What is the revenue and EPS growth rate for TKO Group Holdings year over year?

What factors drove the changes in TKO Group Holdings's revenue and profit?

What guidance did TKO Group Holdings's management provide for the next earnings period?

What were the key takeaways from TKO Group Holdings's earnings call?

What does TKO Group Holdings do and what are its main business segments?

What were the key takeaways from TKO Group Holdings’s earnings call?

What is TKO Group Holdings's latest dividend and current dividend yield?

Did TKO Group Holdings beat or miss consensus estimates last quarter?

- **Record Media Deals**: $7.7B UFC/Paramount and $1.6B WWE/ESPN agreements lock in 10+ years of high-margin growth. 
- **$300M+ Financial Incentives**: 2026 FIPs to cover 30%+ of live event costs, expanding to $380M-$420M by 2030. 
- **Shareholder Returns**: $1.3B returned in 2025 (dividends + buybacks). 2026+ to repurchase $1B+ annually. 
- **White House Risk/Reward**: $60M net cost for 250th Anniversary, but $30M+ sponsorships and brand exposure justify one-time investment. 
- **Zuffa Growth**: 2026 to feature 16+ fight cards, with Conor McGregor leading 2-4 super fights/year. 
- **2026 Outlook**: 21% revenue growth, 43% EBITDA expansion, 40% margin target. 


**【CEO Summary Section】**
- **Media Rights Milestones**: Secured $7.7B UFC deal with Paramount and $1.6B WWE deal with ESPN, driving high-margin, escalatable revenue. 
- **Capital Return Program**: Doubled quarterly dividend to $0.78/share, repurchased $867M in 2025, and announced $1B+ additional buybacks. 
- **White House Event**: $60M cost for 250th Anniversary event, with $30M+ offset from corporate sponsorships. 
- **Zuffa Boxing Expansion**: Signed Conor McGregor for 2026, aiming to expand into 2-4 super fights/year. 

**【CFO Financial Commentary】**
- **2025 Results**: Revenue $4.735B, Adjusted EBITDA $1.585B (33.5% margin). UFC EBITDA +20%, WWE EBITDA +44%. 
- **2026 Outlook**: Revenue $5.675B-$5.775B (+21%), EBITDA $2.24B-$2.29B (+43%). Key drivers: 
  1. Media Rights ($300M+ uplift) 
  2. Global Partnerships ($1.2B+ target by 2030) 
  3. FIPs ($300M+ financial incentive packages) 
  4. World Cup ($75M EBITDA) 
- **Free Cash Flow**: 2025 FCF $1.159B (73% conversion). 2026+ FCF to exceed 60% of EBITDA. 

**【Q&A Highlights】**
- **White House Event ROI**: $60M net cost, $30M+ offset from sponsorships. Viewed as long-term brand builder. 
- **Zuffa Strategy**: Conor McGregor deal signals expansion into 2-4 super fights/year, with 16+ fight cards in 2026. 
- **Capital Allocation**: Prioritize buybacks (2025: $867M) and dividend growth. 2026+ FCF to expand 5x. 
- **Saudi Arabia Events**: 3 WWE PLEs in 2026 vs 1 in 2025, with financial incentive packages doubling. 
- **M&A Posture**: 2026 is execution year; no active M&A pipeline. 


TKO Group Holdings, Inc.(TKO)-20260226-2025 Q4 Earnings call transcript

- **Media Rights Wins**: $7.7B UFC-Paramount deal and ESPN-WWE partnership lock in high-margin, escalatable revenue.
- **Financial Strength**: Q3 2025 revenue $1.12B, EBITDA $360M; raised 2025 guidance to $4.7B revenue and $1.58B EBITDA.
- **Boxing Breakthrough**: Canelo vs. Crawford generated $47M gate, 41M viewers; Zuffa JV to launch 2026 with Paramount media rights.
- **Global Growth**: 2026 to include three Saudi Arabia WWE events, expanded site fees, and >$450M partnership revenue.

