Sphere Entertainment vs TKO Group
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KIRAβs take AI analyst
I put Sphere Entertainment and TKO Group side by side, using each oneβs latest annual report. Here is what stands out:
- TKO Group is the larger business, with $4.7B of revenue in fiscal 2025 against $1.2B for Sphere Entertainment, about 3.9 times as much.
- Sphere Entertainment grew revenue faster (18.8%, against β3.1%).
- TKO Group kept more of each dollar of sales as operating profit (17.6% operating margin, against β18.8%).
- TKO Group earned a higher return on the capital invested in it (5.9%, against β4.8%).
Who comes out ahead
Of the 8 measures where higher (or lower) is clearly better, how many each company leads.
Sphere Entertainment
SPHR
3/8
Revenue growthPiotroski F-scoreNet debt / EBITDA
TKO Group
TKO
5/8
Operating marginNet marginReturn on capitalReturn on equityShare count change
Side by side
Best in the row
| Latest fiscal year | SPHR FY25 | TKO FY25 |
|---|---|---|
| Size | ||
| Market cap | $3.9B | $13.0B |
| Revenue | $1.2B | $4.7B |
| Free cash flow | β | β |
| Net income | $33.4M | $195M |
| Growth | ||
| Revenue growth | 18.8% | β3.1% |
| 5-year growth | β3.2% | β |
| Share count change | 28.3% | 12.9% |
| Profitability | ||
| Gross margin | β | β |
| Operating margin | β18.8% | 17.6% |
| Net margin | 2.7% | 4.1% |
| FCF margin | β | β |
| Return on capital | β4.8% | 5.9% |
| Return on equity | 1.4% | 5.0% |
| Balance sheet | ||
| Net debt | $171M | $3.2B |
| Net debt / EBITDA | 1.6x | 2.4x |
| Dividends and buybacks | $50.0M | $1.1B |
| Valuation & quality | ||
| P/E | β | β |
| Piotroski F-score | 7 | 5 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.