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Sonos Inc (SONO) stock

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NASDAQ: SONO Nasdaq Consumer Electronics Next results ~November 10, 2026

B+ Fundamentals grade

Sonos Inc is a US-listed company in the consumer electronics industry. Its financial year ends in September.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$8.8

Cash-flow model

Base case. Range ~$7.1–$11 across our lower- and higher-growth cases (-3%–7% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 44% below it.

Price used: $15.73, November 2, 2026

Sonos Inc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders5 buying, 3 selling17 purchases and 6 sales by directors and officers, last 12 monthsInsider trades
  • Funds146 adding, 138 cuttingOf 52 active managers that changed their stake, 28 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Sonos files

Where Sonos stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $1.49bn, up 5.6% on a year earlier, against a decline of 0.2% a quarter earlier. Free-cash-flow margin rose to 8.4% from 4.0% a year earlier. Operating margin widened to 4.4% from -6.1%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 3 of our 3 financial-health checks. Our cash-flow model value is $8.53 a share, against a share price of $17.50. At that price, our model says the market is pricing in about 17.1% a year of cash-flow growth for five years, faster than the -2.8% a year revenue growth it has delivered.

Source: 10-Q filed July 29, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 10, 2026 (estimated)

Sonos Inc's trailing-twelve-month revenue grew 5.6% year on year, with a free-cash-flow margin of 8.4%. Where it stands out: gross margin of 46.5% ranks 2 of 11 consumer electronics companies we cover.

Our discounted-cash-flow model values the business at ~$8.8 per share in the base case (~$7.1–$11 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Revenue growth accelerating: TTM revenue growth rose to 5.6% (+5.9pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Growth speeding up. The growth rate is 5.9 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 10.5 points on a year ago.
  • Net cash. Cash exceeds long-term debt by $0.2bn.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 22.0% over 90 days.

Things to watch

  • Results due soon. Results are expected around 4 November; the share price can move sharply on the day.
  • Priced above our value. The share price of $15.73 is 44% above our value per share of $9.
  • Volatile shares. Over the past year the shares showed annualised volatility of 47% and a beta of 1.1 against the S&P 500.
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 4.3% ranks 7 of 9 consumer electronics companies we cover (median 2.8%).
  • Heavily shorted. 20.3% of the shares available to trade are sold short (6.9 days of average volume to cover).
  • Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.

Latest results: FY2026 Q3

Filed July 29, 2026
Earnings per share
$0.27 against an average estimate of $0.20: beat by 35.0%
Revenue
$375m, up 8.8% on a year earlier
Share reaction
-14.1% in the first session after the results on July 29, 2026, against +0.1% for the S&P 500
Next report
November 10, 2026; average EPS estimate $0.05

Sonos' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-2.7%
  • 1 week-10.6%
  • 1 month-11.1%
  • This year-10.4%
  • 1 year-8.4%
  • 5 years-55.0%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.5B
Operating margin
4.4%
Net margin
3.8%
EPS (TTM, diluted)
$0.47

Growth

Revenue growth
+5.6%
Change in growth rate
+5.9 pts
Share count change
+0.7%

Cash

Free cash flow (TTM)
$125M
FCF margin
8.4%
Stock pay % of revenue
4.3%

Earnings

Last results
July 29, 2026
Next results (est.)
November 4, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Product
  2. Announcement
  3. Announcement
  4. Announcement
  5. Leadership
  6. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Sonos Inc valuation models and calculator

What the price is pricing in

The share price implies about 15.0% a year of cash-flow growth for five years.That is faster than the -2.8% a year revenue growth Sonos has delivered.

