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Madison Square Garden Entertainment Corp. (MSGE) stock

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NYSE: MSGE NYSE Movies & Entertainment Next results ~November 4, 2026

B Fundamentals grade

Madison Square Garden Entertainment Corp. is a US-listed company in the movies & entertainment industry. Its financial year ends in June.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$78

Cash-flow model

Base case. Range ~$57–$100 across our lower- and higher-growth cases (5.1%–15.1% a year).

Price vs value

Modestly overvalued

The price is inside our value range, 2% above our base value.

Price used: $79.40, November 2, 2026

Madison Square Garden Entertainment Corp. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 2 selling0 purchases and 2 sales by directors and officers, last 12 monthsInsider trades
  • Funds151 adding, 88 cuttingOf 52 active managers that changed their stake, 29 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Madison Square Garden Entertainment files

Where Madison Square Garden Entertainment stands after its latest 10-K

Revenue for the twelve months to June 2026 was $1.06bn, up 12.5% on a year earlier, faster than the 4.5% growth a quarter earlier. Free-cash-flow margin rose to 27.8% from 6.1% a year earlier. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 1 of our 6 financial-health checks. Our cash-flow model value is $81.32 a share, against a share price of $79.92.

Source: 10-K filed August 12, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 4, 2026 (estimated)

Madison Square Garden Entertainment Corp.'s trailing-twelve-month revenue grew 12.5% year on year, with a free-cash-flow margin of 27.8%. Where it stands out: free-cash-flow margin of 27.8% ranks 2 of 24 movies & entertainment companies we cover.

Our discounted-cash-flow model values the business at ~$78 per share in the base case (~$57–$100 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 413.4% while net income grew 76.8%: a 337pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Growth speeding up. The growth rate is 8.0 points higher than a quarter earlier.
  • Strong cash generation. 27.8% of revenue turned into free cash flow, against a median of 7.1% for movies & entertainment companies we cover.

Things to watch

  • Results due soon. Results are expected around 5 November; the share price can move sharply on the day.
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 3.1% ranks 19 of 25 movies & entertainment companies we cover (median 1.5%).
  • Short interest rising. Shares sold short rose 70% in a month to 7.9% of tradable shares.

Latest results: FY2026 Q4

Filed August 12, 2026
Earnings per share
-$0.14 against an average estimate of -$0.47: beat by 69.8%
Revenue
$196m, up 27.4% on a year earlier
Share reaction
+6.2% in the first session after the results on August 12, 2026, against +0.9% for the S&P 500
Next report
November 4, 2026; average EPS estimate $0.08

Madison Square Garden Entertainment's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-1.2%
  • 1 week+3.6%
  • 1 month-0.6%
  • This year+47.3%
  • 1 year+79.8%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.1B
Operating margin
13.3%
Net margin
6.2%
EPS (TTM, diluted)
$1.38

Growth

Revenue growth
+12.5%
Change in growth rate
+8.0 pts
Share count change
−0.7%

Cash

Free cash flow (TTM)
$295M
FCF margin
27.8%
Stock pay % of revenue
3.1%

Earnings

Last results
August 12, 2026
Next results (est.)
November 5, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Madison Square Garden Entertainment Corp. valuation models and calculator

What the price is pricing in

The share price implies about 9.7% a year of cash-flow growth for five years.That is slower than the 66.9% a year revenue growth Madison Square Garden Entertainment has delivered.

Read with care: free cash flow has swung sharply in the past year (often a one-off tax, legal or working-capital item), so the cash-flow base behind this reading may be unusually low or high.

  • Priced in9.7%
  • Last 12 months12.5%
  • 3 years a year7.6%
  • 5 years a year66.9%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($79.42, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$78
Price used
$79.42close November 3, 2026
Implied change
▼ 2%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Madison Square Garden Entertainment Corp.'s free cash flow after stock-based pay with after-tax interest added back ($161M, FY2026 Q4 TTM), growing 7.8% and 9% in the next two years (forecasts, guidance and its record), then back to 10.1% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$57–~$100 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Madison Square Garden Entertainment Corp.'s free cash flow after stock-based pay ( $161M, FY2026 Q4 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Madison Square Garden Entertainment Corp. as an operating company, with every model that fits that kind of business. Cost of equity 8.9%: the 10-year Treasury yield (4.9%) plus a beta of 0.88 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$78 ~$57–$100 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$17 ~$20–$50 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: return on equity above 40%: buybacks or intangibles make book value too small an anchor
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$28 ~$24–$34 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$50 ~$17–$78 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Madison Square Garden Entertainment Corp. with Movies & Entertainment in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −25%
  • Revenue growth 5 points higher ▲ +33%
  • Free-cash-flow margin 1 point lower ▼ −3%
  • Last year's free-cash-flow margin change, if it persists ▲ more than doubles
  • Discount rate 1 point higher ▼ −16%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $42$59$82$112$151$201
8.5% $31$43$60$81$109$145
10% $24$34$46$63$84$111

