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Sphere Entertainment Co.

SPHR

$112.24 ▲ +3.48 (+3.20%) at close

10 Visible periods

32 Metrics

Peer-ranked Benchmarks

Price Chart

Health

Fair

Bearish

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Analytical Summary

Sphere Entertainment Co. faces fundamental challenges with weakness in Operating Margin (%). The fundamentals warrant careful consideration of downside risks.

Market Cap $4.0B

Dividend Yield —

Revenue Growth None

Op. Margin -18.8%

ROIC -4.6%

FCF / Share $6.75

Trailing P/E 120.7x

Price / Book 1.8x

FCF Yield 6.0%

Debt / Equity 0.31

info Valuation on last close. End-of-day price, Nov 5, 2026.

10-Year Financial Trajectory

Annual

Metric Value Trend Year over Year Percentile

Revenue Total top-line sales

$1.22B

↑ +18.8% —

Net Income Profit after all expenses

$33.41M

↑ +116.6% —

Operating Margin Operating profit as % of sales

-18.8%

↓ -216.0% 10th

FCF / Share Free cash flow per share

$6.75

↑ +1311.5% —

Long-Term Debt Long-term obligations

$692.69M

↑ +32.2% —

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Bullish Indicators

No bullish signals detected.

warning

Bearish Risks

Operating Margin (%)Operating Margin (%) is in the bottom quartile

Health Breakdown

Profitability ↓

Returns

Financial Health ↓

Cash Quality ↑

Financial view

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📈 Is growth accelerating? 7 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Jun 30, 2024 10-K ↗	FY 2022 Jun 30, 2023 10-K ↗	FY 2021 Jun 30, 2022 10-K ↗	FY 2020 Jun 30, 2021 10-K ↗	FY 2019 Jun 30, 2020 10-K ↗	FY 2018 Jun 30, 2019 10-K ↗	FY 2017 Jun 30, 2018 10-K ↗	FY 2016 Jun 30, 2017 10-K ↗
Revenue Growth YoY (%)	—	—	79.0% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+1479%)	-66.7% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-1435%)	111.8% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+2136%)	6.7% Fair ↑ Fair Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+34%)	-27.3% Weak Weak Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-645%)	6.1% Fair Fair Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+21%)	—	—
EPS Growth YoY (%)	—	—	N/M	N/M	-25.4% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	N/M	—	—	—	—
Net Income Growth YoY (%)	—	—	N/M	N/M	-31.2% Weak Weak Year-over-year change in net income	N/M	N/M	N/M	—	—
FCF Growth YoY (%)	—	—	N/M	N/M	-18.9% Weak ↑ Weak Improving Year-over-year change in free cash flow	-1.7% Weak ↑ Weak Improving Year-over-year change in free cash flow	-286.1% Weak Weak Year-over-year change in free cash flow	-114.7% Weak Weak Year-over-year change in free cash flow	—	—
Revenue CAGR 3Y (%)	28.6% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	—	8.0% Fair ↑ Fair Improving Compound annual revenue growth over 3 years	-9.1% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	18.0% Excellent Excellent Compound annual revenue growth over 3 years	-6.3% Weak Weak Compound annual revenue growth over 3 years	—	—	—	—
Revenue CAGR 5Y (%)	8.4% Good ↑ Good Improving Compound annual revenue growth over 5 years	—	-0.4% Weak Weak Compound annual revenue growth over 5 years	-10.3% Weak Weak Compound annual revenue growth over 5 years	—	—	—	—	—	—
EPS CAGR 3Y (%)	-60.0% Weak Weak Compound annual EPS growth over 3 years	—	—	172.1% Excellent Excellent Compound annual EPS growth over 3 years	—	—	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Jun 30, 2024 10-K ↗	FY 2022 Jun 30, 2023 10-K ↗	FY 2021 Jun 30, 2022 10-K ↗	FY 2020 Jun 30, 2021 10-K ↗	FY 2019 Jun 30, 2020 10-K ↗	FY 2018 Jun 30, 2019 10-K ↗	FY 2017 Jun 30, 2018 10-K ↗	FY 2016 Jun 30, 2017 10-K ↗
Operating Margin (%) (%)	-18.8% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-257%)	—	—	—	-6.0% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-150%)	-23.1% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-293%)	-7.8% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-165%)	-4.3% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-136%)	-3.2% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-126%)	—
Effective Tax Rate (%) (%)	41.6% Weak Weak Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	—	—	11.9% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-3.6% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	-52.3% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	-1.5% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	106.5% Weak Weak Actual taxes paid relative to pre-tax income Optimal: 15-25%	—
Profit Margin (%) (%)	2.7% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-66%)	—	-19.5% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-344%)	87.6% Excellent ↑ Excellent Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+995%)	-11.3% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-241%)	-18.2% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-327%)	2.3% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-72%)	-1.7% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-121%)	0.7% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-91%)	—
FCF Margin (%) (%)	19.9% Good ↑ Good Improving Free cash flow as a percentage of revenue Optimal: > 10%	—	-1.9% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	26.8% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	-35.7% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	-63.2% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-46.7% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-8.8% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	-4.3% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	—
FCF / Net Income (x)	7.28x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	—	0.10x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.31x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	3.17x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	3.47x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	-20.68x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	5.16x Excellent Excellent Free cash flow relative to reported net income Optimal: > 1x	-6.23x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	—

