Match Group, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Match Group, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	3,140	3,307	1,730	2,051	2,391	2,983	3,189	3,365	3,479	3,487
Cost of revenue	756	651	911	1,127	636	839	960	954	991	948
Gross profit	2,384	2,656	819	924	1,755	2,144	2,229	2,410	2,488	2,539
Research and development	213	251	132	152	170	241	334	384	442	450
Selling and marketing	1,247	1,381	420	427	480	566	535	586	622	626
General and administrative	530	719	182	256	311	415	436	414	439	486
Operating income	-32.6	188	549	645	746	852	515	917	823	873
Interest expense	109	105	94.6	111	131	130	146	160	160	148
Interest income			4.9	4.4	2.7		4.37	26.8	41.1	21.9
Other non-operating income	60.7	-16.2	7.51	-2.03	15.9	-465	8.03	19.8	40.8	21
Pre-tax income	-81.1	67	462	532	631	256	377	777	704	746
Income tax	-64.9	-291	11.3	15.1	43.3	-19.9	15.4	125	153	133
Income from continuing operations	-41.5		366	414	528	277	364	652	551
Net income to minority interests	25.1	53.1	131	113	59.3	-1.17	-2.03	-0.07	0.04	0.02
Net income	-41.3	305	627	454	162	278	362	652	551	613
EBITDA	39.1	263	584	680	787	893	559	979	911	940
EPS, basic	-0.24	1.76	3.48	2.50	0.73	1.01	1.28	2.36	2.12	2.53
EPS, diluted	-0.24	1.47	3.05	2.15	0.66	0.93	1.24	2.26	2.02	2.38
Shares, basic (weighted)	173	173	180	182	223	275	283	276	260	243
Shares, diluted (weighted)	173	184	197	202	256	305	295	293	279	262
Dividend per share	0.00	0.00							0.19	0.76

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	1,329	273	187	466	739	815	572	862	966	1,028
Short-term investments		5	123	20	0	11.8	8.72	6.2	4.73	3.46
Receivables	220	304	279	116	137	188	192	299	325	303
Other current assets	204	185	228	97.9	144	203	109	104	102	92.5
Total current assets	1,843	2,125	2,763	3,708	1,020	1,218	882	1,271	1,398	1,427
Property, plant and equipment	306	315	319	101	108	163	176	195	158	131
Lease right-of-use assets			0	34.4	85	114	93.7	95.7	86.4	102
Goodwill	1,924	2,559	1,245	1,240	1,271	2,412	2,348	2,343	2,311	2,339
Intangible assets	355	664	631	228	231	772	358	306	215	193
Long-term investments	123	65	235	353
Other non-current assets	92.1	73.3	135	64.2	124	163	141	134	121	154
Total assets	4,646	5,868	6,875	8,365	3,046	5,063	4,183	4,508	4,466	4,461
Accounts payable	62.9	76.6	74.9	20.2	29.2	37.9	13.7	13.2	18.3	9.58
Accrued liabilities	345	367	435	182	232	768	290	307	365	422
Deferred revenue	286	342	210	219	239	262	253	211	166	151
Short-term debt	20	13.8	13.8	13.8	0	101	0		0	424
Total current liabilities	713	800	884	1,010	500	1,168	556	532	549	1,007
Long-term debt	1,582	1,979	2,246	2,890	3,841	3,829	3,836	3,842	3,849	3,549
Lease liabilities				26	83.5	114	97.4	98.5	84.6	102
Other non-current liabilities	44.2	38.2	66.8	26.2	86.4	116	104	102	85.9	104
Total liabilities	2,635	2,921	3,364	4,737	4,460	5,259	4,542	4,527	4,529	4,714
Total debt	1,623	2,102	2,348	2,890	3,841	3,829	3,836	3,842	3,849	3,549
Paid-in capital	11,922	12,165	12,022	11,684	7,089	8,164	8,274	8,529	8,756	8,721
Retained earnings	290	595	1,259	1,690	-8,422	-8,145	-7,783	-7,131	-6,580	-5,966
Treasury stock	-10,177	-10,227	-10,310	-10,310	0	0	-482	-1,033	-1,791	-2,586
Other comprehensive income	-166	-104	-129	-136	-81.5	-224	-369	-385	-450	-423
Shareholders' equity	1,869	2,430	2,843	2,928	-1,414	-204	-360	-19.5	-63.7	-254
Minority interests	141	517	709	970	1.04	7.93	0.99	0.48	0	0.11
Total equity	2,011	2,947	3,511	3,628	-1,413	-196	-359	-19.1	-63.7	-253
Total liabilities and equity	4,646	5,868	6,875	8,365	3,046	5,063	4,183	4,508	4,466	4,461
Shares outstanding					267	283	280	269	251	233

