UFC W Investor Presentation
UFC W
INVESTOR PRESENTATION APRIL 2023
UFC and WWE: Adjusted EBITDA and Free Cash Flow
GAAP to Non-GAAP Reconciliations | $ Millions
UFC
WWE
COMBINED
Years Ended December 31,
Years Ended December 31,
Years Ended December 31,
2017
2019
2022
2017
2019
2022
2017
2019
2022
Net (loss) income
$
(160.6)
$
64.0 $
389.0
$
32.6
$
77.1 $
195.6
$
(128.0)
$
Provision for income taxes
23.9
13.1
14.3
31.4
17.6
68.8
55.3
141.1
30.7
$
584.6
83.1
Interest expense, net
110.2
127.8
139.6
14.7
26.1
21.2
124.9
153.9
160.8
Depreciation and amortization
240.4
142.1
60.0
26.0
34.1
37.3
266.4
176.2
97.3
Equity-based compensation expense
13.3
38.9
23.7
24.2
29.4
34.9
37.5
68.3
58.6
Merger, acquisition and earn-out costs
7.2
0.4
-
7.2
0.4
Certain legal costs
13.7
8.4
0.8
5.6
19.3
8.4
0.8
Restructuring, severance and impairment
2.0
4.7
6.7
Other
7.1
7.4
1.3
(3.1)
(4.3)
26.8
4.0
3.1
28.1
Adjusted EBITDA
$
257.2
$
402.1
$
628.7
$
136.1
$
180.0 $
384.6
$
393.3
$
582.1 $
1,013.3
Net income margin
34.1%
15.1%
24.0%
Adjusted EBITDA margin
55.1%
29.8%
41.7%
Net cash provided by operating activities
Cash used for capital expenditures
Free Cash Flow
Free Cash Flow Conversion
143.9 $
(32.3)
$
111.6
$
321.9
(39.5)
282.4
501.7
$
96.6
(12.4)
(24.7)
$
489.3
$
71.9
$
121.7
(69.1)
52.6 $
$
325.6
(199.9)
125.7
$
240.5 $
1
$
(57.0)
183.5
$
443.6 $
(108.6)
335.0 $
827.3
(212.3)
615.0
60.7%
Notes: Figures as of FY2022. Includes $170.6 million of capital expenditures related to WWE's new headquarter facility for FY2022. Excluding this amount, Free Cash Flow was $296.3 million for FY2022.
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