A Business at a Glance
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SIRIUS XM HOLDINGS INC.
SIRI
$10.8B
Mkt Cap
$29.80
-0.23%
SIRIUS XM HOLDINGS INC. (SIRI) has a current P/E ratio of 13.4, compared to its historical median P/E of 18.4. The stock is currently considered Fair based on its historical valuation range.
SIRIUS XM HOLDINGS INC. (SIRI) has a 5-year average return on invested capital (ROIC) of 11.9%. This indicates solid capital allocation.
SIRIUS XM HOLDINGS INC. (SIRI) has a market capitalization of $10.8B. It is classified as a large-cap stock.
Yes, SIRIUS XM HOLDINGS INC. (SIRI) pays a dividend with a trailing twelve-month yield of 3.39%. The company also returns capital through share buybacks, with a buyback yield of 1.26%.
Based on historical P/E analysis, SIRIUS XM HOLDINGS INC. (SIRI) appears fair. The current P/E of 13.4 is 27% below its historical median of 18.4. The estimated fair value CAGR (P/E method) is 13.7%.
SIRIUS XM HOLDINGS INC. (SIRI) operates in the Radio Broadcasting Stations industry, within the Communication Services sector.
SIRIUS XM HOLDINGS INC. (SIRI) reported annual revenue of $8.6 billion in its most recent fiscal year, based on SEC EDGAR filings.
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. The terms “Sirius XM Holdings,” “the Company,” “us,” “we” and “our” as used herein and unless otherwise stated or indicated by context, refer to Sirius XM Holdings Inc. and its subsidiaries. “SiriusXM” refers to Sirius XM Holdings’ wholly owned subsidiaries, Sirius XM Inc., Sirius XM Radio LLC and its subsidiaries, other than Pandora. “Pandora” refers to SiriusXM’s wholly owned subsidiary Pandora Media, LLC and its subsidiaries. Liberty Media Transactions 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”).
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 8.6B | 8.6B | 8.7B | 9.0B | 9.0B | 8.7B |
| Net Income | 805M | 805M | -1.7B | 1.3B | 1.2B | 1.3B |
| EPS | $2.23 | $2.23 | $-6.14 | $30.47 | $3.43 | $3.52 |
| Free Cash Flow | 1.2B | 1.2B | 1.0B | 1.2B | 1.6B | 1.6B |
| ROIC | 5.2% | 5.2% | -8.0% | 10.9% | 23.8% | 27.6% |
| Gross Margin | 52.4% | 52.4% | 53.1% | 53.5% | 54.6% | 54.9% |
| Debt/Equity | 0.86 | 0.86 | 0.97 | 1.14 | -2.93 | -3.52 |
| Dividends/Share | $1.01 | $1.01 | $0.53 | $1.09 | $0.70 | $0.72 |
| Operating Income | 1.5B | 1.5B | -1.5B | 1.8B | 1.9B | 2.0B |
| Operating Margin | 17.2% | 17.2% | -17.4% | 20.2% | 21.3% | 23.2% |
| ROE | 7.0% | 7.1% | -15.7% | 37.4% | -40.6% | -53.5% |
