Sirius XM Holdings Inc. (SIRI) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q3 26	$0.78	$0.7	-10.3%	—	—	—
Q2 26	$0.71	$0.72	+1.4%	—	—	—
Q1 26	$0.77	$0.24	-68.8%	—	—	—
Q4 25	$0.78	$0.84	+7.7%	—	—	—
Q3 25	$0.77	$0.57	-26.0%	—	—	—
Q2 25	$0.66	$0.67	+1.5%	—	—	—
Q1 25	$0.71	$0.83	+16.9%	—	—	—
Q4 24	$0.74	-$8.74	-1281.1%	—	—	—
Q3 24	$0.75	$0.8	+6.7%	—	—	—
Q2 24	$0.66	$0.7	+6.1%	—	—	—
Q1 24	$0.76	$0.97	+27.6%	—	—	—
Q4 23	$0.82	$0.9	+9.8%	—	—	—
Q3 23	$0.75	$0.8	+6.7%	—	—	—
Q2 23	$0.65	$0.6	-7.7%	—	—	—
Q1 23	$0.78	$1	+28.2%	—	—	—
Q4 22	$0.84	$0.6	-28.6%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$2.38	—	—	$8.6B	—
FY24	—	-$6.14	—	—	$8.7B	—
FY23	—	$2.91	—	—	$9B	—
FY22	—	$3.22	—	—	$9B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$5B	$5.4B	$5.8B	$7.8B	$8B	$8.7B	$9B	$9B	$8.7B	$8.6B
YoY change	+9.78%	+8.13%	+6.38%	+35.1%	+3.16%	+8.16%	+3.53%	-0.56%	-2.84%	-1.62%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	5B	5.4B	5.8B	7.8B	8B	8.7B	9B	9B	8.7B	8.6B
Cost of revenue	2.5B	2.6B	2.8B	3.9B	3.9B	4.3B	4.5B	4.6B	4.5B	4.5B
Gross profit	2.5B	2.8B	3B	3.9B	4.1B	4.4B	4.5B	4.4B	4.2B	4B
Gross margin	50%	52.1%	51.8%	50.6%	51%	50.6%	50.2%	49%	48.3%	47%
Research & development	82.1M	112M	123M	280M	263M	265M	285M	322M	296M	263M
Selling, general & administrative	727.8M	773M	838M	1.5B	1.5B	1.6B	1.6B	1.5B	1.4B	1.3B
Operating expenses	1.3B	1.4B	1.4B	2.2B	2.1B	1.8B	1.9B	1.9B	1.7B	1.6B
Operating income	1.4B	1.6B	1.7B	1.7B	1.9B	2B	2B	1.9B	1.9B	1.9B
Operating margin	28.5%	30.2%	30%	22.2%	23.2%	23.4%	22.1%	21.2%	22.3%	22.3%
Non-operating income, net	-9.2M	-31M	33M	-144M	-1B	-94M	2M	-156M	-3.3B	-392M
Pretax income	1.1B	1.3B	1.4B	1.2B	430M	1.5B	1.5B	1.2B	-1.9B	1.1B
Income tax	345.7M	616M	245M	283M	299M	212M	368M	222M	210M	251M
Net income	745.9M	648M	1.2B	914M	131M	1.3B	1.1B	988M	-2.1B	805M
Net margin	14.9%	11.9%	20.4%	11.7%	1.63%	15.1%	12.4%	11%	-23.9%	9.41%
EBITDA	1.7B	2B	2.1B	2.3B	2.4B	2.6B	2.7B	2.5B	2.7B	2.5B
EPS	1.5	1.4	2.6	2	0.3	3.2	3.22	2.91	-6.14	2.38
Diluted EPS	1.5	1.4	2.6	2	0.3	3.2	2.96	2.77	-6.14	2.23

