TKO Group Holdings (NYSE: TKO) reached a 52-week high of $226.94 on February 26, 2026, and an all-time high closing price of $224.06 on March 2, 2026. This peak in valuation likely triggered a period of profit-taking by investors, contributing to the stock's subsequent decline, as the market adjusted to these elevated price levels.
2. Analyst Downgrades and Price Target Revisions.
During the period, several analyst firms adjusted their outlook on TKO, contributing to negative sentiment. Wolfe Research downgraded TKO to a "Peer Perform" rating on March 5, 2026, while Seaport Global downgraded it to "Neutral" on February 27, 2026. Additionally, Sanford C. Bernstein reduced its price target for TKO Group from $250.00 to $240.00 on April 27, 2026. These revisions, despite an overall "Moderate Buy" consensus, signaled increased caution regarding the stock's future performance.
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TKO (TKO) stock has lost about 10% since 2/28/2026 because of the following key factors:
1. Valuation Correction and Profit-Taking After Reaching Highs.
TKO Group Holdings (NYSE: TKO) reached a 52-week high of $226.94 on February 26, 2026, and an all-time high closing price of $224.06 on March 2, 2026. This peak in valuation likely triggered a period of profit-taking by investors, contributing to the stock's subsequent decline, as the market adjusted to these elevated price levels.
2. Analyst Downgrades and Price Target Revisions.
During the period, several analyst firms adjusted their outlook on TKO, contributing to negative sentiment. Wolfe Research downgraded TKO to a "Peer Perform" rating on March 5, 2026, while Seaport Global downgraded it to "Neutral" on February 27, 2026. Additionally, Sanford C. Bernstein reduced its price target for TKO Group from $250.00 to $240.00 on April 27, 2026. These revisions, despite an overall "Moderate Buy" consensus, signaled increased caution regarding the stock's future performance.
3. Relative Underperformance Despite Strong Fiscal Q1 2026 Results.
TKO reported strong financial results for its fiscal Q1 2026, which ended March 31, 2026, on May 6, 2026. The company surpassed analyst expectations with an EPS of $1.12 against an estimated $1.11, and revenue of $1.60 billion, exceeding the $1.59 billion consensus. Despite this positive company-specific news, the stock declined, indicating that the strong performance was either already priced in or overshadowed by broader market sentiment. TKO's stock was down 7.1% year-to-date in 2026, underperforming the S&P 500 Index, which rose 8.1% over the same period as of May 19, 2026.
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Stock Movement Drivers
Fundamental Drivers
The -10.5% change in TKO stock from 2/28/2026 to 6/18/2026 was primarily driven by a -23.8% change in the company's P/E Multiple.| (LTM values as of) | 2282026 | 6182026 | Change |
|---|---|---|---|
| Stock Price ($) | 222.11 | 198.78 | -10.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,735 | 5,063 | 6.9% |
| Net Income Margin (%) | 4.1% | 4.5% | 8.3% |
| P/E Multiple | 89.1 | 67.9 | -23.8% |
| Shares Outstanding (Mil) | 78 | 77 | 1.4% |
| Cumulative Contribution | -10.5% |
Market Drivers
2/28/2026 to 6/18/2026| Return | Correlation | |
|---|---|---|
| TKO | -10.5% | |
| Market (SPY) | 9.2% | 41.6% |
| Sector (XLC) | -7.0% | 41.9% |
Fundamental Drivers
The 3.7% change in TKO stock from 11/30/2025 to 6/18/2026 was primarily driven by a 9.5% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 11302025 | 6182026 | Change |
|---|---|---|---|
| Stock Price ($) | 191.64 | 198.78 | 3.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,625 | 5,063 | 9.5% |
| Net Income Margin (%) | 4.9% | 4.5% | -9.6% |
| P/E Multiple | 68.3 | 67.9 | -0.6% |
| Shares Outstanding (Mil) | 82 | 77 | 5.4% |
| Cumulative Contribution | 3.7% |
Market Drivers
11/30/2025 to 6/18/2026| Return | Correlation | |
|---|---|---|
| TKO | 3.7% | |
| Market (SPY) | 9.9% | 27.5% |
| Sector (XLC) | -4.5% | 34.4% |
Fundamental Drivers
The 28.2% change in TKO stock from 5/31/2025 to 6/18/2026 was primarily driven by a 28.4% change in the company's Net Income Margin (%).| (LTM values as of) | 5312025 | 6182026 | Change |
|---|---|---|---|
| Stock Price ($) | 155.03 | 198.78 | 28.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,931 | 5,063 | 2.7% |
| Net Income Margin (%) | 3.5% | 4.5% | 28.4% |
| P/E Multiple | 73.7 | 67.9 | -7.8% |
| Shares Outstanding (Mil) | 82 | 77 | 5.5% |
| Cumulative Contribution | 28.2% |
Market Drivers
5/31/2025 to 6/18/2026| Return | Correlation | |
