Sphere Entertainment CoSphere Entertainment Co
Sphere Entertainment Co

Sphere Entertainment Co

SPHR
Communication Services·Entertainment

Sphere Entertainment Co. engages in the provision of live entertainment and media services. It operates through the following segments: Sphere and MSG Networks. The Sphere segment engages in deriving revenues primarily from ticket sales and other ticket-related revenues, venue license fees from third-party promoters, sponsorships, signage and Exosphere advertising, suite licenses and food, beverage, and merchandise sales. The MSG Networks segment engages in deriving revenues principally from distribution fees, as well as from the sale of advertising. The company was founded in 2010 and is headquartered in New York, NY.

New York; U.S.A
Market cap
$3.9BNo data
Revenue
$1.2BNo data
Net income
$33.4MNo data
Free cash flow
$243.3MNo data

Market

Listed stock
SPHRPriceNYSE
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Financial performance

Revenue
$1.2BNo data
Operating income
$-229.6MNo data
Net income
$33.4MNo data
Free cash flow
$243.3MNo data

Revenue, profit & cash trend

Revenue
Operating income
Net income
Free cash flow
Reference
Revenue: 2021 $180.4M, 2022 $1.7B, 2023 $573.8M, 2024 $1B, 2025 $1.2B. Operating income: 2021 $-450.2M, 2022 $-102.7M, 2023 $-70.3M, 2024 $-71.4M, 2025 $-229.6M. Net income: 2021 $-377.2M, 2022 $-194.4M, 2023 $502.8M, 2024 $-200.6M, 2025 $33.4M. Free cash flow: 2021 $-706.7M, 2022 $-615.4M, 2023 $153.6M, 2024 $-19.7M, 2025 $243.3M. Reference line: Reference at $0.

Growth & profitability

Revenue growth
18.8%No data
Gross margin
No dataNo data
Operating margin
No dataNo data
FCF margin
No dataNo data

Earnings power over time

Operating income
Net income
Free cash flow
Operating income: 2021-06-30 $-450.2M, 2022-06-30 $-102.7M, 2023-06-30 $-70.3M, 2024-06-30 $-71.4M, 2025-12-31 $-229.6M. Net income: 2021-06-30 $-377.2M, 2022-06-30 $-194.4M, 2023-06-30 $502.8M, 2024-06-30 $-200.6M, 2025-12-31 $33.4M. Free cash flow: 2021-06-30 $-706.7M, 2022-06-30 $-615.4M, 2023-06-30 $153.6M, 2024-06-30 $-19.7M, 2025-12-31 $243.3M

Growth heatmap

2022202320242025CAGR
Revenue
+856.0%
-66.7%
+79.0%
+18.8%
No data
Gross profit
+864.3%
-11.2%
+41.7%
-42.1%
No data
Operating income
+77.2%
+31.5%
-1.5%
-221.6%
No data
Free cash flow
+12.9%
+125.0%
-112.8%
+1337.9%
No data

Earnings quality

Operating cash flow
$243.3MNo data
Net income
$33.4MNo data
Free cash flow
$243.3MNo data
Diluted EPS
No dataNo data

Cash conversion quality

Operating cash flow
Free cash flow
Net income = 100%
Operating cash flow: 2025-12-31 728%, 2024-06-30 10%, 2023-06-30 31%, 2022-06-30 -73%, 2021-06-30 67%. Free cash flow: 2025-12-31 728%, 2024-06-30 10%, 2023-06-30 31%, 2022-06-30 317%, 2021-06-30 187%. Reference line: Net income = 100% at 100%.

Per-share economics

Diluted EPS
Latest
No data
FCF / share
Latest
No data
Diluted shares
Latest
No data

Financial flexibility

Cash & equivalents
No dataNo data
Total debt
No dataNo data
Net debt
No dataNo data
Current ratio
No dataNo data

Cash Coverage of Debt

Cash / Total debt
No data

Returns

Return on equity
No dataNo data
Return on assets
No dataNo data
Return on invested capital
No dataNo data
Asset turnover
No dataNo data

Return on capital

No data

Valuation

Price to earnings
No dataNo data
Price to sales
No dataNo data
EV / EBITDA
No dataNo data
Free cash flow yield
No dataNo data

Valuation vs its own 5Y history

Metric
Own five-year range
Current
Own 5Y median
Position in own range
Price to earnings
No data
No data
No data
No data
Price to sales
No data
No data
No data
No data
EV / EBITDA
No data
No data
No data
No data
Free cash flow yield
No data
No data
No data
No data