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Side-by-side financial comparison of Netflix (NFLX) and TKO Group Holdings (TKO), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.
Netflix is the larger business by last-quarter revenue ($12.1B vs $1.0B, roughly 11.6× TKO Group Holdings). Netflix runs the higher net margin — 20.1% vs -0.2%, a 20.3% gap on every dollar of revenue. On growth, TKO Group Holdings posted the faster year-over-year revenue change (61.6% vs 17.6%). Over the past eight quarters, TKO Group Holdings's revenue compounded faster (28.4% CAGR vs 13.4%).
Netflix is an American subscription video on-demand over-the-top streaming service. The service primarily distributes original and acquired films and television shows from various genres. It is available internationally in multiple languages.
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).
NFLX vs TKO — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $12.1B | $1.0B |
| Net Profit | $2.4B | $-2.4M |
| Gross Margin | 45.9% | — |
| Operating Margin | 24.5% | 5.5% |
| Net Margin | 20.1% | -0.2% |
| Revenue YoY | 17.6% | 61.6% |
| Net Profit YoY | 29.4% | -107.7% |
| EPS (diluted) | $-17.14 | $-0.07 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.
| Q4 25 | $12.1B | $1.0B | ||
| Q3 25 | $11.5B | $1.1B | ||
| Q2 25 | $11.1B | $1.3B | ||
| Q1 25 | $10.5B | $1.3B | ||
| Q4 24 | $10.2B | $642.2M | ||
| Q3 24 | $9.8B | $681.3M | ||
| Q2 24 | $9.6B | $851.2M | ||
| Q1 24 | $9.4B | $629.7M |
| Q4 25 | $2.4B | $-2.4M | ||
| Q3 25 | $2.5B | $41.0M | ||
| Q2 25 | $3.1B | $98.4M | ||
| Q1 25 | $2.9B | $58.4M | ||
| Q4 24 | $1.9B | $31.0M | ||
| Q3 24 | $2.4B | $23.1M | ||
| Q2 24 | $2.1B | $59.1M | ||
| Q1 24 | $2.3B | $-103.8M |
| Q4 25 | 45.9% | — | ||
| Q3 25 | 46.4% | — | ||
| Q2 25 | 51.9% | — | ||
| Q1 25 | 50.1% | — | ||
| Q4 24 | 43.7% | — | ||
| Q3 24 | 47.9% | — | ||
| Q2 24 | 45.9% | — | ||
| Q1 24 | 46.9% | — |
| Q4 25 | 24.5% | 5.5% | ||
| Q3 25 | 28.2% | 15.4% | ||
| Q2 25 | 34.1% | 28.1% | ||
| Q1 25 | 31.7% | 18.7% | ||
| Q4 24 | 22.2% | 15.9% | ||
| Q3 24 | 29.6% | 20.0% | ||
| Q2 24 | 27.2% | 30.0% | ||
| Q1 24 | 28.1% | -33.4% |
| Q4 25 | 20.1% | -0.2% | ||
| Q3 25 | 22.1% | 3.7% | ||
| Q2 25 | 28.2% | 7.5% | ||
| Q1 25 | 27.4% | 4.6% | ||
| Q4 24 | 18.2% | 4.8% | ||
| Q3 24 | 24.1% | 3.4% | ||
| Q2 24 | 22.5% | 6.9% | ||
| Q1 24 | 24.9% | -16.5% |
| Q4 25 | $-17.14 | $-0.07 | ||
| Q3 25 | $5.87 | $0.47 | ||
| Q2 25 | $7.19 | $1.17 | ||
| Q1 25 | $6.61 | $0.69 | ||
| Q4 24 | $4.27 | $0.28 | ||
| Q3 24 | $5.40 | $0.28 | ||
| Q2 24 | $4.88 | $0.72 | ||
| Q1 24 | $5.28 | $-1.26 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $9.1B | $831.1M |
| Total DebtLower is stronger | — | $3.8B |
| Stockholders' EquityBook value | $26.6B | $3.7B |
| Total Assets | $55.6B | $15.5B |
