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Side-by-side financial comparison of TKO Group Holdings (TKO) and Toast, Inc. (TOST). Click either name above to swap in a different company.
Toast, Inc. is the larger business by last-quarter revenue ($1.6B vs $1.0B, roughly 1.6× TKO Group Holdings). Toast, Inc. runs the higher net margin — 6.2% vs -0.2%, a 6.4% gap on every dollar of revenue. On growth, TKO Group Holdings posted the faster year-over-year revenue change (61.6% vs 22.0%). Over the past eight quarters, TKO Group Holdings's revenue compounded faster (28.4% CAGR vs 23.3%).
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).
Toast, Inc. is an American cloud-based restaurant management software company based in Boston, Massachusetts. The company provides an all-in-one point of sale (POS) system built on the Android operating system.
TKO vs TOST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.0B | $1.6B |
| Net Profit | $-2.4M | $101.0M |
| Gross Margin | — | 25.9% |
| Operating Margin | 5.5% | 5.2% |
| Net Margin | -0.2% | 6.2% |
| Revenue YoY | 61.6% | 22.0% |
| Net Profit YoY | -107.7% | 215.6% |
| EPS (diluted) | $-0.07 | $0.18 |
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 | $1.0B | $1.6B | ||
| Q3 25 | $1.1B | $1.6B | ||
| Q2 25 | $1.3B | $1.6B | ||
| Q1 25 | $1.3B | $1.3B | ||
| Q4 24 | $642.2M | $1.3B | ||
| Q3 24 | $681.3M | $1.3B | ||
| Q2 24 | $851.2M | $1.2B | ||
| Q1 24 | $629.7M | $1.1B |
| Q4 25 | $-2.4M | $101.0M | ||
| Q3 25 | $41.0M | $105.0M | ||
| Q2 25 | $98.4M | $80.0M | ||
| Q1 25 | $58.4M | $56.0M | ||
| Q4 24 | $31.0M | $32.0M | ||
| Q3 24 | $23.1M | $56.0M | ||
| Q2 24 | $59.1M | $14.0M | ||
| Q1 24 | $-103.8M | $-83.0M |
| Q4 25 | — | 25.9% | ||
| Q3 25 | — | 26.5% | ||
| Q2 25 | — | 25.3% | ||
| Q1 25 | — | 25.9% | ||
| Q4 24 | — | 24.9% | ||
| Q3 24 | — | 24.7% | ||
| Q2 24 | — | 23.0% | ||
| Q1 24 | — | 23.2% |
| Q4 25 | 5.5% | 5.2% | ||
| Q3 25 | 15.4% | 5.1% | ||
| Q2 25 | 28.1% | 5.2% | ||
| Q1 25 | 18.7% | 3.2% | ||
| Q4 24 | 15.9% | 2.5% | ||
| Q3 24 | 20.0% | 2.6% | ||
| Q2 24 | 30.0% | 0.4% | ||
| Q1 24 | -33.4% | -5.2% |
| Q4 25 | -0.2% | 6.2% | ||
| Q3 25 | 3.7% | 6.4% | ||
| Q2 25 | 7.5% | 5.2% | ||
| Q1 25 | 4.6% | 4.2% | ||
| Q4 24 | 4.8% | 2.4% | ||
| Q3 24 | 3.4% | 4.3% | ||
| Q2 24 | 6.9% | 1.1% | ||
| Q1 24 | -16.5% | -7.7% |
| Q4 25 | $-0.07 | $0.18 | ||
| Q3 25 | $0.47 | $0.16 | ||
| Q2 25 | $1.17 | $0.13 | ||
| Q1 25 | $0.69 | $0.09 | ||
| Q4 24 | $0.28 | $0.09 | ||
| Q3 24 | $0.28 | $0.07 | ||
| Q2 24 | $0.72 | $0.02 | ||
| Q1 24 | $-1.26 | $-0.15 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $831.1M | $1.4B |
