Sphere Entertainment Co. (SPHR) Key Metrics
SPHR valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $3.72B
- Enterprise value
- $5.24B
- P/E (TTM)
- — 10-yr median 4.6
- Forward P/E
- 28.4
- PEG ratio
- —
- Price / sales
- 2.7 10-yr median 1.4
- Price / book
- 2.2 10-yr median 0.4
- EV / EBITDA
- 27.3 10-yr median 12.8
- Dividend yield
- —
- Beta
- 1.60
SPHR key metrics, FY2017–FY2026
Fiscal year ended June 30, 2026 · U.S. dollarsSPHR valuation Price multiples at each fiscal year-end price.
SPHR returns How much profit the business earns on the capital it uses.
SPHR per-share figures Results divided by the shares outstanding at year-end.
SPHR financial health Debt, liquidity and how easily interest is covered.
SPHR efficiency & capital use Working capital cycle and where the cash goes.
SPHR valuation history
SPHR returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
SPHR debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
SPHR cash returned to shareholders
SPHR price vs earnings per share
SPHR key metrics
FY2017–FY2026| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $7.84B | $1.50B | $1.24B | $956.7M | $832.6M | $938.8M | $832.0M | — | — | — |
| Enterprise value | $8.28B | $2.46B | $2.20B | $2.15B | $1.17B | $1.43B | −$150.6M | — | — | — |
| P/E ratio | 234.6 | — | — | 1.9 | — | — | 4.6 | — | — | — |
| Price / sales | 6.4 | 1.5 | 1.2 | 1.7 | 1.4 | 1.4 | 0.6 | — | — | — |
| Price / book | 3.5 | 0.6 | 0.5 | 0.4 | 0.4 | 0.4 | 0.3 | — | — | — |
| Price / free cash flow | 41.0 | — | — | — | — | — | — | — | — | — |
| Price / operating cash flow | 32.2 | — | — | 6.2 | 5.9 | — | 8.7 | — | — | — |
| EV / sales | 6.8 | 2.4 | 2.1 | 3.7 | 1.9 | 2.2 | -0.1 | — | — | — |
| EV / EBITDA | 17.8 | 30.2 | — | 5.7 | — | 7.7 | — | — | — | — |
| EV / free cash flow | 43.3 | — | — | — | — | — | — | — | — | — |
| Earnings yield | 0.4% | −13.4% | −16.2% | 52.6% | −23.3% | −15.8% | 21.8% | — | — | — |
| Free cash flow yield | 2.4% | −20.6% | −25.0% | −106.8% | −79.7% | −79.0% | −42.8% | — | — | — |
| Dividend yield | 0.0% | — | 9.8% | 12.7% | 0.3% | 0.2% | 0.2% | — | — | — |
| Shareholder yield (dividends + buybacks) | 0.6% | 2.3% | 11.2% | 14.4% | 2.3% | 1.1% | 35.5% | — | — | — |
| Share price at fiscal year-end | $173.03 | $41.80 | $35.06 | $27.39 | $24.30 | $38.79 | $34.64 | — | — | — |
| Per share | ||||||||||
| Revenue per share | $26.93 | $28.64 | $29.09 | $16.43 | $17.81 | $26.75 | $59.79 | $43.72 | $41.22 | $29.92 |
| Earnings per share | $0.74 | −$5.60 | −$5.68 | $14.39 | −$5.67 | −$6.12 | $7.57 | −$0.34 | $0.29 | −$4.57 |
| Operating cash flow per share | $5.37 | −$0.55 | −$0.56 | $4.40 | $4.13 | −$11.96 | $4.00 | $4.23 | $6.02 | $4.05 |
| Free cash flow per share | $4.22 | −$8.63 | −$8.76 | −$29.24 | −$19.38 | −$30.64 | −$14.84 | −$3.85 | −$1.79 | $2.29 |
| Cash per share | $11.51 | $15.61 | $15.86 | $3.78 | $21.82 | $62.67 | $51.79 | $49.62 | $51.09 | $52.09 |
| Book value per share | $49.30 | $67.36 | $68.43 | $73.97 | $57.31 | $89.59 | $118.91 | $107.20 | $103.29 | $101.32 |
| Tangible book value per share | $41.21 | $55.13 | $54.20 | $60.38 | $43.36 | $58.01 | $106.90 | $88.64 | $83.97 | $67.50 |
| Dividends per share | $0.00 | — | $3.44 | $3.48 | $0.07 | $0.07 | $0.07 | — | — | — |
| Capex per share | $1.16 | $8.08 | $8.21 | $33.64 | $23.51 | $18.68 | $18.84 | $8.07 | $7.81 | $1.76 |
| Debt per share | $21.23 | $42.35 | $43.02 | $37.83 | $31.72 | $83.11 | $10.87 | $2.28 | $4.41 | $4.44 |
