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Sphere Entertainment SPHR MSG Networks — Overhead expenses

Other segment segments

Sphere
$106.6M+10.6%

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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:CostOfGoodsAndServicesSoldOverhead.

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 itemThree Months Ended / SphereThree Months Ended / MSG NetworksThree Months Ended / Total
Rights fee expense50,64650,646
Network programming and production costs19,77519,775
Other direct operating expenses (a)4,8004,800
Overhead expenses(b)106,59615,107121,703
Other segment expenses(c)85,0262,83487,860
Operating (loss) income$(24,883)$32,085$7,202
Other income (expense):
Loss on extinguishment of debt(2,071)

Item 1. Financial Statements

FAQ

What is Sphere Entertainment's MSG networks — overhead expenses?
Sphere Entertainment (SPHR) reported MSG networks — overhead expenses of $15.11M in Q1 2026.
How has Sphere Entertainment's MSG networks — overhead expenses changed year-over-year?
Sphere Entertainment's MSG networks — overhead expenses decreased by 15.4% year-over-year, from $17.87M to $15.11M.
What is the long-term trend for Sphere Entertainment's MSG networks — overhead expenses?
Over 2 years (2023 to 2025), Sphere Entertainment's MSG networks — overhead expenses has grown at a -35.7% compound annual growth rate (CAGR), from $126.48M to $52.32M.
What does MSG networks — overhead expenses mean?
Represents the indirect administrative and general costs required to support the segment's infrastructure and management. These expenses are essential for maintaining business continuity but do not directly correlate with specific revenue-generating events.

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