Sirius XM operates almost exclusively in the US through its SiriusXM and Pandora audio services. SiriusXM is primarily a satellite radio service that offers nationwide coverage and mostly ad-free listening, with proprietary channels and exclusive content.
It is a $8.94B communication services company. Revenue grew 0.4% over the last year, it keeps 10¢ of every dollar of sales as profit, and its net debt equals ~6.2 years of free cash flow. It trades at 10.2× earnings — in the cheapest third of its own history.
- Website
- siriusxm.com
- Location
- New York, NY
- Employees
- 5 119
- Sector
- Communication Services
- Founded
- 2013
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong valuation and quality; Growth and Health lag behind.
Valuation95
- P/E vs own history25th pct · 20/25
- FCF yield17.3% · 25/25
- P/S1.0x · 25/25
- EV/EBITDA8.1x · 25/25
Growth45
- Revenue CAGR-0.4% · 0/25
- Net income CAGR-11.5% · 0/25
- EPS CAGR ~5Y137.9% · 25/25
- Fwd implied growth20.7% · 20/25
Profitability50
- ROIC3.8% · 5/25
- ROE7.5% · 5/25
- Net margin10.2% · 20/25
- Operating margin19.1% · 20/25
Health18
- Altman Z1.17 · 3/25
- Current ratio0.46 · 0/25
- Interest coverage3.3x · 10/25
- Net cash / debtD/A 35% · 5/25
Quality85
- Piotroski F6/9 · 15/25
- Beneish M-3.05 · 25/25
- FCF conversion176% · 25/25
- Margin stabilityσ 5.3% · 20/25
Moat51
- ROIC >12% years7/10 yrs · 20/25
- Median gross margin22.2% · 6/25
- FCF-positive years10/10 yrs · 25/25
- Worst-year net marginworst -19.1% · 0/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- FY2021FinancialBest year on record$1.31B net income
- Feb 1, 2019MilestoneThe company agreed to purchase the streaming music service Pandora
- FY2016FinancialFirst recorded profitable year$746M net income
- FY2016FinancialRevenue already above $1B$5.02B in first reported year
- FY2016FinancialPositive free cash flow every year since10-year streak
- May 21, 2013FoundedSiriusXM Holdings, Inc. was incorporated, and in January 2020, SiriusXM reorganized their corporate…
- Jul 29, 2008AcquisitionFederal Communications Commission (FCC) approved the merger of XM Satellite Radio Holdings Inc
- 2004AcquisitionMel Karmazin, former president of Viacom, became CEO in November 2004 and remained in that position through the…
- Feb 14, 2002ProductHaving secured installation deals with automakers, including BMW, Chrysler and Ford, Sirius launched the initial…
- 2000MilestoneMargolese renamed the company CD Radio, and spent the next five years lobbying the FCC to allow satellite radio to…
- 1997ProductAfter Margolese had obtained regulatory clearance and "effectively created the industry", the FCC also…
- 1992MilestoneAMSC established a unit called the American Mobile Radio Corporation, dedicated to developing a…
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (52.2%)
- Strong cash conversion — FCF is 18.0% of revenue
Watch-outs
- Altman Z-Score 1.17 — elevated financial-distress risk
- Net debt would take ~6.1 years of free cash flow to repay
- Loss-making in 1 of the recent years
- Net debt equals ~6.2 years of free cash flow
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+0.4% YoY
- Profitable — makes more than it spends$880M TTM
- Profit growing — earnings are higher than last year-9.5% YoY
- Generates cash — cash left after running and investing$1.55B TTM
- Debt under control — could handle its obligations~6.2y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$8.94B market cap
- Not printing shares — share count not ballooning — you keep your slice-91.9% shares over ~5y
- Proven track record — years of profitability behind it9/10 profitable years
- Financially stable — balance sheet not near distressAltman Z 1.2 — distress
- Pays a dividend — returns cash to shareholdersyield 4.07%
- Valuation not extreme — price not wildly above earningsP/E 10.2
Peer comparisonSirius XM Holdings, Inc vs 6 largest communication services peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| SIRI this company | $8.9B | 10.2 | +0.4% | 10.2% | Strained |
| VZ Verizon Communications | $173.7B | 10.6 | +1.4% | 11.6% | Strained |
| TMUS T-Mobile US, Inc. | $159.6B | 15.1 | +9.7% | 11.5% | Strained |
| T AT&T Inc. | $152.3B | 7.1 | +2.6% | 16.9% | Strained |
| WBD Warner Bros. Discovery, Inc. Series A | $77.6B | 106.6 | -6.1% | -8.8% | Strained |
| CMCSA Comcast Corp | $73.4B | 6.5 | +0.6% | 9.0% | Strained |
| ECHO EchoStar Corporation | $27.7B | — | -5.2% | -38.7% | Mixed |
Head-to-head: SIRI vs VZ · SIRI vs TMUS · SIRI vs T
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/SIRI
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of SIRI on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $26.51 · market cap $8.94B.