SIRIUS XM HOLDINGS INC. SIRI

Communication services SIC 4832 - Radio Broadcasting Stations NAICS Information › Broadcasting and Content Providers › Radio and Television Broadcasting Stations › Radio Broadcasting Stations derived Nasdaq

This Annual Report on Form 10-K presents information for Sirius XM Holdings Inc., a Delaware corporation. Sirius XM Holdings Inc. is the product of a series of transactions that closed on September 9, 2024.

On September 9, 2024 at 4:05 p.m., New York City time, Liberty Media Corporation ("Liberty Media" or "Former Parent") completed its previously announced split-off (the "Split-Off") of its former wholly owned subsidiary, Liberty Sirius XM Holdings Inc. ("SplitCo"). The Split-Off was accomplished by Liberty Media redeeming each outstanding share of Liberty Media's Series A, Series B and Series C Liberty SiriusXM common stock (as defined in Part II, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations), par value $0.01 per share, in exchange for 0.8375 of a share of SplitCo common stock, par value $0.001 per share (the "Redemption"), with cash being paid to entitled record holders of Liberty SiriusXM common stock in lieu of any fractional shares of common stock of SplitCo.

Last close 27.63 2026-10-23
Market cap $9.31B 2026-06-30 share count
52-week range 19.77 - 32.66

Valuation FY2025 figures against the last close

P/S1.1x
P/E12.4x
P/FCF7.5x
EV/EBITDA4.9x
Dividend yield—
Diluted EPS2.23

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $8.56B$8.70B$8.95B$9.00B$8.70B$8.04B$7.79B$5.77B$5.42B$5.02B
Cost of revenue ————————$35.4M$40.9M
Gross profit $4.49B$4.62B$4.79B$4.92B$4.77B$4.50B$4.41B—$5.39B$4.98B
R&D $263.0M$296.0M$322.0M$285.0M$265.0M$263.0M$280.0M$123.0M$112.0M$82.1M
SG&A $549.0M$497.0M$608.0M$563.0M$514.0M$511.0M$524.0M$354.0M$335.0M$341.1M
Total operating expenses $7.09B$10.22B$7.14B$7.08B$6.68B$7.18B$6.15B$4.04B$3.78B$3.59B
Operating income $1.47B-$1.52B$1.81B$1.92B$2.02B$858.0M$1.65B$1.73B$1.64B$1.43B
Interest expense $459.0M$496.0M$534.0M$503.0M$415.0M$394.0M$390.0M$350.0M$346.0M$331.2M
Pre-tax income $1.06B-$1.86B$1.21B$1.49B$1.53B$430.0M$1.20B$1.42B$1.26B$1.09B
Income tax $251.0M$210.0M$222.0M$368.0M$212.0M$299.0M$283.0M$245.0M$616.0M$345.7M
Net income $805.0M-$2.08B$988.0M$1.12B$1.34B$131.0M$914.0M$1.18B$648.0M$745.9M
EPS, basic 2.38-6.142.913.220.320.030.200.260.140.15
EPS, diluted 2.23-6.142.772.960.320.030.200.260.140.15
Shares, diluted (wtd. avg.) 357.0M338.0M362.0M368.0M4.14B4.43B4.62B4.56B4.72B4.96B

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $94.0M$162.0M$306.0M$370.0M$606.0M$71.0M$106.0M$54.0M$69.0M$214.0M
Receivables $671.0M$596.0M$616.0M$574.0M$626.0M$559.0M$532.0M$98.0M$90.8M$97.1M
Inventory —————$10.0M$11.0M$22.0M$20.2M$20.4M
Total current assets $1.10B$1.15B$1.36B$1.04B$1.18B$967.0M$1.00B$478.0M$470.9M$642.6M
Property, plant and equipment $2.26B$2.11B$1.79B$1.50B$1.45B$1.63B$1.63B$1.51B$1.46B$1.40B
Goodwill $12.39B$12.39B$15.21B$15.21B$3.15B$3.12B$3.84B$2.29B$2.29B$2.21B
Other intangibles $10.06B$10.19B$10.31B$3.05B$3.19B$3.34B$3.47B$2.50B$2.52B$2.54B
Total assets $27.24B$27.52B$30.06B$10.02B$10.27B$10.33B$11.15B$8.17B$8.33B$8.00B
Total current liabilities $3.65B$2.73B$3.95B$2.98B$2.98B$3.17B$3.29B$2.80B$2.82B$2.67B
Total liabilities $15.67B$16.45B$16.95B$13.37B$12.90B$12.62B$11.88B$9.99B$9.85B$8.80B
Retained earnings $11.61B$11.12B$15.35B-$3.35B-$2.64B-$2.29B-$1.14B-$2.06B-$3.24B-$3.89B
Total equity $11.56B$11.07B$13.10B$12.37B$13.13B-$2.29B-$736.0M-$1.82B-$1.52B-$792.0M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $1.90B$1.74B$1.83B$1.98B$2.00B$2.02B$2.02B$1.88B$1.86B$1.72B
Depreciation and amortisation $422.0M$445.0M$425.0M$399.0M$379.0M$354.0M$327.0M$278.0M$261.0M$220.4M
Stock-based compensation $179.0M$200.0M$203.0M$209.0M$202.0M$223.0M$250.0M$133.0M$124.0M$108.6M
Capital expenditure $653.0M$728.0M$650.0M$426.0M$388.0M$350.0M$363.0M$355.0M$288.0M$205.8M
Investing cash flow -$747.0M-$970.0M-$696.0M-$493.0M-$200.0M-$741.0M-$3.0M-$379.0M-$1.15B-$210.1M
Financing cash flow -$1.22B-$916.0M-$1.19B-$1.72B-$1.68B-$1.31B-$1.96B-$1.51B-$854.0M-$1.41B
Dividends paid ————$268.0M$237.0M$226.0M$201.0M$190.0M$48.1M
Buybacks $136.0M$6.0M$274.0M$647.0M$1.52B$1.55B$2.16B$1.31B$1.41B$1.67B

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-041777.

Plot the figures US dollars

  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -5B 0 5B 10B Revenue, FY2016: 5B Gross profit, FY2016: 5B Net income, FY2016: 745.9M Revenue, FY2017: 5.4B Gross profit, FY2017: 5.4B Net income, FY2017: 648M Revenue, FY2018: 5.8B Net income, FY2018: 1.2B Revenue, FY2019: 7.8B Gross profit, FY2019: 4.4B Net income, FY2019: 914M Revenue, FY2020: 8B Gross profit, FY2020: 4.5B Net income, FY2020: 131M Revenue, FY2021: 8.7B Gross profit, FY2021: 4.8B Net income, FY2021: 1.3B Revenue, FY2022: 9B Gross profit, FY2022: 4.9B Net income, FY2022: 1.1B Revenue, FY2023: 9B Gross profit, FY2023: 4.8B Net income, FY2023: 988M Revenue, FY2024: 8.7B Gross profit, FY2024: 4.6B Net income, FY2024: -2.1B Revenue, FY2025: 8.6B Gross profit, FY2025: 4.5B Net income, FY2025: 805M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $5.02B $5.42B $5.77B $7.79B $8.04B $8.70B $9.00B $8.95B $8.70B $8.56B
Gross profit $4.98B $5.39B — $4.41B $4.50B $4.77B $4.92B $4.79B $4.62B $4.49B
Net income $745.9M $648.0M $1.18B $914.0M $131.0M $1.34B $1.12B $988.0M -$2.08B $805.0M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Officer or director change Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Other event Item 8.01
  • Other event Item 8.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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