SIRINasdaqRadio Broadcasting StationsFiscal year ends December 31
SIRIUS XM HOLDINGS INC.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 30, 2026
$26.84−0.13 (-0.48%)
Close on Oct 19, 2026
- Market cap
- $9.18B
- P/E (TTM)
- 10.7
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
52.4%−3.6 pts over 5 years
Operating margin
17.2%+6.5 pts over 5 years
Net margin
9.4%+7.8 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -1.6% | -1.7% | +1.3% | +6.5% | |
| Gross profit | -2.8% | -3.0% | -0.1% | -0.1% | |
| Operating income | – | -8.5% | +11.4% | +2.2% | |
| Net income | – | -3.9% | +43.8% | +4.7% | |
| EPS, diluted | – | -9.0% | +45.7% | +8.1% | |
| Free cash flow | +22.9% | -7.1% | -5.7% | +1.2% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -155.6% | -8.7% | 7.1% | |
| Return on assets | 9.3% | 1.2% | 2.9% | |
| Current ratio | 0.24 | 0.31 | 0.30 | |
| Debt to equity | -7.38 | -3.72 | 0.84 | |
| Net debt to EBITDA | 3.41× | 6.95× | 5.08× | |
| Interest coverage | 4.3× | 2.2× | 3.2× | |
| Inventory turnover | 1.9× | 336.7× | – | |
| Capex to revenue | 4.1% | 4.4% | 7.6% | |
| Diluted shares | 438M | 391M | 357M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Sirius Xm generated $9.45B from operations and spent $5.70B on capital expenditure, dividends and share buybacks. 50% of that went back into the business.
Generated
$9.45B
Used
$5.70B
Capital expenditure$2.85B50%Dividends$268.00M5%Share buybacks$2.59B45%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin9.4%
×Asset turnover0.31×
×Equity multiplier2.42×
=Return on equity, FY20257.1%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 9.4% | 0.31× | 2.42× | 7.1% |
| FY2024 | -19.1% | 0.30× | 2.72× | -15.7% |
| FY2023 | 8.8% | 0.45× | 5.96× | 23.4% |
| FY2022 | 10.1% | 0.89× | -3.40× | -30.4% |
| FY2021 | 15.1% | 0.84× | -4.20× | -53.5% |
| FY2020 | 1.6% | 0.75× | -7.11× | -8.7% |
| FY2019 | 11.7% | 0.81× | -7.57× | -71.6% |
| FY2018 | 20.4% | 0.70× | -4.94× | -70.4% |
| FY2017 | 11.9% | 0.66× | -7.06× | -56.0% |
| FY2016 | 14.9% | 0.63× | -16.75× | -155.6% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$805.00M
- Cash generatingOperating cash flow above zero$1.90B
- Return on assets improvedROA up on the prior year-5.5% → 2.9%
- Earnings backed by cashOperating cash flow above net income$1.90B vs $805.00M
- Less leverageLong-term debt to assets fell37.5% → 31.8%
- Better liquidityCurrent ratio rose0.42 → 0.30
- No dilutionShare count did not rise338M → 357M
- Gross margin improvedGross margin up on the prior year53.06% → 52.44%
- More efficientAsset turnover rose0.29 → 0.31