  • Priced in15.0%
  • Last 12 months5.6%
  • 3 years a year-3.7%
  • 5 years a year-2.8%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($15.88, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$8.8
Price used
$15.88close November 3, 2026
Implied change
▼ 44%
Uncertainty
Low

How we got here: a discounted-cash-flow model of Sonos Inc's free cash flow after stock-based pay with after-tax interest added back ($49.7M, FY2026 Q3 TTM), growing 4.7% and 2.9% in the next two years (forecasts, guidance and its record), then back to 2% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$7.0–~$11 ; that spread sets a 15% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Sonos Inc's free cash flow after stock-based pay ( $49.7M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Sonos Inc as an operating company, with every model that fits that kind of business. Cost of equity 10.9%: the 10-year Treasury yield (4.9%) plus a beta of 1.33 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$8.8 ~$7.1–$11 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: fewer than 5 peers with a usable multiple
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$0.7 ~$0.5–$1.2 Left out: out of range vs price (0.05x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity below long-run growth
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$8.8 ~$7.1–$11 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Sonos Inc with Consumer Electronics in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −23%
  • Revenue growth 5 points higher ▲ +30%
  • Free-cash-flow margin 1 point lower ▼ −11%
  • Last year's free-cash-flow margin change, if it persists ▲ +92%
  • Discount rate 1 point higher ▼ −14%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $8$10$13$16$21$27
8.5% $6$8$10$12$16$20
10% $5$7$8$10$13$16

Valuation multiples over time Market data may be delayed

At fiscal year end 20182019202020212022202320242025Now
Share price$16.04$13.51$15.50$32.26$13.90$12.91$12.15$15.30$15.73
Market value$1.1bn$1.4bn$1.7bn$4.5bn$1.9bn$1.6bn$1.5bn$1.8bn$1.9bn
+ Net debt (− = net cash)−$181m−$305m−$382m−$640m−$275m−$220m−$170m−$175m−$207m
Enterprise value$873m$1.1bn$1.3bn$3.9bn$1.6bn$1.4bn$1.3bn$1.7bn$1.7bn
Multiples
Price / sales 0.9x1.1x1.3x2.6x1.1x1.0x1.0x1.3x1.3x
Price / earnings ———28.5x28.4x———33.4x
Price / free cash flow —14.4x13.2x21.8x—32.9x11.1x17.1x15.2x
EV / EBITDA 28.6x26.0x143.6x20.6x12.8x50.3xn/m141.1x14.5x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

66 /100

Moderate moat

How hard Sonos's competitive advantage looks for rivals to wear away, judged from 9 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 29.3% of total assets over 8 years.

  • Pricing power 15 / 20

    Gross margin has been a median 44.1%, moving by 2.1 percentage points (standard deviation) across 9 years.

  • Durability 10 / 20

    Operating margin has been a median -0.4%; its worst year was -6.1%.

  • Cash conversion 10 / 20

    Free cash flow was positive in 7 of 9 years, at a median 4.2% of revenue.

  • Discipline 16 / 20

    The diluted share count fell 6.9% over five years; stock-based pay has been a median 4.3% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (71 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 10, 2026, after the close. Analysts expect revenue of $340m and EPS of $0.05 (range $0.05 to $0.05) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.22 +91% $1.5bn +6%
Next $1.30 +7% $1.6bn +7%

Next year's EPS estimate has moved +22.0% in 90 days, across 2 analysts.

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.20 $0.27 +35.0%
Mar 2026 $0.01 −$0.02 −300.0%
Dec 2025 $0.68 $0.93 +36.8%
Sept 2025 $0.05 −$0.06 −220.0%

Adjusted EPS as companies report it, against the average analyst estimate.

How our valuation uses these forecasts

Our cash-flow model grows Sonos Inc's revenue by +4.7% next year and +2.9% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+8.0%, weight 45%) and the company's own record (+2.0%, weight 55%) . How the weights are set.

