NYSE : SPHR
Sphere Entertainment Co. — Financial statements
Communication Services · Entertainment · United States
Last price 109.14 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 3.92B
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Financial statements
Sphere Entertainment Co. (SPHR) reported revenue of 1.36B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 1.36B | 1.22B | 1.13B | 1.03B | 573.83M | 610.05M |
| Cost of Revenue | 614.56M | 583.49M | 606.56M | 542.10M | 340.54M | 318.99M |
| Gross Profit | 742.28M | 636.55M | 524.37M | 484.79M | 233.30M | 291.06M |
| Selling, General & Admin | 483.52M | 449.89M | 485.01M | 440.00M | 455.06M | 421.86M |
| Other Operating Expenses | 4.38M | 4.38M | -112.51M | |||
| Operating Expenses | 824.85M | 790.68M | 699.94M | 696.50M | 485.78M | 444.42M |
| Operating Income | -82.57M | -154.13M | -175.56M | -211.71M | -252.49M | -153.36M |
| Interest Expense | -34.79M | -70.55M | -111.43M | -79.87M | ||
| Interest & Investment Income | 14.27M | 13.50M | 26.80M | 25.69M | 11.59M | 3.58M |
| Earnings From Equity Investments | -600.00K | -600.00K | -120.00K | -6.68M | -8.18M | -4.86M |
| Other Non Operating Income (Expenses) | -344.00K | -180.00K | -4.44M | -320.00K | -1.37M | 124.00K |
| EBT Excluding Unusual Items | -104.03M | -211.96M | -264.75M | -272.89M | -250.45M | -154.52M |
| Merger & Restructuring Charges | -12.47M | -11.52M | -14.81M | -9.49M | -27.92M | -13.40M |
| Impairment of Goodwill | -65.40M | -65.40M | -61.20M | |||
| Gain (Loss) on Sale of Investments | -12.00K | 170.00K | -19.03M | 547.68M | ||
| Asset Writedown | 4.08M | -122.28M | -121.47M | 6.12M | 245.00K | |
| Legal Settlements | 62.65M | |||||
| Other Unusual Items | -2.07M | 346.09M | ||||
| Pretax Income | -179.90M | 57.22M | -462.88M | -360.23M | 275.43M | -167.68M |
| Income Tax Expense | -109.57M | 23.81M | -113.19M | -135.59M | 103.40M | -29.83M |
| Earnings From Continuing Operations | -70.32M | 33.41M | -349.69M | -224.63M | 172.03M | -137.85M |
| Earnings From Discontinued Operations | 24.63M | 23.98M | 330.75M | -56.55M | ||
| Net Income to Company | -70.32M | 33.41M | -325.06M | -200.65M | 502.77M | -194.40M |
| Minority Interest in Earnings | -6.51M | |||||
| Net Income | -76.84M | 33.41M | -325.06M | -200.65M | 502.77M | -194.40M |
| Preferred Dividends & Other Adjustments | 3.17M | |||||
| Net Income to Common | -76.84M | 33.41M | -325.06M | -200.65M | 502.77M | -197.57M |
| Shares Outstanding (Basic) | 35.98M | 36.07M | 35.68M | 35.30M | 34.65M | 34.26M |
| Shares Outstanding (Diluted) | 35.98M | 45.30M | 35.68M | 35.30M | 34.93M | 34.26M |
| EPS (Basic) | -2.14 | 0.93 | -9.11 | -5.68 | 14.51 | -5.77 |
| EPS (Diluted) | -2.14 | 0.74 | -9.11 | -5.68 | 14.40 | -5.77 |
| Free Cash Flow | 359.07M | 191.00M | -13.77M | -309.41M | -1.02B | -663.88M |
| Free Cash Flow Per Share | 9.98 | 4.22 | -0.39 | -8.77 | -29.24 | -19.38 |
| Gross Margin | 54.71% | 52.18% | 46.37% | 47.21% | 40.66% | 47.71% |
| Operating Margin | -6.08% | -12.63% | -15.52% | -20.62% | -44.00% | -25.14% |
| Profit Margin | -5.66% | 2.74% | -28.74% | -19.54% | 87.62% | -32.39% |
