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Sonos, Inc. (SONO) 10-Year Financial Performance & Capital Metrics

SONO • • Industrial / General
TechnologyConsumer ElectronicsAudio & Entertainment ElectronicsHome Audio Systems
AboutSonos, Inc., together with its subsidiaries, designs, develops, manufactures, and sells multi-room audio products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides wireless speakers, home theater speakers, components, and accessories. It offers its products through approximately 10,000 third-party retail stores, including custom installers of home audio systems; and e-commerce retailers, as well as through its Website sonos.com. The company was formerly known as Rincon Audio, Inc. and changed its name to Sonos, Inc. in May 2004. Sonos, Inc. was incorporated in 2002 and is headquartered in Santa Barbara, California.Show more
  • Revenue $1.44B -4.9%
  • EBITDA $12M +173.6%
  • Net Income -$61M -60.3%
  • EPS (Diluted) -0.51 -64.5%
  • Gross Margin 43.69% -3.8%
  • EBITDA Margin 0.82% +187.8%
  • Operating Margin -3.5% -10.5%
  • Net Margin -4.24% -68.6%
  • ROE -15.6% -93.7%
  • ROIC -13.59% -27.8%
  • Debt/Equity 0.15 +0.2%
  • Interest Coverage -108.53 +0.4%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Momentum leader: RS Rating 81 (top 19%)
  • ✓Share count reduced 2.0% through buybacks
  • ✓Efficient asset utilization: 1.8x turnover

✗Weaknesses

  • ✗Thin 5Y average net margin of 1.1%

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y1.7%
3Y-6.26%
TTM-4.93%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM-60.29%

EPS CAGR

10Y-
5Y-
3Y-
TTM-56.57%

ROCE

10Y Avg-2.37%
5Y Avg4.22%
3Y Avg-7.02%
Latest-9.89%

Peer Comparison

Home Audio Systems
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
SONOSonos, Inc.1.92B15.93-31.24-4.93%-4.24%-17.21%5.65%0.15