Valuation multiples over time Market data may be delayed

At fiscal year end 2023202420252026
Share price$33.62$34.23$39.97$80.89
Market value$1.8bn$1.7bn$1.9bn$3.9bn
+ Net debt (− = net cash)$570m$582m$556m$277m
Enterprise value$2.3bn$2.2bn$2.5bn$4.2bn
Multiples
Price / sales 2.1x1.7x2.0x3.7x
Price / earnings 22.9x11.5x51.6x58.7x
Price / free cash flow ————
EV / EBITDA 14.1x13.5x13.8x21.1x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 4, 2026, before the open. Analysts expect revenue of $208m and EPS of $0.08 (range −$0.14 to $0.30) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $2.76 +54% $1.1bn +6%
Next $2.90 +5% $1.2bn +5%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +9.1% on 90 days ago. In the last 30 days, 1 analyst raised Madison Square Garden Entertainment Corp.'s forecast and 0 cut it.

Consensus EPS forecast Madison Square Garden Entertainment Corp., last 90 days
$2.50 $2.60 $2.70 $2.80 $2.90 $3.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $2.53 Current fiscal year, 60 days ago: $2.52 Current fiscal year, 30 days ago: $2.52 Current fiscal year, 7 days ago: $2.92 Current fiscal year, Now: $2.76 $2.76

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal year
90 days ago $2.53
60 days ago $2.52
30 days ago $2.52
7 days ago $2.92
Now $2.76

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.47 −$0.14 +69.8%
Mar 2026 $0.18 $0.23 +26.8%
Dec 2025 $2.50 $1.97 −21.4%
Sept 2025 −$0.59 −$0.29 +51.3%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 12, 2026

No numeric guidance in Madison Square Garden Entertainment Corp.'s latest earnings release (filed August 12, 2026). Some companies give their outlook only on the earnings call.

How our valuation uses these forecasts

Our cash-flow model grows Madison Square Garden Entertainment Corp.'s revenue by +7.8% next year and +9.0% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+5.9%, weight 56%) and the company's own record (+10.1%, weight 44%) . How the weights are set.

Analyst recommendations

10 analysts, Oct 2026
Buy440%
Hold660%
Sell00%

Monthly trend

  1. Oct 20264610
  2. Sep 20264610
  3. Aug 2026459

Counts of recommendations published by analysts covering Madison Square Garden Entertainment Corp., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
7.9%
of tradable shares
Days to cover
4.21
at average volume
Short interest, 1 month
+70%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
3.9%
of shares
Employees
1,060
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +79.8%

$44.16 on October 31, 2025 to $79.40

ThenNowEffect
Revenue (last 12 months) $943m $1.1bn +12.5%
Net margin 4.0% 6.2% +57.1%
P/E multiple 57.0x 57.6x +1.0%
Share count 48m 48m +0.7%

Biggest factor: net margin.

Last 3 years +152.3%

$31.47 on November 3, 2023 to $79.40

ThenNowEffect
Revenue (last 12 months) $851m $1.1bn +24.6%
Net margin 9.0% 6.2% −30.6%
P/E multiple 21.5x 57.6x +168.1%
Share count 52m 48m +8.9%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202420252026 to date
Return
MSGE+12%+51%+47%
Industry peers (median)+24%+5%+10%
S&P 500+25%+18%+11%
Months that ended higher
MSGE50%58%73%
S&P 50075%75%46%
Largest fall from a high during the year
MSGE−25%−25%−14%
S&P 500−8%−19%−9%

Worst fall since April 17, 2023: 34% from October 17, 2024 to April 8, 2025. Getting back needed a 51% gain, reached on September 12, 2025, 157 days after the low.