| Free Cash Flow Margin | 26.46% | 15.65% | -1.22% | -30.13% | -178.00% | -108.82% |
| EBITDA | 254.38M | 182.28M | 151.87M | 44.79M | -221.77M | -130.79M |
| EBITDA Margin | 18.75% | 14.94% | 13.43% | 4.36% | -38.65% | -21.44% |
| D&A For EBITDA | 336.95M | 336.41M | 327.44M | 256.49M | 30.72M | 22.56M |
| EBIT | -82.57M | -154.13M | -175.56M | -211.71M | -252.49M | -153.36M |
| EBIT Margin | -6.08% | -12.63% | -15.52% | -20.62% | -44.00% | -25.14% |
| Effective Tax Rate | 41.62% | 37.54% | ||||
| Advertising Expenses | 32.21M | 16.98M | 10.96M | 22.88M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 550.97M | 507.78M | 501.95M | 559.76M | 131.97M | 747.31M |
| Cash & Short-Term Investments | 550.97M | 507.78M | 501.95M | 559.76M | 131.97M | 747.31M |
| Accounts Receivable | 165.12M | 196.09M | 180.35M | 237.61M | 138.71M | 123.95M |
| Receivables | 165.12M | 196.09M | 180.35M | 241.47M | 160.17M | 126.36M |
| Inventory | 17.63M | 14.45M | 12.58M | 11.89M | ||
| Prepaid Expenses | 24.70M | 38.54M | 32.38M | 30.86M | 23.45M | 10.65M |
| Restricted Cash | 1.04M | 13.49M | 13.68M | 13.48M | 297.15M | 13.00M |
| Other Current Assets | 24.58M | 39.83M | 20.04M | 8.23M | 11.18M | 321.34M |
| Total Current Assets | 784.04M | 810.17M | 760.99M | 865.70M | 623.91M | 1.22B |
| Property, Plant & Equipment | 2.65B | 2.80B | 3.13B | 3.26B | 3.39B | 2.22B |
| Long-Term Investments | 37.31M | 38.73M | 40.40M | 27.80M | 394.52M | 40.30M |
| Goodwill | 344.77M | 344.77M | 410.17M | 470.15M | 456.81M | 456.81M |
| Other Intangible Assets | 18.51M | 21.82M | 28.38M | 31.94M | 17.91M | 21.02M |
| Long-Term Deferred Charges | 166.10M | 170.79M | 102.62M | 93.08M | 61.42M | |
| Other Long-Term Assets | 38.66M | 21.61M | 43.09M | 34.33M | 26.37M | 1.56B |
| Total Assets | 4.04B | 4.21B | 4.52B | 4.79B | 4.97B | 5.52B |
| Accounts Payable | 13.88M | 24.59M | 33.61M | 18.88M | 39.65M | 2.01M |
| Accrued Expenses | 127.88M | 152.22M | 145.81M | 177.60M | 222.32M | 69.76M |
| Current Portion of Long-Term Debt | 58.26M | 63.01M | 829.12M | 849.44M | 82.50M | 66.00M |
| Current Portion of Leases | 14.09M | 17.19M | 19.27M | 18.55M | 10.13M | 6.55M |
| Current Unearned Revenue | 158.44M | 192.81M | 91.79M | 80.40M | 27.34M | 4.32M |
| Other Current Liabilities | 267.86M | 293.56M | 252.07M | 228.81M | 310.20M | 812.45M |
| Total Current Liabilities | 640.41M | 743.37M | 1.37B | 1.37B | 692.14M | 961.10M |
| Long-Term Debt | 722.14M | 767.44M | 524.01M | 522.74M | 1.12B | 929.53M |
| Long-Term Leases | 118.82M | 113.82M | 116.67M | 128.02M | 110.26M | 84.42M |
| Pension & Post-Retirement Benefits | 19.78M | 19.78M | 20.20M | 20.45M | 21.12M | |
| Long-Term Deferred Tax Liabilities | 135.20M | 172.11M | 148.87M | 225.17M | 379.55M | 144.39M |
| Other Long-Term Liabilities | 191.54M | 160.14M | 132.89M | 102.53M | 68.36M | 1.22B |
| Total Liabilities | 1.81B | 1.98B | 2.31B | 2.37B | 2.39B | 3.36B |
| Common Stock | 370.00K | 366.00K | 359.00K | 354.00K | 347.00K | 342.00K |
| Additional Paid-In Capital | 2.50B | 2.47B | 2.43B | 2.41B | 2.38B | 2.30B |
| Retained Earnings | -220.31M | -186.44M | -219.85M | 11.39M | 212.04M | -290.74M |
| Treasury Stock | -50.02M | -50.02M | ||||
