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Sphere Entertainment SPHR MSG Networks — Goodwill

Other segment segments

Sphere
$46.86M

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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$5.54B+262%
Enterprise value$5.85B+168%
P/E46.2×
P/S4.2×+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

Reported directly by Sphere Entertainment in its filing.

Tagged under the XBRL concept us-gaap:Goodwill.

The source filing: Sphere Entertainment’s 10-Q, filed May 5, 2026.

Filed
May 5, 2026, 5:23 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001628280-26-030740
Line itemSphereMSG NetworksConsolidated
Goodwill$46,864$424,508$471,372
Accumulated impairment losses(126,600)(126,600)
Balance at December 31, 2025$46,864$297,908$344,772
Acquisitions
Impairments
Balance at March 31, 2026$46,864$297,908$344,772

Item 1. Financial Statements

FAQ

What is Sphere Entertainment's MSG networks — goodwill?
Sphere Entertainment (SPHR) reported MSG networks — goodwill of $297.91M in Q1 2026.
How has Sphere Entertainment's MSG networks — goodwill changed year-over-year?
Sphere Entertainment's MSG networks — goodwill decreased by 18.0% year-over-year, from $363.31M to $297.91M.
What is the long-term trend for Sphere Entertainment's MSG networks — goodwill?
Over 2 years (2023 to 2025), Sphere Entertainment's MSG networks — goodwill has grown at a -11.8% compound annual growth rate (CAGR), from $1.7B to $1.32B.
What does MSG networks — goodwill mean?
Reflects the intangible asset value recorded when the segment acquires another business for a price exceeding the fair market value of its identifiable net assets. It represents the premium paid for brand reputation, customer loyalty, and synergies. Changes in this balance are critical for assessing long-term investment value and potential future impairment risks.

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