TKO Group Holdings, Inc. — Form 8-K
Filed November 4, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 62/100
What the filing says
TKO reported Q3 2026 revenue of $1.360B (+21% YoY) and Adjusted EBITDA of $555.7M (+54% YoY). The company raised full-year 2026 guidance to $5.790–$5.830B revenue and $2.295–$2.315B Adjusted EBITDA (both increased from prior August guidance). UFC drove growth with revenue up $194M to $519.2M; IMG surged +16% to $391.3M; WWE essentially flat at $399.3M. YTD capital returns exceeded $1.6B via $1.124B repurchases (869k shares avg ~$189/share) and $150M dividend. TKO has $936M remaining under its $3B repurchase authorization and intends to continue buybacks funded by additional debt and cash on hand.
Why this rating
Solid operational upbeat (guidance raises, 54% EBITDA growth) and aggressive capital return (11.6% of $13.7B market cap YTD) are meaningful. However, elevated leverage (2.0x net debt/EBITDA), $4.6B debt, and continued buybacks amid rising interest costs ($69.9M Q3 interest) temper upside. Material but not transformational for this large-cap.
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