Sphere Entertainment (SPHR) financial statements
Sphere Entertainment reported revenue of $1.2B in fiscal 2025, up 3.0% a year over 7 years.
Net income was $33M and the operating margin -18.8%, against -3.2% in 2018.
The diluted share count rose 89% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Sphere Entertainment's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $989M | $1.0B | $763M | $648M | $610M | $574M | $1.0B | $1.2B |
| Selling, general and admin | $273M | $315M | $433M | $424M | $682M | — | — | — |
| Operating income | -$31M | -$46M | $235M | -$188M | -$166M | -$273M | -$341M | -$230M |
| Interest expense | $12M | $6M | $37M | $20M | $27M | $0 | $80M | — |
| Pre-tax income | -$29M | -$20M | $252M | -$161M | -$168M | $275M | -$360M | $57M |
| Income tax | -$31M | $443,000 | $102M | $39M | -$30M | $103M | -$136M | $24M |
| Net income | $7M | -$8M | $182M | -$148M | -$194M | $503M | -$201M | $33M |
| EPS (diluted) | $0.29 | -$0.35 | $5.20 | -$4.59 | -$5.77 | $14.40 | -$5.68 | $0.74 |
| Diluted shares | 24M | 24M | 35M | 34M | 34M | 35M | 35M | 45M |
| Operating margin | -3.2% | -4.3% | 30.8% | -29.1% | -27.2% | -47.6% | -33.2% | -18.8% |
| Net margin | 0.7% | -0.8% | 23.8% | -22.9% | -31.9% | 87.6% | -19.5% | 2.7% |
Balance sheet
Fiscal years, from Sphere Entertainment's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $1.2B | $1.2B | $1.4B | $1.5B | $829M | $132M | $560M | $508M |
| Receivables | — | $81M | $57M | $185M | $188M | — | — | — |
| Inventory | — | — | — | $10M | $14M | $0 | $12M | $14M |
| Total current assets | — | $1.3B | $1.4B | $1.9B | $1.2B | $624M | $866M | $810M |
| Property, plant and equipment | — | $1.3B | $1.7B | $2.2B | $2.2B | $3.3B | $3.2B | $2.7B |
| Goodwill | $148M | $166M | $499M | $457M | $457M | $457M | $470M | $345M |
| Total assets | — | $3.3B | $3.7B | $5.3B | $5.5B | $5.0B | $4.8B | $4.2B |
| Total current liabilities | — | $474M | $510M | $730M | $961M | $692M | $1.4B | $743M |
| Long-term debt | — | $49M | $28M | $1.7B | $930M | $1.1B | $523M | $767M |
| Total liabilities | — | $662M | $845M | $3.0B | $3.4B | $2.4B | $2.4B | $2.0B |
| Shareholders' equity | $2.5B | $2.6B | $2.9B | $2.2B | $2.0B | $2.6B | $2.4B | $2.2B |
| Net debt | -$1.2B | -$1.0B | -$1.1B | $188M | $167M | $1.1B | $812M | $323M |
Cash flow
Fiscal years, from Sphere Entertainment's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $144M | $101M | $308M | -$59M | $141M | $154M | -$20M | $243M |
| Capital spending | $187M | $184M | $455M | $456M | $757M | — | — | — |
| Free cash flow | -$43M | -$83M | -$147M | -$515M | -$615M | — | — | — |
| Stock-based compensation | $27M | $35M | $61M | $71M | $77M | $63M | $48M | $59M |
| Share buybacks (net) | — | — | -$294M | $0 | $0 | $0 | $0 | -$50M |
| Net borrowing | — | — | — | $630M | $725M | $303M | — | — |
| Free cash flow margin | -4.3% | -7.9% | -19.3% | -79.5% | -100.9% | — | — | — |
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What was Sphere Entertainment's revenue in 2025?
$1.2B in fiscal 2025, from its 10-K filing.
From Sphere Entertainment's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.