Sphere Entertainment Co. (SPHR) Financial Ratios
11 years of historical data (2015–2025) · Communication Services · Entertainment
EV/EBITDA
↑
175.64
↑+333% vs avg
5yr avg: 40.53
30Y Low0.5·High73.4
P/FCF
N/A
—
5yr avg: N/A
P/B Ratio
↑
2.03
↑+342% vs avg
5yr avg: 0.46
30Y Low0.3·High0.6
ROE
↓
-8.3%
↑-337% vs avg
5yr avg: -1.9%
30Y Low-9%·High21%
Debt/EBITDA
↑
45.34
↑+62% vs avg
5yr avg: 28.06
30Y Low0.8·High45.3
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
SPHR Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Sphere Entertainment Co. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.9B | $1.5B | $1.2B | $957M | $832M | $939M | $832M | — | — | — | — |
| Enterprise Value | $5.9B | $2.5B | $2.2B | $2.1B | $1.2B | $1.4B | $187M | — | — | — | — |
| P/E Ratio → | -24.07 | — | — | 1.90 | — | — | 48.11 | — | — | — | — |
| P/S Ratio | 4.79 | 1.46 | 1.21 | 1.67 | 1.36 | 1.45 | 0.58 | — | — | — | — |
| P/B Ratio | 2.03 | 0.62 | 0.51 | 0.37 | 0.39 | 0.41 | 0.29 | — | — | — | — |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | 6.23 | 5.89 | — | 2.70 | — | — | — | — |
P/E links to full P/E history page with 30-year chart
SPHR EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Sphere Entertainment Co.'s enterprise value stands at 175.6x EBITDA, 333% above its 5-year average of 40.5x. The Communication Services sector median is 9.0x, placing the stock at a 1844% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.39 | 2.14 | 3.74 | 1.92 | 2.21 | 0.13 | — | — | — | — |
| EV / EBITDA | 175.64 | 73.38 | — | — | — | 7.69 | 0.54 | — | — | — | — |
| EV / EBIT | — | — | — | 7.79 | — | 22.49 | 0.65 | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | — |
SPHR Profitability
Margins and return-on-capital ratios measuring operating efficiency
Sphere Entertainment Co. earns an operating margin of -21.7%. Operating margins have expanded from -47.6% to -21.7% over the past 3 years, signaling improving operational efficiency. A negative ROE of -8.3% indicates the company is currently destroying shareholder equity.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 21.7% | 21.7% | 46.7% | 40.4% | 47.5% | 59.4% | 45.0% | 36.1% | 35.8% | 27.3% | 33.8% |
| Operating Margin | -21.7% | -21.7% | -33.2% | -47.6% | -27.2% | 10.0% | 16.4% | -4.3% | -3.2% | -13.8% | -5.3% |
| Net Profit Margin | -19.5% | -19.5% | -19.5% | 87.6% | -31.9% | -22.9% | 12.7% | -0.8% | 0.7% | -15.3% | -6.9% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -8.3% | -8.3% | -8.0% | 21.2% | -8.7% | -5.7% | 6.6% | -0.3% | 0.3% | -4.3% | -3.0% |
| ROA | -4.2% | -4.2% | -4.1% | 9.6% | -3.6% | -3.3% | 5.2% | -0.2% | 0.2% | -3.0% | -2.2% |
| ROIC | -5.0% | -5.0% | -7.2% | -6.5% | -4.7% | 1.9% | 9.1% | -2.2% | -1.7% | -5.9% | -3.9% |
| ROCE | -6.5% | -6.5% | -8.9% | -6.2% | -3.6% | 1.7% | 7.8% | -1.6% | -1.1% | -3.3% | -2.0% |
SPHR Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Sphere Entertainment Co. carries a Debt/EBITDA ratio of 45.3x, which is highly leveraged (1191% above the sector average of 3.5x). Net debt stands at $959M ($1.5B total debt minus $560M cash).
