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Madison Square Garden Sports Corp. (MSGS) stock

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NYSE: MSGS NYSE Movies & Entertainment

B Fundamentals grade

Madison Square Garden Sports 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

~$75

Cash-flow model

Base case. Range ~$55–$100 across our lower- and higher-growth cases (5.1%–15.1% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 76% below it.

Price used: $310.15, November 2, 2026

Madison Square Garden Sports 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 4 sales by directors and officers, last 12 monthsInsider trades
  • Funds236 adding, 177 cuttingOf 62 active managers that changed their stake, 34 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Madison Square Garden Sports files

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

Revenue for the twelve months to June 2026 was $1.15bn, up 11.0% on a year earlier, faster than 1.6% a quarter earlier. Free-cash-flow margin fell to 5.3% from 8.5% a year earlier. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 1 of our 5 financial-health checks. Our cash-flow model value is $65.73 a share, against a share price of $408. At that price, our model says the market is pricing in about 44.8% a year of cash-flow growth for five years, faster than the 22.6% a year revenue growth it has delivered.

Source: 10-K filed August 13, 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

Madison Square Garden Sports Corp.'s trailing-twelve-month revenue grew 11.0% year on year, with a free-cash-flow margin of 5.3%. Where it stands out: change in growth rate of +9.5pp ranks 3 of 25 movies & entertainment companies we cover.

Our discounted-cash-flow model values the business at ~$75 per share in the base case (~$55–$100 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 84% in the quarter to 2026-06-30, the 2nd beat in the last four quarters.

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 9.5 points higher than a quarter earlier.

Things to watch

  • Priced above our value. The share price of $310.15 is 76% above our value per share of $75.
  • Short interest rising. Shares sold short rose 22% in a month to 8.8% of tradable shares.
  • Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.
  • Estimates being cut. Analysts' consensus for next year's earnings per share has fallen 953.6% over 90 days.

Latest results: FY2026 Q4

Filed August 13, 2026
Earnings per share
$1.16 against an average estimate of $0.63: beat by 84.1%
Revenue
$279m, up 36.7% on a year earlier
Share reaction
-1.7% in the first session after the results on August 13, 2026, against +0.5% for the S&P 500
Next report
October 30, 2026; average EPS estimate -$1.31

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

Price chart

  • 1 day-0.9%
  • 1 week+7.2%
  • 1 month+1.2%
  • This year+59.2%
  • 1 year+92.1%
  • 5 years+123.4%
  • 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)
$1.2B
Operating margin
2.5%
Net margin
0.7%
EPS (TTM, diluted)
$0.32

Growth

Revenue growth
+11.0%
Change in growth rate
+9.5 pts
Share count change
+0.7%

Cash

Free cash flow (TTM)
$61.3M
FCF margin
5.3%
Stock pay % of revenue
1.9%

Earnings

Last results
August 13, 2026

News & updates

Updated November 1, 2026

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

  1. Announcement
  2. Announcement
  3. Leadership
  4. Partnership
  5. Announcement
  6. Leadership
  7. Leadership
  8. Announcement
  9. 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 Sports Corp. valuation models and calculator

What the price is pricing in

The share price implies about 33.5% a year of cash-flow growth for five years.That is faster than the 22.6% a year revenue growth Madison Square Garden Sports has delivered.

  • Priced in33.5%
  • Last 12 months11.0%
  • 3 years a year9.1%
  • 5 years a year22.6%

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 ($310.15, Nov 2, 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
Sell12-month view
12-month price target
~$75
Price used
$310.15close November 2, 2026
Implied change
▼ 76%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Madison Square Garden Sports Corp.'s free cash flow after stock-based pay with after-tax interest added back ($84.1M, FY2026 Q4 TTM), growing -0.6% and 8.2% 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 ~$55–~$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 Sports Corp.'s free cash flow after stock-based pay ( $84.1M, 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 Sports Corp. as an operating company, with every model that fits that kind of business. Cost of equity 8.5%: the 10-year Treasury yield (4.9%) plus a beta of 0.79 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. ~$75 ~$55–$100 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$4.3 ~$5.5–$15 Left out: out of range vs price (0.01x)
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: book value or earnings not available
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
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. ~$75 ~$55–$100 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Madison Square Garden Sports 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 ▼ −26%
  • Revenue growth 5 points higher ▲ +33%
  • Free-cash-flow margin 1 point lower ▼ −15%
  • Last year's free-cash-flow margin change, if it persists ▼ −33%
  • Discount rate 1 point higher ▼ −16%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $46$63$87$118$158$210
8.5% $34$47$64$86$115$152
10% $27$37$50$67$89$117