**【CEO Summary Section】**
- **Landmark Media Rights Deals**: Secured a 7-year, $7.7B UFC deal with Paramount and a 5-year WWE premium live events partnership with ESPN, driving recurring revenue and global reach.
- **Financial Milestones**: Announced a $1B stock buyback, doubled quarterly dividend, and raised full-year 2025 guidance to $4.69B-$4.72B in revenue and $1.57B-$1.58B in adjusted EBITDA.
- **Live Events Success**: UFC 319 set a Chicago record, and WWE’s Summerslam sold over 100K tickets at MetLife Stadium. Zuffa Boxing’s Canelo vs. Crawford fight generated $47M in gate revenue and 41M global viewers.
- **Strategic Initiatives**: Expanded site fee negotiations globally, with 2026 featuring three Saudi Arabia WWE events and new boxing media rights with Paramount.

**【CFO Financial Commentary】**
- **Q3 2025 Results**: Revenue $1.12B, adjusted EBITDA $360M (32% margin). UFC revenue $325M (-8%), WWE $402M (+23%), IMG $337M (-59%).
- **Free Cash Flow**: Generated $399M, with 111% conversion of adjusted EBITDA. Raised 2025 free cash flow target to >60% of adjusted EBITDA.
- **2026 Outlook**: Media rights deals with Paramount and ESPN to add high-margin, escalatable revenue. Boxing JV (Zuffa) to contribute management fees and media rights commissions.

**【Q&A Key Highlights】**
- **Media Rights Strategy**: Paramount’s base-tier subscription model for UFC expands reach, while ESPN’s promotional ecosystem boosts WWE’s footprint. International rights negotiations prioritize brand, reach, and revenue.
- **Boxing Growth**: Canelo vs. Crawford event showcased super fight potential, with 2-4 such events/year. Zuffa Boxing JV to launch in 2026 with Paramount media rights.
- **Site Fees Momentum**: 2026 to include three Saudi Arabia WWE events, plus new site fee opportunities in the U.S. and globally, targeting multi-million dollar deals.
- **Partnership Expansion**: New sponsors like Wingstop and Maybelline highlight >$450M in 2025 partnership revenue, with long-term goal of $1B by 2030.

TKO Group Holdings, Inc. (TKO) Q3 2025 Earnings Call Transcript

- **Revenue Growth**: Q2 revenue of $1.308 billion (+10%) driven by UFC and WWE, with EBITDA up 75% to $526 million.
- **Strategic Deals**: $1.625 billion ESPN PLE deal with annual escalators, retaining rights to monetize 6 NXT PLEs annually.
- **Margin Expansion**: UFC and WWE EBITDA margins at 59%, up from 55% in 2024, supported by site fees and partnerships.
- **Boxing Expansion**: Zuffa Boxing JV to generate $10 million/year in fees, with 2-3 super fights/year targeting $10 million per event.
- **Free Cash Flow**: $375 million in Q2, targeting >60% conversion for 2025, supporting $2 billion share buyback program.

**【Management Opening Remarks】**
- Seth Zaslow outlined the call structure, emphasizing forward-looking statements and non-GAAP financial measures. He highlighted the importance of live events, partnerships, and the ESPN media rights deal for WWE's premium live events (PLEs). The company reaffirmed its commitment to a balanced capital return strategy, including a $2 billion share repurchase program expected to commence in Q3 2025.

**【CEO Commentary】**
- **UFC Performance**: 11 total events, including 8 with live audiences, driving $416 million in revenue and $245 million in adjusted EBITDA. Partnerships and marketing revenue increased 39% to $86 million, driven by new deals with Monster Energy and Meta. The Wingstop partnership expanded to include WWE PLEs.
- **WWE Growth**: $556 million in revenue, up 22%, with $330 million in adjusted EBITDA. Live events revenue rose 29% due to higher ticket prices and site fees. Partnerships revenue surged 136% to $58 million, fueled by WrestleMania 41's record 28 sponsors. Media rights revenue increased 7% on Netflix's SmackDown expansion.
- **IMG & PBR Integration**: IMG's adjusted EBITDA improved to $29 million (from -$120 million), driven by new production deals. PBR's 2025 events saw record attendance, with expanded media coverage on FOX Nation and CW.
- **Strategic Initiatives**: Renewed focus on site fees (e.g., Qatar's Visit Fighter Night) and cross-property partnerships. The ESPN PLE deal secures $1.625 billion over 5 years, with annual escalators and retained rights to monetize NXT PLEs and original content.

