Sirius XM Holdings Inc. (SIRI) 10-Year Financial Performance & Capital Metrics

SIRI • • Industrial / General

Communication ServicesEntertainmentMusic & Audio EntertainmentSatellite & Digital Radio

AboutSirius XM Holdings Inc. provides satellite radio services on a subscription fee basis in the United States. It broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres, such as rock, pop and hip-hop, country, dance, jazz, Latin, and classical; live play-by-play sports from various leagues and colleges; various talk and entertainment channels for a range of audiences; national, international, and financial news; and limited run channels. The company also provides streaming service that includes a range of music and non-music channels, and podcasts, as well as channels that are not available on its satellite radio service; and offers applications to allow consumers to access its streaming service on smartphones, tablets, computers, home devices, and other consumer electronic equipment, as well as connected vehicle services. In addition, it distributes satellite radios through automakers and retailers, as well as its website. Further, the company provides location-based services through two-way wireless connectivity, including safety, security, convenience, remote vehicles diagnostic, maintenance and data, and stolen or parked vehicle locator services. Additionally, it offers satellite television services, which offer music channels on the DISH Network satellite television service as a programming package; Travel Link, a suite of data services that include graphical weather, fuel prices, sports schedule and scores, and movie listings; and real-time traffic and weather services. The company was incorporated in 2013 and is headquartered in New York, New York. Sirius XM Holdings Inc. is a subsidiary of Liberty Media Corporation.Show more

Revenue $8.7B -2.8%
EBITDA -$895M -135.2%
Net Income -$1.67B -232.4%
EPS (Diluted) -4.93 -252.2%
Gross Margin 48.29% -1.4%
EBITDA Margin -10.29% -136.2%
Operating Margin -17.44% -180.2%
Net Margin -19.14% -236.2%
ROE -13.77% -153.4%
ROIC -4.99% -152.5%
Debt/Equity 0.94 +7.3%
Interest Coverage -3.06 -166.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Healthy dividend yield of 2.0%
✓Share count reduced 13.1% through buybacks
✓Trading at only 0.6x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y7.6%

5Y2.22%

3Y0.01%

TTM-2.8%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM155.76%

EPS CAGR

10Y-

5Y-

3Y-

TTM150.54%

ROCE

10Y Avg20.7%

5Y Avg14.7%

3Y Avg11.4%

Latest-5.96%

Peer Comparison

Satellite & Digital Radio

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
SIRISirius XM Holdings Inc.	7.04B	20.91	-4.24	-2.84%	11.61%	8.59%	14.39%	0.94

