Sphere Entertainment vs TKO Group
TKO Group reported revenue of $4.7 billion in fiscal 2025, 3.9 times Sphere Entertainment's $1.2 billion in fiscal 2025. Sphere Entertainment's revenue grew 18.8% in its latest year, and TKO Group's fell 3.0%. Sphere Entertainment had an operating margin of -18.8%, against 17.6% at TKO Group.
Side by side
| Sphere Entertainment | TKO Group | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $1.2B | $4.7B |
| Revenue growth | 18.8% | −3.0% |
| Revenue growth a year, last 5 years | −3.2% | — |
| Gross margin | — | — |
| Operating margin | −18.8% | 17.6% |
| Net margin | 2.7% | 4.1% |
| Free cash flow | — | — |
| Free cash flow margin | — | — |
| Return on capital | −4.8% | 5.9% |
| Net debt to EBITDA | 1.6x | 2.4x |
| Dividends and buybacks | $50M | $1.1B |
| Change in diluted share count | 28.3% | 12.9% |
| Last close | $110.44 | $171.23 |
| P/E at the last close | — | — |
| Insider trades, last 12 months | — | bought $5.5 million, sold $68.9 million |
| Piotroski F-score | 7 of 8 | 5 of 8 |
Amounts in each company's own currency, US$ 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
Sphere EntertainmentTKO Group
Operating margin
Percent of revenue
Sphere EntertainmentTKO Group
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Sphere EntertainmentTKO Group
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 Sphere Entertainment and TKO Group pages.