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Side-by-side financial comparison of iHeartMedia, Inc. (IHRT) and TKO Group Holdings (TKO). Click either name above to swap in a different company.
iHeartMedia, Inc. is the larger business by last-quarter revenue ($1.1B vs $1.0B, roughly 1.1× TKO Group Holdings). TKO Group Holdings runs the higher net margin — -0.2% vs -3.7%, a 3.5% gap on every dollar of revenue. On growth, TKO Group Holdings posted the faster year-over-year revenue change (61.6% vs 0.8%). Over the past eight quarters, TKO Group Holdings's revenue compounded faster (28.4% CAGR vs 18.8%).
iHeartMedia, Inc., or CC Media Holdings, Inc., is an American mass media corporation headquartered in San Antonio, Texas. It is the holding company of iHeartCommunications, Inc., formerly Clear Channel Communications, Inc., a company founded by Lowry Mays and Red McCombs in 1972, and later taken private by Bain Capital and Thomas H. Lee Partners in a leveraged buyout in 2008.
TKO Group Holdings, Inc. (TKO) is an American sports and sports entertainment company. Established on September 12, 2023, the public company was formed by a merger between Endeavor subsidiary Zuffa—the parent company of the Ultimate Fighting Championship (UFC), a mixed martial arts promotion—and the professional wrestling promotion World Wrestling Entertainment (WWE).
IHRT vs TKO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.1B | $1.0B |
| Net Profit | $-41.9M | $-2.4M |
| Gross Margin | — | — |
| Operating Margin | 7.6% | 5.5% |
| Net Margin | -3.7% | -0.2% |
| Revenue YoY | 0.8% | 61.6% |
| Net Profit YoY | -233.1% | -107.7% |
| EPS (diluted) | $-0.25 | $-0.07 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.1B | $1.0B | ||
| Q3 25 | $997.0M | $1.1B | ||
| Q2 25 | $933.7M | $1.3B | ||
| Q1 25 | $807.1M | $1.3B | ||
| Q4 24 | $1.1B | $642.2M | ||
| Q3 24 | $1.0B | $681.3M | ||
| Q2 24 | $929.1M | $851.2M | ||
| Q1 24 | $799.0M | $629.7M |
| Q4 25 | $-41.9M | $-2.4M | ||
| Q3 25 | $-66.3M | $41.0M | ||
| Q2 25 | $-83.5M | $98.4M | ||
| Q1 25 | $-281.2M | $58.4M | ||
| Q4 24 | $31.5M | $31.0M | ||
| Q3 24 | $-41.3M | $23.1M | ||
| Q2 24 | $-981.7M | $59.1M | ||
| Q1 24 | $-18.5M | $-103.8M |
| Q4 25 | 7.6% | 5.5% | ||
| Q3 25 | -11.7% | 15.4% | ||
| Q2 25 | 3.8% | 28.1% | ||
| Q1 25 | -3.2% | 18.7% | ||
| Q4 24 | 9.3% | 15.9% | ||
| Q3 24 | 7.6% | 20.0% | ||
| Q2 24 | -97.9% | 30.0% | ||
| Q1 24 | -4.3% | -33.4% |
| Q4 25 | -3.7% | -0.2% | ||
| Q3 25 | -6.6% | 3.7% | ||
| Q2 25 | -8.9% | 7.5% | ||
| Q1 25 | -34.8% | 4.6% | ||
| Q4 24 | 2.8% | 4.8% | ||
| Q3 24 | -4.1% | 3.4% | ||
| Q2 24 | -105.7% | 6.9% | ||
| Q1 24 | -2.3% | -16.5% |
| Q4 25 | $-0.25 | $-0.07 | ||
| Q3 25 | $-0.43 | $0.47 | ||
| Q2 25 | $-0.54 | $1.17 | ||
| Q1 25 | $-1.84 | $0.69 | ||
| Q4 24 | $0.21 | $0.28 | ||
| Q3 24 | $-0.27 | $0.28 | ||
| Q2 24 | $-6.50 | $0.72 | ||
| Q1 24 | $-0.12 | $-1.26 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $270.9M | $831.1M |
| Total DebtLower is stronger | $5.1B | $3.8B |
| Stockholders' EquityBook value | $-1.8B | $3.7B |
| Total Assets | $5.1B | $15.5B |
| Debt / EquityLower = less leverage | — | 1.01× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $270.9M | $831.1M | ||
