SPHR

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Sphere Entertainment Co. Class A

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Key Metrics

Previous Close: $159.79
52-Week Range: $40.74 – $181.63
Market Cap: $5.61B
P/E (TTM): —
EPS (TTM): -2.12
Dividend Yield: —

Advanced Metrics

Price/Book: 2.52
PEG Ratio: —
Return on Equity: -3.10%
Return on Assets: -1.25%
Gross Margin: 54.71%
Operating Margin: -19.55%
Profit Margin: -5.66%
Current Ratio: 1.22
Debt/Equity: 0.41
Total Debt: $913.31M
Free Cash Flow: $442.72M
Revenue Growth: 11.00%
Earnings Growth: —
Enterprise Value: $5.97B

SPHR Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$610.05M	$573.83M	$1.03B	$1.22B
Cost of Revenue	$320.28M	$342.21M	$547.82M	$589.98M
Gross Profit	$289.78M	$231.62M	$479.06M	$630.07M
Selling, General & Admin	$419.79M	$452.14M	$432.85M	$441.92M
Operating Expenses	$442.36M	$482.86M	$689.35M	$778.33M
Operating Income	-$152.58M	-$251.24M	-$210.28M	-$148.26M
EBITDA	-$43.05M	$378.81M	-$23.86M	$464.17M
Pretax Income	-$167.68M	$275.43M	-$360.23M	$57.22M
Income Tax	-$29.83M	$103.40M	-$135.59M	$23.81M
Net Income	-$194.40M	$502.77M	-$200.65M	$33.41M
Diluted EPS	-5.77	14.40	-5.68	0.74
Diluted Shares	34.26M	34.93M	35.30M	45.30M

SPHR Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$747.31M	$131.97M	$559.76M	$507.78M
Receivables	$126.36M	$160.17M	$241.47M	$206.93M
Inventory	—	$0.00	$11.89M	$14.45M
Current Assets	$1.22B	$623.91M	$865.70M	$810.17M
Total Assets	$5.52B	$4.97B	$4.79B	$4.21B
Current Liabilities	$961.10M	$692.14M	$1.37B	$743.37M
Long-Term Debt	$929.53M	$1.12B	$522.74M	$767.44M
Total Debt	$1.09B	$1.32B	$1.52B	$961.46M
Total Liabilities	$3.36B	$2.39B	$2.37B	$1.98B
Retained Earnings	-$290.74M	$212.04M	$11.39M	-$186.44M
Shareholders' Equity	$1.96B	$2.58B	$2.42B	$2.23B
Working Capital	$257.56M	-$68.23M	-$507.98M	$66.80M
Net Debt	$248.22M	$1.07B	$812.41M	$322.67M

SPHR Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$141.34M	$153.59M	-$19.66M	$243.35M
Capital Expenditure	-$805.22M	-$1.18B	-$289.75M	-$52.35M
Free Cash Flow	-$663.88M	-$1.02B	-$309.41M	$191.00M
Depreciation & Amortisation	$124.63M	$103.38M	$256.49M	$336.41M
Stock-Based Compensation	$77.14M	$62.66M	$48.01M	$59.01M
Investing Cash Flow	-$804.16M	-$653.92M	-$45.18M	-$3.90M
Financing Cash Flow	-$30.39M	$85.54M	$209.73M	-$233.34M
Dividends Paid	-$2.26M	-$121.51M	$0.00	$0.00
Share Repurchases	$0.00	—	—	-$50.02M
Net Change in Cash	-$693.22M	-$414.79M	$144.89M	$6.10M

SPHR Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$280.57M	$282.68M	$262.51M	$394.28M	$386.41M
Cost of Revenue	$158.32M	$131.32M	$136.98M	$163.35M	$169.65M
Gross Profit	$122.25M	$151.36M	$125.53M	$230.93M	$216.76M
Selling, General & Admin	$114.27M	$113.02M	$99.69M	$114.93M	$121.70M
Operating Expenses	$198.50M	$196.93M	$183.79M	$199.11M	$206.07M
Operating Income	-$76.25M	-$45.57M	-$58.27M	$31.82M	$10.70M
EBITDA	$8.16M	$383.52M	-$43.21M	$115.70M	$92.03M
Pretax Income	-$102.28M	$273.75M	-$136.71M	$22.44M	-$381.00K
Income Tax	-$20.32M	$121.94M	-$35.51M	-$42.30M	-$4.84M
Net Income	-$81.95M	$151.82M	-$101.20M	$64.74M	$4.46M
Diluted EPS	-2.27	3.39	-2.80	1.23	-0.04
Diluted Shares	36.11M	44.85M	36.20M	46.86M	35.88M

SPHR Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$465.02M	$355.66M	$384.83M	$507.78M	$629.11M
Receivables	$192.18M	$172.82M	$195.53M	$206.93M	$209.06M
Inventory	$13.16M	$12.82M	$12.63M	$14.45M	$18.34M
Current Assets	$735.11M	$595.42M	$666.38M	$810.17M	$903.57M
Total Assets	$4.45B	$4.20B	$4.14B	$4.21B	$4.22B
Current Liabilities	$1.38B	$526.94M	$697.23M	$743.37M	$742.66M
Long-Term Debt	$524.68M	$830.53M	$786.07M	$767.44M	$752.70M
Total Debt	$1.46B	$1.02B	$1.00B	$961.46M	$938.37M
Total Liabilities	$2.31B	$1.89B	$1.98B	$1.98B	$1.97B
Retained Earnings	-$301.80M	-$149.98M	-$251.18M	-$186.44M	-$181.98M
Shareholders' Equity	$2.14B	$2.31B	$2.16B	$2.23B	$2.25B
Working Capital	-$645.99M	$68.49M	-$30.84M	$66.80M	$160.91M
Net Debt	$863.79M	$533.67M	$490.02M	$322.67M	$181.28M

SPHR Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	$6.35M	-$59.06M	$115.84M	$180.22M	$136.24M
Capital Expenditure	-$17.49M	-$14.65M	-$5.00M	-$15.21M	-$4.89M
Free Cash Flow	-$11.14M	-$73.71M	$110.84M	$165.01M	$131.35M
Depreciation & Amortisation	$84.23M	$83.91M	$84.10M	$84.17M	$84.37M
Stock-Based Compensation	$21.59M	$18.85M	$8.53M	$10.03M	$13.91M
Investing Cash Flow	-$17.57M	$34.01M	-$5.06M	-$15.28M	-$5.00M
Financing Cash Flow	-$26.31M	-$84.75M	-$81.02M	-$41.27M	-$22.26M
Share Repurchases	—	—	—	$16.00K	—
Net Change in Cash	-$37.53M	-$109.80M	$29.76M	$123.67M	$108.97M

Market Snapshot

About

Sphere Entertainment Co. is an entertainment and media company that operates the innovative Sphere venue in Las Vegas, featuring advanced visual and audio technology. The company creates immersive entertainment experiences combining live performances, original content, and cutting-edge technology.