Lionsgate Studios vs Sphere Entertainment
Lionsgate Studios reported revenue of $2.6 billion in fiscal 2026, 2.2 times Sphere Entertainment's $1.2 billion in fiscal 2025. Lionsgate Studios' revenue grew 1.8% in its latest year, and Sphere Entertainment's grew 18.8%. Lionsgate Studios had an operating margin of 3.7%, against -18.8% at Sphere Entertainment. Their fiscal years end in different months (March 31 and December 31), so the periods don't line up exactly.
Side by side
| Lionsgate Studios | Sphere Entertainment | |
|---|---|---|
| Latest fiscal year | FY2026, Mar 31, 2026 | FY2025, Dec 31, 2025 |
| Revenue | $2.6B | $1.2B |
| Revenue growth | 1.8% | 18.8% |
| Revenue growth a year, last 5 years | — | −3.2% |
| Gross margin | — | — |
| Operating margin | 3.7% | −18.8% |
| Net margin | −7.5% | 2.7% |
| Free cash flow | $11M | — |
| Free cash flow margin | 0.4% | — |
| Return on capital | 8.3% | −4.8% |
| Net debt to EBITDA | 13.9x | 1.6x |
| Dividends and buybacks | $0M | $50M |
| Change in diluted share count | 14.7% | 28.3% |
| Last close | $12.14 | $110.44 |
| P/E at the last close | — | — |
| Insider trades, last 12 months | sold $2.0 million | — |
| Piotroski F-score | 5 of 8 | 7 of 8 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Lionsgate StudiosSphere Entertainment
Operating margin
Percent of revenue
Lionsgate StudiosSphere Entertainment
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Lionsgate StudiosSphere Entertainment
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Lionsgate Studios and Sphere Entertainment pages.