| Shares outstanding | 45.3M | 35.9M | 35.3M | 34.9M | 34.3M | 24.2M | 24.0M | 24.0M | 24.0M | 23.8M |
| Change in shares outstanding | +26.3% | +1.6% | +1.1% | +2.0% | +41.5% | +0.8% | +0.1% | 0.0% | +0.9% | −4.0% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 1.4% | −8.3% | −8.0% | 22.1% | −9.4% | −5.9% | 6.7% | −0.3% | 0.3% | −4.3% |
| Return on invested capital (ROIC) | −2.9% | −5.2% | −7.5% | −5.6% | −5.3% | 1.4% | 8.5% | −2.6% | −1.9% | −6.4% |
| Return on assets (ROA) | 0.7% | −4.2% | −4.1% | 9.6% | −3.6% | −3.3% | 5.2% | −0.2% | 0.2% | −3.0% |
| Return on tangible assets | 0.8% | −4.6% | −4.7% | 11.2% | −3.9% | −3.3% | 5.3% | −0.3% | 0.2% | −3.7% |
| Free cash flow margin | 15.7% | −30.1% | −30.1% | −178.0% | −108.8% | −114.5% | −24.8% | −8.8% | −4.3% | 7.7% |
| Income quality (OCF / net income) | 7.28 | — | — | 0.31 | — | — | 0.53 | — | 20.93 | — |
| Financial health | ||||||||||
| Total debt | $961.5M | $1.52B | $1.52B | $1.32B | $1.09B | $2.01B | $261.2M | $54.6M | $105.7M | $105.4M |
| Cash & short-term investments | $521.3M | $559.8M | $559.8M | $132.0M | $747.3M | $1.52B | $1.24B | $1.19B | $1.23B | $1.24B |
| Net debt | $440.2M | $959.0M | $959.0M | $1.19B | $339.2M | $494.6M | −$982.6M | −$1.14B | −$1.12B | −$1.13B |
| Debt / equity | 0.43 | 0.63 | 0.63 | 0.51 | 0.55 | 0.93 | 0.09 | 0.02 | 0.04 | 0.04 |
| Debt / assets | 0.22 | 0.32 | 0.32 | 0.27 | 0.20 | 0.38 | 0.07 | 0.02 | 0.03 | 0.03 |
| Net debt / EBITDA | 0.95 | 11.77 | — | 3.14 | — | 2.66 | −2.46 | −11.97 | −11.76 | — |
| Current ratio | 1.07 | 0.63 | 0.63 | 0.90 | 1.27 | 2.57 | 2.80 | 2.84 | 2.80 | 1.90 |
| Quick ratio | 1.05 | 0.62 | 0.62 | 0.43 | 0.92 | 2.43 | 2.64 | 2.77 | 2.76 | 1.90 |
| Interest coverage | -2.1 | -2.8 | -4.3 | -2.4 | -8.1 | 3.2 | 6.4 | -8.2 | -2.6 | -51.1 |
| Working capital | $49.2M | −$508.0M | −$508.0M | −$68.2M | $257.6M | $1.14B | $916.5M | $872.7M | $869.5M | $687.7M |
| Invested capital | $2.67B | $3.37B | $3.37B | $3.77B | $2.30B | $2.66B | $1.87B | $1.44B | $1.36B | $1.28B |
| Tangible asset value | $1.87B | $1.98B | $1.91B | $2.11B | $1.68B | $1.55B | $2.60B | $2.21B | $2.10B | $1.70B |
| Net current asset value | −$1.41B | −$1.51B | −$1.51B | −$1.77B | −$2.14B | −$1.10B | $581.7M | $684.5M | $631.9M | $237.5M |
| Graham number | $28.60 | — | — | $154.78 | — | — | $142.29 | — | $25.85 | — |
| Graham net-net per share | −$33.43 | −$46.60 | −$46.05 | −$56.50 | −$68.63 | −$51.29 | $20.90 | $25.53 | $23.97 | $4.31 |
| Capital allocation | ||||||||||
| Dividends paid | $0 | — | $121.5M | $121.5M | $2.3M | $1.8M | $1.8M | — | — | — |
| Share buybacks (net) | $50.0M | $34.6M | $16.5M | $16.6M | $16.7M | $8.2M | $293.5M | — | — | — |
| Dividend payout ratio | 0.0% | — | — | 24.2% | — | — | 1.0% | — | — | — |
| Dividends + buybacks / free cash flow | 26.2% | — | — | — | — | — | — | — | — | — |
| Capex / revenue | 4.3% | 28.2% | 28.2% | 204.8% | 132.0% | 69.8% | 31.5% | 18.5% | 18.9% | 5.9% |
| Capex / operating cash flow | 21.5% | — | — | 765.0% | 569.7% | — | 471.1% | 191.0% | 129.8% | 43.4% |
| Capex / depreciation | 0.16 | 0.80 | 1.13 | 11.37 | 6.46 | 3.94 | 4.31 | 1.77 | 1.67 | 0.43 |
| Stock-based compensation / revenue | 4.8% | 6.6% | 4.7% | 10.9% | 12.6% | 8.2% | 2.9% | 3.4% | 2.8% | 3.1% |
| SG&A / revenue | 36.2% | 37.1% | 37.1% | 78.8% | 68.8% | 46.6% | 28.0% | 30.0% | 27.6% | 27.3% |
| Efficiency | ||||||||||
| Days sales outstanding | 57.9 | 75.0 | 71.4 | 91.1 | 102.6 | 84.7 | 22.1 | 29.9 | 34.0 | 45.7 |
| Days of inventory on hand | 8.4 | 5.6 | 112.9 | 355.3 | 251.0 | 125.9 | 26.3 | 14.3 | 10.6 | — |