Analyst recommendations

4 analysts, Oct 2026
Buy375%
Hold125%
Sell00%

Monthly trend

  1. Oct 2026314
  2. Sep 2026314

Counts of recommendations published by analysts covering Sonos Inc, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
20.3%
of tradable shares
Days to cover
6.87
at average volume
Short interest, 1 month
+28%
to September 30, 2026
Held by institutions
—
of shares
Held by insiders
1.9%
of shares
Employees
1,404
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months −8.4%

$17.17 on October 31, 2025 to $15.73

ThenNowEffect
Revenue (last 12 months) $1.4bn $1.5bn +5.6%
P/S multiple 1.5x 1.3x −12.6%
Share count 120m 121m −0.7%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +38.7%

$11.34 on November 3, 2023 to $15.73

ThenNowEffect
Revenue (last 12 months) $1.7bn $1.5bn −10.6%
P/S multiple 0.9x 1.3x +41.9%
Share count 132m 121m +9.3%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
SONO+27%−43%+1%−12%+17%−10%
Industry peers (median)−19%−49%−31%−42%−44%−24%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
SONO42%42%67%50%50%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
SONO−34%−55%−55%−43%−49%−30%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since August 2, 2018: 83% from April 15, 2021 to April 16, 2025. Getting back needed a 470% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$12.70 – $19.16
From 52-week high
−17.9%
vs 50-day average
−5.4%
vs 200-day average
+3.1%
Volatility (1 year)
47%
Beta vs S&P 500
1.09

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±7.4%
After a week
7 up, 5 down
typical move ±11.8%
After a month
8 up, 4 down
typical move ±15.7%
Results releasedNext dayS&P 500 next day5 days21 days
July 29, 2026 −14.1% +0.1% −5.2% −10.1%
May 4, 2026 −5.6% +0.4% +2.6% +5.9%
February 3, 2026 +4.9% −1.3% +17.6% +2.4%
November 5, 2025 −0.7% −0.7% +4.3% +16.7%
August 6, 2025 +1.0% +0.7% +23.2% +35.3%
May 7, 2025 +7.1% +1.1% +18.8% +9.2%
February 6, 2025 −2.7% −0.6% −7.6% −15.3%
November 13, 2024 −2.2% −0.6% −7.9% +3.6%
August 7, 2024 −5.4% +1.6% −10.0% −6.9%
May 7, 2024 −5.8% +0.1% −3.1% −11.2%
February 6, 2024 +21.8% +1.1% +14.7% +20.2%
November 15, 2023 +18.0% +0.3% +26.5% +51.1%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Sonos Inc’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Sonos Inc in five measures

Fundamentals grade B+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Sonos Inc
$1.4B $1.5B $1.6B $1.7B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $1.7B Revenue (TTM), FY24 Q1: $1.6B Revenue (TTM), FY24 Q2: $1.5B Revenue (TTM), FY24 Q3: $1.6B Revenue (TTM), FY24 Q4: $1.5B Revenue (TTM), FY25 Q1: $1.5B Revenue (TTM), FY25 Q2: $1.5B Revenue (TTM), FY25 Q3: $1.4B Revenue (TTM), FY25 Q4: $1.4B Revenue (TTM), FY26 Q1: $1.4B Revenue (TTM), FY26 Q2: $1.5B Revenue (TTM), FY26 Q3: $1.5B $1.5B

