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
EBITDA margin	14.1%+5.8pp	8.2%+10.7pp	-2.4%-0.9pp	-1.5%+2.3pp	-3.8%-3.4pp
Free cash flow margin	25.2%+9.5pp	15.7%+14.9pp	0.8%+9.5pp	-8.8%+29.5pp	-38.2%-10.5pp
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 assets	2.8%+2.0pp	0.8%+2.2pp	-1.5%0.0pp	-1.5%+4.2pp	-5.7%-0.8pp
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×
Quick ratio	1.2×+0.1×	1.1×+0.1×	0.9×-0.2×	1.1×+0.6×	0.5×0.0×
Cash ratio	0.8×+0.1×	0.7×+0.1×	0.6×-0.1×	0.7×+0.4×	0.3×0.0×
Leverage
Debt-to-equity	0.4×0.0×	0.4×0.0×	0.5×0.0×	0.4×-0.2×	0.7×0.0×
Debt-to-assets	0.2×0.0×	0.2×0.0×	0.2×0.0×	0.2×-0.1×	0.3×0.0×
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%
Enterprise value	$4.48B+17.9%	$3.8B+33.8%	$2.84B+34.0%	$2.12B-1.7%	$2.16B-10.8%
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×—	——	——	——
EV / sales	3.4×+0.3×	3.1×+0.4×	2.8×+0.6×	2.1×-0.1×	2.2×-0.2×
Free cash flow yield	8%+2.3pp	5.7%+5.3pp	0.4%+6.3pp	-5.9%+26.2pp	-32.2%-12.5pp
Earnings yield	2.9%+1.9pp	1%+3.8pp	-2.8%+1.8pp	-4.6%+18.1pp	-22.7%-6.7pp

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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.