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Upturn AI Summary - About
Sphere Entertainment Co.(SPHR)
Advisory History & Simulated Performance *
*as per simulation (see disclosures)- ALL
- 1Y
- 1M
- 1W
- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- PASS (Skip)
Stock price based on last close Advisory Performance History (Simulated)
Upturn Advisory & Investor View for SPHR
10/12/2026: SPHR (3-star) is currently NOT-A-BUY. Pass it for now.
Sphere Entertainment Co. is a specialized live entertainment company centered on its high-tech, immersive venue in Las Vegas. The company's main strength lies in the unique technological appeal of the Sphere, which has shown significant potential for attracting high-profile residencies and global advertising revenue. Its primary investment story hinges on successfully scaling this concept and proving that its high-cost assets can generate sustainable, recurring profits. However, investors face risks related to significant debt, high operational costs, and the ongoing decline of its legacy media business. The stock may suit growth-oriented investors with a high risk tolerance who are looking for exposure to next-generation entertainment technology.
How to Read the Upturn Advisory
The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.
Company fundamentals, valuation, risks, and news provide supporting context about the business.
Investor Fit
| Investor style | Fit | Why |
|---|---|---|
| Growth investor | Mixed fit | While the Sphere concept is innovative, the high capital requirements and unproven long-term scale make it a speculative growth play. |
| Momentum investor | Strong fit while signal remains positive | The stock can experience significant moves based on event announcements and residency news, making it suitable for those tracking market sentiment. |
| Value investor | Weak fit | The company's valuation is tied more to future potential and intangible assets than to current cash flow or book value. |
| Dividend investor | Weak fit | SPHR does not provide dividend income, making it unsuitable for income-focused portfolios. |
| Low-risk investor | Weak fit | The inherent volatility of a single-asset-dependent company creates significant risk that is incompatible with low-risk mandates. |
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Price volatility | High | The stock's dependence on narrative-driven milestones leads to frequent and sharp price fluctuations. |
| Valuation risk | High | The company is valued on future expectations rather than established, consistent profitability. |
| Competition risk (Live Entertainment) | Medium / high | It must continuously compete with established Las Vegas players and large global promoters for top-tier talent. |
| Business quality | Medium | While the Sphere is a technological marvel, the business model currently lacks the scale and diversification of more mature operators. |
| Dividend income | Low / none | Investors should not expect any income yield from this stock at the present time. |
| Execution risk | High | The company faces the complex challenge of scaling a new and expensive entertainment format while managing heavy debt. |
Price Behavior
Rolling Over
The price momentum is slowing down and beginning to turn downward.
Choppy
The stock has experienced frequent reversals and pronounced short-term price swings.
Analysis of Past Performance
Type Stock | Historic Profit 63.93% | Avg. Invested days 40 | Today’s Advisory PASS |
Upturn Advisory Rating  | Upturn Advisory Performance  3.0 | Stock Returns Performance  3.0 |
| Profits based on simulation | Last Close 10/12/2026 |
Upturn Scorecard
Upturn Star Rating 
Company Fundamentals
Financial Health Rating
Growth Momentum Score
Ownership
Top 5 Institutional Investors
Unit Economics (Per $1K Revenue)
Economic Dimensions
Quantitative Style Profile
Style Classification
Quality Focused
Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 3.82B USD | Price to earnings Ratio - | 1Y Target Price 169.08 |
Price to earnings Ratio - | 1Y Target Price 169.08 | ||
Volume (30-day avg) 781.8K shares | Beta 1.6 | 52 Weeks Range 58.18 - 181.63 | Updated Date 10/11/2026 |
52 Weeks Range 58.18 - 181.63 | Updated Date 10/11/2026 | ||
Dividends yield (FY) - | Basic EPS (TTM) -2.69 |
How Company Makes Money
| Business area | What it includes | Retail investor read |
|---|---|---|
| Sphere Venue Operations | Ticket sales, immersive production licensing, and venue rentals. | This is the primary engine of the company, where the unique experience drives revenue. |
| Advertising & Sponsorships | High-visibility branding on the exterior of the Sphere. | This provides a secondary revenue stream that leverages the building's iconic status. |
| MSG Networks | Distribution fees and advertising on its regional sports channels. | This provides stable but slow-growing legacy media income. |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Valuation
Trailing PE - | Forward PE 28.41 | Enterprise Value 5.24B | Price to Sales(TTM) 2.82 |
Enterprise Value 5.24B | Price to Sales(TTM) 2.82 | ||
Enterprise Value to Revenue 3.86 | Enterprise Value to EBITDA 27.33 | Shares Outstanding 29.05M | Shares Floating 24.70M |
Shares Outstanding 29.05M | Shares Floating 24.70M | ||
Percent Insiders 6.72 | Percent Institutions 134.64 |
Financial Metrics
🧭 Investment Snapshot
Total Revenue (Scale)
Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.
Net Income (Profit)
Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.
Free Cash Flow (Cash Strength)
Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.
📈 Growth & Strength
Operating Income (Core Profit)
Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.
EBITDA (Cash Earnings)
Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.
Gross Profit (Unit Profitability)
Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.
🛡️ Financial Safety
Cash (Liquidity Buffer)
Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.
Total Debt (Leverage Risk)
Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.
Net Working Capital (Short-Term Health)
Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.
🧱 Balance Sheet Strength
Stockholder Equity (Net Worth)
Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.
Total Assets (Asset Base)
The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.
Income Before Tax (Pre-Tax Earnings)
Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.
⚙️ Cost & Drag Factors
Cost of Revenue (Production Cost)
Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.
Total Operating Expenses (Operating Cost)
Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.
Income Tax Expense (Tax Drag)
Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.
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