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $1.7B
FY24 Q1 $1.6B
FY24 Q2 $1.5B
FY24 Q3 $1.6B
FY24 Q4 $1.5B
FY25 Q1 $1.5B
FY25 Q2 $1.5B
FY25 Q3 $1.4B
FY25 Q4 $1.4B
FY26 Q1 $1.4B
FY26 Q2 $1.5B
FY26 Q3 $1.5B
Revenue growth, TTM YoY Sonos Inc
-15% -10% -5% 0% 5% 10% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: -5.5% Revenue growth, TTM YoY, FY24 Q1: -9.4% Revenue growth, TTM YoY, FY24 Q2: -7.3% Revenue growth, TTM YoY, FY24 Q3: -5.9% Revenue growth, TTM YoY, FY24 Q4: -8.3% Revenue growth, TTM YoY, FY25 Q1: -8.7% Revenue growth, TTM YoY, FY25 Q2: -5.2% Revenue growth, TTM YoY, FY25 Q3: -10.0% Revenue growth, TTM YoY, FY25 Q4: -4.9% Revenue growth, TTM YoY, FY26 Q1: -1.2% Revenue growth, TTM YoY, FY26 Q2: -0.2% Revenue growth, TTM YoY, FY26 Q3: 5.6% 5.6%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 -5.5%
FY24 Q1 -9.4%
FY24 Q2 -7.3%
FY24 Q3 -5.9%
FY24 Q4 -8.3%
FY25 Q1 -8.7%
FY25 Q2 -5.2%
FY25 Q3 -10.0%
FY25 Q4 -4.9%
FY26 Q1 -1.2%
FY26 Q2 -0.2%
FY26 Q3 5.6%
Operating margin (TTM) Sonos Inc
-10% -5% 0% 5% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: -1.2% Operating margin (TTM), FY24 Q1: -1.7% Operating margin (TTM), FY24 Q2: -2.6% Operating margin (TTM), FY24 Q3: -0.4% Operating margin (TTM), FY24 Q4: -3.2% Operating margin (TTM), FY25 Q1: -5.5% Operating margin (TTM), FY25 Q2: -4.8% Operating margin (TTM), FY25 Q3: -6.1% Operating margin (TTM), FY25 Q4: -3.5% Operating margin (TTM), FY26 Q1: 0.1% Operating margin (TTM), FY26 Q2: 2.2% Operating margin (TTM), FY26 Q3: 4.4% 4.4%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 -1.2%
FY24 Q1 -1.7%
FY24 Q2 -2.6%
FY24 Q3 -0.4%
FY24 Q4 -3.2%
FY25 Q1 -5.5%
FY25 Q2 -4.8%
FY25 Q3 -6.1%
FY25 Q4 -3.5%
FY26 Q1 0.1%
FY26 Q2 2.2%
FY26 Q3 4.4%
FCF margin (TTM) Sonos Inc
0% 5% 10% 15% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 3.0% FCF margin (TTM), FY24 Q1: 9.5% FCF margin (TTM), FY24 Q2: 9.9% FCF margin (TTM), FY24 Q3: 12.8% FCF margin (TTM), FY24 Q4: 8.9% FCF margin (TTM), FY25 Q1: 0.6% FCF margin (TTM), FY25 Q2: 4.4% FCF margin (TTM), FY25 Q3: 4.0% FCF margin (TTM), FY25 Q4: 7.5% FCF margin (TTM), FY26 Q1: 8.5% FCF margin (TTM), FY26 Q2: 8.1% FCF margin (TTM), FY26 Q3: 8.4% 8.4%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 3.0%
FY24 Q1 9.5%
FY24 Q2 9.9%
FY24 Q3 12.8%
FY24 Q4 8.9%
FY25 Q1 0.6%
FY25 Q2 4.4%
FY25 Q3 4.0%
FY25 Q4 7.5%
FY26 Q1 8.5%
FY26 Q2 8.1%
FY26 Q3 8.4%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2015 Oct 2015 2016 Oct 2016 2017 Sept 2017 2018 Sept 2018 2019 Sept 2019 2020 Oct 2020 2021 Oct 2021 2022 Oct 2022 2023 Sept 2023 2024 Sept 2024 2025 Sept 2025 LTM Jun 2026
Income
Revenue 844 901 993 1,137 1,261 1,326 1,717 1,752 1,655 1,518 1,443 1,490
Gross profit 382 403 456 489 527 572 810 796 716 689 631 693
EBITDA — 3 19 30 42 9 189 128 28 4 12 117
Operating income — −31 −16 −9 6 −27 155 90 −21 −48 −50 66
Net income −69 −38 −14 −16 −5 −20 159 67 −10 −38 −61 57
Diluted EPS — −$0.71 −$0.25 −$0.24 −$0.05 −$0.18 $1.13 $0.49 −$0.08 −$0.31 −$0.51 $0.47
Growth (year on year)
Revenue — +6.8% +10.1% +14.6% +10.9% +5.2% +29.4% +2.1% −5.5% −8.3% −4.9% +5.6%
EBITDA — — — — +38.2% −78.2% — −32.2% −77.8% — — —
Operating income — — — — — — — −42.2% −122.9% — — —
Net income — — — — — — — −57.5% −115.2% — — —
Diluted EPS — — — — — — — −56.6% −116.3% — — —
Margins
Gross margin 45.3% 44.8% 45.9% 43.0% 41.8% 43.1% 47.2% 45.4% 43.3% 45.4% 43.7% 46.5%
EBITDA margin — 0.4% 2.0% 2.7% 3.3% 0.7% 11.0% 7.3% 1.7% 0.3% 0.8% 7.8%
Operating margin — −3.4% −1.6% −0.8% 0.5% −2.1% 9.0% 5.1% −1.2% −3.2% −3.5% 4.4%
Net margin −8.2% −4.2% −1.4% −1.4% −0.4% −1.5% 9.2% 3.8% −0.6% −2.5% −4.2% 3.8%
Free-cash-flow margin — −1.0% 3.1% −0.5% 7.7% 9.7% 12.1% −4.3% 3.0% 8.9% 7.5% 8.4%
Cash flow
Cash from operations — 43 64 31 121 162 253 −28 100 190 137 147
Capital spending — 53 34 36 23 33 46 46 50 55 29 22
Free cash flow — −9 30 −5 97 129 208 −74 50 135 108 125
Stock-based pay — 26 37 39 47 58 62 76 77 84 82 63
Free cash flow after stock pay — −35 −6 −44 51 71 146 −150 −27 50 27 62
Balance sheet
Cash 76 75 131 221 339 407 640 275 220 170 175 207
Total debt 0 0 40 40 33 25 0 0 0 0 0 0
Net debt (negative = net cash) −76 −75 −91 −181 −305 −382 −640 −275 −220 −170 −175 −207
Diluted shares — 54m 56m 66m 104m 110m 140m 138m 128m 123m 121m 121m
Returned to shareholders
Buybacks — 0 10 1 2 50 50 150 100 129 81 116
Total returned — 0 10 1 2 50 50 150 100 129 81 116

