회사 개요
TKO Group Holdings, Inc. operates primarily as a sports and entertainment conglomerate that generates revenue through the distribution of programming content, ticket sales for global live events, site fees, and various marketing partnerships across its business segments. The company functions within the Communication Services sector, specifically categorized under the Entertainment industry, which positions it as a key player in the global consumption of live sports and combat sports intellectual property. This entity maintains a significant scale with a current market capitalization of $15.55B, an annual revenue of $4.74B, and a workforce comprising approximately 4,000 employees. These valuation and revenue figures indicate that the company holds a substantial position in the market, commanding a large equity value relative to its sales and employing a dedicated team to manage its complex portfolio of assets including UFC, WWE, and IMG.
재무 건전성
The company reported a revenue of $4.74B for the trailing twelve months, with a net income of $195.40M and an EBITDA of $1.38B, revealing a substantial gap between top-line revenue and bottom-line profit that highlights a rigorous cost structure inherent in the entertainment and live event sectors. While the EBITDA reflects operating cash generation before interest and taxes, the net income figure demonstrates how non-operating expenses and interest obligations significantly impact the final profitability available to shareholders. The business maintains a free cash flow of $759.96M, which provides the necessary financial flexibility to fund operations, service debt obligations, and potentially return capital to stakeholders without relying on external financing. Analyzing the three key margins shows a gross margin of 59.8%, an operating margin of 9.8%, and a profit margin of 4.1%, indicating that while the company retains a healthy portion of revenue from direct sales, operating expenses and other costs consume a significant majority of that gross profit before arriving at the final net income. On the balance sheet, the company holds $831.10M in cash against total debt of $4.06B, resulting in a debt-to-equity ratio of 43.92, which suggests a leveraged balance sheet where interest payments are a considerable burden relative to equity. The current ratio stands at 1.26, indicating that the company possesses sufficient current assets to cover its short-term liabilities, though the margin of safety is relatively modest. Return on Equity is calculated at 5.6% and Return on Assets at 3.6%, metrics that reveal the current level of management effectiveness in generating returns from the shareholders' capital and the total asset base, respectively.
밸류에이션 평가
Valuation multiples for the stock show a trailing P/E ratio of 86.81 compared to a forward P/E of 52.69, implying that the market expects a significant expansion in earnings per share in the coming periods to justify the current high multiple. The price-to-book ratio is recorded at 4.10, indicating that the market values the company's equity at a substantial premium over its book value, likely reflecting the intangible nature of its intellectual property and brand assets. Alternative valuation metrics include a price-to-sales ratio of 3.28 and an EV/EBITDA of 17.52, which provide different perspectives on value by normalizing for capital structure and focusing on revenue generation or cash flow generation capabilities. Regarding price levels, the stock has a 52-week high of $226.94 and a 52-week low of $136.11, meaning the current price sits within a wide historical range but is notably below the recent peak, suggesting potential volatility or a correction from highs. The beta value is 0.41, which indicates that the stock's price volatility is significantly lower than the broader market, making it less sensitive to general market swings compared to typical large-cap equities.
Growth & Income
Revenue growth for the year-over-year period stands at 11.9%, while earnings growth is listed as N/A in the available data, preventing a direct comparison but suggesting that revenue expansion is currently the primary driver of top-line activity rather than immediate profit scaling. The company pays a dividend with a yield of 1.6% and maintains a payout ratio of 101.8%, indicating that the current dividend distribution exceeds the reported net income for the trailing twelve months, which warrants close scrutiny regarding sustainability relative to the reported earnings figure. Given the payout ratio exceeding 100%, the company appears to be utilizing cash reserves or other capital sources to fund the dividend rather than reinvesting all earnings into organic growth at this specific moment. Overall, the growth and income profile presents a mix of double-digit revenue expansion and a high-yield dividend that is currently funded at a level higher than the reported annual net income, creating a unique capital allocation dynamic for the asset.