Profit & Loss

Sep 2016Sep 2017Sep 2018Sep 2019Sep 2020Sep 2021Sep 2022Sep 2023Sep 2024Sep 2025
Sales/Revenue+901.28M992.53M1.14B1.26B1.33B1.72B1.75B1.66B1.52B1.44B
Revenue Growth %-0.1%0.15%0.11%0.05%0.29%0.02%-0.06%-0.08%-0.05%
Cost of Goods Sold+497.88M536.46M647.7M733.48M754.37M906.75M955.97M938.76M828.68M812.75M
COGS % of Revenue0.55%0.54%0.57%0.58%0.57%0.53%0.55%0.57%0.55%0.56%
Gross Profit+403.4M456.06M489.31M527.34M571.96M809.99M796.37M716.49M689.37M630.53M
Gross Margin %0.45%0.46%0.43%0.42%0.43%0.47%0.45%0.43%0.45%0.44%
Gross Profit Growth %-0.13%0.07%0.08%0.08%0.42%-0.02%-0.1%-0.04%-0.09%
Operating Expenses+434.27M471.67M498.18M521.64M599.19M655.03M706.84M737.04M737.42M681M
OpEx % of Revenue0.48%0.48%0.44%0.41%0.45%0.38%0.4%0.45%0.49%0.47%
Selling, General & Admin326.54M347.28M356.07M350.47M384.52M424.95M450.76M426.94M426.75M378.13M
SG&A % of Revenue0.36%0.35%0.31%0.28%0.29%0.25%0.26%0.26%0.28%0.26%
Research & Development107.73M124.39M142.11M171.17M214.67M230.08M256.07M301M304.56M279.97M
R&D % of Revenue0.12%0.13%0.12%0.14%0.16%0.13%0.15%0.18%0.2%0.19%
Other Operating Expenses-2.21M3.36M-1.16M00009.09M6.11M22.9M
Operating Income+-30.87M-15.61M-8.88M1.42M-27.23M154.96M89.53M-20.55M-48.05M-50.47M
Operating Margin %-0.03%-0.02%-0.01%0%-0.02%0.09%0.05%-0.01%-0.03%-0.03%
Operating Income Growth %-0.49%0.43%1.16%-20.14%6.69%-0.42%-1.23%-1.34%-0.05%
EBITDA+3.45M19.41M30.48M37.84M9.19M188.85M128.04M28.42M4.33M11.85M
EBITDA Margin %0%0.02%0.03%0.03%0.01%0.11%0.07%0.02%0%0.01%
EBITDA Growth %-4.62%0.57%0.24%-0.76%19.54%-0.32%-0.78%-0.85%1.74%
D&A (Non-Cash Add-back)34.32M35.01M39.36M36.41M36.43M33.88M38.5M48.97M52.38M62.32M
EBIT-33.08M-12.25M-9.31M5.7M-18.6M157.52M69.28M5.13M-26.71M-50.03M
Net Interest Income+-2.49M-4.26M-4.51M1.85M511K-446K1.1M9.47M11.52M6.47M
Interest Income0004.35M2M146K1.66M10.2M11.96M6.93M
Interest Expense2.49M4.26M4.51M2.5M1.49M592K552K733K441K465K
Other Income/Expense-4.7M-899K-5.67M-6.78M7.15M1.96M-20.8M24.94M20.89M-29K
Pretax Income+-35.57M-16.51M-14.55M-1.08M-20.08M156.93M68.73M4.39M-27.15M-50.5M
Pretax Margin %-0.04%-0.02%-0.01%-0%-0.02%0.09%0.04%0%-0.02%-0.03%
Income Tax+2.64M-2.29M1.06M3.69M32K-1.67M1.35M14.67M10.99M10.65M
Effective Tax Rate %1.07%0.86%1.07%4.43%1%1.01%0.98%-2.34%1.4%1.21%
Net Income+-38.21M-14.22M-15.6M-4.77M-20.11M158.59M67.38M-10.27M-38.15M-61.14M
Net Margin %-0.04%-0.01%-0.01%-0%-0.02%0.09%0.04%-0.01%-0.03%-0.04%
Net Income Growth %-0.63%-0.1%0.69%-3.22%8.88%-0.58%-1.15%-2.71%-0.6%
Net Income (Continuing)-38.21M-14.22M-15.6M-4.77M-20.11M158.59M67.38M-10.27M-38.15M-61.14M
Discontinued Operations0000000000
Minority Interest0000000000
EPS (Diluted)+-0.36-0.13-0.15-0.05-0.181.130.49-0.08-0.31-0.51
EPS Growth %-0.64%-0.15%0.69%-2.92%7.28%-0.57%-1.16%-2.85%-0.65%
EPS (Basic)-0.42-0.16-0.16-0.05-0.181.300.53-0.08-0.31-0.51
Diluted Shares Outstanding105.85M105.85M105.24M103.78M109.81M140.31M137.76M127.7M123.22M120.75M
Basic Shares Outstanding91.67M91.67M99.27M103.78M109.81M122.25M127.69M127.7M123.22M120.75M
Dividend Payout Ratio----------