|---|---|---|
| TKO | 28.2% | |
| Market (SPY) | 28.1% | 26.0% |
| Sector (XLC) | 9.3% | 35.5% |
Fundamental Drivers
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Market Drivers
5/31/2023 to 6/18/2026| Return | Correlation | |
|---|---|---|
| TKO | ||
| Market (SPY) | 85.7% | 34.8% |
| Sector (XLC) | 81.7% | 36.9% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| TKO Return | - | - | -18% | 74% | 49% | -6% | 100% |
| Peers Return | 20% | -22% | 13% | 33% | 51% | 3% | 121% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 98% |
Monthly Win Rates [3] | |||||||
| TKO Win Rate | - | - | 25% | 83% | 67% | 33% | |
| Peers Win Rate | 50% | 35% | 43% | 63% | 55% | 53% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| TKO Max Drawdown | - | - | - | -12% | -21% | -18% | |
| Peers Max Drawdown | -30% | -36% | -24% | -18% | -25% | -16% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[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 6/18/2026 (YTD)
How Low Can It Go
| Event | TKO | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -16.3% | -18.8% |
| % Gain to Breakeven | 19.5% | 23.1% |
| Time to Breakeven | 24 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -26.7% | -9.5% |
| % Gain to Breakeven | 36.3% | 10.5% |
| Time to Breakeven | 155 days | 24 days |
In The Past
TKO's stock fell -16.3% during the 2025 US Tariff Shock. Such a loss loss requires a 19.5% gain to breakeven.
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| Event | TKO | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -26.7% | -9.5% |
| % Gain to Breakeven | 36.3% | 10.5% |
| Time to Breakeven | 155 days | 24 days |
In The Past
TKO's stock fell -16.3% during the 2025 US Tariff Shock. Such a loss loss requires a 19.5% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About TKO (TKO)
TKO Group Holdings, Inc. (TKO) is a prominent global sports and entertainment company, operating as a subsidiary of Endeavor Group Holdings, Inc. At its core, TKO focuses on creating, producing, and distributing captivating live events and a wide array of video content across numerous platforms. These platforms include traditional broadcast and pay television, modern streaming services, and extensive digital and social media channels, reaching a vast international audience in approximately 170 countries.
The company generates its revenue through several key business lines. TKO is deeply involved in media and content production, encompassing everything from major live events to television programs. Beyond content, it has a significant consumer products segment, which includes the merchandising of popular items like video games, apparel, collectibles, and toys, as well as the sale of event tickets and travel packages. Additionally, TKO leverages its extensive reach to offer corporate sponsorships and advertising solutions, providing valuable in-venue, in-broadcast, and digital marketing opportunities for brands and partners.
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1. A Disney for combat entertainment.
2. The NFL or NBA for fighting and professional wrestling.
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- Content Production and Distribution: Creating and broadcasting television programs, video content, and live event coverage across global platforms.
- Live Event Production: Organizing and staging sports and entertainment events for in-person attendance.
- Corporate Sponsorships and Advertising: Providing advertising and promotional opportunities to businesses through in-venue placements, broadcast integration, and digital impressions.
- Consumer Product Licensing and Sales: Licensing its brands for merchandise like video games, apparel, and toys, and selling travel packages and event tickets.
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TKO Group Holdings, Inc. primarily sells to other companies (B2B customers) across its major segments, with a significant portion of its revenue derived from media rights, sponsorships, and licensing agreements.
Here are some of TKO's major customer companies:
- NBCUniversal (part of Comcast Corporation, symbol: CMCSA) - A major media partner for WWE content, particularly through the Peacock streaming service.
- Netflix (symbol: NFLX) - Recently announced a significant long-term deal to exclusively carry WWE Raw.
- ESPN (part of The Walt Disney Company, symbol: DIS) - A long-standing major media partner for UFC content.
- Fox Corporation (symbol: FOXA) - Previously held significant WWE broadcast rights (SmackDown) and continues to be a player in sports broadcasting.
