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Match Group cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$305M in Q3 2026 · $1.1B over twelve months

Operating cash flow$322M
Capital spending−$17.0M
Free cash flow+$305M
Cash / net income1.8×
Cash conversion cycle17 days

Analysis

In Q3 2026, Match Group generated $322M of operating cash flow and spent $17.0M on capital projects, leaving free cash flow of $305M. That is $1.6M less than in Q3 2025 ($307M).

Over the twelve months to Sep 30, 2026, operating cash flow was $1.2B; the largest uses were buybacks ($574M), other financing ($497M), dividends ($182M); the cash balance fell by $327M.

Operating cash flow was $322M against net income of $174M — 1.8× profit, cash ran ahead of reported earnings. The largest differences: stock-based pay +$56.8M, payables +$24.2M, income taxes payable +$19.3M.

Its cash conversion cycle was 17 days (receivables 29 + inventory 0 − payables 12).

Free cash flow

Match Group: free cash flow by quarterMatch Group: free cash flow by quarter$247MQ4 2024$178MQ1 2025$231MQ2 2025$307MQ3 2025$308MQ4 2025$174MQ1 2026$353MQ2 2026$305MQ3 2026
Operating cash flow less capital spending.
Match Group: operating cash flow against capital spendingMatch Group: operating cash flow against capital spendingOperating cash flowCapital spending$255M$7.6MQ4 2024$193M$15.4MQ1 2025$244M$12.9MQ2 2025$321M$13.8MQ3 2025$323M$14.7MQ4 2025$194M$20.4MQ1 2026$370M$17.3MQ2 2026$322M$17.0MQ3 2026
Latest (Q3 2026): Operating cash flow $322M, Capital spending $17.0M.

Capital allocation, year by year

Match Group: where the cash came from (up) and went (down), by fiscal yearMatch Group: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $912MFY2021: Net borrowing $500MFY2021: Shares issued $58.4MFY2021: Capital spending −$80.0MFY2021: Acquisitions −$860M$1.5BFY2021FY2022: Operating cash flow $526MFY2022: Shares issued $20.5MFY2022: Capital spending −$49.1MFY2022: Acquisitions −$25.7MFY2022: Buybacks −$482M$546MFY2022FY2023: Operating cash flow $897MFY2023: Shares issued $13.0MFY2023: Capital spending −$67.4MFY2023: Acquisitions −$11.6MFY2023: Buybacks −$546M$910MFY2023FY2024: Operating cash flow $933MFY2024: Shares issued $6.5MFY2024: Capital spending −$50.6MFY2024: Buybacks −$753M$939MFY2024FY2025: Operating cash flow $1.1BFY2025: Net borrowing $275MFY2025: Shares issued $400KFY2025: Capital spending −$56.8MFY2025: Buybacks −$789MFY2025: Dividends −$186M$1.4BFY2025
Over these 5 years operating cash flow totalled $4.3B; the largest uses were buybacks ($2.6B) and acquisitions ($897M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$729M
Debt$3.6B
Net debt$2.8B
Due within a year$424M

Match Group funds itself: free cash flow was $1.1B over the last twelve months, and $729M of cash and investments stands against $3.6B of debt ($424M due within a year, 1.7× covered by cash).

Match Group: debt maturities by year (FY2025)Match Group: debt maturities by year (FY2025)$424MYear 1$450MYear 2$500MYear 3$350MYear 4$1.1BYear 5
Principal due in each year as disclosed in the annual report, against $729M of cash and investments now.

Where the cash came from and went

Match Group: sources (+) and uses (−) of cash, Q3 2026Match Group: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$322MCash drawn (+) / kept (−)−$146MBuybacks−$90.1MDividends−$46.0MTaxes on employees’ shares−$25.7MCapital spending−$17.0MExchange rates$1.3MOther investing$819K
Match Group: sources (+) and uses (−) of cash, TTM to Q3 2026Match Group: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$1.2BBuybacks−$574MOther financing−$497MCash drawn (+) / kept (−)$327MDividends−$182MTaxes on employees’ shares−$131MOther investing−$75.5MCapital spending−$69.3MExchange rates−$6.2MPartners−$232K

From profit to cash

Match Group: net income to operating cash flow, Q3 2026Match Group: net income to operating cash flow, Q3 2026Net income$174MDepreciation & amortization$14.6MStock-based pay$56.8MDeferred taxes$16.2MReceivables$1.7MPayables$24.2MDeferred revenue−$1.2MPrepaid and other assets$2.9MIncome taxes payable$19.3MOperating cash flow$322M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202629—1217
Q2 202631—823
Q1 202631—427
Q4 202534—727
Q3 202535—826
Q2 202535—530
Q1 202535—530
Q4 202436—927

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$322M−$17.0M−$90.1M−$46.0M——−$146M$305M
Q2 2026$370M−$17.3M−$185M−$46.7M—$3.2M$440M$353M
Q1 2026$194M−$20.4M−$60.1M−$44.2M——$7.7M$174M
Q4 2025$323M−$14.7M−$239M−$45.4M—$3.1M$25.4M$308M
Q3 2025$321M−$13.8M−$130M−$45.9M——−$718M$307M
Q2 2025$244M−$12.9M−$231M−$47.2M—$3.2M$74.2M$231M
Q1 2025$193M−$15.4M−$189M−$47.8M−$425M$378K$557M$178M
Q4 2024$255M−$7.6M−$122M——$4.2M−$110M$247M

Match Group: income statement and cash flow

Match Group, Q3 2026: revenue $891M (-2% year over year), operating margin 30.1%. The chart follows the revenue to costs, profit and cash.

Match Group: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.