SPHR
Communication ServicesSphere Entertainment Co. · Entertainment · $5B
What is Sphere Entertainment Co.?
Sphere Entertainment Co. is a New York-based live entertainment and hospitality company operating iconic venues, dining concepts, and large-scale events across multiple continents. It was formerly known as Madison Square Garden Entertainment Corp. before rebranding in April 2023.
Sphere Entertainment generates revenue through live event hosting — concerts, sporting events, family shows, and esports — at venues including Madison Square Garden, Radio City Music Hall, Hulu Theater, the Beacon Theatre, and The Chicago Theatre. It also operates roughly 70 entertainment dining and nightlife venues under brands such as Tao, Marquee, Hakkasan, and Omnia across five continents. The Radio City Rockettes and the annual Christmas Spectacular at Radio City Music Hall round out its entertainment portfolio.
The company was founded in 2020 and is headquartered in New York City.
- Live events: concerts, boxing, MMA, esports, and college sports
- Iconic New York venues including Madison Square Garden and Radio City Music Hall
- Global dining and nightlife brands: Tao, Marquee, Hakkasan, Omnia
- Radio City Rockettes and the Christmas Spectacular
- New England music festival operations
Is SPHR a Good Stock to Buy?
UQS Score rates SPHR as Poor overall, placing it among the lower-ranked stocks in the Communication Services sector.
The Risk pillar comes in at a Neutral rating — the one area where SPHR does not stand out negatively relative to peers. This suggests the company's risk profile, while not exceptional, is not at the extreme end of concern.
Quality, Moat, Growth, and Valuation all register as Weak or Elevated, indicating the business faces meaningful headwinds across profitability, competitive positioning, and growth trajectory — while the stock does not appear cheaply priced relative to those fundamentals.
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Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does SPHR pay dividends?
No — Sphere Entertainment Co. does not currently pay a dividend.
Sphere Entertainment does not currently pay a dividend. For a capital-intensive live entertainment and hospitality business still investing in venue operations and brand expansion, retaining cash is a common approach. Income-focused investors should be aware that SPHR offers no dividend income at this time.
When does SPHR report earnings?
Sphere Entertainment reports earnings on a quarterly cadence, typical for US-listed equities.
The company's recent results reflect the challenges of operating large-scale venues and hospitality concepts — businesses with high fixed costs and sensitivity to consumer spending trends. Growth and Quality pillar ratings suggest the financial trajectory has not yet translated into consistent fundamental improvement.
For the most recent quarter's results, visit Sphere Entertainment's investor relations page directly.
SPHR Price History
+209.8% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
SPHR Long-term Outlook
The UQS Growth pillar for SPHR is rated Weak, suggesting the company's near-term expansion trajectory faces real obstacles. Combined with an Elevated Valuation rating, the risk-reward profile warrants careful consideration. The Neutral Risk rating provides some balance, but the overall fundamental outlook — as reflected across the five UQS pillars — points to a challenging environment for meaningful improvement without a shift in business conditions.
Growth drivers
- Expansion of global dining and nightlife venue footprint under established brands
- Live event demand recovery and new entertainment format development
- Potential monetization of iconic venue assets and the Rockettes franchise
Key risks
- High fixed-cost structure across venues makes profitability sensitive to attendance
- Elevated Valuation rating limits margin of safety if growth disappoints
- Competitive pressure from streaming and alternative entertainment formats
SPHR vs Peers
Sphere Entertainment operates in a broad Communication Services landscape alongside media and entertainment peers with distinct business models.
Nexstar focuses on local broadcast television and digital media, a fundamentally different revenue model from live venue and hospitality operations.
Lionsgate is primarily a film and television content studio, competing for entertainment dollars through intellectual property rather than physical venue experiences.
Cinemark operates movie theater circuits, sharing SPHR's dependence on in-person attendance but focused on film exhibition rather than live events or dining.
Frequently Asked Questions
What does Sphere Entertainment do?
Sphere Entertainment produces and hosts live events — concerts, sporting events, family shows, and esports — at venues including Madison Square Garden and Radio City Music Hall. It also operates a global network of dining and nightlife brands such as Tao, Marquee, and Hakkasan, and presents the Radio City Rockettes Christmas Spectacular.
Does SPHR pay dividends?
No, Sphere Entertainment does not currently pay a dividend. The company retains cash to support its venue operations and brand investments. Investors seeking regular income should factor this into their assessment of SPHR.
When does SPHR report earnings?
