Sphere Entertainment Co Financials

SPHR

Source SEC Filings (10-K/10-Q) Updated Feb 12, 2026 Currency USD FYE February

Financial Health Signals

Financial Profile 44/100

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 strong profitability earns a score of 94/100, reflecting efficient cost management and pricing power. This is up from -33.2% the prior year.

Growth

Sphere Entertainment Co's revenue declined 99.9% year-over-year, from $1.0B to $1.2M. This contraction results in a growth score of 0/100.

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 98/100, 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 24/100, 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 6/100.

Altman Z-Score Safe

1247.37

Sphere Entertainment Co scores 1247.37, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($4.1B) relative to total liabilities ($2.0M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

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 ($243K OCF vs $33K net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate

3.3x

Sphere Entertainment Co earns $3.3 in operating income for every $1 of interest expense ($230K vs $71K). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

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).

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Key Financial Metrics

Revenue

$1.2M

YoY-99.9%

5Y CAGR-75.7%

Sphere Entertainment Co generated $1.2M in revenue in fiscal year 2025. This represents a decrease of 99.9% from the prior year.

EBITDA

$566K

YoY+100.7%

5Y CAGR-72.3%

Sphere Entertainment Co's EBITDA was $566K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 100.7% from the prior year.

Free Cash Flow

N/A

Net Income

$33K

YoY+100.0%

5Y CAGR-82.1%

Sphere Entertainment Co reported $33K in net income in fiscal year 2025. This represents an increase of 100.0% 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 & Debt

$508K

YoY-99.9%

5Y CAGR-78.5%

Sphere Entertainment Co held $508K in cash against $767K in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

29M

Sphere Entertainment Co had 29M shares outstanding in fiscal year 2025.

Gross Margin

N/A

Operating Margin

18.8%

YoY+52.0pp

5Y CAGR+2.4pp

Sphere Entertainment Co's operating margin was 18.8% in fiscal year 2025, reflecting core business profitability. This is up 52.0 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%

5Y CAGR-4.9pp

Sphere Entertainment Co's ROE was 1.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.

R&D Spending

N/A

Share Buybacks

$50K

5Y CAGR-82.4%

Sphere Entertainment Co spent $50K 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	$1.2M-99.9%	$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	$442K	N/A	N/A	$681.8M+60.7%	$424.4M-2.0%	$433.2M
Operating Income	$230K+100.1%	-$341.2M-25.0%	-$273.0M-64.7%	-$165.7M+11.9%	-$188.2M-180.0%	$235.2M
Interest Expense	$71K-99.9%	$79.9M	$0-100.0%	$27.2M+33.0%	$20.4M-44.1%	$36.6M
Income Tax	$24K+100.0%	-$135.6M-231.1%	$103.4M+446.6%	-$29.8M-176.7%	$38.9M-61.7%	$101.7M
Net Income	$33K+100.0%	-$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+2386.7%	-$1.1M-104.2%	$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+68.6%	-$64.8M-96.5%	-$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)	$2.42+186.4%	$-2.80-182.6%	$3.39+249.3%	$-2.27-2422.2%	$-0.09+96.9%	$-2.95-125.2%	$-1.31+1.5%	$-1.33

SPHR Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$4.2M-99.9%	$4.8B-3.7%	$5.0B-9.9%	$5.5B+4.4%	$5.3B+41.7%	$3.7B
Current Assets	$810K-99.9%	$865.7M+38.8%	$623.9M-48.8%	$1.2B-34.9%	$1.9B+31.3%	$1.4B
Cash & Equivalents	$508K-99.9%	$559.8M+324.2%	$132.0M-82.3%	$747.3M-50.7%	$1.5B+37.5%	$1.1B
Inventory	$14K-99.9%	$11.9M	$0-100.0%	$13.5M+41.9%	$9.5M	N/A
Accounts Receivable	$172K	N/A	N/A	$188.0M+1.8%	$184.6M+222.8%	$57.2M
Goodwill	$345K-99.9%	$470.2M+2.9%	$456.8M0.0%	$456.8M0.0%	$456.8M-8.4%	$498.8M
Total Liabilities	$2.0M-99.9%	$2.4B-0.7%	$2.4B-28.9%	$3.4B+13.2%	$3.0B+251.8%	$844.8M
Current Liabilities	$743K-99.9%	$1.4B+98.5%	$692.1M-28.0%	$961.1M+31.7%	$729.9M+43.1%	$510.0M
Long-Term Debt	$767K-99.9%	$522.7M-53.3%	$1.1B+20.3%	$929.5M-43.7%	$1.7B+5768.7%	$28.1M
Total Equity	$2.2M-99.9%	$2.4B-6.5%	$2.6B+31.6%	$2.0B-9.5%	$2.2B-24.1%	$2.9B
Retained Earnings	$186K-98.4%	$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	$243K+101.2%	-$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	$4K+100.0%	-$45.2M+93.1%	-$653.9M+18.7%	-$804.2M-552.8%	-$123.2M+68.8%	-$394.5M
Financing Cash Flow	$233K-99.9%	$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	$50K	$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%+52.0pp	-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%	N/A	19.5%	N/A	N/A	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%	N/A	6.6%	N/A	N/A	N/A	N/A	N/A
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 $1.2M in total revenue for fiscal year 2025. This represents a -99.9% 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 declined by 99.9% year-over-year, from $1.0B to $1.2M in fiscal year 2025.

Is Sphere Entertainment Co profitable?

Yes, Sphere Entertainment Co (SPHR) reported a net income of $33K in fiscal year 2025, with a net profit margin of 2.7%.

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.

What is Sphere Entertainment Co's EBITDA?

Sphere Entertainment Co (SPHR) had EBITDA of $566K 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 $508K in cash and equivalents against $767K 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 $243K 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 $4.2M 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 $50K on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Sphere Entertainment Co have outstanding?

Sphere Entertainment Co (SPHR) had 29M shares outstanding as of fiscal year 2025.

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 Altman Z-Score?

Sphere Entertainment Co (SPHR) has an Altman Z-Score of 1247.37, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

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.

Can Sphere Entertainment Co cover its interest payments?

Sphere Entertainment Co (SPHR) has an interest coverage ratio of 3.3x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Sphere Entertainment Co?

Sphere Entertainment Co (SPHR) scores 44 out of 100 on our Financial Profile, indicating moderate 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.