Price behaviour

52-week range
$43.84 – $88.42
From 52-week high
−10.2%
vs 50-day average
+0.2%
vs 200-day average
+12.5%
Volatility (1 year)
31%
Beta vs S&P 500
0.72

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±5.7%
After a week
7 up, 5 down
typical move ±6.6%
After a month
7 up, 5 down
typical move ±9.7%
Results releasedNext dayS&P 500 next day5 days21 days
August 12, 2026 +6.2% +0.9% +3.9% −0.2%
May 7, 2026 −2.5% +0.5% +2.3% +7.9%
February 3, 2026 −3.4% −1.3% −2.5% −4.3%
November 6, 2025 +4.4% −1.0% +5.3% +17.4%
August 13, 2025 −9.7% +0.4% −6.6% +10.1%
May 6, 2025 +7.0% −0.4% +10.8% +11.6%
February 6, 2025 +2.4% −0.6% +6.4% −14.7%
November 8, 2024 −9.9% +0.5% −15.5% −17.4%
August 16, 2024 +6.6% +1.2% +8.1% +7.4%
May 9, 2024 −6.7% +0.7% −7.1% −12.8%
February 7, 2024 +6.8% +0.9% +7.0% +9.7%
November 7, 2023 −3.0% +0.4% −3.2% +2.5%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Madison Square Garden Entertainment Corp.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade B (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Madison Square Garden Entertainment Corp. in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Madison Square Garden Entertainment Corp.
$800M $900M $1B $1.1B FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Revenue (TTM), FY24 Q1: $847.3M Revenue (TTM), FY24 Q2: $894M Revenue (TTM), FY24 Q3: $921.1M Revenue (TTM), FY24 Q4: $959.3M Revenue (TTM), FY25 Q1: $955.8M Revenue (TTM), FY25 Q2: $960.5M Revenue (TTM), FY25 Q3: $974.7M Revenue (TTM), FY25 Q4: $942.7M Revenue (TTM), FY26 Q1: $962.3M Revenue (TTM), FY26 Q2: $1B Revenue (TTM), FY26 Q3: $1B Revenue (TTM), FY26 Q4: $1.1B $1.1B