Balance Sheet

Sep 2016Sep 2017Sep 2018Sep 2019Sep 2020Sep 2021Sep 2022Sep 2023Sep 2024Sep 2025
Total Current Assets+183.4M301.47M497.6M679.11M660.38M957.51M867.39M659.63M551.09M504.04M
Cash & Short-Term Investments74.91M130.59M220.93M338.64M407.1M640.1M274.86M220.23M221.16M227.53M
Cash Only74.91M130.59M220.93M338.64M407.1M640.1M274.86M220.23M169.73M174.67M
Short-Term Investments0000000051.43M52.86M
Accounts Receivable45.31M47.36M73.21M102.74M54.94M100.78M101.21M67.58M44.51M65.85M
Days Sales Outstanding18.3517.4223.529.7415.1221.4321.0814.910.716.65
Inventory53.56M113.86M193.19M219.78M180.83M185.13M454.29M346.52M231.5M171.02M
Days Inventory Outstanding39.2777.47108.87109.3787.4974.52173.45134.73101.9776.8
Other Current Assets9.62M193K190K179K191K037.04M053.91M39.64M
Total Non-Current Assets+95.48M98.55M89.9M82.5M155.67M181.29M321M342.61M365.23M319.24M
Property, Plant & Equipment90.39M95.13M85.37M78.14M103.13M105.18M114.5M135.99M152.32M117.57M
Fixed Asset Turnover9.97x10.43x13.32x16.14x12.86x16.32x15.30x12.17x9.97x12.28x
Goodwill1M1M01M15.54M15.54M77.3M80.42M82.85M82.85M
Intangible Assets00013K26.39M24.45M91.06M90.01M88.04M75.36M
Long-Term Investments-1M-1M0-1.02M000000
Other Non-Current Assets2.54M2.31M3.59M3.2M8.81M26.09M36.63M16.53M31.7M32.95M
Total Assets+278.88M400.02M587.5M761.61M816.05M1.14B1.19B1B916.31M823.28M
Asset Turnover3.23x2.48x1.94x1.66x1.63x1.51x1.47x1.65x1.66x1.75x
Asset Growth %-0.43%0.47%0.3%0.07%0.4%0.04%-0.16%-0.09%-0.1%
Total Current Liabilities+151.54M223.27M296.36M402.47M393.01M476.13M535.64M354.22M366.15M352.41M
Accounts Payable77.87M114.49M195.16M251.94M250.33M215M335.76M187.98M194.59M184.11M
Days Payables Outstanding57.0977.9109.98125.37121.1286.54128.273.0985.7182.68
Short-Term Debt006.67M8.33M6.67M00000
Deferred Revenue (Current)1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Liabilities31.63M8.5M45.37M83.02M59.04M119.91M131.33M111.41M54.43M125.2M
Current Ratio1.21x1.35x1.68x1.69x1.68x2.01x1.62x1.86x1.51x1.43x
Quick Ratio0.86x0.84x1.03x1.14x1.22x1.62x0.77x0.88x0.87x0.94x
Cash Conversion Cycle0.5316.9822.413.74-18.519.466.3476.5426.9610.77
Total Non-Current Liabilities+156.13M176.73M82.78M78.2M125.2M93.63M92.24M129.37M121.54M115.64M
Long-Term Debt24.5M39.6M33.1M24.84M18.25M00000
Capital Lease Obligations000050.36M33.96M25.6M54.96M56.59M53.29M
Deferred Tax Liabilities90.34M90.34M002.43M2.39M9.64M9.85M60K126K
Other Non-Current Liabilities102.84M12.14M10.33M10.57M7.07M3.65M846K3.91M3.82M2.77M
Total Liabilities307.67M399.99M379.14M480.68M518.21M569.76M627.88M483.58M487.69M468.05M
Total Debt+24.5M39.6M39.76M33.17M86.19M44.68M36.13M56.11M64.14M53.29M
Net Debt-50.41M-91M-181.17M-305.47M-320.91M-595.42M-238.73M-164.12M-105.59M-121.38M
Debt / Equity-1466.67x0.19x0.12x0.29x0.08x0.06x0.11x0.15x0.15x
Debt / EBITDA7.10x2.04x1.30x0.88x9.38x0.24x0.28x1.97x14.81x4.50x
Net Debt / EBITDA-14.61x-4.69x-5.94x-8.07x-34.91x-3.15x-1.86x-5.77x-24.38x-10.24x
Interest Coverage-12.40x-3.66x-1.97x0.57x-18.31x261.76x162.20x-28.03x-108.95x-108.53x
Total Equity+-28.79M27K208.36M280.93M297.84M569.04M560.51M518.66M428.62M355.23M
Equity Growth %-1%7715.96%0.35%0.06%0.91%-0.01%-0.07%-0.17%-0.17%
Book Value per Share-0.270.001.982.712.714.064.074.063.482.94
Total Shareholders' Equity-28.79M27K208.36M280.93M297.84M569.04M560.51M518.66M428.62M355.23M
Common Stock55K59K101K110K114K129K130K130K123K123K
Retained Earnings-173.79M-188.01M-203.61M-208.38M-228.49M-69.9M-2.51M-12.79M-50.93M-112.08M
Treasury Stock-145K-10.16M-11.07M-13.5M-20.89M-50.28M-50.9M-72.59M-17.1M-37.4M
Accumulated OCI321K-2.17M-1.68M-64K-1.89M-1.38M-3.6M-3.44M-1.72M1.8M
Minority Interest0000000000

