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SPHR 
Sphere Entertainment Co. (SPHR)
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Upturn Advisory Summary
02/26/2026: SPHR (4-star) is a STRONG-BUY. BUY since 2 days. Simulated Profits (1.85%). Updated daily EoD!
Upturn Star Rating
Above Average Performance
These Stocks/ETFs, based on Upturn Advisory, frequently surpass the market, reflecting reliable and trustworthy advice.
Number of Analysts
10 Analysts rated it
Moderately tracked stock, growing coverage, gaining market and investor attention.
1 Year Target Price $128.9
1 Year Target Price $128.9
| 4 | Strong Buy |
| 2 | Buy |
| 3 | Hold |
| 0 | Sell |
| 1 | Strong Sell |
Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 4.05B USD | Price to earnings Ratio 154.34 | 1Y Target Price 128.9 |
Price to earnings Ratio 154.34 | 1Y Target Price 128.9 | ||
Volume (30-day avg) 10 | Beta 1.65 | 52 Weeks Range 23.89 - 118.14 | Updated Date 02/26/2026 |
52 Weeks Range 23.89 - 118.14 | Updated Date 02/26/2026 | ||
Dividends yield (FY) - | Basic EPS (TTM) 0.74 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Earnings Date
Report Date 2026-02-12 | When Before Market | Estimate -0.26 | Actual 1.23 |
Profitability
Profit Margin 2.74% | Operating Margin (TTM) 6.86% |
Management Effectiveness
Return on Assets (TTM) -2.21% | Return on Equity (TTM) 1.51% |
Valuation
Trailing PE 154.34 | Forward PE 28.41 | Enterprise Value 3028832684 | Price to Sales(TTM) 3.32 |
Enterprise Value 3028832684 | Price to Sales(TTM) 3.32 | ||
Enterprise Value to Revenue 2.68 | Enterprise Value to EBITDA 5.35 | Shares Outstanding 28635366 | Shares Floating 24492913 |
Shares Outstanding 28635366 | Shares Floating 24492913 | ||
Percent Insiders 6.58 | Percent Institutions 123.93 |
Upturn AI SWOT
Sphere Entertainment Co.
Company Overview
History and Background
Sphere Entertainment Co. was established in 2023 as a spin-off from Madison Square Garden Entertainment Corp. (MSGE). The company's primary asset is the Sphere, a state-of-the-art entertainment venue located in Las Vegas. This venture represents a significant diversification and focus on immersive, large-scale entertainment experiences. The Sphere itself broke ground in 2018 and opened in September 2023, marking a major milestone in experiential entertainment infrastructure.
Core Business Areas
- Sphere: The company's flagship offering is the Sphere, a massive spherical entertainment venue in Las Vegas. It features a high-resolution LED exterior and interior, capable of displaying dynamic visual content, and a cutting-edge sound system. The Sphere hosts a variety of events, including concerts, residencies, immersive films, and sporting events, designed to provide a unique, multisensory experience.
- Content and Production: Sphere Entertainment Co. is also involved in the creation and production of content specifically designed for the Sphere. This includes original films, shows, and experiences that leverage the venue's technological capabilities to deliver unparalleled immersive entertainment.
- Live Entertainment and Ticketing: This segment encompasses the sale of tickets for events held at the Sphere, including concerts, residencies, and other special programming. Revenue is generated through ticket sales, premium seating, and associated hospitality services.
Leadership and Structure
Sphere Entertainment Co. is led by a management team responsible for operations, content development, and strategic growth. The exact structure involves a CEO, CFO, and other executive roles overseeing various facets of the business. Given its recent spin-off status, specific detailed organizational charts might be found in their SEC filings.
Top Products and Market Share
Key Offerings
- The Sphere (Venue): A groundbreaking 17,500-seat immersive entertainment venue in Las Vegas, featuring a 16K x 16K LED exterior (the largest LED screen in the world) and a 160,000 square foot interior LED display. It boasts a 19,000-speaker beamforming audio system. Revenue is derived from ticket sales, sponsorships, premium experiences, and exclusive content. Competitors include other major Las Vegas entertainment venues and global immersive entertainment attractions. Market share is nascent as it is a unique venue, but it aims to capture a significant share of the premium live entertainment and experiential market in Las Vegas and beyond.
- Immersive Content (Sphere Originals/Films): Content specifically created for the Sphere's unique display and audio capabilities, such as 'Postcard from Earth' and concert residencies. This content is a key driver for venue utilization and ticket sales. Competitors include traditional film studios and providers of immersive digital experiences. Market share is within the nascent market for ultra-immersive, venue-specific content.
Market Dynamics
Industry Overview
Sphere Entertainment Co. operates within the broader entertainment and leisure industry, specifically focusing on large-scale, technologically advanced live entertainment and immersive experiences. This sector is characterized by significant capital investment in venues and technology, evolving consumer demand for unique experiences, and competition from various forms of entertainment, including traditional live events, digital streaming, and other forms of experiential attractions.
