SONO
Sonos, Inc.
SONO's fundamentals are strong: its operating margin went from −6.1% to 4.4% and free cash flow more than doubled. Its PE isn't a useful guide right now because of how its recent earnings were reported.
SONO Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Strong |
SONO's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
SONO PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 21x | $9.83 | -46% |
| Current | 25x | $18.11 | — |
| Fair | 34x | $15.43 | -15% |
| Expensive | 148x | $67.98 | +275% |
Historical ranges are pointers, not guarantees.
SONO's PE is 25x, but its earnings don't support one, so it isn't a reliable read right now.
SONO Forward outlook
There aren't enough analyst estimates for SONO to show an outlook.
SONO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $0.46 | +$1.09 |
| Q1 2026 | $0.18 | +$0.75 |
| Q4 2025 | -$0.16 | +$0.39 |
| Q3 2025 | -$0.51 | -$0.20 |
| Q2 2025 | -$0.63 | -$0.49 |
| Q1 2025 | -$0.57 | -$0.22 |
| Q4 2024 | -$0.55 | -$0.52 |
| Q3 2024 | -$0.31 | -$0.21 |
SONO has returned to profit: it earned $0.46 per share over the past year, after losing money the year before.
SONO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $375.3M | +8.8% |
| Q1 2026 | $281.5M | +8.4% |
| Q4 2025 | $545.7M | -0.9% |
| Q3 2025 | $287.9M | +13% |
| Q2 2025 | $344.8M | -13% |
| Q1 2025 | $259.8M | +2.8% |
| Q4 2024 | $550.9M | -10% |
| Q3 2024 | $255.4M | -16% |
SONO's revenue is recovering but still below its 2022 peak: $375M last quarter, up 8.8% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 8.4% | +9.3 points |
| Q1 2026 | -11% | +12 points |
| Q4 2025 | 18% | +9.7 points |
| Q3 2025 | -12% | +15 points |
| Q2 2025 | -0.8% | -4 points |
| Q1 2025 | -24% | +4.5 points |
| Q4 2024 | 8.7% | -4.3 points |
| Q3 2024 | -27% | -18 points |
SONO's operating margin was 8.4% last quarter, up 9.3 points from the same quarter a year ago.
SONO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $40.3M | +23% |
| Q1 2026 | -$70.2M | -$4.9M |
| Q4 2025 | $157.3M | +10% |
| Q3 2025 | -$2.3M | +$51.2M |
| Q2 2025 | $32.7M | -19% |
| Q1 2025 | -$65.2M | +$56.2M |
| Q4 2024 | $143.1M | -47% |
| Q3 2024 | -$53.5M | -546% |
SONO still generates free cash flow, though less than at its 2023 peak: $125M over the past year.
SONO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.6% | +773K shares |
| 1 year | +0.5% | +559K shares |
| 3 years | -5.7% | -7.3M shares |
| 5 years | -16% | -23.2M shares |
| Available history | +17% | +17.2M shares |
SONO has 121M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | $30.2M |
| Q1 2026 | $40.1M |
| Q4 2025 | $25M |
| Q3 2025 | $20.4M |
| Q2 2025 | — |
| Q1 2025 | $33.4M |
| Q4 2024 | $27.2M |
| Q3 2024 | $279,000 |
SONO spent $116M buying back its own shares over the past year, up 90% from the year before.
SONO Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | -1.8x | Net Cash |
| Q1 2026 | -2.3x | Net Cash |
| Q4 2025 | -5.2x | Net Cash |
| Q3 2025 | -14.7x | Net Cash |
| Q3 2024 | -39.2x | Net Cash |
| Q2 2024 | -5.4x | Net Cash |
| Q1 2024 | -29.4x | Net Cash |
| Q4 2023 | -20.7x | Net Cash |
SONO has more cash than debt.
SONO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 61.6 | Neutral |
| Stochastic | 58.7 | Neutral |
SONO's weekly RSI is 62 (neutral) and its Stochastic is 59 (neutral).
SONO PE vs Technology Sector
| Metric | SONO | Sector median | Relative |
|---|---|---|---|
| PE | 25x | 28x | 9.7% below |
| PE % | 33 | 35 | 2 pts below |
SONO is trading at 25x earnings, in line with the Technology sector's median of 28x, though its earnings don't support one.
SONO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $17.3 | 4.4% above |
| 20 week MA | $16.0 | 13% above |
| 50 week MA | $15.6 | 16% above |
| 100 week MA | $14.3 | 27% above |
| 200 week MA | $14.9 | 21% above |
SONO has climbed back above all five of its weekly moving averages, and it's now 21% above its 200-week average.
SONO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $15.0 | $24.4 | +63% |
| 2021 | $24.4 | $29.9 | +22% |
| 2022 | $29.9 | $17.0 | -43% |
| 2023 | $17.0 | $17.1 | +0.8% |
| 2024 | $17.1 | $15.0 | -12% |
| 2025 | $15.0 | $18.1 | +20% |
| 2026 YTD | $18.1 | $18.1 | +0.2% |
SONO has finished higher in four of the last six years. It's roughly flat so far in 2026.