Communication Services · Movies & Entertainment · US stock · price as of 22 Oct 2026
Key indicators
Price
$177.72
52-week range
$170.92 – $226.94
Market cap
$13.5B
P/E (trailing)
128.4×
EV / EBITDA
11.5×
Free-cash-flow yield
13.3%
Dividend yield
1.8%
Revenue (last 12 months)
$5.3B
Revenue growth (3y a year)
21.0%
Operating margin
18.8%
Return on invested capital
11.8%
Net debt / EBITDA
2.6×
Fair value
Fair value (average of valid models)$255.55 middle half of models $221 – $291
Versus priceUndervalued+44% to fair value
P/E multiple
$215.10
P/B multiple
$230.39
P/S multiple
$238.56
EV/EBITDA multiple
$290.84
EV/revenue multiple
$220.76
5-year DCF, EBITDA exit
$346.77
10-year DCF, revenue exit
$343.18
5-year DCF, revenue exit
$300.91
10-year DCF, growth exit
$273.06
5-year DCF, growth exit
$224.57
Dividend discount, stable
$198.37
Dividend discount, multi-stage
$276.88
Earnings power value
$162.72
Model uncertainty
Medium
X-Ray Score
52/ 100 · Medium confidence · ahead of 50% of sector peers
Valuation76
Growth46
Profitability54
Financial health38
Dividends27
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
TKO Group Holdings is a live sports and entertainment company that owns UFC, the mixed martial arts organisation, and WWE, the professional wrestling business. It also owns Professional Bull Riders. Its customers are broadcasters and streaming platforms that pay for media rights, sponsors, and fans who attend events or purchase licensed merchandise.
Revenue comes from media rights deals with broadcasters and streaming services, ticket sales, sponsorships, and consumer products and licensing. The last twelve months brought in $5.3 billion, and growth over the last three years was 21.0% a year. The operating margin is 18.8%, and the business earns a profit of 12% on the capital invested in it. It carries net debt of 2.6 times EBITDA. A dividend is paid, with a yield of 1.8%.
StocksXray gives TKO Group Holdings, Inc. an X-Ray Score of 52 out of 100 (medium confidence), ahead of 50% of the S&P 500 stocks in its sector. Its strongest lens is valuation (76) and its weakest is dividends (27).
Our fair value (the average of the valid models) is $255.55 (range $220.76 to $290.84). At $177.72 the stock trades 30% below that value, so the label is "Undervalued" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
TKO Group Holdings, Inc. (TKO)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$45.91
$64.22
$79.60
$138.67
$206.51
$177.72
Market cap
–
–
$6.6B
$23.8B
$40.1B
$13.5B
P/E
–
–
–
6,933.5×
91.4×
128.4×
EV / revenue
–
–
2.8×
5.3×
9.1×
3.3×
EV / EBITDA
–
–
15.0×
53.1×
32.6×
11.5×
Price / free cash flow
–
–
24.8×
40.7×
31.2×
7.5×
Free-cash-flow yield
–
–
4.0%
2.5%
3.2%
13.3%
Price / book
–
–
1.6×
5.8×
10.7×
4.0×
Dividend yield
–
–
4.85%
–
–
1.77%
Fundamentals checklist ● 3 Good · ● 8 Average · ● 1 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−9.6%Good
Risk models
Altman Z score0.9×Bad
Piotroski F-Score6 of 9Average
Growth
Revenue growth (3y)21.0%Good
Growth consistency80%Average
Balance sheet
Current ratio1.3×Average
Net debt / EBITDA2.6×Average
Interest cover4.1×Average
Valuation
Fair value vs price1.4×Good
EBIT / EV yield5.7%Average
Profitability
Return on invested capital11.8%Average
Operating margin18.8%Average
Red flags
Heavy dilution — Share count up more than 5% year on year
Heavy dilution — Share count up more than 5% year on year
Heavy dilution — Share count up more than 5% year on year
Heavy dilution — Share count up more than 5% year on year
Heavy dilution — Share count up more than 5% year on year
XStocksXray
TKO Group Holdings, Inc. (TKO)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
1,032
2,674
3,225
4,884
4,735
5,302
Gross profit
–
–
–
–
–
–
Operating income
391
533
376
31
835
998
Net income
274
0
176
6
546
230
Diluted EPS ($)
–
–
-0.43
0.02
2.26
1.38
Free cash flow
441
395
266
586
1,286
1,795
Gross margin
–
–
–
–
–
–
Operating margin
37.9%
19.9%
11.7%
0.6%
17.6%
18.8%
Net margin
26.5%
0.0%
5.4%
0.1%
11.5%
4.3%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
–
5,859
15,391
15,112
15,496
16,264
Cash
1,032
305
361
620
831
592
Total debt
–
2,762
2,739
2,762
3,762
4,629
Equity
2,513
1,956
4,109
4,091
3,737
3,396
Dividend per share ($)
–
–
3.86
–
–
–
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value is the average of up to 15 valuation models, most of them anchored to the company's own multiples, so it stays near the price and should be read as a range, not a point. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.
