Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical passes the values gate
Price145.14 USD
Fair value175.00
Ethical score70.0/100
Our investment reviews on this name
2026-09-13Read Markdown143.50+1.1% to today
2026-07-02Read Markup153.25-5.3% to today
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Sphere Entertainment Co. holds its Markdown at $145.14. Consolidating, no directional conviction, held for 52 days.
As held on the ledger · 2026-09-21
Phase
Markdown · caution
Quantitative state
Consolidating, no directional conviction, held for 52 days
Price at the screen
$145.14
Valuation
N/A trailing · -70.00 forward price to earnings
Values screen
PASS· score 70.0
Beta
1.61
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
22.84%
Below 33%
Interest-bearing debt is just 22.8% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
16.14%
Below 49%
Money owed to the company is 16.1% of assets, under the 49% limit.
Pass
Revenue purity
1.11%
Below 5%
Only 1.1% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
Fair value range in USD, drawn from the 2026-09-21 screen. The gold marker is the market price at the same screen. A 20.6% margin of safety to the base estimate.
Third-party analyst targets: 13 covering, consensus Strong Buy. The average target sits +21% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-21 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
High tech arenas still struggle to turn a profit
Picture a sold out crowd inside a glowing sphere where visuals wrap around every seat. Sphere Entertainment built that experience and revenue is rising 38 percent, yet the business posts a forward P/E of negative 67.6 times and an ROE of just 5 percent. Analysts see the shares reaching 175 dollars, but the numbers show thin margins and an unknown moat that leave little room for error.
We pass because the valuation gap and strong buy consensus rest on future promises rather than proven cash returns. Profit margins sit at 9 percent while the company carries the heavy costs of new venues and older network assets. Ethical screen clears, yet the weak returns on equity and negative earnings multiple flag a business still proving it can scale without burning cash.
Risk centres on execution and cyclical entertainment spending. One missed show season or slower ticket demand could widen losses quickly. The low ROE already signals capital is not working hard enough. Analysis, not advice.
The risks · The things to watch: it already moves more than the market on an average day.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
SPHR trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-09-13Markdown · changed$143.50-7.0%Entry 5
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 7.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 46% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 263%. Our forward projection puts the odds of a 10% gain over the next month near 43%. The street (12 analysts) rates it strong buy, with a mean price target of $161.
2026-08-13Markup$154.23+0.6%Entry 4
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 0.6% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 46% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 263%. Our forward projection puts the odds of a 10% gain over the next month near 43%. The street (12 analysts) rates it strong buy, with a mean price target of $161.
2026-07-18Markup$153.25+0.0%Entry 3
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 46% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 263%. Our forward projection puts the odds of a 10% gain over the next month near 43%. The street (12 analysts) rates it strong buy, with a mean price target of $161.
2026-07-03Markup$153.25+0.0%Entry 2
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows excellent risk-adjusted returns.
2026-07-02Markup$153.25Entry 1
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows excellent risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