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-16.2	358	758	567	222	277	360	651	551	613
Depreciation and amortization	71.7	74.3	34.8	34.4	41.3	41.4	43.6	61.8	87.5	67.1
Stock-based compensation	105	265	66	89.7	102	147	204	232	267	258
Deferred income tax	-119	-285	-23	-12.8	15.4	-58	-30	26.6	-15	44.9
Change in receivables	1.28	-115	17.3	-17.9	-24.2	-34	-6.67	-107	-29.8	23.6
Change in payables	-52.4	-25.3	21.4	33.7	24.2	459	-473	-5.96	-9.4	17.2
Cash from operations	344	417	988	938	789	912	526	897	933	1,080
Capital expenditures	-78	-75.5	-31.4	-39	-42.4	-80	-49.1	-67.4	-50.6	-56.8
Acquisitions	-18.4	-147	1.14	-3.76	0	-860	-25.7	-11.6
Purchases of investments	-314	-29.9	-450	-59.6
Sales and maturities of investments	172	186	137	165
Cash from investing	12.9	42	-173	-330	-3,922	-940	-71.7	-76.6	-58.5	-46.8
Debt issued	400			350	1,000	500	0	0	0	700
Debt repaid	0	-74.4	0	-303	-400	0	0	0	0	-425
Stock issued			0	0	1,422	0	0	13	6.5	0.4
Share buybacks	-309	-56.4	-133	-216	0	0	-482	-546	-753	-789
Dividends paid	0	0	-105	0	0			0	0	-186
Cash from financing	-492	-197	-313	400	1,788	111	-689	-534	-758	-985
Exchange rate effect	-6.43	11.6	-1.89	-1.57	5.43	-7.57	-7.81	3.78	-12.3	13.2
Net change in cash	-141	273	500	1,007	-2,401	76.2	-243	290	104	61.8
Free cash flow	266	341	957	899	746	833	477	829	882	1,024
Interest paid	107	92.5	75.8	85.6	116	118	138	152	153	124
Income taxes paid	69.1	35.6	40.7	34.6	41	54.8	60	102	145	99.5

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $40.55 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	74.8%	Gross profit / revenue.
Operating margin	28.2%	Operating income / revenue.
EBITDA margin	29.8%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	24.6%	Pre-tax income / revenue.
Net margin	20.2%	Net income / revenue.
FCF margin	32.5%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	34.4%	Cash from operations / revenue.
Effective tax rate	18.0%	Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)	17.5%	Net income / average total assets.
Return on invested capital (ROIC)	29.6%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	12.7%	Research and development expense / revenue.
Stock-based pay / revenue	6.9%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.9%	Capital expenditures / revenue.
D&A / revenue	1.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	0.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	3.0%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	7.8%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	2.0%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	4.4%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	7.7%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	6.0%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	19.2%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	3.2%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	3.2%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	18.9%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	3.6%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	11.3%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	19.2%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	30.5%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	17.8%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	24.3%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	29.2%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	15.8%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	27.1%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	6.5%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	16.0%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	29.0%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	6.5%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	300.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y	-0.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	2.2%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	7.9%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-5.9%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-3.8%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	0.5%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.72x	Current assets / current liabilities.
Quick ratio	1.56x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.06x	(Cash + short-term investments) / current liabilities.
Debt / assets	88.1%	Total debt / total assets.
Liabilities / assets	105.9%	Total liabilities / total assets.
Net debt	$2.97B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	2.84x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	5.99x	Operating income / interest expense.
Working capital	$399.9M	Current assets - current liabilities.
Goodwill and intangibles / assets	61.7%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$2.73B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.87x	Revenue / average total assets.
Fixed asset turnover	24.0x	Revenue / average property, plant and equipment.
Receivables turnover	12.6x	Revenue / average receivables.
Days sales outstanding	29 days	365 x average receivables / revenue.
Days payables	11 days	365 x average accounts payable / cost of revenue.
FCF conversion	161.3%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	5.5%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$2.86	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$14.16	Revenue / diluted weighted shares.
FCF per share	$4.61	Free cash flow / diluted weighted shares.
Operating cash flow per share	$4.87	Cash from operations / diluted weighted shares.
Book value per share	-$1.03	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$11.85	Tangible book value / shares outstanding.
Cash per share	$2.54	(Cash + short-term investments) / shares outstanding.
Payout ratio	25.7%	Dividends paid / net income, when net income is positive.
Dividends / FCF	16.0%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	53.8%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$9.31B	Share price x shares outstanding.
Enterprise value	$12.28B	Market cap + total debt - cash - short-term investments.
P/E	13.2x	Market cap / net income. Only when net income is positive.
P/S	2.65x	Market cap / revenue.
P/FCF	8.15x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	7.71x	Market cap / cash from operations, when positive.
EV/Sales	3.50x	Enterprise value / revenue.
EV/EBIT	12.4x	Enterprise value / operating income, when both are positive.
EV/EBITDA	11.8x	Enterprise value / EBITDA, when both are positive.
EV/FCF	10.8x	Enterprise value / free cash flow, when both are positive.
FCF yield	12.3%	Free cash flow / market cap.
Earnings yield	7.6%	Net income / market cap (the inverse of P/E).
Dividend yield	2.0%	Dividends paid over the period / market cap.
Shareholder yield	8.6%	(Dividends paid + share buybacks) / market cap.
PEG	0.54x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was Match Group, Inc.'s revenue in fiscal 2025?

Match Group, Inc. reported revenue of $3.49B for fiscal 2025, 0.2% higher than the year before.

Was Match Group, Inc. profitable in fiscal 2025?

Yes. Net income was $613.4M, a net margin of 17.6%.

How much free cash flow did Match Group, Inc. generate in fiscal 2025?

Cash from operations of $1.08B minus capital expenditures of $56.8M left free cash flow of $1.02B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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