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	2.3B	2.3B	2.2B	2.2B	2.2B	2.2B	2.1B	2.1B	2.2B	2.2B	2.1B	2.2B
Cost of revenue	1.1B	1.2B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B
Gross profit	1.1B	1.1B	1B	1.1B	1.1B	1.1B	964M	1B	1B	1.1B	989M	1B
Gross margin	49.6%	49.6%	47.9%	48.8%	48.6%	48%	46.6%	46.8%	46.8%	48%	47.3%	47.4%
Research & development	72M	88M	86M	71M	68M	72M	73M	56M	62M	72M	69M	56M
Selling, general & administrative	376M	380M	344M	336M	355M	338M	312M	351M	305M	341M	309M	324M
Operating expenses	448M	468M	430M	407M	423M	410M	385M	407M	367M	413M	378M	380M
Operating income	534M	517M	465M	523M	487M	517M	435M	472M	502M	498M	460M	478M
Operating margin	23.5%	22.6%	21.5%	24%	22.4%	23.6%	21%	22.1%	23.3%	22.7%	22%	22.1%
Non-operating income, net	-30M	-31M	-16M	-16M	-3.4B	-6M	-49M	-92M	1M	-252M	-22M	-54M
Pretax income	370M	382M	345M	405M	-3B	394M	269M	264M	388M	135M	326M	312M
Income tax	79M	30M	80M	89M	-39M	107M	65M	59M	91M	36M	81M	73M
Net income	291M	352M	265M	316M	-3B	287M	204M	205M	297M	99M	245M	239M
Net margin	12.8%	15.4%	12.3%	14.5%	-136.3%	13.1%	9.86%	9.59%	13.8%	4.51%	11.7%	11.1%
EBITDA	682M	671M	628M	658M	668M	645M	589M	618M	664M	669M	605M	605M
EPS	0.69	0.9	0.7	0.8	-7.24	0.85	0.6	0.61	0.88	0.29	0.73	0.71
Diluted EPS	0.67	0.9	0.7	0.8	-7.24	0.83	0.59	0.57	0.84	0.24	0.72	0.7

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	21.9B	24.9B	25.5B	32.2B	27.6B	25.8B	—	18.5B	7.7B	6.8B	8.7B
Enterprise value	27.5B	31.5B	32.3B	40.4B	36.5B	34.8B	—	29.4B	17.9B	16.4B	18.2B
Shares outstanding	491.7M	463.8M	446.2M	450.1M	433M	406.2M	347M	339M	338M	338M	338M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	29.3	38.4	21.7	35.2	210.6	19.6	—	18.8	—	8.4	10.4
P/S	4.36	4.58	4.41	4.13	3.43	2.97	—	2.07	0.89	0.79	1.01
P/B	-27.6	-16.3	-14	-43.7	-12.1	-9.83	—	1.42	0.7	0.58	0.73
EV/EBITDA	16	16.1	15.6	17.9	15	13.3	—	11.7	6.65	6.45	7.2
EV/Sales	5.48	5.81	5.6	5.19	4.54	4.01	—	3.28	2.06	1.91	2.12
Earnings yield	3.41%	2.61%	4.62%	2.84%	0.47%	5.09%	—	5.33%	—	11.9%	9.63%
FCF yield	6.92%	6.31%	5.99%	5.14%	6.05%	6.24%	—	6.36%	13.1%	18.4%	13.6%
PEG	—	—	—	—	—	—	—	—	—	—	0.63

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	50%	52.1%	51.8%	50.6%	51%	50.6%	50.2%	49%	48.3%	47%	47.4%
Operating margin	28.5%	30.2%	30%	22.2%	23.2%	23.4%	22.1%	21.2%	22.3%	22.3%	22.1%
Net margin	14.9%	11.9%	20.4%	11.7%	1.63%	15.1%	12.4%	11%	-23.9%	9.41%	10.2%
ROE	-94.2%	-42.5%	-64.7%	-124.2%	-5.73%	-50.1%	-33.4%	7.54%	-18.7%	6.96%	7.57%
ROA	9.32%	7.78%	14.4%	8.2%	1.27%	12.8%	11.2%	3.29%	-7.54%	2.96%	4.43%
ROIC	20.2%	16.3%	28.5%	17.6%	8.58%	27.3%	23.3%	6.48%	9.09%	6.87%	6.93%
Return on tangible assets	-49.9%	-50.3%	-83.5%	-26.3%	-5.06%	-54.8%	-43.4%	-4.71%	11.8%	-4.55%	-5%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.24	0.17	0.17	0.3	0.31	0.4	0.35	0.34	0.42	0.3	0.46
Quick ratio	0.23	0.16	0.16	0.3	0.3	0.4	0.35	0.34	0.42	0.3	0.46
Debt / equity	-7.38	-4.43	-3.79	-11.3	-3.92	-3.52	-2.93	0.85	0.94	0.84	0.81
Debt / assets	0.73	0.81	0.84	0.75	0.87	0.9	0.98	0.37	0.38	0.36	0.35
Net debt / EBITDA	3.28	3.42	3.29	3.66	3.66	3.45	3.59	4.33	3.79	3.78	3.65
Interest coverage	4.3	4.65	5.06	4.07	2.09	4.68	3.95	3.27	-2.76	3.3	3.58
Effective tax rate	31.7%	48.7%	17.2%	23.6%	69.5%	13.9%	24.8%	18.3%	0%	23.8%	24.2%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	10.2	11.7	12.9	17.3	18.6	21.4	25.9	26.4	25.7	25.3	25.5
EPS (basic)	1.5	1.4	2.6	2	0.3	3.2	3.22	2.91	-6.14	2.38	2.38
EPS (diluted)	1.5	1.4	2.6	2	0.3	3.2	2.96	2.77	-6.14	2.23	2.49
Book value per share	-1.61	-3.29	-4.07	-1.64	-5.28	-6.46	-9.66	38.6	32.8	34.2	35.3
FCF per share	3.08	3.38	3.42	3.67	3.85	3.96	4.48	3.48	3	3.68	4.53
Cash per share	0.44	0.15	0.12	0.24	0.16	0.47	0.16	0.9	0.48	0.28	0.52
Capex per share	0.42	0.62	0.8	0.81	0.81	0.96	1.23	1.92	2.15	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	4.1%	5.31%	6.15%	4.66%	4.35%	4.46%	4.73%	7.26%	8.37%	—	—
Capex / operating cash flow	12.8%	17.1%	18.8%	19.6%	39.8%	20.7%	21.6%	40.5%	-44.9%	—	—
Payout ratio	6.45%	29.3%	17.1%	24.7%	180.9%	20.4%	22.3%	6.58%	-6.89%	45.3%	43.4%
Dividend yield	0.22%	0.76%	0.79%	0.7%	0.86%	1.04%	—	0.35%	1.86%	5.4%	4.16%

