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Runs satellite radio subscription service SiriusXM plus the ad-supported Pandora streaming music and podcast platform.
Runs satellite radio subscription service SiriusXM plus the ad-supported Pandora streaming music and podcast platform.
Earns mainly from monthly subscriptions paid by listeners, most of them signed up through new-car trials at dealerships, so car sales and the share of trial users who convert matter more than marketing. Pandora adds advertising revenue from its free streaming service. In 2024 it merged with Liberty Sirius XM Holdings, the company through which Liberty Media had held its controlling stake.
Moat: narrow (installed base, regulatory licence, distribution). The sole US satellite radio licence and deep OEM factory-install relationships create a durable, if maturing, subscriber base.
Headquarters: New York, New York, US · Founded: 1990 · Employees: 5,119
Size SiriusXM (SIRI) is a United States Communication Services company (Broadcasting) with a market value of $10.9B, the 738th largest of 3,117 United States companies the cockpit tracks. Shares closed at $32.40 on 6 Nov 2026.
Performance Over six months the shares gained 19.6%, against -0.5% for the median peer and -1.1% for the United States market (cap-weighted) — highest of 7 in its peer set.
Growth Revenue grew 0.5% over the last twelve months (peer median +8.5%); the operating margin is 22.4% (peer median 15.5%).
Valuation It trades at 10.4× forward earnings against a peer median of 12.5× (2nd cheapest of 7).
Price implies For today's price to make sense, revenue must grow about 0% a year for seven years (Req g). Recent delivered growth is +1%, so the hurdle is -2 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.6 points below its cost of capital (7.8% WACC).
Credit SiriusXM has 2 bonds outstanding ($1.05B).
Short interest Short interest is 9.0% of the free float (15 Oct 2026).
Next results Next results expected around 4 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $8.60B | $8.56B | $8.70B | $8.95B | $9.00B |
| Revenue growth | — | -2% | -3% | -1% | — |
| Gross profit | $3.46B | $3.44B | $3.58B | $3.71B | $3.95B |
| EBITDA | $2.59B | $2.50B | $2.56B | $2.59B | $2.69B |
| Net income | $900M | $805M | -$1.67B | $786M | $1.21B |
| Free cash flow | $1.58B | $1.25B | $1.01B | $1.18B | $1.55B |
| Capital expenditure | $545M | $653M | $728M | $650M | $426M |
| Total debt | $9.32B | $9.71B | $10.4B | $11.2B | $9.82B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| SiriusXM SIRI | $10.9B | +20% | +1% | 22% | 10.4× | -0.4% |
| Spotify Technology SPOT | $124B | +44% | +17% | 15% | 37.4× | 29.4% |
| Apple AAPL | $4.98T | +17% | +15% | 33% | 36.8× | 19.0% |
| Amazon AMZN | $2.80T | -5% | +15% | 13% | 26.3× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | SIRI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +23.1% | +0.2% | highest of 7 |
| 6-month return | +19.6% | -0.5% | highest of 7 |
| Distance from 52-week high | -4.0% | -18.8% | highest of 7 |
| Revenue growth (TTM) | +0.5% | +8.5% | lowest of 7 |
| Operating margin | 22.4% | 15.5% | 3rd highest of 7 |
| Forward P/E | 10.4× | 12.5× | 2nd cheapest of 7 |
| Growth the price implies (Req g, 7 yrs) | -0.4% | -1.0% | 3rd least demanding of 5 |
| Growth delivered (Del g) | +1.3% | +3.1% | 2nd lowest of 5 |
| Hurdle (Req g minus delivered) | -1.7 pp | -4.1 pp | 3rd least demanding of 5 |
| ROIC minus cost of capital | -0.6 pp | -0.6 pp | 4th highest of 7 |
| EV / EBITDA | 7.7× | 8.8× | 3rd cheapest of 7 |
| Net debt / EBITDA | 3.5× | 0.3× | 3rd most indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| SiriusXM SIRI | United States | $10.9B | +20% | +1% | 22% | 10.4× | -0.4% | +1.3% |
| Nexstar Media NXST | United States | $5.85B | -6% | +11% | 18% | 6.2× | 5.5% | +1.9% |
| Tbs 9401.T | Japan | $5.81B | +8% | +5% | 5% | 18.1× | n/a | n/a |
| Nippon Television 9404.T | Japan | $4.57B | -3% | +3% | 13% | 12.9× | -7.5% | +4.4% |
| Fox Corporation (Class A) FOXA | United States | $26.4B | +6% | +9% | 23% | 11.8× | -9.8% | +5.8% |
| Fuji Media 4676.T | Japan | $3.62B | +2% | +9% | 3% | 12.1× | n/a | n/a |
| SKY Perfect JSAT 9412.T | Japan | $3.13B | -50% | +8% | 30% | 17.2× | 6.2% | -1.8% |
SiriusXM has 2 bonds outstanding with $1.05B face value.