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Flagship explainer

What drives SPHERE ENTERTAINMENT CO.’s return on equity?

ROE is five filed business factors multiplied together.

DuPont return on equity factor treeReturn on equity branches into tax burden, interest burden, operating margin, asset turnover, and the equity multiplier.Return on equity1%Tax burden58%net income ÷ pretax incomeInterest burden−25%pretax ÷ operating incomeOperating margin−19%operating income ÷ revenueAsset turnover0.28×revenue ÷ average assetsEquity multiplier1.88×average assets ÷ average equityAs of 2025-12-31 · 2 SEC filing sourcesBuy Like Buffett · buylikebuffett.com
DuPont source inputs
InputValueFiscal yearSource
$33.4MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001628280-26-007760 · filed Feb 12, 2026
Income before tax$57.2MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001628280-26-007760 · filed Feb 12, 2026
Operating income−$230MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001628280-26-007760 · filed Feb 12, 2026
$1.2BFY2025
  • 10-K · FY 2025Filing detailsAccession 0001628280-26-007760 · filed Feb 12, 2026
Ending assets$4.2BFY2025
  • 10-K · FY 2025Filing detailsAccession 0001628280-26-007760 · filed Feb 12, 2026
Beginning assets$4.5BFY2024
  • 10-K · FY 2024Filing detailsAccession 0001628280-26-007760 · filed Feb 12, 2026
  • 10-KT · FY 2024Filing detailsAccession 0001795250-25-000011 · filed Mar 3, 2025
$2.2BFY2025
  • 10-K · FY 2025Filing detailsAccession 0001628280-26-007760 · filed Feb 12, 2026
$2.4BFY2024
  • 10-K · FY 2024Filing detailsAccession 0001628280-26-007760 · filed Feb 12, 2026
  • 10-KT · FY 2024Filing detailsAccession 0001795250-25-000011 · filed Mar 3, 2025
Source: · event Dec 31, 2025 · retrieved Sep 4, 2026 · annual-row source set
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SPHR dupont explainer — Buy Like Buffett · Buy Like Buffett