TKO vs WMG
TKO Group Holdings, Inc. and Warner Music Group Corp., side by side — 5 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | TKO | WMG |
|---|---|---|
| Revenue | $4.7B | $6.7B |
| Net income | $195.4M | $365.0M |
| Gross margin | · | 45.8% |
| Net margin | 11.5% | 5.4% |
| Return on equity | 5.0% | 62.7% |
| Diluted EPS | $2.26 | · |
| Dividend / share | · | $0.73 |
| Payout ratio | 94.8% | 104.9% |
| Free cash flow | · | $539.0M |
| Equity | $3.7B | $647.0M |
| Net debt / equity | 0.78× | 5.46× |
| Current ratio | 1.26× | 0.66× |
| Revenue CAGR 5y | · | 8.5% |
| Profit CAGR 5y | · | · |
WMG bills 1.4× the revenue of TKO, and TKO keeps more of each dollar of revenue as profit (11.5% against 5.4%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
5 years side by side
| Fiscal year | TKO | WMG |
|---|---|---|
| FY2025 | $4.7B | $6.7B |
| FY2024 | $4.9B | $6.4B |
| FY2023 | $3.2B | $6.0B |
| FY2022 | $1.1B | $5.9B |
| FY2021 | $1.0B | $5.3B |
Bottom line
| Fiscal year | TKO | WMG |
|---|---|---|
| FY2025 | $195.4M | $365.0M |
| FY2024 | $9.4M | $435.0M |
| FY2023 | $-35.2M | $430.0M |
| FY2022 | $389.0M | $551.0M |
| FY2021 | $273.6M | $304.0M |
5 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$1,971,849,000 | WMG |
| FY2024 | −$1,541,759,000 | WMG |
| FY2023 | −$2,812,204,000 | WMG |
| FY2022 | −$4,778,853,000 | WMG |
| FY2021 | −$4,269,056,000 | WMG |
WMG has reported the higher revenue in every one of these 5 fiscal years. The gap has narrowed since the earliest year compared.
5 of 15 comparable fiscal years — a year missing data on either side is not counted.
5 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +6.1 pp | TKO |
| FY2024 | −11.8 pp | WMG |
| FY2023 | −2.7 pp | WMG |
| FY2022 | +24.8 pp | TKO |
| FY2021 | +20.8 pp | TKO |
The higher net margin has changed hands between TKO and WMG over this period.
5 of 15 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
TKO's net margin has been more volatile than WMG's over the 5 comparable fiscal years — 14.3 percentage points of standard deviation against 1.4.
5 of 15 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between TKO and WMG over these 5 fiscal years — TKO led in 3 and WMG in 2.
5 of 15 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
WMG's return on equity has been more volatile than TKO's over the 3 comparable fiscal years — 51.7 percentage points of standard deviation against 2.7.
3 of 10 comparable fiscal years — a year missing data on either side is not counted.
Year by year
WMG led in return on equity in every one of the 3 comparable fiscal years — a structural lead, not a recent swing.
3 of 10 comparable fiscal years — a year missing data on either side is not counted.