- Amazon.com, Inc. (symbol: AMZN) - Has been expanding its sports content offerings and holds regional rights for UFC events.
In addition to these media partners, TKO also has numerous corporate sponsors (brands) and licensing partners (e.g., video game publishers, apparel manufacturers, toy companies) that are other businesses.
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- Endeavor Group Holdings, Inc. (EDR)
- IMG ARENA (a subsidiary of Endeavor Group Holdings, Inc.)
- Learfield (a subsidiary of Endeavor Group Holdings, Inc.)
- On Location (a subsidiary of Endeavor Group Holdings, Inc.)
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Ariel Emanuel Executive Chair and Chief Executive Officer
Ariel Emanuel is the Executive Chair and Chief Executive Officer of TKO Group Holdings, a position he assumed in September 2023, becoming Executive Chair in February 2024. He is also the CEO of Endeavor, an entertainment and media agency, and Executive Chairman of WME Group. Emanuel co-founded the Endeavor Talent Agency in 1995, which later merged with the William Morris Agency in 2009 to form WME. He was instrumental in expanding Endeavor into a global sports and entertainment conglomerate, acquiring assets like IMG and UFC. His leadership was key in orchestrating the 2023 merger of UFC and WWE, which formed TKO Group Holdings.
Andrew Schleimer Chief Financial Officer
Andrew Schleimer has served as the Chief Financial Officer of TKO Group Holdings, Inc. since September 2023. Prior to this, 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). He also held roles as Executive Vice President of Strategic Development at Dick Clark Productions and Six Flags Entertainment Corporation. Mr. Schleimer began his career in investment banking at UBS Financial Services, focusing on media and entertainment.
Mark Shapiro President and Chief Operating Officer
Mark Shapiro became the President and Chief Operating Officer and a director of TKO Group Holdings, Inc. in September 2023. He also serves as President and Managing Partner of WME Group (formerly Endeavor Group Holdings, Inc.) since March 2025. Mr. Shapiro previously served as President and Chief Operating Officer of Endeavor from April 2023 to March 2025, and as its President from December 2018 to March 2025. His background includes serving as Chief Executive Officer and Executive Producer at Dick Clark Productions from 2010 to 2014, and as Director, President, and Chief Executive Officer of Six Flags Entertainment Corporation from 2006 to 2010. Earlier in his career, he spent 12 years at ESPN, Inc., where he rose to Executive Vice President of Programming and Production.
Seth Krauss Chief Administrative Officer & Senior Counsel to the Board of Directors and Senior Management
Seth Krauss has been the Chief Administrative Officer & Senior Counsel to the Board of Directors and Senior Management of TKO Group Holdings, Inc. since January 2025, having previously served as TKO Group Holdings, Inc.'s Chief Legal and Administrative Officer from September 2023 until January 2025. He also holds the title of Chief Administrative Officer & Senior Counsel to the Board of Directors and Senior Management of Endeavor Group Holdings, Inc. since January 2024, after serving as Endeavor's Chief Legal Officer from June 2014 until October 2023. Before joining Endeavor, Mr. Krauss served as the Executive Vice President and General Counsel of Take Two Interactive Software Inc. from March 2007 to June 2014.
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The key risks to TKO Group Holdings, Inc.'s business include legal and regulatory challenges, financial risks and debt management, and dependence on live events and competitive market dynamics.
- Legal and Regulatory Risks: TKO Group Holdings is currently navigating a complex landscape due to a securities fraud investigation, which poses a significant legal risk and can materially impact the company's financial condition and reputation. The ongoing nature of this legal scrutiny creates uncertainty and volatility around TKO's stock. Additionally, the company operates in a complex regulatory environment, necessitating compliance with various laws and regulations.
- Financial Risks and Debt Management: TKO faces financial risks related to its debt levels and profitability challenges. The company needs to carefully monitor its financial performance and take steps to mitigate these risks, as an inability to manage debt obligations or improve profitability could lead to financial distress. Furthermore, higher leverage and fixed capital return commitments, such as debt-funded share repurchases and ongoing dividends, could reduce financial flexibility if operations underperform.
- Dependence on Live Events and Competitive Market Dynamics: A significant portion of TKO's revenue is generated from live events, making it vulnerable to external factors like weather conditions, security incidents, and global health crises. The sports and entertainment industry is highly competitive, with numerous players vying for audience attention and market share. TKO must continually innovate, invest in its brands, and deliver high-quality content to maintain its competitive edge against other sports organizations, entertainment companies, and digital streaming services.