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	4.57B	5.02B	5.42B	5.77B	7.79B	8.04B	8.7B	9B	8.95B	8.7B
Revenue Growth %	0.09%	0.1%	0.08%	0.06%	0.35%	0.03%	0.08%	0.04%	-0.01%	-0.03%
Cost of Goods Sold+	2.38B	2.51B	2.6B	2.78B	3.85B	3.94B	4.29B	4.48B	4.57B	4.5B
COGS % of Revenue	0.52%	0.5%	0.48%	0.48%	0.49%	0.49%	0.49%	0.5%	0.51%	0.52%
Gross Profit+	2.19B	2.51B	2.83B	2.99B	3.94B	4.1B	4.4B	4.52B	4.38B	4.2B
Gross Margin %	0.48%	0.5%	0.52%	0.52%	0.51%	0.51%	0.51%	0.5%	0.49%	0.48%
Gross Profit Growth %	0.06%	0.14%	0.13%	0.06%	0.32%	0.04%	0.07%	0.03%	-0.03%	-0.04%
Operating Expenses+	1.02B	1.08B	1.18B	1.26B	2.29B	3.24B	2.39B	2.48B	2.44B	5.72B
OpEx % of Revenue	0.22%	0.22%	0.22%	0.22%	0.29%	0.4%	0.27%	0.28%	0.27%	0.66%
Selling, General & Admin	678.99M	727.83M	773M	838M	1.46B	1.47B	1.57B	1.6B	1.48B	1.39B
SG&A % of Revenue	0.15%	0.15%	0.14%	0.15%	0.19%	0.18%	0.18%	0.18%	0.17%	0.16%
Research & Development	64.4M	82.15M	112M	123M	280M	263M	265M	285M	322M	296M
R&D % of Revenue	0.01%	0.02%	0.02%	0.02%	0.04%	0.03%	0.03%	0.03%	0.04%	0.03%
Other Operating Expenses	272.21M	268.98M	299M	304M	552M	1.51B	553M	600M	636M	4.03B
Operating Income+	1.18B	1.43B	1.64B	1.73B	1.65B	858M	2.02B	2.04B	1.95B	-1.52B
Operating Margin %	0.26%	0.29%	0.3%	0.3%	0.21%	0.11%	0.23%	0.23%	0.22%	-0.17%
Operating Income Growth %	0.05%	0.22%	0.15%	0.05%	-0.05%	-0.48%	1.35%	0.01%	-0.04%	-1.78%
EBITDA+	1.45B	1.7B	1.94B	2.03B	2.12B	1.42B	2.6B	2.62B	2.54B	-895M
EBITDA Margin %	0.32%	0.34%	0.36%	0.35%	0.27%	0.18%	0.3%	0.29%	0.28%	-0.1%
EBITDA Growth %	0.05%	0.17%	0.14%	0.05%	0.04%	-0.33%	0.83%	0.01%	-0.03%	-1.35%
D&A (Non-Cash Add-back)	272.21M	268.98M	298.6M	300.72M	468M	562M	583M	585M	599M	622M
EBIT	1.19B	1.42B	1.61B	1.77B	1.59B	824M	1.94B	2.03B	1.94B	-1.37B
Net Interest Income+	-299.1M	-331.23M	-346M	-342M	-387M	-394M	-415M	-422M	-423M	-496M
Interest Income	0	0	0	8M	3M	0	0	0	0	0
Interest Expense	299.1M	331.23M	346M	350M	390M	394M	415M	422M	423M	496M
Other Income/Expense	-286.72M	-340.47M	-377M	-306M	-450M	-428M	-489M	-431M	-428M	-348M
Pretax Income+	891.96M	1.09B	1.26B	1.42B	1.2B	430M	1.53B	1.6B	1.52B	-1.86B
Pretax Margin %	0.2%	0.22%	0.23%	0.25%	0.15%	0.05%	0.18%	0.18%	0.17%	-0.21%
Income Tax+	382.24M	345.73M	616M	245M	283M	299M	212M	392M	260M	210M
Effective Tax Rate %	0.57%	0.68%	0.51%	0.83%	0.76%	0.3%	0.86%	0.76%	0.83%	0.89%
Net Income+	509.72M	745.93M	648M	1.18B	914M	131M	1.31B	1.21B	1.26B	-1.67B
Net Margin %	0.11%	0.15%	0.12%	0.2%	0.12%	0.02%	0.15%	0.13%	0.14%	-0.19%
Net Income Growth %	0.03%	0.46%	-0.13%	0.81%	-0.22%	-0.86%	9.03%	-0.08%	0.04%	-2.32%
Net Income (Continuing)	509.72M	745.93M	648M	1.18B	914M	131M	1.31B	1.21B	1.26B	-2.08B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	3.03B	0
EPS (Diluted)+	0.90	1.50	1.40	2.60	2.00	0.30	3.20	3.10	3.24	-4.93
EPS Growth %	0.13%	0.67%	-0.07%	0.86%	-0.23%	-0.85%	9.67%	-0.03%	0.05%	-2.52%
EPS (Basic)	0.90	1.50	1.40	2.60	2.00	0.30	3.20	3.10	3.26	-4.93
Diluted Shares Outstanding	543.52M	496.47M	472.4M	456.07M	461.6M	442.9M	414.3M	399M	388.8M	338M
Basic Shares Outstanding	537.57M	491.7M	463.8M	446.18M	450.1M	433M	406.2M	391.6M	385.8M	338M
Dividend Payout Ratio	-	0.06%	0.29%	0.17%	0.25%	1.81%	0.2%	1.1%	0.05%	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	561.89M	642.65M	470.9M	478M	1B	967M	1.18B	1.04B	1.36B	1.15B
Cash & Short-Term Investments	111.84M	213.94M	69.02M	54M	106M	71M	191M	57M	306M	162M
Cash Only	111.84M	213.94M	69.02M	54M	106M	71M	191M	57M	306M	162M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	234.78M	223.03M	241.73M	232.99M	670M	672M	722M	655M	709M	676M
