20-quarter listed-company comparison

Entertainment Stocks

Entertainment: The Walt Disney Company owns the largest revenue base; Sphere Entertainment Co. has the fastest current growth.

The industry itself · before any single company

How has Entertainment moved against S&P 500?

The line below covers 5.2 years. Over the most recent two of them this industry is 24% ahead of S&P 500. Earnings across its companies fell 18% on average over the last four reported quarters.

TURNING · ahead 3w~Price up, without the fundamentals confirming14 of 32 companies ahead of S&P 500 by 5% or more over three months3 are 20% or more behind over a year while earnings grew 20% or more

RS ↑3w · 20/32 >200d (+0) · 14/32 lead (+2) · EPS 16/32↑

Entertainment, equal-weighted, based at 200 S&P 500, same base, same start trailing 12-month earnings per share rising falling

Strength anatomy MixedHow much of the industry is participating, how recently, and whether the movers score well.

Together14 of 32 stocks moving

Fresh4 crossed in the last 4 weeks

Backed by scoresmovers score +1 vs the industry average

Down the cap ladder — bar is now, tick is four weeks ago

Large 2/7+1

Mid 5/110

Small 7/14+1

Participation is not spreading downward this month; the larger companies are still carrying most of it.

Both lines start at 200 in the same week, so the distance between them is the whole story: the industry line is an equal-weighted index of its 32 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the industry taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

Sector relative strength · before individual stocks

Is Entertainment outperforming S&P 500?

Entertainment has outperformed S&P 500 by 19.5% over the last 52 weeks. Over 13 weeks the gap is a lead of 7.8%. 17 of 26 covered companies currently beat the S&P 500 on Mansfield relative strength, so leadership inside the sector is selective. Starz Entertainment Corp. is the strongest against the sector itself at +41.7%.

+7.8%Sector vs S&P 500 · 13 weeks

+19.5%Sector vs S&P 500 · 52 weeks

17/26Stocks leading S&P 500

14/26Stocks leading sector

Sector metric: — as of latest available · unclassified · direction unavailable.

The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

Entertainment has outperformed S&P 500 by 19.5% over 52 weeks and 7.8% over 13 weeks. 17 of 26 covered companies beat the S&P 500 on Mansfield relative strength, while 14 of 26 beat the sector itself. The Walt Disney Company leads with revenue of $97,263 million, based on 23 of 27 comparable companies through Mar 2026.

Is the Entertainment sector outperforming S&P 500?

Which Entertainment company is largest by revenue?

The Walt Disney Company leads with revenue of $97,263 million, based on 23 of 27 comparable companies through Mar 2026.

Which Entertainment company is growing fastest?

Sphere Entertainment Co. has the fastest current revenue growth at 21.6%, across 22 of 27 comparable companies.

Which Entertainment company has the strongest 4-Factor Sector Score?

Roku, Inc. ranks first at 61/100 with 64.6% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Entertainment company reports the most CAPEX?

The Walt Disney Company reports the largest latest CAPEX at $1,973 million, with 27 of 27 companies comparable.

Which Entertainment company has the least gross debt?

Starz Entertainment Corp. has the lowest comparable gross debt at $0 million. The Walt Disney Company has the highest at $47,358 million.

Which Entertainment company has the lowest comparable PEG?

The Walt Disney Company has the lowest comparable Guarded PEG at 0.53, among 11 of 27 companies that pass the metric’s comparability rules.

How much history does this Entertainment comparison include?

The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

Companies

complete canonical membership

Combined market value

$783.0B

Netflix, Inc.

Revenue growing

18/22

positive TTM year-on-year growth

Beating S&P 500

17/26

positive Mansfield relative strength

Global company selection

00 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%

Roku, Inc. has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 64.6% evidence confidence.

Sirius XM Holdings Inc. has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is guarded: positive earnings, positive 5–60% three-year EPS growth, and a positive P/E are required.

1. Roku, Inc. · ROKU

61.0/100 · Mixed-positive evidence · 65% evidence

Exact sum: 24.2 + 12.3 + 9.3 + 15.2 = 61

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

24.2/35Growth & earnings

Revenue 16.8% · PAT — · OPM change 9.8 pp

62% evidence

12.3/25Capital efficiency

ROCE 1.7% · debt/equity 0.15×

80% evidence

9.3/20Valuation

P/E 71.1× · PEG —

15% evidence

15.2/20Relative strength

RS sector 13.6% · RS bench 24.2% · 1Y 79.9%

100% evidence

2. Netflix, Inc. · NFLX

58.8/100 · Mixed-positive evidence · 86% evidence

Exact sum: 23.2 + 18.3 + 15.4 + 1.9 = 58.8

Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -37.2% and the one-year return is -37.5%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.

23.2/35Growth & earnings

Revenue 16% · PAT 33.2% · OPM change -0.7 pp

95% evidence

18.3/25Capital efficiency

ROCE 9.3% · debt/equity 0.47×

80% evidence

15.4/20Valuation

P/E 22.5× · PEG 0.64

65% evidence

1.9/20Relative strength

RS sector -37.2% · RS bench -30.8% · 1Y -37.5%

100% evidence

3. Sirius XM Holdings Inc. · SIRI

58.4/100 · Mixed-positive evidence · 75% evidence

Exact sum: 16.2 + 13.9 + 11.5 + 16.8 = 58.4

Decision use: Price leads the evidence: RS versus the benchmark is 23.8%, but earnings trajectory is weak. Wait for revenue and profit confirmation.

16.2/35Growth & earnings

Revenue -0.3% · PAT — · OPM change 3 pp

62% evidence

13.9/25Capital efficiency

ROCE 1.8% · debt/equity 0.83×

80% evidence

11.5/20Valuation

P/E 9.7× · PEG 1.91

65% evidence

16.8/20Relative strength

RS sector 13.2% · RS bench 23.8% · 1Y 49.6%

100% evidence

4. Sphere Entertainment Co. · SPHR

57.7/100 · Mixed-positive evidence · 65% evidence

Exact sum: 25.7 + 9.3 + 9.4 + 13.3 = 57.7

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

25.7/35Growth & earnings

Revenue 21.6% · PAT — · OPM change 29.9 pp

62% evidence

9.3/25Capital efficiency

ROCE 0.3% · debt/equity 0.42×

80% evidence

9.4/20Valuation

P/E 66× · PEG —

15% evidence

13.3/20Relative strength

RS sector 20.2% · RS bench 31% · 1Y 247.1%

100% evidence

5. IMAX Corporation · IMAX

56.1/100 · Thin evidence · provisional · 59% evidence

Exact sum: 16.5 + 13.6 + 9.7 + 16.3 = 56.1

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

16.5/35Growth & earnings

Revenue — · PAT — · OPM change -7.1 pp

45% evidence

13.6/25Capital efficiency

ROCE 3.1% · debt/equity 0.63×

80% evidence

9.7/20Valuation

P/E 55.4× · PEG —

15% evidence

16.3/20Relative strength

RS sector 11.7% · RS bench 22.4% · 1Y 87.7%

100% evidence

6. The Walt Disney Company · DIS

53.4/100 · Mixed-positive evidence · 82% evidence

Exact sum: 18.6 + 15.2 + 15.9 + 3.7 = 53.4

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

18.6/35Growth & earnings

Revenue 3.4% · PAT 30.5% · OPM change -0.3 pp

83% evidence

15.2/25Capital efficiency

ROCE 2.1% · debt/equity 0.41×

80% evidence

15.9/20Valuation

P/E 14.8× · PEG 0.53

65% evidence

3.7/20Relative strength

RS sector -21.6% · RS bench -13.9% · 1Y -15.2%

100% evidence

7. Cinemark Holdings, Inc. · CNK

52.8/100 · Mixed-positive evidence · 65% evidence

Exact sum: 21 + 5.8 + 10.6 + 15.4 = 52.8

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

21.0/35Growth & earnings

Revenue 6.9% · PAT -29.7% · OPM change 7.3 pp

62% evidence

5.8/25Capital efficiency

ROCE 0.7% · debt/equity 7.67×

80% evidence

10.6/20Valuation

P/E 25.2× · PEG —

15% evidence

15.4/20Relative strength

RS sector 8.7% · RS bench 18.9% · 1Y 35.5%

100% evidence

8. Warner Music Group Corp. · WMG

49.3/100 · Mixed-negative evidence · 82% evidence

Exact sum: 23.9 + 13.1 + 7.1 + 5.2 = 49.3

Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -19.2% and the one-year return is 0.5%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.

23.9/35Growth & earnings

Revenue 12.6% · PAT 8.4% · OPM change 3.9 pp

83% evidence

13.1/25Capital efficiency

ROCE 4.5% · debt/equity 5.89×

80% evidence

7.1/20Valuation

P/E 30× · PEG 2.79

65% evidence

5.2/20Relative strength

RS sector -19.2% · RS bench -11.2% · 1Y 0.5%

100% evidence

9. TKO Group Holdings, Inc. · TKO

48.6/100 · Mixed-negative evidence · 82% evidence

Exact sum: 22.4 + 14.8 + 8 + 3.4 = 48.6

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

22.4/35Growth & earnings

Revenue 2.7% · PAT 100% · OPM change 2.5 pp

83% evidence

14.8/25Capital efficiency

ROCE 2.5% · debt/equity 0.58×

80% evidence

8.0/20Valuation

P/E 75.2× · PEG 2.09

65% evidence

3.4/20Relative strength

RS sector -19.5% · RS bench -11.6% · 1Y 12.3%

100% evidence

10. Fox Corporation · FOXA

48.4/100 · Mixed-negative evidence · 82% evidence

Exact sum: 16.9 + 16.1 + 13 + 2.4 = 48.4

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

16.9/35Growth & earnings

Revenue 0.6% · PAT -7.6% · OPM change 4.5 pp

83% evidence

16.1/25Capital efficiency

ROCE 4.2% · debt/equity 0.59×

80% evidence

13.0/20Valuation

P/E 14× · PEG 1.46

65% evidence

2.4/20Relative strength

RS sector -21.6% · RS bench -13.8% · 1Y 3.9%

100% evidence

11. The Marcus Corporation · MCS

47.7/100 · Mixed-negative evidence · 75% evidence

Exact sum: 15.3 + 7.4 + 5.4 + 19.6 = 47.7

Decision use: Price leads the evidence: RS versus the benchmark is 35.2%, but earnings trajectory is weak. Wait for revenue and profit confirmation.

15.3/35Growth & earnings

Revenue 2.3% · PAT — · OPM change 1.2 pp

62% evidence

7.4/25Capital efficiency

ROCE -2.2% · debt/equity 0.79×

80% evidence

5.4/20Valuation

P/E 39.9× · PEG 5.17

65% evidence

19.6/20Relative strength

RS sector 23.8% · RS bench 35.2% · 1Y 67.7%

100% evidence

12. Manchester United plc · MANU

46.8/100 · Thin evidence · provisional · 56% evidence

Exact sum: 17.7 + 5.7 + 10 + 13.4 = 46.8

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

17.7/35Growth & earnings

Revenue 5.9% · PAT — · OPM change 2.3 pp

62% evidence

5.7/25Capital efficiency

ROCE 0.6% · debt/equity 4.22×

80% evidence

10.0/20Valuation

P/E — · PEG —

0% evidence

13.4/20Relative strength

RS sector 11.1% · RS bench 21.6% · 1Y 33.1%

70% evidence

13. Lionsgate Studios Corp. · LION

44.1/100 · Thin evidence · provisional · 56% evidence

Exact sum: 8.9 + 12.2 + 10 + 13 = 44.1

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

8.9/35Growth & earnings

Revenue 1.8% · PAT — · OPM change -12.4 pp

62% evidence

12.2/25Capital efficiency

ROCE 4.2% · debt/equity —

57% evidence

10.0/20Valuation

P/E — · PEG —

0% evidence

13.0/20Relative strength

RS sector 18% · RS bench 28.7% · 1Y 118.6%

100% evidence

14. Reservoir Media, Inc. · RSVR

43.3/100 · Mixed-negative evidence · 82% evidence

Exact sum: 14.5 + 11.2 + 4 + 13.6 = 43.3

Decision use: Price leads the evidence: RS versus the benchmark is 19.4%, but earnings trajectory is weak. Wait for revenue and profit confirmation.

14.5/35Growth & earnings

Revenue 10.8% · PAT -12.5% · OPM change -0.4 pp

83% evidence

11.2/25Capital efficiency

ROCE 1.4% · debt/equity 1.22×

80% evidence

4.0/20Valuation

P/E 75.3× · PEG 8.29

65% evidence

13.6/20Relative strength

RS sector 9.1% · RS bench 19.4% · 1Y 44.2%

100% evidence

15. News Corporation · NWS

43.3/100 · Mixed-negative evidence · 76% evidence

Exact sum: 17 + 14.3 + 5.9 + 6.1 = 43.3

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

17.0/35Growth & earnings

Revenue 4.3% · PAT -4.8% · OPM change 1.2 pp

83% evidence

14.3/25Capital efficiency

ROCE 1.6% · debt/equity 0.31×

80% evidence

5.9/20Valuation

P/E 36.1× · PEG 3.87

65% evidence

6.1/20Relative strength

RS sector -10.6% · RS bench -1.8% · 1Y -4.3%

70% evidence

16. AMC Global Media Inc. · AMCX

41.9/100 · Thin evidence · provisional · 59% evidence

Exact sum: 10.8 + 8 + 11.2 + 11.9 = 41.9

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

10.8/35Growth & earnings

Revenue -3.4% · PAT — · OPM change -5.8 pp

62% evidence

8.0/25Capital efficiency

ROCE 0.9% · debt/equity 1.86×

80% evidence

11.2/20Valuation

P/E 11.3× · PEG —

15% evidence

11.9/20Relative strength

RS sector 3.9% · RS bench 13.8% · 1Y 82.2%

70% evidence

17. Madison Square Garden Sports Corp. · MSGS

40.9/100 · Thin evidence · provisional · 59% evidence

Exact sum: 9.8 + 7.7 + 8.5 + 14.9 = 40.9

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

9.8/35Growth & earnings

Revenue 1.5% · PAT -675% · OPM change -7.1 pp

62% evidence

7.7/25Capital efficiency

ROCE 0.2% · debt/equity —

57% evidence

8.5/20Valuation

P/E 927.2× · PEG —

15% evidence

14.9/20Relative strength

RS sector 18.3% · RS bench 29.3% · 1Y 99.5%

100% evidence

18. Madison Square Garden Entertainment Corp. · MSGE

39.9/100 · Mixed-negative evidence · 76% evidence

Exact sum: 7.9 + 11.6 + 6.8 + 13.6 = 39.9

Decision use: Price leads the evidence: RS versus the benchmark is 25.9%, but earnings trajectory is weak. Wait for revenue and profit confirmation.

7.9/35Growth & earnings

Revenue 4.5% · PAT -62.9% · OPM change -4.8 pp

83% evidence

11.6/25Capital efficiency

ROCE 3.8% · debt/equity —

57% evidence

6.8/20Valuation

P/E 57.8× · PEG 2.7

65% evidence

13.6/20Relative strength

RS sector 15.1% · RS bench 25.9% · 1Y 109.3%

100% evidence

19. Paramount Skydance Corporation · PSKY

37.0/100 · Mixed-negative evidence · 65% evidence

Exact sum: 15.4 + 10.2 + 10.3 + 1.1 = 37

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

15.4/35Growth & earnings

Revenue 1.1% · PAT — · OPM change 0.8 pp

62% evidence

10.2/25Capital efficiency

ROCE 1.8% · debt/equity 1.3×

80% evidence

10.3/20Valuation

P/E 31.5× · PEG —

15% evidence

1.1/20Relative strength

RS sector -46.1% · RS bench -40.7% · 1Y -38%

100% evidence

20. Live Nation Entertainment, Inc. · LYV

33.2/100 · Adverse evidence · 82% evidence

Exact sum: 9.3 + 4.6 + 8 + 11.3 = 33.2

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

9.3/35Growth & earnings

Revenue 12.6% · PAT -78.3% · OPM change -13.2 pp

83% evidence

4.6/25Capital efficiency

ROCE -3.5% · debt/equity 7.38×

80% evidence

8.0/20Valuation

P/E 118.4× · PEG 2.08

65% evidence

11.3/20Relative strength

RS sector -2.2% · RS bench 7.1% · 1Y 23.8%

100% evidence

21. Warner Bros. Discovery, Inc. · WBD

27.1/100 · Adverse evidence · 65% evidence

Exact sum: 8.3 + 6.2 + 8.8 + 3.8 = 27.1

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

8.3/35Growth & earnings

Revenue -3% · PAT — · OPM change -27.4 pp

62% evidence

6.2/25Capital efficiency

ROCE -2.9% · debt/equity 0.96×

80% evidence

8.8/20Valuation

P/E 99.4× · PEG —

15% evidence

3.8/20Relative strength

RS sector -10.2% · RS bench -1.5% · 1Y 99.1%

100% evidence

22. AMC Entertainment Holdings, Inc. · AMC

55.5/100 · Thin evidence · provisional · 44% evidence

Exact sum: 21.2 + 10.2 + 10 + 14.1 = 55.5

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

21.2/35Growth & earnings

Revenue — · PAT — · OPM change 12.5 pp

45% evidence

10.2/25Capital efficiency

ROCE 3.8% · debt/equity —

57% evidence

10.0/20Valuation

P/E — · PEG —

0% evidence

14.1/20Relative strength

RS sector 12.1% · RS bench 23% · 1Y -6.3%

70% evidence

23. Atlanta Braves Holdings, Inc. · BATRK

51.3/100 · Thin evidence · provisional · 44% evidence

Exact sum: 20.3 + 9.7 + 11.5 + 9.8 = 51.3

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

20.3/35Growth & earnings

Revenue 6.5% · PAT — · OPM change 10.3 pp

33% evidence

9.7/25Capital efficiency

ROCE 1.4% · debt/equity 1.52×

60% evidence

11.5/20Valuation

P/E -2548.6× · PEG —

15% evidence

9.8/20Relative strength

RS sector -1.6% · RS bench 7.8% · 1Y 14.3%

70% evidence

24. Starz Entertainment Corp. · STRZ

50.8/100 · Thin evidence · provisional · 42% evidence

Exact sum: 18.1 + 5.7 + 10 + 17 = 50.8

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

18.1/35Growth & earnings

Revenue — · PAT — · OPM change -5.2 pp

39% evidence

5.7/25Capital efficiency

ROCE -254.9% · debt/equity —

57% evidence

10.0/20Valuation

P/E — · PEG —

0% evidence

17.0/20Relative strength

RS sector 41.7% · RS bench 53.8% · 1Y 80%

70% evidence

25. Formula One Group · FWONK

48.2/100 · Thin evidence · provisional · 48% evidence

Exact sum: 19.6 + 11.5 + 9.9 + 7.2 = 48.2

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

19.6/35Growth & earnings

Revenue — · PAT — · OPM change 3.5 pp

32% evidence

11.5/25Capital efficiency

ROCE 0.5% · debt/equity 0.6×

80% evidence

9.9/20Valuation

P/E 44.4× · PEG —

15% evidence

7.2/20Relative strength

RS sector -8.7% · RS bench 0.2% · 1Y 2.2%

70% evidence

26. Versant Media Group, Inc. · VSNT

45.6/100 · Thin evidence · provisional · 49% evidence

Exact sum: 7.8 + 17.8 + 10 + 10 = 45.6

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

7.8/35Growth & earnings

Revenue -4% · PAT -34.7% · OPM change -3 pp

83% evidence

17.8/25Capital efficiency

ROCE 3.9% · debt/equity 0.36×

80% evidence

10.0/20Valuation

P/E — · PEG —

0% evidence

10.0/20Relative strength

RS sector — · RS bench — · 1Y —

0% evidence

27. Angel Studios, Inc. · ANGX

38.6/100 · Thin evidence · provisional · 48% evidence

Exact sum: 22 + 3.6 + 10 + 3 = 38.6

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

22.0/35Growth & earnings

Revenue — · PAT — · OPM change 68.5 pp

39% evidence

3.6/25Capital efficiency

ROCE -14.5% · debt/equity 4.75×

80% evidence

10.0/20Valuation

P/E — · PEG —

0% evidence

3.0/20Relative strength

RS sector -51.6% · RS bench -47.1% · 1Y -65.6%

70% evidence

01 · compare level, then change

Revenue Scale & Growth Durability

The Walt Disney Company has the highest Revenue among the 27 Entertainment companies compared here, at $97,263 million. Netflix, Inc. is next at $48,371 million. Sphere Entertainment Co. has the highest Revenue growth at 21.6%, so level and change sit with different companies. 23 of 27 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: The Walt Disney Company is the scale leader at $97,263 million, 101.1% ahead of Netflix, Inc.. Sphere Entertainment Co.'s growth is 21.6% from a $1,326 million base, with 19 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderThe Walt Disney Company · $97,263 million

Gap101.1% versus #2 · Netflix, Inc.

