SPHR Stock Analysis: Sphere Entertainment Co. | NYSE
Entertainment | NYSE, USA | Market Cap: 5.441m USD | 12M Return: 227.1% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 115M
Qual. Beats: 0
Rev. Trend: 86.6%
Warnings
Tailwinds
Seasonality 6.2 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Sphere Entertainment Co. (NYSE: SPHR) operates as a live entertainment and media company in the United States through two reportable segments: Sphere and MSG Networks. The Sphere segment centers on a technology-driven entertainment medium designed to deliver multi-sensory experiences, while MSG Networks operates regional sports and entertainment networks and offers direct-to-consumer and authenticated streaming products featuring live local games and related programming.
The company sits within the Communication Services sector and the Movies & Entertainment sub-industry. Regional sports networks like MSG Networks typically generate revenue through a mix of affiliate fees from pay-TV distributors, advertising sales, and streaming subscriptions, licensing live game rights from professional leagues such as the NBA and NHL within defined geographic markets. Sphere Entertainment was founded in 2006, is headquartered in New York, and was previously known as Madison Square Garden Entertainment Corp. before adopting its current name in April 2023.
- Sphere Las Vegas concert and content revenue accelerates
- MSG Networks linear subscriber revenue declines as cord-cutting continues
- Elevated Sphere debt servicing costs pressure free cash flow margins
| Net Income: 119.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.08 > 0.02 and ΔFCF/TA 8.90 > 1.0 |
| NWC/Revenue: 3.71% < 20% (prev 6.28%; Δ -2.57% < -1%) |
| CFO/TA 0.08 > 3% & CFO 373.2m > Net Income 119.8m |
| Net Debt (568.2m) to EBITDA (548.0m): 1.04 < 3 |
| Current Ratio: 1.07 > 1.5 & < 3 |
| Outstanding Shares: last fiscal year (45.3m) vs prev 26.32% < -2% |
| Gross Margin: 48.29% > 18% (prev 43.97%; Δ 4.32% > 0.5%) |
| Asset Turnover: 30.73% > 50% (prev 25.96%; Δ 4.76% > 0%) |
| Interest Coverage Ratio: 4.04 > 6 (EBIT TTM 211.5m / Interest Expense TTM 52.4m) |
| A: 0.01 (Total Current Assets 792.5m - Total Current Liabilities 743.4m) / Total Assets 4.43b |
| B: -0.04 (Retained Earnings -186.4m / Total Assets 4.43b) |
| C: 0.05 (EBIT TTM 211.5m / Avg Total Assets 4.32b) |
| D: 1.02 (Book Value of Equity 2.23b / Total Liabilities 2.20b) |
| Altman-Z'' = 1.33 = BB |
| DSRI: 0.98 (Receivables 206.9m/172.8m, Revenue 1.33b/1.09b) |
| GMI: 0.91 (GM 43.97% / 48.29%) |
| AQI: 1.20 (AQ_t 0.19 / AQ_t-1 0.16) |
| SGI: 1.22 (Revenue 1.33b / 1.09b) |
| TATA: -0.06 (NI 119.8m - CFO 373.2m) / TA 4.43b) |
| Beneish M = -2.85 (Cap -4..+1) = A |
As of July 14, 2026, the stock is trading at USD 144.98 with a total of 406,754 shares traded. Over the past week, the price has changed by -4.31%, over one month by -6.09%, over three months by +12.50% and over the past year by +227.12%.
Current recommended Stop Loss: 127.90 (which is 11.8% or 2.1 ATR below the current price).
Sphere Entertainment Co. has received a consensus analysts rating of 3.80. Therefore, it is recommended to hold SPHR.
