What are the investment strengths of Match Group Inc (MTCH)?

Generates 963M FCF annually with 28% margins on minimal capex (1.4% of revenue) - rare cash efficiency in tech P/E 15x and P/CF 8.8x both below industry medians (16x, 11.3x) despite superior profitability

What are the investment risks for Match Group Inc (MTCH)?

Negative equity (-224M) with 4B debt creates 18x debt/equity leverage - any revenue decline amplifies distress risk Goodwill 2.3B on negative equity base - impairment would deepen insolvency; 41M already impaired TTM

Match Group Inc

MTCH

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Match Group Inc AI Insights

Informational only. Not investment advice.

As of 2025-12-08

Snapshot

Negative equity (-224M) with 4B debt and goodwill of 2.3B (>10x equity magnitude) - balance sheet structurally impaired[Common Stockholders Equity]
FCF of 963M TTM (28% margin) on declining revenue supports 8.8x P/CF vs industry 11.3x - cash machine undervalued[Free Cash Flow TTM]
Operating margin 24.6% TTM vs industry median -2.4% - profitable in sector where most lose money[Operating Margin TTM]

Watch Triggers

Free Cash Flow TTM: Falls below 800M or margin below 23% — FCF is only path to equity repair; decline breaks deleveraging thesis
Goodwill: Impairment charge exceeds 200M in single quarter — Would signal management acknowledges asset overvaluation, deepening negative equity
Total Revenue TTM: Declines >5% YoY — High operating leverage means revenue decline accelerates margin compression

Bull Case

Generates 963M FCF annually with 28% margins on minimal capex (1.4% of revenue) - rare cash efficiency in tech

Free Cash Flow TTMCapital Expenditure TTM

P/E 15x and P/CF 8.8x both below industry medians (16x, 11.3x) despite superior profitability

PE RatioPCF Ratio

Bear Case

Negative equity (-224M) with 4B debt creates 18x debt/equity leverage - any revenue decline amplifies distress risk

Total DebtCommon Stockholders Equity

Goodwill 2.3B on negative equity base - impairment would deepen insolvency; 41M already impaired TTM

GoodwillAsset Impairment Charge TTM

Bull vs Bear Balance

AI-generated sentiment analysis based on fundamental metrics and market conditions.

45%

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Forward Thesis

FCF will fund debt reduction, improving equity position within 3 years

1-3ymed

963M annual FCF vs 144M interest expense = 6.7x coverage
Minimal capex (50M TTM) preserves cash for deleveraging
No dividend growth pressure (0.76/share stable)

FCF margin 28% TTM sustainableNet debt 3B vs 963M annual FCFInterest expense flat at 144M

Valuation Context

Caveats

Public Strategies Rankings

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MTCH Fundamentals

Information → Other Information Services

Metric	Value	YoY Growth	Industry Percentile
Market Cap	$8.16B		—
Enterprise Value	$11.15B		—
P/E Ratio	14		—
Total Revenue - TTM	$3.47B	-0.5%	—
Earnings Per Share (diluted) - TTM	$2.27	-8.5%	—
Operating Margin - TTM	24.6%	-2.3%	—
Net Margin - TTM	16.2%	-1.7%	—
Free Cash Flow - TTM	$962.64M	+7.7%	—
Return on Common Equity - TTM	0.00		—
Beta 5Y (Monthly)	unknown		—