Days Sales Outstanding	18.75	16.23	16.26	14.74	31.38	30.51	30.3	26.55	28.9	28.36
Inventory	22.3M	20.36M	20.2M	22M	11M	10M	0	0	0	0
Days Inventory Outstanding	3.43	2.97	2.84	2.89	1.04	0.93	-	-	-	-
Other Current Assets	5.94M	6.17M	10.28M	11M	22M	10M	21M	326M	346M	311M
Total Non-Current Assets+	7.48B	7.36B	7.86B	7.7B	10.15B	9.37B	9.09B	8.98B	28.7B	26.37B
Property, Plant & Equipment	1.42B	1.4B	1.46B	1.51B	2.09B	2.06B	1.81B	1.81B	1.79B	2.11B
Fixed Asset Turnover	3.23x	3.59x	3.71x	3.81x	3.73x	3.91x	4.81x	4.96x	5.00x	4.12x
Goodwill	2.21B	2.21B	2.29B	2.29B	3.84B	3.12B	3.15B	3.25B	15.21B	12.39B
Intangible Assets	2.59B	2.54B	2.52B	2.5B	3.47B	3.34B	3.19B	3.05B	10.31B	10.19B
Long-Term Investments	0	8.92M	962.08M	960M	321M	332M	334M	412M	715M	1.04B
Other Non-Current Assets	155.19M	119.1M	118.67M	138M	270M	405M	415M	312M	515M	641M
Total Assets+	8.05B	8B	8.33B	8.17B	11.15B	10.33B	10.27B	10.02B	30.06B	27.52B
Asset Turnover	0.57x	0.63x	0.65x	0.71x	0.70x	0.78x	0.85x	0.90x	0.30x	0.32x
Asset Growth %	-0.04%	-0.01%	0.04%	-0.02%	0.36%	-0.07%	-0.01%	-0.02%	2%	-0.08%
Total Current Liabilities+	2.5B	2.67B	2.82B	2.8B	3.29B	3.17B	2.98B	2.98B	3.95B	2.73B
Accounts Payable	625.31M	713.03M	794.34M	736M	1.15B	1.22B	1.3B	1.25B	1.3B	1.28B
Days Payables Outstanding	96.07	103.85	111.51	96.67	109.01	113.27	110.44	101.63	104.11	104.19
Short-Term Debt	4.76M	5.49M	5.11M	3M	2M	1M	0	196M	1.08B	55M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	2.84M	2.84M	2.84M	4M	4M	0	5M	0	154M	116M
Current Ratio	0.23x	0.24x	0.17x	0.17x	0.30x	0.31x	0.40x	0.35x	0.34x	0.42x
Quick Ratio	0.22x	0.23x	0.16x	0.16x	0.30x	0.30x	0.40x	0.35x	0.34x	0.42x
Cash Conversion Cycle	-73.89	-84.66	-92.41	-79.04	-76.59	-81.84	-	-	-	-
Total Non-Current Liabilities+	5.72B	6.13B	7.03B	7.19B	8.59B	9.45B	9.92B	10.39B	13B	13.72B
Long-Term Debt	5.44B	5.84B	6.74B	6.88B	7.84B	8.5B	8.83B	9.26B	10.07B	10.31B
Capital Lease Obligations	0	0	0	0	456M	419M	362M	320M	292M	0
Deferred Tax Liabilities	6.68M	6.42M	8.17M	47M	70M	266M	478M	565M	2.41B	2.22B
Other Non-Current Liabilities	108.76M	101.51M	107.72M	106M	94M	149M	150M	170M	136M	1.1B
Total Liabilities	8.21B	8.8B	9.85B	9.99B	11.88B	12.62B	12.9B	13.37B	16.95B	16.45B
Total Debt+	5.45B	5.85B	6.75B	6.89B	8.35B	8.97B	9.24B	9.82B	11.49B	10.42B
Net Debt	5.34B	5.63B	6.68B	6.83B	8.24B	8.9B	9.05B	9.77B	11.18B	10.21B
Debt / Equity	-	-	-	-	-	-	-	-	0.88x	0.94x
Debt / EBITDA	3.76x	3.44x	3.48x	3.40x	3.95x	6.31x	3.56x	3.75x	4.51x	-
Net Debt / EBITDA	3.68x	3.31x	3.44x	3.37x	3.90x	6.26x	3.48x	3.73x	4.39x	-
Interest Coverage	3.94x	4.32x	4.74x	4.93x	4.22x	2.18x	4.86x	4.82x	4.60x	-3.06x
Total Equity+	-166.49M	-792.01M	-1.52B	-1.82B	-736M	-2.29B	-2.63B	-3.35B	13.1B	11.07B
Equity Growth %	-1.13%	-3.76%	-0.92%	-0.19%	0.59%	-2.1%	-0.15%	-0.28%	4.91%	-0.15%
Book Value per Share	-0.31	-1.60	-3.23	-3.98	-1.59	-5.16	-6.34	-8.40	33.70	32.76
Total Shareholders' Equity	-166.49M	-792.01M	-1.52B	-1.82B	-736M	-2.29B	-2.63B	-3.35B	10.08B	11.07B
Common Stock	5.15M	4.75M	4.53M	4M	4M	4M	4M	4M	0	0
Retained Earnings	-4.93B	-3.89B	-3.24B	-2.06B	-1.14B	-2.29B	-2.64B	-3.35B	15.35B	11.12B
Treasury Stock	-23.73M	-22.91M	-17.15M	0	0	-19M	-8M	0	0	-1M
Accumulated OCI	-502K	-139K	18.41M	-6M	8M	15M	15M	-4M	7M	-46M
Minority Interest	0	0	0	0	0	0	0	0	3.03B	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	1.24B	1.72B	1.86B	1.88B	2.02B	2.02B	2B	1.98B	1.83B	1.74B
Operating CF Margin %	0.27%	0.34%	0.34%	0.33%	0.26%	0.25%	0.23%	0.22%	0.2%	0.2%
Operating CF Growth %	-0.01%	0.38%	0.08%	0.01%	0.07%	0%	-0.01%	-0.01%	-0.07%	-0.05%
