TKO Group Holdings
TKO on NYSE. TKO Group Holdings sells sports events, media rights and merchandise to fans, broadcasters and sponsors. Market value $13.7bn.
Price checks use the past 12 months to June 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to December 2025.
Cash flow or capital spending isn't reported, so free cash flow is unknown.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Media & telecom stocks that passed both tests
This is not advice. Check the numbers below.
We could not compute this from the filings.
You pay 38.6 years of operating profit for the business. The average large US company costs around 18.
Each dollar kept in the business earns 4 cents a year. Above 10 is good.
Quality score: 60 of 100. Price score: 20 of 100. Our list needs 70 on quality and 60 on price.
$176.46 a share, 3% above its 1-year low
Over the past year the price has ranged from $171.19 to $226.94.
Dividend: 0.5% a year
Paid in its latest year
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||
| Revenue | $3.2bn | $4.9bn | $4.7bn |
| Operating margin | |||
| Operating margin | 11.7% | 0.6% | 17.6% |
| Debt to equity | |||
| Debt to equity | 0.73 | 0.73 | 1.07 |
| Shares outstanding | |||
| Shares outstanding | 0.08bn | 0.17bn | 0.19bn |
Health checks
- Free cash flow positiveNot enough data
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)5 of 7 checks we could run
- Profit backed by cash (accruals)Yes
- Debt1.07× equity
- Revenue growth, five yearsUnknown
- Buying back its own sharesNo, 134% more shares since 2023
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $1.5 billion last quarter, up 18% on a year ago.
- Profit: $102 million, up 3% on a year ago.
- It keeps 19 cents of each $1 of sales as operating profit, up from 14 cents a year earlier.
- 62% fewer shares than a year ago. Each share owns a bit more of the company.
- Debt is $4.3 billion more than cash, up from $2.5 billion a year ago.
- Sales grew on a year ago in 3 of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $1.5bn |
| December 2024 | $928m |
| March 2025 | $1.3bn |
| June 2025 | $1.3bn |
| September 2025 | $1.1bn |
| December 2025 | $1.0bn |
| March 2026 | $1.6bn |
| June 2026 | $1.5bn |
| Quarter to | Amount |
|---|---|
| September 2024 | $23m |
| December 2024 | $31m |
| March 2025 | $58m |
| June 2025 | $98m |
| September 2025 | $41m |
| December 2025 | -$2m |
| March 2026 | $89m |
| June 2026 | $102m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- 4 November 2026
- Last annual report (10-K)
- 25 February 2026
- Next quarterly (estimated, 10-Q)
- 2 November 2026
Who owns it
5 long-term investors we follow own it, up from 4 last quarter. 656 funds in all.
- GAMCO InvestorsMario Gabelli
- Value
- $4m
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Lindsell TrainNick Train | $423m | 16.1% | Cut |
| Gates Capital ManagementJeff Gates | $83m | 2.7% | Cut |
| Gotham Asset ManagementJoel Greenblatt | $14m | <0.1% | Cut |
| GAMCO InvestorsMario Gabelli | $4m | <0.1% | |
| First Manhattan Co.First Manhattan partners | $202,719 | <0.1% | New |
Largest holders overall
- BlackRock$1.1bnAdded
- Morgan Stanley$947mCut
- State Street$933mCut
- Vanguard Capital Management$807mCut
- Massachusetts Financial Services$754mAdded
- Ninety One UK$632mCut
- Vanguard Portfolio Management$613m
- Price T Rowe Associates$531mAdded
- XN LP$502mAdded
- Lindsell Train$423mCut
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
12 investors own more than 5%.
- Endeavor Group Holdings, Inc.at least 62.6%+0.9 pts(filed with 8 related holders)Since 30 December 2025
What they said
The information set forth in Item 3 of this Schedule 13D is hereby incorporated by reference into this Item 4.
Read the filing - Silver Lake West VoteCo, L.L.C.at least 61.7%+0.7 pts(filed with 1 related holder)Since 3 June 2025
What they said
Item 4 of the Schedule 13D is hereby amended and supplemented as follows: The information set forth in Item 3 of this Schedule 13D is hereby incorporated by reference into this Item 4.
