Match Group Inc.
MTCH Communication Services Internet Content & Information
Match Group Inc.’s revenue for fiscal 2025 (year ended December 2025) was $3.5 billion, roughly unchanged from fiscal 2024. In the quarter to June 2026, revenue fell 1.23%, EPS grew 43.1%, free cash flow grew 52.6% and total debt rose 3.59%, each against the same quarter a year earlier. Revenue growth for five consecutive years, operating cash flow growth for three; insiders bought in the last twelve months.
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Match Group Inc. (MTCH) Beneish M-score
Match Group Inc.'s Beneish M-score for fiscal 2025 is −3.04; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2025 | −3.04 | (0.19) |
| FY2024 | −2.86 | (0.69) |
| FY2023 | −2.16 | 0.53 |
| FY2022 | −2.69 | (0.12) |
| FY2021 | −2.57 | 0.67 |
| FY2020 | −3.24 | (0.19) |
| FY2019 | −3.05 | (1.02) |
| FY2018 | −2.03 | 0.03 |
| FY2017 | −2.06 | 0.95 |
| FY2016 | −3.01 | (0.18) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.93 | — | 0.86 | |
| Gross margin index | 0.98 | — | 0.52 | |
| Asset quality index | 1.00 | — | 0.40 | |
| Sales growth index | 1.00 | — | 0.89 | |
| Depreciation index | 1.13 | — | 0.13 | |
| SG&A index | 1.04 | — | −0.18 | |
| Total accruals to total assets | (0.10) | — | −0.49 | |
| Leverage index | 1.04 | — | −0.34 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −3.04 | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| PINS Pinterest, Inc. compare | −3.5× |
| BILI Bilibili Inc. Sponsored ADR compare | −3.2× |
| SNAP Snap Inc. compare | −3.1× |
| MTCH Match Group Inc. | −3.0× |
| BZ KANZHUN LIMITED Sponsored ADR compare | −2.9× |
| Z Zillow Group, Inc. compare | −2.3× |
| ZG Zillow Group, Inc. compare | −2.3× |
| TME Tencent Music Entertainment Group Sponsored ADR compare | −2.2× |
| BIDU Baidu, Inc. compare | −2.0× |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI