SPHR
Sphere Entertainment Co.
Entertainment
Market Cap$4.92B
5Y Perf.+273.6%
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Stock Comparison
SPHR vs LYV vs MSGE
Revenue, margins, valuation, and 5-year total return — side by side.
LYV
Live Nation Entertainment, Inc.
Entertainment
Market Cap$38.65B
5Y Perf.+238.3%
MSGE
Madison Square Garden Entertainment Corp.
Entertainment
Market Cap$3.15B
5Y Perf.-15.8%
SPHR vs LYV vs MSGE — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | SPHR | LYV | MSGE |
|---|---|---|---|
| Industry | Entertainment | Entertainment | Entertainment |
| Market Cap | $4.92B | $38.65B | $3.15B |
| Revenue (TTM) | $1.33B | $25.61B | $1.16B |
| Net Income (TTM) | $120M | $84M | $42M |
| Gross Margin | 48.3% | 40.3% | 31.5% |
| Operating Margin | -10.6% | 3.4% | 10.1% |
| Forward P/E | — | 115.8x | 56.8x |
| Total Debt | $1.52B | $12.44B | $1.20B |
| Cash & Equiv. | $560M | $7.11B | $43M |
SPHR vs LYV vs MSGE — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
SPHR
LYV
MSGE
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Sphere Entertainmen… (SPHR) | 100 | 373.6 | +273.6% |
| Live Nation Enterta… (LYV) | 100 | 338.3 | +238.3% |
| Madison Square Gard… (MSGE) | 100 | 84.2 | -15.8% |
Price return only. Dividends and distributions are not included.
Quick Verdict: SPHR vs LYV vs MSGE
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: SPHR leads in 4 of 7 categories, making it the strongest pick for growth and revenue expansion and profitability and margin quality. Live Nation Entertainment, Inc. is the stronger pick specifically for capital preservation and lower volatility. As sector peers, any of these can serve as alternatives in the same allocation.
SPHR
Sphere Entertainment Co.
The Growth Play
SPHR carries the broadest edge in this set and is the clearest fit for growth exposure.
- Rev growth 21.6%, EPS growth 0.0%, 3Y rev CAGR 19.0%
- 21.6% revenue growth vs MSGE's -1.7%
- 9.0% margin vs LYV's 0.3%
Best for: growth exposure
LYV
Live Nation Entertainment, Inc.
The Income Pick
LYV is the clearest fit if your priority is income & stability and long-term compounding.
- Dividend streak 1 yrs, beta 0.80
- 6.2% 10Y total return vs SPHR's 234.5%
- Lower volatility, beta 0.80, current ratio 1.00x
Best for: income & stability and long-term compounding
MSGE
Madison Square Garden Entertainment Corp.
The Value Play
MSGE is the clearest fit if your priority is value.
- Lower P/E (56.8x vs 115.8x)
Best for: value
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | SPHR | 21.6% revenue growth vs MSGE's -1.7% |
| Value | MSGE | Lower P/E (56.8x vs 115.8x) |
| Quality / Margins | SPHR | 9.0% margin vs LYV's 0.3% |
| Stability / Safety | LYV | Beta 0.80 vs SPHR's 1.64 |
| Dividends | Tie | None of these 3 stocks pay a meaningful dividend |
| Momentum (1Y) | SPHR | +359.1% vs LYV's +24.0% |
| Efficiency (ROA) | SPHR | 2.9% ROA vs LYV's 0.4%, ROIC -5.0% vs 19.7% |
SPHR vs LYV vs MSGE — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2024
FY 2025
FY 2025
SPHR vs LYV vs MSGE — Financial Metrics
Side-by-side numbers across 3 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLSPHRLAGGINGMSGE
MSGEMadison Square Garden…
1leads
LYVLive Nation Entertain…
1leads
SPHRSphere Entertainment …
2leads
6 Total Categories
CATEGORYLEADERvs LYVvs MSGEMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
SPHR4/6
Valuation MetricsMultiples, price ratios, and targets
LYV3/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
MSGE4/9
Total Returns1Y, 3Y, 5Y total returns with dividends
SPHR5/6
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
—
—
Income & Cash Flow (Last 12 Months)
SPHR leads this category, winning 4 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
LYV is the larger business by revenue, generating $25.6B annually — 22.1x MSGE's $1.2B. SPHR is the more profitable business, keeping 9.0% of every revenue dollar as net income compared to LYV's 0.3%. On growth, MSGE holds the edge at +59.4% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | SPHRSphere Entertainm… | LYVLive Nation Enter… | MSGEMadison Square Ga… |
|---|---|---|---|
| RevenueTrailing 12 months | $1.3B | $25.6B | $1.2B |
| EBITDAEarnings before interest/tax | $196M | $1.6B | $245M |
| Net IncomeAfter-tax profit | $120M | $84M | $42M |
| Free Cash FlowCash after capex | $333M | $1.2B | $289M |
| Gross MarginGross profit ÷ Revenue | +48.3% | +40.3% | +31.5% |
| Operating MarginEBIT ÷ Revenue | -10.6% | +3.4% | +10.1% |
| Net MarginNet income ÷ Revenue | +9.0% | +0.3% | +3.6% |
| FCF MarginFCF ÷ Revenue | +25.2% | +4.8% | +25.0% |
| Rev. Growth (YoY)Latest quarter vs prior year | +37.7% | +12.1% | +59.4% |
| EPS Growth (YoY)Latest quarter vs prior year | +98.0% | -4.8% | -123.5% |
SPHR leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
LYV leads this category, winning 3 of 6 comparable metrics.
