Is the business good?
How good a business is SPHR?
Sphere Entertainment Co. earns −5.0% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
−5.0%
Return on invested capital · cost of capital 9.0% · 14 points below what the capital costs: growth destroys value
- Operating margin
- −11%
Operating margin · Entertainment median 12% · 12 months to Q2 2027
- Share count, year on year
- −19%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | 16% |
| FY2021 | −29% |
| FY2022 | −27% |
| FY2023 | −48% |
| FY2024 | −33% |
| FY2026 | −19% |
Details›
- Operating margin12 months to Q2 2027
- −11%
- Net margin12 months to Q2 2027
- −5.2%
- Revenue, trailing twelve months
- $1.36B
- Net income, trailing twelve months
- −$70M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- −5.0%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.