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Sphere Entertainment (SPHR)

Market Price (6/7/2026): $142.29 | Market Cap: $5.1 BilSector: Communication Services | Industry: Movies & Entertainment

Sphere Entertainment (SPHR)

Market Price (6/7/2026): $142.29
Market Cap: $5.1 Bil
Sector: Communication Services
Industry: Movies & Entertainment

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 20%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 28%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 25%

Attractive yield
FCF Yield is 6.7%

Megatrend and thematic drivers
Megatrends include Experience Economy & Premiumization. Themes include Experiential Retail, and Travel & Leisure Tech.

Trading close to highs
Dist 52W High is -4.3%, Dist 3Y High is -4.3%

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -61 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -4.6%

Expensive valuation multiples
P/EPrice/Earnings or Price/(Net Income) is 42x

Stock price has recently run up significantly
12M Rtn12 month market price return is 270%

Significant short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 21%

0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 20%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 28%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 25%
2 Attractive yield
FCF Yield is 6.7%
3 Megatrend and thematic drivers
Megatrends include Experience Economy & Premiumization. Themes include Experiential Retail, and Travel & Leisure Tech.
4 Trading close to highs
Dist 52W High is -4.3%, Dist 3Y High is -4.3%
5 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -61 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -4.6%
6 Expensive valuation multiples
P/EPrice/Earnings or Price/(Net Income) is 42x
7 Stock price has recently run up significantly
12M Rtn12 month market price return is 270%
8 Significant short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 21%

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

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Updated on 6/5/2026

Sphere Entertainment (SPHR) stock has gained about 15% since 2/28/2026 because of the following key factors:

1. Strong Fiscal Q1 2026 Earnings Beat and Revenue Growth.

Sphere Entertainment reported its fiscal Q1 2026 results for the quarter ended March 31, 2026, significantly exceeding analyst expectations. The company posted an earnings per share (EPS) of -$0.04, substantially beating consensus estimates ranging from -$0.31 to -$0.455. Quarterly revenue increased by 37.7% year-over-year to $386.41 million, surpassing analyst forecasts of $313.41 million to $368.27 million. This strong performance was primarily driven by a 69% increase in the Sphere segment's revenue, which reached $266.0 million. The company's fiscal year-end changed from June 30 to December 31, effective December 31, 2024.

2. Successful Monetization and Programming of the Las Vegas Sphere.

The Sphere in Las Vegas continued to demonstrate strong operational success and monetization capabilities. "The Wizard of Oz at Sphere" surpassed its 500th showing in March 2026. The company secured new and extended major concert residencies, including Metallica for October 2026 and an extension of the Backstreet Boys residency to 56 nights. Robust interest from Exosphere advertisers and sponsors, along with new multi-year agreements such as with Evian, further highlighted the venue's strong demand and diverse revenue streams.

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Stock Movement Drivers

Fundamental Drivers

The 17.2% change in SPHR stock from 2/28/2026 to 6/6/2026 was primarily driven by a 230.1% change in the company's Net Income Margin (%).
(LTM values as of)22820266062026Change
Stock Price ($)119.01139.5017.2%
Change Contribution By: 
Total Revenues ($ Mil)1,2201,3268.7%
Net Income Margin (%)2.7%9.0%230.1%
P/E Multiple127.141.8-67.1%
Shares Outstanding (Mil)3636-0.5%
Cumulative Contribution17.2%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 6/6/2026
ReturnCorrelation
SPHR17.2% 
Market (SPY)7.8%60.0%
Sector (XLC)-5.1%55.2%

Fundamental Drivers

The 64.9% change in SPHR stock from 11/30/2025 to 6/6/2026 was primarily driven by a 29.9% change in the company's P/S Multiple.
(LTM values as of)113020256062026Change
Stock Price ($)84.59139.5064.9%
Change Contribution By: 
Total Revenues ($ Mil)1,0541,32625.8%
P/S Multiple2.93.829.9%
Shares Outstanding (Mil)36360.9%
Cumulative Contribution64.9%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 6/6/2026
ReturnCorrelation
SPHR64.9% 
Market (SPY)8.5%33.1%
Sector (XLC)-2.6%28.2%

