Sphere Entertainment (SPHR)
Market Price (4/13/2026): $128.39 | Market Cap: $4.6 BilSector: Communication Services | Industry: Movies & Entertainment
Sphere Entertainment (SPHR)
Market Price (4/13/2026): $128.39Market Cap: $4.6 BilSector: Communication ServicesIndustry: Movies & Entertainment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 20%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 16% Megatrend and thematic driversMegatrends include Experience Economy & Premiumization. Themes include Experiential Retail, and Travel & Leisure Tech. | Trading close to highsDist 52W High is -1.9%, Dist 3Y High is -1.9% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -148 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -12% Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 36x, P/EPrice/Earnings or Price/(Net Income) is 137x Stock price has recently run up significantly6M Rtn6 month market price return is 118%, 12M Rtn12 month market price return is 374% Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 76% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.3% Significant short interestShort 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% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 20%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 16% |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization. Themes include Experiential Retail, and Travel & Leisure Tech. |
| Trading close to highsDist 52W High is -1.9%, Dist 3Y High is -1.9% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -148 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -12% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 36x, P/EPrice/Earnings or Price/(Net Income) is 137x |
| Stock price has recently run up significantly6M Rtn6 month market price return is 118%, 12M Rtn12 month market price return is 374% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 76% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.3% |
| Significant short interestShort 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% |
Qualitative Assessment
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1. Sphere Entertainment (SPHR) experienced a significant boost from its exceptional Fourth Quarter and Full Year 2025 financial results, reported on February 12, 2026. The company posted an Earnings Per Share (EPS) of $1.23, dramatically exceeding the consensus estimate of ($0.12) by $1.35, representing a 510% surprise. Quarterly revenue also surpassed expectations, reaching $394.3 million against a forecast of $377.60 million, marking a 28% increase year-over-year. This strong performance, particularly within the Sphere segment which saw a 62% revenue increase, drove the stock to surge 15% in early trading, reaching three digits for the first time.
2. Analysts responded to the company's performance and future outlook with widespread upgrades and increased price targets for SPHR. On April 2, 2026, Guggenheim raised its price target from $150 to $160, maintaining a "buy" rating and implying a 33.1% potential upside from the current share price. Other notable adjustments included Bank of America upping its price objective from $48.00 to $95.00 in December, and National Bank Financial setting a $136.00 target price in January 2026. Morgan Stanley also reissued an "overweight" rating with a $135.00 target price in February 2026. The consensus rating for SPHR is "Moderate Buy" with an average price target of $110.46 as of April 2, 2026.
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Stock Movement Drivers
Fundamental Drivers
The 35.0% change in SPHR stock from 12/31/2025 to 4/12/2026 was primarily driven by a 15.8% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 12312025 | 4122026 | Change |
|---|---|---|---|
| Stock Price ($) | 95.08 | 128.40 | 35.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,054 | 1,220 | 15.8% |
| P/S Multiple | 3.3 | 3.8 | 15.0% |
| Shares Outstanding (Mil) | 36 | 36 | 1.4% |
| Cumulative Contribution | 35.0% |
Market Drivers
12/31/2025 to 4/12/2026| Return | Correlation | |
|---|---|---|
| SPHR | 35.0% | |
| Market (SPY) | -5.4% | 19.3% |
| Sector (XLC) | -3.2% | 24.7% |
Fundamental Drivers
The 106.7% change in SPHR stock from 9/30/2025 to 4/12/2026 was primarily driven by a 77.4% change in the company's P/S Multiple.| (LTM values as of) | 9302025 | 4122026 | Change |
|---|---|---|---|
| Stock Price ($) | 62.12 | 128.40 | 106.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,065 | 1,220 | 14.6% |
| P/S Multiple | 2.1 | 3.8 | 77.4% |
| Shares Outstanding (Mil) | 36 | 36 | 1.7% |