Valuation multiples over time Market data may be delayed

At fiscal year end 20162017201820192020202120222023202420252026
Share price$88.51$101.02$159.14$143.62$105.66$124.13$108.61$141.60$141.66$157.34$302.59
Market value$2.2bn$2.4bn$3.8bn$3.4bn$2.5bn$3.0bn$2.7bn$3.4bn$3.4bn$3.8bn$7.3bn
+ Net debt (− = net cash)−$1.4bn$105m$105m$2m$272m$320m$159m$285m$216m$146m$94m
Enterprise value$747m$2.5bn$3.9bn$3.4bn$2.8bn$3.3bn$2.8bn$3.7bn$3.6bn$3.9bn$7.4bn
Multiples
Price / sales 2.0x1.8x2.4x2.1x4.2x7.2x3.2x3.9x3.3x3.6x6.4x
Price / earnings ——26.8xn/m——51.8x71.7x58.1x—n/m
Price / free cash flow 40.5x13.4x147.6x———15.0x22.6x37.6x43.1x119.8x
EV / EBITDA 17.0x49.2x37.4x56.3x——30.8x41.8x24.3xn/mn/m

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

27 /100

Weak moat

How hard Madison Square Garden Sports's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median 0.4% of total assets over 10 years.

  • Durability 0 / 20

    Operating margin has been a median 1.5%; its worst year was -18.9%.

  • Cash conversion 10 / 20

    Free cash flow was positive in 7 of 10 years, at a median 6.9% of revenue.

  • Discipline 15 / 20

    The diluted share count rose 0.5% over five years; stock-based pay has been a median 3.0% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (32 before it).

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

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$1.14 −455% $1.1bn −6%
Next −$1.96 −73% $1.1bn +4%

Next year's EPS estimate has moved −953.6% in 90 days, across 6 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +88.4% on 90 days ago. In the last 30 days, 0 analysts raised Madison Square Garden Sports Corp.'s forecast and 1 cut it.

Consensus EPS forecast Madison Square Garden Sports Corp., last 90 days
−$2.00 −$1.00 $0.00 $1.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$0.60 Current fiscal year, 60 days ago: −$0.64 Current fiscal year, 30 days ago: −$0.97 Current fiscal year, 7 days ago: −$1.14 Current fiscal year, Now: −$1.14 −$1.14 Next fiscal year, 90 days ago: $0.23 Next fiscal year, 60 days ago: −$1.04 Next fiscal year, 30 days ago: −$1.83 Next fiscal year, 7 days ago: −$1.96 Next fiscal year, Now: −$1.96 −$1.96

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

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$0.60$0.23
60 days ago −$0.64−$1.04
30 days ago −$0.97−$1.83
7 days ago −$1.14−$1.96
Now −$1.14−$1.96

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.63 $1.16 +84.1%
Mar 2026 $0.52 −$0.83 −258.8%
Dec 2025 $0.46 $0.34 −26.5%
Sept 2025 −$1.16 −$0.37 +68.0%

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

Management guidance

Earnings release, August 13, 2026

No numeric guidance in Madison Square Garden Sports Corp.'s latest earnings release (filed August 13, 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 Sports Corp.'s revenue by -0.6% next year and +8.2% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (-6.3%, weight 65%) and the company's own record (+10.1%, weight 35%) . How the weights are set.

Analyst recommendations

7 analysts, Oct 2026
Buy571%
Hold229%
Sell00%

Monthly trend

  1. Oct 20262327
  2. Sep 20262338
  3. Aug 20262338
  4. Jul 20262338

Counts of recommendations published by analysts covering Madison Square Garden Sports 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
8.8%
of tradable shares
Days to cover
5.77
at average volume
Short interest, 1 month
+22%
to September 30, 2026
Held by institutions
—
of shares
Held by insiders
—
of shares
Employees
522
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 +92.1%

$161.44 on October 31, 2025 to $310.15

ThenNowEffect
Revenue (last 12 months) $1.0bn $1.2bn +11.0%
P/S multiple 3.7x 6.5x +74.2%
Share count 24m 24m −0.7%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +136.2%

$131.33 on November 3, 2023 to $310.15

ThenNowEffect
Revenue (last 12 months) $887m $1.2bn +30.0%
Net margin 5.4% 0.7% −87.5%
P/E multiple 66.5x n/m +1358.2%
Share count 24m 24m −0.2%

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 202120222023202420252026 to date
Return
MSGS−6%+11%−1%+24%+15%+59%
Industry peers (median)−4%−43%+7%+24%+5%+10%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
MSGS58%67%58%67%33%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
MSGS−25%−25%−22%−8%−22%−10%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 42% from July 6, 2018 to March 23, 2020. Getting back needed a 71% gain, reached on October 30, 2024, 1682 days after the low.