Persistence7/8 recent comparable periods

Coverage23/27 companies · 475 observations

Investor read: The Walt Disney Company is the scale benchmark; Sphere Entertainment Co. is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: The Walt Disney Company's growth falls below Sphere Entertainment Co.'s for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

Revenuelargest

1The Walt Disney Company DIS$97.3B

2Netflix, Inc. NFLX$48.4B

3Warner Bros. Discovery, Inc. WBD$37.2B

4Paramount Skydance Corporation PSKY$29.0B

5Live Nation Entertainment, Inc. LYV$25.6B

Revenue growthfastest growers

1Sphere Entertainment Co. SPHR22%

2Roku, Inc. ROKU17%

3Netflix, Inc. NFLX16%

4Live Nation Entertainment, Inc. LYV13%

5Warner Music Group Corp. WMG13%

Revenue · company comparison

23/27 level · 22/27 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Revenue	Revenue growth	Reported
The Walt Disney Company DIS	$25.2B	6.6%	Mar 2026
Netflix, Inc. NFLX	$12.6B	13%	Jun 2026
Warner Bros. Discovery, Inc. WBD	$8.9B	-1.0%	Mar 2026
Paramount Skydance Corporation PSKY	$7.3B	2.2%	Mar 2026
Fox Corporation FOXA	$4.0B	-8.6%	Mar 2026
Live Nation Entertainment, Inc. LYV	$3.8B	12%	Mar 2026
News Corporation NWS	$2.2B	8.8%	Mar 2026
Sirius XM Holdings Inc. SIRI	$2.1B	1.1%	Mar 2026
Warner Music Group Corp. WMG	$1.7B	17%	Mar 2026
Versant Media Group, Inc. VSNT	$1.7B	-1.1%	Mar 2026
TKO Group Holdings, Inc. TKO	$1.6B	26%	Mar 2026
Roku, Inc. ROKU	$1.2B	22%	Mar 2026
Formula One Group FWONK	$1.1B	19%	Mar 2026
AMC Entertainment Holdings, Inc. AMC	$1.0B	21%	Jun 2026
Lionsgate Studios Corp. LION	$907M	4.7%	Mar 2026
Cinemark Holdings, Inc. CNK	$643M	19%	Mar 2026
AMC Global Media Inc. AMCX	$542M	-2.3%	Mar 2026
Madison Square Garden Sports Corp. MSGS	$432M	1.9%	Mar 2026
Sphere Entertainment Co. SPHR	$386M	37%	Mar 2026
Atlanta Braves Holdings, Inc. BATRK	$312M	7.2%	Sep 2025
Starz Entertainment Corp. STRZ	$307M	-67%	Mar 2026
Madison Square Garden Entertainment Corp. MSGE	$246M	1.7%	Mar 2026
Manchester United plc MANU	$189M	17%	Mar 2026
The Marcus Corporation MCS	$154M	3.4%	Mar 2026
Angel Studios, Inc. ANGX	$115M	145%	Mar 2026
IMAX Corporation IMAX	$81M	-6.9%	Jun 2026
Reservoir Media, Inc. RSVR	$47M	15%	Mar 2026

Full 20-quarter history · every available company

Revenue · reported quarter history

Showing the 12 largest of 27 companies with a series here. The remaining 15 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Formula One Group · FWONK

Sep 2021$668M

Dec 2021$787M

Mar 2022$360M

Jun 2022$744M

Sep 2022$715M

Dec 2022$754M

Mar 2023$381M

Jun 2023$724M

Sep 2023$887M

Dec 2023$1.2B

Mar 2024$587M

Jun 2024$988M

Sep 2024$911M

Dec 2024$1.2B

Mar 2025$447M

Jun 2025$1.3B

Sep 2025$1.1B

Dec 2025—

Mar 2026—

Jun 2026—

Fox Corporation · FOXA

Sep 2021$3.0B

Dec 2021$4.4B

Mar 2022$3.5B

Jun 2022$3.0B

Sep 2022$3.2B

Dec 2022$4.6B

Mar 2023$4.1B

Jun 2023$3.0B

Sep 2023$3.2B

Dec 2023$4.2B

Mar 2024$3.4B

Jun 2024$3.1B

Sep 2024$3.6B

Dec 2024$5.1B

Mar 2025$4.4B

Jun 2025$3.3B

Sep 2025$3.7B

Dec 2025$5.2B

Mar 2026$4.0B

Jun 2026—

Live Nation Entertainment, Inc. · LYV

Sep 2021$2.7B

Dec 2021$2.7B

Mar 2022$1.8B

Jun 2022$4.4B

Sep 2022$6.2B

Dec 2022$4.3B

Mar 2023$3.1B

Jun 2023$5.6B

Sep 2023$8.2B

Dec 2023$5.8B

Mar 2024$3.8B

Jun 2024$6.0B

Sep 2024$7.7B

Dec 2024$5.7B

Mar 2025$3.4B

Jun 2025$7.0B

Sep 2025$8.5B

Dec 2025$6.3B

Mar 2026$3.8B

Jun 2026—

Madison Square Garden Sports Corp. · MSGS

Sep 2021$19M

Dec 2021$290M

Mar 2022$338M

Jun 2022$175M

Sep 2022$24M

Dec 2022$354M

Mar 2023$383M

Jun 2023$127M

Sep 2023$43M

Dec 2023$327M

Mar 2024$430M

Jun 2024$227M

Sep 2024$53M

Dec 2024$358M

Mar 2025$424M

Jun 2025$204M

Sep 2025$39M

Dec 2025$403M

Mar 2026$432M

Jun 2026—

Netflix, Inc. · NFLX

Sep 2021$7.5B

Dec 2021$7.7B

Mar 2022$7.9B

Jun 2022$8.0B

Sep 2022$7.9B

Dec 2022$7.9B

Mar 2023$8.2B

Jun 2023$8.2B

Sep 2023$8.5B

Dec 2023$8.8B

Mar 2024$9.4B

Jun 2024$9.6B

Sep 2024$9.8B

Dec 2024$10.2B

Mar 2025$10.5B

Jun 2025$11.1B

Sep 2025$11.5B

Dec 2025$12.1B

Mar 2026$12.3B

Jun 2026$12.6B

News Corporation · NWS

Sep 2021$2.5B

Dec 2021$2.7B

Mar 2022$2.5B

Jun 2022$2.7B

Sep 2022$2.5B

Dec 2022$2.5B

Mar 2023$2.4B

Jun 2023$2.4B

Sep 2023$2.5B

Dec 2023$2.1B

Mar 2024$2.0B

Jun 2024$2.1B

Sep 2024$2.1B

Dec 2024$2.2B

Mar 2025$2.0B

Jun 2025$2.1B

Sep 2025$2.1B

Dec 2025$2.4B

Mar 2026$2.2B

Jun 2026—

Roku, Inc. · ROKU

Sep 2021$680M

Dec 2021$865M

Mar 2022$734M

Jun 2022$764M

Sep 2022$761M

Dec 2022$867M

Mar 2023$741M

Jun 2023$847M

Sep 2023$912M

Dec 2023$984M

Mar 2024$881M

Jun 2024$968M

Sep 2024$1.1B

Dec 2024$1.2B

Mar 2025$1.0B

Jun 2025$1.1B

Sep 2025$1.2B

Dec 2025$1.4B

Mar 2026$1.2B

Jun 2026—

Sirius XM Holdings Inc. · SIRI

Sep 2021$2.2B

Dec 2021$2.3B

Mar 2022$2.2B

Jun 2022$2.3B

Sep 2022$2.3B

Dec 2022$2.3B

Mar 2023$2.1B

Jun 2023$2.3B

Sep 2023$2.3B

Dec 2023$2.3B

Mar 2024$2.2B

Jun 2024$2.2B

Sep 2024$2.2B

Dec 2024$2.2B

Mar 2025$2.1B

Jun 2025$2.1B

Sep 2025$2.2B

Dec 2025$2.2B

Mar 2026$2.1B

Jun 2026—

The Walt Disney Company · DIS

Sep 2021$17.0B

Dec 2021$18.5B

Mar 2022$21.8B

Jun 2022$19.2B

Sep 2022$21.5B

Dec 2022$20.2B

Mar 2023—

Jun 2023$21.8B

Sep 2023$22.3B

Dec 2023$23.5B

Mar 2024$22.1B

Jun 2024$23.2B

Sep 2024$22.6B

Dec 2024$24.7B

Mar 2025$23.6B

Jun 2025$23.7B

Sep 2025$22.5B

Dec 2025$26.0B

Mar 2026$25.2B

Jun 2026—

TKO Group Holdings, Inc. · TKO

Sep 2021—

Dec 2021—

Mar 2022$333M

Jun 2022$328M

Sep 2022$341M

Dec 2022$272M

Mar 2023$307M

Jun 2023$305M

Sep 2023$449M

Dec 2023$614M

Mar 2024$1.2B

Jun 2024$1.2B

Sep 2024$1.5B

Dec 2024$928M

Mar 2025$1.3B

Jun 2025$1.3B

Sep 2025$1.1B

Dec 2025$1.0B

Mar 2026$1.6B

Jun 2026—

Warner Bros. Discovery, Inc. · WBD

Sep 2021$3.2B

Dec 2021$3.2B

Mar 2022$3.2B

Jun 2022$9.8B

Sep 2022$9.8B

Dec 2022$11.0B

Mar 2023$10.7B

Jun 2023$10.4B

Sep 2023$10.0B

Dec 2023$10.3B

Mar 2024$10.0B

Jun 2024$9.7B

Sep 2024$9.6B

Dec 2024$10.0B

Mar 2025$9.0B

Jun 2025$9.8B

Sep 2025$9.0B

Dec 2025$9.5B

Mar 2026$8.9B

Jun 2026—

Warner Music Group Corp. · WMG

Sep 2021$1.4B

Dec 2021$1.6B

Mar 2022—

Jun 2022$1.4B

Sep 2022$1.4B

Dec 2022$1.5B

Mar 2023$1.4B

Jun 2023$1.6B

Sep 2023$1.6B

Dec 2023$1.7B

Mar 2024$1.5B

Jun 2024$1.6B

Sep 2024$1.6B

Dec 2024$1.7B

Mar 2025$1.5B

Jun 2025$1.7B

Sep 2025$1.9B

Dec 2025$1.8B

Mar 2026$1.7B

Jun 2026—

Revenue growth · reported quarter history

Showing the 12 largest of 27 companies with a series here. The remaining 15 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Formula One Group · FWONK

Sep 2021—

Dec 202162%

Mar 2022100%

Jun 202249%

Sep 20227.0%

Dec 2022-4.2%

Mar 20235.8%

Jun 2023-2.7%

Sep 202324%

Dec 202363%

Mar 202454%

Jun 202436%

Sep 20242.7%

Dec 2024-5.1%

Mar 2025-24%

Jun 202536%

Sep 202519%

Dec 2025—

Mar 2026—

Jun 2026—

Fox Corporation · FOXA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 20225.0%

Sep 20224.8%

Dec 20223.7%

Mar 202318%

Jun 2023-0.0%

Sep 20230.5%

Dec 2023-8.1%

Mar 2024-16%

Jun 20242.0%

Sep 202411%

Dec 202420%

Mar 202527%

Jun 20256.3%

Sep 20254.9%

Dec 20252.1%

Mar 2026-8.6%

Jun 2026—

Live Nation Entertainment, Inc. · LYV

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022670%

Sep 2022128%

Dec 202259%

Mar 202373%

Jun 202327%

Sep 202333%

Dec 202336%

Mar 202422%

Jun 20247.0%

Sep 2024-6.2%

Dec 2024-2.4%

Mar 2025-11%

Jun 202516%

Sep 202511%

Dec 202511%

Mar 202612%

Jun 2026—

Madison Square Garden Sports Corp. · MSGS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202219%

Sep 202226%

Dec 202222%

Mar 202313%

Jun 2023-27%

Sep 202379%

Dec 2023-7.6%

Mar 202412%

Jun 202479%

Sep 202423%

Dec 20249.5%

Mar 2025-1.4%

Jun 2025-10%

Sep 2025-26%

Dec 202513%

Mar 20261.9%

Jun 2026—

Netflix, Inc. · NFLX

Sep 2021—

Dec 2021—

Mar 2022—

Jun 20228.6%

Sep 20225.9%

Dec 20221.9%

Mar 20233.7%

Jun 20232.7%

Sep 20237.8%

Dec 202312%

Mar 202415%

Jun 202417%

Sep 202415%

Dec 202416%

Mar 202513%

Jun 202516%

Sep 202517%

Dec 202518%

Mar 202616%

Jun 202613%

News Corporation · NWS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 20227.3%

Sep 2022-1.0%

Dec 2022-7.2%

Mar 2023-1.8%

Jun 2023-9.0%

Sep 20230.9%

Dec 2023-15%

Mar 2024-19%

Jun 2024-14%

Sep 2024-16%

Dec 20244.8%

Mar 20250.8%

Jun 20250.8%

Sep 20252.3%

Dec 20255.5%

Mar 20268.8%

Jun 2026—

Roku, Inc. · ROKU

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202218%

Sep 202212%

Dec 20220.2%

Mar 20231.0%

Jun 202311%

Sep 202320%

Dec 202313%

Mar 202419%

Jun 202414%

Sep 202416%

Dec 202422%

Mar 202516%

Jun 202515%

Sep 202514%

Dec 202516%

Mar 202622%

Jun 2026—

Sirius XM Holdings Inc. · SIRI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 20224.4%

Sep 20223.7%

Dec 20220.1%

Mar 2023-1.9%

Jun 2023-0.1%

Sep 2023-0.4%

Dec 20230.2%

Mar 20240.8%

Jun 2024-3.2%

Sep 2024-4.4%

Dec 2024-4.4%

Mar 2025-4.4%

Jun 2025-1.8%

Sep 2025-0.6%

Dec 20250.2%

Mar 20261.1%

Jun 2026—

The Walt Disney Company · DIS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 202226%

Dec 20228.7%

Mar 2023—

Jun 202313%

Sep 20233.8%

Dec 202317%

Mar 2024—

Jun 20246.1%

Sep 20241.1%

Dec 20244.9%

Mar 20257.0%

Jun 20252.1%

Sep 2025-0.5%

Dec 20255.2%

Mar 20266.6%

Jun 2026—

TKO Group Holdings, Inc. · TKO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023-7.8%

Jun 2023-7.0%

Sep 202332%

Dec 2023126%

Mar 2024298%

Jun 2024291%

Sep 2024243%

Dec 202451%

Mar 20253.9%

Jun 20259.6%

Sep 2025-27%

Dec 202512%

Mar 202626%

Jun 2026—

Warner Bros. Discovery, Inc. · WBD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022221%

Sep 2022212%

Dec 2022245%

Mar 2023239%

Jun 20235.4%

Sep 20231.6%

Dec 2023-6.6%

Mar 2024-6.9%

Jun 2024-6.2%

Sep 2024-3.6%

Dec 2024-2.5%

Mar 2025-9.8%

Jun 20251.0%

Sep 2025-6.0%

Dec 2025-5.7%

Mar 2026-1.0%

Jun 2026—

Warner Music Group Corp. · WMG

Sep 2021—

Dec 2021—

Mar 2022—

Jun 20222.7%

Sep 20224.1%

Dec 2022-7.8%

Mar 2023—

Jun 202314%

Sep 202311%

Dec 202317%

Mar 20246.8%

Jun 2024-0.6%

Sep 20242.8%

Dec 2024-4.7%

Mar 2025-0.7%

Jun 20258.7%

Sep 202515%

Dec 202510%

Mar 202617%

Jun 2026—

02 · compare level, then change

Operating Economics & Margin Trend

Netflix, Inc. has the highest OPM among the 27 Entertainment companies compared here, at 33.4%. Versant Media Group, Inc. is next at 26.2%. Angel Studios, Inc. has the highest Margin change at +68.5 percentage points, so level and change sit with different companies. 27 of 27 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Netflix, Inc. leads opm at 33.4%; Angel Studios, Inc. leads margin change at +68.5 percentage points.

LeaderNetflix, Inc. · 33.4%

Gap27.5% versus #2 · Versant Media Group, Inc.

Persistence6/8 recent comparable periods

Coverage27/27 companies · 474 observations

Investor read: Netflix, Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

OPMhighest

1Netflix, Inc. NFLX33%

2Versant Media Group, Inc. VSNT26%

3Reservoir Media, Inc. RSVR25%

4Sirius XM Holdings Inc. SIRI22%

5TKO Group Holdings, Inc. TKO21%

Margin changefastest expanders

1Angel Studios, Inc. ANGX+68.5 pp

2Sphere Entertainment Co. SPHR+29.9 pp

3AMC Entertainment Holdings, Inc. AMC+12.5 pp

4Atlanta Braves Holdings, Inc. BATRK · older report+10.3 pp

5Roku, Inc. ROKU+9.8 pp

Operating margin · company comparison

27/27 level · 27/27 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	OPM	Margin change	Reported
Netflix, Inc. NFLX	33%	−0.7 pp	Jun 2026
Versant Media Group, Inc. VSNT	26%	−3.0 pp	Mar 2026
Reservoir Media, Inc. RSVR	25%	−0.4 pp	Mar 2026
Sirius XM Holdings Inc. SIRI	22%	+3.0 pp	Mar 2026
TKO Group Holdings, Inc. TKO	21%	+2.5 pp	Mar 2026
Fox Corporation FOXA	21%	+4.5 pp	Mar 2026
Formula One Group FWONK	16%	+3.5 pp	Mar 2026
Warner Music Group Corp. WMG	15%	+3.9 pp	Mar 2026
The Walt Disney Company DIS	14%	−0.3 pp	Mar 2026
Lionsgate Studios Corp. LION	13%	−12.4 pp	Mar 2026
Atlanta Braves Holdings, Inc. BATRK	13%	+10.3 pp	Sep 2025
IMAX Corporation IMAX	12%	−7.1 pp	Jun 2026
News Corporation NWS	9.3%	+1.2 pp	Mar 2026
Paramount Skydance Corporation PSKY	8.4%	+0.8 pp	Mar 2026
Madison Square Garden Entertainment Corp. MSGE	6.5%	−4.8 pp	Mar 2026
AMC Global Media Inc. AMCX	5.8%	−5.8 pp	Mar 2026
Roku, Inc. ROKU	4.1%	+9.8 pp	Mar 2026
Cinemark Holdings, Inc. CNK	3.7%	+7.3 pp	Mar 2026
Manchester United plc MANU	2.7%	+2.3 pp	Mar 2026
Sphere Entertainment Co. SPHR	1.9%	+29.9 pp	Mar 2026
Madison Square Garden Sports Corp. MSGS	0.5%	−7.1 pp	Mar 2026
Angel Studios, Inc. ANGX	-2.3%	+68.5 pp	Mar 2026
AMC Entertainment Holdings, Inc. AMC	-4.4%	+12.5 pp	Jun 2026
Live Nation Entertainment, Inc. LYV	-9.8%	−13.2 pp	Mar 2026
The Marcus Corporation MCS	-13%	+1.2 pp	Mar 2026
Warner Bros. Discovery, Inc. WBD	-28%	−27.4 pp	Mar 2026
Starz Entertainment Corp. STRZ	-50%	−5.2 pp	Mar 2026

Full 20-quarter history · every available company

OPM · reported quarter history

Showing the 12 largest of 27 companies with a series here. The remaining 15 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Formula One Group · FWONK