Fundamental Drivers

The 270.0% change in SPHR stock from 5/31/2025 to 6/6/2026 was primarily driven by a 205.9% change in the company's P/S Multiple.
(LTM values as of)53120256062026Change
Stock Price ($)37.70139.50270.0%
Change Contribution By: 
Total Revenues ($ Mil)1,1031,32620.2%
P/S Multiple1.23.8205.9%
Shares Outstanding (Mil)36360.6%
Cumulative Contribution270.0%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2025 to 6/6/2026
ReturnCorrelation
SPHR270.0% 
Market (SPY)26.6%33.8%
Sector (XLC)11.5%33.3%

Fundamental Drivers

The 484.4% change in SPHR stock from 5/31/2023 to 6/6/2026 was primarily driven by a 949.4% change in the company's Total Revenues ($ Mil).
(LTM values as of)53120236062026Change
Stock Price ($)23.87139.50484.4%
Change Contribution By: 
Total Revenues ($ Mil)1261,326949.4%
P/S Multiple6.63.8-42.5%
Shares Outstanding (Mil)3536-3.2%
Cumulative Contribution484.4%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2023 to 6/6/2026
ReturnCorrelation
SPHR484.4% 
Market (SPY)83.4%43.9%
Sector (XLC)85.4%38.1%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
SPHR Return-33%-36%-24%19%136%50%35%
Peers Return8%-15%-13%44%32%7%61%
S&P 500 Return27%-19%24%23%16%11%102%

Monthly Win Rates [3]
SPHR Win Rate33%42%50%42%75%67% 
Peers Win Rate45%18%38%58%57%63% 
S&P 500 Win Rate75%42%67%75%67%67% 

Max Drawdowns [4]
SPHR Max Drawdown-48%-52%-65%-36%-50%-12% 
Peers Max Drawdown-33%-25%-39%-20%-24%-19% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 

[1] Cumulative total returns since the beginning of 2021
[2] Peers: MSGE, LYV, FOXA, SBGI, IMAX.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/5/2026 (YTD)

How Low Can It Go

EventSPHRS&P 500
2025 US Tariff Shock
  % Loss-49.3%-18.8%
  % Gain to Breakeven97.4%23.1%
  Time to Breakeven135 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-27.3%-9.5%
  % Gain to Breakeven37.5%10.5%
  Time to Breakeven64 days24 days
2023 SVB Regional Banking Crisis
  % Loss-64.2%-6.7%
  % Gain to Breakeven179.2%7.1%
  Time to Breakeven853 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-41.2%-24.5%
  % Gain to Breakeven69.9%32.4%
  Time to Breakeven1134 days427 days
2020 COVID-19 Crash
  % Loss-27.4%-33.7%
  % Gain to Breakeven37.8%50.9%
  Time to Breakeven251 days140 days

Compare to MSGE, LYV, FOXA, SBGI, IMAX

In The Past

Sphere Entertainment's stock fell -49.3% during the 2025 US Tariff Shock. Such a loss loss requires a 97.4% gain to breakeven.

Preserve Wealth

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Asset Allocation

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EventSPHRS&P 500
2025 US Tariff Shock
  % Loss-49.3%-18.8%
  % Gain to Breakeven97.4%23.1%
  Time to Breakeven135 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-27.3%-9.5%
  % Gain to Breakeven37.5%10.5%
  Time to Breakeven64 days24 days
2023 SVB Regional Banking Crisis
  % Loss-64.2%-6.7%
  % Gain to Breakeven179.2%7.1%
  Time to Breakeven853 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-41.2%-24.5%
  % Gain to Breakeven69.9%32.4%
  Time to Breakeven1134 days427 days
2020 COVID-19 Crash
  % Loss-27.4%-33.7%
  % Gain to Breakeven37.8%50.9%
  Time to Breakeven251 days140 days

Compare to MSGE, LYV, FOXA, SBGI, IMAX

In The Past

Sphere Entertainment's stock fell -49.3% during the 2025 US Tariff Shock. Such a loss loss requires a 97.4% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Sphere Entertainment (SPHR)

Madison Square Garden Entertainment Corp. engages in the entertainment business. It produces, presents, or hosts various live entertainment events, including concerts, family shows, and special events, as well as sporting events, such as professional boxing, college basketball and hockey, professional bull riding, mixed martial arts, and esports and wrestling in its venues, including Madison Square Garden, Hulu Theater at Madison Square Garden, Radio City Music Hall and Beacon Theatre, and The Chicago Theatre. The company also operates 61 entertainment dining and nightlife venues spanning 23 markets across five continents under the Tao, Marquee, Lavo, Beauty & Essex, Cathédrale, Hakkasan, and Omnia brand names; and creates and operates New England's premier music festival. In addition, it features the Radio City Rockettes, which serves as the star for its Christmas Spectacular at Radio City Music Hall. The company was founded in 2006 and is based in New York, New York.