| Q3 25 | $192.2M | $861.4M | ||
| Q2 25 | $235.9M | $535.1M | ||
| Q1 25 | $167.7M | $470.9M | ||
| Q4 24 | $259.6M | $525.6M | ||
| Q3 24 | $431.8M | $457.4M | ||
| Q2 24 | $364.7M | $277.5M | ||
| Q1 24 | $361.4M | $245.8M |
| Q4 25 | $5.1B | $3.8B | ||
| Q3 25 | $5.1B | $3.7B | ||
| Q2 25 | $5.1B | $2.7B | ||
| Q1 25 | $5.1B | $2.8B | ||
| Q4 24 | $5.1B | $2.8B | ||
| Q3 24 | $5.2B | $2.7B | ||
| Q2 24 | $5.2B | $2.7B | ||
| Q1 24 | $5.1B | $2.7B |
| Q4 25 | $-1.8B | $3.7B | ||
| Q3 25 | $-1.8B | $3.8B | ||
| Q2 25 | $-1.7B | $4.3B | ||
| Q1 25 | $-1.6B | $4.2B | ||
| Q4 24 | $-1.4B | $4.1B | ||
| Q3 24 | $-1.4B | $4.0B | ||
| Q2 24 | $-1.4B | $4.0B | ||
| Q1 24 | $-398.6M | $4.0B |
| Q4 25 | $5.1B | $15.5B | ||
| Q3 25 | $5.1B | $15.5B | ||
| Q2 25 | $5.4B | $15.3B | ||
| Q1 25 | $5.3B | $15.0B | ||
| Q4 24 | $5.6B | $12.7B | ||
| Q3 24 | $5.8B | $12.8B | ||
| Q2 24 | $5.8B | $12.7B | ||
| Q1 24 | $6.8B | $12.7B |
| Q4 25 | — | 1.01× | ||
| Q3 25 | — | 0.98× | ||
| Q2 25 | — | 0.64× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.67× | ||
| Q3 24 | — | 0.67× | ||
| Q2 24 | — | 0.68× | ||
| Q1 24 | — | 0.68× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $156.3M | $309.9M |
| Free Cash FlowOCF − Capex | $137.6M | — |
| FCF MarginFCF / Revenue | 12.2% | — |
| Capex IntensityCapex / Revenue | 1.7% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $10.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $156.3M | $309.9M | ||
| Q3 25 | $-9.5M | $416.8M | ||
| Q2 25 | $6.8M | $396.2M | ||
| Q1 25 | $-60.9M | $162.8M | ||
| Q4 24 | $1.2M | $56.8M | ||
| Q3 24 | $102.8M | $236.5M | ||
| Q2 24 | $26.7M | $230.7M | ||
| Q1 24 | $-59.3M | $59.3M |
| Q4 25 | $137.6M | — | ||
| Q3 25 | $-32.8M | — | ||
| Q2 25 | $-13.2M | — | ||
| Q1 25 | $-80.7M | — | ||
| Q4 24 | $-24.2M | — | ||
| Q3 24 | $73.3M | — | ||
| Q2 24 | $5.6M | — | ||
| Q1 24 | $-80.9M | — |
| Q4 25 | 12.2% | — | ||
| Q3 25 | -3.3% | — | ||
| Q2 25 | -1.4% | — | ||
| Q1 25 | -10.0% | — | ||
| Q4 24 | -2.2% | — | ||
| Q3 24 | 7.3% | — | ||
| Q2 24 | 0.6% | — | ||
| Q1 24 | -10.1% | — |
| Q4 25 | 1.7% | — | ||
| Q3 25 | 2.3% | — | ||
| Q2 25 | 2.1% | — | ||
| Q1 25 | 2.4% | — | ||
| Q4 24 | 2.3% | — | ||
| Q3 24 | 2.9% | — | ||
| Q2 24 | 2.3% | — | ||
| Q1 24 | 2.7% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 10.16× | ||
| Q2 25 | — | 4.03× | ||
| Q1 25 | — | 2.79× | ||
| Q4 24 | 0.04× | 1.83× | ||
| Q3 24 | — | 10.22× | ||
| Q2 24 | — | 3.90× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IHRT
| Broadcast Radio | $469.9M | 42% |
| Digital Non Podcast | $212.9M | 19% |
| Tradeand Barter Transactions | $124.4M | 11% |
| Networks | $118.2M | 10% |
| Audio And Media Services Group Segment | $78.9M | 7% |
| Sponsorship And Events | $71.4M | 6% |
| Advertising Trade And Barter Transactions | $23.7M | 2% |
| Other | $22.7M | 2% |
TKO
| World Wrestling Entertainment Segment | $359.6M | 35% |
| IMG Segment | $247.6M | 24% |
| Media Rights Production And Content | $222.6M | 21% |
| Partnerships And Marketing | $93.3M | 9% |
| Live Events And Hospitality | $72.2M | 7% |
| Other | $29.4M | 3% |
| Consumer Products Licensing And Other | $13.2M | 1% |