| Total DebtLower is stronger | $3.8B | — |
| Stockholders' EquityBook value | $3.7B | $2.1B |
| Total Assets | $15.5B | $3.1B |
| Debt / EquityLower = less leverage | 1.01× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $831.1M | $1.4B | ||
| Q3 25 | $861.4M | $1.4B | ||
| Q2 25 | $535.1M | $1.2B | ||
| Q1 25 | $470.9M | $1.0B | ||
| Q4 24 | $525.6M | $903.0M | ||
| Q3 24 | $457.4M | $761.0M | ||
| Q2 24 | $277.5M | $691.0M | ||
| Q1 24 | $245.8M | $578.0M |
| 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 | $3.7B | $2.1B | ||
| Q3 25 | $3.8B | $2.0B | ||
| Q2 25 | $4.3B | $1.8B | ||
| Q1 25 | $4.2B | $1.7B | ||
| Q4 24 | $4.1B | $1.5B | ||
| Q3 24 | $4.0B | $1.4B | ||
| Q2 24 | $4.0B | $1.3B | ||
| Q1 24 | $4.0B | $1.2B |
| Q4 25 | $15.5B | $3.1B | ||
| Q3 25 | $15.5B | $3.0B | ||
| Q2 25 | $15.3B | $2.8B | ||
| Q1 25 | $15.0B | $2.6B | ||
| Q4 24 | $12.7B | $2.4B | ||
| Q3 24 | $12.8B | $2.2B | ||
| Q2 24 | $12.7B | $2.2B | ||
| Q1 24 | $12.7B | $2.1B |
| 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 | $309.9M | $194.0M |
| Free Cash FlowOCF − Capex | — | $178.0M |
| FCF MarginFCF / Revenue | — | 10.9% |
| Capex IntensityCapex / Revenue | — | 1.0% |
| Cash ConversionOCF / Net Profit | — | 1.92× |
| TTM Free Cash FlowTrailing 4 quarters | — | $608.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $309.9M | $194.0M | ||
| Q3 25 | $416.8M | $165.0M | ||
| Q2 25 | $396.2M | $223.0M | ||
| Q1 25 | $162.8M | $79.0M | ||
| Q4 24 | $56.8M | $147.0M | ||
| Q3 24 | $236.5M | $109.0M | ||
| Q2 24 | $230.7M | $124.0M | ||
| Q1 24 | $59.3M | $-20.0M |
| Q4 25 | — | $178.0M | ||
| Q3 25 | — | $153.0M | ||
| Q2 25 | — | $208.0M | ||
| Q1 25 | — | $69.0M | ||
| Q4 24 | — | $134.0M | ||
| Q3 24 | — | $97.0M | ||
| Q2 24 | — | $108.0M | ||
| Q1 24 | — | $-33.0M |
| Q4 25 | — | 10.9% | ||
| Q3 25 | — | 9.4% | ||
| Q2 25 | — | 13.4% | ||
| Q1 25 | — | 5.2% | ||
| Q4 24 | — | 10.0% | ||
| Q3 24 | — | 7.4% | ||
| Q2 24 | — | 8.7% | ||
| Q1 24 | — | -3.1% |
| Q4 25 | — | 1.0% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | 1.0% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | — | 1.0% | ||
| Q3 24 | — | 0.9% | ||
| Q2 24 | — | 1.3% | ||
| Q1 24 | — | 1.2% |
| Q4 25 | — | 1.92× | ||
| Q3 25 | 10.16× | 1.57× | ||
| Q2 25 | 4.03× | 2.79× | ||
| Q1 25 | 2.79× | 1.41× | ||
| Q4 24 | 1.83× | 4.59× | ||
| Q3 24 | 10.22× | 1.95× | ||
| Q2 24 | 3.90× | 8.86× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
TOST
| Technology Service | $1.3B | 82% |
| License | $256.0M | 16% |
| Product And Professional Services | $43.0M | 3% |
