SPHR NYSE
Sphere Entertainment Co.
1W: +1.8%
1M: -17.2%
3M: -18.1%
YTD: +21.8%
1Y: +70.8%
3Y: +239.9%
5Y: +254.2%
$114.73
+4.29 (+3.88%)
Weekly Expected Move ±10.1%
$87
$98
$109
$120
$131
Credit Risk of going bust: higher than 55% of companies Debt: 18.9% of company value Bonds: $65.4M held by 16 funds → details ▾
Of US companies ranked in the middle of the pack, about 1 in 580 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $2.67 (down 98%), Sphere Entertainment Co. would be worth roughly what it owes.
Total debt $961.5M against a stock market value of $4.12B.
Distance to default 4.63 (Merton model): prices to 2026-10-27, balance sheet 2026-06-30, debt counted $463.9M (short-term plus half of long-term), stock volatility 53.0%; Altman Z'' 1.20. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
If the stock fell to about $2.67 (down 98%), Sphere Entertainment Co. would be worth roughly what it owes.
Total debt $961.5M against a stock market value of $4.12B.
Distance to default 4.63 (Merton model): prices to 2026-10-27, balance sheet 2026-06-30, debt counted $463.9M (short-term plus half of long-term), stock volatility 53.0%; Altman Z'' 1.20. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
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Cash Flow Trends
Operating Cash Flow
$243M
+1337.9% ▲
Capital Expenditures
$52M
+81.9% ▲
5Y CAGR: -35.1%
Free Cash Flow
$191M
+161.7% ▲
Dividends Paid
$0
+0.0% ▲
Buybacks
$50M
-44.6% ▼
Net Change in Cash
$6M
-96.1% ▼
Cash Flow Composition
Year-over-Year Growth
View Full Cash Flow Statement
| Line Item | FY2021 | FY2022 | FY2023 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| — Operating Activities — | |||||
| Net Income | -$190M | $506M | -$201M | -$462M | $33M |
| Depreciation & Amort. | $125M | $103M | $256M | $365M | $336M |
| Stock-Based Comp. | $77M | $63M | $48M | $68M | $59M |
| Change in Working Capital | $36M | $101M | -$160M | -$160M | $42M |
| Other Non-Cash Items | $124M | -$742M | $169M | $169M | -$249M |
| Operating Cash Flow | $141M | $154M | -$20M | -$20M | $243M |
| — Investing Activities — | |||||
| Capital Expenditures | -$757M | -$1.1B | -$265M | -$98M | -$52M |
| Acquisitions (Net) | $1M | $312M | -$9M | -$3M | $49M |
| Investment Purchases | $0 | $1.1B | $0 | $0 | $0 |
| Investment Sales | $0 | $209M | $0 | $0 | $0 |
| Other Investing | -$49M | -$1.2B | $229M | $55M | -$311K |
| Investing Cash Flow | -$804M | -$654M | -$45M | -$45M | -$4M |
| — Financing Activities — | |||||
| Net Debt Issuance | $599M | $228M | $218M | $233M | -$165M |
| Stock Repurchased | -$17M | -$17M | -$17M | -$35M | -$50M |
| Dividends Paid | -$2M | -$122M | -$122M | $0 | $0 |
| Other Financing | -$610M | -$4M | $104M | $12M | -$25M |
| Financing Cash Flow | -$30M | $86M | $210M | $210M | -$233M |
| Net Change in Cash | -$694M | -$417M | $144M | $144M | $6M |
| Cash End of Period | $846M | $429M | $573M | $573M | $521M |
| Free Cash Flow | -$615M | -$905M | -$309M | -$309M | $191M |