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Sirius XM Holdings (SIRI)
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Sirius XM Holdings Income Statement 2025-2007 | SIRI
Brief overview of financial results at Sirius XM Holdings
The conclusions below are based on five years of reported results. The revenue attributed to Sirius XM Holdings moved from $8 billion to $8.6 billion between the two endpoints. The total change was +6.4%, with a CAGR of approximately 1.3%. The business did not achieve meaningful top-line expansion.
At the gross-profit level, the result moved from $4.5 billion to $4.5 billion, a change of −0.4%. Gross margin moved from 56% to 52.4%. The margin decline reflects a less favorable sales-and-cost structure.
EBITDA changed from $1.2 billion to $1.9 billion (+56.2%). The operating result outpaced sales and points to improving efficiency. EBITDA margin was 15.1% at the start and 22.1% at the end. A wider margin confirms stronger operating efficiency.
Over the period, net income shifted from $131 million to $805 million (+514.5%). Revenue converted into net income more efficiently.
The market value of the business moved from $25.2 billion to $7.7 billion, or −69.6%. The market has not yet confirmed the improvement in fundamentals.
Financial takeaway
Signs of deterioration dominate the five-year picture. The constructive conclusion rests on higher operating efficiency and a stronger final result. The main areas of concern are a weaker market valuation, a softer top-line trend and weaker gross profitability. The key question is whether sales can be converted into sustainable profit.
Annual Income Statement Sirius XM Holdings
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
7.65 B | 7.78 B | 1.76 B | 1.83 B | 25 B | 25.2 B | 32.4 B | 26.4 B | 27.6 B | 23.4 B | 19.9 B | 20.6 B | 22.4 B | 13.3 B | 7.6 B | 37.3 B | 12.6 B | 55.1 B | - |
Shares |
338 M | 338 M | 339 M | 347 M | 4.06 B | 4.33 B | 4.5 B | 4.46 B | 4.64 B | 4.92 B | 5.38 B | 5.79 B | 6.23 B | 4.21 B | 3.74 B | 3.69 B | 3.59 B | 2.17 B | - |
Historical Prices |
22.6 | 23 | 5.19 | 5.27 | 6.16 | 5.82 | 6.25 | 5.8 | 6.1 | 4.91 | 3.58 | 3.74 | 3.47 | 2.94 | 2.13 | 10.1 | 3.5 | 25.4 | 28.8 |
Net Income |
805 M | -2.08 B | 988 M | 1.12 B | 1.31 B | 131 M | 914 M | 1.18 B | 648 M | 746 M | 510 M | 493 M | 377 M | 3.47 B | 427 M | 43.1 M | -352 M | -5.32 B | - |
Revenue |
8.56 B | 8.7 B | 8.95 B | 9 B | 8.7 B | 8.04 B | 7.79 B | 5.77 B | 5.43 B | 5.02 B | 4.57 B | 4.18 B | 3.8 B | 3.4 B | 3.01 B | - | - | - | - |
Cost of Revenue |
- | - | - | - | - | - | 3.38 B | - | - | - | - | - | - | - | - | - | - | - | - |
Gross Profit |