| Cumulative Contribution | 106.7% |
Market Drivers
9/30/2025 to 4/12/2026| Return | Correlation | |
|---|---|---|
| SPHR | 106.7% | |
| Market (SPY) | -2.9% | 28.0% |
| Sector (XLC) | -3.4% | 30.3% |
Fundamental Drivers
The 292.4% change in SPHR stock from 3/31/2025 to 4/12/2026 was primarily driven by a 265.9% change in the company's P/S Multiple.| (LTM values as of) | 3312025 | 4122026 | Change |
|---|---|---|---|
| Stock Price ($) | 32.72 | 128.40 | 292.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,137 | 1,220 | 7.3% |
| P/S Multiple | 1.0 | 3.8 | 265.9% |
| Shares Outstanding (Mil) | 36 | 36 | -0.1% |
| Cumulative Contribution | 292.4% |
Market Drivers
3/31/2025 to 4/12/2026| Return | Correlation | |
|---|---|---|
| SPHR | 292.4% | |
| Market (SPY) | 16.3% | 54.3% |
| Sector (XLC) | 19.2% | 53.0% |
Fundamental Drivers
The 117.4% change in SPHR stock from 3/31/2023 to 4/12/2026 was primarily driven by a 285.1% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 3312023 | 4122026 | Change |
|---|---|---|---|
| Stock Price ($) | 59.07 | 128.40 | 117.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 317 | 1,220 | 285.1% |
| P/S Multiple | 6.5 | 3.8 | -41.9% |
| Shares Outstanding (Mil) | 35 | 36 | -2.8% |
| Cumulative Contribution | 117.4% |
Market Drivers
3/31/2023 to 4/12/2026| Return | Correlation | |
|---|---|---|
| SPHR | 117.4% | |
| Market (SPY) | 63.3% | 36.1% |
| Sector (XLC) | 102.5% | 31.2% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| SPHR Return | -33% | -36% | -24% | 19% | 136% | 36% | 23% |
| Peers Return | 8% | -15% | -13% | 44% | 32% | 2% | 53% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -0% | 82% |
Monthly Win Rates [3] | |||||||
| SPHR Win Rate | 33% | 42% | 50% | 42% | 75% | 75% | |
| Peers Win Rate | 45% | 18% | 38% | 58% | 57% | 55% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| SPHR Max Drawdown | -41% | -43% | -52% | -11% | -40% | -7% | |
| Peers Max Drawdown | -19% | -20% | -26% | -7% | -14% | -10% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[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 4/10/2026 (YTD)
How Low Can It Go
| Event | SPHR | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -81.7% | -25.4% |
| % Gain to Breakeven | 446.3% | 34.1% |
| Time to Breakeven | 1,018 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -27.8% | -33.9% |
| % Gain to Breakeven | 38.5% | 51.3% |
| Time to Breakeven | 129 days | 148 days |
Compare to MSGE, LYV, FOXA, SBGI, IMAX
In The Past
Sphere Entertainment's stock fell -81.7% during the 2022 Inflation Shock from a high on 3/8/2021. A -81.7% loss requires a 446.3% gain to breakeven.
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About Sphere Entertainment (SPHR)
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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.
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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.
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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.
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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.
Latest Trefis Analyses
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| 03272026 | META | Meta Platforms | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 8.8% | 8.8% | 0.0% |
| 03062026 | CARG | CarGurus | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 1.2% | 1.2% | -8.3% |
| 02132026 | YELP | Yelp | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 17.9% | 17.9% | -5.7% |
| 02132026 | TRIP | Tripadvisor | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 10.9% | 10.9% | -3.9% |
| 02062026 | OMC | Omnicom | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 8.9% | 8.9% | -3.7% |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 60.81 |
| Mkt Cap | 3.7 |
| Rev LTM | 2,195 |
| Op Inc LTM | 159 |
| FCF LTM | 192 |
| FCF 3Y Avg | 114 |
| CFO LTM | 229 |
| CFO 3Y Avg | 169 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 8.1% |
| Rev Chg 3Y Avg | 8.4% |
| Rev Chg Q | 12.0% |
| QoQ Delta Rev Chg LTM | 4.0% |
| Op Mgn LTM | 10.5% |
| Op Mgn 3Y Avg | 9.6% |
| QoQ Delta Op Mgn LTM | 1.1% |
| CFO/Rev LTM | 18.2% |
| CFO/Rev 3Y Avg | 15.2% |
| FCF/Rev LTM | 14.8% |
| FCF/Rev 3Y Avg | 7.3% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 3.7 |
| P/S | 2.2 |
| P/EBIT | 24.8 |
| P/E | 56.9 |
| P/CFO | 14.7 |
| Total Yield | 1.5% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 5.2% |
| D/E | 0.3 |
| Net D/E | 0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 5.3% |
