Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Sphere Entertainment Co's annualizedNet Income for the quarter that ended in Mar. 2026 was $18 Mil. Sphere Entertainment Co's average total tangible assets for the quarter that ended in Mar. 2026 was $3,851 Mil. Therefore, Sphere Entertainment Co's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 0.46%.
The historical rank and industry rank for Sphere Entertainment Co's Return-on-Tangible-Asset or its related term are showing as below:
SPHR'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -4.57 Med: -0.03 Max: 10.54
Current: 3.11
During the past 9 years, Sphere Entertainment Co's highest Return-on-Tangible-Asset was 10.54%. The lowest was -4.57%. And the median was -0.03%.
SPHR's Return-on-Tangible-Asset is ranked better than 61.43% of 1032
companies
in the Media - Diversified industry
Industry Median: 0.82
vs SPHR: 3.11
Sphere Entertainment Co (NYSE:SPHR) Return-on-Tangible-Asset Explanation
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Sphere Entertainment Co Return-on-Tangible-Asset Related Terms
Sphere Entertainment Co Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Sphere Entertainment Co's Return-on-Tangible-Asset can be seen below:
* 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 Return-on-Tangible-Asset Chart
SPHR vs VSNT, LION, MANU: Return-on-Tangible-Asset Comparison
For the Entertainment subindustry, Sphere Entertainment Co's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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 Return-on-Tangible-Asset vs Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Sphere Entertainment Co's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Sphere Entertainment Co's Return-on-Tangible-Asset 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 Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 0.46% mean?
Sphere Entertainment Co (SPHR) has a Return-on-Tangible-Asset of 0.46% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Sphere Entertainment Co and its competitors. According to the industry distribution chart, Sphere Entertainment Co ranks #398 out of 1032 companies in the Media - Diversified industry, placing it in the top 38.6%.
Is Sphere Entertainment Co's Return-on-Tangible-Asset too high?
Sphere Entertainment Co's current Return-on-Tangible-Asset is 0.46%. The Media - Diversified industry median Return-on-Tangible-Asset is 0.82. Sphere Entertainment Co's value of 0.46% is 43.9% below this industry median. Based on the distribution chart, Sphere Entertainment Co ranks #398 out of 1032 companies in the Media - Diversified industry, which is above 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 Return-on-Tangible-Asset compare to VSNT and LION?
According to the Media - Diversified industry distribution chart, Sphere Entertainment Co ranks #398 out of 1032 companies for Return-on-Tangible-Asset. This puts Sphere Entertainment Co in the upper half of its industry. The industry median Return-on-Tangible-Asset is 0.82. Sphere Entertainment Co's value of 0.46% is 43.9% below this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Asset for a Media - Diversified company?
The median Return-on-Tangible-Asset among Media - Diversified companies is 0.82, based on 1,032 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Sphere Entertainment Co's current Return-on-Tangible-Asset of 0.46% is 43.9% below 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 Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Sphere Entertainment Co and its competitors. For the Media - Diversified industry, the median Return-on-Tangible-Asset is 0.82 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Sphere Entertainment Co's current Return-on-Tangible-Asset is 0.46%. 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 $67.14, compared to a current price of $144.76 — trading 115.6% above its estimated fair value. The current Return-on-Tangible-Asset is 0.46% and 43.9% below the Media - Diversified industry median of 0.82. 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 Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Sphere Entertainment Co (SPHR), the current Return-on-Tangible-Asset is 0.46% 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 $144.76 is trading 115.6% above its estimated GF Value™ of $67.14.
GuruFocus considers Sphere Entertainment Co to be Significantly Overvalued.
Key valuation signals for SPHR:
Return-on-Tangible-Asset: 0.46%
GF Value™: $67.14 vs. price of $144.76 (115.6% above fair value)
Industry Position: 43.9% below the Media - Diversified median (#398 of 1032)
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
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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