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Sphere Entertainment vs TKO: revenue, profit, margins and growth compared

Sphere Entertainment brought in $1.2B of revenue in fiscal 2025, TKO $4.7B in fiscal 2025. Sphere Entertainment kept 2.7% of its revenue as net profit, TKO 4.1%.

Side by side, latest fiscal year

SPHRTKO
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$1.2B$4.7B
Revenue growthn/a-3.1%
Net income$33.4M$195.4M
Net margin2.7%4.1%
Free cash flown/an/a
Free cash flow marginn/an/a
Earnings per share (diluted)$0.74$2.26
Cash$507.8M$831.1M
Debt$692.7M$3.8B
Price to earnings190.780.8
Market value$5.1B$34.6B
Dividend yieldn/an/a
Rank by revenue in sector#433 of 778 · Consumer discretionary#209 of 778 · Consumer discretionary

Over the years

Revenue
SPHR FY2018: $989MSPHR FY2020: $1BSPHR FY2020: $1.4BSPHR FY2021: $789.9MSPHR FY2022: $610.1MSPHR FY2023: $573.8MSPHR FY2024: $1BSPHR FY2025: $1.2BTKO FY2021: $1BTKO FY2023: $1.1BTKO FY2023: $3.2BTKO FY2024: $4.9BTKO FY2025: $4.7BFY18FY20FY21FY22FY23FY24FY25
SPHR $1.2BTKO $4.7B
Net income
SPHR FY2018: $6.9MSPHR FY2020: -$8.2MSPHR FY2020: $181.7MSPHR FY2021: -$148.2MSPHR FY2022: -$194.4MSPHR FY2023: $502.8MSPHR FY2024: -$200.6MSPHR FY2025: $33.4MTKO FY2021: $273.6MTKO FY2023: $389MTKO FY2023: -$35.2MTKO FY2024: $9.4MTKO FY2025: $195.4MFY18FY20FY21FY22FY23FY24FY25
SPHR $33.4MTKO $195.4M
Net margin
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%TKO FY2021: 26.5%TKO FY2023: 34.1%TKO FY2023: -1.1%TKO FY2024: 0.2%TKO FY2025: 4.1%FY18FY20FY21FY22FY23FY24FY25
SPHR 2.7%TKO 4.1%
Revenue growth
SPHR FY2020: +6.1%SPHR FY2020: +36.9%SPHR FY2021: -45.0%SPHR FY2022: -22.8%SPHR FY2023: -5.9%SPHR FY2024: +79.0%TKO FY2023: +10.5%TKO FY2023: +182.8%TKO FY2024: +51.5%TKO FY2025: -3.1%FY20FY21FY22FY23FY24FY25
SPHR +79.0%TKO -3.1%
Free cash flow
SPHR FY2018: -$43MSPHR FY2020: -$82.6MSPHR FY2020: -$147.1MSPHR FY2021: -$514.7MSPHR FY2022: -$615.4MFY18FY20FY21FY22
SPHR -$615.4MTKO

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

Questions about Sphere Entertainment and TKO

Which is bigger by revenue, Sphere Entertainment or TKO?

TKO is bigger by revenue: $4.7B in fiscal 2025, against $1.2B for Sphere Entertainment in fiscal 2025.

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

Sphere Entertainment had a net margin of 2.7% in fiscal 2025; TKO had 4.1% 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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