Last 39 quarters of trend data · Communication Services · Entertainment
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | -20.95 | — | 3.08 | — | — | — | — | — | — | 4.92 | 0.45 | — | 2.66 |
| — | — | — | — | — | — | — | — | — | — | — | — | -97.7% | |
| P/S Ratio | 0.80 | 2.14 | 1.57 | 1.30 | 1.33 | 1.73 | 0.99 | 1.35 | 0.95 | 2.77 | — | 0.65 | 0.28 |
| — | +23.9% | +58.6% | -4.2% | +39.3% | -37.7% | — | +107.5% | +240.0% | +95.0% | — | -30.4% | -48.2% | |
| P/B Ratio | 1.77 | 1.04 | 0.81 | 0.51 | 0.60 | 0.68 | 0.51 | 0.71 | 0.49 | 0.50 | 0.37 | 0.44 | 0.33 |
| — | +53.3% | +60.2% | -28.2% | +23.7% | +37.1% | +35.5% | +63.2% | +49.1% | +49.2% | -3.3% | -25.4% | -33.8% | |
| P/FCF | — | 5.07 | — | 2.66 | 14.39 | 25.30 | — | 5.33 | — | — | — | — | — |
| — | -79.9% | — | -50.0% | — | — | — | — | — | — | — | — | — | |
| EV / EBITDA | 53.03 | — | 6.81 | — | 48.87 | — | 12.24 | 14.47 | — | — | — | — | 6.38 |
| — | — | -44.3% | — | — | — | — | — | — | — | — | — | -17.6% | |
| EV / EBIT | — | — | 63.56 | — | — | — | — | — | — | — | 1.68 | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Sphere Entertainment Co.'s operating margin was -49.4% in Q1 2026, down 77.1 pp QoQ and up 2.2 pp YoY. The trailing four-quarter average of -24.7% exceeds the current quarter, suggesting the latest result may reflect seasonal weakness or a one-off headwind. Gross margin expanded 23.5% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 21.7% | 47.8% | -26.1% | 38.7% | 45.3% | 38.7% | 23.7% | 27.2% | 49.1% | 28.4% | 44.0% | 42.2% | 45.7% |
| — | +23.5% | -210.3% | +42.3% | -7.8% | +36.3% | -46.2% | -35.5% | +7.6% | -26.7% | +18.2% | -3.8% | +7.1% | |
| Operating Margin | -21.7% | -49.4% | 27.6% | -51.6% | -25.6% | -51.6% | -13.0% | -11.0% | -50.8% | -59.1% | 38.3% | -19.3% | 11.5% |
| — | +4.2% | +313.0% | -370.9% | +49.6% | +12.7% | -133.9% | +43.3% | -541.4% | -42.6% | +406.1% | -7926.8% | +68.2% | |
| Net Margin | -19.5% | -38.5% | 51.0% | -46.2% | -17.0% | -46.2% | -55.1% | -14.7% | -55.1% | 56.3% | -94.9% | -15.6% | 10.5% |
| — | +16.6% | +192.5% | -214.2% | +69.1% | -182.1% | +41.9% | +6.0% | -624.0% | +254.9% | -330.6% | -215.4% | +2293.4% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -8.3% | -4.5% | 6.6% | -4.5% | -2.0% | -4.4% | -7.1% | -1.9% | -6.8% | 2.5% | 22.6% | -2.6% | 3.1% |
| — | -2.8% | +192.9% | -131.3% | +71.0% | -273.1% | -131.3% | +25.8% | -316.8% | +221.2% | +599.0% | -235.9% | +2975.1% | |
| ROA | -4.1% | -2.4% | 3.5% | -2.2% | -1.0% | -2.2% | -3.6% | -1.0% | -3.6% | 1.4% | 9.7% | -1.0% | 1.2% |
| — | -9.2% | +197.2% | -125.2% | +72.8% | -264.6% | -136.5% | -1.4% | -396.5% | +265.2% | +641.0% | -203.2% | +2754.3% | |
| ROIC | -5.0% | -3.4% | 2.0% | -2.7% | -1.6% | -2.6% | -0.9% | -0.8% | -3.5% | -1.4% | -4.1% | -1.2% | 1.3% |
| — | -28.5% | +316.9% | -236.1% | +54.4% | -83.7% | +77.5% | +35.9% | -357.3% | -20.2% | -182.4% | -6335.4% | +57.1% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
The current ratio has improved 70.8% YoY to 0.96x, strengthening the short-term liquidity position.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.63 | 0.46 | 0.44 | 0.65 | 0.63 | 0.65 | 0.62 | 0.63 | 0.62 | 0.50 | 0.51 | 1.04 | 1.15 |
| — | -28.3% | -28.5% | +2.7% | +0.9% | +28.7% | +20.5% | -39.7% | -45.7% | -52.8% | +1.6% | +9.4% | +19.6% | |
| Debt / EBITDA | 45.34 | — | 11.00 | — | 123.75 | — | 33.90 | 34.49 | — | — | — | — | 22.91 |
| — | — | -67.6% | — | — | — | — | — | — | — | — | — | -30.7% | |
| Current Ratio | 0.63 | 0.96 | 1.13 | 0.56 | 0.63 | 0.56 | 0.64 | 0.65 | 0.63 | 1.05 | 0.90 | 0.85 | 0.95 |
| — | +70.8% | +76.7% | -14.5% | +0.3% | -46.6% | -29.0% | -23.1% | -33.9% | +14.7% | -28.9% | -43.8% | -49.5% | |
| Quick Ratio | 0.62 | 0.94 | 1.13 | 0.55 | 0.62 | 0.55 | 0.63 | 0.65 | 0.63 | 1.04 | 0.90 | 0.85 | 0.94 |
| — | +70.9% | +79.1% | -15.9% | -1.0% | -47.5% | -30.0% | -23.3% | -32.9% | +16.3% | -1.5% | -43.8% | -50.3% | |
| Interest Coverage | -2.79 | -13.80 | 3.18 | -4.49 | -2.30 | -4.36 | -1.51 | -1.30 | -6.18 | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 39 years · Updated daily
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Start ComparisonSphere Entertainment Co.'s current P/E is -21.0x. The average P/E over the last 1 quarters is 3.1x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Sphere Entertainment Co.'s current operating margin is -21.7%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Sphere Entertainment Co.'s business trajectory between earnings reports.