**【CFO Financial Commentary】**
- **Q2 2025 Results**: Consolidated revenue of $1.308 billion (+10%), adjusted EBITDA of $526 million (+75%), and margin of 40%. Free cash flow of $375 million (71% conversion) offset $125 million in antitrust payments. Debt stood at $2.769 billion, with $535 million in cash.
- **Segment Breakdown**: 
  - **UFC**: $416 million revenue (+5%), $245 million EBITDA (+6%). Direct costs decreased due to event mix, while SG&A rose 12%.
  - **WWE**: $556 million revenue (+22%), $330 million EBITDA (+31%). Media rights and partnerships drove 59% margin, up from 55%.
  - **IMG**: $307 million revenue (-4%), $29 million EBITDA (vs. -$120 million). Cost reductions offset rights loss.
- **Guidance Update**: Full-year revenue raised to $4.63-$4.69 billion (+$135M midpoint), EBITDA to $1.54-$1.56 billion (+$40M). Free cash flow target >60% remains unchanged.

**【Q&A Highlights】**
- **ESPN Deal Impact**: The 5-year PLE agreement with annual escalators provides $325 million AAV, with retained rights to monetize 6 NXT PLEs annually. ESPN's D2C platform and linear reach enhance halo effects for partnerships and live events.
- **UFC Renewal Progress**: In final stages of negotiations, balancing monetization with reach. Cross-promotion opportunities with ESPN+ and boxing initiatives could drive incremental revenue.
- **Boxing JV Update**: Zuffa Boxing JV launched with $10 million management fee. 2-3 super fights/year (e.g., Canelo-Crawford) generate $10 million per event in fees. Media rights negotiations underway for 2026 launch.
- **Financial Discipline**: 2025 synergy savings of $15 million (run rate $25M) on track for $40M by 2026. Capital allocation prioritizes growth, dividends, and share buybacks while maintaining investment-grade balance sheet.

TKO Group Holdings, Inc. (TKO) Q2 2025 Earnings Call Transcript

- **Q1 Beat Expectations**: Revenue $1.269B (+4%), EBITDA $417M (+23%), driven by UFC (+15%) and WWE (+24%).
- **Record Events**: UFC Fight Night London ($25M+), WWE WrestleMania 41 (124K attendees, $100M+ revenue).
- **Strategic Wins**: Meta AI partnership, Monster Energy 9-figure renewal, TKO takeover in Kansas City (1.2M fans).
- **Free Cash Flow**: $136M (32% EBITDA), with 2025 guidance for >60% conversion (excluding $300M nonrecurring costs).
- **Growth Drivers**: Boxing JV, IMG cost savings ($40M+), and global site fee expansion (e.g., Western Australia multi-year deal).


**【CEO Opening Remarks】**
- Q1 2025 revenue and profitability exceeded internal expectations, driven by strong performance at UFC and WWE.
- Acquired IMG, On Location, and PBR businesses are being integrated to unlock synergies, with initial cost savings of $40M+ identified.
- UFC live events set new records (e.g., Fight Night London grossed $25M+), while WWE's WrestleMania 41 broke all-time records with 124,000 attendees and $100M+ in revenue.
- Meta partnership to leverage AI for fighter rankings and immersive experiences; Monster Energy renewed 9-figure sponsorship deal.
- TKO takeover in Kansas City showcased unified live event strategy, with 1.2M fans across 40 events.

**【CFO Financial Review】**
- Q1 2025 revenue: $1.269B (+4% YoY), Adjusted EBITDA: $417M (+23% YoY), margin: 33%.
- UFC: Revenue $360M (+15%), EBITDA $227M (+17%), margin 63%.
- WWE: Revenue $392M (+24%), EBITDA $194M (+38%), margin 50%.
- IMG: Revenue $476M (-13%), EBITDA $74M (-10%), margin 15%.
- Free cash flow: $136M (32% EBITDA conversion), impacted by $175M in nonrecurring payments.
- Full year 2025 guidance: Revenue $4.49B-$4.56B, EBITDA $1.49B-$1.53B, excluding $300M nonrecurring costs.