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Jun 30, 2024 10-K ↗	FY 2022 Jun 30, 2023 10-K ↗	FY 2021 Jun 30, 2022 10-K ↗	FY 2020 Jun 30, 2021 10-K ↗	FY 2019 Jun 30, 2020 10-K ↗	FY 2018 Jun 30, 2019 10-K ↗	FY 2017 Jun 30, 2018 10-K ↗	FY 2016 Jun 30, 2017 10-K ↗
Return on Invested Capital (%)	-4.6% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	—	—	—	-2.5% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-5.1% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-3.2% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	-1.8% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	—	—
Return on Capital (%) (%)	-5.5% Weak Weak Operating profit relative to total assets Optimal: > 10%	—	—	—	-1.9% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-3.6% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-1.6% Weak Weak Operating profit relative to total assets Optimal: > 10%	-1.4% Weak Weak Operating profit relative to total assets Optimal: > 10%	—	—
Return on Common Equity (%) (%)	1.5% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-90%)	—	-8.3% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-155%)	19.5% Good ↑ Good Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+30%)	-9.9% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-166%)	-6.8% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-146%)	0.6% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-96%)	-0.7% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-105%)	—	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Jun 30, 2024 10-K ↗	FY 2022 Jun 30, 2023 10-K ↗	FY 2021 Jun 30, 2022 10-K ↗	FY 2020 Jun 30, 2021 10-K ↗	FY 2019 Jun 30, 2020 10-K ↗	FY 2018 Jun 30, 2019 10-K ↗	FY 2017 Jun 30, 2018 10-K ↗	FY 2016 Jun 30, 2017 10-K ↗
Debt to Equity (x)	0.31x Good ↓ Good Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-56%)	0.24x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-66%)	0.57x Good ↓ Good Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-18%)	0.47x Good ↓ Good Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-33%)	0.85x Fair ↑ Fair Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+21%)	0.76x Fair ↑ Fair Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+9%)	0.01x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-99%)	0.02x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-97%)	—	—
Interest Coverage (x)	—	—	—	—	-3.78x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-9.22x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-25.98x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-2.99x Weak Weak Operating income divided by interest expense Optimal: > 5x	-2.57x Weak Weak Operating income divided by interest expense Optimal: > 5x	—
Net Debt (USD)	$692.69M	$524.01M	$1.38B	$1.08B	$840.71M	$133.64M	$-878.43M	$-1.03B	$-1.23B	$-1.24B
Debt / EBITDA (x)	6.48x Weak Weak Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—	—	76.11x Weak ↑ Weak Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-24.92x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.62x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.76x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—