Net Income	509.72M	745.93M	647.91M	1.18B	914M	131M	1.31B	1.21B	786M	-1.67B
Depreciation & Amortization	272.21M	268.98M	298.6M	300.72M	468M	562M	583M	585M	669M	622M
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0
Deferred Taxes	365.5M	323.56M	583.52M	256.57M	259M	238M	131M	202M	-40M	-161M
Other Non-Cash Items	157.42M	202.15M	228.78M	160.51M	397M	1.35B	381M	355M	583M	3.2B
Working Capital Changes	-60.81M	178.61M	96.78M	-13.28M	-21M	-268M	-411M	-379M	-169M	-259M
Change in Receivables	-61.44M	-44.19M	-73.78M	-42.08M	-137M	-36M	-108M	10M	-148M	-128M
Change in Inventory	-2.9M	1.93M	1.87M	-2M	11M	-2M	0	0	0	0
Change in Payables	52.7M	78.92M	41.37M	-20.09M	109M	42M	104M	-71M	98M	19M
Cash from Investing+	-138.86M	-210.12M	-1.15B	-379.28M	-3M	-741M	-200M	-548M	-696M	-970M
Capital Expenditures	-134.89M	-205.83M	-287.97M	-355.7M	-363M	-350M	-388M	-426M	-650M	-728M
CapEx % of Revenue	0.03%	0.04%	0.05%	0.06%	0.05%	0.04%	0.04%	0.05%	0.07%	0.08%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	0	0	0	0	225M	0	-46M	-242M
Cash from Financing+	-1.14B	-1.41B	-853.69M	-1.52B	-1.96B	-1.31B	-1.68B	-1.56B	-1.19B	-916M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	-48.08M	-190M	-201M	-226M	-237M	-268M	-1.34B	-65M	-143M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-54.54M	-42.82M	-92.43M	-119.87M	-139M	-114M	-125M	-153M	252M	-58M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	1.11B	1.51B	1.57B	1.52B	1.65B	1.67B	1.61B	1.55B	1.18B	1.01B
FCF Margin %	0.24%	0.3%	0.29%	0.26%	0.21%	0.21%	0.19%	0.17%	0.13%	0.12%
FCF Growth %	-0.02%	0.36%	0.04%	-0.03%	0.08%	0.01%	-0.03%	-0.04%	-0.24%	-0.14%
FCF per Share	2.04	3.05	3.32	3.34	3.58	3.77	3.89	3.88	3.03	3.00
FCF Conversion (FCF/Net Income)	2.44x	2.30x	2.86x	1.60x	2.21x	15.40x	1.52x	1.63x	1.45x	-1.05x
Interest Paid	269.93M	292.56M	310M	345M	337M	358M	393M	411M	405M	473M
Taxes Paid	12.38M	20.64M	28M	6M	10M	38M	82M	275M	278M	218M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	89.16%	-	-	-	-	-	-	-	25.8%	-13.77%
Return on Invested Capital (ROIC)	16.33%	21.46%	24.63%	25.47%	19.73%	9.12%	23.18%	23.78%	9.51%	-4.99%
Gross Margin	48.01%	50.05%	52.07%	51.85%	50.55%	50.98%	50.63%	50.22%	48.98%	48.29%
Net Margin	11.15%	14.87%	11.94%	20.38%	11.73%	1.63%	15.11%	13.47%	14.05%	-19.14%
Debt / Equity	-	-	-	-	-	-	-	-	0.88x	0.94x
Interest Coverage	3.94x	4.32x	4.74x	4.93x	4.22x	2.18x	4.86x	4.82x	4.60x	-3.06x
FCF Conversion	2.44x	2.30x	2.86x	1.60x	2.21x	15.40x	1.52x	1.63x	1.45x	-1.05x
Revenue Growth	9.3%	9.78%	8.13%	6.38%	35.05%	3.16%	8.16%	3.53%	-0.56%	-2.84%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Subscription and Circulation	-	-	-	-	-	6.87B	6.62B
Subscription and Circulation Growth	-	-	-	-	-	-	-3.64%
Advertising	187.57M	-	-	1M	1M	1.76B	1.77B
Advertising Growth	-	-	-	-	0.00%	175700.00%	0.85%
Equipment Revenue	-	-	-	-	-	-	182M
Equipment Revenue Growth	-	-	-	-	-	-	-
Other Revenue	-	-	-	-	-	136M	128M
Other Revenue Growth	-	-	-	-	-	-	-5.88%
Equipment Products And Services	154.88M	-	-	-	-	193M	-
Equipment Products And Services Growth	-	-	-	-	-	-	-
Sirius XM	-	6.19B	6.34B	-	-	-	-
Sirius XM Growth	-	-	2.51%	-	-	-	-
Pandora	-	1.61B	1.7B	-	-	-	-
Pandora Growth	-	-	5.66%	-	-	-	-
Music Royalties And Other Products And Services	834.44M	-	-	-	-	-	-
Music Royalties And Other Products And Services Growth	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Sirius XM Holdings Inc. (SIRI) reported $8.55B in revenue for fiscal year 2024. This represents a 184% increase from $3.01B in 2011.