**【Q&A Key Takeaways】**
- **UFC Media Rights**: Discussions with ESPN and others ongoing; no update on split rights vs single partner. ESPN remains key partner.
- **Boxing Strategy**: JV with Saudi Arabia to launch 12+ annual events, plus 1-4 super fights/year (e.g., Canelo-Crawford). TKO will handle production and media rights.
- **Capital Returns**: $2B share buyback program to start Q2/Q3; dividend payments to continue. Free cash flow conversion >60% excluding nonrecurring costs.
- **IMG Integration**: $15M+ cost savings in 2025, with majority realized by 2026. On Location hospitality revenue surged 75% at WrestleMania.
- **Risks**: Economic uncertainty could impact partnerships and premium experiences; no direct tariff impact on core businesses.


TKO (TKO)-8 May 25-2025 Q1 Earnings call transcript

- **Record 2024 Performance**: $2.8B revenue, 45% EBITDA margin, with UFC +22% Q4 and WWE live events up 13%.
- **Strategic Partnerships**: Netflix Raw deal, Saudi boxing league, and $375M sponsorship target for 2025.
- **2025 Growth Drivers**: Media rights step-up, WrestleMania site fees, and 60%+ free cash flow conversion (excluding one-time costs).
- **Capital Return**: $2B share buyback and $0.38 quarterly dividend starting Q2.
- **Key Risks**: Media rights renewal uncertainty, international event margin dilution, and Ali Act regulatory risk for boxing.


**【CEO Summary Section】**
- TKO delivered record financial performance in 2024, with integration of UFC and WWE driving $100M+ net savings and exceeding cost synergy targets.
- Media partnerships expanded reach: Raw on Netflix reached 300M subscribers, SmackDown on USA Network saw 100% Q4 viewership growth, and NXT on CW up 12% YTD.
- Live Events set records: UFC had 10 all-time highest grossing events, including 5 in top 10; WWE achieved 40+ ticket sales records, with Bad Blood in Atlanta as largest U.S. arena event in history.
- Sponsorship growth: UFC +28% YOY, WWE +20%, fueled by premium live events and brand partnerships (e.g., IBM, Monster Energy renewal as UFC's largest deal).
- 2025 priorities: renew domestic media rights, integrate IMG/On Location/PBR acquisitions, and return capital via $2B share buyback and $0.38 quarterly dividend.

**【CFO Financial Commentary】**
- 2024 Full Year: Revenue $2.8B, Adjusted EBITDA $1.25B, margin 45%. UFC segment +22% Q4 revenue to $344M, WWE segment down 10% to $298M due to short-term Raw deal.
- 2025 Outlook: Revenue $2.93B-$3.0B, Adjusted EBITDA $1.35B-$1.39B. Key drivers: Netflix Raw deal step-up, WrestleMania site fees, international UFC events, and cost synergies.
- Free Cash Flow: 2024 $509M (41% conversion). 2025 targets ~60% excluding $300M non-recurring costs (litigation payments, acquisition fees).
- Capital Structure: $2.78B debt, $526M cash. Refinanced credit facility to reduce annual interest by $20M.

**【Q&A Highlights】**
- **UFC Media Rights Renewal**: In exclusive talks with Disney/ESPN, window until April. Content urgency and year-round calendar give TKO leverage; aim to balance reach & monetization.
- **Boxing Expansion**: Near-term deal with Saudi Arabia for boxing league, $10M+ fee with earn-in equity. Tyson vs. Jake Paul on Netflix (65M U.S. streams) validates demand.
- **Sponsorship Growth**: 2025 target $375M, driven by On Location integration, dynamic ad placements, and PLE sponsorships (e.g., Survivor Series +100% YOY).
- **Netflix Collaboration**: Raw on Netflix weekly Top 10 globally; exploring ancillary programming like behind-the-scenes docs. 2025 will see full year of media rights step-up.
- **Margins & Costs**: 2025 site fees offset lower-margin international UFC events. 2024 savings from $100M+ cost synergies will support 150-200bps margin expansion.


TKO (TKO)-26 Feb 25-2024 Q4 Earnings call transcript

TKO (TKO)-6 Nov 24-2024 Q3 Earnings call transcript

TKO (TKO)-8 Aug 24-2024 Q2 Earnings call transcript

TKO (TKO)-8 May 24-2024 Q1 Earnings call transcript

- **Record Revenue Growth**: 2023 combined revenue $2.619B (+8%), with UFC up 13% and WWE up 3%.
- **$5.2B Netflix Deal**: 10-year partnership for Raw, SmackDown, and live events, commencing 2025. Global reach with 260M subscribers.
- **Live Event Dominance**: UFC sold out 20 events, WWE broke attendance records at Fastlane and Survivor Series.
- **2024 Guidance**: $2.575-2.65B revenue, $1.15-1.17B EBITDA, free cash flow >50% of EBITDA.
- **Cost Synergies**: Target $50-100M annual savings, with 2024 co-located events reducing costs.