| Comprehensive Income & Other | -1.50M | -782.00K | -7.51M | -6.57M | -4.94M | -48.35M |
| Total Common Equity | 2.23B | 2.23B | 2.20B | 2.42B | 2.58B | 1.96B |
| Minority Interest | 196.35M | |||||
| Shareholders' Equity | 2.23B | 2.23B | 2.20B | 2.42B | 2.58B | 2.16B |
| Total Liabilities & Equity | 4.04B | 4.21B | 4.52B | 4.79B | 4.97B | 5.52B |
| Total Debt | 913.31M | 961.46M | 1.49B | 1.52B | 1.32B | 1.09B |
| Net Cash (Debt) | -362.33M | -453.68M | -987.12M | -958.99M | -1.19B | -339.19M |
| Net Cash Per Share | -10.07 | -10.02 | -27.67 | -27.17 | -34.05 | -9.90 |
| Filing Date Shares Outstanding | 35.91M | 35.50M | 35.83M | 35.36M | 34.68M | 34.25M |
| Total Common Shares Outstanding | 35.91M | 35.50M | 35.83M | 35.36M | 34.68M | 34.23M |
| Working Capital | 143.63M | 66.80M | -610.67M | -507.98M | -68.23M | 257.56M |
| Book Value Per Share | 62.03 | 62.92 | 61.45 | 68.31 | 74.51 | 57.35 |
| Tangible Book Value | 1.86B | 1.87B | 1.76B | 1.91B | 2.11B | 1.49B |
| Tangible Book Value Per Share | 51.92 | 52.59 | 49.20 | 54.11 | 60.82 | 43.39 |
| Land | 43.84M | 44.28M | 80.88M | 77.47M | ||
| Buildings | 2.28B | 2.27B | 2.26B | 2.26B | 69.05M | 1.38M |
| Machinery | 1.24B | 1.23B | 1.19B | 1.16B | 159.79M | 102.75M |
| Construction In Progress | 692.00K | 5.87M | 7.50M | 4.14M | 3.07B | 2.02B |
| Leasehold Improvements | 23.90M | 23.90M | 23.84M | 18.50M | 18.49M | 18.49M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | -76.84M | 33.41M | -325.06M | -200.65M | 502.77M | -194.40M |
| Depreciation & Amortization | 336.95M | 336.41M | 327.44M | 256.49M | 30.72M | 22.56M |
| Other Amortization | 44.42M | 37.15M | 34.39M | 23.61M | 5.06M | 8.73M |
| Asset Writedown & Restructuring Costs | 65.70M | 69.78M | 70.97M | 121.47M | -224.83M | -3.04M |
| Loss (Gain) on Equity Investments | 1.63M | 1.63M | 3.12M | 22.97M | -548.69M | 54.87M |
| Stock-Based Compensation | 50.19M | 59.01M | 65.25M | 48.01M | 62.66M | 77.14M |
| Other Operating Activities | -101.31M | -336.28M | -102.02M | -132.05M | 125.84M | 10.24M |
| Change in Accounts Receivable | -1.21M | -17.12M | 26.53M | -115.10M | 7.10M | -30.75M |
| Change in Accounts Payable | -895.00K | -9.01M | 5.96M | -20.40M | 34.33M | 78.44M |
| Change in Unearned Revenue | 85.72M | 112.11M | 34.98M | 61.52M | 135.45M | 18.57M |
| Change in Other Net Operating Assets | -7.46M | -43.73M | -72.16M | -85.53M | -49.47M | -3.10M |
| Operating Cash Flow | 398.64M | 243.35M | 69.40M | -19.66M | 153.59M | 141.34M |
| Capital Expenditures | -39.57M | -52.35M | -83.17M | -289.75M | -1.18B | -805.22M |
| Sale of Property, Plant & Equipment | 48.76M | 318.00M | ||||
| Cash Acquisitions | -10.69M | -9.42M | ||||
| Investment in Securities | -10.05M | -731.00K | -1.58M | 1.06M | ||
| Other Investing Activities | -401.00K | -311.00K | -2.41M | 254.72M | 204.68M | |
| Investing Cash Flow | -39.97M | -3.90M | -106.31M | -45.18M | -653.92M | -804.16M |
| Long-Term Debt Issued | 316.63M | 302.67M | 764.10M | |||
| Total Debt Issued | 135.00M | 316.63M | 302.67M | 764.10M | ||
| Long-Term Debt Repaid | -165.27M | -83.85M | -74.88M | -740.00M | ||
