What is Sphere Entertainment Co's earnings per share (EPS)?

Sphere Entertainment Co (SPHR) reported diluted earnings per share of $0.74 for fiscal year 2025. This represents a 113.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Sphere Entertainment Co Financials

SPHR

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Sphere Entertainment Co (SPHR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 38/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Sphere Entertainment Co has an operating margin of -18.8%, meaning the company retains $-19 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -33.2% the prior year.

Growth

Sphere Entertainment Co's revenue surged 18.8% year-over-year to $1.2B, reflecting rapid business expansion. This strong growth earns a score of 65/100.

Leverage

Sphere Entertainment Co carries a low D/E ratio of 0.34, meaning only $0.34 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 95/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Sphere Entertainment Co's current ratio of 1.09 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 17/100, which could limit financial flexibility.

Returns

Sphere Entertainment Co generates a 1.5% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 14/100. This is up from -8.3% the prior year.

Piotroski F-Score Neutral

6/9

Sphere Entertainment Co passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

7.28x

For every $1 of reported earnings, Sphere Entertainment Co generates $7.28 in operating cash flow ($243.3M OCF vs $33.4M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$1.2B

YoY+18.8%

5Y CAGR-3.2%

Sphere Entertainment Co generated $1.2B in revenue in fiscal year 2025. This represents an increase of 18.8% from the prior year.

EBITDA

$106.8M

YoY+226.1%

5Y CAGR-21.0%

Sphere Entertainment Co's EBITDA was $106.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 226.1% from the prior year.

Net Income

$33.4M

YoY+116.6%

5Y CAGR-28.7%

Sphere Entertainment Co reported $33.4M in net income in fiscal year 2025. This represents an increase of 116.6% from the prior year.

EPS (Diluted)

$0.74

YoY+113.0%

5Y CAGR-32.3%

Sphere Entertainment Co earned $0.74 per diluted share (EPS) in fiscal year 2025. This represents an increase of 113.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$521.3M

YoY-6.9%

5Y CAGR-13.9%

Sphere Entertainment Co held $521.3M in cash against $767.4M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

N/A

Operating Margin

-18.8%

YoY+14.4pp

5Y CAGR-35.2pp

Sphere Entertainment Co's operating margin was -18.8% in fiscal year 2025, reflecting core business profitability. This is up 14.4 percentage points from the prior year.

Net Margin

2.7%

YoY+22.3pp

5Y CAGR-9.9pp

Sphere Entertainment Co's net profit margin was 2.7% in fiscal year 2025, showing the share of revenue converted to profit. This is up 22.3 percentage points from the prior year.

Return on Equity

1.5%

YoY+9.8pp

5Y CAGR-4.9pp

Sphere Entertainment Co's ROE was 1.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 9.8 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$50.0M

5Y CAGR-29.8%

Sphere Entertainment Co spent $50.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures

N/A

SPHR Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$1.2B+18.8%	$1.0B+79.0%	$573.8M-5.9%	$610.1M-5.8%	$647.5M-54.9%	$1.4B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	$681.8M+60.7%	$424.4M-2.0%	$433.2M
Operating Income	-$229.6M+32.7%	-$341.2M-25.0%	-$273.0M-64.7%	-$165.7M+11.9%	-$188.2M-180.0%	$235.2M
Interest Expense	N/A	$79.9M	$0-100.0%	$27.2M+33.0%	$20.4M-44.1%	$36.6M
Income Tax	$23.8M+117.6%	-$135.6M-231.1%	$103.4M+446.6%	-$29.8M-176.7%	$38.9M-61.7%	$101.7M
Net Income	$33.4M+116.6%	-$200.6M-139.9%	$502.8M+358.6%	-$194.4M-31.2%	-$148.2M-181.5%	$181.7M
EPS (Diluted)	$0.74+113.0%	$-5.68-139.4%	$14.40+349.6%	$-5.77-25.7%	$-4.59-188.3%	$5.20

