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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.

Revenue
+11.0%
EPS
−125.6%
Free cash flow
−92.9%
Total debt
−12.3%

Quarter to June 2026, against a year earlier

108.82 3.77 +3.59%
Market cap
$3.9B
P/E
0.0×
Fwd P/E
−41.1×
Dividend yield
—
F-score
n/a
Altman Z
1.11
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Sphere Entertainment Co. (SPHR) EV/EBITDA

Alert me on EV/EBITDA

As of 3 November 2026, Sphere Entertainment Co. (SPHR) trades at a EV/EBITDA of 17.8×. Over the past ten years it has ranged from 0.0× (December 2025) to 86.5× (May 2023); the current reading is higher than 69% of that period. That is above the Entertainment industry median of 9.6× and above the Communication Services sector median of 8.6×.

EV/EBITDA, daily

Embed this chart

Annual newest first

Period EV/EBITDA Change
FY2025 26.1× 408.02%
FY2024 5.1× (78.33%)
FY2023 23.7× 595.56%
FY2022 3.4× (67.23%)
FY2021 10.4× 70.59%
FY2020 6.1× —
FY2019 0.0× —
FY2018 0.0× —
FY2017 0.0× —
FY2017 0.0× —

Quarterly newest first

Period EV/EBITDA Change
Jun 2026 28.6× 52.26%
Mar 2026 18.8× (27.83%)
Dec 2025 26.1× —
Sep 2025 0.0× —
23 more quarters

Against its own ten years

Low 0.0× High 86.5×
Ten-year median 6.6×
Current reading's percentile 69

EV/EBITDA against peers

Company EV/EBITDA
VSNT Versant Media Group, Inc. compare 2.4×
LION Lionsgate Studios Corp. compare 4.2×
CNK Cinemark Holdings Inc compare 9.6×
AMC AMC Entertainment Holdings, Inc. compare 9.6×
MANU Manchester United Ltd. compare 13.3×
SPHR Sphere Entertainment Co. 17.8×
MSGE Madison Square Garden Entertainment Corp. compare 20.4×
BATRK Atlanta Braves Holdings, Inc. compare 56.8×
BATRA Atlanta Braves Holdings, Inc. compare 391×
Entertainment industry median 9.6×
Communication Services sector median 8.6×
Market median 11.2×

What EV/EBITDA is

Enterprise Value over EBITDA tells an investor how the market values a whole company, with debt added and cash taken off, against its operating earnings.

((Stock Price × Shares (Basic, Weighted) (latest quarter)) + (Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter)) − Cash & Short Term Investments (latest quarter)) ÷ EBITDA (TTM)

The full definition of EV/EBITDA →

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