NYSE · SPHR
Sphere Entertainment Co.
Communication Services · Entertainment
$134.95▼ 2.72% ($3.77)today
As of 3:07 PM ET
Market cap
$4.86B
P/E
Valuation
Revenue & margin DCF
Verdict: fairly priced. Price between Base and Bull.
The price needs 13.3% revenue growth a year for 10 years. Our scenarios assume 7.5–12.9%.
That's below its past 4-year pace of 18.9%.
Value per share
Base case
$111.22
Price used $134.95 is 21% above this
USD · TTM ending Jun 30, 2026 · Price Sep 29, 7:07 PM UTC
Starting margins use a cash-flow proxy. Review the reconciliation to reported operating earnings.
Revenue each value needs
Revenue today $1.2B. The price needs $4.2B by 2036. Base case: $3.3B. At its recent pace: $6.9B. Bear to Bull: $2.5B to $4.1B.
Revenue today $1.2B. The price needs $4.2B by 2036. Base case: $3.3B. At its recent pace: $6.9B. Bear to Bull: $2.5B to $4.1B.
Revenue in 2036
today $1.2B
+$969Mmore than the Base case · 1.3×
Value per share · Base case
$111.22
Price $134.95
21% above this
- 10-yr revenue CAGR
- 10.3%
- Ending operating margin
- 30.0%
- Discount rate
- 12.5%
Starting margins use a cash-flow proxy. Review the reconciliation to reported operating earnings.
USD · TTM ending Jun 30, 2026 · Price Sep 29, 7:07 PM UTC
What each scenario assumes. Click a column to start from it.
Price vs Fundamentals
Why The Stock Is Moving
Note: The most recent financial data is over 3 months old. Metrics shown may not reflect the latest reporting period.
What changed
The stock rose 117.66% over the last year. Revenue grew 23.41% over the trailing twelve months. Operating margin moved from -35.41% to -5.65%. Free cash flow grew 915.55% over the trailing twelve months.
What the market seems to be pricing
The stock is trading toward the richer end of its historical P/E range (89th percentile) while business metrics are improving. More of the upside is already embedded in the multiple now.
What would invalidate this read
Operating margin is at -5.65% — continued expansion would be needed to justify the premium. Revenue growth of 23.41% is encouraging, but any deceleration puts the stretched multiple at risk. This read changes if revenue, margins, and cash flow continue to improve faster than expected — in that case the richer multiple could still prove conservative.
Return analysis
Company profile
Sphere Entertainment Co. is a prominent player in the entertainment sector, specializing in orchestrating, staging, and hosting a diverse array of live events.
Market multiples
Stock splits
Every 200 shares became 433
Profitability & growth
Analyst consensus
11
Buy
3
Hold
0
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
Nov 3, 2026
Q1 FY27 · EPS est -$1.54 · Revenue est $284.26M
View
Institutional Sentiment
Sphere Entertainment Co. · SPHR
From Form 13F filings (managers with $100M+). Filings land up to 45 days after quarter end — read this as positioning context, not live fund flow.