# Match Group Inc. (MTCH) — Financial Analysis

**Exchange:** NASDAQ  
**Coverage as of:** 2026-Q2  
**Updated:** 2026-05-18  
**Tier:** Free primer (step 2 of 19)  
**Sibling pages:** /stocks/MTCH/thesis · /stocks/MTCH/memo

## Financial Snapshot

---
ticker: MTCH
step: 04
generated: 2026-05-13
source: quick-research
---

### Match Group, Inc. (MTCH) — Financial Snapshot

#### Income Statement Summary

| Metric | FY2022 | FY2023 | FY2024 | YoY |
|--------|--------|--------|--------|-----|
| Revenue | $3.19B | $3.37B | $3.48B | +3.4% |
| Operating Margin | ~26% | ~26% | ~25% | |
| Net Income | ~$0.3B | ~$0.5B | ~$0.5B | ~flat |
| EPS (diluted) | ~$1.10 | ~$1.90 | ~$2.00 | +5% |

*FY2025: Revenue modest growth ~2–4%; Hinge +26% in Q4 2025 partially offsets Tinder -3%. Total payers 14.9M (-5% YoY); RPP $19.12 (+8% YoY). New CEO Spencer Rascoff took helm Feb 2025.*

#### Cash Flow & Balance Sheet (FY2024)

| Metric | Value |
|--------|-------|
| Operating Cash Flow | ~$1.0B |
| Free Cash Flow | $0.88B |
| Capital Expenditures | ~$0.1B |
| Cash & Equivalents | ~$0.8B |
| Total Debt | ~$3.8B |

*FCF is strong and growing: $477M (2022) → $829M (2023) → $882M (2024). Company committed to returning >100% of FCF through 2027 via buybacks and dividends — over 35% of market cap.*

#### Key Ratios (approximate)
- P/E: ~16x (adj. FY2024) | EV/EBITDA: ~9x | FCF Yield: ~11%
- Revenue Growth (TTM): ~3–4% | FCF Margin: ~25%

#### Growth Profile
Match Group is a high-FCF, slow-revenue-growth story. Revenue growth has decelerated from 20%+ (2020–2021 COVID dating app boom) to ~3–4% as Tinder payer count declines offset Hinge's rapid growth and RPP pricing power. FCF margins (~25%) are healthy for a software/media company. The stock has been a value trap for three years — cheap on FCF but weighed down by Tinder's structural decline narrative. The bull thesis requires Tinder stabilization + Hinge's $1B trajectory to re-accelerate top-line growth to 6–10%.

#### Forward Estimates
- FY2026/2027: Revenue growth dependent on Tinder stabilization; Hinge → $1B by 2027
- Analyst consensus PT: ~$36 (13 Hold / 7 Buy; TD Cowen $46 Buy, UBS $38 Neutral)
- Capital return: >100% of FCF via buybacks through 2027; ~35% of market cap in 3 years
- Hinge direct revenue: $550M (2024) → $700M+ (2025) → $1B (2027)
- Tinder payers: 8.6M (Q1 2026), down from peak 10.9M; stabilization needed for re-rating

## Deeper Financial Analysis

The fundamental tier ($1.00) adds 8 dimensions not included here:

- Revenue Breakdown — segment revenue, geographic mix, product-line margins
- Financial Trends — QoQ momentum, leading indicators, inflection points
- Balance Sheet — debt structure, dilution risk, working capital dynamics
- Capital Allocation — ROIC, buyback cadence, reinvestment efficiency
- Earnings Analysis — beats/misses, guidance vs actuals, transcript highlights
- Competitive Positioning — market share, pricing power, peer benchmarks
- Industry Context — TAM, sector tailwinds/headwinds, regulatory backdrop

**API endpoint:** GET /api/v1/research/MTCH/fundamental

## Navigation

- Overview: /stocks/MTCH
- Financials (this page): /stocks/MTCH/financials
- Thesis: /stocks/MTCH/thesis
- Investment Memo: /stocks/MTCH/memo
- Coverage universe: /stocks