| Shares Outstanding | 361M | 361M | 271M | 41M | 354M | 373M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 4.2B | 4.6B | 5.0B | 5.4B | 5.8B | 7.8B | 8.0B | 8.7B | 9.0B | 9.0B | 8.7B | 8.6B | 8.6B |
| Gross Margin | 47.9% | 45.5% | 48.0% | 49.7% | 49.1% | 56.6% | 56.0% | 54.9% | 54.6% | 53.5% | 53.1% | 52.4% | 52.4% |
| R&D | 54M | 55M | 82M | 112M | 123M | 280M | 263M | 265M | 285M | 322M | 296M | 263M | 263M |
| SG&A | 294M | 325M | 341M | 335M | 354M | 524M | 511M | 514M | 563M | 608M | 497M | 549M | 549M |
| EBIT | 1.1B | 1.2B | 1.4B | 1.6B | 1.7B | 1.6B | 858M | 2.0B | 1.9B | 1.8B | -1.5B | 1.5B | 1.5B |
| Op. Margin | 26.8% | 25.8% | 28.5% | 30.2% | 29.9% | 21.1% | 10.7% | 23.2% | 21.3% | 20.2% | -17.4% | 17.2% | 17.2% |
| Net Income | 493M | 510M | 746M | 648M | 1.2B | 914M | 131M | 1.3B | 1.2B | 1.3B | -1.7B | 805M | 805M |
| Net Margin | 11.8% | 11.2% | 14.9% | 11.9% | 20.4% | 11.7% | 1.6% | 15.1% | 13.5% | 14.1% | -19.1% | 9.4% | 9.4% |
| Non-Recurring | 0 | -7.4M | -13M | 0 | 0 | 0 | 980M | 25M | 68M | 92M | 6.3B | 296M | 296M |
| Returns on Capital | |||||||||||||
| ROIC | 11.8% | 13.1% | 19.5% | 19.7% | 28.1% | 20.2% | 7.6% | 27.6% | 23.8% | 10.9% | -8.0% | 5.2% | 5.2% |
| ROE | 24.3% | 89.2% | -155.6% | -56.0% | -70.4% | -71.6% | -8.7% | -53.5% | -40.6% | 37.4% | -15.7% | 7.1% | 7.0% |
| ROA | 5.7% | 6.2% | 9.3% | 7.9% | 14.3% | 9.5% | 1.2% | 12.8% | 12.0% | 6.3% | -5.8% | 2.9% | 3.0% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 1.3B | 1.2B | 1.7B | 1.9B | 1.9B | 2.0B | 2.0B | 2.0B | 2.0B | 1.8B | 1.7B | 1.9B | 1.9B |
| Free Cash Flow | 1.1B | 1.1B | 1.5B | 1.6B | 1.5B | 1.7B | 1.7B | 1.6B | 1.6B | 1.2B | 1.0B | 1.2B | 1.2B |
| Owner Earnings | 909M | 939M | 1.4B | 1.5B | 1.5B | 1.4B | 1.4B | 1.4B | 1.4B | 1.2B | 1.1B | 1.3B | 1.3B |
| CapEx | 122M | 135M | 206M | 288M | 355M | 363M | 350M | 388M | 426M | 650M | 728M | 653M | 653M |
| Maint. CapEx | 266M | 221M | 220M | 261M | 278M | 327M | 354M | 379M | 399M | 425M | 445M | 422M | 422M |
| Growth CapEx | 0 | 0 | 0 | 27M | 77M | 36M | 0 | 9.0M | 27M | 225M | 283M | 231M | 231M |
| D&A | 266M | 221M | 220M | 261M | 278M | 327M | 354M | 379M | 399M | 425M | 445M | 422M | 422M |
| CapEx/OCF | 9.7% | 10.8% | 12.0% | 15.5% | 18.9% | 18.0% | 17.3% | 19.4% | 21.6% | 35.5% | 41.8% | 34.4% | 34.4% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 48M | 190M | 201M | 226M | 237M | 268M | 249M | 65M | 143M | 365M | 365M |
| Dividend Yield | N/A | N/A | 0.3% | 1.0% | 0.9% | 1.1% | 1.2% | 1.4% | 1.3% | 3.8% | 1.7% | 4.6% | 3.4% |