MTCH Dividend History

5 dividends

2026

$0.1900

01/06/26$0.1900

2025

$0.7600

10/03/25$0.1900

07/03/25$0.1900

04/03/25$0.1900

01/06/25$0.1900

MTCH Stock Splits

1 stock split

07/01/201:2.1584 split

MTCH SEC Filings

Filing Date	Report Date	Report Type	Filing Link
11/05/25	09/30/25	10-Q	0000891103-25-000180
08/06/25	06/30/25	10-Q	0000891103-25-000124
05/08/25	03/31/25	10-Q	0000891103-25-000076
02/27/25	12/31/24	Unknown	0000891103-25-000027
11/12/24	09/30/24	10-Q	0000891103-24-000114
08/01/24	06/30/24	10-Q	0000891103-24-000095
05/08/24	03/31/24	10-Q	0000891103-24-000057
02/23/24	12/31/23	10-K	0000891103-24-000014
11/02/23	09/30/23	10-Q	0000891103-23-000114
08/03/23	06/30/23	10-Q	0000891103-23-000099
05/05/23	03/31/23	10-Q	0000891103-23-000047
02/24/23	12/31/22	10-K	0000891103-23-000013
11/04/22	09/30/22	10-Q	0000891103-22-000095
08/05/22	06/30/22	10-Q	0000891103-22-000082
05/06/22	03/31/22	10-Q	0000891103-22-000039
02/24/22	12/31/21	10-K	0000891103-22-000020
11/08/21	09/30/21	10-Q	0000891103-21-000090
08/06/21	06/30/21	10-Q	0000891103-21-000074
05/07/21	03/31/21	10-Q	0000891103-21-000027
02/25/21	12/31/20	10-K	0000891103-21-000014
11/06/20	09/30/20	10-Q	0000891103-20-000041
08/10/20	06/30/20	10-Q	0000891103-20-000022
05/08/20	03/31/20	10-Q	0000891103-20-000008
02/28/20	12/31/19	10-K	0000891103-20-000004
11/07/19	09/30/19	10-Q	0000891103-19-000020
08/09/19	06/30/19	10-Q	0000891103-19-000015
05/09/19	03/31/19	10-Q	0000891103-19-000009
03/01/19	12/31/18	10-K	0000891103-19-000006
11/09/18	09/30/18	10-Q	0000891103-18-000016
08/09/18	06/30/18	10-Q	0000891103-18-000013
05/10/18	03/31/18	10-Q	0000891103-18-000006
03/01/18	12/31/17	10-K	0000891103-18-000003
11/09/17	09/30/17	10-Q	0000891103-17-000022
08/04/17	06/30/17	10-Q	0000891103-17-000018
05/08/17	03/31/17	10-Q	0000891103-17-000007
02/28/17	12/31/16	10-K	0000891103-17-000003
11/09/16	09/30/16	10-Q	0000891103-16-000034
08/09/16	06/30/16	10-Q	0000891103-16-000031
05/10/16	03/31/16	10-Q	0000891103-16-000026
02/29/16	12/31/15	10-K	0000891103-16-000023
11/09/15	09/30/15	10-Q	0000891103-15-000016
07/31/15	06/30/15	10-Q	0000891103-15-000013
05/01/15	03/31/15	10-Q	0000891103-15-000007
02/27/15	12/31/14	10-K	0000891103-15-000004
11/03/14	09/30/14	10-Q	0000891103-14-000020
07/31/14	06/30/14	10-Q	0000891103-14-000017
05/02/14	03/31/14	10-Q	0000891103-14-000008
02/26/14	12/31/13	10-K	0000891103-14-000003
11/08/13	09/30/13	10-Q	0000891103-13-000020
08/08/13	06/30/13	10-Q	0000891103-13-000017
05/08/13	03/31/13	10-Q	0000891103-13-000010
03/01/13	12/31/12	10-K	0001445305-13-000404
11/08/12	09/30/12	10-Q	0001445305-12-003592
08/02/12	06/30/12	10-Q	0001047469-12-007663
05/09/12	03/31/12	10-Q	0001047469-12-005592
02/29/12	12/31/11	10-K	0001047469-12-001904
11/09/11	09/30/11	10-Q	0001047469-11-009304
08/05/11	06/30/11	10-Q	0001047469-11-006979
05/06/11	03/31/11	10-Q	0001047469-11-004675
03/01/11	12/31/10	10-K	0001047469-11-001622
02/01/12	09/30/10	10-Q/A	0001047469-12-000533
10/29/10	09/30/10	10-Q	0001047469-10-008981
07/29/10	06/30/10	10-Q	0001047469-10-006743
02/01/12	06/30/10	10-Q/A	0001047469-12-000532
02/01/12	03/31/10	10-Q/A	0001047469-12-000531
04/30/10	03/31/10	10-Q	0001047469-10-004566
02/26/10	12/31/09	10-K	0001047469-10-001538
10/29/09	09/30/09	10-Q	0001047469-09-009281
08/07/09	06/30/09	10-Q	0001047469-09-007368
05/07/09	03/31/09	10-Q	0001047469-09-005132
03/02/09	12/31/08	10-K	0001047469-09-002040
11/10/08	09/30/08	10-Q	0001047469-08-011911
08/06/08	06/30/08	10-Q	0001047469-08-008816
05/07/08	03/30/08	Unknown	--
02/29/08	12/31/07	10-K	0001047469-08-002034
11/09/07	09/30/07	10-Q	0001047469-07-008848
08/09/07	06/30/07	10-Q	0001104659-07-060769
05/10/07	03/30/07	Unknown	--
03/01/07	12/31/06	10-K	0001047469-07-001535
11/07/06	09/30/06	10-Q	0001047469-06-013654
08/09/06	06/30/06	10-Q	0001047469-06-010653
05/10/06	03/30/06	Unknown	--
03/13/06	12/31/05	10-K	0001047469-06-003277
11/09/05	09/30/05	4	0001179110-05-019245
08/08/05	06/30/05	10-Q	0001047469-05-021015
05/10/05	03/31/05	8-K	0000898822-05-000207
03/16/05	12/31/04	10-K	0001047469-05-006738
11/09/04	09/30/04	10-Q	0001104659-04-034720
08/09/04	06/30/04	10-Q	0001047469-04-025839
05/10/04	03/30/04	Unknown	--
03/15/04	12/31/03	10-K	0001047469-04-008077
11/14/03	09/30/03	4	0001179110-03-008315
08/12/03	06/30/03	10-Q	0001047469-03-027252
05/15/03	03/30/03	Unknown	--
03/31/03	12/31/02	10-K	0001047469-03-011015
11/14/02	09/30/02	10-Q	0000912057-02-042572
08/14/02	06/30/02	10-Q	0000912057-02-032336
05/15/02	03/30/02	Unknown	--
04/01/02	12/31/01	10-K405	0000912057-02-013035
11/14/01	09/30/01	10-Q	0000912057-01-539858
08/14/01	06/30/01	10-Q	0000912057-01-528762
05/15/01	03/30/01	Unknown	--
04/02/01	12/31/00	10-K405	0000912057-01-506303
11/14/00	09/30/00	10-Q	0000912057-00-050203
08/14/00	06/30/00	10-Q	0000912057-00-037590
05/15/00	03/30/00	Unknown	--