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STRZ

Starz Entertainment Corp.

STRZ

Starz Entertainment Corp. • NASDAQ
$10.97 ▲ 0.37% (+0.04)
Market Cap $183.54 M
52w High $22.98
52w Low $8.00
Dividend Yield 0%
P/E -0.65
Volume 34.41K
Outstanding Shares 16.73M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2026 $320.9M ▲ $355.7M ▲ $-52.6M ▼ -16.391% ▼ $-3.15 ▼ $11.9M ▼
Q1-2026 $319.7M ▼ $346.6M ▲ $-42.5M ▲ -13.294% ▲ $-2.54 ▼ $183.5M ▲
Q4-2025 $330.6M ▼ $337.1M ▲ $-153M ▼ -46.279% ▼ $2.02 ▲ $82.575M ▼
Q3-2025 $970.5M ▲ $280.7M ▼ $-22.2M ▲ -2.287% ▲ $-1.85 ▲ $533.5M ▲
Q2-2025 $948.6M $341.9M $-163.3M -17.215% $-13.6 $434.8M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2026 $37M ▼ $1.972B ▼ $1.309B ▼ $663.2M ▼
Q1-2026 $51.6M ▲ $2.092B ▼ $1.379B ▼ $712.3M ▼
Q4-2025 $17.8M ▼ $2.173B ▼ $1.407B ▼ $766.4M ▲
Q3-2025 $243.3M ▼ $7.167B ▲ $7.324B ▲ $-168.3M ▼
Q2-2025 $277.7M $7.147B $7.272B $-142.1M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2026 $-52.6M ▼ $-26.007M ▼ $-4.334M ▼ $15.786M ▲ $-14.6M ▼ $-31.236M ▼
Q1-2026 $-42.5M ▲ $65.4M ▲ $75.2M ▲ $-106.8M ▼ $33.8M ▲ $58.5M ▲
Q4-2025 $-153M ▼ $-63.5M ▲ $48.5M ▲ $18.6M ▼ $3.6M ▲ $-67.4M ▲
Q3-2025 $-22.2M ▲ $-112.312M ▼ $-8.737M ▲ $93.911M ▼ $-34.4M ▼ $-117.282M ▼
Q2-2025 $-163.3M $-82.376M $-15.137M $141.981M $48.6M $-91.605M

Revenue by Products

Product Q3-2020Q2-2025Q3-2025
Media Networks
Media Networks
 $380.00M ▲$350.00M ▼$340.00M ▼
Motion Picture
Motion Picture
 $470.00M ▲$410.00M ▼$310.00M ▼
Studio Business
Studio Business
 $0 ▲$-220.00M ▼$-90.00M ▲
Television Production
Television Production
 $190.00M ▲$420.00M ▲$400.00M ▼
Intersegment Eliminations
Intersegment Eliminations
 $-50.00M ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Starz has meaningful revenue, but profitability remains its key weakness. Sales grew steadily for several years, then dropped sharply in the most recent year, likely reflecting the business transition and spin-off timing rather than a pure collapse in demand. The company consistently generates solid gross profit on its content, which means the core service has economic value. However, operating profits have been thin and often negative, as content costs, marketing, and overhead eat up most of that margin. Net income has been negative for several years, with particularly heavy losses in the two years before the spin-off. The most recent loss is smaller than those peak-loss years, but Starz is still not earning its cost of capital. The story here is clear: a real business with loyal viewers, but still searching for a sustainable, profitable cost and growth model.

Balance Sheet

Balance Sheet The balance sheet shows a company that is asset‑light but highly constrained. Total assets have drifted down over time, and cash on hand is now very thin relative to the size of the business. Debt remains substantial. It is lower than its peak a couple of years ago, but still large compared with the company’s equity base. Equity even dipped into negative territory recently before recovering back into positive, though still modest, territory. That history points to past value erosion and limited cushion. Overall, leverage is high and financial flexibility looks tight. Starz does not appear to have a lot of room for error or big missteps in strategy, which could influence how aggressively it can invest in new content or international expansion.

Cash Flow

Cash Flow Cash flow has been inconsistent, mirroring the profit picture. The company has had years of positive operating cash generation, but also several years where cash burned meaningfully, especially during heavier investment or restructuring phases. Free cash flow has swung between modestly positive and clearly negative. On the positive side, capital spending needs are relatively light, which is typical for a content and distribution business rather than a heavy industrial company. Most cash volatility comes from earnings swings, working capital, and content spend decisions rather than big physical investments. The main takeaway: Starz has shown it *can* generate cash in good years, but the pattern is not yet reliable. Investors and lenders will be watching closely for a stretch of steady, positive free cash flow now that it is operating as a standalone entity.

Competitive Edge

Competitive Edge Starz holds a differentiated but narrower position in the streaming and premium TV landscape. Its identity rests on targeted, character‑driven series for women and diverse audiences, rather than trying to be everything for everyone. This niche focus creates loyalty in specific segments, even if its overall scale is smaller than giants like Netflix, Disney, or HBO. Its biggest competitive strengths are its recognizable franchises (such as the “Power” universe and “Outlander”), its curated movie catalog, and its multi‑channel distribution — available as a cable network, standalone app, and add‑on within larger platforms. These features help maintain relevance despite intense competition. However, Starz lacks the sheer financial firepower and global brand reach of the largest streamers. That makes it more vulnerable to content bidding wars, subscriber churn, and price pressure. Its best defense is continuing to deepen its niche and maintain must‑watch series that keep its core audience engaged.

Innovation and R&D

Innovation and R&D Innovation at Starz is less about cutting‑edge technology and more about smart content strategy and distribution. The company has deliberately focused on serving audiences that are often underrepresented in mainstream premium TV, which is a strategic choice rather than just a marketing slogan. On the technology and data side, it is leaning into improved audience measurement and analytics, including expanded work with Nielsen and experimentation with free, ad‑supported channels. Its app supports common modern features like offline viewing and live channels, which keeps it on par with consumer expectations. Looking forward, the separation from Lionsgate gives Starz more strategic freedom but also removes some shelter from a larger studio parent. Its innovation challenge will be to keep refreshing its slate of originals, expand thoughtfully into ad‑supported formats and international markets, and use partnerships to punch above its weight without overextending its balance sheet.

Summary

Starz is a recognizable brand with real audience loyalty and valuable franchises, but it is entering public markets as a standalone company with mixed financial health. On the positive side, it has a clear content identity, proven series that keep subscribers engaged, multiple distribution channels, and an asset‑light model that *can* produce good cash flow in the right conditions. Its targeted focus on underserved demographics gives it a differentiated angle in an overcrowded streaming field. On the risk side, the company is still loss‑making overall, has a history of volatile cash flow, carries meaningful debt, and holds limited cash reserves. It competes against much larger, better‑funded players who can outspend it on content and marketing. Going forward, the key questions will be whether Starz can: (1) stabilize and grow revenue after the recent step down, (2) turn its content strategy into consistent profitability, and (3) manage its leverage while still investing enough in new shows and channels to keep its niche strong. The business has a distinct place in the market, but its financial trajectory still needs to prove it can be both durable and sustainably profitable over time.

NEWS

November 13, 2025 · 4:05 PM UTC

Starz Entertainment Corp. Reports Results for the Third Quarter Ended September 30, 2025

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October 13, 2025 · 4:30 PM UTC

STARZ TO RELEASE THIRD QUARTER EARNINGS FOR CALENDAR 2025 AND HOLD ANALYST AND INVESTOR CONFERENCE CALL FOLLOWING MARKET CLOSE ON THURSDAY, NOVEMBER 13

Read more