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY24 Q1 $847.3M
FY24 Q2 $894M
FY24 Q3 $921.1M
FY24 Q4 $959.3M
FY25 Q1 $955.8M
FY25 Q2 $960.5M
FY25 Q3 $974.7M
FY25 Q4 $942.7M
FY26 Q1 $962.3M
FY26 Q2 $1B
FY26 Q3 $1B
FY26 Q4 $1.1B
Revenue growth, TTM YoY Madison Square Garden Entertainment Corp.
-5% 0% 5% 10% 15% FY24 Q2 FY24 Q4 FY25 Q2 FY25 Q4 FY26 Q2 FY26 Q4 Revenue growth, TTM YoY, FY24 Q2: 2.2% Revenue growth, TTM YoY, FY24 Q3: 4.4% Revenue growth, TTM YoY, FY24 Q4: 12.7% Revenue growth, TTM YoY, FY25 Q1: 12.8% Revenue growth, TTM YoY, FY25 Q2: 7.4% Revenue growth, TTM YoY, FY25 Q3: 5.8% Revenue growth, TTM YoY, FY25 Q4: -1.7% Revenue growth, TTM YoY, FY26 Q1: 0.7% Revenue growth, TTM YoY, FY26 Q2: 5.7% Revenue growth, TTM YoY, FY26 Q3: 4.5% Revenue growth, TTM YoY, FY26 Q4: 12.5% 12.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q2 2.2%
FY24 Q3 4.4%
FY24 Q4 12.7%
FY25 Q1 12.8%
FY25 Q2 7.4%
FY25 Q3 5.8%
FY25 Q4 -1.7%
FY26 Q1 0.7%
FY26 Q2 5.7%
FY26 Q3 4.5%
FY26 Q4 12.5%
Operating margin (TTM) Madison Square Garden Entertainment Corp.
8% 10% 12% 14% 16% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Operating margin (TTM), FY24 Q1: 9.8% Operating margin (TTM), FY24 Q2: 12.0% Operating margin (TTM), FY24 Q3: 10.7% Operating margin (TTM), FY24 Q4: 11.7% Operating margin (TTM), FY25 Q1: 13.3% Operating margin (TTM), FY25 Q2: 13.4% Operating margin (TTM), FY25 Q3: 14.3% Operating margin (TTM), FY25 Q4: 13.0% Operating margin (TTM), FY26 Q1: 11.5% Operating margin (TTM), FY26 Q2: 13.4% Operating margin (TTM), FY26 Q3: 12.2% Operating margin (TTM), FY26 Q4: 13.3% 13.3%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q1 9.8%
FY24 Q2 12.0%
FY24 Q3 10.7%
FY24 Q4 11.7%
FY25 Q1 13.3%
FY25 Q2 13.4%
FY25 Q3 14.3%
FY25 Q4 13.0%
FY26 Q1 11.5%
FY26 Q2 13.4%
FY26 Q3 12.2%
FY26 Q4 13.3%
FCF margin (TTM) Madison Square Garden Entertainment Corp.
0% 10% 20% 30% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 FCF margin (TTM), FY24 Q1: 16.1% FCF margin (TTM), FY24 Q2: 13.0% FCF margin (TTM), FY24 Q3: 6.6% FCF margin (TTM), FY24 Q4: 6.0% FCF margin (TTM), FY25 Q1: 3.0% FCF margin (TTM), FY25 Q2: 3.8% FCF margin (TTM), FY25 Q3: 8.9% FCF margin (TTM), FY25 Q4: 6.1% FCF margin (TTM), FY26 Q1: 10.8% FCF margin (TTM), FY26 Q2: 15.4% FCF margin (TTM), FY26 Q3: 27.9% FCF margin (TTM), FY26 Q4: 27.8% 27.8%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q1 16.1%
FY24 Q2 13.0%
FY24 Q3 6.6%
FY24 Q4 6.0%
FY25 Q1 3.0%
FY25 Q2 3.8%
FY25 Q3 8.9%
FY25 Q4 6.1%
FY26 Q1 10.8%
FY26 Q2 15.4%
FY26 Q3 27.9%
FY26 Q4 27.8%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2026, from the 10-K

Each dollar Madison Square Garden Entertainment took in during FY2026, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $1.1B
  2. Selling, general and admin $253M · 23.9%
  3. Other operating costs $666M · 62.8%
  4. Operating income $142M · 13.3%
  5. Income tax $40.8M · 3.8%
  6. Interest and other $34.6M · 3.3%
  7. Net income $66.2M · 6.2%

Shares of revenue. Source: Madison Square Garden Entertainment's 10-K for FY2026, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2021 Jun 2021 2022 Jun 2022 2023 Jun 2023 2024 Jun 2024 2025 Jun 2025 2026 Jun 2026
Income
Revenue 82 653 851 959 943 1,061
EBITDA −166 64 165 166 180 198
Operating income −237 −6 105 112 122 142
Net income −219 −133 77 144 37 66
Diluted EPS −$4.22 −$2.58 $1.47 $2.97 $0.77 $1.38
Growth (year on year)
Revenue — +698.8% +30.3% +12.7% −1.7% +12.5%
EBITDA — — +159.0% +0.2% +8.5% +9.9%
Operating income — — — +6.6% +9.1% +15.9%
Net income — — — +88.4% −74.1% +76.8%
Diluted EPS — — — +102.0% −74.1% +79.2%
Margins
EBITDA margin −202.6% 9.8% 19.4% 17.3% 19.1% 18.6%
Operating margin −290.0% −0.9% 12.3% 11.7% 13.0% 13.3%
Net margin −267.2% −20.4% 9.0% 15.0% 4.0% 6.2%
Cash flow
Cash from operations −148 95 136 111 115 351
Stock-based pay 41 39 32 31 28 32
Balance sheet
Cash 318 58 76 33 43 294
Total debt 0 671 646 615 599 571
Net debt (negative = net cash) −318 613 570 582 556 277
Diluted shares 52m 52m 52m 49m 48m 48m
Returned to shareholders
Buybacks 0 0 25 51 40 25
Total returned 0 0 25 51 40 25

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 6 checks passed · June 30, 2026
What it owns · $1.9bn
Short-term assets $522mLonger-term assets $1.4bn
What it owes, and who funded it · $1.9bn
Short-term liabilities $748mLonger-term liabilities $1.1bnShareholders' equity $46m
  • Short-term assets cover short-term liabilities $522m of assets due within a year against $748m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $522m short-term assets against $1.1bn of longer-dated liabilities.
  • More cash than debt $294m of cash against $571m of debt.
  • Debt below 40% of shareholders' equity Debt is 1247% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $351m of operating cash flow against $571m of debt.
  • Operating profit covers interest at least five times over Operating income of $142m against $40m of interest.