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$394.3M+50.2%	$262.5M-7.1%	$282.7M+0.7%	$280.6M-9.0%	$308.3M+35.3%	$227.9M-16.6%	$273.4M-14.9%	$321.3M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	$99.7M-11.8%	$113.0M-1.1%	$114.3M	N/A	$119.0M+11.2%	$107.0M-13.1%	$123.1M
Operating Income	$28.9M+122.3%	-$129.7M-158.6%	-$50.2M+36.2%	-$78.6M+45.0%	-$142.9M-21.5%	-$117.6M-64.8%	-$71.4M-76.7%	-$40.4M
Interest Expense	N/A	$9.4M-63.7%	$25.9M-1.3%	$26.2M	N/A	$27.0M+0.2%	$26.9M-0.7%	$27.1M
Income Tax	-$42.3M-19.1%	-$35.5M-129.1%	$121.9M+700.0%	-$20.3M	N/A	-$33.0M-50.1%	-$22.0M-38.4%	-$15.9M
Net Income	$64.7M+164.0%	-$101.2M-166.7%	$151.8M+285.2%	-$82.0M+34.9%	-$126.0M-19.6%	-$105.3M-126.0%	-$46.6M+1.4%	-$47.2M
EPS (Diluted)	N/A	$-2.80-182.6%	$3.39+249.3%	$-2.27	N/A	$-2.95-125.2%	$-1.31+1.5%	$-1.33

SPHR Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$4.2B-12.1%	$4.8B-3.7%	$5.0B-9.9%	$5.5B+4.4%	$5.3B+41.7%	$3.7B
Current Assets	$810.2M-6.4%	$865.7M+38.8%	$623.9M-48.8%	$1.2B-34.9%	$1.9B+31.3%	$1.4B
Cash & Equivalents	$521.3M-6.9%	$559.8M+324.2%	$132.0M-82.3%	$747.3M-50.7%	$1.5B+37.5%	$1.1B
Inventory	$14.5M+21.5%	$11.9M	$0-100.0%	$13.5M+41.9%	$9.5M	N/A
Accounts Receivable	N/A	N/A	N/A	$188.0M+1.8%	$184.6M+222.8%	$57.2M
Goodwill	$344.8M-26.7%	$470.2M+2.9%	$456.8M0.0%	$456.8M0.0%	$456.8M-8.4%	$498.8M
Total Liabilities	$2.0B-16.7%	$2.4B-0.7%	$2.4B-28.9%	$3.4B+13.2%	$3.0B+251.8%	$844.8M
Current Liabilities	$743.4M-45.9%	$1.4B+98.5%	$692.1M-28.0%	$961.1M+31.7%	$729.9M+43.1%	$510.0M
Long-Term Debt	$767.4M+46.8%	$522.7M-53.3%	$1.1B+20.3%	$929.5M-43.7%	$1.7B+5768.7%	$28.1M
Total Equity	$2.2B-7.5%	$2.4B-6.5%	$2.6B+31.6%	$2.0B-9.5%	$2.2B-24.1%	$2.9B
Retained Earnings	-$186.4M-1737.3%	$11.4M-94.6%	$212.0M+172.9%	-$290.7M-201.8%	-$96.3M-167.7%	$142.3M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$4.2B+1.7%	$4.1B-1.4%	$4.2B-5.6%	$4.4B-1.5%	$4.5B-1.7%	$4.6B-4.1%	$4.8B-1.7%	$4.9B
Current Assets	$810.2M+21.6%	$666.4M+11.9%	$595.4M-19.0%	$735.1M-3.4%	$761.0M+3.4%	$736.1M-15.0%	$865.7M-5.5%	$916.1M
Cash & Equivalents	$521.3M+35.5%	$384.8M+8.2%	$355.7M-23.5%	$465.0M-7.4%	$502.0M-7.0%	$539.6M-3.6%	$559.8M-19.3%	$693.9M
Inventory	$14.5M+14.4%	$12.6M-1.5%	$12.8M-2.6%	$13.2M+4.6%	$12.6M-11.0%	$14.1M+18.9%	$11.9M+606.2%	$1.7M
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$344.8M0.0%	$344.8M-15.9%	$410.2M0.0%	$410.2M0.0%	$410.2M-12.8%	$470.2M0.0%	$470.2M+2.9%	$456.8M
Total Liabilities	$2.0B-0.3%	$2.0B+5.2%	$1.9B-18.2%	$2.3B-0.4%	$2.3B+1.6%	$2.3B-4.0%	$2.4B-2.2%	$2.4B
Current Liabilities	$743.4M+6.6%	$697.2M+32.3%	$526.9M-61.8%	$1.4B+0.7%	$1.4B+4.3%	$1.3B-4.2%	$1.4B-1.8%	$1.4B
Long-Term Debt	$767.4M-2.4%	$786.1M-5.4%	$830.5M+58.3%	$524.7M+0.1%	$524.0M+0.1%	$523.4M+0.1%	$522.7M+0.1%	$522.1M
Total Equity	$2.2B+3.6%	$2.2B-6.9%	$2.3B+8.0%	$2.1B-2.7%	$2.2B-4.9%	$2.3B-4.2%	$2.4B-1.1%	$2.4B
Retained Earnings	-$186.4M+25.8%	-$251.2M-67.5%	-$150.0M+50.3%	-$301.8M-37.3%	-$219.8M-134.1%	-$93.9M-924.6%	$11.4M-80.4%	$58.0M