Sphere Entertainment follows a standard quarterly earnings cadence for US-listed companies. For the exact schedule and most recent results, check the investor relations section of the company's official website.
Is SPHR a good stock to buy?
UQS Score rates SPHR as Poor, reflecting Weak readings across Quality, Moat, and Growth pillars alongside an Elevated Valuation. The full pillar breakdown — available to Pro members — gives a more complete picture of where the stock stands relative to sector peers.
Is SPHR overvalued?
The UQS Valuation pillar for SPHR is rated Elevated, suggesting the stock is not priced at a discount relative to its current fundamental profile. Investors should weigh this against the Weak Growth and Quality ratings when forming their own view.
How does SPHR compare to its competitors?
SPHR operates in live entertainment and hospitality, which differs meaningfully from peers like Nexstar (broadcast media), Lionsgate (film and TV content), and Cinemark (movie theaters). Each faces different demand drivers and cost structures. The complete UQS comparison across pillars is available to Pro members.
What is SPHR's market cap bracket?
Sphere Entertainment is classified as a mid-cap company. This places it in a range where institutional coverage exists but liquidity and analyst attention may be lower than for large- or mega-cap peers in the Communication Services sector.
Who founded Sphere Entertainment?
Sphere Entertainment was established in 2020 as a spinoff from the Dolan family-controlled Madison Square Garden Entertainment Corp. The company's roots trace back to the broader MSG entertainment empire. Detailed founding history is publicly available through the company's filings and investor relations materials.
Is SPHR a long-term quality investment?
As a long-term quality indicator, SPHR's current UQS profile — with Weak scores across Quality, Moat, and Growth — suggests the business has not yet demonstrated the durable characteristics typically associated with long-term compounders. The full analysis, including trend data, is available to Pro members.
What is the main competitive advantage of Sphere Entertainment?
Sphere Entertainment's most tangible differentiator is its ownership of iconic, hard-to-replicate venues — particularly Madison Square Garden and Radio City Music Hall — combined with globally recognized hospitality brands. However, the UQS Moat pillar currently rates this advantage as Weak, indicating these assets have not yet translated into durable financial outperformance.
What sector does SPHR belong to?
SPHR is classified under the Communication Services sector. Within that broad category, it sits in the live entertainment and hospitality niche — distinct from pure-play media, telecom, or streaming companies that also populate the sector.
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Pro Analysis
SPHR — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 20, 2026 | 28.8 | 20.8 | 22.0 | 26.7 | 49.0 | 36.1 | -1.3 |
| May 12, 2026 | 30.1 | 21.6 | 22.0 | 26.7 | 49.0 | 43.8 | +0.4 |
| May 10, 2026 | 29.7 | 21.0 | 22.0 | 26.7 | 49.0 | 41.8 | +6.9 |
| Apr 26, 2026 | 22.8 | 10.9 | 22.0 | 26.7 | 41.7 | 19.6 | +0.4 |
| Apr 19, 2026 | 22.4 | 10.9 | 22.0 | 26.7 | 41.7 | 17.1 | -0.4 |
| Apr 18, 2026 | 22.8 | 10.9 | 22.0 | 26.7 | 41.7 | 19.6 | +1.8 |
| Apr 14, 2026 | 21.0 | 10.9 | 22.0 | 26.7 | 41.7 | 7.8 | -6.8 |
| Apr 13, 2026 | 27.8 | 10.6 | 50.0 | 26.7 | 41.7 | 7.3 | +6.8 |
| Apr 2, 2026 | 21.0 | 10.9 | 22.0 | 26.7 | 41.7 | 7.8 | — |
SPHR — Pillar Breakdown
Quality
— 21.3/100 (25%)Sphere Entertainment Co. currently shows below-average quality metrics, suggesting challenges with profitability.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 26.7/100 (20%)Sphere Entertainment Co. faces growth headwinds with declining or stagnant revenue trends.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Risk
— 49.0/100 (15%)Sphere Entertainment Co. has some risk factors including moderate leverage or solvency concerns.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 39.4/100 (15%)Sphere Entertainment Co. has a mixed valuation — some metrics suggest fair value while others appear stretched.
Inverse of forward P/E — higher yield means cheaper stock.
Enterprise value multiple relative to sector median.
Moat
— 22/100 (25%)Sphere Entertainment Co. operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for SPHR.
Score Composition
Financial Data
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How is the SPHR UQS Score Calculated?
The UQS (Unified Quality Score) for Sphere Entertainment Co. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Sphere Entertainment Co.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Sphere Entertainment Co. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.