Sphere Entertainment Co.

SPHR Communication Services Entertainment

Sphere Entertainment Co.’s revenue for fiscal 2025 (year ended December 2025) was $1.2 billion, up 18.8% from fiscal 2024. In the quarter to June 2026, revenue grew 11.0%, EPS fell 125.6%, free cash flow fell 92.9% and total debt fell 12.3%, each against the same quarter a year earlier. Revenue growth for three consecutive years.

103.53 5.32 −4.89%
Market cap
$3.9B
P/E
0.0×
Fwd P/E
−52.3×
Dividend yield
—
F-score
n/a
Altman Z
1.11
Beneish M
n/a
Dividend safety
n/a

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 24.98%

Capital & Financial Ratios $m

Market Cap 3,910.00
Revenue 1,356.85
Net Income (70.32)
Free Cash Flow 359.07
Net Debt 232.62
Current Ratio 1.22
Debt/Equity 0.35 (at or below 0.5: strong)
P/E ratio 0.00
Fwd P/E (52.30) (negative: loss-making)
P/S ratio 2.76
P/B ratio 1.68
Past 5Y EPS Growth —
This Y EPS Growth (448.05%) (below 0%: weak)
Next Y EPS Growth 3.92%
Next Y revenue growth 10.98% (at or above 10%: strong)
Next 5Y EPS Growth (1.47%) (below 0%: weak)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/S against its own 10 years 78.30%
10-year low 10-year high
P/B against its own 10 years 89.69%
10-year low 10-year high
EV/Sales against its own 10 years 63.07%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2025 Powerpack
2024 Powerpack
2023 Powerpack
2022 Powerpack
2021 Powerpack
2019 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 429 573 521 552
Receivables 139 238 196 165
Inventory — — — —
Other — — — —
624 866 810 784
2023 2024 2025 Q'26
Payables 516 417 25 14
ST’ Debt 139 858 77 62
Other — — — —
692 1,374 743 640

Compound Annual Growth %

10y 5y 3y
Sales — (3.21%) 25.99%
Cash Flow 9.71% (4.61%) 19.85%
Earnings 17.09% (28.74%) 0.00%
Book Value 0.00% 0.48% (4.74%)

Revenue $m

Sep Dec Mar Jun Year
’26 — — 386 314 —
’25 228 394 281 283 1,220
’24 118 314 321 273 1,027
’23 123 160 162 129 574
’22 295 516 353 (553) 610
’21 171 169 214 94 648
’20 178 394 182 9 1,436
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Sep Dec Mar Jun Year
’26 — — 136 (34) —
’25 34 180 6 (59) 243
’24 (95) 46 101 (72) (20)
’23 (81) 136 138 16 154
’22 7 126 106 35 141
’21 (191) (7) (114) 55 (59)
’20 — — 134 (38) 308
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Sep Dec Mar Jun Year
’26 — — 131 (48) —
’25 16 165 (11) (25) 240
’24 (285) (19) 82 (87) (309)
’23 (372) (155) (686) (17) (703)
’22 (140) (61) (442) (221) (664)
’21 147 (123) (460) (90) (550)
’20 — — (192) (164) (149)
Fiscal quarters ending in the months shown.

EPS $

Sep Dec Mar Jun Year
’26 — — (0.04) (1.07) —
’25 (2.95) 1.23 (2.27) 3.39 0.74
’24 1.89 (4.91) (1.33) (1.31) (5.68)
’23 (1.30) 1.95 (1.64) 15.24 14.48
’22 (2.55) 0.07 (0.51) (3.00) (5.55)
’21 (1.18) (1.77) (3.66) (4.87) (4.89)
’20 (2.36) 3.39 (5.36) 5.26 4.29
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low — — — — 27.10 27.83 18.00 19.91 29.70 23.89