From Madison Square Garden Entertainment Corp.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q4 TTM
Buybacks (TTM)
$25M
Returned to shareholders
8%
of free cash flow
Buybacks, last 3 fiscal years
$116M
Diluted share count
−0.7%
year over year
Total shareholder yield
0.7%
dividends 0.0% + buybacks 0.7% of market value
Sales & admin spending
23.9%
of revenue
Days sales outstanding
30 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in movies & entertainment
Last 12 months unless stated MSGE MSGS MANU HUYA SPHR MCS Median
Revenue, last 12 months $1.1bn $1.2bn $910m $905m $1.4bn $817m $1.1bn
Revenue growth, last 12 months 12.5% 11.0% 5.4% 7.1% 23.4% 8.5% 8.5%
Revenue growth, 3-year average 7.6% 9.1% — — 33.2% 3.8% 7.1%
Revenue growth, latest quarter 27.4% 36.7% — — 11.0% 13.1% 11.3%
Operating margin 13.3% 2.5% 3.3% −2.5% −11.4% 4.9% 2.5%
Operating margin, 3-year average 12.7% 6.0% −1.4% −2.4% −26.7% 3.1% −0.6%
Net margin 6.2% 0.7% −6.3% −1.7% −5.2% 3.1% 0.5%
Cash from operations / revenue 33.1% 5.4% 26.4% −2.7% 29.4% 15.4% 9.9%
Free-cash-flow margin 27.8% 5.3% 13.7% −5.3% 4.5% 9.4% 5.3%
Free-cash-flow margin, 3-year average 13.3% 7.5% 14.2% 2.2% −17.9% 4.1% 6.1%
Stock pay / revenue 3.1% 1.9% 0.0% 1.1% 3.7% 1.0% 1.5%
Change in share count −0.7% 0.7% 0.9% −1.2% 6.9% −1.2% 1.6%

Median of all 25 companies we cover in movies & entertainment. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

25 movies & entertainment companies
Measure Company Peer median Rank
Revenue growth Growth 12.5% 8.5% 8 of 25
Change in growth rate Growth +8.0pp +0.7pp 5 of 25
Operating margin Profitability 13.3% 3.0% 6 of 24
Net margin Profitability 6.2% 0.5% 8 of 25
Free-cash-flow margin Cash generation 27.8% 7.1% 2 of 24
Stock pay as % of revenue Cash generation 3.1% 1.5% 19 of 25
Long-term debt as % of assets Balance sheet 27.9% 21.6% 13 of 19
Change in share count Balance sheet -0.7% 1.6% 5 of 19
Days sales outstanding Balance sheet 30 days 35 days 7 of 17

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to June 30, 2026
Products and services
Line of business Revenue Share YoY
Entertainment and Food Beverage and Merchandise Revenues $975M 91.9% ▲ 13.0%
Entertainment $810M 83.1% ▲ 13.7%
Food Beverage and Merchandise Revenues $164M 16.9% ▲ 9.2%
Arena Licensing Fees and Other Leasing Revenue $86.2M 8.1% ▲ 7.9%
Arena License Agreements $68.1M 78.9% 0.0%
Third Party Lease and Sublease Arrangements $18.2M 21.1% ▲ 53.2%

From Madison Square Garden Entertainment Corp.'s 10-K filed August 12, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$3.2B
Institutions reporting
277
Shares held vs prior quarter
▼ 2.2%
Positions opened / closed
52 / 18

