What is Sphere Entertainment's price / book?

Sphere Entertainment (SPHR) reported price / book of 1.9× in Q1 2026.

How has Sphere Entertainment's price / book changed year-over-year?

Sphere Entertainment's price / book increased by 238.8% year-over-year, from 0.5× to 1.9×.

What is the long-term trend for Sphere Entertainment's price / book?

Over 5 years (2020 to 2025), Sphere Entertainment's price / book has grown at a 19.6% compound annual growth rate (CAGR), from 0.6× to 1.5×.

What does price / book mean?

Market capitalization at the quarter end divided by shareholders' equity. The premium (or discount) the market assigns to the company's book equity.

Sphere Entertainment SPHR Price / book

Price / book at other companies

NetflixNFLX

13×-3.6×

Live Nation EntertainmentLYV

122.1×-50.3×

Walt DisneyDIS

1.7×+0.2×

Versant Media Group, Inc. VSNT

0.7×—

Fox CorporationFOXA

2.3×0.0×

PSK

Paramount Skydance Corporation Class B Common StockPSKY

0.9×—

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.

market cap/total stockholders equity=1.9×

Based on the most recent quarter.

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 price / book?: Sphere Entertainment (SPHR) reported price / book of 1.9× in Q1 2026.
How has Sphere Entertainment's price / book changed year-over-year?: Sphere Entertainment's price / book increased by 238.8% year-over-year, from 0.5× to 1.9×.
What is the long-term trend for Sphere Entertainment's price / book?: Over 5 years (2020 to 2025), Sphere Entertainment's price / book has grown at a 19.6% compound annual growth rate (CAGR), from 0.6× to 1.5×.
What does price / book mean?: Market capitalization at the quarter end divided by shareholders' equity. The premium (or discount) the market assigns to the company's book equity.