Sirius XM Holdings Inc. (SIRI) saw revenue decline by 2.8% over the past year.

Yes, Sirius XM Holdings Inc. (SIRI) is profitable, generating $993.0M in net income for fiscal year 2024 (-19.1% net margin).

Dividend & Returns

Yes, Sirius XM Holdings Inc. (SIRI) pays a dividend with a yield of 2.02%. This makes it attractive for income-focused investors.

Sirius XM Holdings Inc. (SIRI) has a return on equity (ROE) of -13.8%. Negative ROE indicates the company is unprofitable.

Sirius XM Holdings Inc. (SIRI) generated $1.22B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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Sirius XM Holdings Inc. (SIRI) 10-Year Financial Performance & Capital Metrics

SIRI • • Industrial / General

Communication ServicesEntertainmentMusic & Audio EntertainmentSatellite & Digital Radio

Revenue $8.7B -2.8%
EBITDA -$895M -135.2%
Net Income -$1.67B -232.4%
EPS (Diluted) -4.93 -252.2%
Gross Margin 48.29% -1.4%
EBITDA Margin -10.29% -136.2%
Operating Margin -17.44% -180.2%
Net Margin -19.14% -236.2%
ROE -13.77% -153.4%
ROIC -4.99% -152.5%
Debt/Equity 0.94 +7.3%
Interest Coverage -3.06 -166.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Healthy dividend yield of 2.0%
✓Share count reduced 13.1% through buybacks
✓Trading at only 0.6x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y7.6%

5Y2.22%

3Y0.01%

TTM-2.8%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM155.76%

EPS CAGR

10Y-

5Y-

3Y-

TTM150.54%

ROCE

10Y Avg20.7%

5Y Avg14.7%

3Y Avg11.4%

Latest-5.96%

Peer Comparison

Satellite & Digital Radio

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
SIRISirius XM Holdings Inc.	7.04B	20.91	-4.24	-2.84%	11.61%	8.59%	14.39%	0.94

