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Maker of wireless multi-room smart speakers and home theater/audio systems sold direct and through retailers.
Maker of wireless multi-room smart speakers and home theater/audio systems sold direct and through retailers.
Earns almost entirely from hardware sold through retailers, installers and its own website, so purchases come in steps as customers add rooms to a Sonos system; there is little subscription income. In 2024 a rebuilt app drew user complaints and delayed product launches.
Moat: narrow (brand, network effects, installed base). Strong premium audio brand and a multi-room ecosystem that locks customers into add-on purchases.
Headquarters: Santa Barbara, California, US · Founded: 2002 · Employees: 1,404
Size Sonos (SONO) is a United States Consumer Discretionary company (Electronics/Appliances) with a market value of $1.94B, the 1815th largest of 3,117 United States companies the cockpit tracks. Shares closed at $16.41 on 6 Nov 2026.
Performance Over six months the shares gained 9.0%, against -9.7% for the median peer and -1.1% for the United States market (cap-weighted) — 6th highest of 21 in its peer set.
Growth Revenue grew 5.6% over the last twelve months (peer median +2.7%); the operating margin is 6.3% (peer median 7.8%).
Valuation It trades at 149.2× forward earnings against a peer median of 17.9× (2nd most expensive of 18).
Price implies For today's price to make sense, revenue must grow about 17% a year for seven years (Req g). Recent delivered growth is +2%, so the hurdle is +16 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 22.8 points above its cost of capital (14.3% WACC).
Backlog Backlog (remaining performance obligations) was $80.5M at 27 Jun 2026, down 3% on a year earlier — 0.1 years of trailing revenue. Backlog detail →
Short interest Short interest is 10.6% of the free float (15 Oct 2026).
Next results Next results expected around 10 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.49B | $1.44B | $1.52B | $1.66B | $1.75B |
| Revenue growth | — | -5% | -8% | -6% | — |
| Gross profit | $693M | $634M | $687M | $716M | $796M |
| EBITDA | $144M | $50.7M | $23.6M | $77.0M | $151M |
| Net income | $56.9M | -$61.1M | -$38.1M | -$10.3M | $67.4M |
| Free cash flow | $124M | $108M | $135M | $50.1M | -$75.4M |
| Capital expenditure | $21.9M | $28.7M | $55.2M | $50.3M | $46.2M |
| Total debt | $56.8M | $59.6M | $64.1M | $56.1M | $36.1M |
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 |
|---|---|---|---|---|---|---|
| Sonos SONO | $1.94B | +9% | +6% | 6% | 149.2× | 17.3% |
| Apple AAPL | $4.98T | +17% | +15% | 33% | 36.8× | 19.0% |
| Amazon AMZN | $2.80T | -5% | +15% | 13% | 26.3× | n/a |
| Sony 6758.T | $156B | +33% | +1% | 13% | 18.7× | 3.4% |
| SamsungElec 005930.KS | $886B | -14% | +88% | 46% | 4.0× | -7.2% |
| Yamaha 7951.T | $3.39B | +7% | +5% | 8% | 15.8× | -1.7% |
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 | SONO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.2% | -2.7% | 11th highest of 21 |
| 6-month return | +9.0% | -9.7% | 6th highest of 21 |
| Distance from 52-week high | -17.2% | -30.1% | 6th highest of 21 |
| Revenue growth (TTM) | +5.6% | +2.7% | 10th highest of 21 |
| Operating margin | 6.3% | 7.8% | 9th lowest of 21 |
| Forward P/E | 149.2× | 17.9× | 2nd most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | 17.3% | 3.7% | 3rd most demanding of 15 |
| Growth delivered (Del g) | +1.7% | +8.5% | 3rd lowest of 15 |
| Hurdle (Req g minus delivered) | +15.6 pp | -4.9 pp | most demanding of 15 |
| ROIC minus cost of capital | +22.8 pp | +1.8 pp | 5th highest of 21 |
| EV / EBITDA | 12.0× | 8.9× | 3rd most expensive of 7 |
| Net debt / EBITDA | -1.4× | 1.1× | 3rd least indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Sonos SONO | United States | $1.94B | +9% | +6% | 6% | 149.2× | 17.3% | +1.7% |
| Spectrum Brands SPB | United States | $1.99B | +6% | +1% | 9% | 17.1× | -2.5% | +1.4% |
| Whirlpool WHR | United States | $2.01B | -32% | -6% | 2% | n/a | n/a | n/a |
| Tatung 2371.TW | Taiwan | $1.70B | -15% | +8% | 4% | 10.0× | n/a | n/a |
| Hangzhou Robam Appliances 002508.SZ | China | $2.28B | -10% | -18% | 8% | 14.4× | 6.3% | +4.5% |
| Shanghai Flyco Electrical Appliance 603868.SS | China | $2.34B | +4% | +1% | 17% | 24.2× | 4.6% | +1.5% |
| Theon International THEON.AS | Netherlands | $2.36B | -10% | +32% | 23% | 17.1× | 18.7% | +52.2% |
| Edifier Technology 002351.SZ | China | $1.60B | +8% | -1% | 18% | 22.3× | 3.0% | +7.6% |
| Cowell e 1415.HK | Hong Kong | $2.38B | -33% | +15% | 7% | 9.8× | -10.3% | +36.2% |
| Sichuan Jiuzhou Electric 000801.SZ | China | $1.58B | -19% | +20% | 3% | 45.1× | n/a | n/a |
| Electrolux ELUX-A.ST | Sweden | $2.50B | +11% | -3% | -1% | 18.1× | 1.2% | +2.6% |
| Shenzhen Newway Photomask Making 688401.SS | China | $1.45B | -27% | +18% | 26% | 17.9× | 23.6% | +23.7% |
| IMAX IMAX | United States | $2.61B | +35% | +15% | 23% | 18.8× | 12.2% | +24.5% |
| OneRobotics (Shenzhen) 6600.HK | Hong Kong | $1.41B | -55% | +48% | -9% | n/a | n/a | n/a |
| Gettop Acoustic 002655.SZ | China | $1.39B | -19% | +11% | 2% | n/a | n/a | n/a |
| Tamron 7740.T | Japan | $1.39B | +22% | +2% | 17% | 15.3× | 5.9% | +12.0% |
| Guangdong Xinbao Electrical Appliances 002705.SZ | China | $1.38B | -25% | -4% | 4% | 24.3× | -2.7% | +4.2% |
| Casio Computer 6952.T | Japan | $2.74B | +24% | +12% | 11% | 15.9× | 0.2% | +4.0% |
| Guangdong TCL Smart Home Appliances 002668.SZ | China | $1.37B | -12% | +4% | 12% | 8.4× | -18.7% | +17.4% |
| Kingclean Electric 603355.SS | China | $2.79B | +4% | -2% | 8% | 35.9× | 4.4% | +9.4% |
| Joyoung 002242.SZ | China | $2.87B | +131% | -7% | -1% | 159.7× | n/a | n/a |
Sonos reported $80.5M of remaining performance obligations at 27 Jun 2026, down 3% from a year earlier and down 18% from the previous quarter. That is 0.1 years of trailing revenue already under contract. Book-to-bill last quarter: 0.95.