Aureus
AExcellent

Match Group, Inc.(MTCH)

A

Financial data as of Dec 31, 2025Improving · Communication Services

FCF Margin21.9%Free Cash Flow / Revenue
Cash Conversion176.1%Operating CF / Net Income
Free Cash Flow$1.0B
Revenue$3.5B
Net Cash-$2.9BNet debt position
Debt / FCF5.2xElevated debt burden
Current Ratio1.42Adequate short-term liquidity
YoY FCF Growth+37.2%5 of 5 quarters positive

How This Grade Was Calculated

Base grade from FCF margin, adjusted by financial health factors

BaseA
→
-0.5Elevated debt-to-FCF ratio (5.2x)
→
+0.5Healthy FCF margin with manageable debt (21.9%, 5.2x)
→
+1Strong YoY FCF growth (37.2% YoY)
→
+0.5Highly consistent quarterly FCF
→
FinalA

Analysis Summary

Strengths

  • Exceptional FCF margin (21.9%)
  • Excellent cash conversion (176%)
  • Strong YoY FCF growth (+37.2%)
  • Highly consistent quarterly FCF

Concerns

  • Heavy debt position ($2.9B net debt, 5.2x FCF)
  • High debt-to-FCF ratio (5.2x)
SBC-adjusted FCF used — $0.3B stock-based compensation (25% of reported FCF) subtracted

Financial Breakdown

Key financials compared side by side

Margin Composition

FCF Margin21.9%
Net Margin17.6%
Operating CF Margin31.0%
CapEx Ratio1.6%

Balance Sheet Health

Debt, liquidity, and leverage snapshot

Net Cash-$2.9BNet debt position
Debt / FCF5.2xElevated debt burden
Current Ratio1.42Adequate liquidity
Debt / Equity0.00Low leverage

Quarterly FCF Trend

+37.2% YoYImproving (+37.2%)

Free cash flow per quarter

Sector Comparison — Communication Services

FCF Margin ranked against sector peers

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Detailed Metrics

Company NameMatch Group, Inc.
SectorCommunication Services
Free Cash Flow$1.0B
Revenue$3.5B
Net Income$613.4M
Operating Cash Flow$1.1B
Capital Expenditure$56.8M
FCF Margin21.9%
Cash Conversion Rate176.1%
Net Margin17.6%
Total Debt$4.0B
Total Cash$1.0B
Net Cash-$2.9B
Current Ratio1.42
Debt / Equity0.00
Debt / FCF5.2x
YoY FCF Growth+37.2%
Positive Quarters5 of 5
Trend DirectionImproving
Report DateDec 31, 2025
GradeA
Data SourceYahoo Finance

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