TKO Group vs Warner Music Group
Warner Music Group is the larger business, with $6.71bn of revenue in fiscal 2025 against $4.74bn for TKO Group (1.4 times as much). Warner Music Group grew faster (4.4% against -3.1%). Warner Music Group kept more of each dollar of sales as profit: a net margin of 5.4% against 4.1%. TKO Group carries less debt relative to equity (101.2% against 674.7%).
| Latest fiscal year | TKO GroupTKO, 2025 | Warner Music GroupWMG, 2025 |
|---|---|---|
| Revenue | $4.74bn | $6.71bn |
| Revenue growth | -3.1% | 4.4% |
| Net income | $195m | $365m |
| Operating margin | 17.6% | 10.3% |
| Net margin | 4.1% | 5.4% |
| Return on equity | 5.0% | 62.7% |
| Free cash flow | — | $539m |
| Cash | $831m | $532m |
| Total debt | $3.78bn | $4.37bn |
| Debt to equity | 101.2% | 674.7% |
| Dividend per share | — | — |
| Dividend yield | 1.7% | 8.7% |
| Share buybacks | $867m | $16.0m |
| Employees | 1,300 | — |
| Market value | $14.14bn | $4.59bn |
| Price vs our value range | Within our value range | Below our value range |
| Moat score | — | 52 (Moderate) |
| Insider trades, 12 months | 8 buys, 133 sales | 3 buys, 0 sales |