TKO reported $15.3B of remaining performance obligations at 30 Sep 2026, down 8% from a year earlier and down 4% from the previous quarter. That is 2.8 years of trailing revenue already under contract. Book-to-bill last quarter: 0.49.
Net new backlog added in the latest quarter: -$695M.
Over the last twelve months it turned about 34% of its opening backlog into revenue (12-month conversion).
The company reports 6% of the backlog due within the first 3 months.
Customer prepayments (contract liabilities) cover 5.0% of the backlog.
Twelve-month book-to-bill: 0.76, i.e. 0.76 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: -28 points — revenue is catching up with orders.
By backlog size it ranks 60th among US filers the cockpit tracks.
TKO backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
30 Sep 2026
$15.3B
$5.54B
2.8 yrs
$768M
30 Jun 2026
$16.0B
$5.30B
3.0 yrs
$639M
31 Mar 2026
$16.6B
$5.06B
3.3 yrs
$610M
31 Dec 2025
$16.7B
$4.74B
3.5 yrs
$703M
30 Sep 2025
$16.6B
$4.63B
3.6 yrs
$545M
30 Jun 2025
$7.67B
$5.05B
1.5 yrs
$493M
31 Mar 2025
$8.16B
$4.93B
1.7 yrs
$457M
31 Dec 2024
$8.43B
$4.88B
1.7 yrs
$471M
30 Sep 2024
$7.20B
$6.12B
1.2 yrs
$67.7M
30 Jun 2024
$7.62B
$5.03B
1.5 yrs
$99.5M
31 Mar 2024
$8.13B
$4.14B
2.0 yrs
$112M
31 Dec 2023
$7.59B
$3.22B
2.4 yrs
$673M
Questions
What is TKO's backlog?
TKO reported $15.3B of remaining performance obligations at 30 Sep 2026, down 8% from a year earlier and down 4% from the previous quarter. That is 2.8 years of trailing revenue already under contract. Book-to-bill last quarter: 0.49.
How fast does TKO's backlog turn into revenue?
Over the last twelve months TKO recognised revenue equal to about 34% of the backlog it started each quarter with.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.