Sphere Entertainment Co.

SPHRNYSECommunication Services● Active

$136.42

$-3.08(-2.21%)

Market Cap$4.9B

P/E Ratio—

52W High$149

52W Low$36.8

Avg Volume812K

Open$142.19

Beta1.65

Overview

Sphere Entertainment Co. (SPHR) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

SPHR · free cash flow · updated Jun 8, 2026

Core FCF metrics

SPHR · FCF · TTM · margin & CAGR

Free cash flow was −$309.4M for FY2025 (fiscal year ending 2025-06-30), up 0.0% year-over-year The FCF margin was -30.1%.

FY2025 Free Cash Flow−$309.4M▲ +0.0% YoY

Trailing 12M (TTM)$333.5MTrailing 4Q sum · TTM positive vs latest FY negative

FCF Margin-30.1%−$309.4M ÷ revenue

3-Year CAGRN/AN/A — contains negative FCF

5-Year CAGRN/AN/A — contains negative FCF

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

SPHR · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest−$19.7M(290M)−$309.4M▲ +0.0%-30.1%

FY2024−$19.7M(290M)−$309.4M▲ +69.7%-30.1%

FY2023$153.6M(1.18B)−$1.02B▼ 53.9%-178.0%

FY2022$141.3M(805M)−$663.9M▼ 29.0%-108.8%

FY2021−$58.7M(456M)−$514.7M▼ 245.0%-79.5%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

SPHR · P/FCF · FCF yield · FCF per share

Sphere Entertainment Co. (SPHR) trades at a FCF yield of 6.52% and a price-to-free-cash-flow ratio of 14.7x. FCF per share stands at $9.30, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

6.52%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$9.30

TTM FCF ÷ Shares Outstanding

Price / FCF

x14.7

Share Price ÷ FCF per Share

EV / FCF (TTM)

x16.3

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-06-30

Cash flow statement summary

SPHR · cash flow statement · operating / investing / financing

For FY2025, Sphere Entertainment Co. generated −$19.7M in operating cash flow and spent 290M in capital expenditures, yielding −$309.4M in free cash flow.

Operating Activities

−$19.7M

Cash from core business operations

2025-06-30

Investing Activities

−$45.2M

CapEx, acquisitions & investments

2025-06-30

Financing Activities

+$209.7M

Buybacks, dividends & debt

2025-06-30

FCF FormulaOperating CF (−$19.7M) − |CapEx| (290M) = FCF (−$309.4M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Communication Services)

SPHR vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Sphere Entertainment Co.YOU

SPHR

−$309.4M+0.0%-30.1%

Loss

About Free Cash Flow & Methodology

Sphere Entertainment Co. (SPHR) reported free cash flow of −$309.4M for FY2025 (fiscal year ending 2025-06-30), up 0.0% year-over-year. The FCF margin was -30.1%.

Based on available data, Sphere Entertainment Co. has maintained positive free cash flow for at least 2 fiscal year(s). FCF peaked at $125.8M in FY2016.

Sphere Entertainment Co.'s FCF yield is 6.52% and price-to-FCF ratio is 14.7x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

SPHR free cash flow · 8 questions

Sphere Entertainment Co. free cash flow was −$309.4M for FY2025, up 0.0% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $333.5M.

SPHR free cash flowSPHR FCFSPHR FCF 2025SPHR free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Sphere Entertainment Co. · Sphere Entertainment Co. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026