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Sphere Entertainment SPHR Net debt

Discontinued — last reported Q1 '26

Net debt at other companies

WingstopWING

5.3×-0.3×

PBF EnergyPBF

0.6×+0.4×

SeaboardSEB

2×-0.4×

Sabra HealthcareSBRA

-0.2×-0.3×

TDS

Telephone and Data SystemsTDS

-0.2×-25.0×

Liberty GlobalLBTYB

8.1×-1.0×

Other financials

Income statement

Revenue$386.4M+37.7%

Operating income$7.2M+109%

Net income$4.5M+105%

EPS (diluted)-$0.04+98.2%

Balance sheet

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

Operating cash flow$136.2M+2,046%

CapEx$4.9M-72.1%

Free cash flow$131.4M+1,279%

Valuation

Market cap$5.63B+256%

Profitability

Operating margin-28.1%-4.3pp

Net margin9%+5.2pp

FCF margin25.2%+15.7pp

Returns & leverage

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.

$938.4Mtotal debt−$630.2Mcash and equivalents=$308.22M

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 net debt?: Sphere Entertainment (SPHR) reported net debt of $308.22M in Q1 2026.
How has Sphere Entertainment's net debt changed year-over-year?: Sphere Entertainment's net debt decreased by 68.7% year-over-year, from $983.62M to $308.22M.
What is the long-term trend for Sphere Entertainment's net debt?: Over 5 years (2020 to 2025), Sphere Entertainment's net debt has grown at a -13.3% compound annual growth rate (CAGR), from -$896.26M to $440.19M.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.