SIRIUS XM HOLDINGS INC. vs SPHERE ENTERTAINMENT CO., two Entertainment stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Sirius XM sells satellite radio subscriptions; Sphere Entertainment runs the Las Vegas Sphere and MSG Networks. Sirius keeps a modestly thicker net margin, 9.86% against Sphere's 9.04%, and converts far better to cash, a 14.2% free cash yield versus 6.13%. Sirius also trades below book at 0.82 times where Sphere sits at 2.71. Returns on equity are close, 7.21% at Sirius and 5.33% at Sphere. Sirius carries more debt, 0.83 times equity to Sphere's 0.36, and pays a small 0.35% dividend. A cash-rich subscription annuity priced under book against a new physical-venue business finding its economics.
Comparison updated 2026-07-11.
| Metric | SIRI | SPHR |
|---|---|---|
| Price | $30.42 | $148.34 |
| Market cap | $10.3B | $5.3B |
| Sector | Entertainment | Entertainment |
| Stage | Mature | Mature |
| P/E | 12.9 | 50.0 |
| P/B | 0.88 | 2.37 |
| P/S | 1.20 | 4.01 |
| EV/EBITDA | 9.5 | 28.6 |
| Revenue growth | -0.3% | +10.9% |
| Gross margin | 52.9% | — |
| Operating margin | 21.7% | 1.9% |
| Net margin | 9.9% | 9.0% |
| Return on equity | 7.2% | 5.3% |
| Return on assets | 3.1% | 2.8% |
| Return on invested capital | 5.4% | -3.7% |
| FCF yield | 13.2% | 7.0% |
| Dividend yield | 0.3% | — |
| Debt / equity | 0.83 | 0.36 |
| Current ratio | 0.44 | 1.22 |
| Altman Z (solvency) | 1.32 | 1.92 |
| Piotroski F (quality) | 5 / 9 | 7 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.