| Days payables outstanding | 12.2 | 7.6 | 19.5 | 22.2 | 16.3 | 30.5 | 9.5 | 14.2 | 15.0 | 13.4 |
| Cash conversion cycle (days) | 54.1 | 72.9 | 164.8 | 424.2 | 337.3 | 180.1 | 38.9 | 30.0 | 29.6 | 32.3 |
| Receivables turnover | 6.30 | 4.87 | 5.11 | 4.01 | 3.56 | 4.31 | 16.53 | 12.19 | 10.72 | 7.99 |
| Payables turnover | 29.97 | 47.80 | 18.72 | 16.43 | 22.35 | 11.97 | 38.34 | 25.67 | 24.26 | 27.20 |
| Inventory turnover | 43.64 | 65.72 | 3.23 | 1.03 | 1.45 | 2.90 | 13.87 | 25.57 | 34.56 | — |
| Asset turnover | 0.26 | 0.21 | 0.21 | 0.11 | 0.11 | 0.14 | 0.41 | 0.32 | 0.28 | 0.20 |
| Average receivables | $193.6M | $210.9M | $200.8M | $143.3M | $171.4M | $150.3M | $86.9M | $86.0M | $92.3M | $89.0M |
| Average payables | $19.7M | $16.8M | $29.3M | $20.8M | $14.3M | $22.0M | $20.6M | $26.1M | $26.2M | $19.0M |
| Average inventory | $13.5M | $12.2M | $169.5M | $333.1M | $220.3M | $90.7M | $57.0M | $26.2M | $18.4M | — |
| Intangibles / total assets | 8.3% | 9.2% | 10.5% | 9.5% | 8.7% | 14.4% | 7.7% | 13.4% | 14.1% | 21.7% |
Computed from SPHR's annual financial statements (latest annual report filed July 30, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
SPHR valuation and financial ratios
At the end of fiscal 2026 (June 30, 2026), Sphere Entertainment traded at 234.6 times earnings, against a 10-year median of 4.6. Sphere Entertainment earned a return on equity of 1.4% and a return on invested capital of −2.9% in fiscal 2026. It ended the year with $961.5 million of debt and $521.3 million in cash and short-term investments, net debt of $440.2 million. It returned $50.0 million to shareholders: $0 in dividends and $50.0 million in share buybacks, 26% of free cash flow. The share count rose 90.6% from 23.8M to 45.3M over 9 years.
See the SPHR income statement, the SPHR chart for price history, or the SPHR stock overview for the latest quote and news.
SPHR key metrics FAQ
What is Sphere Entertainment's P/E ratio?
Sphere Entertainment traded at 234.6 times earnings at the end of fiscal 2026.
What is Sphere Entertainment's EV/EBITDA?
Sphere Entertainment's enterprise value was 17.8 times EBITDA at the end of fiscal 2026 (enterprise value $8.3 billion, EBITDA $464.2 million); the current EV/EBITDA is 27.3.
What is Sphere Entertainment's return on equity?
Sphere Entertainment's return on equity (ROE) was 1.4% in fiscal 2026: net income of $33.4 million on average shareholders' equity of $2.3 billion.
What is Sphere Entertainment's ROIC?
Sphere Entertainment's return on invested capital was −2.9% in fiscal 2026, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Sphere Entertainment have?
Sphere Entertainment had total debt of $961.5 million at the end of fiscal 2026, a debt-to-equity ratio of 0.43 and $440.2 million of net debt (0.95 times EBITDA).
Does Sphere Entertainment pay a dividend?
Sphere Entertainment did not pay a dividend in fiscal 2026.
Does Sphere Entertainment buy back its shares?
Yes. Sphere Entertainment spent $50.0 million on net share repurchases in fiscal 2026 Shares outstanding changed +26.3% over the year, to 45.3M..
What is Sphere Entertainment's free cash flow yield?
Sphere Entertainment generated $191.0 million of free cash flow in fiscal 2026, a free cash flow yield of 2.4% on its market value at year-end ($7.8 billion).
What is Sphere Entertainment's current ratio?
Sphere Entertainment's current ratio was 1.07 at the end of fiscal 2026: current assets were 1.07 times current liabilities.