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James L. Dolan, Executive Chairman and Chief Executive Officer

James L. Dolan is the Executive Chairman and Chief Executive Officer of Sphere Entertainment Co.. He is also recognized as the founder of Sphere Entertainment. Prior to his current role, he served as the CEO of Madison Square Garden Entertainment, which subsequently spun off Sphere Entertainment. The Dolan family maintains control over Sphere Entertainment.

Robert Langer, Executive Vice President, Chief Financial Officer and Treasurer

Robert Langer has served as Executive Vice President, Chief Financial Officer and Treasurer of Sphere Entertainment Co. since January 2025. Before joining Sphere Entertainment, he spent 25 years at The Walt Disney Company (1999–2024), where his most recent position was Global Leader of Enterprise-Wide Financial Planning and Corporate Strategy. In this role, his responsibilities included overseeing key finance processes, forecasts, annual budgets, long-range plans, and directing the corporate strategy group, which involved M&A activities and exploring strategic alternatives. Earlier in his career, he worked at Boston Consulting Group.

Jennifer Koester, President and Chief Operating Officer of Sphere

Jennifer Koester is the President and Chief Operating Officer of Sphere.

Laura Franco, Executive Vice President and General Counsel

Laura Franco holds the position of Executive Vice President and General Counsel.

Glenn Derry, Executive Vice President, MSG Ventures

Glenn Derry is the Executive Vice President of MSG Ventures. He is an Academy Award-winning technologist with over 30 years of experience in entertainment technology. In his role, Mr. Derry oversees various technology initiatives within MSG Ventures, a subsidiary of Sphere Entertainment focused on developing advanced technologies for live entertainment, including Sphere Studios and the broader Sphere platform.

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Sphere Entertainment Co. (SPHR) primarily operates in two distinct segments: its state-of-the-art Sphere venue, which focuses on immersive live entertainment and digital out-of-home advertising, and MSG Networks, dedicated to regional sports and entertainment broadcasting. The addressable markets for these main products and services are substantial and growing globally.

Sphere Segment (Immersive Live Entertainment and Digital Out-of-Home Advertising)

  • Live Entertainment Market: The global live entertainment market is projected to grow from USD 202.90 billion in 2025 to USD 270.29 billion by 2030, demonstrating a Compound Annual Growth Rate (CAGR) of 5.9%. This growth is significantly driven by an increasing preference for immersive and experiential live entertainment.
  • Immersive Entertainment Market: The global immersive entertainment market was valued at USD 92.61 billion in 2023 and is anticipated to reach USD 661.10 billion by 2032, expanding at a robust CAGR of 24.5% during the 2024-2032 forecast period. North America held the largest revenue share in the global immersive entertainment industry in 2025, accounting for 44% of the market. The U.S. immersive entertainment market alone was valued at USD 26.57 billion in 2023 and is expected to grow to USD 168.25 billion by 2032.
  • Digital Out-of-Home (DOOH) Advertising Market: The global digital out-of-home advertising market size was estimated at USD 28,254.5 million in 2024 and is projected to reach USD 42,484.3 million by 2031, with a CAGR of 6.00% from 2024. North America represents a significant portion of this market, holding more than 40% of the global revenue with a market size of USD 11,301.80 million in 2024, and is expected to grow at a CAGR of 4.2% from 2024 to 2031. Another estimate values the global DOOH market at approximately USD 21.94 billion in 2024, with a projection to reach USD 81.46 billion by 2034.
  • Immersive Content Creation Market: The global immersive content creation market, vital for generating experiences within the Sphere, was estimated at USD 15,681.0 million in 2024 and is projected to grow to USD 56,267.1 million by 2030, exhibiting a CAGR of 24.5% from 2025 to 2030. North America dominated this market in 2024, holding over 32% of the revenue share.

MSG Networks Segment (Regional Sports and Entertainment Networks, Direct-to-Consumer Streaming)

  • Virtual Event Platform Market: Given the direct-to-consumer streaming aspect of MSG Networks, the global virtual event platform market, which encompasses online events and content delivery, is a relevant addressable market. This market is valued at USD 15.99 billion in 2025 and is predicted to grow to approximately USD 41.12 billion by 2035, with a CAGR of 9.91% from 2026 to 2035. North America accounted for over 38% of this market share in 2025.
  • Digital Content Creation Market: More broadly, the digital content creation market, which includes the development and dissemination of digital media across various formats for platforms like streaming services, was valued at USD 32.28 billion globally in 2024 and is projected to reach USD 69.80 billion by 2033, with a CAGR of 13.9% from 2025 to 2033. North America is set to remain the dominant player in this global market, with a projected market value of approximately USD 9.62 billion in 2025, representing around 45.4% of the global share.