Sep 202110%

Dec 20217.9%

Mar 20225.3%

Jun 20226.6%

Sep 20229.0%

Dec 20225.4%

Mar 20234.2%

Jun 20237.2%

Sep 202312%

Dec 20239.9%

Mar 202418%

Jun 20247.1%

Sep 202412%

Dec 20249.0%

Mar 2025-13%

Jun 202521%

Sep 202516%

Dec 2025—

Mar 2026—

Jun 2026—

Fox Corporation · FOXA

Sep 202132%

Dec 20214.8%

Mar 202221%

Jun 202222%

Sep 202231%

Dec 20229.2%

Mar 2023-4.2%

Jun 202315%

Sep 202324%

Dec 20235.5%

Mar 202423%

Jun 202420%

Sep 202426%

Dec 202410%

Mar 202516%

Jun 202522%

Sep 202526%

Dec 202511%

Mar 202621%

Jun 2026—

Live Nation Entertainment, Inc. · LYV

Sep 20215.1%

Dec 2021-4.6%

Mar 20221.5%

Jun 20227.2%

Sep 20228.2%

Dec 2022-3.0%

Mar 20234.6%

Jun 20236.9%

Sep 20238.0%

Dec 2023-1.4%

Mar 2024-1.1%

Jun 20247.7%

Sep 20248.4%

Dec 2024-4.2%

Mar 20253.4%

Jun 20256.9%

Sep 20259.3%

Dec 2025-2.3%

Mar 2026-9.8%

Jun 2026—

Madison Square Garden Sports Corp. · MSGS

Sep 2021-186%

Dec 202112%

Mar 202218%

Jun 202214%

Sep 2022-149%

Dec 202215%

Mar 202321%

Jun 2023-9.6%

Sep 2023-34%

Dec 20238.8%

Mar 202419%

Jun 202423%

Sep 2024-16%

Dec 20243.7%

Mar 20257.6%

Jun 2025-11%

Sep 2025-70%

Dec 20255.5%

Mar 20260.5%

Jun 2026—

Netflix, Inc. · NFLX

Sep 202124%

Dec 20218.2%

Mar 202225%

Jun 202220%

Sep 202219%

Dec 20227.0%

Mar 202321%

Jun 202322%

Sep 202322%

Dec 202317%

Mar 202428%

Jun 202427%

Sep 202430%

Dec 202422%

Mar 202532%

Jun 202534%

Sep 202528%

Dec 202525%

Mar 202632%

Jun 202633%

News Corporation · NWS

Sep 20218.9%

Dec 202115%

Mar 20226.0%

Jun 20223.9%

Sep 20226.1%

Dec 20228.6%

Mar 20234.6%

Jun 20233.2%

Sep 20236.2%

Dec 202313%

Mar 20245.5%

Jun 20246.7%

Sep 20249.1%

Dec 202416%

Mar 20258.1%

Jun 20255.7%

Sep 20259.5%

Dec 202516%

Mar 20269.3%

Jun 2026—

Roku, Inc. · ROKU

Sep 202110%

Dec 20212.5%

Mar 2022-3.2%

Jun 2022-15%

Sep 2022-19%

Dec 2022-29%

Mar 2023-29%

Jun 2023-15%

Sep 2023-38%

Dec 2023-11%

Mar 2024-8.2%

Jun 2024-7.4%

Sep 2024-3.4%

Dec 2024-3.3%

Mar 2025-5.7%

Jun 2025-2.1%

Sep 20250.8%

Dec 20254.7%

Mar 20264.1%

Jun 2026—

Sirius XM Holdings Inc. · SIRI

Sep 202129%

Dec 202121%

Mar 202223%

Jun 202222%

Sep 202221%

Dec 202225%

Mar 202319%

Jun 202321%

Sep 202323%

Dec 202320%

Mar 202419%

Jun 202422%

Sep 2024-134%

Dec 202423%

Mar 202519%

Jun 202517%

Sep 202523%

Dec 202510%

Mar 202622%

Jun 2026—

The Walt Disney Company · DIS

Sep 20217.8%

Dec 20212.7%

Mar 202210%

Jun 20227.3%

Sep 202211%

Dec 20222.7%

Mar 2023—

Jun 20239.7%

Sep 20230.0%

Dec 202313%

Mar 20243.7%

Jun 202415%

Sep 20245.3%

Dec 202416%

Mar 202514%

Jun 202515%

Sep 20259.9%

Dec 202515%

Mar 202614%

Jun 2026—

TKO Group Holdings, Inc. · TKO

Sep 2021—

Dec 2021—

Mar 202228%

Jun 202221%

Sep 202250%

Dec 202244%

Mar 2023-48%

Jun 202347%

Sep 202321%

Dec 202310%

Mar 2024-14%

Jun 20249.6%

Sep 20242.2%

Dec 20245.9%

Mar 202519%

Jun 202528%

Sep 202515%

Dec 20255.5%

Mar 202621%

Jun 2026—

Warner Bros. Discovery, Inc. · WBD

Sep 202110%

Dec 202116%

Mar 202211%

Jun 2022-37%

Sep 2022-22%

Dec 2022-17%

Mar 2023-5.2%

Jun 2023-8.7%

Sep 20231.0%

Dec 2023-1.8%

Mar 2024-2.7%

Jun 2024-105%

Sep 20242.9%

Dec 20241.6%

Mar 2025-0.4%

Jun 2025-1.9%

Sep 20256.8%

Dec 20253.7%

Mar 2026-28%

Jun 2026—

Warner Music Group Corp. · WMG

Sep 20217.3%

Dec 202115%

Mar 2022—

Jun 202212%

Sep 202210%

Dec 202218%

Mar 20238.9%

Jun 202312%

Sep 202313%

Dec 202320%

Mar 20248.0%

Jun 202413%

Sep 20248.8%

Dec 202413%

Mar 202511%

Jun 202510%

Sep 20257.7%

Dec 202516%

Mar 202615%

Jun 2026—

Margin change · reported quarter history

Showing the 12 largest of 27 companies with a series here. The remaining 15 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Formula One Group · FWONK

Sep 2021—

Dec 2021+16.4 pp

Mar 2022+31.4 pp

Jun 2022+15.2 pp

Sep 2022−1.2 pp

Dec 2022−2.5 pp

Mar 2023−1.1 pp

Jun 2023+0.6 pp

Sep 2023+3.1 pp

Dec 2023+4.5 pp

Mar 2024+13.5 pp

Jun 2024−0.1 pp

Sep 2024+0.3 pp

Dec 2024−0.9 pp

Mar 2025−30.2 pp

Jun 2025+14.0 pp

Sep 2025+3.5 pp

Dec 2025—

Mar 2026—

Jun 2026—

Fox Corporation · FOXA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+0.3 pp

Sep 2022−1.2 pp

Dec 2022+4.4 pp

Mar 2023−24.9 pp

Jun 2023−6.8 pp

Sep 2023−6.7 pp

Dec 2023−3.7 pp

Mar 2024+26.7 pp

Jun 2024+5.1 pp

Sep 2024+1.7 pp

Dec 2024+4.5 pp

Mar 2025−6.4 pp

Jun 2025+2.1 pp

Sep 2025+0.1 pp

Dec 2025+1.2 pp

Mar 2026+4.5 pp

Jun 2026—

Live Nation Entertainment, Inc. · LYV

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+29.3 pp

Sep 2022+3.1 pp

Dec 2022+1.6 pp

Mar 2023+3.1 pp

Jun 2023−0.3 pp

Sep 2023−0.2 pp

Dec 2023+1.6 pp

Mar 2024−5.7 pp

Jun 2024+0.8 pp

Sep 2024+0.4 pp

Dec 2024−2.8 pp

Mar 2025+4.5 pp

Jun 2025−0.8 pp

Sep 2025+0.9 pp

Dec 2025+1.9 pp

Mar 2026−13.2 pp

Jun 2026—

Madison Square Garden Sports Corp. · MSGS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+27.6 pp

Sep 2022+36.9 pp

Dec 2022+2.2 pp

Mar 2023+3.2 pp

Jun 2023−23.1 pp

Sep 2023+114.6 pp

Dec 2023−5.8 pp

Mar 2024−2.9 pp

Jun 2024+32.6 pp

Sep 2024+18.9 pp

Dec 2024−5.1 pp

Mar 2025−10.9 pp

Jun 2025−34.1 pp

Sep 2025−54.0 pp

Dec 2025+1.8 pp

Mar 2026−7.1 pp

Jun 2026—

Netflix, Inc. · NFLX

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−5.4 pp

Sep 2022−4.2 pp

Dec 2022−1.2 pp

Mar 2023−4.1 pp

Jun 2023+2.5 pp

Sep 2023+3.1 pp

Dec 2023+9.9 pp

Mar 2024+7.1 pp

Jun 2024+4.9 pp

Sep 2024+7.2 pp

Dec 2024+5.3 pp

Mar 2025+3.6 pp

Jun 2025+6.9 pp

Sep 2025−1.4 pp

Dec 2025+2.3 pp

Mar 2026+0.6 pp

Jun 2026−0.7 pp

News Corporation · NWS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+5.5 pp

Sep 2022−2.8 pp

Dec 2022−5.9 pp

Mar 2023−1.4 pp

Jun 2023−0.7 pp

Sep 2023+0.1 pp

Dec 2023+4.4 pp

Mar 2024+0.9 pp

Jun 2024+3.5 pp

Sep 2024+2.9 pp

Dec 2024+2.6 pp

Mar 2025+2.6 pp

Jun 2025−1.0 pp

Sep 2025+0.4 pp

Dec 2025+0.2 pp

Mar 2026+1.2 pp

Jun 2026—

Roku, Inc. · ROKU

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−25.2 pp

Sep 2022−29.4 pp

Dec 2022−31.3 pp

Mar 2023−25.5 pp

Jun 2023−0.4 pp

Sep 2023−19.1 pp

Dec 2023+18.2 pp

Mar 2024+20.5 pp

Jun 2024+7.5 pp

Sep 2024+35.0 pp

Dec 2024+7.3 pp

Mar 2025+2.5 pp

Jun 2025+5.3 pp

Sep 2025+4.2 pp

Dec 2025+8.0 pp

Mar 2026+9.8 pp

Jun 2026—

Sirius XM Holdings Inc. · SIRI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−8.5 pp

Sep 2022−8.1 pp

Dec 2022+3.8 pp

Mar 2023−4.1 pp

Jun 2023−0.7 pp

Sep 2023+2.7 pp

Dec 2023−4.7 pp

Mar 2024−0.3 pp

Jun 2024+0.3 pp

Sep 2024−156.8 pp

Dec 2024+3.2 pp

Mar 2025−0.2 pp

Jun 2025−4.5 pp

Sep 2025+156.4 pp

Dec 2025−12.8 pp

Mar 2026+3.0 pp

Jun 2026—

The Walt Disney Company · DIS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+3.3 pp

Dec 20220.0 pp

Mar 2023—

Jun 2023+2.4 pp

Sep 2023−11.1 pp

Dec 2023+9.8 pp

Mar 2024—

Jun 2024+4.8 pp

Sep 2024+5.3 pp

Dec 2024+3.4 pp

Mar 2025+10.7 pp

Jun 2025+0.1 pp

Sep 2025+4.6 pp

Dec 2025−1.0 pp

Mar 2026−0.3 pp

Jun 2026—

TKO Group Holdings, Inc. · TKO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023−75.3 pp

Jun 2023+26.0 pp

Sep 2023−28.9 pp

Dec 2023−34.0 pp

Mar 2024+33.4 pp

Jun 2024−37.5 pp

Sep 2024−18.7 pp

Dec 2024−4.3 pp

Mar 2025+32.9 pp

Jun 2025+18.5 pp

Sep 2025+13.2 pp

Dec 2025−0.4 pp

Mar 2026+2.5 pp

Jun 2026—

Warner Bros. Discovery, Inc. · WBD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−62.4 pp

Sep 2022−32.7 pp

Dec 2022−33.1 pp

Mar 2023−16.4 pp

Jun 2023+28.3 pp

Sep 2023+23.3 pp

Dec 2023+15.4 pp

Mar 2024+2.5 pp

Jun 2024−96.4 pp

Sep 2024+1.9 pp

Dec 2024+3.4 pp

Mar 2025+2.3 pp

Jun 2025+103.2 pp

Sep 2025+3.9 pp

Dec 2025+2.1 pp

Mar 2026−27.4 pp

Jun 2026—

Warner Music Group Corp. · WMG

Sep 2021—

Dec 2021—

Mar 2022—

Jun 20220.0 pp

Sep 2022+2.9 pp

Dec 2022+3.0 pp

Mar 2023—

Jun 20230.0 pp

Sep 2023+3.2 pp

Dec 2023+2.5 pp

Mar 2024−0.9 pp

Jun 2024+1.2 pp

Sep 2024−4.6 pp

Dec 2024−7.5 pp

Mar 2025+3.3 pp

Jun 2025−3.3 pp

Sep 2025−1.1 pp

Dec 2025+2.9 pp

Mar 2026+3.9 pp

Jun 2026—

03 · compare level, then change

Profit Scale & Acceleration

Netflix, Inc. has the highest Net profit among the 27 Entertainment companies compared here, at $13,650 million. The Walt Disney Company is next at $12,335 million. TKO Group Holdings, Inc. has the highest Profit growth at the 100% top of the scoring scale, so level and change sit with different companies.

What the numbers say: Netflix, Inc. leads with $13,650 million of TTM profit, 10.7% above The Walt Disney Company. TKO Group Holdings, Inc. shows ≥100% on the scoring scale (303.9% uncapped) growth from a $618 million profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderNetflix, Inc. · $13,650 million

Gap10.7% versus #2 · The Walt Disney Company

Persistence8/8 recent comparable periods

Coverage23/27 companies · 478 observations

Investor read: Netflix, Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

Net profitlargest

1Netflix, Inc. NFLX$13.7B

2The Walt Disney Company DIS$12.3B

3Fox Corporation FOXA$1.8B

4Versant Media Group, Inc. VSNT$851M

5Sirius XM Holdings Inc. SIRI$846M

Profit growthfastest growers

1TKO Group Holdings, Inc. TKO100%

2Netflix, Inc. NFLX33%

3The Walt Disney Company DIS31%

4Warner Music Group Corp. WMG8.4%

5News Corporation NWS-4.8%

Net profit · company comparison

23/27 level · 10/27 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Net profit	Profit growth	Reported
Netflix, Inc. NFLX	$3.4B	8.8%	Jun 2026
The Walt Disney Company DIS	$2.5B	-28%	Mar 2026
Versant Media Group, Inc. VSNT	$286M	-22%	Mar 2026
Warner Music Group Corp. WMG	$254M	291%	Mar 2026
TKO Group Holdings, Inc. TKO	$248M	52%	Mar 2026
Sirius XM Holdings Inc. SIRI	$245M	20%	Mar 2026
Fox Corporation FOXA	$175M	-51%	Mar 2026
News Corporation NWS	$121M	13%	Mar 2026
Roku, Inc. ROKU	$86M	-1,088%	Mar 2026
Formula One Group FWONK	$66M	-44%	Mar 2026
Paramount Skydance Corporation PSKY	$62M	-15%	Mar 2026
Atlanta Braves Holdings, Inc. BATRK	$30M	200%	Sep 2025
IMAX Corporation IMAX	$6M	-25%	Jun 2026
Madison Square Garden Entertainment Corp. MSGE	$5M	-38%	Mar 2026
Sphere Entertainment Co. SPHR	$4M	-257%	Mar 2026
Reservoir Media, Inc. RSVR	$4M	33%	Mar 2026
Lionsgate Studios Corp. LION	$0M	-100%	Mar 2026
Cinemark Holdings, Inc. CNK	$-6M	-33%	Mar 2026
Manchester United plc MANU	$-12M	-800%	Mar 2026
Angel Studios, Inc. ANGX	$-14M	-154%	Mar 2026
The Marcus Corporation MCS	$-15M	500%	Mar 2026
AMC Global Media Inc. AMCX	$-17M	-177%	Mar 2026
Madison Square Garden Sports Corp. MSGS	$-20M	700%	Mar 2026
AMC Entertainment Holdings, Inc. AMC	$-117M	-275%	Jun 2026
Starz Entertainment Corp. STRZ	$-165M	-437%	Mar 2026
Live Nation Entertainment, Inc. LYV	$-380M	-926%	Mar 2026
Warner Bros. Discovery, Inc. WBD	$-2.9B	-201%	Mar 2026

Full 20-quarter history · every available company

Net profit · reported quarter history

Showing the 12 largest of 27 companies with a series here. The remaining 15 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Formula One Group · FWONK