| Total Debt Repaid | -244.77M | -165.27M | -63.22M | -83.85M | -74.88M | -740.00M |
| Net Debt Issued (Repaid) | -109.77M | -165.27M | -63.22M | 232.79M | 227.79M | 24.10M |
| Issuance of Common Stock | 13.49M | 6.49M | 8.83M | 8.83M | ||
| Repurchase of Common Stock | -78.13M | -74.57M | -19.23M | -16.54M | -16.62M | -16.66M |
| Other Financing Activities | -546.00K | -15.34M | -125.63M | -37.83M | ||
| Financing Cash Flow | -174.41M | -233.34M | -74.17M | 209.73M | 85.54M | -30.39M |
| Foreign Exchange Rate Adjustments | -1.17M | -469.00K | -1.12M | -771.00K | -2.11M | -750.00K |
| Net Cash Flow | 183.09M | 5.63M | -112.20M | 144.12M | -416.90M | -693.97M |
| Free Cash Flow | 359.07M | 191.00M | -13.77M | -309.41M | -1.02B | -663.88M |
| Free Cash Flow Margin | 26.46% | 15.65% | -1.22% | -30.13% | -178.00% | -108.82% |
| Free Cash Flow Per Share | 9.98 | 4.22 | -0.39 | -8.77 | -29.24 | -19.38 |
| Levered Free Cash Flow | 442.72M | 336.34M | -51.69M | -1.54B | -622.17M | |
| Unlevered Free Cash Flow | 461.25M | 377.70M | -4.95M | -1.55B | -630.90M | |
| Cash Interest Paid | 46.34M | 79.64M | 104.34M | 100.00M | 71.14M | 19.17M |
| Cash Income Tax Paid | 16.07M | 2.55M | -15.53M | 18.65M | 7.29M | -1.01M |
| Change in Working Capital | 76.16M | 42.24M | -4.69M | -159.51M | 127.41M | 63.17M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 3.76B | 3.36B | 1.44B | 1.24B | 946.57M | 1.80B |
| Enterprise Value | 4.12B | 3.97B | 2.40B | 2.10B | 3.15B | 3.11B |
| Last Close Price | 109.14 | 95.08 | 40.32 | 35.06 | 27.39 | 24.29 |
| PE Ratio | 100.51 | 1.88 | ||||
| Forward PE | 78.30 | 78.30 | 78.30 | 68.08 | 130.96 | |
| PS Ratio | 2.77 | 2.75 | 1.28 | 1.21 | 1.65 | 2.95 |
| PB Ratio | 1.76 | 1.50 | 0.66 | 0.51 | 0.37 | 0.83 |
| P/TBV Ratio | 2.02 | 1.80 | 0.82 | 0.65 | 0.45 | 1.21 |
| P/FCF Ratio | 10.48 | 17.58 | ||||
| P/OCF Ratio | 9.44 | 13.80 | 20.80 | 6.16 | 12.74 | |
| EV/Sales Ratio | 3.04 | 3.26 | 2.12 | 2.04 | 5.49 | 5.10 |
| EV/EBITDA Ratio | 16.21 | 21.80 | 15.81 | 46.84 | ||
| EV/FCF Ratio | 11.49 | 20.80 | ||||
| Debt / Equity Ratio | 0.41 | 0.43 | 0.68 | 0.63 | 0.51 | 0.50 |
| Debt / EBITDA Ratio | 3.33 | 4.76 | 9.80 | 24.47 | ||
| Debt / FCF Ratio | 2.54 | 5.03 | ||||
| Net Debt / Equity Ratio | 0.16 | 0.20 | 0.45 | 0.40 | 0.46 | 0.16 |
| Net Debt / EBITDA Ratio | 1.42 | 2.49 | 6.50 | 21.41 | -5.36 | -2.59 |
| Net Debt / FCF Ratio | 1.01 | 2.38 | -71.69 | -3.10 | -1.16 | -0.51 |
| Asset Turnover | 0.33 | 0.28 | 0.21 | 0.11 | 0.11 | |
| Inventory Turnover | 40.37 | 43.16 | ||||
| Quick Ratio | 1.12 | 0.95 | 0.50 | 0.58 | 0.39 | 0.91 |
| Current Ratio | 1.22 | 1.09 | 0.56 | 0.63 | 0.90 | 1.27 |
| Return on Equity (ROE) | -3.10% | 1.51% | -8.99% | 7.25% | -6.16% | |
| Return on Assets (ROA) | -1.25% | -2.21% | -2.71% | -3.01% | -1.77% | |
| Return on Invested Capital (ROIC) | -3.21% | -3.06% | -5.35% | -5.92% | -5.03% | -5.77% |
| Return on Capital Employed (ROCE) | -2.40% | -4.40% | -5.60% | -6.20% | -5.90% | -3.40% |
| Earnings Yield | -2.04% | 1.00% | -22.52% | -16.20% | 53.12% | -10.80% |
| FCF Yield | 9.54% | 5.69% | -0.95% | -24.98% | -107.91% | -36.88% |
| Buyback Yield / Dilution | 0.14% | -26.97% | -1.06% | -1.06% | -1.97% | -0.01% |