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Reservoir Media vs Sphere Entertainment: revenue, profit, margins and growth compared

Reservoir Media brought in $175.7M of revenue in fiscal 2026, Sphere Entertainment $1.2B in fiscal 2025. Reservoir Media kept 4.7% of its revenue as net profit, Sphere Entertainment 2.7%.

Side by side, latest fiscal year

RSVRSPHR
Fiscal year endedFY2026 (March 31, 2026)FY2025 (December 31, 2025)
Revenue$175.7M$1.2B
Revenue growth+10.7%n/a
Net income$8.3M$33.4M
Net margin4.7%2.7%
Free cash flow$49.7Mn/a
Free cash flow margin28.3%n/a
Earnings per share (diluted)$0.13$0.74
Cash$25.9M$507.8M
Debt$455.7M$692.7M
Price to earnings73.0190.7
Market value$625.7M$5.1B
Dividend yieldn/an/a
Rank by revenue in sector#663 of 778 · Consumer discretionary#433 of 778 · Consumer discretionary

Over the years

Revenue
RSVR FY2020: $62.5MRSVR FY2022: $80.2MRSVR FY2022: $107.8MRSVR FY2023: $122.3MRSVR FY2024: $144.9MRSVR FY2025: $158.7MRSVR FY2026: $175.7MSPHR FY2018: $989MSPHR FY2020: $1BSPHR FY2020: $1.4BSPHR FY2021: $789.9MSPHR FY2022: $610.1MSPHR FY2023: $573.8MSPHR FY2024: $1BSPHR FY2025: $1.2BFY18FY20FY21FY22FY23FY24FY25FY26
RSVR $175.7MSPHR $1.2B
Net income
RSVR FY2020: $9.5MRSVR FY2022: $9.3MRSVR FY2022: $13.1MRSVR FY2023: $2.5MRSVR FY2024: $644.9KRSVR FY2025: $7.7MRSVR FY2026: $8.3MSPHR FY2018: $6.9MSPHR FY2020: -$8.2MSPHR FY2020: $181.7MSPHR FY2021: -$148.2MSPHR FY2022: -$194.4MSPHR FY2023: $502.8MSPHR FY2024: -$200.6MSPHR FY2025: $33.4MFY18FY20FY21FY22FY23FY24FY25FY26
RSVR $8.3MSPHR $33.4M
Net margin
RSVR FY2020: 15.2%RSVR FY2022: 11.5%RSVR FY2022: 12.1%RSVR FY2023: 2.1%RSVR FY2024: 0.4%RSVR FY2025: 4.9%RSVR FY2026: 4.7%SPHR FY2018: 0.7%SPHR FY2020: -0.8%SPHR FY2020: 12.7%SPHR FY2021: -18.8%SPHR FY2022: -31.9%SPHR FY2023: 87.6%SPHR FY2024: -19.5%SPHR FY2025: 2.7%FY18FY20FY21FY22FY23FY24FY25FY26
RSVR 4.7%SPHR 2.7%
Revenue growth
RSVR FY2022: +28.5%RSVR FY2022: +34.4%RSVR FY2023: +13.4%RSVR FY2024: +18.5%RSVR FY2025: +9.6%RSVR FY2026: +10.7%SPHR FY2020: +6.1%SPHR FY2020: +36.9%SPHR FY2021: -45.0%SPHR FY2022: -22.8%SPHR FY2023: -5.9%SPHR FY2024: +79.0%FY20FY21FY22FY23FY24FY25FY26
RSVR +10.7%SPHR +79.0%
Free cash flow
RSVR FY2022: $14.6MRSVR FY2022: $12.3MRSVR FY2023: $30.8MRSVR FY2024: $36MRSVR FY2025: $45.2MRSVR FY2026: $49.7MSPHR FY2018: -$43MSPHR FY2020: -$82.6MSPHR FY2020: -$147.1MSPHR FY2021: -$514.7MSPHR FY2022: -$615.4MFY18FY20FY21FY22FY23FY24FY25FY26
RSVR $49.7MSPHR -$615.4M

Fiscal years as each company reports them; the two may end in different months.

Questions about Reservoir Media and Sphere Entertainment

Which is bigger by revenue, Reservoir Media or Sphere Entertainment?

Sphere Entertainment is bigger by revenue: $1.2B in fiscal 2025, against $175.7M for Reservoir Media in fiscal 2026.

Which keeps more of its revenue as profit, Reservoir Media or Sphere Entertainment?

Reservoir Media had a net margin of 4.7% in fiscal 2026; Sphere Entertainment had 2.7% in fiscal 2025.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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