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TKO Group Holdings cash flow, quarter by quarter

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

Free cash flow$472M in Q3 2026 · $1.9B over twelve months

Operating cash flow$472M
Free cash flow+$472M
Cash / net income1.7×

Analysis

In Q3 2026, TKO Group Holdings generated $472M of operating cash flow. That is $55.4M more than in Q3 2025 ($417M).

Over the twelve months to Sep 30, 2026, operating cash flow was $1.9B; the largest uses were buybacks ($1.2B), other financing ($755M), dividends ($236M); besides operations, cash came from net borrowing (+) / repaid (−) ($865M), acquisitions ($3.9M); the cash balance rose by $416M.

Operating cash flow was $472M against net income of $278M — 1.7× profit, cash ran ahead of reported earnings. The largest differences: payables −$149M, deferred revenue +$123M, depreciation & amortization +$93.0M.

Free cash flow

TKO Group Holdings: free cash flow by quarterTKO Group Holdings: free cash flow by quarter$56.1MQ4 2024$163MQ1 2025$396MQ2 2025$417MQ3 2025$310MQ4 2025$695MQ1 2026$374MQ2 2026$472MQ3 2026
Operating cash flow less capital spending.
TKO Group Holdings: operating cash flow against capital spendingTKO Group Holdings: operating cash flow against capital spendingOperating cash flowCapital spending$56.1M$0Q4 2024$163M$0Q1 2025$396M$0Q2 2025$417M$0Q3 2025$310M$0Q4 2025$695M$0Q1 2026$374M$0Q2 2026$472M$0Q3 2026
Latest (Q3 2026): Operating cash flow $472M, Capital spending $0.

Capital allocation, year by year

TKO Group Holdings: where the cash came from (up) and went (down), by fiscal yearTKO Group Holdings: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesAcquisitionsBuybacksDividendsFY2021: Operating cash flow $441MFY2021: Net borrowing $386MFY2021: Asset sales $150K$828MFY2021FY2022: Operating cash flow $395MFY2022: Net borrowing −$83.1MFY2022: Asset sales $15K$395MFY2022FY2023: Operating cash flow $266MFY2023: Net borrowing −$34.7MFY2023: Buybacks −$100M$266MFY2023FY2024: Operating cash flow $586MFY2024: Net borrowing −$5.1MFY2024: Asset sales $28.4MFY2024: Buybacks −$165M$614MFY2024FY2025: Operating cash flow $1.3BFY2025: Net borrowing $963MFY2025: Asset sales $5.8MFY2025: Acquisitions −$8.7MFY2025: Buybacks −$867MFY2025: Dividends −$185M$2.3BFY2025
Over these 5 years operating cash flow totalled $3.0B; the largest uses were buybacks ($1.1B) and dividends ($185M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$631M
Debt$4.6B
Net debt$4.0B
Due within a year$40.9M

TKO Group Holdings funds itself: free cash flow was $1.9B over the last twelve months, and $631M of cash and investments stands against $4.6B of debt ($40.9M due within a year, 15.4× covered by cash).

TKO Group Holdings: debt maturities by year (FY2025)TKO Group Holdings: debt maturities by year (FY2025)$40.9MYear 1$41.8MYear 2$65.6MYear 3$40.1MYear 4$40.1MYear 5$3.6BAfter year 5
Principal due in each year as disclosed in the annual report, against $631M of cash and investments now.

Where the cash came from and went

TKO Group Holdings: sources (+) and uses (−) of cash, Q3 2026TKO Group Holdings: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$472MOther financing−$182MBuybacks−$156MDividends−$57.7MCash drawn (+) / kept (−)−$37.6MOther investing−$18.2MNet borrowing (+) / repaid (−)−$18.2MExchange rates−$1.4MPartners−$624K
TKO Group Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026TKO Group Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$1.9BBuybacks−$1.2BNet borrowing (+) / repaid (−)$865MOther financing−$755MCash drawn (+) / kept (−)−$416MDividends−$236MOther investing−$143MAcquisitions$3.9MExchange rates−$2.9MPartners−$2.0MAsset & business sales$106K

From profit to cash

TKO Group Holdings: net income to operating cash flow, Q3 2026TKO Group Holdings: net income to operating cash flow, Q3 2026Net income$278MDepreciation & amortization$93.0MStock-based pay$39.6MOther non-cash$3.0MReceivables$68.9MPayables−$149MDeferred revenue$123MPrepaid and other assets$57.7MOther liabilities$10.5MOperating cash flow$472M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$472M−$156M−$57.7M−$18.2M−$37.6M$472M
Q2 2026$374M−$129M−$58.9M−$16.8M$174M$374M
Q1 2026$695M−$838M−$58.5M$883M−$540M$695M
Q4 2025$310M−$40.7M−$60.6M$17.3M−$12.7M$310M
Q3 2025$417M—−$62.4M−$32.5M−$315M$417M
Q2 2025$396M—−$31.1M−$9.8M−$229M$396M
Q1 2025$163M—−$31.1M−$11.0M$48.6M$163M
Q4 2024$56.1M——$40.8M−$90.9M$56.1M

TKO Group Holdings: income statement and cash flow

TKO Group Holdings, Q3 2026: revenue $1.4B (+22% year over year), operating margin 27.8%. The chart follows the revenue to costs, profit and cash.

TKO Group Holdings: 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.