Endeavor Group Holdings, Inc. Stock Research

Market Summary

USD23.50+0.35

Delayedas of 31 Mar 2023, 12:32 pm

1.51%

EDR Alerts

2 major insider sales recently.
Big fall in Revenue (Y/Y)
Big fall in earnings (Y/Y)
Losses in recent quarter

EDR Stock Price

EDR RSI Chart

EDR Valuation

Market Cap

6.6B

Price/Earnings (Trailing)

51.37

Price/Sales (Trailing)

1.26

EV/EBITDA

25.33

Price/Free Cashflow

18.69

EDR Price/Sales (Trailing)

EDR Profitability

EBT Margin

-1.96%

Return on Assets

1.03%

Free Cashflow Yield

5.35%

EDR Fundamentals

EDR Revenue

Revenue (TTM)

5.3B

Revenue Y/Y

-16.28%

Revenue Q/Q

3.2%

EDR Earnings

Earnings (TTM)

129.1M

Earnings Y/Y

-1.1K%

Earnings Q/Q

-2.0K%

Price Action

52 Week Range

17.4229.98

(Low)(High)

Last 7 days

1.7%

Last 30 days

3.8%

Last 90 days

2.7%

Trailing 12 Months

-21.1%

EDR Financial Health

Current Ratio

1.05

Debt/Cashflow

0.09

EDR Investor Care

Shares Dilution (1Y)

8.74%

Diluted EPS (TTM)

0.45

Financials for Endeavor Group Holdings

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	-4.4%	5,268	5,513	5,683	5,482	5,078
Operating Expenses	-5.8%	4,691	4,978	5,167	5,425	5,100
S&GA Expenses	1.4%	2,359	2,326	2,245	2,443	2,284
EBITDA	-59.9%	446	1,113	1,094	-8.23	135
EBITDA Margin	-58.1%	0.08*	0.20*	0.08*	0.00*	0.03*
Earnings Before Taxes	-117.7%	-103	585	578	81.00	-417
EBT Margin	-118.5%	-0.02*	0.11*	-0.01*	-0.10*	-0.08*
Interest Expenses	9.4%	282	258	238	260	269
Net Income	-59.5%	129	319	371	26.00	-318
Net Income Margin	-57.6%	0.02*	0.06*	0.12*	0.12*	0.06*
Free Cahsflow	-10.6%	355	397	540	234	234

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	4.9%	12,504	11,916	11,737	11,359	11,435
Current Assets	-5.6%	2,537	2,687	3,461	3,416	3,754
Cash Equivalents	-20.9%	768	971	1,824	2,030	1,561
Net PPE	8.3%	696	643	630	630	630
Goodwill	0.9%	5,285	5,238	4,541	4,531	4,507
Liabilities	8.3%	9,197	8,492	8,611	8,393	9,103
Current Liabilities	2.8%	2,415	2,349	2,269	1,999	2,705
Long Term Debt	-4.5%	5,427	5,684	5,704	5,714	-
LT Debt, Current	-0.8%	88.00	89.00	87.00	83.00	82.00
LT Debt, Non Current	-4.8%	5,080	5,338	5,597	5,621	5,632
Retained Earnings	-2053.8%	-216	-10.04	-	23.00	-296
Additional Paid-In Capital	2.9%	2,121	2,062	1,962	1,697	1,624
Accumulated Depreciation	-	444	-	-	-	-
Shares Outstanding	1.5%	286	282	268	262	-

* denotes actual numbers (not divided by Millions)
Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	-8.7%	503	551	669	346	334
Share Based Compensation	-7.8%	210	228	240	567	532
Cashflow From Investing	22.7%	-704	-911	-163	-121	-659
Cashflow From Financing	-271.3%	-549	321	570	1,019	960
Dividend Payments	36.7%	36.00	27.00	26.00	4.00	9.00
Buy Backs	-	0.00	-	-	-	-

Risks for EDR

What is the probability of a big loss on EDR?

89.1%

Probability that Endeavor Group Holdings stock will be more than 20% underwater in next one year

48.5%

Probability that Endeavor Group Holdings stock will be more than 30% underwater in next one year.

35.6%

Probability that Endeavor Group Holdings stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does EDR drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Endeavor Group Holdings was unfortunately bought at previous high price.