Read the filing - Egon Durbanat least 61.0%0.0 pts(filed with 2 related holders)Since 24 March 2025
- Patrick Whitesell61.0%0.0 ptsSince 12 March 2025
What they said
The information set forth in Item 6 of this Schedule 13D is hereby incorporated by reference into this Item 4.
Read the filing - Silver Lake West HoldCo II, L.P.at least 61.0%0.0 pts(filed with 1 related holder)Since 12 March 2025
- Vincent K. McMahonPassive investor7.9%Since 30 June 2025
- STATE STREET CORPORATIONPassive investor6.2%−2.0 ptsSince 30 June 2026
- Vanguard Capital ManagementPassive investor6.1%Since 31 March 2026
- SSGA FUNDS MANAGEMENT, INC.Passive investor6.0%Since 31 March 2026
- BlackRock, Inc.Passive investor5.3%Since 31 March 2025
- Ninety One PlcPassive investorat least 4.8%−1.6 pts(filed with 1 related holder)Since 31 March 2026
- Lindsell TrainPassive investorat least 4.5%(filed with 2 related holders)Since 31 December 2024
- Morgan StanleyPassive investorSold down below 5%Since 30 June 2026
- Ariel EmanuelInsider or founderSold down below 5%Since 24 March 2025
What they said
Item 4 of this Schedule 13D is hereby amended and supplemented as follows: On March 24, 2025 (the "Closing Date"), Silver Lake and its affiliates completed the previously announced acquisition (the "Endeavor Acquisition") of Endeavor Group Holdings, Inc. ("Endeavor"), the…
Read the filing - The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
- Patrick WhitesellSold down below 5%Since 24 March 2025
What they said
Item 4 of this Schedule 13D is hereby amended and supplemented as follows: On March 24, 2025 (the "Closing Date"), Silver Lake and its affiliates completed the previously announced acquisition (the "Endeavor Acquisition") of Endeavor Group Holdings, Inc. ("Endeavor"), the…
Read the filing
| Holder | Stake | Since | |
|---|---|---|---|
Endeavor Group Holdings, Inc. | at least 62.6%+0.9 pts (filed with 8 related holders) | 30 December 2025 | What they saidThe information set forth in Item 3 of this Schedule 13D is hereby incorporated by reference into this Item 4. Read the filing |
Silver Lake West VoteCo, L.L.C. | at least 61.7%+0.7 pts (filed with 1 related holder) | 3 June 2025 | What they saidItem 4 of the Schedule 13D is hereby amended and supplemented as follows: The information set forth in Item 3 of this Schedule 13D is hereby incorporated by reference into this Item 4. Read the filing |
Egon Durban | at least 61.0%0.0 pts (filed with 2 related holders) | 24 March 2025 | |
Patrick Whitesell | 61.0%0.0 pts | 12 March 2025 | What they saidThe information set forth in Item 6 of this Schedule 13D is hereby incorporated by reference into this Item 4. Read the filing |
Silver Lake West HoldCo II, L.P. | at least 61.0%0.0 pts (filed with 1 related holder) | 12 March 2025 | |
Vincent K. McMahon Passive investor | 7.9% | 30 June 2025 | |
STATE STREET CORPORATION Passive investor | 6.2%−2.0 pts | 30 June 2026 | |
Vanguard Capital Management Passive investor | 6.1% | 31 March 2026 | |
SSGA FUNDS MANAGEMENT, INC. Passive investor | 6.0% | 31 March 2026 | |
BlackRock, Inc. Passive investor | 5.3% | 31 March 2025 | |
Ninety One Plc Passive investor | at least 4.8%−1.6 pts (filed with 1 related holder) | 31 March 2026 | |
Lindsell Train Passive investor | at least 4.5% (filed with 2 related holders) | 31 December 2024 | |
Morgan Stanley Passive investor | Sold down below 5% | 30 June 2026 | |
Ariel Emanuel Insider or founder | Sold down below 5% | 24 March 2025 | What they saidItem 4 of this Schedule 13D is hereby amended and supplemented as follows: On March 24, 2025 (the "Closing Date"), Silver Lake and its affiliates completed the previously announced acquisition (the "Endeavor Acquisition") of Endeavor Group Holdings, Inc. ("Endeavor"), the… Read the filing |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 | |
Patrick Whitesell | Sold down below 5% | 24 March 2025 | What they saidItem 4 of this Schedule 13D is hereby amended and supplemented as follows: On March 24, 2025 (the "Closing Date"), Silver Lake and its affiliates completed the previously announced acquisition (the "Endeavor Acquisition") of Endeavor Group Holdings, Inc. ("Endeavor"), the… Read the filing |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 4 insiders bought $5m of shares on the open market. 6 sold $67m, $67m of it under preset trading plans.