Valuation Metrics
On an enterprise value basis, LYV's 19.9x EV/EBITDA is more attractive than SPHR's 175.6x.
| Metric | SPHRSphere Entertainm… | LYVLive Nation Enter… | MSGEMadison Square Ga… |
|---|---|---|---|
| Market CapShares × price | $4.9B | $38.6B | $3.2B |
| Enterprise ValueMkt cap + debt − cash | $5.9B | $44.0B | $4.3B |
| Trailing P/EPrice ÷ TTM EPS | -24.07x | -692.98x | 86.64x |
| Forward P/EPrice ÷ next-FY EPS est. | — | 115.80x | 56.83x |
| PEG RatioP/E ÷ EPS growth rate | — | — | — |
| EV / EBITDAEnterprise value multiple | 175.64x | 19.89x | 23.97x |
| Price / SalesMarket cap ÷ Revenue | 4.79x | 1.53x | 3.35x |
| Price / BookPrice ÷ Book value/share | 2.03x | 21.20x | — |
| Price / FCFMarket cap ÷ FCF | — | 115.84x | 33.88x |
LYV leads this category, winning 3 of 6 comparable metrics.
Profitability & Efficiency
MSGE leads this category, winning 4 of 9 comparable metrics.
Profitability & Efficiency
MSGE delivers a 7.7% return on equity — every $100 of shareholder capital generates $8 in annual profit, vs $4 for LYV. SPHR carries lower financial leverage with a 0.63x debt-to-equity ratio, signaling a more conservative balance sheet compared to LYV's 6.84x. On the Piotroski fundamental quality scale (0–9), MSGE scores 6/9 vs SPHR's 1/9, reflecting solid financial health.
| Metric | SPHRSphere Entertainm… | LYVLive Nation Enter… | MSGEMadison Square Ga… |
|---|---|---|---|
| ROE (TTM)Return on equity | +5.4% | +4.4% | +7.7% |
| ROA (TTM)Return on assets | +2.9% | +0.4% | +1.8% |
| ROICReturn on invested capital | -5.0% | +19.7% | +8.5% |
| ROCEReturn on capital employed | -6.5% | +13.4% | +11.0% |
| Piotroski ScoreFundamental quality 0–9 | 1 | 5 | 6 |
| Debt / EquityFinancial leverage | 0.63x | 6.84x | — |
| Net DebtTotal debt minus cash | $959M | $5.3B | $1.2B |
| Cash & Equiv.Liquid assets | $560M | $7.1B | $43M |
| Total DebtShort + long-term debt | $1.5B | $12.4B | $1.2B |
| Interest CoverageEBIT ÷ Interest expense | 4.10x | 3.68x | 4.43x |
MSGE leads this category, winning 4 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
SPHR leads this category, winning 5 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in SPHR five years ago would be worth $32,765 today (with dividends reinvested), compared to $7,384 for MSGE. Over the past 12 months, SPHR leads with a +359.1% total return vs LYV's +24.0%. The 3-year compound annual growth rate (CAGR) favors SPHR at 63.5% vs MSGE's 24.9% — a key indicator of consistent wealth creation.
| Metric | SPHRSphere Entertainm… | LYVLive Nation Enter… | MSGEMadison Square Ga… |
|---|---|---|---|
| YTD ReturnYear-to-date | +45.0% | +14.5% | +22.8% |
| 1-Year ReturnPast 12 months | +359.1% | +24.0% | +83.6% |
| 3-Year ReturnCumulative with dividends | +336.7% | +113.7% | +94.8% |
| 5-Year ReturnCumulative with dividends | +227.7% | +108.0% | -26.2% |
| 10-Year ReturnCumulative with dividends | +234.5% | +622.5% | -24.6% |
| CAGR (3Y)Annualised 3-year return | +63.5% | +28.8% | +24.9% |
SPHR leads this category, winning 5 of 6 comparable metrics.
Risk & Volatility
Evenly matched — LYV and MSGE each lead in 1 of 2 comparable metrics.
Risk & Volatility
LYV is the less volatile stock with a 0.80 beta — it tends to amplify market swings less than SPHR's 1.64 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | SPHRSphere Entertainm… | LYVLive Nation Enter… | MSGEMadison Square Ga… |
|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.64x | 0.80x | 0.94x |
| 52-Week HighHighest price in past year | $147.40 | $175.25 | $69.86 |
| 52-Week LowLowest price in past year | $29.25 | $125.34 | $35.31 |
| % of 52W HighCurrent price vs 52-week peak | +92.8% | +94.9% | +95.5% |
| RSI (14)Momentum oscillator 0–100 | 64.7 | 63.6 | 67.6 |
| Avg Volume (50D)Average daily shares traded | 729K | 2.8M | 312K |
Evenly matched — LYV and MSGE each lead in 1 of 2 comparable metrics.
