SPHR Sphere Entertainment Co.

Overview and Growth

In fiscal 2025, Sphere Entertainment Co. recorded $1.22B of revenue, net income of $33.41M, and an operating cash inflow of $243.35M. Revenue of $1.22B sets the scale for evaluating how effectively sales translated into profit and cash during the year. The company reported diluted EPS of $0.74, adding a shareholder-level measure to the absolute income figures considered below. Diluted shares averaged 45.30M; this is the reported share base over which the company’s diluted per-share earnings were spread. The company employed $4.21B of total assets, the balance-sheet base supporting its current operating and cash-flow results. The revenue-to-assets relationship was 0.29x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

Operations produced a $229.56M operating loss before non-operating and tax effects. The operating loss equaled 18.8% of revenue, showing the scale of the operating deficit relative to sales. After all reported below-operating-line items, the company recorded net income of $33.41M for the fiscal year. Measured against reported revenue, net income produced a 2.7% margin after operating costs and the remaining recognized items. Reported EBITDA totaled $106.85M, adding a pre-interest, tax, depreciation, and amortization perspective to the profitability profile. Before income taxes, the company reported $57.22M of earnings, providing a bridge between the operating result and final net income. The pretax margin was 4.7%, relating income before taxes directly to revenue. Income tax expense totaled $23.81M, providing the reported tax component that separates pretax and after-tax earnings. Relative to pretax income, the tax provision measured 41.6%, quantifying the portion of pre-tax earnings paid in income tax. The relationship between net income and period-end equity was 1.5%, indicating the profitability achieved on book capital. Net income represented 0.8% of period-end assets, placing the company’s bottom-line result against the total resource base employed.

Liquidity and Capital Structure

Total assets were $4.21B, supported by $1.98B of liabilities and $2.23B of shareholder equity. Current assets were $810.17M against $743.37M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. Current assets covered current liabilities by 1.09x, leaving a positive buffer for near-term obligations. Reported cash and equivalents were $521.26M, separating immediately recognizable cash resources from the rest of the current-asset base. Cash and equivalents represented 70.1% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. The company carried $830.45M of total debt at period end, which frames its leverage and debt-service burden. Debt equaled 0.37x of book equity, describing the relative scale of borrowing and shareholder capital. Debt represented 19.7% of total assets, placing borrowing in the context of the company’s full resource base. Equity equaled 53.0% of assets, showing the shareholder-capital layer within the company’s balance sheet. The liabilities-to-assets relationship was 47.0%, placing reported obligations against the full positive asset balance. Cash and equivalents equaled 12.4% of total assets, showing the liquid cash component within the company’s broader resource base.

Cash Flow and Earnings Quality

Operating activities produced a cash inflow of $243.35M, giving the cash-flow counterpart to the accrual-based profit measures reported for the year. The operating-cash-flow-to-net-income relationship was 7.28x, comparing cash generated by operations with the bottom-line earnings result.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Sep 24, 2026.