Match Group

As of June 30, 2025 Match held ~$340 million in cash and short‑term investments and $3.45 billion of debt (largely fixed rate), with an undrawn $500 million revolver and gross leverage of ~2.8x on adjusted operating income.

The business generated $882 million of free cash flow in 2024 and $409 million in H1 2025, indicative of robust coverage of interest, capex, and shareholder returns. Near‑term 2026 exchangeables are the main maturity to plan for, but overall liquidity is sound.