- Khan NickDirectorSoldunder a preset trading plan
- Date
- 14 September 2026
- Shares
- 9,589
- Price
- $194.77
- Value
- $2m
- Khan NickDirectorSoldunder a preset trading plan
- Date
- 19 August 2026
- Shares
- 6,546
- Price
- $199.41
- Value
- $1m
- Schleimer Andrew MChief Financial OfficerSoldunder a preset trading plan
- Date
- 18 August 2026
- Shares
- 9,942
- Price
- $194.39
- Value
- $2m
- Emanuel ArielChief Executive Officer, DirectorSoldunder a preset trading plan
- Date
- 18 August 2026
- Shares
- 24,702
- Price
- $194.39
- Value
- $5m
- SHAPIRO MARK SSee Remarks, DirectorSoldunder a preset trading plan
- Date
- 18 August 2026
- Shares
- 19,120
- Price
- $194.39
- Value
- $4m
- Khan NickDirectorSoldunder a preset trading plan
- Date
- 18 August 2026
- Shares
- 8,248
- Price
- $194.39
- Value
- $2m
- Khan NickDirectorSoldunder a preset trading plan
- Date
- 13 August 2026
- Shares
- 9,589
- Price
- $197.17
- Value
- $2m
- Khan NickDirectorSoldunder a preset trading plan
- Date
- 21 July 2026
- Shares
- 12,998
- Price
- $181.11
- Value
- $2m
- Khan NickDirectorSoldunder a preset trading plan
- Date
- 20 July 2026
- Shares
- 10,081
- Price
- $183.56
- Value
- $2m
- Khan NickDirectorSoldunder a preset trading plan
- Date
- 13 July 2026
- Shares
- 9,589
- Price
- $182.63
- Value
- $2m
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 14 September 2026 | Khan Nick Director | Sold under a preset trading plan | 9,589 | $194.77 | $2m |
| 19 August 2026 | Khan Nick Director | Sold under a preset trading plan | 6,546 | $199.41 | $1m |
| 18 August 2026 | Schleimer Andrew M Chief Financial Officer | Sold under a preset trading plan | 9,942 | $194.39 | $2m |
| 18 August 2026 | Emanuel Ariel Chief Executive Officer, Director | Sold under a preset trading plan | 24,702 | $194.39 | $5m |
| 18 August 2026 | SHAPIRO MARK S See Remarks, Director | Sold under a preset trading plan | 19,120 | $194.39 | $4m |
| 18 August 2026 | Khan Nick Director | Sold under a preset trading plan | 8,248 | $194.39 | $2m |
| 13 August 2026 | Khan Nick Director | Sold under a preset trading plan | 9,589 | $197.17 | $2m |
| 21 July 2026 | Khan Nick Director | Sold under a preset trading plan | 12,998 | $181.11 | $2m |
| 20 July 2026 | Khan Nick Director | Sold under a preset trading plan | 10,081 | $183.56 | $2m |
| 13 July 2026 | Khan Nick Director | Sold under a preset trading plan | 9,589 | $182.63 | $2m |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
- It isn't cheap on profits: 38.6× operating profit.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.