Analyst estimates 2026–2028

Powerpack
High — — — — 49.25 56.08 39.06 43.93 51.83 97.20
People
People Employees — — — 11,300 7,600 5,800 10,900 1,100 3,100 3,300
Revenue/emp, $m — 0.00 0.00 0.09 0.19 0.11 0.06 0.52 0.33 0.37
Income, $m
Income, $m Revenue — 989 989 1,049 1,436 648 610 574 1,027 1,220
Gross margin, % — 35.77 35.77 36.06 44.95 59.40 47.50 40.36 46.65 51.64
EBT — (29) (424) (410) 252 44 (168) 275 (360) 57
EBT margin, % — (2.93) 0.00 0.00 17.51 6.72 (27.49) 48.00 (35.08) 4.69
Net income — 0 0 0 150 (167) (190) 506 0 33
Depreciation — 98 112 54 115 128 133 108 280 374
Per share, $
Per share, $ Revenue — 0.00 41.22 43.72 41.19 19.00 17.81 16.56 29.09 33.83
Earnings — (4.52) 0.08 (0.85) 4.30 (4.89) (5.55) 14.59 (5.68) 0.93
Cash flow — 4.01 0.00 0.00 8.84 (1.72) 4.13 4.43 (0.56) 6.75
Capex — 0.00 0.00 0.00 (13.12) (14.41) (23.51) (24.73) (8.21) (0.10)
Free cash flow — 4.01 0.00 0.00 (4.28) (16.13) (19.38) (20.30) (8.76) 6.65
Book value — 0.00 0.00 0.00 82.27 63.98 57.67 74.57 0.00 61.92
Shares, m — 24 24 24 35 34 34 35 35 36
Valuation, ×
Valuation, × P/E — 0.00 0.00 0.00 36.76 0.00 0.00 1.90 0.00 130.25
P/S — 0.00 0.00 0.00 1.09 2.04 1.36 1.65 1.20 2.81
P/B — 0.35 0.35 0.35 0.29 0.61 0.42 0.37 0.51 1.54
EV/Sales — 0.00 0.00 0.00 (0.49) 2.33 2.74 3.10 1.99 3.08
EV/FCF — 0.31 0.31 0.31 1.02 (2.87) (1.93) (1.45) (6.59) 15.65
Cash, $m
Cash, $m Operating cash flow — 96 142 78 308 (59) 141 154 (20) 243
Capex — (42) (187) (208) (457) (491) (805) (857) (290) (4)
Free cash flow — 96 (45) (130) (149) (550) (664) (703) (309) 240
Balance, $m
Balance, $m Working capital — — 873 80 917 1,143 258 (68) (611) 67
Total debt — — 49 74 52 1,728 996 1,257 1,363 845
Net debt — — (1,152) (1,127) (1,210) 188 235 828 847 323
Shareholders’ equity — — 2,586 142 2,868 2,180 1,975 2,584 2,201 2,233
Returns, %
Returns, % ROA — 0.00 (0.50) 10.70 9.53 (3.28) (3.60) 9.58 0.00 0.77
ROIC — 0.00 (18.47) (180.22) 8.86 1.70 (4.69) (5.00) 0.00 (5.61)
ROE — 0.00 0.00 13.32 12.07 (5.87) (9.36) 22.06 0.00 1.51
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Sphere Entertainment Co. 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
CNK Cinemark Holdings Inc $4.5B 20.7× 14.7× +15.51% (above 0%: growing) +46.34% (above 0%: growing) +21.34% (above 0%: growing) 42.97% 21.45% Compare
VSNT Versant Media Group, Inc. $4.3B 3.9× 9.8× — — −23.41% (below 0%: shrinking) 60.46% 22.32% Compare
SPHR Sphere Entertainment Co. $3.9B — (loss-making) — (loss-making) +10.95% (above 0%: growing) n/m −92.89% (below 0%: shrinking) 51.84% (19.53%)
MSGE Madison Square Garden Entertainment Corp. $3.8B 55.5× 31.2× +27.37% (above 0%: growing) n/m +33.34% (above 0%: growing) 38.63% (4.40%) Compare
MANU Manchester United Ltd. $3.6B — (loss-making) 75.1× −3.71% (below 0%: shrinking) n/m +47.29% (above 0%: growing) 100.00% (9.47%) Compare
BATRK Atlanta Braves Holdings, Inc. $3.2B — (loss-making) — (loss-making) +8.59% (above 0%: growing) n/m −417.66% (below 0%: shrinking) 18.43% 0.00% Compare
BATRA Atlanta Braves Holdings, Inc. $3.2B — (loss-making) — −2.34% (below 0%: shrinking) n/m −185.33% (below 0%: shrinking) 15.90% (6.08%) Compare
IMAX IMAX Corporation $2.8B 67.8× 30.7× +12.17% (above 0%: growing) +33.33% (above 0%: growing) +63.43% (above 0%: growing) 61.16% 20.20% Compare
AMC AMC Entertainment Holdings, Inc. $2.7B — (loss-making) — (loss-making) +14.22% (above 0%: growing) n/m +113.27% (above 0%: growing) 65.68% 14.91% Compare
Median of peers $3.4B 38.1× 30.7× +12.17% — +27.34% 51.72% 7.46%

All 53 Entertainment stocks →

Sphere Entertainment Co. (SPHR) key facts

  • Strength: Sphere Entertainment Co.’s revenue for fiscal 2025 (year ended December 2025) was $1.2 billion, up 18.8% from fiscal 2024.
  • Sphere Entertainment Co. (SPHR) is an Entertainment company in the Communication Services sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, SPHR traded at $103.53, a market capitalization of $3.9 billion.
  • Return on equity was 1.51% and debt-to-equity 0.35.
  • Its Altman Z-score is 1.11 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Sphere Entertainment Co. (SPHR) Latest News

stockrow.com/SPHR · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com