SONONasdaqHousehold Audio & Video EquipmentFiscal year ends October 3
Sonos Inc
Financials through Q3 FY2026, quarter ended Jun 27, 2026Last filing: 10-Q on Jul 29, 2026
$16.93−0.41 (-2.36%)
Close on Oct 19, 2026
- Market cap
- $2.05B
- P/E (TTM)
- 37.6
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2015 to 2025
Gross margin
43.7%+0.6 pts over 5 years
Operating margin
-3.5%−1.4 pts over 5 years
Net margin
-4.2%−2.7 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 | -4.9% | -6.3% | +1.7% | +5.5% | |
| Gross profit | -8.5% | -7.5% | +2.0% | +5.1% | |
| Free cash flow | -19.7% | – | -3.4% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 157.1% | -7.0% | -15.6% | |
| Return on assets | – | -2.5% | -7.0% | |
| Current ratio | – | 1.68 | 1.43 | |
| Debt to equity | – | 0.08 | – | |
| Net debt to EBITDA | – | -41.59× | – | |
| Interest coverage | – | -18.3× | -108.5× | |
| Inventory turnover | – | 3.8× | 4.0× | |
| Capex to revenue | 5.8% | 2.5% | 2.0% | |
| Diluted shares | 54M | 110M | 121M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Sonos generated $708.67M from operations and spent $736.16M on capital expenditure, dividends and share buybacks. 31% of that went back into the business.
Generated
$708.67M
Used
$736.16M
Capital expenditure$225.96M31%Dividends$00%Share buybacks$510.20M69%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-4.2%
×Asset turnover1.66×
×Equity multiplier2.22×
=Return on equity, FY2025-15.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -4.2% | 1.66× | 2.22× | -15.6% |
| FY2024 | -2.5% | 1.58× | 2.03× | -8.1% |
| FY2023 | -0.6% | 1.51× | 2.03× | -1.9% |
| FY2022 | 3.8% | 1.51× | 2.06× | 11.9% |
| FY2021 | 9.2% | 1.76× | 2.26× | 36.6% |
| FY2020 | -1.5% | 1.68× | 2.73× | -7.0% |
| FY2019 | -0.4% | 1.87× | 2.76× | -1.9% |
| FY2018 | -1.4% | 2.30× | 4.74× | -15.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$61.14M
- Cash generatingOperating cash flow above zero$136.87M
- Return on assets improvedROA up on the prior year-3.8% → -6.7%
- Earnings backed by cashOperating cash flow above net income$136.87M vs -$61.14M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose1.51 → 1.43
- No dilutionShare count did not rise123M → 121M
- Gross margin improvedGross margin up on the prior year45.41% → 43.69%
- More efficientAsset turnover rose1.51 → 1.58