📊 What does each share earn? 6 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Jun 30, 2024 10-K ↗	FY 2022 Jun 30, 2023 10-K ↗	FY 2021 Jun 30, 2022 10-K ↗	FY 2020 Jun 30, 2021 10-K ↗	FY 2019 Jun 30, 2020 10-K ↗	FY 2018 Jun 30, 2019 10-K ↗	FY 2017 Jun 30, 2018 10-K ↗	FY 2016 Jun 30, 2017 10-K ↗
Revenue per Share (USD)	$33.83	—	$29.09	$16.56	$50.35	$23.89	$31.79	$43.72	$41.22	—
Basic EPS, GAAP (USD)	$0.93	—	$-5.68	$14.51	$-5.77	$-4.60	$0.72	—	—	—
Free Cash Flow per Share (USD)	$6.75	—	$-0.56	$4.43	$-17.96	$-15.10	$-14.85	$-3.85	$-1.79	—
Book Value per Share (USD)	$61.92	—	$68.43	$74.57	$57.31	$63.64	$118.41	$107.20	—	—
Tangible Book Value per Share (USD)	$52.36	—	$55.11	$61.39	$42.71	$48.90	$115.31	$100.30	—	—
Basic Weighted Avg Shares (shares)	36.07M	—	35.30M	34.65M	34.26M	34.08M	24.00M	23.99M	23.99M	—

🏦 How resilient is the balance sheet? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Jun 30, 2024 10-K ↗	FY 2022 Jun 30, 2023 10-K ↗	FY 2021 Jun 30, 2022 10-K ↗	FY 2020 Jun 30, 2021 10-K ↗	FY 2019 Jun 30, 2020 10-K ↗	FY 2018 Jun 30, 2019 10-K ↗	FY 2017 Jun 30, 2018 10-K ↗	FY 2016 Jun 30, 2017 10-K ↗
Working Capital (USD)	$66.80M	$-610.67M	$-507.98M	$-68.23M	$262.23M	$1.14B	$916.53M	$872.70M	—	—
LT Debt (USD)	$692.69M	$524.01M	$1.38B	$1.21B	$1.67B	$1.65B	$28.13M	$48.56M	—	—
Total Equity (USD)	$2.23B	$2.20B	$2.42B	$2.58B	$1.96B	$2.17B	$2.84B	$2.57B	—	—

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Jun 30, 2024 10-K ↗	FY 2022 Jun 30, 2023 10-K ↗	FY 2021 Jun 30, 2022 10-K ↗	FY 2020 Jun 30, 2021 10-K ↗	FY 2019 Jun 30, 2020 10-K ↗	FY 2018 Jun 30, 2019 10-K ↗	FY 2017 Jun 30, 2018 10-K ↗	FY 2016 Jun 30, 2017 10-K ↗
Sales/Revenue/Turnover (USD)	$1.22B	—	$1.03B	$573.83M	$1.72B	$814.21M	$762.94M	$1.05B	$988.99M	—
Depreciation Expense (USD)	$336.41M	—	$256.49M	$103.38M	$124.63M	$122.00M	$104.90M	$109.34M	$112.06M	—
Net Income, GAAP (USD)	$33.41M	—	$-200.65M	$502.77M	$-194.40M	$-148.15M	$17.23M	$-17.89M	$6.90M	—
Operating Cash Flow (USD)	$243.35M	—	$-19.66M	$153.59M	$141.34M	$-58.69M	$96.03M	$91.72M	$144.38M	—

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bar_chart Data from SEC EDGAR XBRL filings

Synced 5 days ago 10 years · 34 quarters

Sphere Entertainment Co.

Analytical Summary

10-Year Financial Trajectory

Bullish Indicators

Bearish Risks

Health Breakdown

Statement lens

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