Cash Flow

Sep 2016Sep 2017Sep 2018Sep 2019Sep 2020Sep 2021Sep 2022Sep 2023Sep 2024Sep 2025
Cash from Operations+43.29M63.96M30.57M120.64M161.99M253.23M-28.26M100.41M189.91M136.87M
Operating CF Margin %0.05%0.06%0.03%0.1%0.12%0.15%-0.02%0.06%0.13%0.09%
Operating CF Growth %-0.48%-0.52%2.95%0.34%0.56%-1.11%4.55%0.89%-0.28%
Net Income-38.21M-14.22M-15.6M-4.77M-20.11M158.59M67.38M-10.27M-38.15M-61.14M
Depreciation & Amortization34.32M35.01M39.36M36.41M36.43M33.88M38.5M48.97M52.38M62.32M
Stock-Based Compensation25.96M36.55M38.65M46.58M57.61M62.13M75.64M76.86M84.29M81.56M
Deferred Taxes-857K1.44M152K-268K-567K-8.33M-1.51M-583K-18.92M8K
Other Non-Cash Items4.88M-2.85M2.62M6.75M15.74M4.39M21.76M24.37M7.52M26.18M
Working Capital Changes17.2M8.03M-34.6M35.93M72.89M2.56M-230.03M-38.94M102.78M27.94M
Change in Receivables-4.59M-2.73M-26.5M-32.08M49.59M-45.7M-5.51M32.12M23.04M-21.87M
Change in Inventory5.88M-60.27M-80.11M-31.8M38.01M-7.91M-277.49M87M106.12M51.73M
Change in Payables5.26M56.49M64.82M85.41M-20.55M-4.87M129.69M-162.34M-789K-14.44M
Cash from Investing+-52.52M-33.55M-35.75M-23.22M-69.32M-45.53M-172.63M-50.29M-105.24M-29.52M
Capital Expenditures-52.52M-33.55M-35.75M-23.22M-33.03M-45.53M-46.22M-50.29M-55.25M-28.68M
CapEx % of Revenue0.06%0.03%0.03%0.02%0.02%0.03%0.03%0.03%0.04%0.02%
Acquisitions----------
Investments----------
Other Investing0000000000
Cash from Financing+7.97M23.95M94.37M21.9M-27.09M24.97M-150.26M-108.59M-137.31M-102.34M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid0000000000
Share Repurchases----------
Other Financing3.67M18.98M4.97M30.99M42.29M147.82M39.51M21.35M17.05M-25.86M
Net Change in Cash----------
Free Cash Flow+-9.23M30.41M-5.18M97.41M128.95M207.69M-74.48M50.12M134.66M108.19M
FCF Margin %-0.01%0.03%-0%0.08%0.1%0.12%-0.04%0.03%0.09%0.07%
FCF Growth %-4.3%-1.17%19.82%0.32%0.61%-1.36%1.67%1.69%-0.2%
FCF per Share-0.090.29-0.050.941.171.48-0.540.391.090.90
FCF Conversion (FCF/Net Income)-1.13x-4.50x-1.96x-25.31x-8.05x1.60x-0.42x-9.77x-4.98x-2.24x
Interest Paid2.33M4.11M3.75M2.52M1.65M502K344K1.33M00
Taxes Paid233K461K1.43M3.57M783K4.11M9.31M9.52M21.21M0