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 3 checks passed · June 27, 2026
What it owns · $882m
Short-term assets $592mLonger-term assets $290m
What it owes, and who funded it · $882m
Short-term liabilities $367mLonger-term liabilities $112mShareholders' equity $404m
  • Short-term assets cover short-term liabilities $592m of assets due within a year against $367m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $592m short-term assets against $112m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Operating income of $66m against $459,000 of interest.

From Sonos Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q3 TTM
Buybacks (TTM)
$116M
Returned to shareholders
92%
of free cash flow
Buybacks, last 3 fiscal years
$310M
Diluted share count
+0.7%
year over year
Total shareholder yield
6.1%
dividends 0.0% + buybacks 6.1% of market value
R&D spending
17.0%
of revenue
Days sales outstanding
29 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in consumer electronics
Last 12 months unless stated SONO GPRO UEIC GRMN ZEPP ISPR Median
Revenue, last 12 months $1.5bn $569m $331m $7.9bn $259m $96m $96m
Revenue growth, last 12 months 5.6% −23.9% −17.9% 13.6% 41.8% −24.7% −17.9%
Revenue growth, 3-year average −3.7% −18.3% −12.1% 16.0% — −6.0% −4.8%
Revenue growth, latest quarter 8.8% −31.3% −25.0% 12.2% — 32.5% −7.6%
Gross margin 46.5% 27.7% 29.6% 61.1% 38.3% 12.8% 27.7%
Operating margin 4.4% −21.2% −0.8% 28.8% −11.3% −33.9% −12.0%
Operating margin, 3-year average −0.7% −15.4% −3.2% 26.1% −0.3% −24.3% −8.4%
Net margin 3.8% −27.6% −4.6% 25.6% −15.5% −34.6% −14.2%
Cash from operations / revenue 9.9% −3.5% 3.5% 23.9% −9.9% −0.6% −3.5%
Free-cash-flow margin 8.4% −4.1% 2.5% 18.6% −10.1% −0.9% −4.1%
Free-cash-flow margin, 3-year average 8.4% −7.0% 3.8% 19.6% −1.3% −7.0% −3.3%
Stock pay / revenue 4.3% 2.8% 0.9% 2.2% 1.0% 3.6% 2.5%
Change in share count 0.7% 5.0% 0.3% −0.1% −1.7% 0.8% 0.3%