Positioning
Sphere Entertainment Co. is positioned as a pioneer in hyper-immersive, large-scale entertainment with its flagship Sphere venue. Its competitive advantage lies in the unique technological capabilities of the Sphere, offering experiences that are not replicable by traditional venues. The company aims to become the premier destination for groundbreaking live entertainment and visual spectacles.
Total Addressable Market (TAM)
The TAM is substantial, encompassing the global market for live entertainment, experiential attractions, and premium leisure activities. While difficult to quantify precisely for a unique offering, it can be estimated in the tens of billions of dollars annually, considering global tourism, entertainment spending, and corporate sponsorships. Sphere Entertainment Co. is positioned to capture a significant portion of the premium segment within this TAM, particularly in Las Vegas and potentially through future similar venues.
Upturn SWOT Analysis
Strengths
- Unique, technologically advanced venue (The Sphere) with unparalleled immersive capabilities.
- First-mover advantage in a new category of large-scale immersive entertainment.
- Potential for high-margin revenue streams through premium offerings and exclusive content.
- Strong brand recognition and attraction generated by the Sphere's iconic design and capabilities.
Weaknesses
- High capital expenditure and ongoing operational costs associated with the Sphere.
- Dependence on a single primary venue, creating concentration risk.
- Unproven long-term demand and revenue generation for its specific entertainment format.
- Potential challenges in consistently producing high-quality, engaging content for the venue.
Opportunities
- Expansion to other global markets with similar Sphere venues.
- Development of diverse content partnerships and IP exploitation.
- Leveraging data analytics to personalize experiences and optimize programming.
- Growing consumer demand for unique and memorable experiential entertainment.
Threats
- Economic downturns impacting consumer discretionary spending on entertainment.
- Intensifying competition from other entertainment options, including virtual and augmented reality.
- Technological obsolescence or the emergence of superior immersive technologies.
- Potential for negative publicity or operational issues affecting the Sphere's reputation.
Competitors and Market Share
Key Competitors
- Las Vegas Sands Corp. (LVS)
- Caesars Entertainment, Inc. (CZR)
- MGM Resorts International (MGM)
Competitive Landscape
Sphere Entertainment Co. competes for entertainment spending and visitor attention within the highly competitive Las Vegas market. Its main competitors are established casino and resort operators that offer a wide range of entertainment, dining, and gaming. SPHR's advantage is its unique, singular focus on an unparalleled immersive experience, differentiating it from the broader entertainment portfolios of its competitors. However, these competitors have established customer bases and diversified revenue streams.
Growth Trajectory and Initiatives
Historical Growth: Historical growth is tied to the development and eventual opening of the Sphere. Prior to the spin-off, the underlying assets were part of a larger entity. The immediate post-opening period is focused on stabilizing operations and demonstrating revenue generation potential.
Future Projections: Future projections are optimistic but depend on the successful execution of the business plan for the Sphere. Analysts will be looking at increased ticket sales, new content development, and potential international expansion. Growth is expected to be driven by increasing utilization of the Sphere and the development of its proprietary content library.
Recent Initiatives: The primary recent initiative was the successful opening of the Sphere venue in Las Vegas in September 2023. Ongoing initiatives involve securing and producing compelling content for the venue and exploring potential future development opportunities.
Summary
Sphere Entertainment Co. is a unique player in the entertainment industry, leveraging its groundbreaking Sphere venue to offer unparalleled immersive experiences. The company's strengths lie in its innovative technology and first-mover advantage in this niche. However, it faces significant challenges related to high operational costs, reliance on a single venue, and the need to consistently attract and retain audiences with compelling content. Continued success hinges on effectively monetizing the Sphere's capabilities and managing financial risks.
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Sources and Disclaimers
Data Sources:
- Company SEC Filings (e.g., 10-K, 10-Q)
- Financial News Outlets (e.g., Bloomberg, Reuters, Wall Street Journal)
- Industry Analysis Reports
- Company Investor Relations Websites
Disclaimers:
This JSON output is for informational purposes only and does not constitute financial advice. Market share data and competitor analysis are estimates and may not be exhaustive or perfectly accurate. Financial performance and future projections are subject to change and inherent market risks. Investors should conduct their own due diligence before making any investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Sphere Entertainment Co.
Exchange NYSE | Headquaters New York, NY, United States | ||
IPO Launch date 2020-04-09 | Executive Chairman & CEO Mr. James Lawrence Dolan | ||
Sector Communication Services | Industry Entertainment | Full time employees 1100 | |
Full time employees 1100 | |||
Sphere Entertainment Co. operates as a live entertainment and media company in the United States. It operates through two segments, Sphere and MSG Networks. The Sphere segment offers entertainment medium powered by technologies to create multi-sensory experiences. The MSG Networks segment provides regional sports and entertainment networks; direct-to-consumer and authenticated streaming products, as well as sports content, including live local games and other programming. 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.
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