SPHR Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$243.3M+1337.9%	-$19.7M-112.8%	$153.6M+8.7%	$141.3M+340.8%	-$58.7M-119.0%	$308.1M
Capital Expenditures	N/A	N/A	N/A	$756.7M+65.9%	$456.0M+0.2%	$455.2M
Free Cash Flow	N/A	N/A	N/A	-$615.4M-19.6%	-$514.7M-249.9%	-$147.1M
Investing Cash Flow	-$3.9M+91.4%	-$45.2M+93.1%	-$653.9M+18.7%	-$804.2M-552.8%	-$123.2M+68.8%	-$394.5M
Financing Cash Flow	-$233.3M-211.3%	$209.7M+145.2%	$85.5M+381.5%	-$30.4M-105.1%	$592.7M+620.5%	-$113.9M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$50.0M	$0	$0	$0	$0-100.0%	$293.5M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$180.2M+55.6%	$115.8M+296.1%	-$59.1M-1030.4%	$6.3M-5.7%	$6.7M-80.3%	$34.1M+147.1%	-$72.4M-171.7%	$101.0M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$15.3M-202.1%	-$5.1M-114.9%	$34.0M+293.6%	-$17.6M+56.7%	-$40.6M-107.1%	-$19.6M+21.5%	-$24.9M-17.6%	-$21.2M
Financing Cash Flow	-$41.3M+49.1%	-$81.0M+4.4%	-$84.8M-222.2%	-$26.3M-1041.8%	-$2.3M+93.5%	-$35.6M-53.0%	-$23.3M-79.6%	-$13.0M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	-$16K	N/A	N/A	N/A	N/A	N/A	N/A	N/A