Price behaviour

52-week range
$160.32 – $313.51
From 52-week high
−1.1%
vs 50-day average
+3.1%
vs 200-day average
+14.3%
Volatility (1 year)
31%
Beta vs S&P 500
0.55

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
4 up, 8 down
typical move ±3.1%
After a week
6 up, 6 down
typical move ±3.1%
After a month
8 up, 4 down
typical move ±5.0%
Results releasedNext dayS&P 500 next day5 days21 days
August 13, 2026 −1.7% +0.5% −3.8% −4.3%
May 8, 2026 +3.5% +1.1% +5.7% +15.5%
February 5, 2026 −2.8% +0.6% −3.2% +10.5%
October 31, 2025 −3.5% +0.5% −2.1% −1.3%
August 12, 2025 −3.9% +1.4% −2.9% +4.6%
May 2, 2025 −2.1% +0.9% −0.5% −1.8%
February 4, 2025 −4.3% +1.1% −4.7% −9.1%
November 1, 2024 −3.1% +0.2% +2.1% +3.1%
August 13, 2024 +0.5% +2.0% +5.3% +3.7%
May 2, 2024 −0.6% +2.2% +1.8% +0.9%
February 6, 2024 +7.1% +1.1% +4.5% +2.0%
November 2, 2023 +4.0% +2.8% +0.4% +2.9%

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.

Madison Square Garden Sports 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 Sports Corp.
$800M $900M $1B $1.1B $1.2B FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Revenue (TTM), FY24 Q1: $906.4M Revenue (TTM), FY24 Q2: $879.6M Revenue (TTM), FY24 Q3: $926.8M Revenue (TTM), FY24 Q4: $1B Revenue (TTM), FY25 Q1: $1B Revenue (TTM), FY25 Q2: $1.1B Revenue (TTM), FY25 Q3: $1.1B Revenue (TTM), FY25 Q4: $1B Revenue (TTM), FY26 Q1: $1B Revenue (TTM), FY26 Q2: $1.1B Revenue (TTM), FY26 Q3: $1.1B Revenue (TTM), FY26 Q4: $1.2B $1.2B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY24 Q1 $906.4M
FY24 Q2 $879.6M
FY24 Q3 $926.8M
FY24 Q4 $1B
FY25 Q1 $1B
FY25 Q2 $1.1B
FY25 Q3 $1.1B
FY25 Q4 $1B
FY26 Q1 $1B
FY26 Q2 $1.1B
FY26 Q3 $1.1B
FY26 Q4 $1.2B
Revenue growth, TTM YoY Madison Square Garden Sports Corp.
-10% 0% 10% 20% 30% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Revenue growth, TTM YoY, FY24 Q1: 9.6% Revenue growth, TTM YoY, FY24 Q2: -1.3% Revenue growth, TTM YoY, FY24 Q3: -1.0% Revenue growth, TTM YoY, FY24 Q4: 15.7% Revenue growth, TTM YoY, FY25 Q1: 14.5% Revenue growth, TTM YoY, FY25 Q2: 21.4% Revenue growth, TTM YoY, FY25 Q3: 14.6% Revenue growth, TTM YoY, FY25 Q4: 1.2% Revenue growth, TTM YoY, FY26 Q1: -1.2% Revenue growth, TTM YoY, FY26 Q2: 0.3% Revenue growth, TTM YoY, FY26 Q3: 1.6% Revenue growth, TTM YoY, FY26 Q4: 11.0% 11.0%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q1 9.6%
FY24 Q2 -1.3%
FY24 Q3 -1.0%
FY24 Q4 15.7%
FY25 Q1 14.5%
FY25 Q2 21.4%
FY25 Q3 14.6%
FY25 Q4 1.2%
FY26 Q1 -1.2%
FY26 Q2 0.3%
FY26 Q3 1.6%
FY26 Q4 11.0%
Operating margin (TTM) Madison Square Garden Sports Corp.
-5% 0% 5% 10% 15% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Operating margin (TTM), FY24 Q1: 11.7% Operating margin (TTM), FY24 Q2: 9.5% Operating margin (TTM), FY24 Q3: 8.8% Operating margin (TTM), FY24 Q4: 14.2% Operating margin (TTM), FY25 Q1: 14.7% Operating margin (TTM), FY25 Q2: 12.8% Operating margin (TTM), FY25 Q3: 8.4% Operating margin (TTM), FY25 Q4: 1.4% Operating margin (TTM), FY26 Q1: -0.4% Operating margin (TTM), FY26 Q2: 0.4% Operating margin (TTM), FY26 Q3: -2.4% Operating margin (TTM), FY26 Q4: 2.5% 2.5%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q1 11.7%
FY24 Q2 9.5%
FY24 Q3 8.8%
FY24 Q4 14.2%
FY25 Q1 14.7%
FY25 Q2 12.8%
FY25 Q3 8.4%
FY25 Q4 1.4%
FY26 Q1 -0.4%
FY26 Q2 0.4%
FY26 Q3 -2.4%
FY26 Q4 2.5%
FCF margin (TTM) Madison Square Garden Sports Corp.
-5% 0% 5% 10% 15% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 FCF margin (TTM), FY24 Q1: 10.6% FCF margin (TTM), FY24 Q2: 11.3% FCF margin (TTM), FY24 Q3: 2.2% FCF margin (TTM), FY24 Q4: 8.8% FCF margin (TTM), FY25 Q1: 11.4% FCF margin (TTM), FY25 Q2: 13.7% FCF margin (TTM), FY25 Q3: 13.8% FCF margin (TTM), FY25 Q4: 8.5% FCF margin (TTM), FY26 Q1: 2.8% FCF margin (TTM), FY26 Q2: -0.0% FCF margin (TTM), FY26 Q3: 4.9% FCF margin (TTM), FY26 Q4: 5.3% 5.3%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q1 10.6%
FY24 Q2 11.3%
FY24 Q3 2.2%
FY24 Q4 8.8%
FY25 Q1 11.4%
FY25 Q2 13.7%
FY25 Q3 13.8%
FY25 Q4 8.5%
FY26 Q1 2.8%
FY26 Q2 -0.0%
FY26 Q3 4.9%
FY26 Q4 5.3%

