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TKO$TKO · filed: saw revenue fall 3.1% in FY2025 to $4.7BSound shipTrillion Score 582Fall Risk MediumNext year $3.5B–$10.0B sealedCheck ▾Close ▴
What TKO filed
Saw revenue fall 3.1% in FY2025 to $4.7 billion, operating margin 17.6% against a 1.6% median for amusement & recreation services, equity 24.1% of assets. Every figure links to the filing it came from on TKO’s card. Sound ship: one warning sign. Trillion Score 582, #2 of 12 in its field; Fall Risk Medium (how it is measured).
What the house said in advance
Revenue for the fiscal year after 2025-12-31 between $3.5B and $10.0B, an 80% range sealed on 26 Sept 2026 · receipt #076422 · graded in public by the revenue in TKO’s next annual report.
Figures as filed with the SEC. Ranges, scores and boats are statistical descriptions of past filings, not ratings or recommendations. Reporting, not advice.
In plain words
**$150M** TKO dividend signals sports-entertainment cash flow maturity; watch April Netflix subscriber attribution for revenue durability confirmation.
$150 million
dividend for Q2 2026
$1.04
per share
37% increase
over the
$109 million
paid in Q1 2026
TKO Group Holdings filed notice of a $150 million dividend for Q2 2026, payable to Class A common shareholders at approximately $1.04 per share. The payout represents the largest quarterly cash return since Endeavor merged WWE and UFC under the TKO structure in September 2023, when the combined entity began trading at an enterprise value near $21 billion.
The dividend timing follows TKO's pattern of quarterly distributions that began in late 2024, but the size marks a 37% increase over the $109 million paid in Q1 2026. The company has now returned roughly $410 million to Class A holders across four quarters, suggesting management sees sustainable cash generation from its dual-promotion model. WWE's media rights agreements with Netflix ($5 billion over ten years for Raw, effective January 2025) and NBC Universal (SmackDown through 2029) provide predictable revenue independent of live event volatility. UFC's pay-per-view model and ESPN+ partnership create margin expansion as production costs remain fixed against rising subscriber penetration.
The declaration occurs while private equity still controls the majority voting structure. Endeavor holds Class B shares with 10-to-1 voting power, meaning public float responds to capital allocation decisions but cannot influence them. The dividend strategy suggests Endeavor prefers cash extraction over reinvestment in acquisition or infrastructure, likely because both WWE and UFC already operate near-monopoly positions in their respective categories. Allocators should note that TKO's forward dividend yield now approaches 3.8% at current trading levels near $109 per share, unusual for a growth-narrative stock but consistent with mature cash-cow positioning.
Watch for Q2 2026 earnings guidance in mid-April, when management will clarify whether this payout level becomes the new baseline or represents a one-time surplus distribution. Netflix will report its first full quarter of Raw streaming data by then, providing the first hard subscriber attribution numbers. Also track whether Endeavor insiders increase their own Class A positions ahead of the ex-dividend date, typically two weeks before payment—insider buying at these levels would confirm long-term cash flow confidence rather than short-term liquidity management.
TKO's ability to sustain $600 million annualized dividends while maintaining content investment suggests the Netflix deal economics are working exactly as modeled, with subscriber acquisition costs borne by the platform rather than the content owner.
Branded by POPS4 · proof in 60 seconds
For the principal
Dividend yield approaching 4% on monopoly assets rarely lasts—consider accumulation if Netflix data confirms subscriber thesis in April.
For the operator
Track insider Form 4 filings through ex-dividend date; Endeavor buying at these levels confirms structural cash generation, not balance-sheet cleanup.
For the house
Huang Goodman adding 2,200 shares across three accounts; Netflix Raw data mid-April determines whether we scale to full 5% position weight.
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