Pricing Log in Create free account
Friday 6 November 2026 Export SIRI’s income statement to Excel — free account

Sirius XM Holdings Inc.

SIRI Communication Services Entertainment

Sirius XM Holdings Inc.’s revenue for fiscal 2025 (year ended December 2025) was $8.6 billion, down 1.62% from fiscal 2024.

Revenue
−0.28%
EPS
+6.82%
Free cash flow
+14.1%
Total debt
−7.55%

Quarter to September 2026, against a year earlier

33.23 0.17 −0.51%
Market cap
$11.2B
P/E
12.4×
Fwd P/E
9.7×
Dividend yield
3.25%
F-score
7/9
Altman Z
1.24
Beneish M
−2.52
Dividend safety
57/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2025

  • SiriusXM
  • Pandora and Off-platform

Every year since 2016 →

Insider Decisions last twelve months

Bought, $m 26.89
Sold, $m 1.24
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — 1 —
Sell — — — — — 2 — — 1 — — —
Insider Ownership 7.78%

Capital & Financial Ratios $m

Size
Market Cap 11,180.00
Revenue ttm 8,597.00
Net income ttm 900.00
Free cash flow ttm 1,585.00
Net debt Q 9,106.00
Valuation
P/E 12.45
Forward P/E 9.65
Price / sales 1.30
Forward P/S Powerpack
Price / FCF 7.07
Price / book 0.92
Financial health
Current ratio Q 0.32 (below 1: weak)
Debt / equity Q 0.77
Interest coverage Q 4.39
Growth
Revenue growth Q −0.28% (below 0%: shrinking)
Operating income growth Q −2.84% (below 0%: shrinking)
EPS, this year +33.46% (at or above 15%: strong)
EPS, next year A +10.85%
Revenue, next year A +0.33%
EPS, past 5 yrs +49.36% (at or above 15%: strong)
EPS, next 5 yrs A +16.73% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.4×, against a ten-year median of 4.1×; over the ten years it ranged from 1.9× in 2025 to 7.0× in 2018.
P/E against its own 10 years 16.96%
10-year low 10-year high
P/S against its own 10 years 23.10%
10-year low 10-year high
EV/Sales against its own 10 years 23.51%
10-year low 10-year high
EV/FCF against its own 10 years 3.26%
10-year low 10-year high

Dividends

Yield
3.25%
Annual rate
1.08
Payout ratio
44.3%
Growth, 2018–26
+11.5%/yr
  1. 0.45 ’18
  2. 0.50 ’19 +10
  3. 0.55 ’20 +10
  4. 0.66 ’21 +21
  5. 0.68 ’22 +4
  6. 0.99 ’23 +45
  7. 1.07 ’24 +8
  8. 1.08 ’25 +1
  9. 1.08 ’26 +0
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 306 162 94 210
Receivables 709 676 761 723
Inventory — — — —
Other 36 21 25 26
1,361 1,149 1,098 1,191
2023 2024 2025 Q'26
Payables 1,303 1,284 1,290 1,205
ST’ Debt 1,079 61 1,058 1,250
Other 200 164 158 170
3,951 2,731 3,653 3,670

Compound Annual Growth %

10y 5y 3y
Sales 6.47% 1.26% (1.68%)
Cash Flow 4.31% (1.22%) (1.42%)
Earnings 4.68% 43.78% (3.93%)
Book Value 0.00% 0.00% 0.00%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.76 Actual 0.78

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.77 0.84 Beat by 0.07
Q1 FY26 0.70 0.72 Beat by 0.02
Q2 FY26 0.78 0.70 Miss by 0.08
Q3 FY26 0.76 0.78 Beat by 0.02
Q4 FY26 0.73 — Reports 4 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.72 0.70 0.78 — —
’25 0.59 0.57 0.84 0.24 2.23
’24 0.65 0.80 (8.74) 0.83 (6.14)
’23 0.60 0.80 0.81 0.90 2.77
’22 0.80 0.70 0.60 0.90 3.04
’21 0.50 1.00 0.80 0.80 3.20
’20 0.70 0.50 0.60 (1.60) 0.30
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 2,091 2,160 2,153 — —
’25 2,068 2,138 2,159 2,193 8,558
’24 2,162 2,178 2,171 2,188 8,699
’23 2,144 2,250 2,271 2,288 8,953
’22 2,186 2,253 2,280 2,284 9,003
’21 2,058 2,159 2,198 2,281 8,696
’20 1,952 1,874 2,025 2,189 8,040
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 271 722 457 — —
’25 242 546 430 680 1,898
’24 264 489 309 679 1,741
’23 350 451 500 528 1,829
’22 355 533 412 681 1,981
’21 292 636 443 627 1,998
’20 416 591 443 568 2,018
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 166 592 291 — —
’25 53 401 255 536 1,245
’24 90 316 93 514 1,013
’23 145 323 312 399 1,179
’22 258 434 329 534 1,555
’21 214 550 363 483 1,610
’20 354 504 362 448 1,668
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 1.6% a year for ten years. It grew −2.8% a year over the last ten.

