(SPHR) Sphere Entertainment Co. - Overview
Stock: Sphere, Venue, Media, Streaming, Networks
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 48.0% |
| Relative Tail Risk | -7.83% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.53 |
| Alpha | 82.65 |
| Character TTM | |
|---|---|
| Beta | 1.722 |
| Beta Downside | 1.972 |
| Drawdowns 3y | |
|---|---|
| Max DD | 52.29% |
| CAGR/Max DD | 1.12 |
Description: SPHR Sphere Entertainment Co. January 16, 2026
Sphere Entertainment Co. (NYSE: SPHR) is a U.S.-based live-entertainment and media firm that operates two primary segments: the “Sphere” segment, which delivers multi-sensory, technology-driven venue experiences, and MSG Networks, which runs regional sports and entertainment cable channels plus direct-to-consumer streaming services that carry live local games and related programming.
Formerly Madison Square Garden Entertainment Corp., the company rebranded to Sphere Entertainment in April 2023. Founded in 2006 and headquartered in New York, it sits in the GICS “Movies & Entertainment” sub-industry and trades as a common stock.
Key recent data points: FY 2023 revenue was approximately $1.1 billion, with an operating margin of 12 %-a modest improvement as ticket-sale volumes recovered from pandemic lows. The MSG Networks streaming platform added roughly 250,000 paid subscribers in the last quarter, reflecting broader consumer willingness to pay for premium live-sports content. Macro-level drivers include discretionary-spending trends tied to U.S. consumer confidence and inflation-adjusted ticket pricing, while the sector’s shift toward immersive, tech-enhanced venues (e.g., AR/VR integration) is a long-term tailwind for the Sphere segment.
For a deeper quantitative view, the ValueRay platform offers a granular breakdown of SPHR’s financial metrics and peer comparisons.
Piotroski VR‑10 (Strict, 0-10) 4.5
| Net Income: -101.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA 4.10 > 1.0 |
| NWC/Revenue: -61.73% < 20% (prev -49.20%; Δ -12.53% < -1%) |
| CFO/TA 0.04 > 3% & CFO 179.3m > Net Income -101.2m |
| Net Debt (983.6m) to EBITDA (325.6m): 3.02 < 3 |
| Current Ratio: 0.53 > 1.5 & < 3 |
| Outstanding Shares: last quarter (36.2m) vs 12m ago 1.51% < -2% |
| Gross Margin: 46.73% > 18% (prev 0.34%; Δ 4638 % > 0.5%) |
| Asset Turnover: 23.15% > 50% (prev 25.64%; Δ -2.49% > 0%) |
| Interest Coverage Ratio: -0.07 > 6 (EBITDA TTM 325.6m / Interest Expense TTM 91.9m) |
Altman Z'' -1.32
| A: -0.15 (Total Current Assets 735.1m - Total Current Liabilities 1.38b) / Total Assets 4.45b |
| B: -0.07 (Retained Earnings -301.8m / Total Assets 4.45b) |
| C: -0.00 (EBIT TTM -6.70m / Avg Total Assets 4.52b) |
| D: -0.13 (Book Value of Equity -307.0m / Total Liabilities 2.31b) |
| Altman-Z'' Score: -1.32 = CCC |
Beneish M -2.60
| DSRI: 1.75 (Receivables 197.5m/126.7m, Revenue 1.05b/1.18b) |
| GMI: 0.73 (GM 46.73% / 34.34%) |
| AQI: 1.33 (AQ_t 0.19 / AQ_t-1 0.14) |
| SGI: 0.89 (Revenue 1.05b / 1.18b) |
| TATA: -0.06 (NI -101.2m - CFO 179.3m) / TA 4.45b) |
| Beneish M-Score: -2.60 (Cap -4..+1) = A |
What is the price of SPHR shares?
Over the past week, the price has changed by -0.72%, over one month by -1.29%, over three months by +41.71% and over the past year by +106.87%.
Is SPHR a buy, sell or hold?