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	4.57B	5.02B	5.42B	5.77B	7.79B	8.04B	8.7B	9B	8.95B	8.7B
Revenue Growth %	0.09%	0.1%	0.08%	0.06%	0.35%	0.03%	0.08%	0.04%	-0.01%	-0.03%
Cost of Goods Sold+	2.38B	2.51B	2.6B	2.78B	3.85B	3.94B	4.29B	4.48B	4.57B	4.5B
COGS % of Revenue	0.52%	0.5%	0.48%	0.48%	0.49%	0.49%	0.49%	0.5%	0.51%	0.52%
Gross Profit+	2.19B	2.51B	2.83B	2.99B	3.94B	4.1B	4.4B	4.52B	4.38B	4.2B
Gross Margin %	0.48%	0.5%	0.52%	0.52%	0.51%	0.51%	0.51%	0.5%	0.49%	0.48%
Gross Profit Growth %	0.06%	0.14%	0.13%	0.06%	0.32%	0.04%	0.07%	0.03%	-0.03%	-0.04%
Operating Expenses+	1.02B	1.08B	1.18B	1.26B	2.29B	3.24B	2.39B	2.48B	2.44B	5.72B
OpEx % of Revenue	0.22%	0.22%	0.22%	0.22%	0.29%	0.4%	0.27%	0.28%	0.27%	0.66%
Selling, General & Admin	678.99M	727.83M	773M	838M	1.46B	1.47B	1.57B	1.6B	1.48B	1.39B
SG&A % of Revenue	0.15%	0.15%	0.14%	0.15%	0.19%	0.18%	0.18%	0.18%	0.17%	0.16%
Research & Development	64.4M	82.15M	112M	123M	280M	263M	265M	285M	322M	296M
R&D % of Revenue	0.01%	0.02%	0.02%	0.02%	0.04%	0.03%	0.03%	0.03%	0.04%	0.03%
Other Operating Expenses	272.21M	268.98M	299M	304M	552M	1.51B	553M	600M	636M	4.03B
Operating Income+	1.18B	1.43B	1.64B	1.73B	1.65B	858M	2.02B	2.04B	1.95B	-1.52B
Operating Margin %	0.26%	0.29%	0.3%	0.3%	0.21%	0.11%	0.23%	0.23%	0.22%	-0.17%
Operating Income Growth %	0.05%	0.22%	0.15%	0.05%	-0.05%	-0.48%	1.35%	0.01%	-0.04%	-1.78%
EBITDA+	1.45B	1.7B	1.94B	2.03B	2.12B	1.42B	2.6B	2.62B	2.54B	-895M
EBITDA Margin %	0.32%	0.34%	0.36%	0.35%	0.27%	0.18%	0.3%	0.29%	0.28%	-0.1%
EBITDA Growth %	0.05%	0.17%	0.14%	0.05%	0.04%	-0.33%	0.83%	0.01%	-0.03%	-1.35%
D&A (Non-Cash Add-back)	272.21M	268.98M	298.6M	300.72M	468M	562M	583M	585M	599M	622M
EBIT	1.19B	1.42B	1.61B	1.77B	1.59B	824M	1.94B	2.03B	1.94B	-1.37B
Net Interest Income+	-299.1M	-331.23M	-346M	-342M	-387M	-394M	-415M	-422M	-423M	-496M
Interest Income	0	0	0	8M	3M	0	0	0	0	0
Interest Expense	299.1M	331.23M	346M	350M	390M	394M	415M	422M	423M	496M
Other Income/Expense	-286.72M	-340.47M	-377M	-306M	-450M	-428M	-489M	-431M	-428M	-348M
Pretax Income+	891.96M	1.09B	1.26B	1.42B	1.2B	430M	1.53B	1.6B	1.52B	-1.86B
Pretax Margin %	0.2%	0.22%	0.23%	0.25%	0.15%	0.05%	0.18%	0.18%	0.17%	-0.21%
Income Tax+	382.24M	345.73M	616M	245M	283M	299M	212M	392M	260M	210M
Effective Tax Rate %	0.57%	0.68%	0.51%	0.83%	0.76%	0.3%	0.86%	0.76%	0.83%	0.89%
Net Income+	509.72M	745.93M	648M	1.18B	914M	131M	1.31B	1.21B	1.26B	-1.67B
Net Margin %	0.11%	0.15%	0.12%	0.2%	0.12%	0.02%	0.15%	0.13%	0.14%	-0.19%
Net Income Growth %	0.03%	0.46%	-0.13%	0.81%	-0.22%	-0.86%	9.03%	-0.08%	0.04%	-2.32%
Net Income (Continuing)	509.72M	745.93M	648M	1.18B	914M	131M	1.31B	1.21B	1.26B	-2.08B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	3.03B	0
EPS (Diluted)+	0.90	1.50	1.40	2.60	2.00	0.30	3.20	3.10	3.24	-4.93
EPS Growth %	0.13%	0.67%	-0.07%	0.86%	-0.23%	-0.85%	9.67%	-0.03%	0.05%	-2.52%
EPS (Basic)	0.90	1.50	1.40	2.60	2.00	0.30	3.20	3.10	3.26	-4.93
Diluted Shares Outstanding	543.52M	496.47M	472.4M	456.07M	461.6M	442.9M	414.3M	399M	388.8M	338M
Basic Shares Outstanding	537.57M	491.7M	463.8M	446.18M	450.1M	433M	406.2M	391.6M	385.8M	338M
Dividend Payout Ratio	-	0.06%	0.29%	0.17%	0.25%	1.81%	0.2%	1.1%	0.05%	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	561.89M	642.65M	470.9M	478M	1B	967M	1.18B	1.04B	1.36B	1.15B
Cash & Short-Term Investments	111.84M	213.94M	69.02M	54M	106M	71M	191M	57M	306M	162M
Cash Only	111.84M	213.94M	69.02M	54M	106M	71M	191M	57M	306M	162M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	234.78M	223.03M	241.73M	232.99M	670M	672M	722M	655M	709M	676M
Days Sales Outstanding	18.75	16.23	16.26	14.74	31.38	30.51	30.3	26.55	28.9	28.36
Inventory	22.3M	20.36M	20.2M	22M	11M	10M	0	0	0	0
