Think of Enterprise Value as the theoretical takeover price. It is more comprehensive than market capitalization (Market Cap), which only includes common equity. Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash, cash equivalents, and marketable securities.
EV-to-EBIT is calculated as Enterprise Value divided by its EBIT. As of today, Sphere Entertainment Co's Enterprise Value is $6,389 Mil.
Sphere Entertainment Co's EBIT for the trailing twelve months (TTM) ended in Mar. 2026 was $211 Mil. Therefore, Sphere Entertainment Co's EV-to-EBIT ratio for today is 30.21.
*** Please note that the current Enterprise Value is calculated using the current market capitalization and the most recently available financial data. If key financial fields—Long-Term Debt & Capital Lease Obligation and Short-Term Debt & Capital Lease Obligation—are recorded as null in the latest reporting period, our data vendor will default to using data from the prior period with valid entries.
Sphere Entertainment Co (NYSE:SPHR) Enterprise Value Explanation
When an investor buy a company, the investor needs to pay not only the common shares, he/she also needs to pay the shareholders of Preferred Stocks. He also assumes the debt of the company, and receives the cash on the company's balance sheet.
If a company has more cash than debt, the investor actually pays less than the Market Cap because he immediately owns the cash once the transaction goes through.
The market value of Preferred Stock needs to be added to the market value of common stocks in the calculation of Enterprise Value.
For the companies with the same Market Cap, the smaller the Enterprise Value is, the cheaper the company is.
Enterprise Value can be negative when the company's net cash is more than its Market Cap. In this case the investor is basically getting the company for free and get paid for that.
1. EV-to-EBIT is calculated as Enterprise Value divided by its EBIT.
Sphere Entertainment Co's current Enterprise Value is $6,389 Mil.
Sphere Entertainment Co's EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $211 Mil.
2. EV-to-EBITDA is calculated as Enterprise Value divided by its EBITDA.
Sphere Entertainment Co's EV-to-EBITDA for today is:
Sphere Entertainment Co's current Enterprise Value is $6,389 Mil.
Sphere Entertainment Co's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $548 Mil.
Sphere Entertainment Co's current Enterprise Value is $6,389 Mil.
Sphere Entertainment Co's Revenue for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,326 Mil.
Sphere Entertainment Co's current Enterprise Value is $6,389 Mil.
Sphere Entertainment Co's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $373 Mil.
Sphere Entertainment Co's current Enterprise Value is $6,389 Mil.
Sphere Entertainment Co's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $333 Mil.
* 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.
Sphere Entertainment Co Enterprise Value Related Terms
Sphere Entertainment Co Enterprise Value 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 LION, VSNT, MANU: Enterprise Value Comparison
For the Entertainment subindustry, Sphere Entertainment Co's Enterprise Value, along with its competitors' market caps and Enterprise Value 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 Enterprise Value vs Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Sphere Entertainment Co's Enterprise Value distribution charts can be found below:
* The bar in red indicates where Sphere Entertainment Co's Enterprise Value falls into.
Sphere Entertainment Co Enterprise Value Calculation
Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash, cash equivalents, and marketable securities.
Sphere Entertainment Co's Enterprise Value for the fiscal year that ended in Dec. 2025 is calculated as
* 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.
Sphere Entertainment Co (SPHR) has a Enterprise Value of $6,389 Mil as of Jun. 27, 2026. Enterprise value equals the sum of market cap, debt and preferred shares less cash and equivalents. View historical data on Sphere Entertainment Co and its competitors.
Is Sphere Entertainment Co's Enterprise Value too high?
Sphere Entertainment Co's current Enterprise Value is $6,389 Mil. 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 Enterprise Value compare to LION and VSNT?
Sphere Entertainment Co's Enterprise Value of $6,389 Mil can be compared against companies in the Media - Diversified industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Enterprise Value for a Media - Diversified company?
A good Enterprise Value depends on the Media - Diversified industry context. However, Enterprise Value should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Enterprise Value mean?
A high Enterprise Value can signal that a stock is expensive relative to its fundamentals. Enterprise value equals the sum of market cap, debt and preferred shares less cash and equivalents. View historical data on Sphere Entertainment Co and its competitors. Sphere Entertainment Co's current Enterprise Value is $6,389 Mil. 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 $66.63, compared to a current price of $169.85 — trading 154.9% above its estimated fair value. The current Enterprise Value is $6,389 Mil. Sphere Entertainment Co's overall GF Score™ is 58/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Enterprise Value calculated?
Enterprise Value is calculated from a company's financial statements. For Sphere Entertainment Co (SPHR), the current Enterprise Value is $6,389 Mil as of Jun. 27, 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 $169.85 is trading 154.9% above its estimated GF Value™ of $66.63.
GuruFocus considers Sphere Entertainment Co to be Significantly Overvalued.
Key valuation signals for SPHR:
Enterprise Value: $6,389 Mil
GF Value™: $66.63 vs. price of $169.85 (154.9% above fair value)
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
Get the complete analysis for SPHR
Enterprise Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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