Sirius XM Holdings
SIRINASDAQUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $32.24 Prior regular-session close from the quote source.
- $31.62–$32.27 Regular-session low and high so far today.
- 2.7M Regular-session shares traded · Nov 11, 4:00 PM ET.
- Feb 4 projected Projected for 2027-02-04 from the company’s own results filings (SEC 8-K Item 2.02). The company has not confirmed the date.
- $19.77–$33.76 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own SIRI if you believe Sirius XM’s mature radio-broadcasting business can stay a cash-generative franchise while stabilizing revenue and using cash flow to reduce balance-sheet risk.
SIRI price history
Loading recent earnings…
Investment thesis
What must happen next
Annual revenue stops contracting and returns to at least flat-to-positive growth over the next fiscal-year cycle.HoldingMateriality: High
Next annual or trailing-twelve-month revenue is flat or up year over year after the 2022-2025 decline. This is a load-bearing condition for Sirius Xm Holdings's investment case.
Watch: Another annual revenue decline, especially a drop greater than 2% year over year.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Next annual or trailing-twelve-month revenue is flat or up year over year after the 2022-2025 decline.
Open source ↗Gross profit stabilizes, showing that any revenue stabilization is not being bought through margin-eroding pricing or cost pressure.HoldingMateriality: High
Gross profit grows year over year or gross margin expands in the next annual report. This is a load-bearing condition for Sirius Xm Holdings's investment case.
Watch: Gross profit falls below the 2025 level or declines faster than revenue.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Gross profit grows year over year or gross margin expands in the next annual report.
Open source ↗The 2025 operating-income rebound proves durable rather than a one-year recovery from the 2024 loss.HoldingMateriality: Medium
Operating income remains positive and rises year over year in the next fiscal-year print. This is a load-bearing condition for Sirius Xm Holdings's investment case.
Watch: Operating income drops materially from 2025 or returns to an operating loss.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Operating income remains positive and rises year over year in the next fiscal-year print.
Open source ↗Sirius XM continues to generate enough operating cash flow to make the equity case about cash durability rather than accounting earnings alone.HoldingMateriality: Medium
Annual operating cash flow stays above $1.8 billion or grows year over year. This is a load-bearing condition for Sirius Xm Holdings's investment case.
Watch: Annual operating cash flow falls below $1.5 billion.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Annual operating cash flow stays above $1.8 billion or grows year over year.
Open source ↗Balance-sheet risk declines because liabilities continue to come down without exhausting the already small cash balance.HoldingMateriality: Medium
Liabilities decline year over year while cash remains positive and not materially lower. This is a load-bearing condition for Sirius Xm Holdings's investment case.
Watch: Liabilities rise year over year or cash falls below $50 million.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Liabilities decline year over year while cash remains positive and not materially lower.
Open source ↗
Full investment case & evidence
Loading the original research archive…
Original research
Annual revenue stops contracting and returns to at least flat-to-positive growth over the next fiscal-year cycle. This is a load-bearing condition for Sirius Xm Holdings's investment case.
Gross profit stabilizes, showing that any revenue stabilization is not being bought through margin-eroding pricing or cost pressure. This is a load-bearing condition for Sirius Xm Holdings's investment case.
The 2025 operating-income rebound proves durable rather than a one-year recovery from the 2024 loss. This is a load-bearing condition for Sirius Xm Holdings's investment case.
Sirius XM continues to generate enough operating cash flow to make the equity case about cash durability rather than accounting earnings alone. This is a load-bearing condition for Sirius Xm Holdings's investment case.
Balance-sheet risk declines because liabilities continue to come down without exhausting the already small cash balance. This is a load-bearing condition for Sirius Xm Holdings's investment case.
All standing thesis claims
Original report summary
you believe Sirius XM’s mature radio-broadcasting business can stay a cash-generative franchise while stabilizing revenue and using cash flow to reduce balance-sheet risk.
Bull case and bear case
Bull case and bear case for Sirius Xm Holdings
Where the evidence on Sirius Xm Holdings stands: Holding on the latest evidence (Oct 15, 2026). Of its 5 thesis points, 5 holding.
Bull case: what the evidence supports
Annual revenue stops contracting and returns to at least flat-to-positive growth over the next fiscal-year cycle.
Gross profit stabilizes, showing that any revenue stabilization is not being bought through margin-eroding pricing or cost pressure.
The 2025 operating-income rebound proves durable rather than a one-year recovery from the 2024 loss.
Sirius XM continues to generate enough operating cash flow to make the equity case about cash durability rather than accounting earnings alone.
Balance-sheet risk declines because liabilities continue to come down without exhausting the already small cash balance.
Thesis-Break Engine
What has broken in Sirius Xm Holdings’s thesis
Each break OptimistFi flagged on Sirius Xm Holdings, dated — with what has historically followed the same kind of break across the market, not a forecast for Sirius Xm Holdings.
- CEO / officer changecondition set before this filing
Across all companies, this kind of break has happened 16,849 times before. Those stocks trailed comparable companies by a median of 2% over the next six months, and 38% of them trailed it by 10 points or more.
MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedReported results of operations (earnings release).
Sirius Xm Holdings filed an SEC 8-K on 2026-07-30: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
- MixedDirector or principal officer change.
Sirius Xm Holdings filed an SEC 8-K on 2026-07-30: Director or principal officer change. It is a dated development that tests the current thesis.
- MixedDirector or principal officer change.
Sirius Xm Holdings filed an SEC 8-K on 2026-06-01: Director or principal officer change. It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- Another annual revenue decline, especially a drop greater than 2% year over year.
- Gross profit falls below the 2025 level or declines faster than revenue.
- Operating income drops materially from 2025 or returns to an operating loss.
- Annual operating cash flow falls below $1.5 billion.
- Liabilities rise year over year or cash falls below $50 million.
SIRI news
Loading headlines…
Financial statements
SIRI income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
SIRI: quick answers
- When does Sirius Xm Holdings (SIRI) report earnings next?
- Sirius Xm Holdings's next results are projected for February 4, 2027, from the dates of its own results filings with the SEC. The company has not confirmed the date. It last reported on October 29, 2026. Earnings calendar
- What is SIRI's short interest?
- As of October 30, 2026, 30.0M SIRI shares were sold short, 8.90% of its shares outstanding, down 1.5% from the count before. At the stock's average daily volume that is 6.9 days to cover. FINRA publishes the count twice a month. SIRI short interest history
- Which well-known investors own SIRI?
- 2 of the 37 well-known funds tracked here reported SIRI shares in their latest 13F filings. By share of the fund's portfolio: Berkshire Hathaway (Warren Buffett), 1.2%; Bridgewater Associates (Ray Dalio), 0.0%. Fund portfolios
SIRI in well-known investors’ portfolios
2 of 37 funds reported SIRI shares in their latest 13F filing. A 13F shows quarter-end positions and arrives up to 45 days later.
| Fund | Of its portfolio | Value | Change | Quarter |
|---|---|---|---|---|
| Warren BuffettBerkshire Hathaway | 1.2% | $3.7B | No change | Q2 2026 |
| Ray DalioBridgewater Associates | 0.02% | $4.4M | +62.4% | Q2 2026 |