| Share Buybacks | 2.5B | 2.0B | 1.7B | 1.4B | 1.3B | 2.2B | 1.6B | 1.5B | 647M | 274M | 6.0M | 136M | 136M |
| Buyback Yield | 14.2% | 10.7% | 9.1% | 6.8% | 6.1% | 7.9% | 6.6% | 6.8% | 3.2% | 1.9% | 0.1% | 1.8% | 1.3% |
| Stock-Based Comp | 78M | 84M | 109M | 124M | 133M | 250M | 223M | 202M | 209M | 203M | 200M | 179M | 179M |
| Debt Repayment | 1.0B | 12M | 661M | 1.5B | 16M | 1.7B | 1.5B | 3.5B | 419M | 2.0B | 1.8B | 699M | 699M |
| Balance Sheet | |||||||||||||
| Net Debt | 4.3B | 5.3B | 5.6B | 6.7B | 6.8B | 8.2B | 8.9B | 9.1B | 9.5B | 11.2B | 10.6B | 9.9B | 9.9B |
| Cash & Equiv. | 148M | 112M | 214M | 69M | 54M | 106M | 71M | 191M | 362M | 306M | 162M | 94M | 94M |
| Long-Term Debt | 4.5B | 5.4B | 5.8B | 6.7B | 6.9B | 7.8B | 8.5B | 8.8B | 9.3B | 10.1B | 10.3B | 8.6B | 8.6B |
| Debt/Equity | 3.43 | -32.72 | -7.38 | -4.43 | -3.79 | -11.34 | -3.92 | -3.52 | -2.93 | 1.14 | 0.97 | 0.86 | 0.86 |
| Interest Coverage | 4.2 | 3.9 | 4.3 | 4.7 | 4.9 | 4.2 | 2.2 | 4.9 | 4.5 | 4.3 | -3.1 | 3.2 | 3.2 |
| Equity | 1.3B | -166M | -792M | -1.5B | -1.8B | -736M | -2.3B | -2.6B | -3.4B | 10.1B | 11.1B | 11.6B | 11.6B |
| Total Assets | 8.4B | 8.0B | 8.0B | 8.3B | 8.2B | 11.1B | 10.3B | 10.3B | 10.0B | 30.1B | 27.5B | 27.2B | 27.2B |
| Total Liabilities | 7.1B | 8.2B | 8.8B | 9.9B | 10.0B | 11.9B | 12.6B | -2.9B | -2.3B | 17.0B | 16.4B | 15.7B | 15.7B |
| Intangibles | 2.6B | 2.6B | 2.5B | 2.5B | 2.5B | 3.5B | 3.3B | 3.2B | 3.0B | 10.3B | 10.2B | 10.1B | 10.1B |
| Retained Earnings | -5.4B | -4.9B | -3.9B | -3.2B | -2.1B | -1.1B | -2.3B | -2.6B | -3.4B | 15.4B | 11.1B | 11.6B | 11.6B |
| Working Capital | -764M | -1.9B | -2.0B | -2.4B | -2.3B | -2.3B | -2.2B | -1.8B | -1.9B | -2.6B | -1.6B | -2.6B | -2.6B |
| Current Assets | 1.5B | 562M | 643M | 471M | 478M | 1.0B | 967M | 1.2B | 1.0B | 1.4B | 1.1B | 1.1B | 1.1B |
| Current Liabilities | 2.3B | 2.5B | 2.7B | 2.8B | 2.8B | 3.3B | 3.2B | 3.0B | 3.0B | 4.0B | 2.7B | 3.7B | 3.7B |
| Per Share Data | |||||||||||||
| EPS | 0.88 | 0.99 | 1.65 | 1.54 | 2.86 | 2.20 | 0.33 | 3.52 | 3.43 | 30.47 | -6.14 | 2.23 | 2.23 |
| Owner EPS | 1.62 | 1.82 | 3.08 | 3.50 | 3.57 | 3.47 | 3.63 | 3.80 | 3.88 | 29.09 | 4.04 | 3.59 | 3.59 |
| Book Value | 2.34 | -0.32 | -1.75 | -3.62 | -4.42 | -1.77 | -5.76 | -7.03 | -9.47 | 244.05 | 40.84 | 32.03 | 32.03 |
| Cash Flow/Share | 2.24 | 2.42 | 3.80 | 4.41 | 4.57 | 4.85 | 5.08 | 5.35 | 5.60 | 44.30 | 6.42 | 5.26 | 3.40 |
| Dividends/Share | 0.00 | 0.00 | 0.11 | 0.45 | 0.50 | 0.55 | 0.60 | 0.72 | 0.70 | 1.09 | 0.53 | 1.01 | 1.01 |