**【CEO Summary Section】**
- **Revenue Growth**: Full year 2023 combined revenue of $2.619 billion, up 8% YoY. UFC segment revenue increased 13% to $1.292 billion, driven by media rights, live events, and sponsorships. WWE segment revenue grew 3% to $1.326 billion.
- **Strategic Deals**: $5.2 billion 10-year Netflix deal for Raw, SmackDown, and premium live events, commencing Jan 2025. Renewed media rights with ESPN, Comcast, and CW, increasing AAV by 1.4x.
- **Live Events Success**: UFC sold out 20 events, including record-breaking fights in Abu Dhabi and New York. WWE broke attendance records at Fastlane and Survivor Series, with Royal Rumble 2024 setting a new gate record.
- **International Expansion**: New partnerships in Middle East, Australia, and India. First meaningful site fee for WWE in Australia, and 5-year venue deal with Honda Center in Anaheim.

**【CFO Financial Commentary】**
- **Financial Highlights**: Full year 2023 adjusted EBITDA of $1.092 billion (42% margin). UFC EBITDA of $756 million (58% margin), WWE EBITDA of $533 million (40% margin). Free cash flow of $420 million, with 2024 target of $1.15-1.17 billion adjusted EBITDA.
- **2024 Guidance**: Revenue $2.575-2.65 billion, excluding Q4 Raw media rights ($75 million impact). Expect $50-100 million in cost synergies, with 2024 free cash flow conversion >50% of EBITDA.
- **Cost Optimization**: $50 million in 2023 savings, targeting upper end of $50-100 million annual run rate. Capital expenditures of $49 million in 2023, $50 million expected in 2024 for HQ and Mexico City facilities.

**【Q&A Highlights】**
- **Netflix Deal Impact**: Global reach with 260 million subscribers, first look rights for new content. LATAM, UK, and Canada prioritized markets. WWE Network to sunset as content migrates to Netflix.
- **Cost Synergies**: Co-locating UFC and WWE events (e.g., Anaheim) reduces venue costs and T&E. 2024 calendar includes 5 UFC live events vs. 6 in 2023.
- **Sponsorship Growth**: UFC sponsorship up 18% to $196 million, WWE up 11% to $69 million. New partners like Anheuser-Busch and Slim Jim driving high-margin revenue.
- **Litigation Update**: Class action lawsuit against UFC expected to trial soon; company confident in legal and factual position.

Actual											0.31	0.52	0.57	0.16	0.51	0.34	0.52	0.76	0.77	0.49	0.45	0.43	0.67	-0.26	-0.16	-1.26	0.72	0.28	0.28	0.69	1.17	0.47	-0.08
Forecast											0.2578	0.153	0.3843	0.2798	0.2273	0.2501	0.3547	0.5374	0.6547	0.5032	0.5877	0.4191	0.9129	0.5529	0.5248	0.4247	0.8291	0.5167	0.1468	0.6087	1.1634	0.5862	0.2374
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+20.25%	+239.87%	+48.32%	-42.82%	+124.37%	+35.95%	+46.60%	+41.42%	+17.61%	-2.62%	-23.43%	+2.60%	-26.61%	-147.02%	-130.49%	-396.68%	-13.16%	-45.81%	+90.74%	+13.36%	+0.57%	-19.82%	-133.70%

TKO

TKO fundamentals

TKO Q4 2025 Earnings

Earnings Call

You can ask Aime

TKO

TKO fundamentals

TKO Q4 2025 Earnings

Earnings Call

TKO Earnings Call Summary for Q4/20255:00 PM on Feb 25, 2026

TKO Earnings Call Summary for Q3/20255:00 PM on Nov 5, 2025

TKO Earnings Call Summary for Q2/20255:00 PM on Aug 6, 2025

TKO Earnings Call Summary for Q1/20255:00 PM on May 8, 2025

TKO Earnings Call Summary for Q4/20245:00 PM on Feb 26, 2025

You can ask Aime