Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $989M | $1.05B | $1.44B | $790M | $608M | $571M | $1.02B | $1.22B |
| Revenue growth | — | 6.1% | 36.9% | -45.0% | -23.0% | -6.1% | 79.2% | 19.0% |
| Operating income | -$31.3M | -$45.6M | $235M | -$188M | -$103M | -$273M | -$341M | -$230M |
| Operating margin | -3.2% | -4.3% | 16.4% | -23.8% | -16.9% | -47.8% | -33.3% | -18.8% |
| Net income | $6.90M | -$17.9M | $182M | -$148M | -$194M | $503M | -$201M | $33.4M |
| Net margin | 0.7% | -1.7% | 12.7% | -18.8% | -32.0% | 88.0% | -19.6% | 2.7% |
| EPS (diluted) | $0.29 | -$0.75 | $5.20 | -$4.59 | -$5.77 | $14.40 | -$5.68 | $0.74 |
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $144M | $91.7M | $308M | -$58.7M | $141M | $154M | -$19.7M | $243M |
| Capital expenditures | $187M | $184M | $455M | $456M | $757M | — | — | — |
| Free cash flow | -$43.0M | -$92.3M | -$147M | -$515M | -$615M | — | — | — |
| Share buybacks | — | — | $294M | $0.00 | $0.00 | $0.00 | $0.00 | $50.0M |
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $1.23B | $1.32B | $1.12B | $1.54B | $760M | $429M | $573M | $521M |
| Total assets | — | $3.32B | $3.72B | $5.29B | $5.52B | $4.97B | $4.52B | $4.21B |
| Total liabilities | — | $662M | $845M | $2.97B | $3.36B | $2.39B | $2.31B | $1.98B |
| Long-term debt | — | $48.6M | $28.1M | $1.65B | $930M | $1.12B | $524M | $767M |
| Shareholders' equity | $2.49B | $2.57B | $2.84B | $2.17B | $1.96B | $2.58B | $2.42B | $2.23B |
| Retained earnings | — | $0.00 | $142M | -$96.3M | -$291M | $212M | -$220M | -$186M |
| Shares (wtd avg diluted) | 24.0M | 24.0M | 34.9M | 34.3M | 34.3M | 34.9M | 35.3M | 45.3M |
Every figure is extracted from Sphere Entertainment Co.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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