| Shares Out. | 560.5M | 514.9M | 452.1M | 420.8M | 411.2M | 415.5M | 397.0M | 373.3M | 353.7M | 41.3M | 271.2M | 361.0M | 361.0M |
| Valuation | |||||||||||||
| P/E Ratio | 35.7 | 37.1 | 24.6 | 31.8 | 18.3 | 30.0 | 179.5 | 17.2 | 16.7 | 18.4 | N/A | 9.2 | 13.4 |
| P/FCF | 14.2 | 15.5 | 11.0 | 12.0 | 12.9 | 15.1 | 12.8 | 12.7 | 11.8 | 1.8 | 5.9 | 6.0 | 8.6 |
| EV/EBIT | 15.6 | 15.9 | 12.7 | 12.5 | 12.5 | 16.6 | 27.3 | 11.1 | 10.0 | 8.4 | N/A | 5.7 | 14.0 |
| Price/Book | 13.5 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 1.4 | 0.5 | 0.6 | 0.9 |
| Price/Sales | 4.1 | 3.9 | 3.3 | 3.7 | 4.2 | 3.0 | 2.8 | 2.5 | 2.4 | 1.3 | 1.0 | 0.9 | 1.3 |
| FCF Yield | 6.4% | 5.9% | 8.2% | 7.6% | 7.1% | 6.0% | 7.1% | 7.1% | 7.7% | 8.2% | 16.9% | 16.7% | 11.6% |
| Market Cap | 17.6B | 18.9B | 18.4B | 20.6B | 21.6B | 27.4B | 23.5B | 22.6B | 20.2B | 14.5B | 6.0B | 7.4B | 10.8B |
| Avg. Price | 28.11 | 31.72 | 33.17 | 43.41 | 53.59 | 51.31 | 50.70 | 53.10 | 55.65 | 41.22 | 31.30 | 21.91 | 29.80 |
| Year-End Price | 28.60 | 33.35 | 36.96 | 44.55 | 47.69 | 60.01 | 53.85 | 54.94 | 51.69 | 50.98 | 22.04 | 20.60 | 29.80 |
SIRIUS XM HOLDINGS INC. passes 4 of 9 quality checks, suggesting mixed fundamentals.
SIRIUS XM HOLDINGS INC. trades at 13.4x trailing earnings, compared to its 15-year median P/E of 18.4x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 8.0x vs a median of 11.9x. The company's 5-year average ROIC is 11.9% with a gross margin of 53.7%. Total shareholder yield (dividends + buybacks) is 4.7%. At current prices, the estimated annualized return to fair value is -20.6%.
SIRIUS XM HOLDINGS INC. (SIRI) has a net profit margin of 9.4%. This is a modest margin.
SIRIUS XM HOLDINGS INC. (SIRI) generated $1.2 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
SIRIUS XM HOLDINGS INC. (SIRI) has a debt-to-equity ratio of 0.86. This indicates moderate leverage.
SIRIUS XM HOLDINGS INC. (SIRI) reported earnings per share (EPS) of $2.23 in its most recent fiscal year.
SIRIUS XM HOLDINGS INC. (SIRI) has a return on equity (ROE) of 7.1%. This indicates moderate shareholder returns.
SIRIUS XM HOLDINGS INC. (SIRI) has a 5-year average gross margin of 53.7%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 15 years of financial data for SIRIUS XM HOLDINGS INC. (SIRI), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
SIRIUS XM HOLDINGS INC. (SIRI) has a book value per share of $32.03, based on its most recent annual SEC filing.