What is Sphere Entertainment's free cash flow yield?

Sphere Entertainment (SPHR) reported free cash flow yield of 8% in Q1 2026.

How has Sphere Entertainment's free cash flow yield changed year-over-year?

Sphere Entertainment's free cash flow yield increased by 124.9% year-over-year, from -32.2% to 8%.

What does free cash flow yield mean?

Trailing-twelve-month free cash flow divided by market capitalization at the quarter end. The cash return the business generates relative to its market price.

Sphere Entertainment SPHR Free cash flow yield

Free cash flow yield at other companies

NetflixNFLX

2.9%+1.1pp

Madison Square Garden SportsMSGS

0.5%—

Nexstar Media Group, Inc.NXST

12.9%-8.6pp

Fox CorporationFOXA

8.6%-0.7pp

Warner Bros. Discovery, Inc.WBD

3.4%-13.1pp

ComcastCMCSA

19.7%+8.0pp

Other financials

Income statement

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Revenue$386.4M+37.7%

Operating income$7.2M+109%

Net income$4.5M+105%

EPS (diluted)-$0.04+98.2%

Balance sheet

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Cash & equivalents$630.2M+31.8%

Total debt$938.4M-35.8%

Total equity$2.2B+4.9%

Total assets$4.2B-5.1%

Cash flow

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Operating cash flow$136.2M+2,046%

CapEx$4.9M-72.1%

Free cash flow$131.4M+1,279%

Valuation

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Market cap$5.63B+256%

Enterprise value$5.94B+108%

P/E47×—

P/S4.3×+2.6×

Profitability

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Operating margin-28.1%-4.3pp

Net margin9%+5.2pp

FCF margin25.2%+15.7pp

Returns & leverage

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Return on equity5.5%+3.2pp

Debt / equity0.4×-0.3×

Current ratio1.2×+0.7×

Where this comes from

Calculated from Sphere Entertainment’s reported figures.

free cash flow/market cap=8%

Based on trailing twelve months.

The official record: Sphere Entertainment’s 10-Q, filed May 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Sphere Entertainment's free cash flow yield?: Sphere Entertainment (SPHR) reported free cash flow yield of 8% in Q1 2026.
How has Sphere Entertainment's free cash flow yield changed year-over-year?: Sphere Entertainment's free cash flow yield increased by 124.9% year-over-year, from -32.2% to 8%.
What does free cash flow yield mean?: Trailing-twelve-month free cash flow divided by market capitalization at the quarter end. The cash return the business generates relative to its market price.