Sep 2021$-50M

Dec 2021$-149M

Mar 2022$-35M

Jun 2022$111M

Sep 2022$108M

Dec 2022$374M

Mar 2023$-109M

Jun 2023$116M

Sep 2023$118M

Dec 2023$60M

Mar 2024$77M

Jun 2024$24M

Sep 2024$117M

Dec 2024$-248M

Mar 2025$22M

Jun 2025$382M

Sep 2025$66M

Dec 2025—

Mar 2026—

Jun 2026—

Fox Corporation · FOXA

Sep 2021$708M

Dec 2021$-73M

Mar 2022$290M

Jun 2022$308M

Sep 2022$613M

Dec 2022$321M

Mar 2023$-50M

Jun 2023$369M

Sep 2023$415M

Dec 2023$115M

Mar 2024$704M

Jun 2024$320M

Sep 2024$832M

Dec 2024$388M

Mar 2025$354M

Jun 2025$719M

Sep 2025$609M

Dec 2025$247M

Mar 2026$175M

Jun 2026—

Live Nation Entertainment, Inc. · LYV

Sep 2021$87M

Dec 2021$-162M

Mar 2022$-49M

Jun 2022$228M

Sep 2022$397M

Dec 2022$-202M

Mar 2023$44M

Jun 2023$331M

Sep 2023$581M

Dec 2023$-225M

Mar 2024$-43M

Jun 2024$376M

Sep 2024$516M

Dec 2024$282M

Mar 2025$46M

Jun 2025$303M

Sep 2025$478M

Dec 2025$-136M

Mar 2026$-380M

Jun 2026—

Madison Square Garden Sports Corp. · MSGS

Sep 2021$-17M

Dec 2021$15M

Mar 2022$24M

Jun 2022$27M

Sep 2022$-19M

Dec 2022$22M

Mar 2023$52M

Jun 2023$-9M

Sep 2023$-19M

Dec 2023$14M

Mar 2024$38M

Jun 2024$25M

Sep 2024$-8M

Dec 2024$1M

Mar 2025$-14M

Jun 2025$-2M

Sep 2025$-9M

Dec 2025$8M

Mar 2026$-20M

Jun 2026—

Netflix, Inc. · NFLX

Sep 2021$1.4B

Dec 2021$607M

Mar 2022$1.6B

Jun 2022$1.4B

Sep 2022$1.4B

Dec 2022$55M

Mar 2023$1.3B

Jun 2023$1.5B

Sep 2023$1.7B

Dec 2023$938M

Mar 2024$2.3B

Jun 2024$2.1B

Sep 2024$2.4B

Dec 2024$1.9B

Mar 2025$2.9B

Jun 2025$3.1B

Sep 2025$2.5B

Dec 2025$2.4B

Mar 2026$5.3B

Jun 2026$3.4B

News Corporation · NWS

Sep 2021$267M

Dec 2021$262M

Mar 2022$104M

Jun 2022$127M

Sep 2022$66M

Dec 2022$94M

Mar 2023$59M

Jun 2023$-32M

Sep 2023$58M

Dec 2023$194M

Mar 2024$64M

Jun 2024$67M

Sep 2024$149M

Dec 2024$306M

Mar 2025$107M

Jun 2025$86M

Sep 2025$150M

Dec 2025$242M

Mar 2026$121M

Jun 2026—

Roku, Inc. · ROKU

Sep 2021$69M

Dec 2021$24M

Mar 2022$-26M

Jun 2022$-112M

Sep 2022$-122M

Dec 2022$-237M

Mar 2023$-194M

Jun 2023$-108M

Sep 2023$-330M

Dec 2023$-78M

Mar 2024$-51M

Jun 2024$-34M

Sep 2024$-9M

Dec 2024$-36M

Mar 2025$-27M

Jun 2025$11M

Sep 2025$25M

Dec 2025$80M

Mar 2026$86M

Jun 2026—

Sirius XM Holdings Inc. · SIRI

Sep 2021$343M

Dec 2021$319M

Mar 2022$309M

Jun 2022$292M

Sep 2022$247M

Dec 2022$365M

Mar 2023$233M

Jun 2023$310M

Sep 2023$291M

Dec 2023$228M

Mar 2024$241M

Jun 2024$354M

Sep 2024$-3.0B

Dec 2024$287M

Mar 2025$204M

Jun 2025$205M

Sep 2025$297M

Dec 2025$99M

Mar 2026$245M

Jun 2026—

The Walt Disney Company · DIS

Sep 2021$1.1B

Dec 2021$256M

Mar 2022$1.2B

Jun 2022$597M

Sep 2022$1.5B

Dec 2022$254M

Mar 2023—

Jun 2023$1.5B

Sep 2023$-153M

Dec 2023$2.2B

Mar 2024$216M

Jun 2024$2.8B

Sep 2024$564M

Dec 2024$2.6B

Mar 2025$3.4B

Jun 2025$5.9B

Sep 2025$1.4B

Dec 2025$2.5B

Mar 2026$2.5B

Jun 2026—

TKO Group Holdings, Inc. · TKO

Sep 2021—

Dec 2021—

Mar 2022$66M

Jun 2022$49M

Sep 2022$130M

Dec 2022$69M

Mar 2023$88M

Jun 2023$83M

Sep 2023$21M

Dec 2023$-16M

Mar 2024$-237M

Jun 2024$45M

Sep 2024$5M

Dec 2024$-60M

Mar 2025$163M

Jun 2025$266M

Sep 2025$105M

Dec 2025$-1M

Mar 2026$248M

Jun 2026—

Warner Bros. Discovery, Inc. · WBD

Sep 2021$197M

Dec 2021$91M

Mar 2022$475M

Jun 2022$-3.4B

Sep 2022$-2.3B

Dec 2022$-2.1B

Mar 2023$-1.1B

Jun 2023$-1.2B

Sep 2023$-407M

Dec 2023$-392M

Mar 2024$-955M

Jun 2024$-10.0B

Sep 2024$141M

Dec 2024$-640M

Mar 2025$-449M

Jun 2025$1.6B

Sep 2025$-143M

Dec 2025$-247M

Mar 2026$-2.9B

Jun 2026—

Warner Music Group Corp. · WMG

Sep 2021$61M

Dec 2021$209M

Mar 2022—

Jun 2022$134M

Sep 2022$164M

Dec 2022$233M

Mar 2023$58M

Jun 2023$167M

Sep 2023$176M

Dec 2023$265M

Mar 2024$77M

Jun 2024$167M

Sep 2024$103M

Dec 2024$330M

Mar 2025$65M

Jun 2025$126M

Sep 2025$100M

Dec 2025$241M

Mar 2026$254M

Jun 2026—

Profit growth · reported quarter history

Showing the 12 largest of 27 companies with a series here. The remaining 15 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Formula One Group · FWONK

Sep 2021—

Dec 2021-455%

Mar 2022—

Jun 2022102%

Sep 2022—

Dec 2022—

Mar 2023—

Jun 20234.5%

Sep 20239.3%

Dec 2023-84%

Mar 2024—

Jun 2024-79%

Sep 2024-0.9%

Dec 2024-513%

Mar 2025-71%

Jun 20251,492%

Sep 2025-44%

Dec 2025—

Mar 2026—

Jun 2026—

Fox Corporation · FOXA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202213%

Sep 2022-13%

Dec 2022—

Mar 2023-117%

Jun 202320%

Sep 2023-32%

Dec 2023-64%

Mar 2024—

Jun 2024-13%

Sep 2024100%

Dec 2024237%

Mar 2025-50%

Jun 2025125%

Sep 2025-27%

Dec 2025-36%

Mar 2026-51%

Jun 2026—

Live Nation Entertainment, Inc. · LYV

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022356%

Dec 2022—

Mar 2023—

Jun 202345%

Sep 202346%

Dec 2023—

Mar 2024-198%

Jun 202414%

Sep 2024-11%

Dec 2024—

Mar 2025—

Jun 2025-19%

Sep 2025-7.4%

Dec 2025-148%

Mar 2026-926%

Jun 2026—

Madison Square Garden Sports Corp. · MSGS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-45%

Sep 2022—

Dec 202247%

Mar 2023117%

Jun 2023-133%

Sep 2023—

Dec 2023-36%

Mar 2024-27%

Jun 2024—

Sep 2024—

Dec 2024-93%

Mar 2025-137%

Jun 2025-108%

Sep 2025—

Dec 2025700%

Mar 2026—

Jun 2026—

Netflix, Inc. · NFLX

Sep 2021—

Dec 2021—

Mar 2022—

Jun 20226.5%

Sep 2022-3.5%

Dec 2022-91%

Mar 2023-18%

Jun 20233.3%

Sep 202320%

Dec 20231,605%

Mar 202479%

Jun 202444%

Sep 202441%

Dec 202499%

Mar 202524%

Jun 202546%

Sep 20257.7%

Dec 202529%

Mar 202683%

Jun 20268.8%

News Corporation · NWS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022-75%

Dec 2022-64%

Mar 2023-43%

Jun 2023-125%

Sep 2023-12%

Dec 2023106%

Mar 20248.5%

Jun 2024—

Sep 2024157%

Dec 202458%

Mar 202567%

Jun 202528%

Sep 20250.7%

Dec 2025-21%

Mar 202613%

Jun 2026—

Roku, Inc. · ROKU

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-253%

Sep 2022-277%

Dec 2022-1,088%

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Sirius XM Holdings Inc. · SIRI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-33%

Sep 2022-28%

Dec 202214%

Mar 2023-25%

Jun 20236.2%

Sep 202318%

Dec 2023-38%

Mar 20243.4%

Jun 202414%

Sep 2024-1,116%

Dec 202426%

Mar 2025-15%

Jun 2025-42%

Sep 2025—

Dec 2025-66%

Mar 202620%

Jun 2026—

The Walt Disney Company · DIS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 202233%

Dec 2022-0.8%

Mar 2023—

Jun 2023149%

Sep 2023-110%

Dec 2023747%

Mar 2024—

Jun 202491%

Sep 2024—

Dec 202423%

Mar 20251,475%

Jun 2025109%

Sep 2025156%

Dec 2025-6.1%

Mar 2026-28%

Jun 2026—

TKO Group Holdings, Inc. · TKO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 202333%

Jun 202369%

Sep 2023-84%

Dec 2023-123%

Mar 2024-369%

Jun 2024-46%

Sep 2024-76%

Dec 2024—

Mar 2025—

Jun 2025491%

Sep 20252,000%

Dec 2025—

Mar 202652%

Jun 2026—

Warner Bros. Discovery, Inc. · WBD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-575%

Sep 2022-1,260%

Dec 2022-2,385%

Mar 2023-323%

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025-201%

Dec 2025—

Mar 2026—

Jun 2026—

Warner Music Group Corp. · WMG

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202231%

Sep 2022169%

Dec 202211%

Mar 2023—

Jun 202325%

Sep 20237.3%

Dec 202314%

Mar 202433%

Jun 20240.0%

Sep 2024-41%

Dec 202425%

Mar 2025-16%

Jun 2025-25%

Sep 2025-2.9%

Dec 2025-27%

Mar 2026291%

Jun 2026—

04 · compare level, then change

Capacity Spending & Returns On It

The Walt Disney Company has the highest CAPEX among the 27 Entertainment companies compared here, at $1,973 million. Live Nation Entertainment, Inc. is next at $309 million. Live Nation Entertainment, Inc. has the highest CAPEX intensity at 8.1%, so level and change sit with different companies. 27 of 27 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: The Walt Disney Company reports $1,973 million of CAPEX; Live Nation Entertainment, Inc. has the highest covered intensity at 8.1%. Coverage is only 27 of 27 companies and 474 reported observations, so this is partial evidence—not a complete sector rank.

LeaderThe Walt Disney Company · $1,973 million

Gap538.5% versus #2 · Live Nation Entertainment, Inc.

Persistence8/8 recent comparable periods

Coverage27/27 companies · 474 observations

Investor read: Use the CAPEX rank as a diligence queue. Verify commissioning, utilization, cash conversion and post-investment ROCE before treating spend as value creation.

This conclusion weakens if: CAPEX rises without higher utilization, operating cash flow or incremental returns.

CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.

CAPEXlargest spenders

1The Walt Disney Company DIS$2.0B

2Live Nation Entertainment, Inc. LYV$309M

3Warner Bros. Discovery, Inc. WBD$268M

4Netflix, Inc. NFLX$219M

5Fox Corporation FOXA$135M

CAPEX intensityhighest reinvestment intensity

1Live Nation Entertainment, Inc. LYV8.1%

2The Walt Disney Company DIS7.8%

3IMAX Corporation IMAX7.4%

4Cinemark Holdings, Inc. CNK5.9%

5Sirius XM Holdings Inc. SIRI5.0%

Capital expenditure · company comparison

27/27 level · 27/27 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	CAPEX	CAPEX intensity	Reported
The Walt Disney Company DIS	$2.0B	7.8%	Mar 2026
Live Nation Entertainment, Inc. LYV	$309M	8.1%	Mar 2026
Warner Bros. Discovery, Inc. WBD	$268M	3.0%	Mar 2026
Netflix, Inc. NFLX	$219M	1.7%	Jun 2026
Fox Corporation FOXA	$135M	3.4%	Mar 2026
Sirius XM Holdings Inc. SIRI	$105M	5.0%	Mar 2026
News Corporation NWS	$100M	4.6%	Mar 2026
Paramount Skydance Corporation PSKY	$89M	1.2%	Mar 2026
AMC Entertainment Holdings, Inc. AMC	$45M	4.4%	Jun 2026
Cinemark Holdings, Inc. CNK	$38M	5.9%	Mar 2026
Warner Music Group Corp. WMG	$27M	1.6%	Mar 2026
Versant Media Group, Inc. VSNT	$27M	1.6%	Mar 2026
TKO Group Holdings, Inc. TKO	$20M	1.3%	Mar 2026
Formula One Group FWONK	$20M	0.3%	Mar 2026
Madison Square Garden Entertainment Corp. MSGE	$10M	4.1%	Mar 2026
Atlanta Braves Holdings, Inc. BATRK	$8M	2.6%	Sep 2025
The Marcus Corporation MCS	$7M	4.5%	Mar 2026
Sphere Entertainment Co. SPHR	$5M	1.3%	Mar 2026
IMAX Corporation IMAX	$5M	7.4%	Jun 2026
Starz Entertainment Corp. STRZ	$5M	1.6%	Mar 2026
Lionsgate Studios Corp. LION	$4M	0.4%	Mar 2026
Roku, Inc. ROKU	$3M	0.2%	Mar 2026
AMC Global Media Inc. AMCX	$3M	0.6%	Mar 2026
Manchester United plc MANU	$1M	0.5%	Mar 2026
Madison Square Garden Sports Corp. MSGS	$0M	0.0%	Mar 2026
Angel Studios, Inc. ANGX	$0M	0.0%	Mar 2026
Reservoir Media, Inc. RSVR	$0M	0.0%	Mar 2026

Full 20-quarter history · every available company

CAPEX · reported quarter history

Showing the 12 largest of 27 companies with a series here. The remaining 15 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Formula One Group · FWONK

Sep 2021$90M

Dec 2021$160M

Mar 2022$111M

Jun 2022$344M

Sep 2022$100M

Dec 2022$180M

Mar 2023$281M

Jun 2023$263M

Sep 2023$319M

Dec 2023$118M

Mar 2024$27M

Jun 2024$13M

Sep 2024$12M

Dec 2024$23M

Mar 2025$33M

Jun 2025$22M

Sep 2025$3M

Dec 2025$61M

Mar 2026$20M

Jun 2026—

Fox Corporation · FOXA

Sep 2021$53M

Dec 2021$68M

Mar 2022$70M

Jun 2022$116M

Sep 2022$74M

Dec 2022$79M

Mar 2023$84M

Jun 2023$120M

Sep 2023$71M

Dec 2023$79M

Mar 2024$83M

Jun 2024$112M

Sep 2024$64M

Dec 2024$74M

Mar 2025$74M

Jun 2025$119M

Sep 2025$104M

Dec 2025$122M

Mar 2026$135M

Jun 2026—

Live Nation Entertainment, Inc. · LYV

Sep 2021$46M

Dec 2021$49M

Mar 2022$63M

Jun 2022$68M

Sep 2022$76M

Dec 2022$141M

Mar 2023$117M

Jun 2023$86M

Sep 2023$102M

Dec 2023$134M

Mar 2024$134M

Jun 2024$200M

Sep 2024$158M

Dec 2024$155M

Mar 2025$171M

Jun 2025$263M

Sep 2025$276M

Dec 2025$352M

Mar 2026$309M

Jun 2026—

Madison Square Garden Sports Corp. · MSGS

Sep 2021$0M

Dec 2021$0M

Mar 2022$1M

Jun 2022$0M

Sep 2022$0M

Dec 2022$0M

Mar 2023$0M

Jun 2023$0M

Sep 2023$0M

Dec 2023$1M

Mar 2024$0M

Jun 2024$0M

Sep 2024$0M

Dec 2024$1M

Mar 2025$2M

Jun 2025$0M

Sep 2025$0M

Dec 2025$1M

Mar 2026$0M

Jun 2026—

Netflix, Inc. · NFLX

Sep 2021$167M

Dec 2021$166M

Mar 2022$121M

Jun 2022$90M

Sep 2022$85M

Dec 2022$112M

Mar 2023$62M

Jun 2023$101M

Sep 2023$104M

Dec 2023$82M

Mar 2024$76M

Jun 2024$78M

Sep 2024$127M

Dec 2024$159M

Mar 2025$128M

Jun 2025$156M

Sep 2025$165M

Dec 2025$239M

Mar 2026$196M

Jun 2026$219M

News Corporation · NWS

Sep 2021$101M

Dec 2021$107M

Mar 2022$107M

Jun 2022$184M

Sep 2022$104M

Dec 2022$113M

Mar 2023$133M

Jun 2023$149M

Sep 2023$81M

Dec 2023$73M

Mar 2024$92M

Jun 2024$111M

Sep 2024$75M

Dec 2024$82M

Mar 2025$93M

Jun 2025$157M

Sep 2025$81M

Dec 2025$99M

Mar 2026$100M

Jun 2026—

Roku, Inc. · ROKU

Sep 2021$14M

Dec 2021$12M

Mar 2022$15M

Jun 2022$37M

Sep 2022$44M

Dec 2022$65M

Mar 2023$54M

Jun 2023$18M

Sep 2023$7M

Dec 2023$4M

Mar 2024$1M

Jun 2024$1M

Sep 2024$1M

Dec 2024$2M

Mar 2025$2M

Jun 2025$1M

Sep 2025$1M

Dec 2025$1M

Mar 2026$3M

Jun 2026—

Sirius XM Holdings Inc. · SIRI

Sep 2021$80M

Dec 2021$144M

Mar 2022$97M

Jun 2022$99M

Sep 2022$83M

Dec 2022$147M

Mar 2023$205M

Jun 2023$128M

Sep 2023$188M

Dec 2023$129M

Mar 2024$174M

Jun 2024$173M

Sep 2024$216M

Dec 2024$165M

Mar 2025$189M

Jun 2025$145M

Sep 2025$175M

Dec 2025$144M

Mar 2026$105M

Jun 2026—

The Walt Disney Company · DIS

Sep 2021$938M

Dec 2021$1.1B

Mar 2022$981M

Jun 2022$1.1B

Sep 2022$1.7B

Dec 2022$1.1B

Mar 2023—

Jun 2023$1.2B

Sep 2023$1.2B

Dec 2023$1.3B

Mar 2024$1.3B

Jun 2024$1.4B

Sep 2024$1.5B

Dec 2024$2.5B

Mar 2025$1.9B

Jun 2025$1.8B

Sep 2025$1.9B

Dec 2025$3.0B

Mar 2026$2.0B

Jun 2026—

TKO Group Holdings, Inc. · TKO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022$3M

Mar 2023$5M

Jun 2023$5M

Sep 2023$3M

Dec 2023$36M

Mar 2024$37M

Jun 2024$27M

Sep 2024$27M

Dec 2024$28M

Mar 2025$27M

Jun 2025$21M

Sep 2025$18M

Dec 2025$60M

Mar 2026$20M

Jun 2026—

Warner Bros. Discovery, Inc. · WBD

Sep 2021$106M

Dec 2021$100M

Mar 2022$85M

Jun 2022$222M

Sep 2022$316M

Dec 2022$364M

Mar 2023$299M

Jun 2023$292M

Sep 2023$457M

Dec 2023$268M

Mar 2024$195M

Jun 2024$252M

Sep 2024$215M

Dec 2024$286M

Mar 2025$251M

Jun 2025$281M

Sep 2025$278M

Dec 2025$421M

Mar 2026$268M

Jun 2026—

Warner Music Group Corp. · WMG

Sep 2021$35M

Dec 2021$34M

Mar 2022—

Jun 2022$28M

Sep 2022$35M

Dec 2022$21M

Mar 2023$35M

Jun 2023$33M

Sep 2023$38M

Dec 2023$29M

Mar 2024$26M

Jun 2024$28M

Sep 2024$33M

Dec 2024$36M

Mar 2025$36M

Jun 2025$39M

Sep 2025$28M

Dec 2025$20M

Mar 2026$27M

Jun 2026—

CAPEX intensity · reported quarter history

Showing the 12 largest of 27 companies with a series here. The remaining 15 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Formula One Group · FWONK