Analyst Outlook
Insufficient data to determine a leader in this category.
Analyst Outlook
Analyst consensus: SPHR as "Buy", LYV as "Buy", MSGE as "Buy". Consensus price targets imply 8.8% upside for LYV (target: $181) vs -11.0% for SPHR (target: $122).
| Metric | SPHRSphere Entertainm… | LYVLive Nation Enter… | MSGEMadison Square Ga… |
|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy | Buy |
| Price TargetConsensus 12-month target | $121.67 | $181.00 | $66.29 |
| # AnalystsCovering analysts | 12 | 44 | 12 |
| Dividend YieldAnnual dividend ÷ price | — | — | — |
| Dividend StreakConsecutive years of raises | 1 | 1 | — |
| Dividend / ShareAnnual DPS | — | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | +0.7% | +0.1% | +1.3% |
Insufficient data to determine a leader in this category.
Key Takeaway
SPHR leads in 2 of 6 categories (Income & Cash Flow, Total Returns). LYV leads in 1 (Valuation Metrics). 1 tied.
Best OverallSphere Entertainment Co. (SPHR)Leads 2 of 6 categories
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SPHR vs LYV vs MSGE: Key Questions Answered
10 questions · data-driven answers · updated daily
01Is SPHR or LYV or MSGE a better buy right now?
For growth investors, Live Nation Entertainment, Inc.
(LYV) is the stronger pick with 8. 8% revenue growth year-over-year, versus -1. 7% for Madison Square Garden Entertainment Corp. (MSGE). Madison Square Garden Entertainment Corp. (MSGE) offers the better valuation at 86. 6x trailing P/E (56. 8x forward), making it the more compelling value choice. Analysts rate Sphere Entertainment Co. (SPHR) a "Buy" — based on 12 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — SPHR or LYV or MSGE?
On forward P/E, Madison Square Garden Entertainment Corp.
is actually cheaper at 56. 8x.
03Which is the better long-term investment — SPHR or LYV or MSGE?
Over the past 5 years, Sphere Entertainment Co.
(SPHR) delivered a total return of +227. 7%, compared to -26. 2% for Madison Square Garden Entertainment Corp. (MSGE). Over 10 years, the gap is even starker: LYV returned +622. 5% versus MSGE's -24. 6%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — SPHR or LYV or MSGE?
By beta (market sensitivity over 5 years), Live Nation Entertainment, Inc.
(LYV) is the lower-risk stock at 0. 80β versus Sphere Entertainment Co. 's 1. 64β — meaning SPHR is approximately 107% more volatile than LYV relative to the S&P 500. On balance sheet safety, Sphere Entertainment Co. (SPHR) carries a lower debt/equity ratio of 63% versus 7% for Live Nation Entertainment, Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — SPHR or LYV or MSGE?
By revenue growth (latest reported year), Live Nation Entertainment, Inc.
(LYV) is pulling ahead at 8. 8% versus -1. 7% for Madison Square Garden Entertainment Corp. (MSGE). On earnings-per-share growth, the picture is similar: Sphere Entertainment Co. grew EPS 0. 0% year-over-year, compared to -108. 8% for Live Nation Entertainment, Inc.. Over a 3-year CAGR, SPHR leads at 19. 0% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — SPHR or LYV or MSGE?
Madison Square Garden Entertainment Corp.
(MSGE) is the more profitable company, earning 4. 0% net margin versus -19. 5% for Sphere Entertainment Co. — meaning it keeps 4. 0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: MSGE leads at 13. 0% versus -21. 7% for SPHR. At the gross margin level — before operating expenses — MSGE leads at 43. 2%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is SPHR or LYV or MSGE more undervalued right now?
On forward earnings alone, Madison Square Garden Entertainment Corp.
(MSGE) trades at 56. 8x forward P/E versus 115. 8x for Live Nation Entertainment, Inc. — 59. 0x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for LYV: 8. 8% to $181. 00.
08Which pays a better dividend — SPHR or LYV or MSGE?
None of the stocks in this comparison currently pay a material dividend.
All are effectively zero-yield and should be held for capital appreciation rather than income.
09Is SPHR or LYV or MSGE better for a retirement portfolio?
For long-horizon retirement investors, Live Nation Entertainment, Inc.
(LYV) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 80), +622. 5% 10Y return). Sphere Entertainment Co. (SPHR) carries a higher beta of 1. 64 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (LYV: +622. 5%, SPHR: +234. 5%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between SPHR and LYV and MSGE?
Both stocks operate in the Communication Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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- Sector: Communication Services
- Market Cap > $100B
- Revenue Growth > 6%
- Gross Margin > 24%
- Sector: Communication Services
- Market Cap > $100B
- Revenue Growth > 29%
- Gross Margin > 18%
Revenue Growth>
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