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Sphere Entertainment CoSPHR -2.78%58 Debt-to-EBITDA is 2.55 as of Mar. 2026, which is 190% above its 10-year median of 0.88. GuruFocus rates SPHR with a GF Score™ of 58/100 and a GF Value™ of $67.62 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 678 Media - Diversified companies, Sphere Entertainment Co ranks worse than 51.18% on this metric.
Debt-to-EBITDA measures a company's ability to pay off its debt.
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
The historical rank and industry rank for Sphere Entertainment Co's Debt-to-EBITDA or its related term are showing as below:
SPHR'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: -63.64 Med: 0.88 Max: 10.83
Current: 1.71
During the past 9 years, the highest Debt-to-EBITDA Ratio of Sphere Entertainment Co was 10.83. The lowest was -63.64. And the median was 0.88.
SPHR's Debt-to-EBITDA is ranked worse than 51.18% of 678
companies
in the Media - Diversified industry
Industry Median: 1.66
vs SPHR: 1.71
Sphere Entertainment Co (NYSE:SPHR) Debt-to-EBITDA Explanation
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.
According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
Sphere Entertainment Co Debt-to-EBITDA Related Terms
Sphere Entertainment Co Debt-to-EBITDA Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
SPHR vs VSNT, LION, MANU: Debt-to-EBITDA Comparison
For the Entertainment subindustry, Sphere Entertainment Co's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Sphere Entertainment Co Debt-to-EBITDA vs Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Sphere Entertainment Co's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Sphere Entertainment Co's Debt-to-EBITDA falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data,
the EBITDA data used here is four times the quarterly (Mar. 2026) EBITDA data.
Sphere Entertainment Co (SPHR) has a Debt-to-EBITDA of 2.55 as of Mar. 2026. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Sphere Entertainment Co. This is 190% above median its historical median of 0.88. According to the industry distribution chart, Sphere Entertainment Co ranks #347 out of 678 companies in the Media - Diversified industry, placing it in the top 51.2%.
Is Sphere Entertainment Co's Debt-to-EBITDA too high?
Sphere Entertainment Co's current Debt-to-EBITDA of 2.55 is 190% above median its 10-year median of 0.88. The Media - Diversified industry median Debt-to-EBITDA is 1.66. Sphere Entertainment Co's value of 2.55 is 53.6% above this industry median. Based on the distribution chart, Sphere Entertainment Co ranks #347 out of 678 companies in the Media - Diversified industry, which is below the industry midpoint. Overall, Sphere Entertainment Co has a GF Score™ of 58/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Sphere Entertainment Co's Debt-to-EBITDA compare to VSNT and LION?
According to the Media - Diversified industry distribution chart, Sphere Entertainment Co ranks #347 out of 678 companies for Debt-to-EBITDA. This places Sphere Entertainment Co in the lower half of its industry. The industry median Debt-to-EBITDA is 1.66. Sphere Entertainment Co's value of 2.55 is 53.6% above this benchmark. While the company's 10-year median is 0.88 vs. the industry median of 1.66, Sphere Entertainment Co has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-EBITDA for a Media - Diversified company?
The median Debt-to-EBITDA among Media - Diversified companies is 1.66, based on 678 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Sphere Entertainment Co's current Debt-to-EBITDA of 2.55 is 53.6% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-EBITDA mean?
A high Debt-to-EBITDA can signal that a stock is expensive relative to its fundamentals. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Sphere Entertainment Co. For the Media - Diversified industry, the median Debt-to-EBITDA is 1.66 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Sphere Entertainment Co's current Debt-to-EBITDA is 2.55, which is 190% above median its own 10-year median of 0.88. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sphere Entertainment Co stock overvalued right now?
Based on GuruFocus' analysis, Sphere Entertainment Co (SPHR) is currently considered Significantly Overvalued. The stock's GF Value™ is $67.62, compared to a current price of $138.25 — trading 104.5% above its estimated fair value. The current Debt-to-EBITDA is 2.55, which is 190% above median its 10-year median of 0.88 and 53.6% above the Media - Diversified industry median of 1.66. Sphere Entertainment Co's overall GF Score™ is 58/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-EBITDA calculated?
Debt-to-EBITDA is calculated from a company's financial statements. For Sphere Entertainment Co (SPHR), the current Debt-to-EBITDA is 2.55 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Sphere Entertainment Co (SPHR) Overvalued in 2026?
Based on GuruFocus' analysis, Sphere Entertainment Co stock appears to be overvalued.
The current stock price of $138.25 is trading 104.5% above its estimated GF Value™ of $67.62.
GuruFocus considers Sphere Entertainment Co to be Significantly Overvalued.
Key valuation signals for SPHR:
Debt-to-EBITDA: 2.55 (190% above median its 10-year median of 0.88)
GF Value™: $67.62 vs. price of $138.25 (104.5% above fair value)
Industry Position: 53.6% above the Media - Diversified median (#347 of 678)
No single metric tells the full story. See the SPHR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Sphere Entertainment Co is a live entertainment and media company. The firm creates, writes, casts, produces, and tours shows and events. The group has two reportable segments: Sphere and MSG Networks. Sphere is a next-generation entertainment medium, and MSG Networks operates two regional sports and entertainment networks, as well as a direct-to-consumer (DTC) and authenticated streaming product.
58GF Score
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