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.63 | 0.63 | 0.63 | 0.51 | 0.50 | 0.87 | 0.09 | 0.02 | 0.04 | 0.04 | — |
| Debt / EBITDA | 45.34 | 45.34 | — | — | — | 10.79 | 0.75 | 0.86 | 1.31 | — | — |
| Net Debt / Equity | — | 0.40 | 0.40 | 0.46 | 0.16 | 0.21 | -0.22 | -0.39 | -0.44 | -0.45 | -0.56 |
| Net Debt / EBITDA | 28.63 | 28.63 | — | — | — | 2.65 | -1.86 | -16.12 | -13.86 | — | -32.94 |
| Debt / FCF | — | — | — | — | — | — | — | — | — | -20.79 | -11.48 |
| Interest Coverage | -3.51 | -3.51 | -3.51 | — | -8.21 | 3.15 | 7.88 | -2.58 | -1.38 | -61.52 | — |
SPHR Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.63x is below 1.0, meaning current liabilities exceed current assets. The current ratio has declined from 0.90x to 0.63x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.63 | 0.63 | 0.63 | 0.90 | 1.27 | 2.57 | 2.80 | 2.84 | 2.80 | 1.90 | 2.61 |
| Quick Ratio | 0.62 | 0.62 | 0.62 | 0.90 | 1.27 | 2.57 | 2.80 | 2.84 | 2.80 | 1.90 | 2.61 |
| Cash Ratio | 0.41 | 0.41 | 0.41 | 0.19 | 0.78 | 2.08 | 2.44 | 2.51 | 2.53 | 1.62 | 2.35 |
| Asset Turnover | — | 0.21 | 0.21 | 0.12 | 0.11 | 0.12 | 0.38 | 0.32 | 0.30 | 0.19 | 0.31 |
| Inventory Turnover | 63.92 | 63.92 | 46.06 | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 64.11 | 85.83 | 101.88 | 75.60 | 122.06 | 21.38 | 31.19 | 30.42 | 52.40 | 24.87 |
SPHR Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Sphere Entertainment Co. returns 0.7% to shareholders annually primarily through share buybacks.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | 12.7% | 0.3% | 0.2% | — | — | — | — | — |
| Payout Ratio | — | — | — | 24.2% | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | 52.6% | — | — | 2.1% | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.7% | 2.3% | 0.0% | 0.0% | 0.0% | 0.0% | 35.3% | — | — | — | — |
| Total Shareholder Yield | 0.7% | 2.3% | 0.0% | 12.7% | 0.3% | 0.2% | 35.3% | — | — | — | — |
| Shares Outstanding | — | $36M | $35M | $35M | $34M | $24M | $24M | $24M | $24M | $24M | $25M |
Peer Comparison
Compare SPHR with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 SPHRYou | $5B | -24.1 | 175.6 | — | 21.7% | -21.7% | -8.3% | -5.0% | 45.3 |
 LYV | $39B | -693.0 | 19.9 | 115.8 | 23.0% | 5.9% | 26.4% | 19.7% | 5.6 |
 MSGE | $3B | 86.6 | 24.0 | 33.9 | 43.2% | 13.0% | — | 8.5% | 6.7 |
 AEG | $12B | 23.4 | 19.3 | 14.8 | 100.0% | 3.4% | 7.3% | 4.7% | 8.0 |
 EPR | $4B | 17.6 | 13.7 | 10.5 | 44.7% | 52.5% | 11.8% | 5.3% | 5.8 |
 DIS | $193B | 15.9 | 12.1 | 19.1 | 37.8% | 14.6% | 11.3% | 6.9% | 2.3 |
 CMCSA | $96B | 4.9 | 5.3 | 4.4 | 60.1% | 16.7% | 21.6% | 8.2% | 3.0 |
 WBD | $68B | 93.5 | 13.7 | 22.0 | 28.2% | 3.5% | 2.0% | 1.5% | 4.7 |
 AMC | $930M | -1.2 | 4.7 | — | 75.0% | 38.1% | — | 23.7% | 4.4 |
 CNK | $3B | 26.4 | 12.2 | 18.1 | 18.6% | 11.0% | 27.2% | 7.5% | 7.0 |
 NVDA | $5.1T | 43.2 | 38.6 | 53.2 | 71.1% | 60.4% | 101.5% | 81.8% | 0.1 |
| Communication Services Median | — | 15.4 | 9.0 | 11.8 | 48.3% | 0.7% | 2.2% | 3.0% | 3.5 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 11 years · Updated daily
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Start ComparisonSPHR — Frequently Asked Questions
Quick answers to the most common questions about buying SPHR stock.
What is Sphere Entertainment Co.'s P/E ratio?
Sphere Entertainment Co.'s current P/E ratio is -24.1x. The historical average is 25.0x.
What is Sphere Entertainment Co.'s EV/EBITDA?
Sphere Entertainment Co.'s current EV/EBITDA is 175.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 27.2x.
What is Sphere Entertainment Co.'s ROE?
Sphere Entertainment Co.'s return on equity (ROE) is -8.3%. The historical average is -1.2%.
Is SPHR stock overvalued?
Based on historical data, Sphere Entertainment Co. is trading at a P/E of -24.1x. Compare with industry peers and growth rates for a complete picture.
What are Sphere Entertainment Co.'s profit margins?
Sphere Entertainment Co. has 21.7% gross margin and -21.7% operating margin.
How much debt does Sphere Entertainment Co. have?
Sphere Entertainment Co.'s Debt/EBITDA ratio is 45.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.