- StrongBuy: 4
- Buy: 2
- Hold: 3
- Sell: 0
- StrongSell: 1
What are the forecasts/targets for the SPHR price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 105.7 | 10.7% |
| Analysts Target Price | 105.7 | 10.7% |
| ValueRay Target Price | 122.8 | 28.6% |
SPHR Fundamental Data Overview January 24, 2026
P/S = 3.2929
P/B = 1.5264
Revenue TTM = 1.05b USD
EBIT TTM = -6.70m USD
EBITDA TTM = 325.6m USD
Long Term Debt = 786.1m USD (from longTermDebt, last quarter)
Short Term Debt = 822.7m USD (from shortTermDebt, last quarter)
Debt = 1.46b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 983.6m USD (from netDebt column, last quarter)
Enterprise Value = 4.54b USD (3.54b + Debt 1.46b - CCE 465.0m)
Interest Coverage Ratio = -0.07 (Ebit TTM -6.70m / Interest Expense TTM 91.9m)
EV/FCF = 26.20x (Enterprise Value 4.54b / FCF TTM 173.2m)
FCF Yield = 3.82% (FCF TTM 173.2m / Enterprise Value 4.54b)
FCF Margin = 16.55% (FCF TTM 173.2m / Revenue TTM 1.05b)
Net Margin = -9.68% (Net Income TTM -101.2m / Revenue TTM 1.05b)
Gross Margin = 46.73% ((Revenue TTM 1.05b - Cost of Revenue TTM 557.5m) / Revenue TTM)
Gross Margin QoQ = 47.82% (prev 53.54%)
Tobins Q-Ratio = 1.02 (Enterprise Value 4.54b / Total Assets 4.45b)
Interest Expense / Debt = 0.64% (Interest Expense 9.40m / Debt 1.46b)
Taxrate = 21.0% (US default 21%)
NOPAT = -5.29m (EBIT -6.70m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 0.53 (Total Current Assets 735.1m / Total Current Liabilities 1.38b)
Debt / Equity = 0.68 (Debt 1.46b / totalStockholderEquity, last quarter 2.14b)
Debt / EBITDA = 3.02 (Net Debt 983.6m / EBITDA 325.6m)
Debt / FCF = 5.68 (Net Debt 983.6m / FCF TTM 173.2m)
Total Stockholder Equity = 2.24b (last 4 quarters mean from totalStockholderEquity)
RoA = -2.24% (Net Income -101.2m / Total Assets 4.45b)
RoE = -4.51% (Net Income TTM -101.2m / Total Stockholder Equity 2.24b)
RoCE = -0.22% (EBIT -6.70m / Capital Employed (Equity 2.24b + L.T.Debt 786.1m))
RoIC = -0.16% (negative operating profit) (NOPAT -5.29m / Invested Capital 3.23b)
WACC = 8.83% (E(3.54b)/V(5.00b) * Re(12.26%) + D(1.46b)/V(5.00b) * Rd(0.64%) * (1-Tc(0.21)))
Discount Rate = 12.26% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 1.25%
[DCF Debug] Terminal Value 66.56% ; FCFF base≈173.2m ; Y1≈113.7m ; Y5≈51.9m
Fair Price DCF = N/A (negative equity: EV 886.7m - Net Debt 983.6m = -96.9m; debt exceeds intrinsic value)
[DCF Warning] FCF declining rapidly (-40.0%), DCF may be unreliable
EPS Correlation: -17.67 | EPS CAGR: -13.24% | SUE: 0.37 | # QB: 0
Revenue Correlation: 4.16 | Revenue CAGR: -16.51% | SUE: -0.10 | # QB: 0
EPS next Quarter (2026-03-31): EPS=-0.70 | Chg30d=+0.215 | Revisions Net=-1 | Analysts=1
EPS next Year (2026-12-31): EPS=-3.52 | Chg30d=+0.117 | Revisions Net=+1 | Growth EPS=-147.0% | Growth Revenue=+10.4%