Median of all 11 companies we cover in consumer electronics. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

11 consumer electronics companies
Measure Company Peer median Rank
Revenue growth Growth 5.6% -17.9% 4 of 11
Change in growth rate Growth +5.9pp -2.8pp 3 of 11
Gross margin Profitability 46.5% 27.7% 2 of 11
Operating margin Profitability 4.4% -11.3% 2 of 10
Net margin Profitability 3.8% -14.2% 2 of 11
Free-cash-flow margin Cash generation 8.4% -4.1% 2 of 11
Stock pay as % of revenue Cash generation 4.3% 2.8% 7 of 9
Change in share count Balance sheet 0.7% 0.3% 7 of 10
Days sales outstanding Balance sheet 29 days 53 days 3 of 10

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to September 27, 2025
Products and services
Line of business Revenue Share YoY
Sonos Speakers $1.1B 77.7% ▼ 4.1%
Sonos System Products $249M 17.3% ▼ 6.9%
Partner Products and Other Revenue $72.2M 5.0% ▼ 10.5%
Geography
Region Revenue YoY
Americas $923M ▼ 8.1%
United States $856M ▼ 8.0%
Outside the US $588M 0.0%
EMEA $441M ▲ 2.5%
Asia Pacific $79.2M ▼ 4.5%

These categories overlap or exclude eliminations, so shares aren't shown.

From Sonos Inc's 10-K filed November 14, 2025, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$1.6B
Institutions reporting
302
Shares held vs prior quarter
▲ 1.3%
Positions opened / closed
51 / 33

Top buyers and sellers, Q2 2026: 146 institutions bought and 138 sold ; the biggest buyer was First Eagle Investment Management, LLC (+1.4M shares) and the biggest seller Franklin Resources Inc (−1.0M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $248M 18.3M 15.1% ▲ 3.8%
Coliseum Capital Management, LLC $244M 18.1M 14.9% 0.0%
Vanguard Portfolio Management LLC $124M 9.2M 7.6% ▲ 5.3%
Vanguard Capital Management LLC $69.7M 5.2M 4.3% ▼ 1.3%
State Street Corp $64.8M 4.8M 4.0% ▲ 4.3%
Arrowstreet Capital, Limited Partnership $44.8M 3.3M 2.7% ▲ 0.1%
Geode Capital Management, LLC $42.6M 3.1M 2.6% ▲ 5.6%
Jacobs Levy Equity Management, Inc $41.9M 3.1M 2.6% ▲ 2.3%
Trigran Investments, Inc. $38.7M 2.9M 2.4% ▲ 15.0%
Dimensional Fund Advisors LP $35M 2.6M 2.1% ▲ 8.3%
Morgan Stanley $32.9M 2.4M 2.0% ▲ 1.2%
FMR LLC $29M 2.1M 1.8% ▲ 12.7%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Sonos Inc's complete shareholder register. Values are as reported by the filers ; 3 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $47.9M 17 trades by 5 insiders, last 12 months Insider sales History → $1.9M 6 trades by 3 insiders · 100% under pre-set plans
Net ▲ $46M net buying
Insider Date Trade Shares Price Value
Boone Karen Director September 25, 2026 Sell pre-set plan 15,000 $18.13 $271,950
Boone Karen Director September 25, 2026 Sell pre-set plan 31,766 $18.12 $575,600
Boone Karen Director September 1, 2026 Sell pre-set plan 10,000 $15.39 $153,900
Genachowski Julius Director July 29, 2026 Sell pre-set plan 19,855 $17.00 $337,535
Genachowski Julius Director July 28, 2026 Sell pre-set plan 19,855 $16.50 $327,608
Arabia Carmine Director May 6, 2026 Buy 50 $14.49 $724
Coliseum Capital Co-Invest Iv, L.P. 10% owner March 17, 2026 Buy 125,000 $13.57 $1.7M
Coliseum Capital Co-Invest Iv, L.P. 10% owner March 16, 2026 Buy 13,920 $13.25 $184,440
Coliseum Capital Co-Invest Iv, L.P. 10% owner March 13, 2026 Buy 90,000 $13.20 $1.2M
Coliseum Capital Management, Llc 10% owner March 11, 2026 Buy 180,000 $14.22 $2.6M
Coliseum Capital Management, Llc 10% owner March 10, 2026 Buy 320,000 $14.19 $4.5M
Coliseum Capital Management, Llc 10% owner March 9, 2026 Buy 420,000 $13.95 $5.9M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 3 trades and filings