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Sphere Entertainment (SPHR) is expected to drive future revenue growth over the next 2-3 years through several key initiatives primarily centered around its unique Sphere venue and its strategic expansion.

  1. Increased Content and Event Programming at the Las Vegas Sphere: A primary driver of revenue growth for Sphere Entertainment is the continuous expansion and diversification of content and events hosted at the flagship Sphere venue in Las Vegas. Successful immersive productions, such as "The Wizard of Oz" and "Postcard from Earth," have demonstrated significant revenue-generating potential through ticket sales. The company plans to introduce new content, including "The Wizard of Oz 2.0" and "From the Edge," slated for release in late 2026. By increasing the number of shows and attracting diverse artists for concert residencies, Sphere Entertainment aims to maximize the utilization and revenue potential of the venue.

  2. Global Expansion of Sphere Venues, Including Smaller-Scale Models: Sphere Entertainment is actively pursuing a strategy of global expansion, which is anticipated to be a significant long-term revenue driver. The company has announced plans for a second U.S. Sphere in National Harbor, Maryland, projected to open within four years or less. Additionally, the pre-construction phase for a Sphere venue in Abu Dhabi is nearing completion, with the company actively engaged in discussions for various Sphere sizes (3,000, 6,000, and 18,000 seating capacities) in other international markets. This expansion often involves a "capital-free model," where partners fund the construction, enabling Sphere Entertainment to leverage its intellectual property for multi-venue growth.

  3. Enhanced Monetization of the Exosphere and Premium Experiences: The exterior of the Las Vegas Sphere, known as the Exosphere, serves as a prominent revenue stream through advertising campaigns and sponsorship deals. Future growth is expected from maximizing the commercial potential of this unique LED-clad structure through increased advertising sales and new, high-value sponsorship agreements. Furthermore, the company can drive revenue through premium experiences and offerings within the existing Las Vegas venue.

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Share Repurchases

  • Sphere Entertainment repurchased 1,054,247 shares of its Class A common stock for an aggregate purchase price of $50 million in 2025, at an average price of $47.43 per share.
  • The company has approximately $300 million remaining under its existing share repurchase authorization.
  • Specific repurchases in 2025 include 425,219 shares for approximately $22.5 million between September 3 and September 11, and 629,028 shares for approximately $27.5 million between August 21 and August 29.

Share Issuance

  • On March 11, 2026, Sphere Entertainment granted 1,273 Restricted Stock Units (RSUs) to its SVP, Controller & PAO, Christopher J. Winters, with vesting in three equal installments starting March 15, 2027.
  • Executive Chairman and CEO James L. Dolan and Kristin A. Dolan each exercised 54,315 stock options on February 17, 2026, granted under the MSG Networks Inc. 2010 Employee Stock Plan, which Sphere assumed.
  • An EVP was granted 7,527 RSUs by Sphere Entertainment on March 13, 2026.

Inbound Investments

  • Ariel Investments, LLC reported a passive stake of 11.1% in Sphere Entertainment Co., holding 3,168,534 shares of Class A common stock as of December 31, 2025.

Outbound Investments

  • In January 2023, Sphere Entertainment extended a three-year convertible loan of €18.8 million (approximately $20.5 million) to Holoplot, a Berlin-based company, which is a partner in creating the Sphere's audio system.
  • The company plans global expansion of Sphere venues, including a new 6,000-seat venue in National Harbor, Maryland, supported by $200 million in public and private incentives.
  • Sphere Entertainment is engaged in discussions for international market expansion, including plans for a Sphere Abu Dhabi venue.

Capital Expenditures

  • Sphere Entertainment invested $289.7 million in capital expenditures in Q4 2023 for long-term assets and infrastructure.
  • The development and opening of the Sphere in Las Vegas was a costly endeavor, contributing to the company's "substantial indebtedness" and "highly leveraged" status as of its 2024 10-K filing.
  • The company anticipates exploring new capital investment opportunities, particularly in expanding the Sphere network, with a focus on generating positive cash flow from the Sphere to fund operations and service debt.