SPHR Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-18.8%+14.4pp	-33.2%+14.4pp	-47.6%-20.4pp	-27.2%+1.9pp	-29.1%-45.5pp	16.4%
Net Margin	2.7%+22.3pp	-19.5%-107.2pp	87.6%+119.5pp	-31.9%-9.0pp	-22.9%-35.5pp	12.7%
Return on Equity	1.5%+9.8pp	-8.3%-27.8pp	19.5%+29.4pp	-9.9%-3.1pp	-6.8%-13.2pp	6.4%
Return on Assets	0.8%+5.0pp	-4.2%-14.3pp	10.1%+13.6pp	-3.5%-0.7pp	-2.8%-7.7pp	4.9%
Current Ratio	1.09+0.5	0.63-0.3	0.90-0.4	1.27-1.3	2.57-0.2	2.80
Debt-to-Equity	0.34+0.1	0.22-0.2	0.43-0.0	0.47-0.3	0.76+0.8	0.01
FCF Margin	N/A	N/A	N/A	-100.9%-21.4pp	-79.5%-69.3pp	-10.2%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	7.3%+56.8pp	-49.4%-31.7pp	-17.7%+10.3pp	-28.0%+18.4pp	-46.4%+5.2pp	-51.6%-25.5pp	-26.1%-13.5pp	-12.6%
Net Margin	16.4%+55.0pp	-38.6%-92.3pp	53.7%+82.9pp	-29.2%+11.6pp	-40.8%+5.3pp	-46.2%-29.1pp	-17.0%-2.3pp	-14.7%
Return on Equity	2.9%+7.6pp	-4.7%-11.3pp	6.6%+10.4pp	-3.8%+1.9pp	-5.7%-1.2pp	-4.5%-2.6pp	-1.9%0.0pp	-1.9%
Return on Assets	1.5%+4.0pp	-2.5%-6.1pp	3.6%+5.5pp	-1.8%+1.0pp	-2.8%-0.5pp	-2.3%-1.3pp	-1.0%0.0pp	-1.0%
Current Ratio	1.09+0.1	0.96-0.2	1.13+0.6	0.53-0.0	0.550.0	0.56-0.1	0.63-0.0	0.66
Debt-to-Equity	0.34-0.0	0.360.0	0.36+0.1	0.240.0	0.24+0.0	0.230.0	0.220.0	0.21
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Sphere Entertainment Co's annual revenue?

Sphere Entertainment Co (SPHR) reported $1.2B in total revenue for fiscal year 2025. This represents a 18.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Sphere Entertainment Co's revenue growing?

Sphere Entertainment Co (SPHR) revenue grew by 18.8% year-over-year, from $1.0B to $1.2B in fiscal year 2025.

Is Sphere Entertainment Co profitable?

Yes, Sphere Entertainment Co (SPHR) reported a net income of $33.4M in fiscal year 2025, with a net profit margin of 2.7%.

What is Sphere Entertainment Co's EBITDA?

Sphere Entertainment Co (SPHR) had EBITDA of $106.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Sphere Entertainment Co have?

As of fiscal year 2025, Sphere Entertainment Co (SPHR) had $521.3M in cash and equivalents against $767.4M in long-term debt.

What is Sphere Entertainment Co's operating margin?

Sphere Entertainment Co (SPHR) had an operating margin of -18.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Sphere Entertainment Co's net profit margin?

Sphere Entertainment Co (SPHR) had a net profit margin of 2.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Sphere Entertainment Co's return on equity (ROE)?

Sphere Entertainment Co (SPHR) has a return on equity of 1.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Sphere Entertainment Co's operating cash flow?

Sphere Entertainment Co (SPHR) generated $243.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Sphere Entertainment Co's total assets?

Sphere Entertainment Co (SPHR) had $4.2B in total assets as of fiscal year 2025, including both current and long-term assets.

Does Sphere Entertainment Co buy back shares?

Yes, Sphere Entertainment Co (SPHR) spent $50.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

What is Sphere Entertainment Co's current ratio?

Sphere Entertainment Co (SPHR) had a current ratio of 1.09 as of fiscal year 2025, which is considered adequate.

What is Sphere Entertainment Co's debt-to-equity ratio?

Sphere Entertainment Co (SPHR) had a debt-to-equity ratio of 0.34 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Sphere Entertainment Co's return on assets (ROA)?

Sphere Entertainment Co (SPHR) had a return on assets of 0.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Sphere Entertainment Co's Piotroski F-Score?

Sphere Entertainment Co (SPHR) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Sphere Entertainment Co's earnings high quality?

Sphere Entertainment Co (SPHR) has an earnings quality ratio of 7.28x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Sphere Entertainment Co?

Sphere Entertainment Co (SPHR) scores 38 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.