No trades in Sonos Inc disclosed in the last 12 months; 3 earlier trades on record.

  • Julie Johnson(D-TX 32):Sale (full), $1,001 - $15,000, traded March 11, 2025, filed April 14, 2025
  • Justin Amash(MI):Purchase, $1,001 - $15,000, traded January 2, 2019, filed January 29, 2019
  • Justin Amash(MI):Purchase, $1,001 - $15,000, traded November 1, 2018, filed November 13, 2018

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 4, 2026 estimated from the company's past filing pattern, not announced

  • July 29, 2026
  • May 4, 2026
  • February 3, 2026
  • November 5, 2025
  • August 6, 2025
  • May 7, 2025

Recent SEC filings

Data status

When each part of this page on Sonos Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Sonos Inc in brief

What does Sonos Inc do?
Sonos Inc is a US-listed company in the consumer electronics industry. Its financial year ends in September.
What is Sonos Inc's stock ticker?
Sonos Inc trades under the ticker SONO on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Sonos Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Sonos Inc reported revenue of $1.5B, 5.6% higher than a year earlier, according to its SEC filings.
What is Sonos Inc's free cash flow?
Sonos Inc's free-cash-flow margin is 8.4% of revenue over the trailing twelve months, ranking 2 of the 11 consumer electronics companies we cover.
What is Sonos Inc's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Sonos Inc's free cash flow after stock-based pay gives ~$8.8 per share in the base case, and ~$7.1–$11 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Sonos Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Coliseum Capital Management, LLC and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Sonos Inc buying back stock, and does it pay a dividend?
Sonos Inc spent $116M on share repurchases over the trailing twelve months, and its diluted share count still rose 0.7% over the year.
What is Sonos Inc's market cap?
On November 2, 2026, Sonos Inc's market capitalisation was about $1.9B, with a price-to-earnings ratio of 33.4 and net debt of -$207M. Market figures come from third-party market data and may be delayed.
Who are Sonos Inc's competitors?
In our Consumer Electronics peer group, the companies closest to Sonos Inc are Gopro, Inc., Universal Electronics Inc, Garmin, Zepp Health Corp and Ispire Technology Inc. The side-by-side comparison below sets their revenue, margins and growth against Sonos Inc's.
Are insiders buying or selling Sonos Inc stock?
Over the last 12 months, Sonos Inc's directors and officers reported 17 open-market purchases and 6 sales on Form 4. The insider trading page charts every trade.
When is Sonos Inc's next earnings date?
Around November 10, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Sonos Inc announces its own schedule.