| 3M Rtn | 10.1% |
| 6M Rtn | 16.8% |
| 12M Rtn | 51.2% |
| 3Y Rtn | 85.2% |
| 1M Excs Rtn | 3.3% |
| 3M Excs Rtn | 11.2% |
| 6M Excs Rtn | 11.4% |
| 12M Excs Rtn | 14.6% |
| 3Y Excs Rtn | 26.8% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Madison Square Garden (MSG) Networks | 530 | 608 | ||
| Sphere | 497 | 2 | ||
| Entertainment | 82 | 585 | ||
| Inter-segment eliminations | -2 | -2 | ||
| Tao Group Hospitality | 100 | 180 | ||
| Total | 1,027 | 610 | 180 | 763 |
| $ Mil | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Madison Square Garden (MSG) Networks | 139 | 152 | ||
| Sphere | -480 | -318 | ||
| Entertainment | -391 | 71 | ||
| Inter-segment eliminations | -1 | -0 | ||
| Purchase accounting adjustments | -29 | -28 | ||
| Tao Group Hospitality | -29 | -103 | ||
| Total | -341 | -166 | -450 | -60 |
| $ Mil | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Sphere | 3,883 | |||
| Madison Square Garden (MSG) Networks | 904 | |||
| Total | 4,788 |
Price Behavior
| Market Price | $128.40 | |
| Market Cap ($ Bil) | 4.6 | |
| First Trading Date | 04/09/2020 | |
| Distance from 52W High | -1.9% | |
| 50 Days | 200 Days | |
| DMA Price | $111.15 | $76.65 |
| DMA Trend | up | up |
| Distance from DMA | 15.5% | 67.5% |
| 3M | 1YR | |
| Volatility | 65.5% | 52.4% |
| Downside Capture | -0.26 | 0.21 |
| Upside Capture | 147.81 | 222.56 |
| Correlation (SPY) | 19.1% | 34.2% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.99 | 1.21 | 0.97 | 1.15 | 1.65 | 1.53 |
| Up Beta | 7.59 | 4.34 | 3.71 | 2.20 | 1.75 | 1.82 |
| Down Beta | 2.69 | -0.22 | 0.32 | 0.36 | 1.77 | 1.53 |
| Up Capture | 318% | 214% | 140% | 271% | 362% | 224% |
| Bmk +ve Days | 7 | 16 | 27 | 65 | 139 | 424 |
| Stock +ve Days | 9 | 20 | 27 | 61 | 133 | 378 |
| Down Capture | 204% | 55% | 30% | 63% | 94% | 106% |
| Bmk -ve Days | 12 | 23 | 33 | 58 | 110 | 323 |
| Stock -ve Days | 13 | 22 | 35 | 63 | 116 | 368 |
[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 | |
|---|---|---|---|---|
| SPHR | 389.5% | 56.3% | 3.03 | - |
| Sector ETF (XLC) | 33.7% | 16.7% | 1.56 | 48.2% |
| Equity (SPY) | 31.2% | 17.3% | 1.47 | 49.2% |
| Gold (GLD) | 60.1% | 27.8% | 1.69 | -0.4% |
| Commodities (DBC) | 29.8% | 16.6% | 1.58 | 4.9% |
| Real Estate (VNQ) | 21.3% | 15.2% | 1.07 | 33.9% |
| Bitcoin (BTCUSD) | -4.3% | 43.7% | 0.02 | 28.4% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SPHR | |
|---|---|---|---|---|
| SPHR | 28.5% | 51.2% | 0.68 | - |
| Sector ETF (XLC) | 9.4% | 20.7% | 0.37 | 39.2% |
| Equity (SPY) | 11.1% | 17.0% | 0.50 | 43.1% |
| Gold (GLD) | 22.1% | 17.8% | 1.02 | 4.5% |
| Commodities (DBC) | 11.8% | 18.8% | 0.52 | 13.2% |
| Real Estate (VNQ) | 3.7% | 18.8% | 0.10 | 32.0% |
| Bitcoin (BTCUSD) | 4.3% | 56.5% | 0.30 | 19.7% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SPHR | |
|---|---|---|---|---|
| SPHR | 13.0% | 51.2% | 0.59 | - |
| Sector ETF (XLC) | 9.4% | 22.3% | 0.50 | 35.0% |
| Equity (SPY) | 13.8% | 17.9% | 0.66 | 39.4% |
| Gold (GLD) | 14.2% | 15.9% | 0.74 | 2.3% |
| Commodities (DBC) | 8.6% | 17.6% | 0.41 | 12.1% |
| Real Estate (VNQ) | 5.1% | 20.7% | 0.22 | 30.4% |
| Bitcoin (BTCUSD) | 67.6% | 66.9% | 1.07 | 17.7% |
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Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/12/2026 | 22.1% | 21.6% | 11.5% |
| 11/4/2025 | 4.7% | 15.9% | 24.8% |
| 8/11/2025 | -3.9% | -1.0% | 28.6% |
| 3/3/2025 | -13.6% | -18.8% | -25.0% |
| 11/12/2024 | -7.0% | -7.7% | -14.2% |
| 8/14/2024 | 9.3% | 18.9% | 1.5% |
| 5/10/2024 | -4.8% | -9.4% | -11.3% |
| 2/5/2024 | 10.1% | 13.8% | 34.3% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 8 | 9 | 11 |
| # Negative | 15 | 14 | 12 |
| Median Positive | 7.2% | 9.0% | 8.1% |
| Median Negative | -3.9% | -6.2% | -6.3% |
| Max Positive | 22.1% | 21.6% | 34.3% |
| Max Negative | -13.6% | -18.8% | -25.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/12/2026 | 10-K |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/11/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 03/03/2025 | 10-KT |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/14/2024 | 10-K |
| 03/31/2024 | 05/10/2024 | 10-Q |
| 12/31/2023 | 02/05/2024 | 10-Q |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/22/2023 | 10-K |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 02/09/2023 | 10-Q |
| 09/30/2022 | 11/09/2022 | 10-Q |
| 06/30/2022 | 08/19/2022 | 10-K |
| 03/31/2022 | 05/09/2022 | 10-Q |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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