TKO Group Holdings

TKO

Entertainment · Communication Services

Price

$185.13

+0.35 (+0.19%)

Market Cap

$13.88B

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Share count rising — dilution

+133.3% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 83.2M (2021) → 194.0M (2025)

TKO Group Holdings owns two of the most recognized sports entertainment brands in the world: WWE (professional wrestling) and UFC (mixed martial arts fighting). WWE produces live events and TV shows like Monday Night Raw, while UFC organizes combat sports competitions featuring fighters from around the globe. The company sells tickets, broadcasts events, and licenses its content to fans in more than 180 countries.

TKO makes money through media rights deals, live event ticket sales, sponsorships, and merchandise. Its biggest revenue driver is a landmark media rights agreement with Netflix and other broadcasters worth billions of dollars over multiple years. The company operates globally but generates most revenue in the United States, and its moat comes from owning irreplaceable live sports content that attracts large, loyal audiences. The main risk is that both WWE and UFC depend heavily on a small number of high-profile athletes and personalities to drive viewership, and losing key talent could hurt ratings and revenue.

Winston Score History

Politician Trades

1 trades / 12mo

1 Congressional buy and 0 sells on TKO in the last 12 months.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+25.9% YoY

YoY Growth Rate

Strong revenue growth

EPS Growth

+54.7% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (12%)

Research and development spending

Insider Activity

17.8%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Position

Cash flow positive

$1.7B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Strong grower

TKO Group Holdings is growing revenue at 26% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

54.0%

Healthy — 54.0% gross margin

Operating Margin

21.2%

Excellent — 21.2% operating margin

ROCE

4.2%

Weak — 4.2% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

+9.0%

Steady sales growth (9.0% YoY)

EPS YoY

+11.3%

Earnings growing (11.3% YoY)

Healthy double-digit earnings growth — what compounders look like.

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Cash Conversion

804%

Turns 804% of profit into real cash

FCF Margin

33.5%

Converts sales into free cash efficiently (33.5%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

Debt / Equity

1.39

Elevated debt (1.39)

Interest Cover

10.42x

Comfortably covers interest (10.4x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

64.7x

Expensive — P/E 64.7

P/E over 35. The market is pricing in heavy, sustained growth.

P/E vs Forward

+36.1

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (64.7 → 28.6)

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Dividends

Dividend Yield

1.60%

Small dividend — 1.60% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth

-34.4%

Dividend cut (-34.4% YoY) — warning sign

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