Lionsgate Studios
LION · Movies & Entertainment
$12.49
1.7%Sphere Entertainment
SPHR · Movies & Entertainment
$108.94
2.4%The short version
- Lionsgate Studios is the larger business, with $2.6B of revenue in fiscal 2026 against $1.2B for Sphere Entertainment, about 2.2 times as much.
- Sphere Entertainment grew revenue faster (18.8%, against 1.8%).
- Lionsgate Studios kept more of each dollar of sales as operating profit (3.7% operating margin, against −18.8% operating margin).
- Lionsgate Studios earned a higher return on the capital invested in it (8.3%, against −4.8%).
| Latest fiscal year | LION · FY26 | SPHR · FY25 |
|---|---|---|
| Size | ||
| Market cap | $3.6B | $3.9B |
| Revenue | $2.6B | $1.2B |
| Free cash flow | $11.4M | — |
| Net income | −$198M | $33.4M |
| Growth | ||
| Revenue growth | 1.8% | 18.8% |
| 5-year growth | — | −3.2% |
| Share count change | 14.7% | 28.3% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 3.7% | −18.8% |
| Net margin | −7.5% | 2.7% |
| FCF margin | 0.4% | — |
| Return on capital | 8.3% | −4.8% |
| Return on equity | — | 1.4% |
| Balance sheet | ||
| Net debt | $1.6B | $171M |
| Net debt / EBITDA | 13.9x | 1.6x |
| Dividends and buybacks | $0.0M | $50.0M |
| Valuation & quality | ||
| P/E | — | — |
| Piotroski F-score | 5 | 7 |
FY18
LION —
SPHR $989M
FY19
LION —
SPHR $1.0B
FY20
LION —
SPHR $1.4B
FY21
LION —
SPHR $648M
FY22
LION —
SPHR $610M
FY23
LION —
SPHR $574M
FY24
LION $2.5B
SPHR $1.0B
FY25
LION $2.6B
SPHR $1.2B
FY26
LION $2.6B
SPHR —
LION
SPHR
FY18
LION —
SPHR −3.2%
FY19
LION —
SPHR −4.4%
FY20
LION —
SPHR 16.4%
FY21
LION —
SPHR −29.1%
FY22
LION —
SPHR −27.2%
FY23
LION —
SPHR −47.6%
FY24
LION −0.6%
SPHR −33.2%
FY25
LION −0.7%
SPHR −18.8%
FY26
LION 3.7%
SPHR —
LION
SPHR
FY18
LION —
SPHR −$43.0M
FY19
LION —
SPHR −$82.6M
FY20
LION —
SPHR −$147M
FY21
LION —
SPHR −$515M
FY22
LION —
SPHR −$615M
FY23
LION —
SPHR —
FY24
LION $387M
SPHR —
FY25
LION −$180M
SPHR —
FY26
LION $11.4M
SPHR —
LION
SPHR
FY18
LION —
SPHR —
FY19
LION —
SPHR —
FY20
LION —
SPHR 13.4%
FY21
LION —
SPHR −8.6%
FY22
LION —
SPHR −5.7%
FY23
LION —
SPHR −5.8%
FY24
LION —
SPHR −7.8%
FY25
LION −1.1%
SPHR −4.8%
FY26
LION 8.3%
SPHR —
LION
SPHR
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.