SIRISIRIUS XM HOLDINGS INC.
Radio Broadcasting Stations
- Revenue
- $8.6B
- 1.6% YoY
- Operating margin
- 17.2%
- 199% YoY
- EBITDA
- $1.9B
- 277% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- 4.2×
- $7.9B net debt
- AI in 10-K
- —
Red flags 1 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear236% of net incomeCash flow under 80% of net income
- Dilutive SBCClear2% of revenueOver 10% of revenue
- Payouts exceed cash flowClear21% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyFired46% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $8.7B | $9.0B | $9.0B | $8.7B | $8.6B | 1.6% |
| Operating income | $2.0B | $1.9B | $1.8B | −$1.5B | $1.5B | 197% |
| Net income | $1.3B | $1.1B | $988M | −$2.1B | $805M | 139% |
| Operating cash flow | $2.0B | $2.0B | $1.8B | $1.7B | $1.9B | 9.0% |
| Capex | $388M | $426M | $650M | $728M | $653M | 10% |
| Stock-based comp | $202M | $209M | $203M | $200M | $179M | 11% |
| Buybacks | $1.5B | $647M | $274M | $6M | $136M | 2167% |
| Dividends | $268M | — | — | — | — |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $8M | $6M | 37 | 221 |
| FY2024 | $37M | $12M | 40 | 163 |
| FY2023 | $7M | $3M | 93 | 116 |
| FY2022 | $6M | $5M | 98 | 71 |
| FY2021 | $32M | $32M | 101 | 126 |