4.49 B | 4.62 B | 4.79 B | 4.92 B | 4.77 B | 4.5 B | 4.37 B | 3.46 B | 3.32 B | 3.02 B | 2.73 B | 2.57 B | 2.4 B | 2.17 B | 1.89 B | - | - | - | - |
Operating Income |
1.47 B | -1.52 B | 1.81 B | 1.92 B | 2.02 B | 858 M | 1.65 B | 1.73 B | 1.64 B | 1.43 B | 1.18 B | 1.12 B | 1.04 B | 872 M | 676 M | 465 M | 228 M | -5.04 B | - |
Interest Expense |
44 M | 136 M | 423 M | 422 M | 415 M | 394 M | 390 M | 350 M | 346 M | 331 M | 299 M | 269 M | 205 M | 265 M | 305 M | 296 M | 316 M | 148 M | - |
EBITDA |
1.89 B | -1.07 B | 2.23 B | 2.32 B | 2.39 B | 1.21 B | 2.2 B | 2.03 B | 1.94 B | 1.7 B | 1.45 B | 1.39 B | 1.3 B | 1.14 B | 1.38 B | 739 M | 538 M | -4.83 B | - |
Operating Expenses |
- | - | - | - | - | - | 2.64 B | 1.74 B | 1.68 B | 1.59 B | 1.55 B | 1.45 B | 1.36 B | 1.3 B | 783 M | - | - | - | - |
General and Administrative Expenses |
549 M | 497 M | 608 M | 563 M | 514 M | 511 M | 524 M | 357 M | 334 M | 341 M | 325 M | 294 M | 262 M | 262 M | 239 M | 241 M | 228 M | 213 M | - |
All numbers in USD currency
Quarterly Income Statement Sirius XM Holdings
| 2026-Q2 | 2026-Q1 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | 2010-Q3 | 2010-Q2 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
337 M | 336 M | 337 M | 338 M | 339 M | 339 M | 339 M | 338 M | 337 M | 3.84 B | 337 M | 3.86 B | 3.89 B | 3.89 B | 3.9 B | 3.93 B | 3.95 B | 3.97 B | 4.04 B | 4.08 B | 4.14 B | 4.17 B | 4.33 B | 4.37 B | 4.4 B | 4.41 B | 4.45 B | 4.57 B | 4.57 B | 4.35 B | 4.47 B | 4.48 B | 4.49 B | 4.53 B | 4.62 B | 4.65 B | 4.71 B | 4.74 B | 4.87 B | 4.94 B | 5.07 B | 5.15 B | 5.3 B | 5.44 B | 5.57 B | 5.65 B | 5.63 B | 5.87 B | 6.09 B | 6.1 B | 6.18 B | 6.35 B | 6.26 B | 5.26 B | 4.03 B | 3.77 B | 3.77 B | 3.75 B | 3.75 B | 3.74 B | 3.74 B | 3.69 B | 3.68 B |
Net Income |
239 M | 245 M | 297 M | 205 M | 204 M | - | -2.46 B | 304 M | 199 M | - | 234 M | 310 M | 233 M | - | 247 M | 292 M | 309 M | - | 995 M | 433 M | 219 M | -677 M | 272 M | 243 M | 293 M | 243 M | 246 M | 263 M | 162 M | 251 M | 343 M | 292 M | 290 M | -37 M | 276 M | 202 M | 207 M | 205 M | 194 M | 175 M | 172 M | 135 M | 167 M | 103 M | 106 M | 143 M | 136 M | 120 M | 94 M | 65.2 M | 62.9 M | 126 M | 124 M | 156 M | 74.5 M | 3.13 B | 108 M | 71.3 M | 104 M | 173 M | 78.1 M | 67.6 M | 15.3 M |
Revenue |
2.16 B | 2.09 B | 2.16 B | 2.14 B | 2.07 B | - | 2.17 B | 2.18 B | 2.16 B | - | 2.27 B | 2.25 B | 2.14 B | - | 2.28 B | 2.25 B | 2.19 B | - | 2.2 B | 2.16 B | 2.06 B | 2.19 B | 2.02 B | 1.87 B | 1.95 B | 2.06 B | 2.01 B | 1.98 B | 1.74 B | 1.5 B | 1.47 B | 1.43 B | 1.38 B | 1.4 B | 1.38 B | 1.35 B | 1.29 B | 1.3 B | 1.28 B | 1.24 B | 1.2 B | 1.2 B | 1.17 B | 1.12 B | 1.08 B | 1.09 B | 1.06 B | 1.04 B | 998 M | 1 B | 962 M | 940 M | 897 M | 892 M | 867 M | 838 M | 805 M | 784 M | 763 M | 744 M | 724 M | - | - |