Drawdowns

Returns for EDR

Cumulative Returns on EDR

Which funds bought or sold EDR recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-17	American Portfolios Advisors	unchanged	-	-101	6,787	-%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	added	58.59	1,897,720	4,380,720	-%
2023-03-06	Rockefeller Capital Management L.P.	added	48.15	177,000	450,000	-%
2023-02-24	SRS Capital Advisors, Inc.	unchanged	-	508	4,508	-%
2023-02-21	MACQUARIE GROUP LTD	reduced	-21.63	-470,000	3,200,000	-%
2023-02-21	NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO	new	-	113	113	-%
2023-02-16	GHP Investment Advisors, Inc.	new	-	10,143	10,143	-%
2023-02-15	Steward Partners Investment Advisory, LLC	unchanged	-	410	5,410	-%
2023-02-15	ALLIANCEBERNSTEIN L.P.	reduced	-59.35	-20,182,400	16,661,600	0.01%
2023-02-15	HOWE & RUSLING INC	sold off	-100	-2,000	-	-%

Latest Funds Activity

Are funds buying EDR calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own EDR

No. of Funds

Endeavor Group Holdings News

Schedule 13G FIlings of Endeavor Group Holdings

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2023	coatue management llc	4.9%	14,155,931	SC 13G/A
Feb 13, 2023	kkr group partnership l.p.	0.1%	152,353	SC 13G/A
Feb 14, 2022	canada pension plan investment board	8.0%	21,038,712	SC 13G
Feb 14, 2022	coatue management llc	7.2%	18,903,853	SC 13G/A
Feb 08, 2022	gic private ltd	7.97%	21,038,712	SC 13G

EDR Fair Value

Endeavor Group Holdings fair value in different scenarios

The table shows the Fair Value estimates for Endeavor Group Holdings for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	- -	- -	- -	- -	- -
Current Inflation	6.32 -73.11%	7.28 -69.02%	8.76 -62.72%	12.47 -46.94%	16.62 -29.28%
Very High Inflation	- -	- -	- -	- -	- -

Historical Endeavor Group Holdings Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Endeavor Group Holdings

View All Filings

Date Filed	Form Type	Document
Mar 07, 2023	4	Insider Trading
Mar 07, 2023	4	Insider Trading
Mar 07, 2023	4	Insider Trading
Feb 28, 2023	10-K	Annual Report
Feb 28, 2023	8-K	Current Report
Feb 23, 2023	4	Insider Trading
Feb 23, 2023	4	Insider Trading
Feb 23, 2023	4	Insider Trading
Feb 14, 2023	SC 13G/A	Major Ownership Report
Feb 13, 2023	SC 13G/A	Major Ownership Report

Latest Insider Trading transactions for EDR

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-03	Emanuel Ariel	back to issuer	-	-	-74,296	chief executive officer
2023-03-03	Endeavor Executive Holdco, LLC	back to issuer	-	-	-74,296	-
2023-03-03	Whitesell Patrick	back to issuer	-	-	-74,296	executive chairman
2023-03-02	Emanuel Ariel	back to issuer	-	-	-81,888	chief executive officer
2023-03-02	Endeavor Executive Holdco, LLC	back to issuer	-	-	-81,888	-
2023-03-02	Whitesell Patrick	back to issuer	-	-	-81,888	executive chairman

About Endeavor Group Holdings

Ari Z. Emanuel

N/A

7700

Endeavor Group Holdings, Inc. operates as an entertainment, sports, and content company in the United States, the United Kingdom, and internationally. It operates in three segments: Owned Sports Properties, Events, Experiences & Rights, and Representation. The Owned Sports Properties segment operates a portfolio of sports properties, including Ultimate Fighting Championship, Professional Bull Rider, Euroleague, and Diamond Baseball Holdings, that license broadcast and other intellectual property rights and operate exclusive live events. The Events, Experiences & Rights segment provides services to a portfolio of live events, including sporting events, fashion, art fairs and music, culinary, and lifestyle festivals. This segment also owns and operates the IMG Academy, an academic and sports training institution; and produces and distributes sports video programming. The Representation segment offers services to a diverse group of talent across entertainment, sports, and fashion, such as actors, directors, writers, athletes, models, musicians, and other artists in various mediums comprising film, television, art, books, and live events. This segment provides brand strategy, marketing, advertising, public relations, analytics, digital, activation, and experiential services to corporate and other clients; intellectual property licensing services to a portfolio of entertainment, sports, and consumer product brands; and content development, production, financing, sales, and advisory services for television properties, documentaries, feature films, and podcasts. The company was founded in 1898 and is based in Beverly Hills, California.