Sep 202114%

Dec 202120%

Mar 202231%

Jun 202246%

Sep 202214%

Dec 202224%

Mar 202374%

Jun 202336%

Sep 202336%

Dec 20239.6%

Mar 20244.6%

Jun 20241.3%

Sep 20241.3%

Dec 20242.0%

Mar 20257.4%

Jun 20251.6%

Sep 20250.3%

Dec 2025—

Mar 2026—

Jun 2026—

Fox Corporation · FOXA

Sep 20211.7%

Dec 20211.5%

Mar 20222.0%

Jun 20223.8%

Sep 20222.3%

Dec 20221.7%

Mar 20232.1%

Jun 20234.0%

Sep 20232.2%

Dec 20231.9%

Mar 20242.4%

Jun 20243.6%

Sep 20241.8%

Dec 20241.5%

Mar 20251.7%

Jun 20253.6%

Sep 20252.8%

Dec 20252.4%

Mar 20263.4%

Jun 2026—

Live Nation Entertainment, Inc. · LYV

Sep 20211.7%

Dec 20211.8%

Mar 20223.5%

Jun 20221.5%

Sep 20221.2%

Dec 20223.3%

Mar 20233.7%

Jun 20231.5%

Sep 20231.3%

Dec 20232.3%

Mar 20243.5%

Jun 20243.3%

Sep 20242.1%

Dec 20242.7%

Mar 20255.1%

Jun 20253.8%

Sep 20253.2%

Dec 20255.6%

Mar 20268.1%

Jun 2026—

Madison Square Garden Sports Corp. · MSGS

Sep 20210.0%

Dec 20210.0%

Mar 20220.3%

Jun 20220.0%

Sep 20220.0%

Dec 20220.0%

Mar 20230.0%

Jun 20230.0%

Sep 20230.0%

Dec 20230.3%

Mar 20240.0%

Jun 20240.0%

Sep 20240.0%

Dec 20240.3%

Mar 20250.5%

Jun 20250.0%

Sep 20250.0%

Dec 20250.2%

Mar 20260.0%

Jun 2026—

Netflix, Inc. · NFLX

Sep 20212.2%

Dec 20212.2%

Mar 20221.5%

Jun 20221.1%

Sep 20221.1%

Dec 20221.4%

Mar 20230.8%

Jun 20231.2%

Sep 20231.2%

Dec 20230.9%

Mar 20240.8%

Jun 20240.8%

Sep 20241.3%

Dec 20241.6%

Mar 20251.2%

Jun 20251.4%

Sep 20251.4%

Dec 20252.0%

Mar 20261.6%

Jun 20261.7%

News Corporation · NWS

Sep 20214.0%

Dec 20213.9%

Mar 20224.3%

Jun 20226.9%

Sep 20224.2%

Dec 20224.5%

Mar 20235.4%

Jun 20236.1%

Sep 20233.2%

Dec 20233.4%

Mar 20244.6%

Jun 20245.3%

Sep 20243.6%

Dec 20243.7%

Mar 20254.6%

Jun 20257.4%

Sep 20253.8%

Dec 20254.2%

Mar 20264.6%

Jun 2026—

Roku, Inc. · ROKU

Sep 20212.1%

Dec 20211.4%

Mar 20222.0%

Jun 20224.8%

Sep 20225.8%

Dec 20227.5%

Mar 20237.3%

Jun 20232.1%

Sep 20230.8%

Dec 20230.4%

Mar 20240.1%

Jun 20240.1%

Sep 20240.1%

Dec 20240.2%

Mar 20250.2%

Jun 20250.1%

Sep 20250.1%

Dec 20250.1%

Mar 20260.2%

Jun 2026—

Sirius XM Holdings Inc. · SIRI

Sep 20213.6%

Dec 20216.3%

Mar 20224.4%

Jun 20224.4%

Sep 20223.6%

Dec 20226.4%

Mar 20239.6%

Jun 20235.7%

Sep 20238.3%

Dec 20235.6%

Mar 20248.0%

Jun 20247.9%

Sep 20249.9%

Dec 20247.5%

Mar 20259.1%

Jun 20256.8%

Sep 20258.1%

Dec 20256.6%

Mar 20265.0%

Jun 2026—

The Walt Disney Company · DIS

Sep 20215.5%

Dec 20216.0%

Mar 20224.5%

Jun 20225.6%

Sep 20228.1%

Dec 20225.7%

Mar 2023—

Jun 20235.7%

Sep 20235.2%

Dec 20235.5%

Mar 20245.7%

Jun 20245.9%

Sep 20246.6%

Dec 202410%

Mar 20257.9%

Jun 20257.5%

Sep 20258.5%

Dec 202512%

Mar 20267.8%

Jun 2026—

TKO Group Holdings, Inc. · TKO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 20221.1%

Mar 20231.6%

Jun 20231.6%

Sep 20230.7%

Dec 20235.9%

Mar 20243.0%

Jun 20242.3%

Sep 20241.8%

Dec 20243.0%

Mar 20252.1%

Jun 20251.6%

Sep 20251.6%

Dec 20255.8%

Mar 20261.3%

Jun 2026—

Warner Bros. Discovery, Inc. · WBD

Sep 20213.4%

Dec 20213.1%

Mar 20222.7%

Jun 20222.3%

Sep 20223.2%

Dec 20223.3%

Mar 20232.8%

Jun 20232.8%

Sep 20234.6%

Dec 20232.6%

Mar 20242.0%

Jun 20242.6%

Sep 20242.2%

Dec 20242.9%

Mar 20252.8%

Jun 20252.9%

Sep 20253.1%

Dec 20254.5%

Mar 20263.0%

Jun 2026—

Warner Music Group Corp. · WMG

Sep 20212.5%

Dec 20212.1%

Mar 2022—

Jun 20222.0%

Sep 20222.4%

Dec 20221.4%

Mar 20232.5%

Jun 20232.1%

Sep 20232.4%

Dec 20231.7%

Mar 20241.7%

Jun 20241.8%

Sep 20242.0%

Dec 20242.2%

Mar 20252.4%

Jun 20252.3%

Sep 20251.5%

Dec 20251.1%

Mar 20261.6%

Jun 2026—

Annual capital allocation · 6-year view

25/27 capacity base · 27/27 OCF · 27/27 CAPEX · 27/27 FCF

Capacity base is net fixed assets plus capital work in progress, straight off the reported balance sheet. It is not cash spent, so it answers a narrower question than CAPEX — but it is reported for companies whose cash-flow CAPEX is not published, which is why it leads here. Missing years remain blank; annual values are never relabelled as quarters.

Full annual capacity base, operating cash flow, CAPEX and free cash flow history

Capacity base · net fixed assets + CWIP · fiscal-year history

Showing the 12 largest of 25 companies with a series here. The remaining 13 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Formula One Group · FWONK

Jun 2021$124M

Dec 2021$2.0B

Dec 2022$2.3B

Dec 2023$838M

Dec 2024$810M

Dec 2025$868M

Fox Corporation · FOXA

Jun 2021$1.7B

Dec 2021$1.7B

Dec 2022$1.7B

Dec 2023$1.7B

Dec 2024$1.7B

Dec 2025—

Live Nation Entertainment, Inc. · LYV

Jun 2021—

Dec 2021$2.6B

Dec 2022$3.1B

Dec 2023$3.7B

Dec 2024$4.1B

Dec 2025$5.3B

Madison Square Garden Sports Corp. · MSGS

Jun 2021$739M

Dec 2021$720M

Dec 2022$746M

Dec 2023$723M

Dec 2024$789M

Dec 2025—

Netflix, Inc. · NFLX

Jun 2021—

Dec 2021$1.3B

Dec 2022$1.4B

Dec 2023$1.5B

Dec 2024$1.6B

Dec 2025$2.0B

News Corporation · NWS

Jun 2021$3.3B

Dec 2021$3.0B

Dec 2022$3.1B

Dec 2023$2.1B

Dec 2024$2.1B

Dec 2025—

Roku, Inc. · ROKU

Jun 2021—

Dec 2021$523M

Dec 2022$857M

Dec 2023$636M

Dec 2024$518M

Dec 2025$434M

Sirius XM Holdings Inc. · SIRI

Jun 2021—

Dec 2021$1.8B

Dec 2022$1.8B

Dec 2023$1.8B

Dec 2024$2.1B

Dec 2025$2.3B

The Walt Disney Company · DIS

Jun 2021—

Dec 2021$32.6B

Dec 2022$33.6B

Dec 2023$34.9B

Dec 2024$37.0B

Dec 2025$41.3B

TKO Group Holdings, Inc. · TKO

Jun 2021—

Dec 2021—

Dec 2022$198M

Dec 2023$900M

Dec 2024$943M

Dec 2025$927M

Warner Bros. Discovery, Inc. · WBD

Jun 2021—

Dec 2021$1.3B

Dec 2022$5.3B

Dec 2023$6.0B

Dec 2024$6.1B

Dec 2025$6.7B

Warner Music Group Corp. · WMG

Jun 2021—

Dec 2021$632M

Dec 2022$641M

Dec 2023$484M

Dec 2024$693M

Dec 2025$630M

Operating cash flow · fiscal-year history

Showing the 12 largest of 27 companies with a series here. The remaining 15 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Formula One Group · FWONK

Jun 2021$-139M

Dec 2021$2.4B

Dec 2022$578M

Dec 2023$651M

Dec 2024$567M

Dec 2025$908M

Fox Corporation · FOXA

Jun 2021$2.6B

Dec 2021$1.9B

Dec 2022$1.8B

Dec 2023$1.8B

Dec 2024$3.3B

Dec 2025—

Live Nation Entertainment, Inc. · LYV

Jun 2021—

Dec 2021$1.8B

Dec 2022$1.8B

Dec 2023$1.4B

Dec 2024$1.7B

Dec 2025$1.4B

Madison Square Garden Sports Corp. · MSGS

Jun 2021$-35M

Dec 2021$178M

Dec 2022$152M

Dec 2023$92M

Dec 2024$92M

Dec 2025—

Netflix, Inc. · NFLX

Jun 2021—

Dec 2021$393M

Dec 2022$2.0B

Dec 2023$7.3B

Dec 2024$7.4B

Dec 2025$10.1B

News Corporation · NWS

Jun 2021$1.2B

Dec 2021$1.4B

Dec 2022$1.1B

Dec 2023$1.1B

Dec 2024$442M

Dec 2025—

Roku, Inc. · ROKU

Jun 2021—

Dec 2021$228M

Dec 2022$12M

Dec 2023$256M

Dec 2024$218M

Dec 2025$484M

Sirius XM Holdings Inc. · SIRI

Jun 2021—

Dec 2021$2.0B

Dec 2022$2.0B

Dec 2023$1.8B

Dec 2024$1.7B

Dec 2025$1.9B

The Walt Disney Company · DIS

Jun 2021—

Dec 2021$5.6B

Dec 2022$6.0B

Dec 2023$9.9B

Dec 2024$14.0B

Dec 2025$18.1B

TKO Group Holdings, Inc. · TKO

Jun 2021—

Dec 2021$441M

Dec 2022$502M

Dec 2023$266M

Dec 2024$586M

Dec 2025$1.3B

Warner Bros. Discovery, Inc. · WBD

Jun 2021—

Dec 2021$2.8B

Dec 2022$4.3B

Dec 2023$7.5B

Dec 2024$5.4B

Dec 2025$4.3B

Warner Music Group Corp. · WMG

Jun 2021—

Dec 2021$638M

Dec 2022$742M

Dec 2023$687M

Dec 2024$754M

Dec 2025$678M

CAPEX · reported cash flow · fiscal-year history

Showing the 12 largest of 27 companies with a series here. The remaining 15 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Formula One Group · FWONK

Jun 2021$21M

Dec 2021$440M

Dec 2022$309M

Dec 2023$461M

Dec 2024$75M

Dec 2025$119M

Fox Corporation · FOXA

Jun 2021$484M

Dec 2021$307M

Dec 2022$357M

Dec 2023$345M

Dec 2024$331M

Dec 2025—

Live Nation Entertainment, Inc. · LYV

Jun 2021—

Dec 2021$153M

Dec 2022$347M

Dec 2023$439M

Dec 2024$647M

Dec 2025$1.1B

Madison Square Garden Sports Corp. · MSGS

Jun 2021$0M

Dec 2021$1M

Dec 2022$1M

Dec 2023$1M

Dec 2024$4M

Dec 2025—

Netflix, Inc. · NFLX

Jun 2021—

Dec 2021$525M

Dec 2022$408M

Dec 2023$349M

Dec 2024$440M

Dec 2025$688M

News Corporation · NWS

Jun 2021$390M

Dec 2021$499M

Dec 2022$347M

Dec 2023$357M

Dec 2024$407M

Dec 2025—

Roku, Inc. · ROKU

Jun 2021—

Dec 2021$40M

Dec 2022$162M

Dec 2023$83M

Dec 2024$5M

Dec 2025$5M

Sirius XM Holdings Inc. · SIRI

Jun 2021—

Dec 2021$388M

Dec 2022$426M

Dec 2023$650M

Dec 2024$728M

Dec 2025$653M

The Walt Disney Company · DIS

Jun 2021—

Dec 2021$3.6B

Dec 2022$4.9B

Dec 2023$5.0B

Dec 2024$5.4B

Dec 2025$8.0B

TKO Group Holdings, Inc. · TKO

Jun 2021—

Dec 2021$11M

Dec 2022$12M

Dec 2023$94M

Dec 2024$119M

Dec 2025$127M

Warner Bros. Discovery, Inc. · WBD

Jun 2021—

Dec 2021$373M

Dec 2022$987M

Dec 2023$1.3B

Dec 2024$948M

Dec 2025$1.2B

Warner Music Group Corp. · WMG

Jun 2021—

Dec 2021$93M

Dec 2022$135M

Dec 2023$127M

Dec 2024$116M

Dec 2025$139M

Free cash flow · fiscal-year history

Showing the 12 largest of 27 companies with a series here. The remaining 15 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Formula One Group · FWONK

Jun 2021$-160M

Dec 2021$2.0B

Dec 2022$269M

Dec 2023$190M

Dec 2024$492M

Dec 2025$789M

Fox Corporation · FOXA

Jun 2021$2.2B

Dec 2021$1.6B

Dec 2022$1.4B

Dec 2023$1.5B

Dec 2024$3.0B

Dec 2025—

Live Nation Entertainment, Inc. · LYV

Jun 2021—

Dec 2021$1.6B

Dec 2022$1.5B

Dec 2023$924M

Dec 2024$1.1B

Dec 2025$334M

Madison Square Garden Sports Corp. · MSGS

Jun 2021$-36M

Dec 2021$177M

Dec 2022$151M

Dec 2023$91M

Dec 2024$88M

Dec 2025—

Netflix, Inc. · NFLX

Jun 2021—

Dec 2021$-132M

Dec 2022$1.6B

Dec 2023$6.9B

Dec 2024$6.9B

Dec 2025$9.5B

News Corporation · NWS

Jun 2021$847M

Dec 2021$855M

Dec 2022$785M

Dec 2023$766M

Dec 2024$35M

Dec 2025—

Roku, Inc. · ROKU

Jun 2021—

Dec 2021$188M

Dec 2022$-150M

Dec 2023$173M

Dec 2024$213M

Dec 2025$478M

Sirius XM Holdings Inc. · SIRI

Jun 2021—

Dec 2021$1.6B

Dec 2022$1.6B

Dec 2023$1.2B

Dec 2024$1.0B

Dec 2025$1.2B

The Walt Disney Company · DIS

Jun 2021—

Dec 2021$2.0B

Dec 2022$1.1B

Dec 2023$4.9B

Dec 2024$8.6B

Dec 2025$10.1B

TKO Group Holdings, Inc. · TKO

Jun 2021—

Dec 2021$430M

Dec 2022$489M

Dec 2023$172M

Dec 2024$467M

Dec 2025$1.2B

Warner Bros. Discovery, Inc. · WBD

Jun 2021—

Dec 2021$2.4B

Dec 2022$3.3B

Dec 2023$6.2B

Dec 2024$4.4B

Dec 2025$3.1B

Warner Music Group Corp. · WMG

Jun 2021—

Dec 2021$545M

Dec 2022$607M

Dec 2023$560M

Dec 2024$638M

Dec 2025$539M

05 · compare level, then change

Debt Load & Balance-Sheet Headroom

Starz Entertainment Corp. has the lowest Gross debt among the 27 Entertainment companies compared here, at $0 million. Angel Studios, Inc. is next at $105 million. Roku, Inc. has the lowest Net debt at $1,967 million net cash, so level and change sit with different companies. 26 of 27 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Roku, Inc. has the clearest covered balance-sheet capacity with $1,967 million net cash and gross debt of $413 million. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.

LeaderStarz Entertainment Corp. · $0 million

Gap100% versus #2 · Angel Studios, Inc.

Persistence7/8 recent comparable periods

Coverage26/27 companies · 462 observations

Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.

This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.

Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.

Gross debtlowest gross debt

1Starz Entertainment Corp. STRZ$0M

2Angel Studios, Inc. ANGX$105M

3IMAX Corporation IMAX$283M

4The Marcus Corporation MCS$350M

5Roku, Inc. ROKU$413M

Net debtlowest net debt

1Roku, Inc. ROKU$-2.0B

2Starz Entertainment Corp. STRZ$-102M

3Angel Studios, Inc. ANGX$66M

4IMAX Corporation IMAX$123M

5Sphere Entertainment Co. SPHR$308M

Debt and balance-sheet capacity · company comparison

26/27 level · 26/27 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Gross debt	Net debt	Reported
The Walt Disney Company DIS	$47.4B	$41.7B	Mar 2026
Warner Bros. Discovery, Inc. WBD	$32.5B	$29.2B	Mar 2026
Paramount Skydance Corporation PSKY	$16.6B	$14.7B	Mar 2026
Netflix, Inc. NFLX	$14.3B	$5.2B	Jun 2026
Live Nation Entertainment, Inc. LYV	$10.6B	$1.5B	Mar 2026
Sirius XM Holdings Inc. SIRI	$9.7B	$9.7B	Mar 2026
AMC Entertainment Holdings, Inc. AMC	$7.7B	$6.9B	Jun 2026
Fox Corporation FOXA	$6.6B	$3.0B	Mar 2026
Formula One Group FWONK	$5.0B	$3.7B	Mar 2026
TKO Group Holdings, Inc. TKO	$5.0B	$4.2B	Mar 2026
Warner Music Group Corp. WMG	$4.9B	$4.2B	Mar 2026
Cinemark Holdings, Inc. CNK	$3.0B	$2.7B	Mar 2026
Versant Media Group, Inc. VSNT	$3.0B	$1.8B	Mar 2026
News Corporation NWS	$2.8B	$671M	Mar 2026
Lionsgate Studios Corp. LION	$1.9B	$1.6B	Mar 2026
AMC Global Media Inc. AMCX	$1.8B	$1.3B	Mar 2026
Madison Square Garden Sports Corp. MSGS	$1.2B	$1.1B	Mar 2026
Sphere Entertainment Co. SPHR	$938M	$308M	Mar 2026
Atlanta Braves Holdings, Inc. BATRK	$868M	$786M	Sep 2025
Manchester United plc MANU	$756M	$695M	Mar 2026
Reservoir Media, Inc. RSVR	$463M	$437M	Mar 2026
Roku, Inc. ROKU	$413M	$-2.0B	Mar 2026
The Marcus Corporation MCS	$350M	$339M	Mar 2026
IMAX Corporation IMAX	$283M	$123M	Jun 2026
Angel Studios, Inc. ANGX	$105M	$66M	Mar 2026
Starz Entertainment Corp. STRZ	$0M	$-102M	Mar 2026

Full 20-quarter history · every available company

Gross debt · reported quarter history

Showing the 12 largest of 26 companies with a series here. The remaining 14 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Formula One Group · FWONK