Top buyers and sellers, Q2 2026: 151 institutions bought and 88 sold ; the biggest buyer was Assenagon Asset Management S.A (+516K shares) and the biggest seller Ariel Investments, LLC (−803K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Ariel Investments, LLC $429M 5.3M 13.3% ▼ 13.1%
Jericho Capital Asset Management L.P. $296M 3.7M 9.2% 0.0%
Blackrock, Inc. $253M 3.1M 7.9% ▲ 9.0%
Vanguard Portfolio Management LLC $150M 1.8M 4.7% ▲ 4.4%
Vanguard Capital Management LLC $142M 1.8M 4.4% ▼ 0.3%
Assenagon Asset Management S.A. $140M 1.7M 4.3% ▲ 42.6%
Point72 Asset Management, L.P. $123M 1.5M 3.8% ▼ 15.3%
Morgan Stanley $103M 1.3M 3.2% ▲ 1.0%
Geode Capital Management, LLC $95.8M 1.2M 3.0% ▲ 5.8%
Goldman Sachs Group Inc $92.3M 1.1M 2.9% ▲ 70.1%
Channing Capital Management, LLC $78.9M 975K 2.5% ▼ 26.1%
State Street Corp $78.1M 966K 2.4% ▲ 4.7%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Madison Square Garden Entertainment Corp.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $2M 2 trades by 2 insiders · 0% under pre-set plans
Net ▼ $2M net selling
Insider Date Trade Shares Price Value
D'Ambrosio Philip Gerard EVP and Treasurer June 11, 2026 Sell 9,907 $74.48 $737,873
Dolan Charles P Director February 20, 2026 Sell 19,311 $63.76 $1.2M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 5, 2026 estimated from the company's past filing pattern, not announced

  • August 12, 2026
  • May 7, 2026
  • February 3, 2026
  • November 6, 2025
  • August 13, 2025
  • May 6, 2025

Recent SEC filings

Data status

When each part of this page on Madison Square Garden Entertainment Corp. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Madison Square Garden Entertainment Corp. in brief

What does Madison Square Garden Entertainment Corp. do?
Madison Square Garden Entertainment Corp. is a US-listed company in the movies & entertainment industry. Its financial year ends in June.
What is Madison Square Garden Entertainment Corp.'s stock ticker?
Madison Square Garden Entertainment Corp. trades under the ticker MSGE on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Madison Square Garden Entertainment Corp.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Madison Square Garden Entertainment Corp. reported revenue of $1.1B, 12.5% higher than a year earlier, according to its SEC filings.
What is Madison Square Garden Entertainment Corp.'s free cash flow?
Madison Square Garden Entertainment Corp.'s free-cash-flow margin is 27.8% of revenue over the trailing twelve months, ranking 2 of the 24 movies & entertainment companies we cover.
What is Madison Square Garden Entertainment Corp.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Madison Square Garden Entertainment Corp.'s free cash flow after stock-based pay gives ~$78 per share in the base case, and ~$57–$100 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Madison Square Garden Entertainment Corp.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Ariel Investments, LLC, Jericho Capital Asset Management L.P. and Blackrock, Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Madison Square Garden Entertainment Corp. buying back stock, and does it pay a dividend?
Madison Square Garden Entertainment Corp. spent $25M on share repurchases over the trailing twelve months, and its diluted share count fell 0.7% over the year.
What is Madison Square Garden Entertainment Corp.'s market cap?
On June 30, 2026, Madison Square Garden Entertainment Corp.'s market capitalisation was about $3.9B, with a price-to-earnings ratio of 58.7 and net debt of $277M. Market figures come from third-party market data and may be delayed.
How much debt does Madison Square Garden Entertainment Corp. have?
Madison Square Garden Entertainment Corp.'s debt-to-equity ratio is 1246.8%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
Who are Madison Square Garden Entertainment Corp.'s competitors?
In our Movies & Entertainment peer group, the companies closest to Madison Square Garden Entertainment Corp. are Madison Square Garden Sports Corp., Manchester United plc, Huya Inc., Sphere Entertainment Co. and Marcus Corp. The side-by-side comparison below sets their revenue, margins and growth against Madison Square Garden Entertainment Corp.'s.
Are insiders buying or selling Madison Square Garden Entertainment Corp. stock?
Over the last 12 months, Madison Square Garden Entertainment Corp.'s directors and officers reported 0 open-market purchases and 2 sales on Form 4. The insider trading page charts every trade.
When is Madison Square Garden Entertainment Corp.'s next earnings date?
Around November 4, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Madison Square Garden Entertainment Corp. announces its own schedule.