Implied
1.6%
10 years, reported
−2.8%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

2.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 5,017 5,425 5,771 7,794 8,040 8,696 9,003 8,953 8,699 8,558 8,597 +6.1% 8,586 8,712 8,894 +1.3%
Gross margin, % 60.27 61.27 59.99 56.03 55.49 54.37 54.13 52.99 52.53 51.88 52.33 (8.4) pt
EBT 1,092 1,264 1,421 1,197 430 1,526 1,486 1,210 (1,865) 1,056 1,189 (0.4%)
EBT margin, % 21.76 23.30 24.62 15.36 5.35 17.55 16.51 13.52 (21.44) 12.34 13.83 (9.4) pt
Net income 746 648 1,176 914 131 1,314 1,118 988 (2,075) 805 900 +0.9%
Per share, $
Per share, $ Revenue 10.20 11.70 12.93 17.32 18.57 21.41 25.95 26.41 25.74 25.32 25.51 +10.6%
Earnings 1.50 1.40 2.60 2.00 0.30 3.20 3.22 2.91 (6.14) 2.38 2.67 +5.3%
Cash flow 3.50 4.00 4.21 4.48 4.66 4.92 5.71 5.40 5.15 5.62 6.32 +5.4%
Capex (0.42) (0.62) (0.80) (0.81) (0.81) (0.96) (1.23) (1.92) (2.15) (1.93) (1.62) +18.5%
Free cash flow 3.08 3.38 3.42 3.67 3.85 3.96 4.48 3.48 3.00 3.68 4.70 +2.0%
Book value (1.61) (3.29) (4.07) (1.64) (5.28) (6.46) (9.66) 38.65 32.76 34.21 36.04 n/m
Shares, m 492 464 446 450 433 406 347 339 338 338 337 (4.1%)
Valuation, ×
Valuation, × P/E 29.60 39.29 21.15 34.05 212.33 19.84 19.30 17.35 0.00 8.40 12.45 40.1
P/S 4.35 4.45 4.41 4.13 3.43 2.97 2.23 2.08 0.89 0.79 1.30 3.0
P/B 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.42 0.70 0.58 0.92 0.3
EV/Sales 5.47 5.69 5.60 5.12 4.48 3.97 3.28 3.29 2.06 1.91 2.36 4.1
EV/FCF 18.15 19.67 21.19 24.14 21.59 21.42 18.96 24.98 17.69 13.15 12.81 20.1
Cash, $m
Cash, $m Operating cash flow 1,719 1,856 1,880 2,017 2,018 1,998 1,981 1,829 1,741 1,898 2,130 +1.1%
Capex (206) (288) (355) (363) (350) (388) (426) (650) (728) (653) (545) +13.7%
Free cash flow 1,513 1,568 1,525 1,654 1,668 1,610 1,555 1,179 1,013 1,245 1,585 (2.1%)
Balance, $m
Balance, $m Working capital (2,026) (2,351) (2,325) (2,290) (2,200) (1,800) (1,943) (2,590) (1,582) (2,555) (2,479) +2.6%
Net debt 5,634 6,677 6,834 7,738 8,429 8,690 9,395 10,846 10,213 9,612 9,106 +6.1%
Shareholders’ equity (792) (1,524) (1,817) (736) (2,285) (2,625) (3,351) 13,102 11,074 11,563 12,147 n/m
Returns, %
Returns, % ROA 9.29 7.93 14.25 9.46 1.22 12.75 8.95 3.92 (5.78) 2.94 3.30 (6.3) pt
ROIC 18.48 19.90 21.51 14.70 8.73 20.76 19.84 4.72 (4.45) 4.34 4.80 (14.1) pt
ROE (155.64) (55.96) (70.40) (71.60) (8.67) (53.52) (30.39) 16.12 (13.77) 7.11 7.59 +162.8 pt
People
People Employees 2,402 2,575 2,699 4,534 5,726 5,590 5,869 5,680 5,515 5,119 — +8.8%
Revenue/emp, $m 2.09 2.11 2.14 1.72 1.40 1.56 1.53 1.58 1.58 1.67 — (2.4%)
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Business profile

Updated

Sirius XM Holdings is an audio entertainment company serving listeners and advertisers. Founded in 2008, it is headquartered in New York City, and its chief executive officer is Jennifer C. Witz.

