Watch on earnings:Adjusted OIBDA (Operating Income Before Depreciation and Amortization) and margin expansion trajectoryMedia segment revenue growth and renewal rate escalation percentagesUFC PPV buy rates and average revenue per eventLive event attendance figures and average ticket price (ATP)Sponsorship revenue growth and new blue-chip partner additionsFree cash flow conversion rate (currently 85%+ of adjusted OIBDA)
Key metrics:UFC pay-per-view buy rates for marquee events (target 800K+ buys for top-tier cards) · Media rights renewal rate escalation percentages (historical 5-7% annual increases) · Live event attendance trends and average ticket price (ATP) vs. pre-COVID baseline of $150-200 · Adjusted OIBDA margin progression toward 35%+ target as synergies realize
⚠ Elevated leverage at 3.5x net debt/EBITDA post-merger creates refinancing risk if EBITDA growth stalls or interest rates spike above 6%—company targets deleveraging to 3.0x within 18-24 months
Metric
Dec 21
Dec 22
Dec 23
Dec 24
Dec 25
Cash & Equivalents
875
181↓79.4%
236↑30.6%
526↑122.8%
831↑58.1%
Total Current Assets
948
268↓71.7%
492↑83.5%
870↑76.6%
2,329↑167.8%
Total Assets
4,296
3,581↓16.7%
12,691↑254.4%
12,700↑0.1%
15,496↑22.0%
Total Current Liabilities
187
230↑22.9%
472↑105.1%
671↑42.0%
1,847↑175.4%
Total Liabilities
3,038
3,002↓1.2%
3,840↑27.9%
3,981↑3.7%
6,246↑56.9%
Total Equity
1,249
569↓54.4%
4,109↑622.2%
4,091↓0.4%
3,737↓8.6%
Total Debt
2,852
2,783↓2.4%
3,027↑8.7%
3,035↑0.3%
4,063↑33.9%
Net Debt
1,977
2,603↑31.6%
2,791↑7.2%
2,510↓10.1%
3,232↑28.8%
Cash Flow Statement
Metric
Dec 21
Dec 22
Dec 23
Dec 24
Dec 25
Operating Cash Flow
179
502↑180.9%
468↓6.6%
583↑24.6%
1,286↑120.4%
Capital Expenditure
-39
-12↑68.4%
-49↓292.1%
-75↓54.1%
-127↓69.4%
Free Cash Flow
139
489↑251.1%
420↓14.2%
508↑21.1%
1,159↑127.9%
Stock-Based Comp
0
24
57↑140.5%
95↑65.7%
0
Net Change in Cash
-327
-694↓112.1%
55↑108.0%
290↑424.2%
508↑75.3%
Values in millions except EPS · Ratios shown as percentages · Click any metric to drill down