Cost of Revenue |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 968 M | 884 M | 866 M | 850 M | 916 M | 870 M | 872 M | 739 M | -572 M | -565 M | -637 M | -535 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Gross Profit |
1.14 B | 1.1 B | 1.13 B | 1.12 B | 1.08 B | - | 1.16 B | 1.17 B | 1.14 B | - | 1.23 B | 1.2 B | 1.13 B | - | 1.25 B | 1.22 B | 1.21 B | - | 1.21 B | 1.19 B | 1.13 B | - | 1.14 B | 1.02 B | 1.11 B | - | 1.14 B | 1.1 B | 1 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Operating Income |
472 M | 454 M | 493 M | 365 M | 387 M | - | -2.9 B | 471 M | 409 M | - | 528 M | 479 M | 412 M | - | 467 M | 496 M | 510 M | - | 628 M | 658 M | 254 M | -503 M | 478 M | 415 M | 468 M | 399 M | 476 M | 439 M | 333 M | 459 M | 482 M | 362 M | 424 M | 397 M | 434 M | 416 M | 394 M | 330 M | 392 M | 362 M | 348 M | 294 M | 352 M | 219 M | 314 M | 294 M | 294 M | 285 M | 247 M | 245 M | 285 M | 268 M | 247 M | 213 M | 232 M | 228 M | 199 M | 154 M | 184 M | 173 M | 164 M | 143 M | 126 M |
Interest Expense |
-48 M | -16 M | 10 M | 15 M | -1 M | - | 28 M | 85 M | 29 M | - | -51 M | 107 M | 107 M | - | 107 M | 104 M | 103 M | - | 111 M | 103 M | 100 M | - | 96 M | 102 M | 99 M | - | 104 M | 97 M | 90 M | - | 86 M | 86 M | 90 M | - | 92.6 M | 82.8 M | 81.7 M | - | 89.1 M | 83.4 M | 78.4 M | - | 76.6 M | 75.4 M | 69.9 M | - | 75.4 M | 67.5 M | 54.1 M | - | 54.6 M | 49.7 M | 46.2 M | - | 70 M | 72.8 M | 77 M | - | 75.3 M | 76.2 M | 78.2 M | 68.6 M | 76.8 M |
EBITDA |
606 M | 574 M | 603 M | 455 M | 500 M | - | -2.79 B | 596 M | 526 M | - | 624 M | 582 M | 511 M | - | 562 M | 592 M | 606 M | - | 725 M | 751 M | 348 M | -503 M | 566 M | 501 M | 562 M | 399 M | 556 M | 520 M | 413 M | 459 M | 552 M | 431 M | 490 M | 397 M | 506 M | 478 M | 459 M | 330 M | 448 M | 417 M | 403 M | 294 M | 422 M | 287 M | 379 M | 294 M | 359 M | 352 M | 316 M | 245 M | 477 M | 402 M | 314 M | 213 M | 431 M | 361 M | 265 M | 154 M | 385 M | 308 M | 233 M | 350 M | 265 M |
General and Administrative Expenses |
136 M | 122 M | 119 M | 166 M | 122 M | - | 138 M | 116 M | 124 M | - | 139 M | 157 M | 147 M | - | 132 M | 127 M | 123 M | - | 125 M | 130 M | 121 M | - | 131 M | 119 M | 107 M | - | 124 M | 120 M | 135 M | - | 86 M | 92 M | 85 M | - | 83.2 M | 84.6 M | 78.2 M | - | 90.4 M | 81.2 M | 77.5 M | - | 67.2 M | 72.1 M | 79.8 M | - | 75.2 M | 72.6 M | 76.2 M | - | 67.9 M | 60.4 M | 56.3 M | - | 68.2 M | 65.7 M | 59.9 M | - | 58.6 M | 60.5 M | 56.4 M | 54.2 M | 59.2 M |
All numbers in USD currency
The income statement is one of the three key financial reports of a company Sirius XM Holdings (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.