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The increasing efforts by athletes, particularly within the UFC, to challenge their independent contractor status and advocate for unionization or greater revenue sharing represents a clear emerging threat. A successful shift to employee status or collective bargaining could significantly increase TKO's operating costs for athlete compensation, alter talent acquisition and retention strategies, and potentially impact profitability across its Live Events and Media and Content segments.
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TKO Group Holdings, Inc. (TKO) is expected to drive future revenue growth over the next 2-3 years through several key initiatives across its integrated sports and entertainment portfolio. These include leveraging substantial media rights agreements, expanding live events and associated revenues, and growing global partnerships.
Here are 3-5 expected drivers of future revenue growth:
- New Media Rights Agreements: TKO has secured significant, long-term media rights deals for both its UFC and WWE properties. Notably, the WWE's Netflix deal for Raw, commencing in January 2025, and various ESPN agreements for WWE, along with UFC's deal with Paramount, are highlighted as substantial, high-margin revenue streams with built-in annual escalators. These agreements provide strong visibility and predictability for future revenue growth. The company expects these major U.S. media rights deals to significantly reshape its revenue mix and drive a "step-change" in 2026.
- Growth in Live Events and Site Fees: TKO continues to demonstrate strong performance and growth in live events for both UFC and WWE. This includes increasing ticket sales and securing higher site fees for events. Management expects over $300 million in aggregate value from site fees and financial incentive packages in 2026, with a normalized expectation of approximately $240 million.
- Expansion of Global Partnerships and Sponsorships: The company is actively pursuing and securing new global partners and renewing existing sponsorship deals for both UFC and WWE at increased fees. TKO has raised its 2030 partnerships revenue target from $1.0 billion to $1.2 billion, reflecting confidence in this growth area.
- International Market Expansion and Content Monetization: TKO aims to capitalize on a growing global fanbase by expanding its premium live events and tours into new and existing international markets. The company is also securing rights agreements and renewals for UFC in international territories with healthy average annual increases, further monetizing its content globally.
- Launch of New Initiatives: Strategic new ventures, such as the launch of Zuffa Boxing with Paramount+ rights, are anticipated to contribute to revenue growth, particularly through "super-fights" planned for 2026 and beyond.
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Share Repurchases
- TKO Group Holdings, Inc. authorized a $2.0 billion share repurchase program in October 2024.
- During 2025, the company repurchased $866.8 million of Class A common stock.
- TKO plans to launch up to $1 billion in additional share repurchases in March 2026, with approximately $1.096 billion remaining available under the program as of February 24, 2026.
Share Issuance
- Upon its formation in September 2023 through the merger of UFC and WWE, Endeavor received approximately 26.54 million common units of TKO OpCo and subscribed for an equal number of shares of TKO Class B common stock.
Inbound Investments
- As a new entity formed by the merger of UFC and WWE in September 2023, Endeavor Group Holdings, Inc. held a 51% stake in TKO, with WWE shareholders holding 49%.
Outbound Investments
- On February 28, 2025, TKO completed the acquisition of certain businesses operating under the IMG brand, On Location, and Professional Bull Riders (PBR) from Endeavor in a $3.25 billion all-stock transaction.
- In July 2024, TKO invested $15.0 million for an approximate 5% ownership stake in EverPass, LLC, a live sports media platform, with additional pro rata capital contributions through May 2025.
- In March 2025, TKO entered into a joint venture with Sela Company to launch a global boxing promotion business known as Zuffa Boxing.
Capital Expenditures
- Capital expenditures were $48.633 million in 2023, increasing to $74.949 million in 2024.
- The 2024 capital expenditures included approximately $19.6 million related to WWE's new headquarters facility.
