Forensic Analysis · Radio Broadcasting · as of Nov 9, 2026
Sirius Xm Holdings Inc. (SIRI)
A forensic read on Sirius Xm Holdings Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
B · Sound & dependable
Forensic grade
Grey Zone
Financial health
1.9
Distress distance
Clean
Earnings quality
2
Forensic signals
7.1%
ROE
-1.6%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Sirius Xm Holdings Inc. earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 1.9, placing it in the Grey zone. 2 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
4.6%
FY2025
Return on invested capital.Return on invested capital is 4.6% in the latest fiscal year, against 5.5% in FY2023, having run between -4.6% and 5.5% across FY2023–FY2025 with no direction held. After-tax operating profit was $1.5B in FY2023 and $1.1B in FY2025, with operating income at 20.2% of revenue in FY2023, -17.4% in FY2024 and 17.2% in FY2025. The capital base behind it went from $26.9B in FY2023 to $24.6B in FY2025 (-8%), while the revenue it carried went from $9.0B to $8.6B. FY2025's operating profit carried a $296M restructuring charge that alone took about 0.9 points off that year's return, so about all of the 0.9-point fall across FY2023–FY2025 is that charge landing in the latest year rather than the capital earning less. FY2024's operating profit carried a $3.4B asset write-down and a $2.8B goodwill write-off that alone took about 18.9 points off that year's return; FY2024 sits between the two ends of FY2023–FY2025, so the charge shapes the path between them without moving the change across it. A non-cash write-down lowers the reported return in the year it lands.
$2.8B
FY2024
Goodwill impairments.Took $2.8B of goodwill writedowns across 1 year (FY2024 ($2.8B)). Writedowns mean past acquisitions underperformed what was paid for them.
Key fundamentals
Latest Revenue$8.56B
Revenue Growth YoY-1.6%
Revenue CAGR (2yr)-2.2%
Net Margin9.4%
Free Cash Flow$1.25B
Return on Equity7.1%
Debt / Equity0.84x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Sirius Xm Holdings Inc.'s actual 10-K/10-Q/8-K filings?