Match Group, Inc.

MTCH · Technology · $9.1B mkt cap · FY2025 filings · Narrow moat

On the watchlist

Narrow moat

The four filters

Pricing power99

Median gross margin 73.1% over 10y, very stable.

Returns on capital93

Median ROIC 19.9%, above the 9% hurdle in 80% of years.

Balance-sheet safety18

Net debt/EBITDA 3.4x, interest coverage 6x.

Capital discipline64

Owner earnings trend unclear, share count shrinking (buybacks).

Margin of safety

Above valueOn sale

Around fair value

Owner earnings (normalized): $500.7M
Est. intrinsic value / share: $38.76
Recent price: $39.24
Discount to value: Around fair value

Conservative model: 9% discount rate, 4% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

Moat Score history

Score history begins 2026-07-17. Check back as the record builds.

Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell MTCH. See the disclaimer.