- In 2025, TKO's annual capital expenditures were $126.953 million.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| TKO Stock Falls -7% With A 7-day Losing Spree On Heavy Insider Selling | 01/07/2026 | |
| TKO Stock Falls -6.6% In 6-day Spree On Insider Selling And Bearish Options | 01/06/2026 | |
| TKO Earnings Notes | 12/28/2026 | |
| 11-Day Rally Sends TKO Stock Up 15% | 12/09/2025 | |
| TKO Stock Surges 14%, With A 9-Day Winning Spree | 12/05/2025 | |
| TKO Stock Surges 9.2%, With A 7-Day Winning Spree | 12/03/2025 | |
| 7-Day Rally Sends TKO Stock Up 10% | 12/03/2025 | |
| ARTICLES | ||
| S&P 500 Stocks Trading At 52-Week High | 12/17/2025 | |
| TKO Stock Surges 15%, With A 11-Day Winning Spree | 12/09/2025 | |
| TKO Stock On Fire: Up 9.2% With 7-Day Winning Streak | 12/03/2025 | |
| 7-Day Rally Sends TKO Stock Up 9.2% | 12/03/2025 | |
| TKO Stock On Fire: Up 10% With 7-Day Winning Streak | 12/03/2025 |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 127.66 |
| Mkt Cap | 21.6 |
| Rev LTM | 10,632 |
| Op Inc LTM | 840 |
| FCF LTM | 1,451 |
| FCF 3Y Avg | 1,248 |
| CFO LTM | 2,115 |
| CFO 3Y Avg | 1,756 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 2.1% |
| Rev Chg 3Y Avg | 9.2% |
| Rev Chg Q | 7.0% |
| QoQ Delta Rev Chg LTM | 1.2% |
| Op Inc Chg LTM | 58.9% |
| Op Inc Chg 3Y Avg | 50.7% |
| Op Mgn LTM | 10.0% |
| Op Mgn 3Y Avg | 7.4% |
| QoQ Delta Op Mgn LTM | 0.9% |
| CFO/Rev LTM | 12.9% |
| CFO/Rev 3Y Avg | 14.7% |
| FCF/Rev LTM | 9.7% |
| FCF/Rev 3Y Avg | 12.0% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 21.6 |
| P/S | 2.4 |
| P/Op Inc | 22.8 |
| P/EBIT | 18.3 |
| P/E | 24.4 |
| P/CFO | 17.4 |
| Total Yield | 1.5% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 7.1% |
| D/E | 0.3 |
| Net D/E | 0.2 |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| World Wrestling Entertainment, Inc. (WWE) | 1,709 | 1,398 | 383 | 0 | |
| Ultimate Fighting Championship (UFC) | 1,502 | 1,406 | 1,292 | 1,140 | |
| IMG Worldwide, LLC (IMG) | 1,367 | 1,970 | |||
| Corporate and Other | 199 | 170 | |||
| Eliminations | -43 | -61 | |||
| Consumer Products Licensing | 26 | ||||
| Live Event | 106 | ||||
| Media Rights and Content | 768 | ||||
| Sponsorships | 132 | ||||
| Total | 4,735 | 4,884 | 1,675 | 1,140 | 1,032 |
Price Behavior
| Market Price | $198.78 | |
| Market Cap ($ Bil) | 15.4 | |
| First Trading Date | 09/12/2023 | |
| Distance from 52W High | -10.9% | |
| 50 Days | 200 Days | |
| DMA Price | $192.57 | $196.16 |
| DMA Trend | up | down |
| Distance from DMA | 3.2% | 1.3% |
| 3M | 1YR | |
| Volatility | 33.3% | 31.9% |
| Downside Capture | 77.13 | 75.46 |
| Upside Capture | 48.20 | 70.77 |
| Correlation (SPY) | 37.2% | 26.2% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.32 | 0.93 | 1.09 | 0.74 | 0.71 | 0.08 |
| Up Beta | 1.53 | 1.33 | 1.35 | 0.83 | 0.70 | -0.15 |
| Down Beta | 1.40 | 1.21 | 1.18 | 0.86 | 0.83 | 0.05 |
| Up Capture | 153% | 32% | 54% | 60% | 66% | 48% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 9 | 17 | 27 | 61 | 131 | 360 |
| Down Capture | 76% | 109% | 136% | 70% | 67% | 84% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 11 | 23 | 35 | 62 | 116 | 317 |
[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 | 20.3% | 32.2% | 0.60 | - |
