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.

	FY'25	FY'24	FY'23	FY'22
Profitability
Net margin	2.7%+25.3pp	-22.5%-74.1pp	51.6%+67.6pp	-16%+1.2pp
EBITDA margin	8.2%+8.6pp	-0.4%—	——	-10.2%-4.7pp
Free cash flow margin	15.7%+43.3pp	-27.7%—	——	——
Returns
Return on equity	1.5%+11.4pp	-9.9%-26.6pp	16.7%+21.3pp	-4.6%+1.0pp
Return on assets	0.8%+5.7pp	-4.9%-11.9pp	7%+8.6pp	-1.7%+1.1pp
Return on invested capital	-8.1%-0.1pp	-8%+3.0pp	-10.9%-5.6pp	-5.3%+1.6pp
Efficiency
Asset turnover	0.3×+0.1×	0.2×+0.1×	0.1×0.0×	0.1×-0.1×
Liquidity
Current ratio	1.1×+0.5×	0.6×-0.1×	0.6×-0.3×	0.9×-0.9×
Quick ratio	1.1×+0.5×	0.5×-0.1×	0.6×-0.3×	0.9×-0.9×
Cash ratio	0.7×+0.3×	0.4×-0.1×	0.4×-0.1×	0.6×-0.9×
Leverage
Debt-to-equity	0.4×-0.2×	0.7×+0.1×	0.6×-0.6×	1.3×+0.2×
Debt-to-assets	0.2×-0.1×	0.3×0.0×	0.3×-0.1×	0.4×0.0×
Net debt / EBITDA	4.4×—	——	——	——
Per Share
Book value per share	$49.30-20.9%	$62.36-10.7%	$69.82+20.8%	$57.79-5.8%
Valuation
Market capitalization	$3.36B+133%	$1.44B+20.4%	$1.2B+66.5%	$720.39M-35.3%
Enterprise value	$3.8B+57.2%	$2.42B+14.7%	$2.11B-22.0%	$2.7B+34.4%
Price / earnings	100.5×—	——	3.2×—	——
Price / sales	2.8×+1.3×	1.4×-0.3×	1.7×+0.4×	1.2×-0.2×
Price / book	1.5×+0.8×	0.7×+0.2×	0.5×+0.1×	0.4×-0.2×
EV / EBITDA	37.8×—	——	——	——
EV / sales	3.1×+0.8×	2.4×-0.6×	2.9×-1.7×	4.6×+2.0×
Free cash flow yield	5.7%+25.4pp	-19.7%—	——	——
Earnings yield	1%+17.0pp	-16%-47.1pp	31.1%+44.2pp	-13.1%-1.1pp

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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.