8 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $1.2B | $33M | 0.0% | -18.8% | — | $693M | $508M |
| 2024 | $1.0B | -$201M | 0.0% | -33.3% | — | $1.4B | $560M |
| 2023 | $571M | $506M | 0.0% | -47.8% | — | $1.2B | $132M |
| 2022 | $608M | -$190M | 0.0% | -27.3% | -$615M | $996M | $747M |
| 2021 | $790M | -$396M | 0.0% | -23.8% | -$515M | $1.7B | $1.5B |
| 2020 | $1.4B | $182M | 0.0% | 16.4% | -$147M | $34M | $1.1B |
| 2019 | $1.0B | -$8M | 0.0% | -4.3% | -$83M | $55M | $1.1B |
| 2018 | $989M | $7M | 0.0% | -3.2% | -$43M | — | $1.2B |
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | $386M | $4M | 0.0% | 1.9% | — | $677M | $629M |
| Dec '25 | $394M | $65M | 0.0% | 7.3% | — | $693M | $508M |
| Sep '25 | $262M | -$101M | 0.0% | -49.5% | — | $734M | $385M |
| Jun '25 | $282M | $152M | 0.0% | -17.8% | — | $744M | $356M |
| Mar '25 | $280M | -$82M | 0.0% | -28.1% | — | $1.3B | $465M |
| Dec '24 | — | -$126M | — | — | — | $1.4B | $502M |
| Sep '24 | $227M | -$105M | 0.0% | -51.8% | — | $1.4B | $540M |
| Jun '24 | $273M | -$47M | 0.0% | -26.2% | — | $1.4B | $560M |
| Mar '24 | $321M | -$47M | 0.0% | -12.6% | — | $1.4B | — |
| Dec '23 | $313M | -$173M | 0.0% | -51.0% | — | $1.4B | $615M |
| Sep '23 | $117M | $66M | 0.0% | -59.5% | — | $1.2B | $434M |
| Jun '23 | $128M | $537M | 0.0% | -54.8% | — | $1.2B | $132M |
| Mar '23 | $161M | -$57M | 0.0% | -63.1% | — | $1.9B | — |
| Dec '22 | $159M | $68M | 0.0% | -31.3% | -$154M | $2.0B | $432M |
| Sep '22 | $122M | -$45M | 0.0% | -41.7% | -$353M | $1.7B | $441M |
| Jun '22 | -$258M | -$100M | 0.0% | 24.0% | -$205M | $996M | $747M |
| Mar '22 | $321M | -$17M | 0.0% | -6.9% | -$230M | $1.7B | $999M |
| Dec '21 | $487M | $2M | 0.0% | -6.0% | -$50M | $1.7B | $1.3B |
| Sep '21 | $292M | -$79M | 0.0% | -28.5% | -$130M | $1.7B | $1.3B |
| Jun '21 | $252M | -$38M | 0.0% | -17.5% | -$76M | $1.7B | $1.5B |
How the market has priced SPHR against its own fundamentals since 2023-04 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 5 years, Sphere Entertainment Co.'s revenue has declined 3.2% per year, and net income declined 28.7% per year. These are computed facts, not advice.
As of FY2025, Sphere Entertainment Co. reported $693M of total debt against $508M of cash.
In FY2025, gross margin was —, operating margin -18.8%, and net margin 2.7%.
As of Jun '26, Sphere Entertainment Co. traded at a price-to-earnings ratio of about 173.2× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.