| Sector ETF (XLC) | 7.2% | 13.4% | 0.27 | 35.5% |
| Equity (SPY) | 26.5% | 12.4% | 1.61 | 26.4% |
| Gold (GLD) | 24.2% | 27.5% | 0.77 | 7.9% |
| Commodities (DBC) | 19.8% | 18.8% | 0.83 | -9.6% |
| Real Estate (VNQ) | 11.0% | 13.7% | 0.52 | 27.4% |
| Bitcoin (BTCUSD) | -38.3% | 42.4% | -1.02 | 13.2% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TKO | |
|---|---|---|---|---|
| TKO | 15.4% | 33.1% | 0.82 | - |
| Sector ETF (XLC) | 7.6% | 20.7% | 0.28 | 36.9% |
| Equity (SPY) | 13.5% | 17.1% | 0.62 | 34.8% |
| Gold (GLD) | 17.1% | 18.3% | 0.76 | 8.7% |
| Commodities (DBC) | 7.5% | 19.4% | 0.29 | 5.7% |
| Real Estate (VNQ) | 1.9% | 18.9% | 0.00 | 26.1% |
| Bitcoin (BTCUSD) | 11.6% | 54.2% | 0.41 | 11.8% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TKO | |
|---|---|---|---|---|
| TKO | 7.4% | 33.1% | 0.82 | - |
| Sector ETF (XLC) | 9.0% | 22.2% | 0.47 | 36.9% |
| Equity (SPY) | 15.3% | 18.0% | 0.73 | 34.8% |
| Gold (GLD) | 12.3% | 16.1% | 0.63 | 8.7% |
| Commodities (DBC) | 5.9% | 18.0% | 0.26 | 5.7% |
| Real Estate (VNQ) | 5.3% | 20.7% | 0.22 | 26.1% |
| Bitcoin (BTCUSD) | 60.4% | 66.8% | 1.00 | 11.8% |
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Returns Analyses
Earnings Returns History
Updated 6/9/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/6/2026 | -1.6% | -3.6% | 6.8% |
| 2/25/2026 | 8.0% | 4.4% | -6.7% |
| 11/5/2025 | -3.3% | -3.0% | 8.9% |
| 8/6/2025 | 3.3% | 22.9% | 24.7% |
| 5/8/2025 | -5.5% | -4.4% | -3.3% |
| 3/19/2025 | 0.4% | 3.2% | -0.4% |
| 11/6/2024 | -1.9% | -2.0% | 19.9% |
| 8/8/2024 | 6.8% | 8.4% | 5.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 4 | 5 | 7 |
| # Negative | 7 | 6 | 4 |
| Median Positive | 5.0% | 6.9% | 8.9% |
| Median Negative | -1.9% | -4.0% | -5.0% |
| Max Positive | 8.0% | 22.9% | 24.7% |
| Max Negative | -5.5% | -6.7% | -15.0% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/6/2026 | -1.6% | -3.6% | 6.8% |
| 2/25/2026 | 8.0% | 4.4% | -6.7% |
| 11/5/2025 | -3.3% | -3.0% | 8.9% |
| 8/6/2025 | 3.3% | 22.9% | 24.7% |
| 5/8/2025 | -5.5% | -4.4% | -3.3% |
| 3/19/2025 | 0.4% | 3.2% | -0.4% |
| 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% |
| 11/7/2023 | -1.2% | -6.7% | -15.0% |
| SUMMARY STATS | |||
| # Positive | 4 | 5 | 7 |
| # Negative | 7 | 6 | 4 |
| Median Positive | 5.0% | 6.9% | 8.9% |
| Median Negative | -1.9% | -4.0% | -5.0% |
| Max Positive | 8.0% | 22.9% | 24.7% |
| Max Negative | -5.5% | -6.7% | -15.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/06/2026 | 10-Q |
| 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 |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/06/2026 | 10-Q |
| 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 |
Recent Forward Guidance
Updated 5/31/2026Latest: Q1 2026 Earnings Reported 5/6/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 5.67 Bil | 5.72 Bil | 5.78 Bil | 0 | Affirmed | Guidance: 5.72 Bil for 2026 | |
| 2026 Adjusted EBITDA | 2.24 Bil | 2.27 Bil | 2.29 Bil | 0 | Affirmed | Guidance: 2.27 Bil for 2026 | |
Prior: Q4 2025 Earnings Reported 2/25/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 5.67 Bil | 5.72 Bil | 5.78 Bil | 21.7% | Higher New | Guidance: 4.71 Bil for 2025 | |
| 2026 Adjusted EBITDA | 2.24 Bil | 2.27 Bil | 2.29 Bil | 43.8% | Higher New | Guidance: 1.57 Bil for 2025 | |