Key Ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)--52655.56%-14.98%-1.95%-6.95%36.59%11.93%-1.9%-8.05%-15.6%
Return on Invested Capital (ROIC)---24.48%80.49%--45.46%-4.56%-10.64%-13.59%
Gross Margin44.76%45.95%43.03%41.83%43.12%47.18%45.45%43.29%45.41%43.69%
Net Margin-4.24%-1.43%-1.37%-0.38%-1.52%9.24%3.85%-0.62%-2.51%-4.24%
Debt / Equity-1466.67x0.19x0.12x0.29x0.08x0.06x0.11x0.15x0.15x
Interest Coverage-12.40x-3.66x-1.97x0.57x-18.31x261.76x162.20x-28.03x-108.95x-108.53x
FCF Conversion-1.13x-4.50x-1.96x-25.31x-8.05x1.60x-0.42x-9.77x-4.98x-2.24x
Revenue Growth-10.12%14.56%10.89%5.2%29.44%2.07%-5.54%-8.29%-4.93%

Revenue by Segment

20182019202020212022202320242025
Sonos Speakers------1.17B1.12B
Sonos Speakers Growth--------4.09%
Sonos System Products------267.74M249.24M
Sonos System Products Growth--------6.91%
Partner Products And Other Revenue------80.71M72.23M
Partner Products And Other Revenue Growth--------10.50%
Wireless Speakers546.65M518.82M1.03B1.38B1.37B1.29B--
Wireless Speakers Growth--5.09%99.45%33.24%-0.72%-5.51%--
Home Theater Speakers418.42M489.6M218.79M265.18M297.11M285.06M--
Home Theater Speakers Growth-17.01%-55.31%21.20%12.04%-4.05%--
Components150.44M188.86M72.73M72.76M86.31M76.75M--
Components Growth-25.54%-61.49%0.04%18.63%-11.08%--
Other Products21.51M63.54M------
Other Products Growth-195.43%------

Revenue by Geography

20182019202020212022202320242025
Americas603.45M678.22M755.87M980.93M1.04B1.05B1B922.94M
Americas Growth-12.39%11.45%29.77%6.44%0.40%-4.15%-8.14%
UNITED STATES554.9M630.01M697.41M890.84M964.12M971.15M930.29M855.74M
UNITED STATES Growth-13.54%10.70%27.74%8.23%0.73%-4.21%-8.01%
Non-US------587.77M587.54M
Non-US Growth--------0.04%
EMEA478.52M484.79M470.88M618.48M578.03M518.18M430.43M441.18M
EMEA Growth-1.31%-2.87%31.34%-6.54%-10.35%-16.93%2.50%
Asia Pacific55.04M97.81M99.57M117.34M130.19M88.83M82.86M79.16M
Asia Pacific Growth-77.71%1.80%17.84%10.95%-31.77%-6.72%-4.47%
Other Countries345.78M393.72M407.35M825.91M788.22M684.1M--
Other Countries Growth-13.87%3.46%102.75%-4.56%-13.21%--
GERMANY121.55M124.39M109.12M-----
GERMANY Growth-2.34%-12.27%-----

Frequently Asked Questions

Growth & Financials

Sonos, Inc. (SONO) reported $1.44B in revenue for fiscal year 2025. This represents a 60% increase from $901.3M in 2016.

Sonos, Inc. (SONO) saw revenue decline by 4.9% over the past year.

Sonos, Inc. (SONO) reported a net loss of $61.1M for fiscal year 2025.

Dividend & Returns

Sonos, Inc. (SONO) has a return on equity (ROE) of -15.6%. Negative ROE indicates the company is unprofitable.

Sonos, Inc. (SONO) generated $108.2M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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