Sep 2021$18.1B

Dec 2021$18.6B

Mar 2022$19.1B

Jun 2022$17.9B

Sep 2022$17.6B

Dec 2022$16.6B

Mar 2023$16.4B

Jun 2023$16.2B

Sep 2023$15.7B

Dec 2023$4.2B

Mar 2024$15.4B

Jun 2024$15.0B

Sep 2024$4.4B

Dec 2024$3.0B

Mar 2025$4.6B

Jun 2025$4.8B

Sep 2025$7.0B

Dec 2025$5.1B

Mar 2026$5.0B

Jun 2026—

Fox Corporation · FOXA

Sep 2021$8.0B

Dec 2021$8.0B

Mar 2022$7.2B

Jun 2022$7.2B

Sep 2022$7.2B

Dec 2022$7.2B

Mar 2023$7.2B

Jun 2023$7.2B

Sep 2023$7.2B

Dec 2023$8.4B

Mar 2024$7.2B

Jun 2024$7.2B

Sep 2024$7.2B

Dec 2024$7.2B

Mar 2025$7.2B

Jun 2025$6.6B

Sep 2025$6.6B

Dec 2025$6.6B

Mar 2026$6.6B

Jun 2026—

Live Nation Entertainment, Inc. · LYV

Sep 2021$7.3B

Dec 2021$7.5B

Mar 2022$7.6B

Jun 2022$7.6B

Sep 2022$7.6B

Dec 2022$7.7B

Mar 2023$8.4B

Jun 2023$8.4B

Sep 2023$8.4B

Dec 2023$8.4B

Mar 2024$8.0B

Jun 2024$8.0B

Sep 2024$8.2B

Dec 2024$8.1B

Mar 2025$8.3B

Jun 2025$8.4B

Sep 2025$9.4B

Dec 2025$10.2B

Mar 2026$10.6B

Jun 2026—

Madison Square Garden Sports Corp. · MSGS

Sep 2021$1.1B

Dec 2021$1.1B

Mar 2022$1.1B

Jun 2022$993M

Sep 2022$983M

Dec 2022$1.2B

Mar 2023$1.1B

Jun 2023$1.1B

Sep 2023$1.2B

Dec 2023$1.2B

Mar 2024$1.2B

Jun 2024$1.1B

Sep 2024$1.1B

Dec 2024$1.1B

Mar 2025$1.2B

Jun 2025$1.2B

Sep 2025$1.2B

Dec 2025$1.2B

Mar 2026$1.2B

Jun 2026—

Netflix, Inc. · NFLX

Sep 2021$15.5B

Dec 2021$15.4B

Mar 2022$14.5B

Jun 2022$14.2B

Sep 2022$13.9B

Dec 2022$14.4B

Mar 2023$14.4B

Jun 2023$14.5B

Sep 2023$14.3B

Dec 2023$14.5B

Mar 2024$14.0B

Jun 2024$14.0B

Sep 2024$16.0B

Dec 2024$15.6B

Mar 2025$15.0B

Jun 2025$14.5B

Sep 2025$14.5B

Dec 2025$14.5B

Mar 2026$14.4B

Jun 2026$14.3B

News Corporation · NWS

Sep 2021$3.3B

Dec 2021$3.3B

Mar 2022$3.8B

Jun 2022$4.0B

Sep 2022$3.9B

Dec 2022$4.1B

Mar 2023$4.1B

Jun 2023$4.1B

Sep 2023$4.1B

Dec 2023$4.1B

Mar 2024$4.0B

Jun 2024$3.0B

Sep 2024$3.9B

Dec 2024$2.8B

Mar 2025$2.8B

Jun 2025$2.9B

Sep 2025$2.9B

Dec 2025$2.8B

Mar 2026$2.8B

Jun 2026—

Roku, Inc. · ROKU

Sep 2021$486M

Dec 2021$485M

Mar 2022$533M

Jun 2022$673M

Sep 2022$677M

Dec 2022$665M

Mar 2023$586M

Jun 2023$589M

Sep 2023$600M

Dec 2023$586M

Mar 2024$569M

Jun 2024$553M

Sep 2024$535M

Dec 2024$513M

Mar 2025$496M

Jun 2025$482M

Sep 2025$457M

Dec 2025$436M

Mar 2026$413M

Jun 2026—

Sirius XM Holdings Inc. · SIRI

Sep 2021$9.2B

Dec 2021$9.2B

Mar 2022$10.2B

Jun 2022$10.2B

Sep 2022$10.2B

Dec 2022$9.8B

Mar 2023$9.9B

Jun 2023$9.8B

Sep 2023$9.7B

Dec 2023$11.2B

Mar 2024$9.6B

Jun 2024$9.4B

Sep 2024$10.7B

Dec 2024$10.4B

Mar 2025$10.5B

Jun 2025$10.2B

Sep 2025$10.1B

Dec 2025$9.7B

Mar 2026$9.7B

Jun 2026—

The Walt Disney Company · DIS

Sep 2021$55.8B

Dec 2021$54.4B

Mar 2022$54.1B

Jun 2022$52.0B

Sep 2022$51.6B

Dec 2022$48.4B

Mar 2023—

Jun 2023$48.5B

Sep 2023$47.2B

Dec 2023$47.7B

Mar 2024$46.3B

Jun 2024$47.6B

Sep 2024$45.8B

Dec 2024$45.3B

Mar 2025$42.9B

Jun 2025$42.3B

Sep 2025$42.0B

Dec 2025$46.6B

Mar 2026$47.4B

Jun 2026—

TKO Group Holdings, Inc. · TKO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022$2.8B

Dec 2022$2.8B

Mar 2023$3.6B

Jun 2023$3.6B

Sep 2023$3.0B

Dec 2023$3.0B

Mar 2024$3.0B

Jun 2024$3.0B

Sep 2024$3.0B

Dec 2024$3.1B

Mar 2025$3.1B

Jun 2025$3.1B

Sep 2025$4.0B

Dec 2025$4.1B

Mar 2026$5.0B

Jun 2026—

Warner Bros. Discovery, Inc. · WBD

Sep 2021$14.8B

Dec 2021$14.8B

Mar 2022$14.4B

Jun 2022$52.5B

Sep 2022$49.9B

Dec 2022$49.0B

Mar 2023$48.9B

Jun 2023$47.3B

Sep 2023$44.8B

Dec 2023$43.7B

Mar 2024$42.6B

Jun 2024$41.0B

Sep 2024$40.2B

Dec 2024$39.5B

Mar 2025$37.4B

Jun 2025$34.6B

Sep 2025$33.5B

Dec 2025$32.6B

Mar 2026$32.5B

Jun 2026—

Warner Music Group Corp. · WMG

Sep 2021$6.5B

Dec 2021$4.2B

Mar 2022—

Jun 2022$4.1B

Sep 2022$4.1B

Dec 2022$4.2B

Mar 2023$4.3B

Jun 2023$4.3B

Sep 2023$4.3B

Dec 2023$4.3B

Mar 2024$4.3B

Jun 2024$4.3B

Sep 2024$3.8B

Dec 2024$4.2B

Mar 2025$4.6B

Jun 2025$4.6B

Sep 2025$4.3B

Dec 2025$4.6B

Mar 2026$4.9B

Jun 2026—

Net debt · reported quarter history

Showing the 12 largest of 26 companies with a series here. The remaining 14 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Formula One Group · FWONK

Sep 2021$15.2B

Dec 2021$15.8B

Mar 2022$15.8B

Jun 2022$15.2B

Sep 2022$15.0B

Dec 2022$14.4B

Mar 2023$14.2B

Jun 2023$14.3B

Sep 2023$13.6B

Dec 2023$2.5B

Mar 2024$13.8B

Jun 2024$12.9B

Sep 2024$1.3B

Dec 2024$361M

Mar 2025$1.4B

Jun 2025$1.4B

Sep 2025$5.4B

Dec 2025$4.0B

Mar 2026$3.7B

Jun 2026—

Fox Corporation · FOXA

Sep 2021$2.5B

Dec 2021$3.7B

Mar 2022$2.6B

Jun 2022$2.0B

Sep 2022$2.3B

Dec 2022$3.2B

Mar 2023$3.1B

Jun 2023$2.9B

Sep 2023$3.4B

Dec 2023$4.3B

Mar 2024$3.4B

Jun 2024$2.9B

Sep 2024$3.1B

Dec 2024$3.9B

Mar 2025$2.4B

Jun 2025$1.3B

Sep 2025$2.2B

Dec 2025$4.6B

Mar 2026$3.0B

Jun 2026—

Live Nation Entertainment, Inc. · LYV

Sep 2021$2.7B

Dec 2021$2.6B

Mar 2022$1.7B

Jun 2022$1.7B

Sep 2022$2.6B

Dec 2022$2.1B

Mar 2023$1.4B

Jun 2023$1.3B

Sep 2023$2.5B

Dec 2023$2.2B

Mar 2024$1.5B

Jun 2024$1.6B

Sep 2024$2.7B

Dec 2024$2.0B

Mar 2025$1.1B

Jun 2025$1.4B

Sep 2025$2.6B

Dec 2025$3.1B

Mar 2026$1.5B

Jun 2026—

Madison Square Garden Sports Corp. · MSGS

Sep 2021$1.1B

Dec 2021$1.0B

Mar 2022$1.0B

Jun 2022$902M

Sep 2022$902M

Dec 2022$1.1B

Mar 2023$1.1B

Jun 2023$1.1B

Sep 2023$1.1B

Dec 2023$1.1B

Mar 2024$1.1B

Jun 2024$1.0B

Sep 2024$1.0B

Dec 2024$994M

Mar 2025$1.1B

Jun 2025$1.0B

Sep 2025$1.1B

Dec 2025$1.1B

Mar 2026$1.1B

Jun 2026—

Netflix, Inc. · NFLX

Sep 2021$8.0B

Dec 2021$9.4B

Mar 2022$8.5B

Jun 2022$8.4B

Sep 2022$7.8B

Dec 2022$8.3B

Mar 2023$6.6B

Jun 2023$5.9B

Sep 2023$6.4B

Dec 2023$7.4B

Mar 2024$7.0B

Jun 2024$7.3B

Sep 2024$6.8B

Dec 2024$6.0B

Mar 2025$6.6B

Jun 2025$6.1B

Sep 2025$5.1B

Dec 2025$5.4B

Mar 2026$2.1B

Jun 2026$5.2B

News Corporation · NWS

Sep 2021$1.2B

Dec 2021$1.1B

Mar 2022$2.0B

Jun 2022$2.2B

Sep 2022$2.4B

Dec 2022$2.8B

Mar 2023$2.4B

Jun 2023$2.3B

Sep 2023$2.5B

Dec 2023$2.4B

Mar 2024$2.0B

Jun 2024$1.1B

Sep 2024$2.2B

Dec 2024$1.1B

Mar 2025$749M

Jun 2025$463M

Sep 2025$658M

Dec 2025$797M

Mar 2026$671M

Jun 2026—

Roku, Inc. · ROKU

Sep 2021$-1.7B

Dec 2021$-1.7B

Mar 2022$-1.7B

Jun 2022$-1.4B

Sep 2022$-1.3B

Dec 2022$-1.3B

Mar 2023$-1.1B

Jun 2023$-1.2B

Sep 2023$-1.4B

Dec 2023$-1.4B

Mar 2024$-1.5B

Jun 2024$-1.5B

Sep 2024$-1.6B

Dec 2024$-1.6B

Mar 2025$-1.8B

Jun 2025$-1.8B

Sep 2025$-1.8B

Dec 2025$-1.9B

Mar 2026$-2.0B

Jun 2026—

Sirius XM Holdings Inc. · SIRI

Sep 2021$9.1B

Dec 2021$9.1B

Mar 2022$10.2B

Jun 2022$10.1B

Sep 2022$10.1B

Dec 2022$9.8B

Mar 2023$9.8B

Jun 2023$9.7B

Sep 2023$9.6B

Dec 2023$10.8B

Mar 2024$9.5B

Jun 2024$9.3B

Sep 2024$10.6B

Dec 2024$10.2B

Mar 2025$10.3B

Jun 2025$10.1B

Sep 2025$10.0B

Dec 2025$9.6B

Mar 2026$9.7B

Jun 2026—

The Walt Disney Company · DIS

Sep 2021$39.8B

Dec 2021$38.4B

Mar 2022$39.7B

Jun 2022$38.8B

Sep 2022$38.6B

Dec 2022$36.8B

Mar 2023—

Jun 2023$38.1B

Sep 2023$35.7B

Dec 2023$40.5B

Mar 2024$39.7B

Jun 2024$41.6B

Sep 2024$39.8B

Dec 2024$39.8B

Mar 2025$37.0B

Jun 2025$36.9B

Sep 2025$36.3B

Dec 2025$41.0B

Mar 2026$41.7B

Jun 2026—

TKO Group Holdings, Inc. · TKO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022$2.6B

Dec 2022$2.6B

Mar 2023$2.7B

Jun 2023$2.7B

Sep 2023$2.8B

Dec 2023$2.8B

Mar 2024$2.8B

Jun 2024$2.7B

Sep 2024$2.5B

Dec 2024$2.5B

Mar 2025$2.6B

Jun 2025$2.5B

Sep 2025$3.2B

Dec 2025$3.2B

Mar 2026$4.2B

Jun 2026—

Warner Bros. Discovery, Inc. · WBD

Sep 2021$11.7B

Dec 2021$10.9B

Mar 2022$10.2B

Jun 2022$49.9B

Sep 2022$47.4B

Dec 2022$45.3B

Mar 2023$46.3B

Jun 2023$44.3B

Sep 2023$42.4B

Dec 2023$39.9B

Mar 2024$39.6B

Jun 2024$37.3B

Sep 2024$36.9B

Dec 2024$34.2B

Mar 2025$33.6B

Jun 2025$29.7B

Sep 2025$29.2B

Dec 2025$28.0B

Mar 2026$29.2B

Jun 2026—

Warner Music Group Corp. · WMG

Sep 2021$6.0B

Dec 2021$3.7B

Mar 2022—

Jun 2022$3.8B

Sep 2022$3.7B

Dec 2022$3.5B

Mar 2023$3.7B

Jun 2023$3.7B

Sep 2023$3.6B

Dec 2023$3.5B

Mar 2024$3.7B

Jun 2024$3.6B

Sep 2024$3.1B

Dec 2024$3.4B

Mar 2025$3.9B

Jun 2025$4.1B

Sep 2025$3.8B

Dec 2025$3.9B

Mar 2026$4.2B

Jun 2026—

06 · compare level, then change

Return On Capital Employed

Netflix, Inc. has the highest ROCE among the 27 Entertainment companies compared here, at 9.3%. Warner Music Group Corp. is next at 4.5%. Starz Entertainment Corp. has the highest ROCE change at +413.2 percentage points, so level and change sit with different companies. 27 of 27 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Netflix, Inc. leads ROCE at 9.3%, 4.8 percentage points above Warner Music Group Corp.. Starz Entertainment Corp. has the strongest latest improvement at +413.2 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

LeaderNetflix, Inc. · 9.3%

Gap106.7% versus #2 · Warner Music Group Corp.

Persistence8/8 recent comparable periods

Coverage27/27 companies · 476 observations

Investor read: Netflix, Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

ROCEhighest

1Netflix, Inc. NFLX9.3%

2Warner Music Group Corp. WMG4.5%

3Fox Corporation FOXA4.2%

4Lionsgate Studios Corp. LION4.2%

5Versant Media Group, Inc. VSNT3.9%

ROCE changefastest improvers

1Starz Entertainment Corp. STRZ+413.2 pp

2Angel Studios, Inc. ANGX+110.5 pp

3Sphere Entertainment Co. SPHR+9.8 pp

4Atlanta Braves Holdings, Inc. BATRK · older report+5.5 pp

5Roku, Inc. ROKU+3.6 pp

Return on capital · company comparison

27/27 level · 27/27 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	ROCE	ROCE change	Reported
Netflix, Inc. NFLX	9.3%	+0.2 pp	Jun 2026
Warner Music Group Corp. WMG	4.5%	+1.4 pp	Mar 2026
Fox Corporation FOXA	4.2%	+0.6 pp	Mar 2026
Lionsgate Studios Corp. LION	4.2%	−4.9 pp	Mar 2026
Versant Media Group, Inc. VSNT	3.9%	−5.2 pp	Mar 2026
Madison Square Garden Entertainment Corp. MSGE	3.8%	−5.9 pp	Mar 2026
AMC Entertainment Holdings, Inc. AMC	3.8%	+2.4 pp	Jun 2026
IMAX Corporation IMAX	3.1%	+0.8 pp	Jun 2026
TKO Group Holdings, Inc. TKO	2.5%	+0.7 pp	Mar 2026
The Walt Disney Company DIS	2.1%	0.0 pp	Mar 2026
Sirius XM Holdings Inc. SIRI	1.8%	−0.5 pp	Mar 2026
Paramount Skydance Corporation PSKY	1.8%	+0.4 pp	Mar 2026
Roku, Inc. ROKU	1.7%	+3.6 pp	Mar 2026
News Corporation NWS	1.6%	+0.3 pp	Mar 2026
Atlanta Braves Holdings, Inc. BATRK	1.4%	+5.5 pp	Sep 2025
Reservoir Media, Inc. RSVR	1.4%	0.0 pp	Mar 2026
AMC Global Media Inc. AMCX	0.9%	−0.8 pp	Mar 2026
Cinemark Holdings, Inc. CNK	0.7%	+1.2 pp	Mar 2026
Manchester United plc MANU	0.6%	+0.5 pp	Mar 2026
Formula One Group FWONK	0.5%	+0.8 pp	Mar 2026
Sphere Entertainment Co. SPHR	0.3%	+9.8 pp	Mar 2026
Madison Square Garden Sports Corp. MSGS	0.2%	−3.5 pp	Mar 2026
The Marcus Corporation MCS	-2.2%	+0.1 pp	Mar 2026
Warner Bros. Discovery, Inc. WBD	-2.9%	−2.9 pp	Mar 2026
Live Nation Entertainment, Inc. LYV	-3.5%	−4.7 pp	Mar 2026
Angel Studios, Inc. ANGX	-15%	+110.5 pp	Mar 2026
Starz Entertainment Corp. STRZ	-255%	+413.2 pp	Mar 2026

Full 20-quarter history · every available company

ROCE · reported quarter history

Showing the 12 largest of 27 companies with a series here. The remaining 15 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Formula One Group · FWONK

Sep 20211.8%

Dec 20211.3%

Mar 20221.2%

Jun 20221.4%

Sep 20221.3%

Dec 20221.4%

Mar 20230.9%

Jun 20231.4%

Sep 20230.3%

Dec 20230.3%

Mar 20240.2%

Jun 20240.2%

Sep 20240.4%

Dec 20240.1%

Mar 2025-0.3%

Jun 20251.1%

Sep 20251.1%

Dec 20251.7%

Mar 20260.5%

Jun 2026—

Fox Corporation · FOXA

Sep 20214.8%

Dec 20211.1%

Mar 20223.6%

Jun 20223.4%

Sep 20224.9%

Dec 20222.1%

Mar 2023-0.9%

Jun 20232.4%

Sep 20234.1%

Dec 20231.2%

Mar 20244.1%

Jun 20243.4%

Sep 20244.9%

Dec 20242.6%

Mar 20253.6%

Jun 20253.7%

Sep 20254.9%

Dec 20253.0%

Mar 20264.2%

Jun 2026—

Live Nation Entertainment, Inc. · LYV

Sep 20211.8%

Dec 2021-1.7%

Mar 20220.4%

Jun 20224.3%

Sep 20226.4%

Dec 2022-1.7%

Mar 20231.7%

Jun 20234.4%

Sep 20237.1%

Dec 2023-0.9%

Mar 2024-0.5%

Jun 20245.0%

Sep 20246.3%

Dec 2024-2.5%

Mar 20251.2%

Jun 20255.3%

Sep 20257.7%

Dec 2025-1.3%

Mar 2026-3.5%

Jun 2026—

Madison Square Garden Sports Corp. · MSGS

Sep 2021-3.9%

Dec 20213.9%

Mar 20226.6%

Jun 20222.6%

Sep 2022-4.2%

Dec 20226.0%

Mar 20239.3%

Jun 2023-1.5%

Sep 2023-1.8%

Dec 20233.5%

Mar 20249.3%

Jun 20246.5%

Sep 2024-1.0%

Dec 20241.6%

Mar 20253.7%

Jun 2025-2.6%

Sep 2025-3.3%

Dec 20252.6%

Mar 20260.2%

Jun 2026—

Netflix, Inc. · NFLX

Sep 20215.4%

Dec 20211.9%

Mar 20225.7%

Jun 20224.4%

Sep 20224.1%

Dec 20221.4%

Mar 20234.4%

Jun 20234.5%

Sep 20234.7%

Dec 20233.7%

Mar 20246.5%

Jun 20246.4%

Sep 20247.0%

Dec 20245.5%

Mar 20258.2%

Jun 20259.1%

Sep 20257.5%

Dec 20256.8%

Mar 20268.7%

Jun 20269.3%

News Corporation · NWS

Sep 20211.8%

Dec 20213.1%

Mar 20221.1%

Jun 20220.8%

Sep 20221.1%

Dec 20221.6%

Mar 20230.8%

Jun 20230.6%

Sep 20231.2%

Dec 20232.0%

Mar 20240.8%

Jun 20241.0%

Sep 20241.4%

Dec 20242.7%

Mar 20251.3%

Jun 20250.9%

Sep 20251.5%

Dec 20252.9%

Mar 20261.6%

Jun 2026—

Roku, Inc. · ROKU

Sep 20212.8%

Dec 20210.8%

Mar 2022-0.8%

Jun 2022-3.4%

Sep 2022-4.4%

Dec 2022-7.5%

Mar 2023-6.4%

Jun 2023-3.8%

Sep 2023-11%

Dec 2023-3.3%

Mar 2024-2.3%

Jun 2024-2.3%

Sep 2024-1.2%

Dec 2024-1.3%

Mar 2025-1.9%

Jun 2025-0.8%

Sep 20250.3%

Dec 20252.1%

Mar 20261.7%

Jun 2026—

Sirius XM Holdings Inc. · SIRI

Sep 20218.4%

Dec 20216.6%

Mar 20227.0%

Jun 20226.8%

Sep 20226.4%

Dec 20227.8%

Mar 20235.7%

Jun 20236.7%

Sep 20237.4%

Dec 20232.7%

Mar 20245.3%

Jun 20246.1%

Sep 2024-19%

Dec 20242.0%

Mar 20252.3%

Jun 20252.2%

Sep 20252.0%

Dec 20250.9%

Mar 20261.8%

Jun 2026—

The Walt Disney Company · DIS

Sep 2021—

Dec 20210.3%

Mar 20221.3%

Jun 20220.8%

Sep 20221.4%

Dec 20220.3%

Mar 2023—

Jun 20231.2%

Sep 20230.0%

Dec 20231.7%

Mar 20240.5%

Jun 20242.0%

Sep 20240.7%

Dec 20242.4%

Mar 20252.1%

Jun 20252.1%

Sep 20251.4%

Dec 20252.4%

Mar 20262.1%

Jun 2026—

TKO Group Holdings, Inc. · TKO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 202210%