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Financials

SPHRMSGELYVFOXASBGIIMAXMedian
NameSphere E.Madison .Live Nat.Fox Sinclair Imax  
Mkt Price139.5072.08160.0766.8913.8538.9769.48
Mkt Cap5.03.437.228.41.02.14.2
Rev LTM1,3261,01925,61216,2013,2004052,263
Op Inc LTM-611527443,24816687159
FCF LTM3333131,2052,13615490323
FCF 3Y Avg-1461751,0781,8688640130
CFO LTM3733412,4132,616227124357
CFO 3Y Avg1641991,8892,25316880183

Growth & Margins

SPHRMSGELYVFOXASBGIIMAXMedian
NameSphere E.Madison .Live Nat.Fox Sinclair Imax  
Rev Chg LTM20.2%4.5%12.6%0.6%-9.2%12.6%8.5%
Rev Chg 3Y Avg67.0%4.9%13.3%3.2%-1.7%7.5%6.2%
Rev Chg Q37.7%1.6%12.1%-8.6%4.0%-6.1%2.8%
QoQ Delta Rev Chg LTM8.7%0.4%1.6%-2.3%1.0%-1.3%0.7%
Op Inc Chg LTM78.9%0.1%-23.2%6.0%-67.5%66.0%3.0%
Op Inc Chg 3Y Avg6.3%7.2%-1.2%6.2%12.8%74.5%6.7%
Op Mgn LTM-4.6%14.9%2.9%20.0%5.2%21.5%10.0%
Op Mgn 3Y Avg-22.5%14.4%3.7%18.9%3.4%16.8%9.1%
QoQ Delta Op Mgn LTM7.5%-1.3%-2.0%1.0%0.3%-1.4%-0.5%
CFO/Rev LTM28.2%33.5%9.4%16.1%7.1%30.7%22.1%
CFO/Rev 3Y Avg13.8%20.2%7.9%14.4%5.2%20.8%14.1%
FCF/Rev LTM25.2%30.7%4.7%13.2%4.8%22.2%17.7%
FCF/Rev 3Y Avg-27.2%17.7%4.5%11.9%2.7%10.3%7.4%

Valuation

SPHRMSGELYVFOXASBGIIMAXMedian
NameSphere E.Madison .Live Nat.Fox Sinclair Imax  
Mkt Cap5.03.437.228.41.02.14.2
P/S3.83.41.51.80.35.22.6
P/Op Inc-81.622.650.08.75.924.315.6
P/EBIT23.728.142.310.44.033.125.9
P/E41.869.8444.616.615.357.449.6
P/CFO13.410.015.410.84.317.012.1
Total Yield2.4%1.4%0.2%7.0%13.7%1.7%2.1%
Dividend Yield0.0%0.0%0.0%1.0%7.2%0.0%0.0%
FCF Yield 3Y Avg-12.2%7.9%3.6%8.4%9.4%2.0%5.7%
D/E0.20.30.30.34.60.10.3
Net D/E0.10.30.00.13.80.10.1

Returns

SPHRMSGELYVFOXASBGIIMAXMedian
NameSphere E.Madison .Live Nat.Fox Sinclair Imax  
1M Rtn2.0%8.0%-3.4%6.7%-0.5%9.3%4.4%
3M Rtn23.6%22.5%2.5%11.9%-8.0%-4.5%7.2%
6M Rtn65.5%39.2%14.9%-1.7%0.1%9.1%12.0%
12M Rtn270.3%90.8%11.0%24.2%12.6%40.9%32.6%
3Y Rtn445.3%84.8%93.3%108.3%9.8%105.9%99.6%
1M Excs Rtn-3.3%7.4%-4.9%7.3%-5.1%8.9%2.0%
3M Excs Rtn14.1%13.0%-7.0%2.3%-17.6%-14.0%-2.3%
6M Excs Rtn63.4%35.9%9.9%-6.6%-13.2%8.8%9.4%
12M Excs Rtn253.4%69.7%-9.5%1.3%-7.7%17.0%9.2%
3Y Excs Rtn407.8%28.8%23.6%46.0%-111.2%48.1%37.4%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil2025202420232022
Madison Square Garden (MSG) Networks530608  
Sphere4972  
Entertainment  82585
Inter-segment eliminations  -2-2
Tao Group Hospitality  100180
Total1,027610180763


Operating Income by Segment
$ Mil2025202420232022
Madison Square Garden (MSG) Networks139152  
Sphere-480-318  
Entertainment  -39171
Inter-segment eliminations  -1-0
Purchase accounting adjustments  -29-28
Tao Group Hospitality  -29-103
Total-341-166-450-60


