Madison Square Garden Sports MSGS

Entertainment, Communication Services

$388.63

−0.22%

Market cap: $9.4B
PE: n/m; a sliver of earnings
Forward PE: n/m; not a meaningful number
Price to sales: 8.1×
EV/EBIT: 305×
Revenue, 12 months: $1.2B; +11% on a year ago
Net margin: 0.7%
Free cash flow yield: 0.7%

Madison Square Garden Sports trades at 8.1× sales. Madison Square Garden Sports' PE is not meaningful: its earnings over the last year are a sliver against its price. Revenue was $1.2B over the last twelve months, up 11% on a year earlier with a 1% net margin.

Charts

Financials

Income statement for MSGS, by quarter
Income statement	Q1 FY24	Q2 FY24	Q3 FY24	Q4 FY24	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26	Q3 FY26	Q4 FY26
	$43M+79%	$326.9M−8%	$430M+12%	$227.3M+79%	$53.3M+24%	$357.8M+9%	$424.2M−1%	$204M−10%	$39.5M−26%	$403.4M+13%	$432.2M+2%	$278.7M+37%
SG&A	$53.6M−3%	$65.1M−14%	$76.4M+25%	$66.4M+15%	$52.6M−2%	$67.9M+4%	$74.7M−2%	$70.9M+7%	$57.8M+10%	$69.1M+2%	$73.7M−1%	$85.4M+21%
	−$14.8M−59%	$28.8M−44%	$79.7M−3%	$52.3M	−$8.3M−44%	$13.3M−54%	$32.3M−59%	−$22.6M	−$27.4M+232%	$22.2M+67%	$2M−94%	$32.1M
Interest expense	$6.9M+109%	$7.4M+22%	$6.9M−1%	$6.3M−3%	$6.1M−13%	$5.6M−25%	$5M−28%	$5M−21%	$5.6M−8%	$6.2M+11%	$4.8M−4%	$4.4M−11%
Pre-tax income	−$34M−13%	$25M−46%	$71.9M−24%	$42.7M	−$14.6M−57%	$1.8M−93%	$22.6M−69%	−$27.1M	−$17.4M+19%	$15M+727%	−$13.3M	$33.7M
	−$15.1M−26%	$10.8M−56%	$34M−21%	$17.2M	−$7M−54%	$698K−94%	$36.9M+8%	−$25.3M	−$8.6M+21%	$6.7M+862%	$6.7M−82%	$5.4M
Net income	−$18.8M+6%	$14.2M−37%	$37.9M−28%	$25.5M	−$7.5M−60%	$1.1M−92%	−$14.2M	−$1.8M	−$8.8M+17%	$8.2M+642%	−$20M+41%	$28.3M
	−$0.79+8%	$0.59−30%	$1.57−28%	$1.06	−$0.31−61%	$0.05−92%	−$0.59	−$0.07	−$0.37+19%	$0.34+580%	−$0.83+41%	$1.17
	24M−1%	24.1M−1%	24.1M+0%	24.2M+1%	24M+0%	24.2M+0%	24.1M+0%	24.1M−0%	24.1M+0%	24.2M+0%	24.2M+0%	24.3M+1%

EPS, diluted: 7 periods, Q4 FY15 to Q4 FY26: quarter's net income to common over its shares, to the cent.

Diluted shares: 8 periods, Q4 FY15 to Q4 FY25: a loss quarter: its basic count, share-days: the 12-month average less the 9-month, weighted by days. 3 periods, Q4 FY21 to Q4 FY24: share-days: the 12-month average less the 9-month, weighted by days. Q4 FY26: the earlier year to date counted no dilution: the quarter's basic count plus the later year to date's dilution.

From each company's 10-Q and 10-K filings, the newest version of each figure. Quarters are as filed (a fourth quarter is the year less its first nine months), fiscal years as the 10-K prints them, restated where a later 10-K restated them, and balance sheet lines as of the period's end. A quarter whose 10-Q isn't filed yet is from the company's results release. Growth is on the same period a year earlier. A dash is a period with no figure for the line: the filing doesn't print it, or it hasn't been read yet.

Peers

Companies in Entertainment nearest Madison Square Garden Sports' size, closest first.

Company	Market cap	PE	Its 10y median PE	Fwd PE	P/S	Revenue growth	Net margin
MSGSMadison Square Garden Sports	$9.4B	n/m	81.2×	n/m	8.1×	+11%	0.7%
CHDNChurchill Downs	$5.8B	14.4×	22.6×	n/m	2.0×	+6%	13.8%
WMGWarner Music	$16.1B	17.2×	22.8×	n/m	2.2×	+13%	9.2%
MTNVail Resorts	$5.2B	35.4×	32.2×	n/m	1.8×	−4%	5.2%
NXSTNexstar Media	$5.2B	32.2×	10.8×	n/m	0.9×	+11%	3.2%
CNKCinemark	$4.6B	21.9×	17.1×	n/m	1.4×	+5%	6.4%
FWONKLiberty Media	$22.4B	n/m	20.6×	42.0×	5.2×	+12%	9.4%
ROKURoku	$23.5B	67.8×	101×	48.7×	4.5×	+19%	6.8%
RSIRush Street Interactive	$3.7B	61.2×	95.1×	n/m	2.7×	+34%	2.3%
MSGEMadison Square Garden Entertainment	$3.7B	56.4×	33.0×	n/m	3.5×	+13%	6.2%
FOXAFox	$27.9B	17.3×	13.7×	11.2×	1.6×	+5%	9.8%
Peer median	$5.5B	32.2×	22.7×	42.0×	2.1×	+11%	6.6%