What is Sphere Entertainment's net margin?

Sphere Entertainment (SPHR) reported net margin of 9% in Q1 2026.

How has Sphere Entertainment's net margin changed year-over-year?

Sphere Entertainment's net margin increased by 133.5% year-over-year, from -27% to 9%.

What is the long-term trend for Sphere Entertainment's net margin?

Over 5 years (2020 to 2025), Sphere Entertainment's net margin has grown at a -32.0% compound annual growth rate (CAGR), from -18.8% to 2.7%.

What does net margin mean?

Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.

Sphere Entertainment SPHR Net margin

Net margin at other companies

NetflixNFLX

28.5%+5.4pp

Live Nation EntertainmentLYV

3.7%—

Walt DisneyDIS

14.7%+6.3pp

Madison Square Garden SportsMSGS

-2.1%-2.5pp

Versant Media Group, Inc. VSNT

19.8%-0.5pp

Fox CorporationFOXA

10.8%-1.0pp

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

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.

net income/total revenue=9%

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 net margin?: Sphere Entertainment (SPHR) reported net margin of 9% in Q1 2026.
How has Sphere Entertainment's net margin changed year-over-year?: Sphere Entertainment's net margin increased by 133.5% year-over-year, from -27% to 9%.
What is the long-term trend for Sphere Entertainment's net margin?: Over 5 years (2020 to 2025), Sphere Entertainment's net margin has grown at a -32.0% compound annual growth rate (CAGR), from -18.8% to 2.7%.
What does net margin mean?: Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.