| Debt / EquityLower = less leverage | — | 1.01× |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $9.1B | $831.1M | ||
| Q3 25 | $9.3B | $861.4M | ||
| Q2 25 | $8.4B | $535.1M | ||
| Q1 25 | $8.4B | $470.9M | ||
| Q4 24 | $9.6B | $525.6M | ||
| Q3 24 | $9.2B | $457.4M | ||
| Q2 24 | $6.7B | $277.5M | ||
| Q1 24 | $7.0B | $245.8M |
| Q4 25 | — | $3.8B | ||
| Q3 25 | — | $3.7B | ||
| Q2 25 | — | $2.7B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | — | $2.8B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $2.7B | ||
| Q1 24 | — | $2.7B |
| Q4 25 | $26.6B | $3.7B | ||
| Q3 25 | $26.0B | $3.8B | ||
| Q2 25 | $25.0B | $4.3B | ||
| Q1 25 | $24.0B | $4.2B | ||
| Q4 24 | $24.7B | $4.1B | ||
| Q3 24 | $22.7B | $4.0B | ||
| Q2 24 | $22.1B | $4.0B | ||
| Q1 24 | $21.4B | $4.0B |
| Q4 25 | $55.6B | $15.5B | ||
| Q3 25 | $54.9B | $15.5B | ||
| Q2 25 | $53.1B | $15.3B | ||
| Q1 25 | $52.1B | $15.0B | ||
| Q4 24 | $53.6B | $12.7B | ||
| Q3 24 | $52.3B | $12.8B | ||
| Q2 24 | $49.1B | $12.7B | ||
| Q1 24 | $48.8B | $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. Net income can be massaged; cash flow is harder to fake.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $2.1B | $309.9M |
| Free Cash FlowOCF − Capex | $1.9B | — |
| FCF MarginFCF / Revenue | 15.5% | — |
| Capex IntensityCapex / Revenue; lower = less reinvestment burden | 2.0% | — |
| Cash ConversionOCF / Net Profit; >1× = earnings back up with cash | 0.87× | — |
| TTM Free Cash FlowTrailing 4 quarters | $9.5B | — |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $2.1B | $309.9M | ||
| Q3 25 | $2.8B | $416.8M | ||
| Q2 25 | $2.4B | $396.2M | ||
| Q1 25 | $2.8B | $162.8M | ||
| Q4 24 | $1.5B | $56.8M | ||
| Q3 24 | $2.3B | $236.5M | ||
| Q2 24 | $1.3B | $230.7M | ||
| Q1 24 | $2.2B | $59.3M |
| Q4 25 | $1.9B | — | ||
| Q3 25 | $2.7B | — | ||
| Q2 25 | $2.3B | — | ||
| Q1 25 | $2.7B | — | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $2.2B | — | ||
| Q2 24 | $1.2B | — | ||
| Q1 24 | $2.1B | — |
| Q4 25 | 15.5% | — | ||
| Q3 25 | 23.1% | — | ||
| Q2 25 | 20.5% | — | ||
| Q1 25 | 25.2% | — | ||
| Q4 24 | 13.5% | — | ||
| Q3 24 | 22.3% | — | ||
| Q2 24 | 12.7% | — | ||
| Q1 24 | 22.8% | — |
| Q4 25 | 2.0% | — | ||
| Q3 25 | 1.4% | — | ||
| Q2 25 | 1.4% | — | ||
| Q1 25 | 1.2% | — | ||
| Q4 24 | 1.5% | — | ||
| Q3 24 | 1.3% | — | ||
| Q2 24 | 0.8% | — | ||
| Q1 24 | 0.8% | — |
| Q4 25 | 0.87× | — | ||
| Q3 25 | 1.11× | 10.16× | ||
| Q2 25 | 0.78× | 4.03× | ||
| Q1 25 | 0.97× | 2.79× | ||
| Q4 24 | 0.82× | 1.83× | ||
| Q3 24 | 0.98× | 10.22× | ||
| Q2 24 | 0.60× | 3.90× | ||
| Q1 24 | 0.95× | — |
Financial Flow Comparison
Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.
Revenue Breakdown by Segment
NFLX
Segment breakdown not available.
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% |