EDR Income Statement

2022-12-31

Consolidated Statements of Operations - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Revenue

$ 5,268,137

$ 5,077,713

$ 3,478,743

Operating expenses:

Direct operating costs

2,065,777

2,597,178

1,745,275

Selling, general and administrative expenses

2,358,962

2,283,558

1,442,316

Insurance recoveries

(1,099)

(68,190)

(86,990)

Depreciation and amortization

266,775

282,883

310,883

Impairment charges

689

4,524

220,477

Total operating expenses

4,691,104

5,099,953

3,631,961

Operating income (loss)

577,033

(22,240)

(153,218)

Other (expense) income:

Interest expense, net

(282,255)

(268,677)

(284,586)

Loss on extinguishment of debt

(28,628)

Tax receivable agreement liability adjustment

(873,264)

(101,736)

Other income,net

475,251

4,258

81,087

Loss before income taxes and equity losses of affiliates

(103,235)

(417,023)

(356,717)

(Benefit from) provision for income taxes

(648,503)

(22,277)

8,507

Income (loss) before equity losses of affiliates

545,268

(394,746)

(365,224)

Equity losses of affiliates, net of tax

(223,604)

(72,733)

(260,094)

Net Loss

321,664

(467,479)

(625,318)

Less: Net income (loss) attributable to non-controlling interests

192,531

(139,168)

29,616

Less: Net loss attributable to Endeavor Operating Company, LLC prior to the reorganization transactions

(31,686)

(654,934)

Net income (loss) attributable to Endeavor Group Holdings, Inc.

$ 129,133

$ (296,625)

$ 0

Basic

^[1]

$ 0.48

$ (1.14)

Diluted

^[1]

$ 0.45

$ (1.14)

Weighted Average Number of Shares Outstanding, Diluted

281,369,848

262,119,930

Weighted Average Number of Shares Outstanding, Diluted

287,707,832

262,119,930

[1]

Basic and diluted loss per share of Class A common stock presented for 2021 is applicable only for the period from May 1, 2021 through December 31, 2021, which is the period following the initial public offering (“IPO”) and the related Reorganization Transactions (as defined in Note 1 to the consolidated financial statements). See Note 13 for the calculation of the numbers of shares used in computation of net loss per share of Class A common stock and the basis for computation of net loss per share.

EDR Balance Sheet

2022-12-31

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current Assets:
Cash and cash equivalents	$ 767,828	$ 1,560,995
Restricted cash	278,165	232,041
Accounts receivable	917,000	615,010
Deferred costs	268,524	255,371
Assets held for sale	12,013	885,633
Other current assets	293,206	204,697
Total current assets	2,536,736	3,753,747
Property and equipment, net	696,302	629,807
Operating lease right-of-use assets	346,550	373,652
Intangible assets, net	2,205,583	1,611,684
Goodwill	5,284,697	4,506,554
Investments	336,973	298,212
Deferred income taxes	771,382	36,371
Other assets	325,619	224,490
Total assets	12,503,842	11,434,517
Current Liabilities:
Accounts payable	600,605	558,863
Accrued liabilities	525,239	524,061
Current portion of long-term debt	88,309	82,022
Current portion of operating lease liabilities	65,381	59,743
Deferred revenue	716,147	651,760
Deposits received on behalf of clients	258,414	216,632
Liabilities held for sale	2,672	507,303
Other current liabilities	157,773	105,053
Total current liabilities	2,414,540	2,705,437
Long-term debt	5,080,237	5,631,714
Long-term operating lease liabilities	327,888	363,568
Long-term tax receivable agreement liability	961,623	92,588
Other long-term liabilities	412,982	309,884
Total liabilities	9,197,270	9,103,191
Commitments and contingencies (Note 20)
Redeemable non-controlling interests	253,079	209,863
Shareholders' Equity:
Additional paid-in capital	2,120,794	1,624,201
Accumulated deficit	(216,219)	(296,625)
Accumulated other comprehensive loss	(23,736)	(80,535)
Total Endeavor Group Holdings, Inc. shareholders' equity	1,880,844	1,247,046
Nonredeemable non-controlling interests	1,172,649	874,417
Total shareholders' equity	3,053,493	2,121,463
Total liabilities, redeemable interests and shareholders' equity	12,503,842	11,434,517
Common Class A [Member]
Shareholders' Equity:
Common stock value	2	2
Common Class B [Member]
Shareholders' Equity:
Common stock value	0	0
Common Class C [Member]
Shareholders' Equity:
Common stock value	0	0
Common Class X [Member]
Shareholders' Equity:
Common stock value	1	1
Common Class Y [Member]
Shareholders' Equity:
Common stock value	$ 2	$ 2