Where do Sphere Entertainment's ratios come from?

Every ratio is computed from Sphere Entertainment's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Net margin	9%+6.3pp	2.7%+8.9pp	-6.2%+0.6pp	-6.8%+20.2pp	-27%-4.5pp
Returns
Return on equity	5.5%+4.0pp	1.5%+4.3pp	-2.8%0.0pp	-2.9%+8.7pp	-11.6%-1.7pp
Return on invested capital	-5.3%+2.8pp	-8.1%-3.3pp	-4.8%-0.4pp	-4.4%+4.9pp	-9.3%-1.4pp
Efficiency
Asset turnover	0.3×0.0×	0.3×0.0×	0.2×0.0×	0.2×0.0×	0.2×0.0×
Liquidity
Current ratio	1.2×+0.1×	1.1×+0.1×	1×-0.2×	1.1×+0.6×	0.5×0.0×
Leverage
Debt-to-equity	0.4×0.0×	0.4×0.0×	0.5×0.0×	0.4×-0.2×	0.7×0.0×
Net debt / EBITDA	1.7×-2.7×	4.4×—	——	——	——
Per Share
Book value per share	$62.65+27.1%	$49.30-17.2%	$59.53+15.4%	$51.59-13.0%	$59.32-4.9%
Valuation
Market capitalization	$4.17B+24.1%	$3.36B+50.1%	$2.24B+52.2%	$1.47B+25.4%	$1.17B-18.8%
Price / earnings	34.8×-65.7×	100.5×—	——	——	——
Price / sales	3.1×+0.4×	2.8×+0.6×	2.2×+0.7×	1.5×+0.3×	1.2×-0.2×
Price / book	1.9×+0.4×	1.5×+0.5×	1×+0.4×	0.6×+0.1×	0.5×-0.1×
EV / EBITDA	24×-13.8×	37.8×—	——	——	——

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Questions, answered.

Where do Sphere Entertainment's ratios come from?: Every ratio is computed from Sphere Entertainment's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.