| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 41 | — | 17.8x | Around median | |
Growth | 80 | 23.5% | 7.1% | Top tier | |
Quality | 42 | -1.4% | 4.5% | Around median | |
Safety | 59 | 2.0x | 2.6x | Around median | |
Capital Return | 82 | — | 2.12% | Top tier | |
Momentum | 84 | 252.9% | 2.9% | Top tier | |
Sentiment | 74 | 3 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Sphere Entertainment Co. operates two main businesses: the Sphere segment, which generates revenue from original content experiences, concerts, advertising on the Exosphere, sponsorships, suite licensing, and corporate events, and the MSG Networks segment, which relies on sports network subscriptions, advertising, and distribution rights. In Q2 fiscal 2026, the Sphere segment represented approximately 72% of consolidated revenue, generating $226.4 million, while MSG Networks generated approximately 28%, with revenue of $87.3 million.
Q2 fiscal 2026 revenue was approximately $313.6 million, and the company recorded a net loss of $38.3 million and a loss per share of $1.07, compared with revenue of $386.4 million and net income of $4.5 million in Q1 fiscal 2026. Consolidated adjusted operating income was $50.9 million, equivalent to approximately 16.2% of revenue; the Sphere segment generated adjusted operating income of $39.9 million, compared with $11 million for the MSG Networks segment.
On a trailing twelve-month basis for fiscal 2026, revenue was $1.4 billion, net income was $97.5 million, and earnings per share were approximately $2.70, compared with revenue of $1.2 billion, net income of $33.4 million, and earnings per share of $0.74 in fiscal 2025. The provided data does not include gross profit or gross margin figures, so adjusted operating income remains the available metric for assessing quarterly operating profitability.
Automated analysis for informational purposes only — not investment advice.
The analyst consensus is Buy, with an average price target of $186 and a target range of $170 to $193; the average is only approximately 2.4% above the 52-week high of $181.63, while the lowest target is below it. No reported price-to-earnings ratio is available despite trailing twelve-month fiscal 2026 earnings per share of approximately $2.70, so the stock's valuation depends more heavily on continued Sphere growth, addressing the decline at MSG Networks, and executing the announced expansion.
Figures in the text are as of 2026-08-30; the live price is shown at the top of the page.
The Sphere segment was the largest driver, generating revenue of $226.4 million, or approximately 72% of the company's $313.6 million in revenue. Segment revenue increased approximately 30% year over year, primarily due to higher revenue from The Wizard of Oz at Sphere experience. Exosphere advertising, sponsorships, suite licensing, and concert residencies also contributed, while a decline in the number of corporate events offset part of the growth.
The experience sold approximately 3.6 million tickets, representing nearly $450 million, as of the July 30, 2026 call. Management said the show remained strong despite the seasonal slowdown in Las Vegas activity during the summer and was working on The Wizard of Oz 2.0. Management hoped to introduce the enhanced version in September 2026, with new modifications and additions to the experience.
Construction of the Sphere on Yas Island in Abu Dhabi began, with completion targeted by the end of 2029, and the company serves there in an advisory role under a franchise model that includes fees and franchise royalties. In National Harbor, as of July 30, 2026, the company was pursuing a third-party financing agreement in addition to $200 million in incentives, while retaining day-to-day operational control and consolidating the financial results under the proposed structure. Management said its goal is to have five venues open in more than five years, with five additional venues under construction.
MSG Networks' subscriber count declined approximately 16.5% in Q2 fiscal 2026, alongside a decrease in advertising revenue. Segment revenue fell to $87.3 million from $107.1 million in the comparable period, and adjusted operating income declined to $11 million from $36.5 million. The company announced on July 29, 2026 a partnership making DAZN the exclusive direct-to-consumer platform, but the provided information does not include an expected financial impact from this partnership.
The company recorded a net loss of $38.3 million and a loss per share of $1.07 in Q2 fiscal 2026, despite generating adjusted operating income of $50.9 million. On a trailing twelve-month basis for fiscal 2026, net income was $97.5 million and earnings per share were approximately $2.70. The gap between the two results reflects quarterly earnings volatility, while selling, general, and administrative expenses also increased to $125.6 million in Q2 fiscal 2026.
The company intends to add content types that can be shown at different times of day and has announced the Rocky Horror Picture Show at Sphere experience, targeting a 2027 launch. Management believes this content could expand programming to an adult evening audience alongside family-oriented daytime content. Management estimated that three to four Sphere experiences could be available by the end of 2027, alongside continued demand for concert residencies and the development of additional products whose details have not been disclosed.
