Sphere Entertainment Co. (SPHR)
Sphere Entertainment Co. operates as a live entertainment and media company in the United States. It operates through two segments, Sphere and MSG Networks. The Sphere segment offers entertainment medium powered by technologies to create multi-sensory experiences. The MSG Networks segment provides regional sports and entertainment networks; direct-to-consumer and authenticated streaming products, as well as sports content, including live local games and other programming. The company was formerly known as Madison Square Garden Entertainment Corp. and changed its name to Sphere Entertainment Co. in April 2023. Sphere Entertainment Co. was founded in 2006 and is based in New York, New York.
- Symbol
- SPHR
- Exchange
- NYSE
- Sector
- Communication Services
- Industry
- Entertainment
- Market cap
- $5.13B
- 52 week range
- 57.01 - 181.63
Valuation
- Share price
- $135.89 (close of 2026-09-23)
- P/E (TTM)
- -67.90x
- Price to book
- 2.30x
- Price to free cash flow
- 12.87x
- Enterprise value
- $5.49B
- Book value per share
- $61.63
Price performance
| Period | Change |
|---|
| 1 day | -6.37% |
| 5 days | -5.71% |
| 1 month | -14.19% |
| 3 months | -14.10% |
| 6 months | +22.20% |
| Year to date | +42.92% |
| 1 year | +136.08% |
| 3 years | +272.51% |
| 5 years | +270.38% |
| All time | +232.41% |
Profitability and growth
- Return on equity
- 1.50%
- Return on invested capital
- -8.59%
- Return on assets
- 0.79%
- Return on capital employed
- -6.62%
- Net margin
- 2.74%
- EBITDA margin
- 8.77%
- Revenue growth
- 18.98%
- Net income growth
- 116.65%
- Free cash flow growth
- 1337.90%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 7.77%
- Current ratio
- 1.22x
- Net debt to EBITDA
- 1.89x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- Revenue
- $1.22B
- EBITDA
- $106.85M
- Net income
- $33.41M
- Earnings per share
- $0.93
- Shares outstanding
- 36.07M
Income statement by year
| Period end | Revenue | Gross profit | Net income | EPS |
|---|
| 2025-12-31 | $1.22B | - | $33.41M | $0.93 |
| 2024-06-30 | $1.02B | - | $-200.65M | $-5.68 |
| 2023-06-30 | $571.22M | - | $502.77M | $14.51 |
| 2022-06-30 | $608.15M | $-401.09M | $-194.40M | $-5.77 |
| 2021-06-30 | $789.89M | $355.11M | $-148.15M | $-4.60 |
| 2020-06-30 | $1.44B | $645.52M | $181.73M | $2.41 |
| 2019-06-30 | $1.05B | $378.27M | $-8.22M | $-0.16 |
| 2018-06-30 | $988.99M | $353.77M | $6.90M | $0.13 |
Margins and returns by year
| Period end | Gross margin | Net margin | Return on equity | Return on capital |
|---|
| 2025-12-31 | - | 2.74% | 1.50% | -8.59% |
| 2024-06-30 | - | -19.60% | -8.31% | -6.12% |
| 2023-06-30 | - | 88.02% | 19.46% | -7.24% |
| 2022-06-30 | -65.95% | -31.96% | -9.84% | -5.87% |
| 2021-06-30 | 44.96% | -18.76% | -6.79% | -7.04% |
| 2020-06-30 | 44.95% | 12.66% | 7.90% | 10.14% |
| 2019-06-30 | 36.06% | -0.78% | -0.38% | -4.52% |
| 2018-06-30 | 35.77% | 0.70% | 0.28% | -1.23% |
Cash and debt by year
| Period end | Cash | Debt |
|---|
| 2025-12-31 | $521.26M | $767.44M |
| 2024-06-30 | $573.23M | $522.74M |
| 2023-06-30 | $131.97M | $1.12B |
| 2022-06-30 | $747.31M | $929.53M |
| 2021-06-30 | $1.52B | $1.65B |
| 2020-06-30 | $1.24B | $28.13M |
| 2019-06-30 | $1.19B | $48.56M |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|
| 2025-12-31 | $243.35M | $59.01M |
| 2024-06-30 | $-19.66M | $48.01M |
| 2023-06-30 | $153.59M | $62.66M |
| 2022-06-30 | $-615.38M | $77.14M |
| 2021-06-30 | $-514.70M | $70.58M |
| 2020-06-30 | $-147.12M | $61.42M |
| 2019-06-30 | $-82.60M | $35.40M |
| 2018-06-30 | $-42.98M | $27.29M |
Investor relations
Next earnings report
- Next confirmed report
- 2026-11-03
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|
| 2026-07-30 | Jun/2026 | - |
| 2026-05-05 | - | - |
| 2025-11-04 | - | - |
| 2025-08-11 | - | - |
| 2025-05-08 | - | - |
| 2025-03-03 | - | - |
| 2024-11-12 | - | - |
| 2024-08-20 | - | - |
Filings and sources
- Company website
- sphereentertainmentco.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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Understanding these figures
Price-to-earnings ratio · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart
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