- StrongBuy: 4
- Buy: 2
- Hold: 3
- Sell: 0
- StrongSell: 1
| Analysts Target Price | 174 | 20% |
P/E Trailing = 50.8395
P/E Forward = 28.4091
P/S = 4.1035
P/B = 2.4055
Revenue TTM = 1.33b USD
EBIT TTM = 211.5m USD
EBITDA TTM = 548.0m USD
Long Term Debt = 767.4m USD (from longTermDebt, last fiscal year)
Short Term Debt = 80.2m USD (from shortTermDebt, last quarter)
Debt = 1.09b USD (from shortLongTermDebtTotal, last quarter) + Leases 128.0m
Net Debt = 568.2m USD (calculated: Debt 1.09b - CCE 521.3m)
Enterprise Value = 6.01b USD (5.44b + Debt 1.09b - CCE 521.3m)
Interest Coverage Ratio = 4.04 (Ebit TTM 211.5m / Interest Expense TTM 52.4m)
EV/FCF = 18.02x (Enterprise Value 6.01b / FCF TTM 333.5m)
FCF Yield = 5.55% (FCF TTM 333.5m / Enterprise Value 6.01b)
FCF Margin = 25.15% (FCF TTM 333.5m / Revenue TTM 1.33b)
Net Margin = 9.04% (Net Income TTM 119.8m / Revenue TTM 1.33b)
Gross Margin = 48.29% ((Revenue TTM 1.33b - Cost of Revenue TTM 685.7m) / Revenue TTM)
Gross Margin QoQ = 34.26% (prev 58.57%)
Tobins Q-Ratio = 1.36 (Enterprise Value 6.01b / Total Assets 4.43b)
Interest Expense / Debt = 4.81% (Interest Expense 52.4m / Debt 1.09b)
Taxrate = 24.69% (39.3m / 159.1m)
NOPAT = 159.3m (EBIT 211.5m * (1 - 24.69%))
Current Ratio = 1.07 (Total Current Assets 792.5m / Total Current Liabilities 743.4m)
Debt / Equity = 0.49 (Debt 1.09b / totalStockholderEquity, last quarter 2.23b)
Debt / EBITDA = 1.04 (Net Debt 568.2m / EBITDA 548.0m)
Debt / FCF = 1.70 (Net Debt 568.2m / FCF TTM 333.5m)
Total Stockholder Equity = 2.22b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.78% (Net Income 119.8m / Total Assets 4.43b)
RoE = 5.40% (Net Income TTM 119.8m / Total Stockholder Equity 2.22b)
RoCE = 7.09% (EBIT 211.5m / Capital Employed (Equity 2.22b + L.T.Debt 767.4m))
RoIC = 4.30% (NOPAT 159.3m / Invested Capital 3.70b)
WACC = 10.89% (E(5.44b)/V(6.53b) * Re(12.34%) + D(1.09b)/V(6.53b) * Rd(4.81%) * (1-Tc(0.25)))
Discount Rate = 12.34% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 49.63 | Cagr: 0.71%
[DCF] Terminal Value 67.09% ; FCFF base≈333.5m ; Y1≈334.9m ; Y5≈354.7m
[DCF] Fair Price = 113.6 (EV 3.86b - Net Debt 568.2m = Equity 3.29b / Shares 28.9m; r=10.89% [WACC]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.30 | # QB: 0
Revenue Correlation: 86.60 | Revenue CAGR: 9.00% | SUE: N/A | # QB: 0
EPS current Quarter (2026-06-30): EPS=-1.20 | Chg30d=-38.95% | Revisions=-25% | Analysts=2
EPS next Quarter (2026-09-30): EPS=-1.07 | Chg30d=+6.96% | Revisions=+25% | Analysts=2
EPS current Year (2026-12-31): EPS=-1.68 | Chg30d=+20.00% | Revisions=+25% | GrowthEPS=-161.4% | GrowthRev=+12.3%
EPS next Year (2027-12-31): EPS=-1.23 | Chg30d=+35.53% | Revisions=+25% | GrowthEPS=+27.1% | GrowthRev=+1.6%
[Analyst] Revisions Ratio: +29% (up=3, down=1)