Sirius XM (SIRI) Q4 Earnings Analysis

Revenue:
* $2.19 billion vs. $2.17 billion analyst estimates (0.7% beat)
* 4.3% year-over-year decline but aligns with the company's 2.2% CAGR over the past five years

Earnings Per Share (GAAP):
* $0.83 vs. $0.71 analyst estimates (17% beat)

Adjusted EBITDA:
* $688 million vs. $645.9 million analyst estimates (6.5% beat)

Guidance:
* Full-year revenue guidance of $8.5 billion, slightly below analyst estimates
* EBITDA guidance of $2.6 billion, in line with analyst expectations

Key Metrics:
* Operating margin: 23.1%, up from 21.4% last year
* Free cash flow margin: 23.6%, up from 19.5% last year
* Subscribers: 39 million
* Market capitalization: $7.41 billion

Business Overview:
Sirius XM is a leading provider of satellite and online radio services in North America, known for its commercial-free music channels.

Growth Prospects:
While Sirius XM has a strong subscriber base, the company faces challenges due to changing consumer habits and increased competition in the streaming space. Its revenue growth has been modest in recent years, with analysts projecting a 1.9% decline over the next 12 months.

Financial Health:
Sirius XM has generated decent cash flow, with a free cash flow margin averaging 13% over the past two years. However, analysts predict a slight improvement in cash conversion over the next year, providing the company with more financial flexibility.

Conclusion:
Sirius XM exceeded earnings expectations in Q4 but provided slightly disappointing revenue guidance. The company's growth prospects remain uncertain as it navigates the competitive streaming landscape. Investors should carefully consider the company's long-term fundamentals and valuation before making a buy or sell decision.