Income statement, balance sheet and cash flow statement for the last 8 fiscal years, taken from the XBRL data Sphere Entertainment Co. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2018
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
989
1,049
1,436
790
610
574
1,027
1,220
Selling, general and administrative
273
315
433
424
682
Operating expenses
1,095
823
1,002
1,827
Operating income
-31.3
-45.6
235
-188
-166
-273
-341
-230
Interest expense
12.2
5.59
36.6
20.4
27.2
0
79.9
Interest income
21.3
30.2
22.2
3.22
4.21
11.6
25.7
Other non-operating income
2.34
25.6
16.3
27.4
-113
537
35.2
-2.27
Pre-tax income
-28.9
-20
252
-161
-168
275
-360
57.2
Income tax
-30.8
0.44
102
38.9
-29.8
103
-136
23.8
Income from continuing operations
172
-225
33.4
Net income
6.9
-8.22
182
-148
-194
503
-201
33.4
EBITDA
80.8
63.7
347
-66.2
-41.1
-170
-84.7
107
EPS, basic
2.09
-2.25
5.21
-4.60
-5.77
14.51
-5.68
0.93
EPS, diluted
2.09
-2.25
5.20
-4.59
-5.77
14.40
-5.68
0.74
Shares, basic (weighted)
3.32
0
34.9
34.1
34.3
34.7
35.3
36.1
Shares, diluted (weighted)
3.32
0
34.9
34.3
34.3
34.9
35.3
45.3
Balance sheet
FY2018
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
1,226
1,082
1,103
1,517
747
132
560
508
Short-term investments
108
337
0
Receivables
81
57.2
185
188
Inventory
9.52
13.5
0
11.9
14.5
Other current assets
39.4
22.6
24.8
5.87
11.2
8.23
11.4
Total current assets
1,347
1,427
1,873
1,219
624
866
810
Property, plant and equipment
1,349
1,660
2,156
2,158
3,307
3,158
2,711
Lease right-of-use assets
0
220
281
66.2
84.9
106
91.4
Goodwill
148
166
499
457
457
457
470
345
Intangible assets
214
150
198
86.5
17.9
31.9
21.8
Other non-current assets
90
85.1
167
49.5
86.7
124
192
Total assets
3,316
3,734
5,290
5,522
4,973
4,788
4,210
Accounts payable
24
17.3
26.6
2.01
39.7
18.9
24.6
Accrued liabilities
82.4
68.8
87.4
62.9
75.6
85.8
431
Deferred revenue
187
189
210
4.32
27.3
80.4
193
Short-term debt
6.04
5.43
54
66
82.5
849
63
Total current liabilities
474
510
730
961
692
1,374
743
Long-term debt
48.6
28.1
1,651
930
1,118
523
767
Lease liabilities
0
174
234
84.4
110
128
114
Other non-current liabilities
59.5
78.3
157
91.5
88.8
123
180
Total liabilities
662
845
2,972
3,363
2,389
2,372
1,977
Total debt
54.6
33.6
1,705
996
1,207
1,384
693
Paid-in capital
0
2,765
2,295
2,302
2,376
2,410
2,470
Retained earnings
0
142
-96.3
-291
212
11.4
-186
Treasury stock
0
0
-50
Other comprehensive income
-46.9
-46.9
-50.5
-30.3
-48.4
-4.94
-6.57
-0.78
Shareholders' equity
2,572
2,856
2,169
1,963
2,584
2,416
2,233
Minority interests
13.8
12.2
11.9
12.2
0
Total equity
2,492
2,146
2,300
2,180
1,975
2,584
2,416
2,233
Total liabilities and equity
3,316
3,734
5,290
5,522
4,973
4,788
4,210
Cash flow statement
FY2018
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
1.89
-20.5
150
-167
-190
506
-201
33.4
Depreciation and amortization
112
109
112
122
125
103
256
336
Stock-based compensation
27.3
35.4
61.4
70.6
77.1
62.7
48
59
Deferred income tax
-31.3
-0.37
8.7
-71.4
-31.3
123
-133
20.9
Change in receivables
-4.07
-0.35
18
-18.6
-30.7
7.1
-115
-17.1
Change in payables
39.9
78.4
117
-28.1
Cash from operations
144
101
308
-58.7
141
154
-19.7
243
Capital expenditures
-187
-184
-455
-456
-757
Acquisitions
-6.11
0
0
0
-9.42
0
Purchases of investments
-113
-443
0
0
Sales and maturities of investments
0
7.66
22.1
Cash from investing
-170
-238
-395
-123
-804
-654
-45.2
-3.9
Debt issued
0
40
100
631
725
303
252
0
Debt repaid
-0.69
-109
-41.3
-46.8
-725
Stock issued
0
0
8.83
6.49
Share buybacks
-294
0
0
0
0
-50
Cash from financing
15.4
-8.62
-114
593
-30.4
85.5
210
-233
Exchange rate effect
0.33
4.67
2.93
8.03
-0.75
-2.11
-0.77
-0.47
Net change in cash
-9.55
-140
-197
419
-694
-417
144
5.63
Free cash flow
-43
-82.6
-147
-515
-615
Income taxes paid
75.3
102
-1.01
0
0
2.55
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $141.13 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Operating margin
-11.4%
Operating income / revenue.
EBITDA margin
13.4%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-13.3%
Pre-tax income / revenue.
Net margin
-5.2%
Net income / revenue.
Operating cash flow margin
29.4%
Cash from operations / revenue.
Return on equity (ROE)
-3.2%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-1.7%
Net income / average total assets.
Return on invested capital (ROIC)
-5.3%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue
3.7%
Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue
24.8%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue CAGR, 5y
-3.2%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA CAGR, 5y
-21.0%
Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income CAGR, 5y
-28.7%
Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS CAGR, 5y
-32.3%
Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y
-4.6%
Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value CAGR, 5y
-4.8%
Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets CAGR, 5y
2.4%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change per year, 5y
5.3%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
1.22x
Current assets / current liabilities.
Quick ratio
0.86x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.86x
(Cash + short-term investments) / current liabilities.
Debt / equity
0.29x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
16.1%
Total debt / total assets.
Liabilities / assets
44.8%
Total liabilities / total assets.
Net debt
$98.4M
Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA
0.54x
Net debt / EBITDA (twelve months), when EBITDA is positive.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$37.53
Revenue / diluted weighted shares.
Operating cash flow per share
$11.03
Cash from operations / diluted weighted shares.
Book value per share
$61.63
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
3.74x
Market cap / revenue.
P/B
2.28x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
2.72x
Market cap / tangible book value, when positive.
P/OCF
12.7x
Market cap / cash from operations, when positive.
EV/Sales
3.81x
Enterprise value / revenue.
EV/EBITDA
28.4x
Enterprise value / EBITDA, when both are positive.
Earnings yield
-1.4%
Net income / market cap (the inverse of P/E).
What was Sphere Entertainment Co.'s revenue in fiscal 2025?
Sphere Entertainment Co. reported revenue of $1.22B for fiscal 2025, 18.8% higher than the year before.
Was Sphere Entertainment Co. profitable in fiscal 2025?
Yes. Net income was $33.4M, a net margin of 2.7%.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.