Dec 20227.2%

Mar 2023-2.1%

Jun 20232.1%

Sep 20231.2%

Dec 20230.8%

Mar 2024-1.3%

Jun 20240.9%

Sep 20240.3%

Dec 20240.4%

Mar 20251.8%

Jun 20252.9%

Sep 20251.3%

Dec 20250.4%

Mar 20262.5%

Jun 2026—

Warner Bros. Discovery, Inc. · WBD

Sep 20211.1%

Dec 20211.6%

Mar 20221.2%

Jun 2022-4.6%

Sep 2022-2.9%

Dec 2022-2.5%

Mar 2023-0.8%

Jun 2023-0.8%

Sep 20230.1%

Dec 2023-0.2%

Mar 2024-0.2%

Jun 2024-10%

Sep 20240.3%

Dec 20240.2%

Mar 20250.0%

Jun 2025-0.2%

Sep 20250.7%

Dec 20250.4%

Mar 2026-2.9%

Jun 2026—

Warner Music Group Corp. · WMG

Sep 20211.9%

Dec 20215.5%

Mar 2022—

Jun 20223.8%

Sep 20223.4%

Dec 20225.6%

Mar 20232.6%

Jun 20234.0%

Sep 20234.5%

Dec 20237.1%

Mar 20242.4%

Jun 20244.1%

Sep 20242.8%

Dec 20244.1%

Mar 20253.1%

Jun 20253.1%

Sep 20252.6%

Dec 20255.3%

Mar 20264.5%

Jun 2026—

ROCE change · reported quarter history

Showing the 12 largest of 27 companies with a series here. The remaining 15 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Formula One Group · FWONK

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−0.5 pp

Dec 2022+0.1 pp

Mar 2023−0.3 pp

Jun 20230.0 pp

Sep 2023−1.0 pp

Dec 2023−1.1 pp

Mar 2024−0.7 pp

Jun 2024−1.2 pp

Sep 2024+0.1 pp

Dec 2024−0.2 pp

Mar 2025−0.5 pp

Jun 2025+0.9 pp

Sep 2025+0.7 pp

Dec 2025+1.6 pp

Mar 2026+0.8 pp

Jun 2026—

Fox Corporation · FOXA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.1 pp

Dec 2022+1.0 pp

Mar 2023−4.5 pp

Jun 2023−1.0 pp

Sep 2023−0.8 pp

Dec 2023−0.9 pp

Mar 2024+5.0 pp

Jun 2024+1.0 pp

Sep 2024+0.8 pp

Dec 2024+1.4 pp

Mar 2025−0.5 pp

Jun 2025+0.3 pp

Sep 20250.0 pp

Dec 2025+0.4 pp

Mar 2026+0.6 pp

Jun 2026—

Live Nation Entertainment, Inc. · LYV

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+4.6 pp

Dec 20220.0 pp

Mar 2023+1.3 pp

Jun 2023+0.1 pp

Sep 2023+0.7 pp

Dec 2023+0.8 pp

Mar 2024−2.2 pp

Jun 2024+0.6 pp

Sep 2024−0.8 pp

Dec 2024−1.6 pp

Mar 2025+1.7 pp

Jun 2025+0.3 pp

Sep 2025+1.4 pp

Dec 2025+1.2 pp

Mar 2026−4.7 pp

Jun 2026—

Madison Square Garden Sports Corp. · MSGS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−0.3 pp

Dec 2022+2.1 pp

Mar 2023+2.7 pp

Jun 2023−4.1 pp

Sep 2023+2.4 pp

Dec 2023−2.5 pp

Mar 20240.0 pp

Jun 2024+8.0 pp

Sep 2024+0.8 pp

Dec 2024−1.9 pp

Mar 2025−5.6 pp

Jun 2025−9.1 pp

Sep 2025−2.3 pp

Dec 2025+1.0 pp

Mar 2026−3.5 pp

Jun 2026—

Netflix, Inc. · NFLX

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−1.3 pp

Dec 2022−0.5 pp

Mar 2023−1.3 pp

Jun 2023+0.1 pp

Sep 2023+0.6 pp

Dec 2023+2.3 pp

Mar 2024+2.1 pp

Jun 2024+1.9 pp

Sep 2024+2.3 pp

Dec 2024+1.8 pp

Mar 2025+1.7 pp

Jun 2025+2.7 pp

Sep 2025+0.5 pp

Dec 2025+1.3 pp

Mar 2026+0.5 pp

Jun 2026+0.2 pp

News Corporation · NWS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−0.7 pp

Dec 2022−1.5 pp

Mar 2023−0.3 pp

Jun 2023−0.2 pp

Sep 2023+0.1 pp

Dec 2023+0.4 pp

Mar 20240.0 pp

Jun 2024+0.4 pp

Sep 2024+0.2 pp

Dec 2024+0.7 pp

Mar 2025+0.5 pp

Jun 2025−0.1 pp

Sep 2025+0.1 pp

Dec 2025+0.2 pp

Mar 2026+0.3 pp

Jun 2026—

Roku, Inc. · ROKU

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−7.2 pp

Dec 2022−8.3 pp

Mar 2023−5.6 pp

Jun 2023−0.4 pp

Sep 2023−6.5 pp

Dec 2023+4.2 pp

Mar 2024+4.1 pp

Jun 2024+1.5 pp

Sep 2024+9.7 pp

Dec 2024+2.0 pp

Mar 2025+0.4 pp

Jun 2025+1.5 pp

Sep 2025+1.5 pp

Dec 2025+3.4 pp

Mar 2026+3.6 pp

Jun 2026—

Sirius XM Holdings Inc. · SIRI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−2.0 pp

Dec 2022+1.2 pp

Mar 2023−1.3 pp

Jun 2023−0.1 pp

Sep 2023+1.0 pp

Dec 2023−5.1 pp

Mar 2024−0.4 pp

Jun 2024−0.6 pp

Sep 2024−25.9 pp

Dec 2024−0.7 pp

Mar 2025−3.0 pp

Jun 2025−3.9 pp

Sep 2025+20.5 pp

Dec 2025−1.1 pp

Mar 2026−0.5 pp

Jun 2026—

The Walt Disney Company · DIS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 20220.0 pp

Mar 2023—

Jun 2023+0.4 pp

Sep 2023−1.4 pp

Dec 2023+1.4 pp

Mar 2024—

Jun 2024+0.8 pp

Sep 2024+0.7 pp

Dec 2024+0.7 pp

Mar 2025+1.6 pp

Jun 2025+0.1 pp

Sep 2025+0.7 pp

Dec 20250.0 pp

Mar 20260.0 pp

Jun 2026—

TKO Group Holdings, Inc. · TKO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023−8.9 pp

Dec 2023−6.4 pp

Mar 2024+0.8 pp

Jun 2024−1.2 pp

Sep 2024−0.9 pp

Dec 2024−0.4 pp

Mar 2025+3.1 pp

Jun 2025+2.0 pp

Sep 2025+1.0 pp

Dec 20250.0 pp

Mar 2026+0.7 pp

Jun 2026—

Warner Bros. Discovery, Inc. · WBD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−4.0 pp

Dec 2022−4.1 pp

Mar 2023−2.0 pp

Jun 2023+3.8 pp

Sep 2023+3.0 pp

Dec 2023+2.3 pp

Mar 2024+0.6 pp

Jun 2024−9.3 pp

Sep 2024+0.2 pp

Dec 2024+0.4 pp

Mar 2025+0.2 pp

Jun 2025+9.9 pp

Sep 2025+0.4 pp

Dec 2025+0.2 pp

Mar 2026−2.9 pp

Jun 2026—

Warner Music Group Corp. · WMG

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+1.5 pp

Dec 2022+0.1 pp

Mar 2023—

Jun 2023+0.2 pp

Sep 2023+1.1 pp

Dec 2023+1.5 pp

Mar 2024−0.2 pp

Jun 2024+0.1 pp

Sep 2024−1.7 pp

Dec 2024−3.0 pp

Mar 2025+0.7 pp

Jun 2025−1.0 pp

Sep 2025−0.2 pp

Dec 2025+1.2 pp

Mar 2026+1.4 pp

Jun 2026—

07 · compare level, then change

Valuation Against Growth & Quality

The Walt Disney Company has the lowest Guarded PEG among the 27 Entertainment companies compared here, at 0.53×. Netflix, Inc. is next at 0.64×. Atlanta Braves Holdings, Inc. has the lowest P/E at -2548.6×, so level and change sit with different companies. 11 of 27 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: The Walt Disney Company has the lowest comparable Guarded PEG at 0.53×, 17.2% below Netflix, Inc.. Only 11 of 27 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderThe Walt Disney Company · 0.53×

Gap17.2% versus #2 · Netflix, Inc.

Persistence0/8 recent comparable periods

Coverage11/27 companies · 33 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.

Guarded PEGlowest PEG

1The Walt Disney Company DIS0.5

2Netflix, Inc. NFLX0.6

3Fox Corporation FOXA1.5

4Sirius XM Holdings Inc. SIRI1.9

5Live Nation Entertainment, Inc. LYV2.1

P/Elowest P/E

1Atlanta Braves Holdings, Inc. BATRK · older report-2,548.6

2Sirius XM Holdings Inc. SIRI9.7

3AMC Global Media Inc. AMCX11.3

4Fox Corporation FOXA14.0

5The Walt Disney Company DIS14.8

Valuation · company comparison

11/27 level · 21/27 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Guarded PEG	P/E	Reported
Reservoir Media, Inc. RSVR	8.3	75.3	Mar 2026
The Marcus Corporation MCS	5.2	39.9	Mar 2026
News Corporation NWS	3.9	36.1	Mar 2026
Warner Music Group Corp. WMG	2.8	30.1	Mar 2026
TKO Group Holdings, Inc. TKO	2.1	75.2	Mar 2026
Live Nation Entertainment, Inc. LYV	2.1	118.4	Mar 2026
Madison Square Garden Sports Corp. MSGS	1.9	927.2	Mar 2026
Sirius XM Holdings Inc. SIRI	1.9	9.7	Mar 2026
IMAX Corporation IMAX	1.5	55.4	Jun 2026
Fox Corporation FOXA	1.5	14.0	Mar 2026
Netflix, Inc. NFLX	0.6	22.5	Jun 2026
The Walt Disney Company DIS	0.5	14.8	Mar 2026
Warner Bros. Discovery, Inc. WBD	—	99.4	Mar 2026
Formula One Group FWONK	—	44.4	Mar 2026
Roku, Inc. ROKU	—	71.1	Mar 2026
Paramount Skydance Corporation PSKY	—	31.5	Mar 2026
Sphere Entertainment Co. SPHR	—	66.0	Mar 2026
Cinemark Holdings, Inc. CNK	—	25.2	Mar 2026
Madison Square Garden Entertainment Corp. MSGE	—	57.8	Mar 2026
Atlanta Braves Holdings, Inc. BATRK	—	-2,548.6	Sep 2025
AMC Global Media Inc. AMCX	—	11.3	Mar 2026

Full 20-quarter history · every available company

Guarded PEG · reported quarter history

Fox Corporation · FOXA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 20231.4

Sep 2023—

Dec 2023—

Mar 20240.2

Jun 20240.3

Sep 2024—

Dec 2024—

Mar 20250.5

Jun 20250.2

Sep 20251.5

Dec 2025—

Mar 2026—

Jun 2026—

IMAX Corporation · IMAX

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 20248.2

Mar 2025—

Jun 20250.9

Sep 2025—

Dec 20252.2

Mar 20261.5

Jun 2026—

Live Nation Entertainment, Inc. · LYV

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 202417.8

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 20252.1

Dec 2025—

Mar 2026—

Jun 2026—

Madison Square Garden Sports Corp. · MSGS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 20234.3

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 20242.8

Sep 2024—

Dec 20241.9

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Netflix, Inc. · NFLX

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 20232.0

Mar 20240.8

Jun 2024—

Sep 2024—

Dec 2024—

Mar 20250.9

Jun 20251.2

Sep 20251.4

Dec 20251.4

Mar 20260.7

Jun 20260.6

News Corporation · NWS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 20251.2

Dec 20253.9

Mar 2026—

Jun 2026—

Reservoir Media, Inc. · RSVR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 20268.3

Jun 2026—

Sirius XM Holdings Inc. · SIRI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 20231.9

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

The Marcus Corporation · MCS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 20235.2

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

The Walt Disney Company · DIS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 20260.5

Jun 2026—

TKO Group Holdings, Inc. · TKO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 20262.1

Jun 2026—

Warner Music Group Corp. · WMG

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 20240.8

Jun 20240.8

Sep 2024—

Dec 20242.8

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

P/E · reported quarter history

Showing the 12 largest of 21 companies with a series here. The remaining 9 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Formula One Group · FWONK

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022126.3

Dec 202272.8

Mar 2023252.6

Jun 2023166.4

Sep 2023123.0

Dec 202393.5

Mar 202442.9

Jun 202460.6

Sep 202480.4

Dec 2024—

Mar 2025—

Jun 2025118.7

Sep 2025221.4

Dec 202541.2

Mar 202644.4

Jun 2026—

Fox Corporation · FOXA

Sep 202112.5

Dec 202114.0

Mar 202218.2

Jun 202214.1

Sep 202214.3

Dec 202210.4

Mar 202314.7

Jun 202313.7

Sep 202314.2

Dec 202316.4

Mar 20249.0

Jun 202410.2

Sep 20249.5

Dec 20249.8

Mar 202513.1

Jun 202510.5

Sep 202512.9

Dec 202515.6

Mar 202614.0

Jun 2026—

Live Nation Entertainment, Inc. · LYV

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022108.6

Dec 2022134.1

Mar 2023118.6

Jun 202395.9

Sep 202362.0

Dec 202369.9

Mar 2024106.8

Jun 202493.7

Sep 2024124.4

Dec 202447.3

Mar 202544.6

Jun 202565.5

Sep 2025118.4

Dec 2025—

Mar 2026—

Jun 2026—

Madison Square Garden Sports Corp. · MSGS

Sep 2021—

Dec 202178.3

Mar 202259.8

Jun 202271.9

Sep 202267.3

Dec 202282.6

Mar 202357.3

Jun 202399.5

Sep 202395.8

Dec 2023114.4

Mar 2024188.3

Jun 202477.1

Sep 202471.6

Dec 202495.2

Mar 2025927.2

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Netflix, Inc. · NFLX

Sep 202155.0

Dec 202153.6

Mar 202234.0

Jun 202215.5

Sep 202221.1

Dec 202229.6

Mar 202337.2

Jun 202346.9

Sep 202337.7

Dec 202340.6

Mar 202442.2

Jun 202442.2

Sep 202440.1

Dec 202445.0

Mar 202544.0

Jun 202557.0

Sep 202550.0

Dec 202537.1

Mar 202631.0

Jun 202622.5

News Corporation · NWS

Sep 202128.0

Dec 202126.8

Mar 202226.5

Jun 202215.1

Sep 202219.3

Dec 202235.5

Mar 202337.1

Jun 202370.4

Sep 202383.5

Dec 202362.7

Mar 202469.4

Jun 202460.4

Sep 202443.7

Dec 202441.1

Mar 202535.7

Jun 202540.9

Sep 202540.7

Dec 202536.6

Mar 202636.1

Jun 2026—

Roku, Inc. · ROKU

Sep 2021154.4

Dec 2021133.5

Mar 2022127.8

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025183.9

Mar 202671.1

Jun 2026—

Sirius XM Holdings Inc. · SIRI

Sep 202187.1

Dec 202119.8

Mar 202219.5

Jun 202219.8

Sep 202219.7

Dec 202219.7

Mar 202314.2

Jun 202315.6

Sep 202314.5

Dec 202319.8

Mar 202413.3

Jun 20249.9

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 20258.2

Dec 20259.0

Mar 20269.7

Jun 2026—

The Walt Disney Company · DIS

Sep 2021—

Dec 2021161.5

Mar 202292.2

Jun 202294.5

Sep 202255.9

Dec 202254.8

Mar 2023—

Jun 202344.5

Sep 202372.6

Dec 202355.7

Mar 2024133.0

Jun 202438.2

Sep 202435.3

Dec 202436.3

Mar 202520.1

Jun 202519.2

Sep 202516.6

Dec 202516.7

Mar 202614.8

Jun 2026—

TKO Group Holdings, Inc. · TKO

Sep 2021—

Dec 202123.6

Mar 2022—

Jun 2022—

Sep 2022—

Dec 202251.1

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 20247,105.5

Mar 202577.6

Jun 202575.2

Sep 202577.4

Dec 202592.5

Mar 202675.2

Jun 2026—

Warner Bros. Discovery, Inc. · WBD

Sep 202113.5

Dec 202115.3

Mar 202212.3

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 202538.2

Sep 2025102.8

Dec 202599.4

Mar 2026—

Jun 2026—

Warner Music Group Corp. · WMG

Sep 202173.7

Dec 202156.8

Mar 2022—

Jun 202251.7

Sep 202229.3

Dec 202237.2

Mar 202340.2

Jun 202332.6

Sep 202338.3

Dec 202340.7

Mar 202433.0

Jun 202429.5

Sep 202437.7

Dec 202431.6

Mar 202536.0

Jun 202547.8

Sep 202549.4

Dec 202552.9

Mar 202630.1

Jun 2026—

08 · compare level, then change

Enterprise Value & Book Value

Lionsgate Studios Corp. has the lowest EV/EBITDA among the 27 Entertainment companies compared here, at 4.14×. Fox Corporation is next at 7.27×. AMC Global Media Inc. has the lowest P/BV at 0.31×, so level and change sit with different companies. 25 of 27 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Lionsgate Studios Corp. leads ev/ebitda at 4.14×; AMC Global Media Inc. leads p/bv at 0.31×.

LeaderLionsgate Studios Corp. · 4.14×

Gap43.1% versus #2 · Fox Corporation

Persistence6/6 recent comparable periods

Coverage25/27 companies · 359 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.

