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TKO Group Holdings, Inc. operates as a sports and entertainment company. The company operates through three segments: UFC, WWE and IMG. The UFC segment distributes programming content; ticket sales and site fees associated with the business's global live events; partnerships and marketing; and consumer products licensing agreements of UFC-branded products. The WWE segment consists of media rights fees associated with the distribution of its programming content; ticket sales and site fees associated with the business's global live events; partnerships and marketing; and consumer products licensing agreements of WWE-branded products. The IMG segment specializing in media rights management and sales, multi-channel content production and distribution, brand partnerships, strategic consulting, digital services, and event management. This segment also offers hospitality business, offering ticketing, curated guest experiences, live event production and travel management services. It is also involved in the merchandising of video games, apparel, equipment, trading cards, memorabilia, digital goods, and toys. In addition, the company engages in the sponsorships and advertising business, which offers sale of in-venue and in-broadcast advertising assets, content product integration, and digital impressions. The company was incorporated in 2023 and is based in New York, New York. TKO Group Holdings, Inc. is a subsidiary of WME Group, Inc.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $4.7B | $1.3B | $195M | $1.2B | 5.2% | -3.1% | 1977.0% |
| 2024 | $4.9B | $511M | $9M | $467M | 0.2% | 51.5% | -95.8% |
| 2023 | $3.2B | $646M | $223M | $172M | 5.4% | 182.8% | -42.3% |
| 2022 | $1.1B | $603M | $387M | $489M | 68.1% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,140.15 | 3,224.80 | 4,884.24 | 4,735.15 |
| Operating Revenue | - | 1,140.15 | 3,224.80 | 4,884.24 | 4,735.15 |
| Cost Of Revenue | - | 325.59 | 1,576.76 | 2,623.86 | 1,903.15 |
| Gross Profit | - | 814.56 | 1,648.04 | 2,260.38 | 2,832 |
| Operating Expense | - | 270.17 | 1,250.73 | 2,229.44 | 1,996.98 |
| Selling General And Administration | - | 210.14 | 1,026.68 | 1,771.51 | 1,511.99 |
| Total Expenses | - | 595.76 | 2,827.49 | 4,853.30 | 3,900.14 |
| Operating Income | - | 544.39 | 397.31 | 30.95 | 835.02 |
| Total Operating Income As Reported | - | 544.39 | 375.78 | 30.95 | 835.02 |
| EBITDA | - | 603.15 | 645.61 | 511.03 | 1,320.60 |
| Normalized EBITDA | - | 603.15 | 667.14 | 511.03 | 1,320.60 |
| EBIT | - | 543.12 | 396.59 | 25.59 | 809.35 |
| Interest Expense | - | 139.57 | 229.60 | 235.79 | 202.72 |
| Net Interest Income | - | -139.57 | -229.60 | -235.79 | -202.72 |
| Other Non Operating Income Expenses | - | -1.27 | 20.81 | -5.36 | -25.67 |
| Other Income Expense | - | -1.27 | -0.72 | -5.36 | -25.67 |
| Interest Expense Non Operating | - | 139.57 | 229.60 | 235.79 | 202.72 |
| Net Non Operating Interest Income Expense | - | -139.57 | -229.60 | -235.79 | -202.72 |
| Pretax Income | - | 403.55 | 166.98 | -210.20 | 606.62 |
| Tax Provision | - | 14.32 | 33.20 | 37.26 | 73.77 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | -4.28 | 0 | 0 |
| Net Income Continuous Operations | - | 389.02 | 143 | -245.68 | 546.29 |
| Net Income From Continuing And Discontinued Operation | - | 387.28 | 223.48 | 9.41 | 195.40 |
| Net Income From Continuing Operation Net Minority Interest | - | 387.28 | 223.48 | 9.41 | 195.40 |
| Net Income | - | 387.28 | 223.48 | 9.41 | 195.40 |
| Net Income Common Stockholders | - | 0 | -35.23 | 9.41 | 195.40 |
| Net Income Including Noncontrolling Interests | - | 389.02 | 143 | -245.68 | 546.29 |
| Normalized Income | - | 387.28 | 240.73 | 9.41 | 195.40 |
| Diluted NI Availto Com Stockholders | - | 0 | -35.23 | 9.41 | 195.40 |
| Basic Average Shares | 83.16 | 83.16 | 82.81 | 81.34 | - |
| Diluted Average Shares | 83.16 | 83.16 | 82.81 | 171.87 | - |
| Reconciled Depreciation | - | 60.03 | 249.02 | 485.45 | 511.25 |
| Reconciled Cost Of Revenue | - | 325.59 | 1,551.79 | 2,596.34 | 1,876.90 |
| Total Unusual Items | - | - | -21.53 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | - | - | -21.53 | 0 | 0 |
| Minority Interests | - | -1.75 | 80.48 | 255.08 | -350.89 |
| Earnings From Equity Interest Net Of Tax | - | -0.21 | 9.21 | 1.78 | 13.44 |
| Special Income Charges | - | - | -21.53 | 0 | 0 |
| Impairment Of Capital Assets | - | - | 21.53 | 0 | 0 |
| Depreciation Amortization Depletion Income Statement | - | 60.03 | 224.05 | 457.92 | 484.99 |
| Depreciation And Amortization In Income Statement | - | 60.03 | 224.05 | 457.92 | 484.99 |
| Otherunder Preferred Stock Dividend | - | 387.28 | 258.70 | 0 | 0 |
| Amortization | 50.40 | 46.70 | - | - | - |
| Amortization Of Intangibles Income Statement | 50.40 | 46.70 | - | - | - |
| Depreciation Income Statement | 12.90 | 13.30 | - | - | - |
Communication Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| TKO Group Holdings, Inc.this co. | TKO | $38.7B | 198.06↑ premium | 10.36 | 5.2% | 31.75 |
| Electronic Arts Inc. | EA | $51.0B | 57.50 | 7.54 | 13.1% | 31.86 |
| Take-Two Interactive Software, Inc. | TTWO | $40.2B | -134.89 | 11.46 | -8.5% | 33.54 |
| Live Nation Entertainment, Inc. | LYV | $37.5B | 75.55 | 138.26 | 183.0% | 20.54 |
| EchoStar Corporation | SATS |
| - |
| - |
| - |
| - |
| - |
| - |
| $36.1B |
| -2.49 |
| 6.26 |
| -251.4% |
| -4.08 |
| Fox Corporation | FOXA | $27.5B | 12.17 | 2.30 | 18.9% | 7.70 |
| Fox Corporation | FOX | $24.7B | 10.90 | 2.06 | 18.9% | 6.96 |
| Omnicom Group Inc. | OMC | $21.6B | - | 1.79 | -0.5% | 31.05 |
| Charter Communications, Inc. | CHTR | $20.2B | 4.05 | 1.26 | 31.1% | 5.51 |
| Peer Median | - | 10.90 | 4.28 | 16.0% | 14.12 | |