Match
MTCH · NasdaqServices-Computer Programming, Data Processing, Etc. · Fiscal year ends Dec 31
Match reported revenue of $3.5B in the fiscal year ended Dec 2025, up 0.2% from the year before. Operating income was $873M, an operating margin of 25.0%, and net income was $613M. Operating cash flow of $1.1B less capital expenditure of $57M left free cash flow of $1B. Net debt was $2.9B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $3B | $3.2B | $3.4B | $3.5B | $3.5B |
| Cost of revenue | $839M | $960M | $954M | $991M | $948M |
| Gross profit | $2.1B | $2.2B | $2.4B | $2.5B | $2.5B |
| Research & development | $241M | $334M | $384M | $442M | $450M |
| Operating income | $852M | $515M | $917M | $823M | $873M |
| Interest expense | $130M | $146M | $160M | $160M | $148M |
| Pre-tax income | $256M | $377M | $777M | $704M | $746M |
| Income tax | −$20M | $15M | $125M | $153M | $133M |
| Net income | $277M | $360M | $651M | $551M | $613M |
| Diluted EPS | 0.93 | 1.24 | 2.26 | 2.02 | 2.38 |
| Diluted shares | 305M | 295M | 293M | 279M | 262M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $815M | $572M | $862M | $966M | $1B |
| Receivables | $188M | $192M | $299M | $325M | $303M |
| Current assets | $1.2B | $882M | $1.3B | $1.4B | $1.4B |
| Net PP&E | $163M | $176M | $195M | $158M | $131M |
| Goodwill | $2.4B | $2.3B | $2.3B | $2.3B | $2.3B |
| Total assets | $5.1B | $4.2B | $4.5B | $4.5B | $4.5B |
| Deferred revenue | $262M | $253M | $211M | $166M | $151M |
| Current liabilities | $1.2B | $556M | $532M | $549M | $1B |
| Short-term debt | $101M | $0 | – | $0 | $424M |
| Long-term debt | $3.8B | $3.8B | $3.8B | $3.8B | $3.5B |
| Shareholders' equity | −$204M | −$360M | −$20M | −$64M | −$254M |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $912M | $526M | $897M | $933M | $1.1B |
| Capital expenditure | $80M | $49M | $67M | $51M | $57M |
| Free cash flow | $833M | $477M | $829M | $882M | $1B |
| Depreciation & amortisation | $41M | $44M | $62M | $87M | $67M |
| Stock-based compensation | $147M | $204M | $232M | $267M | $258M |
| Acquisitions | $860M | $26M | $12M | – | – |
| Share buybacks | $0 | $482M | $546M | $753M | $789M |
| Dividends paid | – | – | $0 | $0 | $186M |
| Dividend per share | – | – | – | 0.19 | 0.76 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 6.9% | 5.5% | 3.4% | 0.2% |
| Operating income growth (YoY) | – | −39.5% | 78.0% | −10.2% | 6.0% |
| EPS growth (YoY) | – | 33.3% | 82.3% | −10.6% | 17.8% |
| Gross margin | 71.9% | 69.9% | 71.6% | 71.5% | 72.8% |
| Operating margin | 28.5% | 16.2% | 27.3% | 23.7% | 25.0% |
| Net margin | 9.3% | 11.3% | 19.4% | 15.8% | 17.6% |
| ROCEEBIT ÷ (assets − current liabilities) | 21.9% | 14.2% | 23.1% | 21.0% | 25.3% |
| Free cash flow margin | 27.9% | 14.9% | 24.7% | 25.4% | 29.4% |
| Cash conversion (CFO ÷ net income) | 3.30x | 1.46x | 1.38x | 1.69x | 1.76x |
| Receivable days | 23 | 22 | 32 | 34 | 32 |
| Interest cover | 6.53x | 3.54x | 5.73x | 5.14x | 5.91x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $3.1B | $3.3B | $3B | $2.9B | $2.9B |
| Current ratio | 1.04x | 1.59x | 2.39x | 2.54x | 1.42x |
Recent filings
More in Services-Computer Programming, Data Processing, Etc.
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.