Assets by Segment
$ Mil2025202420232022
Sphere3,883   
Madison Square Garden (MSG) Networks904   
Total4,788   


Price Behavior

Price Behavior
Market Price$139.50 
Market Cap ($ Bil)5.0 
First Trading Date04/09/2020 
Distance from 52W High-4.3% 
   50 Days200 Days
DMA Price$131.92$94.73
DMA Trendupup
Distance from DMA5.7%47.3%
 3M1YR
Volatility52.9%51.2%
Downside Capture177.6764.38
Upside Capture194.52206.75
Correlation (SPY)60.3%34.2%
SPHR Betas & Captures as of 5/31/2026

 1M2M3M6M1Y3Y
Beta1.671.902.311.431.441.55
Up Beta3.652.173.203.022.371.75
Down Beta1.772.822.320.440.801.56
Up Capture36%138%207%187%325%553%
Bmk +ve Days13283667141432
Stock +ve Days9213058131378
Down Capture203%208%186%66%70%106%
Bmk -ve Days7132757109318
Stock -ve Days11203365116369

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with SPHR
SPHR273.5%51.1%2.76-
Sector ETF (XLC)10.6%13.3%0.5033.9%
Equity (SPY)25.3%12.1%1.5734.1%
Gold (GLD)27.6%26.9%0.887.6%
Commodities (DBC)36.9%19.0%1.52-16.6%
Real Estate (VNQ)12.5%13.3%0.6322.2%
Bitcoin (BTCUSD)-42.0%42.5%-1.1623.8%

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Based On 5-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with SPHR
SPHR29.6%51.4%0.69-
Sector ETF (XLC)8.3%20.7%0.3239.2%
Equity (SPY)13.5%17.1%0.6243.5%
Gold (GLD)17.3%18.1%0.785.8%
Commodities (DBC)9.5%19.4%0.3810.5%
Real Estate (VNQ)3.2%18.8%0.0731.7%
Bitcoin (BTCUSD)11.3%54.6%0.4019.7%

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Based On 10-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with SPHR
SPHR13.9%51.1%0.61-
Sector ETF (XLC)9.2%22.2%0.4834.9%
Equity (SPY)15.3%17.9%0.7339.7%
Gold (GLD)13.0%16.0%0.673.3%
Commodities (DBC)7.1%18.0%0.329.8%
Real Estate (VNQ)5.6%20.7%0.2430.1%
Bitcoin (BTCUSD)63.3%66.9%1.0317.5%

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Short Interest

Short Interest: As Of Date5152026
Short Interest: Shares Quantity7.4 Mil
Short Interest: % Change Since 43020265.4%
Average Daily Volume0.9 Mil
Days-to-Cover Short Interest8.4 days
Basic Shares Quantity35.9 Mil
Short % of Basic Shares20.6%

Returns Analyses

Earnings Returns History

Updated 6/7/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/5/20260.1%-7.0%3.9%
2/12/202622.1%21.6%11.5%
11/4/20254.7%15.9%24.8%
8/11/2025-3.9%-1.0%28.6%
5/8/20256.0%27.1%26.5%
3/3/2025-13.6%-18.8%-25.0%
11/12/2024-7.0%-7.7%-14.2%
8/14/20249.3%18.9%1.5%
...
SUMMARY STATS   
# Positive101013
# Negative141411
Median Positive6.3%11.4%8.1%
Median Negative-4.2%-7.1%-6.8%
Max Positive22.1%27.1%34.3%
Max Negative-13.6%-18.8%-25.0%

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202605/05/202610-Q
12/31/202502/12/202610-K
09/30/202511/04/202510-Q
06/30/202508/11/202510-Q
03/31/202505/08/202510-Q
12/31/202403/03/202510-KT
09/30/202411/12/202410-Q
06/30/202408/14/202410-K
03/31/202405/10/202410-Q
12/31/202302/05/202410-Q
09/30/202311/08/202310-Q
06/30/202308/22/202310-K
03/31/202305/10/202310-Q
12/31/202202/09/202310-Q
09/30/202211/09/202210-Q
06/30/202208/19/202210-K

Industry Resources

Communication Services Resources
Variety
The Hollywood Reporter
Adweek
Movies & Entertainment Resources
Deadline
IndieWire
Screen Daily

External Quote Links


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Core Cache Last Updated: 6/6/2026