Days Inventory Outstanding	3.43	2.97	2.84	2.89	1.04	0.93	-	-	-	-
Other Current Assets	5.94M	6.17M	10.28M	11M	22M	10M	21M	326M	346M	311M
Total Non-Current Assets+	7.48B	7.36B	7.86B	7.7B	10.15B	9.37B	9.09B	8.98B	28.7B	26.37B
Property, Plant & Equipment	1.42B	1.4B	1.46B	1.51B	2.09B	2.06B	1.81B	1.81B	1.79B	2.11B
Fixed Asset Turnover	3.23x	3.59x	3.71x	3.81x	3.73x	3.91x	4.81x	4.96x	5.00x	4.12x
Goodwill	2.21B	2.21B	2.29B	2.29B	3.84B	3.12B	3.15B	3.25B	15.21B	12.39B
Intangible Assets	2.59B	2.54B	2.52B	2.5B	3.47B	3.34B	3.19B	3.05B	10.31B	10.19B
Long-Term Investments	0	8.92M	962.08M	960M	321M	332M	334M	412M	715M	1.04B
Other Non-Current Assets	155.19M	119.1M	118.67M	138M	270M	405M	415M	312M	515M	641M
Total Assets+	8.05B	8B	8.33B	8.17B	11.15B	10.33B	10.27B	10.02B	30.06B	27.52B
Asset Turnover	0.57x	0.63x	0.65x	0.71x	0.70x	0.78x	0.85x	0.90x	0.30x	0.32x
Asset Growth %	-0.04%	-0.01%	0.04%	-0.02%	0.36%	-0.07%	-0.01%	-0.02%	2%	-0.08%
Total Current Liabilities+	2.5B	2.67B	2.82B	2.8B	3.29B	3.17B	2.98B	2.98B	3.95B	2.73B
Accounts Payable	625.31M	713.03M	794.34M	736M	1.15B	1.22B	1.3B	1.25B	1.3B	1.28B
Days Payables Outstanding	96.07	103.85	111.51	96.67	109.01	113.27	110.44	101.63	104.11	104.19
Short-Term Debt	4.76M	5.49M	5.11M	3M	2M	1M	0	196M	1.08B	55M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	2.84M	2.84M	2.84M	4M	4M	0	5M	0	154M	116M
Current Ratio	0.23x	0.24x	0.17x	0.17x	0.30x	0.31x	0.40x	0.35x	0.34x	0.42x
Quick Ratio	0.22x	0.23x	0.16x	0.16x	0.30x	0.30x	0.40x	0.35x	0.34x	0.42x
Cash Conversion Cycle	-73.89	-84.66	-92.41	-79.04	-76.59	-81.84	-	-	-	-
Total Non-Current Liabilities+	5.72B	6.13B	7.03B	7.19B	8.59B	9.45B	9.92B	10.39B	13B	13.72B
Long-Term Debt	5.44B	5.84B	6.74B	6.88B	7.84B	8.5B	8.83B	9.26B	10.07B	10.31B
Capital Lease Obligations	0	0	0	0	456M	419M	362M	320M	292M	0
Deferred Tax Liabilities	6.68M	6.42M	8.17M	47M	70M	266M	478M	565M	2.41B	2.22B
Other Non-Current Liabilities	108.76M	101.51M	107.72M	106M	94M	149M	150M	170M	136M	1.1B
Total Liabilities	8.21B	8.8B	9.85B	9.99B	11.88B	12.62B	12.9B	13.37B	16.95B	16.45B
Total Debt+	5.45B	5.85B	6.75B	6.89B	8.35B	8.97B	9.24B	9.82B	11.49B	10.42B
Net Debt	5.34B	5.63B	6.68B	6.83B	8.24B	8.9B	9.05B	9.77B	11.18B	10.21B
Debt / Equity	-	-	-	-	-	-	-	-	0.88x	0.94x
Debt / EBITDA	3.76x	3.44x	3.48x	3.40x	3.95x	6.31x	3.56x	3.75x	4.51x	-
Net Debt / EBITDA	3.68x	3.31x	3.44x	3.37x	3.90x	6.26x	3.48x	3.73x	4.39x	-
Interest Coverage	3.94x	4.32x	4.74x	4.93x	4.22x	2.18x	4.86x	4.82x	4.60x	-3.06x
Total Equity+	-166.49M	-792.01M	-1.52B	-1.82B	-736M	-2.29B	-2.63B	-3.35B	13.1B	11.07B
Equity Growth %	-1.13%	-3.76%	-0.92%	-0.19%	0.59%	-2.1%	-0.15%	-0.28%	4.91%	-0.15%
Book Value per Share	-0.31	-1.60	-3.23	-3.98	-1.59	-5.16	-6.34	-8.40	33.70	32.76
Total Shareholders' Equity	-166.49M	-792.01M	-1.52B	-1.82B	-736M	-2.29B	-2.63B	-3.35B	10.08B	11.07B
Common Stock	5.15M	4.75M	4.53M	4M	4M	4M	4M	4M	0	0
Retained Earnings	-4.93B	-3.89B	-3.24B	-2.06B	-1.14B	-2.29B	-2.64B	-3.35B	15.35B	11.12B
Treasury Stock	-23.73M	-22.91M	-17.15M	0	0	-19M	-8M	0	0	-1M
Accumulated OCI	-502K	-139K	18.41M	-6M	8M	15M	15M	-4M	7M	-46M
Minority Interest	0	0	0	0	0	0	0	0	3.03B	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	1.24B	1.72B	1.86B	1.88B	2.02B	2.02B	2B	1.98B	1.83B	1.74B
Operating CF Margin %	0.27%	0.34%	0.34%	0.33%	0.26%	0.25%	0.23%	0.22%	0.2%	0.2%
Operating CF Growth %	-0.01%	0.38%	0.08%	0.01%	0.07%	0%	-0.01%	-0.01%	-0.07%	-0.05%
Net Income	509.72M	745.93M	647.91M	1.18B	914M	131M	1.31B	1.21B	786M	-1.67B
Depreciation & Amortization	272.21M	268.98M	298.6M	300.72M	468M	562M	583M	585M	669M	622M
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0
Deferred Taxes	365.5M	323.56M	583.52M	256.57M	259M	238M	131M	202M	-40M	-161M
Other Non-Cash Items	157.42M	202.15M	228.78M	160.51M	397M	1.35B	381M	355M	583M	3.2B
