TKO
TKO · NYSEServices-Amusement & Recreation Services · Fiscal year ends Dec 31
TKO reported revenue of $4.7B in the fiscal year ended Dec 2025, down 3.1% from the year before. Operating income was $835M, an operating margin of 17.6%, and net income was $195M. 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 | $1B | $1.1B | $3.2B | $4.9B | $4.7B |
| Selling, general & admin | $242M | $210M | $1B | $1.8B | $1.5B |
| Operating income | $391M | $544M | $376M | $31M | $835M |
| Interest expense | $102M | $140M | $230M | $236M | $203M |
| Pre-tax income | $289M | $404M | $167M | −$210M | $607M |
| Income tax | $16M | $14M | $33M | $37M | $74M |
| Net income | $274M | $389M | −$35M | $9M | $195M |
| Diluted EPS | – | – | −0.43 | 0.02 | 2.26 |
| Diluted shares | – | – | 83M | 172M | 194M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $875M | $181M | $236M | $620M | $831M |
| Receivables | – | $45M | $135M | $423M | $558M |
| Current assets | – | $268M | $492M | $1.5B | $2.3B |
| Net PP&E | – | $175M | $608M | $630M | $640M |
| Goodwill | – | $2.6B | $8.4B | $8.4B | $8.4B |
| Total assets | – | $3.6B | $12.7B | $15.1B | $15.5B |
| Payables | – | $17M | $42M | $246M | $195M |
| Deferred revenue | – | $72M | $119M | $417M | $663M |
| Current liabilities | – | $230M | $472M | $1.4B | $1.8B |
| Short-term debt | – | $23M | $22M | $27M | $38M |
| Long-term debt | – | $2.7B | $2.7B | $2.7B | $3.7B |
| Total liabilities | – | $3B | $3.8B | $5B | $6.2B |
| Shareholders' equity | $1.2B | $569M | $4.1B | $4.1B | $3.7B |
| Backlog (remaining obligations) | – | – | $6B | $7B | $16.7B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $441M | $502M | $266M | $586M | $1.3B |
| Depreciation & amortisation | $63M | $60M | $224M | $458M | $485M |
| Stock-based compensation | $64M | $24M | $65M | $103M | $118M |
| Acquisitions | – | – | – | – | $9M |
| Share buybacks | – | – | $100M | $165M | $867M |
| Dividends paid | – | – | – | – | $185M |
| Dividend per share | – | – | 3.86 | – | – |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 10.5% | 182.8% | 51.5% | −3.1% |
| Operating income growth (YoY) | – | 39.2% | −31.0% | −91.8% | 2598.3% |
| EPS growth (YoY) | – | – | – | – | 11200.0% |
| Operating margin | 37.9% | 47.7% | 11.7% | 0.6% | 17.6% |
| Net margin | 26.5% | 34.1% | −1.1% | 0.2% | 4.1% |
| Return on equityBlank when equity is negative | 21.9% | 68.4% | −0.9% | 0.2% | 5.2% |
| ROCEEBIT ÷ (assets − current liabilities) | – | 16.2% | 3.1% | 0.2% | 6.1% |
| Cash conversion (CFO ÷ net income) | 1.61x | 1.29x | −7.56x | 62.3x | 6.58x |
| Receivable days | – | 15 | 15 | 32 | 43 |
| Interest cover | 3.83x | 3.90x | 1.64x | 0.13x | 4.12x |
| Debt ÷ equity | – | 4.85x | 0.67x | 0.68x | 1.01x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | – | $2.6B | $2.5B | $2.1B | $2.9B |
| Current ratio | – | 1.17x | 1.04x | 1.08x | 1.26x |
Recent filings
More in Services-Amusement & Recreation Services
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.