EV/EBITDAlowest EV/EBITDA

1Lionsgate Studios Corp. LION4.1

2Fox Corporation FOXA7.3

3Starz Entertainment Corp. STRZ8.0

4AMC Global Media Inc. AMCX8.3

5Sirius XM Holdings Inc. SIRI8.3

P/BVlowest P/BV

1AMC Global Media Inc. AMCX0.3

2Sirius XM Holdings Inc. SIRI0.7

3Paramount Skydance Corporation PSKY0.9

4The Marcus Corporation MCS1.2

5The Walt Disney Company DIS1.5

Enterprise and book valuation · company comparison

25/27 level · 20/27 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	EV/EBITDA	P/BV	Reported
Madison Square Garden Sports Corp. MSGS	944.0	-26.2	Mar 2026
Sphere Entertainment Co. SPHR	128.1	1.9	Mar 2026
Roku, Inc. ROKU	68.4	5.2	Mar 2026
Atlanta Braves Holdings, Inc. BATRK	40.0	4.7	Sep 2025
Live Nation Entertainment, Inc. LYV	27.0	103.5	Mar 2026
Warner Bros. Discovery, Inc. WBD	27.0	2.1	Mar 2026
Formula One Group FWONK	21.0	2.5	Mar 2026
Netflix, Inc. NFLX	20.5	9.9	Jun 2026
IMAX Corporation IMAX	16.4	6.1	Jun 2026
TKO Group Holdings, Inc. TKO	16.4	4.5	Mar 2026
AMC Entertainment Holdings, Inc. AMC	16.0	-1.2	Jun 2026
Reservoir Media, Inc. RSVR	15.7	1.7	Mar 2026
Warner Music Group Corp. WMG	14.0	18.1	Mar 2026
News Corporation NWS	13.6	1.8	Mar 2026
Madison Square Garden Entertainment Corp. MSGE	13.6	—	Mar 2026
Manchester United plc MANU	12.3	12.2	Mar 2026
The Walt Disney Company DIS	11.4	1.5	Mar 2026
Cinemark Holdings, Inc. CNK	10.5	8.7	Mar 2026
The Marcus Corporation MCS	9.8	1.2	Mar 2026
Paramount Skydance Corporation PSKY	9.2	0.9	Mar 2026
Sirius XM Holdings Inc. SIRI	8.3	0.7	Mar 2026
AMC Global Media Inc. AMCX	8.3	0.3	Mar 2026
Starz Entertainment Corp. STRZ	8.0	—	Mar 2026
Fox Corporation FOXA	7.3	2.0	Mar 2026
Lionsgate Studios Corp. LION	4.1	-2.3	Mar 2026
Angel Studios, Inc. ANGX	—	-12.6	Mar 2026

Full 20-quarter history · every available company

EV/EBITDA · reported quarter history

Showing the 12 largest of 25 companies with a series here. The remaining 13 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Formula One Group · FWONK

Sep 202115.7

Dec 202110.9

Mar 202210.1

Jun 20229.8

Sep 20229.9

Dec 202250.6

Mar 202311.0

Jun 202310.9

Sep 202311.9

Dec 202328.5

Mar 202420.0

Jun 202434.6

Sep 202425.1

Dec 202433.4

Mar 202547.4

Jun 202537.7

Sep 202540.6

Dec 202528.0

Mar 202621.0

Jun 2026—

Fox Corporation · FOXA

Sep 20218.1

Dec 20217.8

Mar 20227.9

Jun 20226.6

Sep 20226.0

Dec 20225.8

Mar 20236.0

Jun 20239.5

Sep 20236.0

Dec 202310.4

Mar 20246.5

Jun 20246.4

Sep 20247.2

Dec 20247.8

Mar 20258.4

Jun 20257.5

Sep 20258.4

Dec 20259.6

Mar 20267.3

Jun 2026—

Live Nation Entertainment, Inc. · LYV

Sep 2021—

Dec 2021—

Mar 202290.4

Jun 202227.4

Sep 202218.2

Dec 202216.5

Mar 202314.3

Jun 202316.9

Sep 202314.7

Dec 202315.7

Mar 202418.9

Jun 202416.2

Sep 202419.4

Dec 202424.8

Mar 202521.5

Jun 202524.4

Sep 202524.0

Dec 202520.2

Mar 202627.0

Jun 2026—

Madison Square Garden Sports Corp. · MSGS

Sep 2021—

Dec 2021—

Mar 2022116.0

Jun 202250.1

Sep 202247.1

Dec 202252.7

Mar 202345.9

Jun 202362.8

Sep 202348.9

Dec 202363.0

Mar 202465.4

Jun 202437.0

Sep 202438.8

Dec 202445.7

Mar 202562.1

Jun 2025336.1

Sep 2025—

Dec 2025944.0

Mar 2026—

Jun 2026—

Netflix, Inc. · NFLX

Sep 202141.6

Dec 202143.2

Mar 202227.1

Jun 202213.8

Sep 202218.7

Dec 202223.4

Mar 202328.0

Jun 202333.6

Sep 202327.0

Dec 202329.8

Mar 202432.7

Jun 202433.0

Sep 202431.1

Dec 202436.0

Mar 202535.2

Jun 202545.6

Sep 202539.6

Dec 202529.4

Mar 202628.5

Jun 202620.5

News Corporation · NWS

Sep 202112.6

Dec 202111.4

Mar 202211.5

Jun 20228.0

Sep 20228.1

Dec 202210.8

Mar 202310.3

Jun 202314.9

Sep 202312.6

Dec 202315.1

Mar 202416.3

Jun 202412.7

Sep 202418.3

Dec 202417.0

Mar 202515.9

Jun 202512.6

Sep 202517.6

Dec 202514.9

Mar 202613.6

Jun 2026—

Roku, Inc. · ROKU

Sep 2021125.5

Dec 2021105.1

Mar 202285.0

Jun 20227,550.8

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025223.8

Mar 202668.4

Jun 2026—

Sirius XM Holdings Inc. · SIRI

Sep 202121.5

Dec 202113.4

Mar 202212.9

Jun 202212.9

Sep 202213.0

Dec 202212.8

Mar 202310.2

Jun 202311.0

Sep 202310.7

Dec 202314.4

Mar 20249.9

Jun 20248.2

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 20257.8

Dec 20258.1

Mar 20268.3

Jun 2026—

The Walt Disney Company · DIS

Sep 2021—

Dec 202145.4

Mar 202233.1

Jun 202228.4

Sep 202219.4

Dec 202218.7

Mar 2023—

Jun 202319.1

Sep 202321.4

Dec 202318.5

Mar 202426.6

Jun 202417.1

Sep 202416.4

Dec 202417.2

Mar 202512.8

Jun 202515.2

Sep 202513.3

Dec 202513.6

Mar 202611.4

Jun 2026—

TKO Group Holdings, Inc. · TKO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 202313.0

Sep 202324.5

Dec 2023138.4

Mar 202434.0

Jun 202431.8

Sep 202432.5

Dec 202438.8

Mar 202523.4

Jun 202520.7

Sep 202519.2

Dec 202518.6

Mar 202616.4

Jun 2026—

Warner Bros. Discovery, Inc. · WBD

Sep 20217.8

Dec 20216.8

Mar 20226.6

Jun 202268.8

Sep 2022129.3

Dec 2022—

Mar 2023189.4

Jun 202326.9

Sep 202314.4

Dec 202310.7

Mar 20249.5

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 20259.0

Sep 202512.0

Dec 202515.7

Mar 202627.0

Jun 2026—

Warner Music Group Corp. · WMG

Sep 202130.6

Dec 202126.8

Mar 2022—

Jun 202222.9

Sep 202216.6

Dec 202219.9

Mar 202320.2

Jun 202316.0

Sep 202317.8

Dec 202318.4

Mar 202417.4

Jun 202416.2

Sep 202416.9

Dec 202419.4

Mar 202519.1

Jun 202517.7

Sep 202520.3

Dec 202517.3

Mar 202614.0

Jun 2026—

P/BV · reported quarter history

Showing the 12 largest of 24 companies with a series here. The remaining 12 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Formula One Group · FWONK

Sep 20210.7

Dec 20210.9

Mar 20221.0

Jun 20220.9

Sep 20220.8

Dec 20220.7

Mar 20231.0

Jun 20230.9

Sep 20230.8

Dec 20230.8

Mar 20240.8

Jun 20240.9

Sep 20242.4

Dec 20243.0

Mar 20252.9

Jun 20253.2

Sep 20253.2

Dec 20252.9

Mar 20262.5

Jun 2026—

Fox Corporation · FOXA

Sep 20211.9

Dec 20211.7

Mar 20221.8

Jun 20221.4

Sep 20221.4

Dec 20221.3

Mar 20231.6

Jun 20231.5

Sep 20231.4

Dec 20231.3

Mar 20241.3

Jun 20241.4

Sep 20241.6

Dec 20241.8

Mar 20252.1

Jun 20251.9

Sep 20252.1

Dec 20252.5

Mar 20262.0

Jun 2026—

Live Nation Entertainment, Inc. · LYV

Sep 2021-45.2

Dec 2021-34.9

Mar 2022-39.6

Jun 2022-49.6

Sep 202253.2

Dec 2022-58.9

Mar 2023-41.9

Jun 2023113.2

Sep 202317.5

Dec 202343.0

Mar 202468.6

Jun 202442.5

Sep 202420.7

Dec 202430.6

Mar 202533.4

Jun 202527.5

Sep 202523.2

Dec 202528.8

Mar 2026103.5

Jun 2026—

Madison Square Garden Sports Corp. · MSGS

Sep 2021-19.2

Dec 2021-19.8

Mar 2022-24.2

Jun 2022-24.9

Sep 2022-19.2

Dec 2022-11.3

Mar 2023-14.0

Jun 2023-13.3

Sep 2023-11.8

Dec 2023-12.8

Mar 2024-15.0

Jun 2024-16.9

Sep 2024-18.0

Dec 2024-19.8

Mar 2025-16.5

Jun 2025-17.8

Sep 2025-18.6

Dec 2025-22.1

Mar 2026-26.2

Jun 2026—

Netflix, Inc. · NFLX

Sep 202117.7

Dec 202116.9

Mar 20229.5

Jun 20224.1

Sep 20225.1

Dec 20226.3

Mar 20237.0

Jun 20238.6

Sep 20237.5

Dec 202310.2

Mar 202412.3

Jun 202413.1

Sep 202413.3

Dec 202415.4

Mar 202516.5

Jun 202522.8

Sep 202519.6

Dec 202514.9

Mar 202613.0

Jun 20269.9

News Corporation · NWS

Sep 20211.7

Dec 20211.6

Mar 20221.6

Jun 20221.1

Sep 20221.1

Dec 20221.3

Mar 20231.2

Jun 20231.4

Sep 20231.5

Dec 20231.8

Mar 20241.9

Jun 20242.0

Sep 20241.9

Dec 20242.1

Mar 20252.1

Jun 20252.2

Sep 20252.2

Dec 20251.9

Mar 20261.8

Jun 2026—

Roku, Inc. · ROKU

Sep 202115.6

Dec 202111.2

Mar 20226.1

Jun 20224.1

Sep 20222.8

Dec 20222.2

Mar 20233.6

Jun 20233.6

Sep 20234.4

Dec 20235.7

Mar 20244.0

Jun 20243.6

Sep 20244.4

Dec 20244.4

Mar 20254.1

Jun 20255.0

Sep 20255.6

Dec 20256.0

Mar 20265.2

Jun 2026—

Sirius XM Holdings Inc. · SIRI

Sep 2021-9.6

Dec 2021-9.6

Mar 2022-7.3

Jun 2022-6.7

Sep 2022-6.2

Dec 2022-6.8

Mar 2023-4.7

Jun 2023-5.6

Sep 2023-6.0

Dec 20232.1

Mar 2024-6.3

Jun 2024-5.2

Sep 20240.7

Dec 20240.7

Mar 20250.7

Jun 20250.7

Sep 20250.7

Dec 20250.6

Mar 20260.7

Jun 2026—

The Walt Disney Company · DIS

Sep 2021—

Dec 20213.6

Mar 20223.1

Jun 20222.7

Sep 20221.9

Dec 20221.8

Mar 2023—

Jun 20231.9

Sep 20231.7

Dec 20231.6

Mar 20242.3

Jun 20241.8

Sep 20241.7

Dec 20242.0

Mar 20251.7

Jun 20252.0

Sep 20251.9

Dec 20251.9

Mar 20261.5

Jun 2026—

TKO Group Holdings, Inc. · TKO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 20230.0

Sep 20231.7

Dec 20231.6

Mar 20241.8

Jun 20242.2

Sep 20242.5

Dec 20242.8

Mar 20253.0

Jun 20253.5

Sep 20254.2

Dec 20254.4

Mar 20264.5

Jun 2026—

Warner Bros. Discovery, Inc. · WBD

Sep 20211.1

Dec 20211.0

Mar 20221.1

Jun 20220.6

Sep 20220.6

Dec 20220.5

Mar 20230.8

Jun 20230.7

Sep 20230.6

Dec 20230.6

Mar 20240.5

Jun 20240.5

Sep 20240.6

Dec 20240.8

Mar 20250.8

Jun 20250.8

Sep 20251.3

Dec 20252.0

Mar 20262.1

Jun 2026—

Warner Music Group Corp. · WMG

Sep 2021709.2

Dec 2021145.2

Mar 2022—

Jun 2022123.6

Sep 202281.1

Dec 202266.9

Mar 202368.3

Jun 202347.9

Sep 202352.8

Dec 202340.0

Mar 202439.5

Jun 202432.9

Sep 202431.3

Dec 202429.6

Mar 202528.8

Jun 202524.1

Sep 202527.5

Dec 202522.2

Mar 202618.1

Jun 2026—

09 · let price answer last

Market action

Sphere Entertainment Co. has the strongest one-year price move in Entertainment at +247.1%. Starz Entertainment Corp. leads on Mansfield relative strength against the S&P 500 at +53.8%. 17 of 26 covered companies are above zero on that measure. Every line covers 314 weekly closes through 2026-07-28.

Every price line is indexed to 100 over the chosen window. Mansfield relative strength compares a price ratio with its own 52-week average; zero separates leadership from lagging.

Price and relative strength

Price is rebased to 100 inside the selected window. Pair ratio rebases each selected company against one chosen denominator.

Before the conclusion · check the blind spots

What can make this comparison misleading?

This Entertainment comparison names 5 specific ways its own evidence can mislead, all listed below. 1 of the 27 companies reports on an older date than the sector's freshest reporters, so its rank is marked stale. A high growth rate can still be a low-base artefact.

Keep these limits visible

A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
1 company has an older fundamental reporting date than the sector’s freshest reporters; its rank carries a stale marker.

10 · the complete set

Which companies are included?

All 27 companies in the canonical Entertainment membership are listed below, largest market value first — nothing is silently dropped, even where a company reports too little to rank. The charts above default to a selective view; this register is the complete set, with each company's own latest reporting date beside it.

AHEAD means the company is beating the index by 5% or more over three months. LAGGING, FUNDAMENTALS UP means it is 20% or more behind over a year while its trailing twelve-month earnings grew 20% or more. Both rules are fixed and applied the same way in every sector.

Company	Market value	Price	Priced to	Latest fundamentals
Netflix, Inc. NFLXLAGGING, FUNDAMENTALS UP	$301.4B	$72.4	2026-07-28	Jun 2026
The Walt Disney Company DISLAGGING, FUNDAMENTALS UP	$171.7B	$98.9	2026-07-28	Mar 2026
Warner Bros. Discovery, Inc. WBD	$64.2B	$25.6	2026-07-28	Mar 2026
Live Nation Entertainment, Inc. LYVAHEAD20/26 WEEKS	$42.1B	$181	2026-07-28	Mar 2026
TKO Group Holdings, Inc. TKO	$35.4B	$186	2026-07-28	Mar 2026
Formula One Group FWONK	$25.3B	$101	2026-07-28	Mar 2026
Fox Corporation FOXA	$24.2B	$57.7	2026-07-28	Mar 2026
Roku, Inc. ROKUAHEAD18/26 WEEKS	$21.3B	$144	2026-07-28	Mar 2026
News Corporation NWS	$15.9B	$31.8	2026-07-28	Mar 2026
Warner Music Group Corp. WMG	$15.0B	$28.8	2026-07-28	Mar 2026
Sirius XM Holdings Inc. SIRIAHEAD23/26 WEEKS	$10.7B	$31.7	2026-07-28	Mar 2026
Madison Square Garden Sports Corp. MSGSAHEAD26/26 WEEKS	$9.6B	$398	2026-07-28	Mar 2026
Paramount Skydance Corporation PSKY	$9.0B	$8.1	2026-07-28	Mar 2026
Versant Media Group, Inc. VSNT	$5.3B	$37.2	2026-07-28	Mar 2026
Sphere Entertainment Co. SPHR25/26 WEEKS	$5.1B	$141	2026-07-28	Mar 2026
Cinemark Holdings, Inc. CNKAHEAD	$4.1B	$35.1	2026-07-28	Mar 2026
Manchester United plc MANUAHEAD25/26 WEEKS	$4.0B	$23.4	2026-07-28	Mar 2026
Lionsgate Studios Corp. LION26/26 WEEKS	$3.9B	$13.3	2026-07-28	Mar 2026
Madison Square Garden Entertainment Corp. MSGEAHEAD26/26 WEEKS	$3.7B	$77.2	2026-07-28	Mar 2026
Atlanta Braves Holdings, Inc. BATRK	$3.2B	$50.9	2026-07-28	Sep 2025
IMAX Corporation IMAXAHEAD	$2.6B	$47.3	2026-07-28	Jun 2026
AMC Entertainment Holdings, Inc. AMCAHEAD	$2.4B	$2.7	2026-07-28	Jun 2026
The Marcus Corporation MCSAHEAD25/26 WEEKS	$766M	$24.9	2026-07-28	Mar 2026
Angel Studios, Inc. ANGXAHEAD	$762M	$4.1	2026-07-28	Mar 2026
Reservoir Media, Inc. RSVR18/26 WEEKS	$731M	$11.1	2026-07-28	Mar 2026
AMC Global Media Inc. AMCXAHEAD	$451M	$10.3	2026-07-28	Mar 2026
Starz Entertainment Corp. STRZAHEAD22/26 WEEKS	$431M	$25.7	2026-07-28	Mar 2026

Evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 27 Entertainment companies, normalized to a common $ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-07-28. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

FundamentalsThrough Jun 2026 · up to 20 quarters per company

Market dataThrough 2026-07-28 · weekly price and relative-strength history

Derived metricsGrowth, changes, CAPEX intensity, net debt, guarded PEG and P/BV÷ROE are calculated only when their inputs are comparable.

Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.

Questions investors ask · short, speakable answers

Entertainment company comparison FAQs

These 18 answers restate the Entertainment comparison above in question form. Every one is computed from the same 27 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-07-28. Nothing here is estimated, and none of it is a recommendation.

Which Entertainment company is the biggest?

The Walt Disney Company is the largest, with trailing-twelve-month revenue of $97,263 million, ahead of Netflix, Inc. at $48,371 million. That covers 23 of 27 companies with comparable reporting through Mar 2026.

Which Entertainment company is growing fastest?

Sphere Entertainment Co. has the fastest revenue growth at 21.6% year on year, across 22 of 27 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.

Which Entertainment company has the best profit margins?

Netflix, Inc. has the highest operating margin at 33.4%, from 27 of 27 comparable companies. Angel Studios, Inc. shows the biggest recent improvement, at +68.5 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

Which Entertainment company makes the most profit?

Netflix, Inc. earns the most, at $13,650 million of trailing-twelve-month net profit, from 23 of 27 comparable companies. TKO Group Holdings, Inc. has the fastest profit growth at 100%, though growth off a small or recovering profit base overstates how much has actually changed.

Which Entertainment company earns the highest return on capital?

Netflix, Inc. leads on return on capital employed at 9.3%, across 27 of 27 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which Entertainment stock is the cheapest?

On guarded PEG — where a LOWER number is cheaper — The Walt Disney Company screens cheapest at 0.53×. Only 11 of 27 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Which Entertainment company has the strongest balance sheet?

Starz Entertainment Corp. carries the lowest comparable gross debt at $0 million, from 26 of 27 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.

Which Entertainment company is investing most in new capacity?

The Walt Disney Company reports the largest capital spending at $1,973 million, across 27 of 27 companies. Spending consumes cash before it earns anything, so treat the ranking as a diligence queue: check commissioning, utilisation and the return earned on the completed assets before reading spend as value creation.

Is the Entertainment sector beating the market?

Entertainment has outperformed S&P 500 by 19.5% over the last 52 weeks and 7.8% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 17 of 26 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

Which Entertainment stock has the strongest price momentum?

Starz Entertainment Corp. has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which Entertainment company scores highest for research priority?

Roku, Inc. scores 61 out of 100 with 64.6% evidence confidence, from 24.2 points on growth and earnings, 12.3 on capital efficiency, 9.3 on valuation and 15.2 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many Entertainment companies does this comparison cover, and over what period?

It compares 27 listed companies over up to 20 reported quarters of fundamentals and 6 fiscal years of capital allocation, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the Entertainment sector?

The 27 Entertainment companies on this page carry $783,034 million of combined market value. Netflix, Inc. is the largest at $301,428 million, about 38% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-28.

What is the Entertainment sector's P/E ratio?

The median price-to-earnings ratio across the 27 Entertainment companies on this page is 44.4×, measured on the 20 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-07-28.

How is the Entertainment sector performing?

17 of the 26 covered Entertainment companies are beating S&P 500 on Mansfield relative strength. The sector itself is 19.5% ahead of S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-07-28.

How many Entertainment stocks are listed in the US?

This comparison covers 27 listed Entertainment companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Jun 2026. Membership is the full industry list — nothing is dropped for having thin data.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.