Sirius XM Holdings Inc.SIRI
NasdaqGS•Communication Services•Entertainment
Sirius XM Holdings Inc. operates as an audio entertainment company in North America. It operates through two segments, Sirius XM, and Pandora and Off-platform. The Sirius XM segment provides music, sports, entertainment, comedy, and talk and news channels, as well as podcast and infotainment services on subscription fee basis; and live, curated, and exclusive and on demand programming services through satellite radio systems and streamed through applications for mobile and home devices, and other consumer electronic equipment. This segment also distributes satellite radios through automakers and retailers, as well as its website; offers advertising other ancillary services; sells radios and accessories; and offers location-based services through two-way wireless connectivity, including safety, security, convenience, maintenance and data, remote vehicles diagnostic, and stolen or parked vehicle locator services, as well as data services related to graphical weather and fuel prices. In addition, this segment provides music channels on the DISH Network satellite television service as a programming package; Travel Link, a suite of data services that include graphical weather, fuel prices, sports schedule and scores, and movie listings; graphic information related to road closings, traffic flow, and incident data for consumers with in-vehicle navigation systems; real-time weather services in vehicles, boats, and planes; music programming and commercial-free music services for office, restaurants, and other business; and wireless communications service. The Pandora and Off-platform segment operates music, comedy, and podcast streaming platform, which offers personalized experience for listener through mobile devices, vehicle speakers, and connected devices; and provides advertising services. The company was incorporated in 2013 and is headquartered in New York.
SiriusXM Holdings Inc. (SIRI) reported trailing twelve months revenue of $8.58B as of March 2026, a 0.3% decline year-over-year. Quarterly revenue reached $2.09B, reflecting a contraction in sales.
SiriusXM Holdings Inc. generated $846.00M in TTM net income, with quarterly EBITDA of $605.00M. The operating margin expanded from 18.7% to 21.7%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (21.7%) and net margin (11.7%) indicates moderate non-operating costs. Net margin has improved from 9.9% a year ago, signaling stronger bottom-line efficiency.
SIRI trades at a P/E of 10.9x (below the broader market average) and a P/S of 1.1x. The price-to-book ratio of 0.8x suggests the stock trades below its book value.
The company generated $166.00M in free cash flow over the trailing twelve months, a 213.2% increase year-over-year, indicating cash generation ability. The balance sheet shows $27.15B in total assets with $9.69B in long-term debt against $11.73B in stockholders equity for a debt-to-equity ratio of 0.8. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are under pressure, averaging 0.1%. The business may lack pricing power or face rising costs.'
ROE is low or negative, suggesting limited competitive advantage or capital allocation challenges.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
Data-driven red flags and warnings across 21 quarters
The company posted negative operating margins in recent quarters — core operations are unprofitable.
FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.
D/E ratio is 0.8 — conservative capital structure with low financial risk.
Revenue has softened, declining in 5 quarters. Monitor for further erosion.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares outstanding rose 4.8% — mild dilution. Compare to earnings growth to assess net per-share impact.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation