Sphere Entertainment Co - Class A risk profile
38 Normal where most of the sector sits
Measured 21 October 2026 from SPHR's filed statements. Recomputed nightly.
38 (Normal), driven by Market expectation at 65, over 6 weighted categories on the SOFTWARE profile.
What is measured
| Mechanism | Reading | Band | Direction | Driver |
|---|---|---|---|---|
| Market expectation | 65 | Stretched | Volatile | One-year price volatility — 53.8% |
| Operating pressure | 17 | Contained | Easing | Operating-margin drift — +8.4 percentage points |
| Cash conversion | 12 | Contained | Easing | Capital spending against operating cash — 0.22x |
| Leverage and coverage | 60 | Stretched | Easing | Interest cover — 1.51x |
| Competitive position | 56 | Elevated | Stable | Operating-margin gap against peers — -30.9 percentage points |
| Concentration | 11 | Contained | Easing | Customer concentration — 185 HHI |
These are descriptive readings of disclosed mechanisms, not investment advice, and not a prediction. A band says where a measured input sits, never what to do about it or what happens next.
Communication Services companies with a risk reading
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Financials, valuation and price history for Sphere Entertainment Co - Class A