Sphere Entertainment Co. (SPHR) is a Communication Services stock trading at $156.13 (as of 2026-08-20), with a market capitalization of $5.64B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.
Sphere Entertainment Co. 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 The Garden, Hulu Theater, Radio City Music Hall, and the Beacon Theatre in New York City; and The Chicago Theatre. The company also operates 70 entertainment dining and nightlife venues spanning 20 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 formerly known as Madison Square Garden Entertainment Corp. and changed its name to Sphere Entertainment Co. in April 2023. Sphere Entertainment Co. was founded in 2006 and is based in New York, New York.
Sphere Entertainment Co. produces and hosts live entertainment events, including shows and sporting events, in its venues, and it also operates entertainment dining and nightlife venues, making money from ticketing and related entertainment and venue revenues.
Sphere segment results are driven by the demand for its shows and related guest and experience monetization, while reported GAAP operating results can be heavily impacted by noncash impairment charges in the Sphere segment.
Business quality (Mixed): Segment revenue detail is provided, but the underlying operating metrics focus on specific show and experience volume, and the provided data includes a large noncash impairment item that can obscure underlying operating momentum.
Valuation: At 57× earnings, SPHR trades 8% above the Entertainment average (53×). Note: one-time items can distort reported P/E.
| Price | $156.13 |
| Market Cap | $5.64B |
| EV / EBITDA | 36.6 |
| Price / Book | 2.53 |
| Price / Sales | 4.18 |
| DCF Value (model) | $110.88 |
| DCF Upside vs Price | -29.0% |
| Revenue (TTM) | $1.22B |
| Net Margin | 2.7% |
| Revenue Growth (YoY) | 27.9% |
| EPS Growth (YoY) | -151.9% |
| FCF Growth (YoY) | 553.4% |
| Altman Z-Score | 2.21 (grey) |
| Sector P/E (Communication Services) | 24.4 |
| Industry P/E (Entertainment) | 39.5 |
| Top Institutional Holder | BlackRock, Inc. ($458.79M) |
| Institutional Holders Tracked | 10 |
| Congressional Trades (recent) | 4 |
| Sector | Communication Services |
| Industry | Entertainment |
| CEO | James Lawrence Dolan |
| Employees | 1,080 |
| Country | US |
| IPO Date | 2020-04-09 |
Data as of 2026-08-20.
Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.