What is Sphere Entertainment's MSG networks — impairments?

Sphere Entertainment (SPHR) reported MSG networks — impairments of $0 in Q1 2026.

What does MSG networks — impairments mean?

Represents non-cash charges recognized when the carrying value of an asset or business unit exceeds its recoverable amount. This metric signals a decline in the expected future economic benefits of the segment's assets. High impairment levels often indicate strategic missteps or adverse shifts in the competitive landscape.

Sphere Entertainment (SPHR) MSG Networks — Impairments

Screener

Other segment segments

Sphere

$0—

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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:GoodwillImpairmentLoss.

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 item	Sphere	MSG Networks	Consolidated
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 — impairments?: Sphere Entertainment (SPHR) reported MSG networks — impairments of $0 in Q1 2026.
What does MSG networks — impairments mean?: Represents non-cash charges recognized when the carrying value of an asset or business unit exceeds its recoverable amount. This metric signals a decline in the expected future economic benefits of the segment's assets. High impairment levels often indicate strategic missteps or adverse shifts in the competitive landscape.