Yield

4.16%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.27

ex-dividend Aug 10, 2026

Payout ratio

43%

of earnings

Dividend growth

2 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 10, 2026	$0.27
May 11, 2026	$0.27
Feb 11, 2026	$0.27
Nov 5, 2025	$0.27
Aug 8, 2025	$0.27
May 9, 2025	$0.27
Feb 7, 2025	$0.27
Nov 5, 2024

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$2.3B	$2.3B	$2.2B	$2.2B	$2.2B	$2.2B	$2.1B	$2.1B	$2.2B	$2.2B	$2.1B	$2.2B
YoY change	-0.39%	+0.22%	+0.84%	-3.2%	-4.4%	-4.37%	-4.35%	-1.84%	-0.55%	+0.23%	+1.11%	+1.03%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	213.9M	69M	54M	106M	71M	191M	57M	306M	162M	94M
Receivables	97.1M	90.8M	98M	532M	559M	626M	574M	616M	596M	671M
Inventory	20.4M	20.2M	22M	11M	10M	—	—	—	—	—
Total current assets	642.6M	470.9M	478M	1B	967M	1.2B	1B	1.4B	1.1B	1.1B
Property, plant & equipment	1.3B	1.4B	1.4B	2B	2B	1.7B	1.7B	1.9B	2.1B	2.3B
Goodwill & intangibles	9.5B	9.6B	9.6B	14.6B	12.9B	12.7B	12.6B	51B	45.2B	44.9B
Total assets	8B	8.3B	8.2B	11.1B	10.3B	10.3B	10B	30.1B	27.5B	27.2B
Accounts payable	713M	794.3M	736M	1.2B	1.2B	1.3B	1.2B	1.3B	1.3B	1.3B
Short-term debt	5.5M	5.1M	3M	48M	49M	49M	246M	1.1B	61M	1.1B
Total current liabilities	2.7B	2.8B	2.8B	3.3B	3.2B	3B	3B	4B	2.7B	3.7B
Long-term debt	5.8B	6.7B	6.9B	8.3B	8.9B	9.2B	9.6B	10.1B	10.3B	8.6B
Total liabilities	8.8B	9.9B	10B	11.9B	12.6B	12.9B	13.4B	17B	16.4B	15.7B
Shareholders' equity	-792M	-1.5B	-1.8B	-736M	-2.3B	-2.6B	-3.4B	13.1B	11.1B	11.6B
Total debt	5.8B	6.7B	6.9B	8.3B	9B	9.2B	9.8B	11.2B	10.4B	9.7B
Net debt	5.6B	6.7B	6.8B	8.2B	8.9B	9.1B	9.8B	10.8B	10.2B	9.6B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	53M	306M	71M	100M	127M	162M	127M	92M	79M	94M	75M	174M
Receivables	579M	616M	539M	553M	593M	596M	519M	571M	599M	671M	596M	627M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	1B	1.4B	1.1B	1.1B	1.1B	1.1B	1B	1B	1.1B	1.1B	1.1B	1.2B
Property, plant & equipment	1.9B	1.9B	2B	2.1B	2B	2.1B	2.2B	2.1B	2.2B	2.3B	2.3B	2.3B
Goodwill & intangibles	12.4B	51B	12.3B	12.2B	45.2B	45.2B	45.1B	45B	45B	44.9B	44.8B	44.8B
Total assets	10.1B	30.1B	11.2B	11.2B	27.5B	27.5B	27.4B	27.3B	27.4B	27.2B	27.1B	27.2B
Accounts payable	1.3B	1.3B	1.2B	1.1B	1.2B	1.3B	1.2B	1.2B	1.2B	1.3B	1.1B	1.2B
Short-term debt	570M	1.1B	551M	50M	589M	61M	61M	61M	1.1B	1.1B	59M	2M