| 2026 Share Repurchases | 1.00 Bil | ||||||
Insider Activity
Updated 6/16/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Khan, Nick | Direct | Sell | 6162026 | 207.56 | 9,589 | 1,990,266 | 16,918,279 | Form | |
| 2 | Kraft, Jonathan | KPC US Equity LLC | Buy | 5182026 | 189.96 | 5,200 | 987,797 | 5,451,880 | Form | |
| 3 | Emanuel, Ariel | Chief Executive Officer | Direct | Buy | 5132026 | 185.09 | 10,805 | 1,999,875 | 28,624,774 | Form |
| 4 | Shapiro, Mark S | See Remarks | Direct | Buy | 5132026 | 185.05 | 10,807 | 1,999,868 | 23,910,150 | Form |
| 5 | Schleimer, Andrew M | Chief Financial Officer | Direct | Buy | 5132026 | 185.44 | 2,696 | 499,953 | 5,607,782 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Khan, Nick | Direct | Sell | 6162026 | 207.56 | 9,589 | 1,990,266 | 16,918,279 | Form | |
| 2 | Kraft, Jonathan | KPC US Equity LLC | Buy | 5182026 | 189.96 | 5,200 | 987,797 | 5,451,880 | Form | |
| 3 | Emanuel, Ariel | Chief Executive Officer | Direct | Buy | 5132026 | 185.09 | 10,805 | 1,999,875 | 28,624,774 | Form |
| 4 | Shapiro, Mark S | See Remarks | Direct | Buy | 5132026 | 185.05 | 10,807 | 1,999,868 | 23,910,150 | Form |
| 5 | Schleimer, Andrew M | Chief Financial Officer | Direct | Buy | 5132026 | 185.44 | 2,696 | 499,953 | 5,607,782 | Form |
| 6 | Khan, Nick | Direct | Sell | 5062026 | 185.99 | 9,518 | 1,770,287 | 16,944,090 | Form | |
| 7 | Khan, Nick | Direct | Sell | 4072026 | 198.59 | 9,518 | 1,890,225 | 19,982,292 | Form | |
| 8 | Kapral, Shane | Deputy Chief Financial Officer | Direct | Sell | 3102026 | 199.15 | 254 | 50,584 | 19,716 | Form |
| 9 | Kapral, Shane | Deputy Chief Financial Officer | Direct | Sell | 3042026 | 221.91 | 616 | 136,697 | 78,334 | Form |
| 10 | Khan, Nick | Direct | Sell | 3042026 | 220.29 | 9,518 | 2,096,737 | 24,242,634 | Form | |
| 11 | Kapral, Shane | Deputy Chief Financial Officer | Direct | Sell | 2242026 | 210.00 | 616 | 129,360 | 203,490 | Form |
| 12 | Kapral, Shane | Deputy Chief Financial Officer | Direct | Sell | 2182026 | 208.01 | 616 | 128,134 | 329,696 | Form |
| 13 | Kapral, Shane | Deputy Chief Financial Officer | Direct | Sell | 2102026 | 211.54 | 616 | 130,309 | 465,600 | Form |
| 14 | Kapral, Shane | Deputy Chief Financial Officer | Direct | Sell | 2032026 | 202.04 | 616 | 124,457 | 569,147 | Form |
| 15 | Krauss, Seth D | See Remarks | Direct | Sell | 1292026 | 200.71 | 2,271 | Form | ||
| 16 | Kapral, Shane | Deputy Chief Financial Officer | Direct | Sell | 1292026 | 202.72 | 615 | 124,671 | 695,925 | Form |
| 17 | Khan, Nick | Direct | Sell | 1262026 | 201.31 | 9,518 | 1,916,048 | 24,069,541 | Form | |
| 18 | Kapral, Shane | Deputy Chief Financial Officer | Direct | Sell | 1222026 | 201.98 | 1,238 | 250,051 | 817,615 | Form |
| 19 | Khan, Nick | Direct | Sell | 1222026 | 201.98 | 7,744 | 1,564,133 | 26,072,353 | Form | |
| 20 | Shapiro, Mark S | See Remarks | Direct | Sell | 1222026 | 201.98 | 14,363 | 2,901,039 | 23,914,432 | Form |
| 21 | Schleimer, Andrew M | Chief Financial Officer | Direct | Sell | 1222026 | 201.98 | 11,978 | 2,419,316 | 5,563,337 | Form |
| 22 | Krauss, Seth D | See Remarks | Direct | Sell | 1222026 | 201.22 | 14,016 | 2,820,266 | 456,965 | Form |