Working Capital Changes	-60.81M	178.61M	96.78M	-13.28M	-21M	-268M	-411M	-379M	-169M	-259M
Change in Receivables	-61.44M	-44.19M	-73.78M	-42.08M	-137M	-36M	-108M	10M	-148M	-128M
Change in Inventory	-2.9M	1.93M	1.87M	-2M	11M	-2M	0	0	0	0
Change in Payables	52.7M	78.92M	41.37M	-20.09M	109M	42M	104M	-71M	98M	19M
Cash from Investing+	-138.86M	-210.12M	-1.15B	-379.28M	-3M	-741M	-200M	-548M	-696M	-970M
Capital Expenditures	-134.89M	-205.83M	-287.97M	-355.7M	-363M	-350M	-388M	-426M	-650M	-728M
CapEx % of Revenue	0.03%	0.04%	0.05%	0.06%	0.05%	0.04%	0.04%	0.05%	0.07%	0.08%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	0	0	0	0	225M	0	-46M	-242M
Cash from Financing+	-1.14B	-1.41B	-853.69M	-1.52B	-1.96B	-1.31B	-1.68B	-1.56B	-1.19B	-916M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	-48.08M	-190M	-201M	-226M	-237M	-268M	-1.34B	-65M	-143M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-54.54M	-42.82M	-92.43M	-119.87M	-139M	-114M	-125M	-153M	252M	-58M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	1.11B	1.51B	1.57B	1.52B	1.65B	1.67B	1.61B	1.55B	1.18B	1.01B
FCF Margin %	0.24%	0.3%	0.29%	0.26%	0.21%	0.21%	0.19%	0.17%	0.13%	0.12%
FCF Growth %	-0.02%	0.36%	0.04%	-0.03%	0.08%	0.01%	-0.03%	-0.04%	-0.24%	-0.14%
FCF per Share	2.04	3.05	3.32	3.34	3.58	3.77	3.89	3.88	3.03	3.00
FCF Conversion (FCF/Net Income)	2.44x	2.30x	2.86x	1.60x	2.21x	15.40x	1.52x	1.63x	1.45x	-1.05x
Interest Paid	269.93M	292.56M	310M	345M	337M	358M	393M	411M	405M	473M
Taxes Paid	12.38M	20.64M	28M	6M	10M	38M	82M	275M	278M	218M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	89.16%	-	-	-	-	-	-	-	25.8%	-13.77%
Return on Invested Capital (ROIC)	16.33%	21.46%	24.63%	25.47%	19.73%	9.12%	23.18%	23.78%	9.51%	-4.99%
Gross Margin	48.01%	50.05%	52.07%	51.85%	50.55%	50.98%	50.63%	50.22%	48.98%	48.29%
Net Margin	11.15%	14.87%	11.94%	20.38%	11.73%	1.63%	15.11%	13.47%	14.05%	-19.14%
Debt / Equity	-	-	-	-	-	-	-	-	0.88x	0.94x
Interest Coverage	3.94x	4.32x	4.74x	4.93x	4.22x	2.18x	4.86x	4.82x	4.60x	-3.06x
FCF Conversion	2.44x	2.30x	2.86x	1.60x	2.21x	15.40x	1.52x	1.63x	1.45x	-1.05x
Revenue Growth	9.3%	9.78%	8.13%	6.38%	35.05%	3.16%	8.16%	3.53%	-0.56%	-2.84%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Subscription and Circulation	-	-	-	-	-	6.87B	6.62B
Subscription and Circulation Growth	-	-	-	-	-	-	-3.64%
Advertising	187.57M	-	-	1M	1M	1.76B	1.77B
Advertising Growth	-	-	-	-	0.00%	175700.00%	0.85%
Equipment Revenue	-	-	-	-	-	-	182M
Equipment Revenue Growth	-	-	-	-	-	-	-
Other Revenue	-	-	-	-	-	136M	128M
Other Revenue Growth	-	-	-	-	-	-	-5.88%
Equipment Products And Services	154.88M	-	-	-	-	193M	-
Equipment Products And Services Growth	-	-	-	-	-	-	-
Sirius XM	-	6.19B	6.34B	-	-	-	-
Sirius XM Growth	-	-	2.51%	-	-	-	-
Pandora	-	1.61B	1.7B	-	-	-	-
Pandora Growth	-	-	5.66%	-	-	-	-
Music Royalties And Other Products And Services	834.44M	-	-	-	-	-	-
Music Royalties And Other Products And Services Growth	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Sirius XM Holdings Inc. (SIRI) reported $8.55B in revenue for fiscal year 2024. This represents a 184% increase from $3.01B in 2011.

Sirius XM Holdings Inc. (SIRI) saw revenue decline by 2.8% over the past year.

Yes, Sirius XM Holdings Inc. (SIRI) is profitable, generating $993.0M in net income for fiscal year 2024 (-19.1% net margin).

Dividend & Returns

Yes, Sirius XM Holdings Inc. (SIRI) pays a dividend with a yield of 2.02%. This makes it attractive for income-focused investors.

Sirius XM Holdings Inc. (SIRI) has a return on equity (ROE) of -13.8%. Negative ROE indicates the company is unprofitable.

Sirius XM Holdings Inc. (SIRI) generated $1.22B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.