Total current liabilities	3.2B	4B	3.1B	2.6B	3.1B	2.7B	2.5B	2.6B	3.5B	3.7B	2.4B	2.5B
Long-term debt	9.1B	10.1B	9B	9.3B	10.1B	10.3B	10.4B	10.1B	9B	8.6B	9.7B	9.5B
Total liabilities	13B	17B	13.5B	13.3B	16.6B	16.4B	16.2B	16B	15.8B	15.7B	15.4B	15.3B
Shareholders' equity	-2.9B	13.1B	-2.4B	-2.1B	10.9B	11.1B	11.2B	11.3B	11.6B	11.6B	11.7B	11.9B
Total debt	9.7B	11.2B	9.6B	9.4B	10.7B	10.4B	10.5B	10.2B	10.1B	9.7B	9.7B	9.5B
Net debt	9.6B	10.8B	9.5B	9.3B	10.6B	10.2B	10.3B	10.1B	10B	9.6B	9.7B	9.3B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	745.9M	648M	1.2B	914M	131M	1.3B	1.1B	988M	-2.1B	805M
Depreciation & amortization	269M	299M	301M	524M	562M	583M	660M	669M	622M	—
Stock-based compensation	108.6M	124M	133M	250M	223M	202M	209M	203M	200M	179M
Change in working capital	148.5M	23M	15M	-116M	-295M	-363M	-346M	-290M	-278M	-148M
Operating cash flow	1.6B	1.7B	1.9B	1.8B	879M	1.9B	2B	1.6B	-1.6B	1.9B
Capital expenditure	-205.8M	-288M	-355M	-363M	-350M	-388M	-426M	-650M	-728M	—
Investing cash flow	-210.1M	-1.1B	-379M	-3M	-741M	-200M	-493M	-696M	-970M	-94M
Dividends paid	-48.1M	-190M	-201M	-226M	-237M	-268M	-249M	-65M	-143M	-365M
Share repurchases	-1.7B	-1.4B	-1.3B	-2.2B	-1.6B	-1.5B	-647M	-274M	-6M	-136M
Financing cash flow	-1.4B	-855M	-1.5B	-2B	-1.3B	-3.5B	-3.9B	-2.9B	-916M	-1.2B
Net change in cash	-13.3M	-315M	-3M	-122M	-1.2B	-1.9B	-2.5B	-2B	-3.5B	585M
Free cash flow	1.5B	1.6B	1.5B	1.7B	1.7B	1.6B	1.6B	1.2B	1B	1.2B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	217M	352M	—	—	—	—	—	—	297M	99M	245M	239M
Depreciation & amortization	199M	159M	—	—	—	—	—	—	152M	151M	161M	175M
Stock-based compensation	64M	49M	—	—	—	—	—	—	43M	39M	54M	48M
Change in working capital	129M	-117M	—	—	—	—	—	—	-90M	-41M	16M	-5M
Operating cash flow	675M	467M	—	—	—	—	—	—	430M	680M	271M	722M
Capital expenditure	-188M	-130M	—	—	—	—	—	—	—	—	—	—
Investing cash flow	-11M	-136M	-180M	-23M	-26M	-13M	-46M	-17M	-16M	-15M	-68M	-22M
Dividends paid	140M	-102M	—	—	—	—	—	—	-91M	-91M	-91M	-91M
Share repurchases	-75M	0	—	—	—	—	—	—	-21M	-45M	-22M	-6M
Financing cash flow	-2.1B	-2B	—	—	—	—	—	—	545M	-506M	-117M	-1.2B
Net change in cash	-1.4B	-1.7B	-180M	-23M	-26M	-13M	-46M	-17M	959M	159M	86M	-528M
Free cash flow	312M	441M	—	—	—	—	—	—	255M	536M	166M	592M

Sirius XM Holdings Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history