The company operates two businesses: SiriusXM and Pandora and Off-platform. SiriusXM sells subscriptions to music, sports, news, talk, comedy and other programming. Its service reaches listeners through satellite radios in vehicles and through streaming apps on phones, home devices and other connected equipment. Its 360L in-car interface combines satellite and streaming services.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by segment, and margins
SiriusXM 6,417 74.98%
Pandora and Off-platform 2,141 25.02%
Gross margin 51.88%
Operating margin 17.19%
Pre-tax margin 12.34%

Revenue by segment since 2016

Sirius XM Holdings Inc. vs peers in Entertainment (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
FWONK Liberty Media Corporation - Liberty Formula One Series C $26.5B 102× 89.9× +24.06% (above 0%: growing) −98.69% (below 0%: shrinking) +35.16% (above 0%: growing) 20.97% 0.00% Compare
ROKU Roku, Inc. $23.9B 46.4× 52.9× +24.07% (above 0%: growing) +625.53% (above 0%: growing) +72.39% (above 0%: growing) 43.18% 10.92% Compare
WMG Warner Music Group Corp. $16.7B 24.9× 21.4× +10.36% (above 0%: growing) n/m +1,528.57% (above 0%: growing) 45.82% 16.36% Compare
NWS News Corporation $14.8B 26.0× — +6.39% (above 0%: growing) +45.00% (above 0%: growing) +160.00% (above 0%: growing) 56.69% 0.00% Compare
NWSA News Corporation $14.8B 23.9× 22.7× +6.39% (above 0%: growing) +45.00% (above 0%: growing) +160.00% (above 0%: growing) 56.69% 0.00% Compare
SIRI Sirius XM Holdings Inc. $11.2B 12.4× 9.7× −0.28% (below 0%: shrinking) +6.82% (above 0%: growing) +14.12% (above 0%: growing) 52.30% 22.25%
LLYVK Liberty Live Holdings, Inc. $9.9B — (loss-making) — — n/m — — — Compare
LLYVA Liberty Live Holdings, Inc. $9.8B — (loss-making) — — n/m — — — Compare
MSGK MSG Knickerbockers Corp. $7.7B 1,029× — (loss-making) +36.67% (above 0%: growing) n/m +16.75% (above 0%: growing) 42.77% 11.53% Compare
Median of peers $14.8B 36.2× 37.8× +17.21% +45.00% +116.20% 44.50% 5.46%

All 48 Entertainment stocks →

From the latest earnings call

Updated

  • CEO Jennifer Witz said Companion plans and dealer programs helped support self-pay subscriber additions, although she expects a more difficult fourth quarter.
  • CFO Zac Coughlin said podcasting and programmatic growth supported advertising revenue, while limited podcast inventory constrained third-quarter growth.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 85.30%
Held by the ten largest 61.21%
Holder Shares Stake Change
Berkshire Hathaway 124.81m 37.03% 0.00
Vanguard 18.97m 5.63% +489.49k
BlackRock 17.60m 5.22% +7.98m
Dimensional Fund Advisors 10.51m 3.12% +4.21m
CHECK CAPITAL MANAGEMENT INC/CA 8.78m 2.61% +5.84m
Kontiki Capital Management (HK) Ltd. 6.08m 1.80% +386.10k
State Street 5.99m 1.78% +2.44m
Boston Partners 5.08m 1.51% +5.08m
Gates Capital Management, Inc. 4.54m 1.35% +1.80m
Geode Capital Management 3.90m 1.16% +194.78k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 10 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 8.01m 6.03m 37.01
2024 37.08m 12.29m 40.21
2023 7.16m 3.07m 93.34
2022 6.01m 4.66m 97.50
2021 32.10m 32.16m 100.74

Ownership

Directors and executive officers, together 3.27%
Berkshire Hathaway Inc. 37.10%
John C. Malone c/o Liberty Media Corporation 6.60%
The Vanguard Group 5.40%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Sirius XM Holdings Inc. (SIRI) Latest News

29 Oct

Impact 4 · · MarketBeat
Impact 4 · · Moby
Impact 3 · · Zacks
Impact 3 · · StockStory
Impact 3 · · Zacks
Impact 3 · · PR Newswire

28 Oct

Impact 3 · · StockStory

27 Oct

Impact 4 · · Simply Wall St.

24 Oct

Impact 4 · · Simply Wall St.
Impact 3 · · Simply Wall St.

22 Oct

Impact 4 · · Zacks

21 Oct

Impact 3 · · PR Newswire

18 Oct

Impact 3 · · Simply Wall St.

16 Oct

Impact 3 · · StockStory

12 Oct

Impact 4 · · Simply Wall St.

9 Oct

Impact 3 · · Simply Wall St.

5 Oct

Impact 3 · · Zacks
Impact 3 · · PR Newswire

24 Sep

Impact 4 · · Simply Wall St.

22 Sep

Impact 3 · · Zacks

12 Sep

Impact 3 · · MarketBeat
Impact 3 · · MarketBeat

7 Sep

Impact 3 ·

3 Sep

Impact 4 ·

2 Sep

Impact 3 ·
Impact 3 · · 24/7 Wall St.

6 Aug

Impact 3 ·

31 Jul

Impact 3 ·

30 Jul

Impact 3 · · MarketBeat transcript
Impact 3 ·

SIRI metrics, ten years each

stockrow.com/SIRI · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com