| 23 | Kapral, Shane | Deputy Chief Financial Officer | Direct | Sell | 1222026 | 203.77 | 613 | 124,911 | 1,077,128 | Form |
| 24 | Kapral, Shane | Deputy Chief Financial Officer | Direct | Sell | 1132026 | 198.83 | 749 | 148,924 | 622,537 | Form |
| 25 | Krauss, Seth D | See Remarks | Direct | Sell | 1132026 | 200.39 | 5,712 | 1,144,611 | 455,079 | Form |
| 26 | Kapral, Shane | Deputy Chief Financial Officer | Direct | Sell | 1052026 | 204.21 | 1,946 | 397,385 | 838,062 | Form |
| 27 | Shapiro, Mark S | See Remarks | Direct | Sell | 1052026 | 204.08 | 32,022 | 6,535,050 | 21,396,155 | Form |
| 28 | Schleimer, Andrew M | Chief Financial Officer | Direct | Sell | 1052026 | 204.08 | 5,739 | 1,171,215 | 3,314,055 | Form |
| 29 | Krauss, Seth D | See Remarks | Direct | Sell | 1052026 | 207.67 | 9,777 | 2,030,424 | 1,657,857 | Form |
| 30 | Kapral, Shane | Deputy Chief Financial Officer | Direct | Sell | 12292025 | 216.36 | 253 | 54,739 | 164,217 | Form |
| 31 | Kapral, Shane | Deputy Chief Financial Officer | Direct | Sell | 12292025 | 214.08 | 254 | 54,376 | 216,649 | Form |
| 32 | Kapral, Shane | Deputy Chief Financial Officer | Direct | Sell | 12162025 | 206.44 | 254 | 52,436 | 261,353 | Form |
| 33 | Kapral, Shane | Deputy Chief Financial Officer | Direct | Sell | 12092025 | 202.41 | 254 | 51,412 | 307,663 | Form |
| 34 | Khan, Nick | Direct | Sell | 12052025 | 195.16 | 9,519 | 1,857,735 | 21,269,541 | Form | |
| 35 | Kapral, Shane | Deputy Chief Financial Officer | Direct | Sell | 12032025 | 192.82 | 254 | 48,976 | 342,063 | Form |
| 36 | Kapral, Shane | Deputy Chief Financial Officer | Direct | Sell | 11262025 | 178.32 | 254 | 45,293 | 361,633 | Form |
| 37 | Kapral, Shane | Deputy Chief Financial Officer | Direct | Sell | 11192025 | 183.56 | 254 | 46,624 | 418,884 | Form |
| 38 | Khan, Nick | Direct | Sell | 11052025 | 188.26 | 9,519 | 1,792,065 | 22,309,732 | Form | |
| 39 | Khan, Nick | Direct | Sell | 10072025 | 197.82 | 9,519 | 1,883,021 | 25,325,087 | Form | |
| 40 | Bynoe, Peter C B | Direct | Buy | 9172025 | 203.00 | 740 | 150,220 | 1,052,961 | Form | |
| 41 | Khan, Nick | Direct | Sell | 9052025 | 186.43 | 9,519 | 1,774,606 | 25,625,656 | Form | |
| 42 | Khan, Nick | Direct | Sell | 7222025 | 167.36 | 9,519 | 1,593,116 | 24,598,014 | Form | |
| 43 | Khan, Nick | Direct | Sell | 7222025 | 170.82 | 45,168 | 7,715,598 | 26,732,336 | Form | |
| 44 | Khan, Nick | Direct | Sell | 7082025 | 176.96 | 9,519 | 1,684,452 | 35,685,934 | Form | |
| 45 | Bynoe, Peter C B | Direct | Buy | 6062025 | 169.59 | 980 | 166,198 | 465,864 | Form | |
| 46 | Silver, Lake West Voteco, Llc | Endeavor Operating Company, LLC | Buy | 6042025 | 158.32 | 1,579,080 | 249,999,946 | 658,376,411 | Form | |
| 47 | Endeavor, Group Holdings, Inc | Endeavor Operating Company, LLC | Buy | 6042025 | 158.32 | 1,579,080 | 249,999,946 | 658,376,411 | Form | |
| 48 | Khan, Nick | Direct | Sell | 6042025 | 158.46 | 9,519 | 1,508,353 | 33,429,222 | Form |
Industry Resources
| Communication Services Resources |
| Variety |
| The Hollywood Reporter |
| Adweek |
| Movies & Entertainment Resources |
| Deadline |
| IndieWire |
| Screen Daily |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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