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 Sports 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 $1.2B
  2. Selling, general and admin $286M · 24.8%
  3. Other operating costs $839M · 72.7%
  4. Operating income $28.9M · 2.5%
  5. Income tax $10.2M · 0.9%
  6. Interest and other $10.9M · 0.9%
  7. Net income $7.8M · 0.7%

Shares of revenue. Source: Madison Square Garden Sports'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 2014 Jun 2014 2015 Jun 2015 2016 Jun 2016 2017 Jun 2017 2018 Jun 2018 2019 Jun 2019 2020 Jun 2020 2021 Jun 2021 2022 Jun 2022 2023 Jun 2023 2024 Jun 2024 2025 Jun 2025 2026 Jun 2026
Income
Revenue 914 1,072 1,115 1,318 1,559 1,631 603 416 821 887 1,027 1,039 1,154
EBITDA −22 108 44 51 104 61 −1 −73 91 89 149 18 32
Operating income −114 −0 −59 −56 −18 −58 −94 −78 86 85 146 15 29
Net income −117 −41 −77 −73 142 11 −182 −14 51 48 59 −22 8
Diluted EPS −$4.69 −$1.63 −$3.12 −$3.05 $5.94 $0.48 −$7.62 −$0.58 $2.10 $1.89 $2.44 −$0.93 $0.32
Growth (year on year)
Revenue — +17.3% +4.1% +18.2% +18.3% +4.6% −63.0% −31.1% +97.6% +8.0% +15.7% +1.2% +11.0%
EBITDA — — −59.5% +16.5% +104.2% −41.5% −100.8% — — −2.6% +68.1% −87.9% —
Operating income — — — — — — — — — −1.1% +71.5% −89.9% —
Net income — — — — — −91.9% — — — −6.5% +23.0% −138.2% —
Diluted EPS — — — — — −91.9% — — — −10.0% +29.1% −138.1% —
Margins
EBITDA margin −2.4% 10.1% 3.9% 3.9% 6.7% 3.7% −0.1% −17.5% 11.1% 10.0% 14.5% 1.7% 2.8%
Operating margin −12.5% −0.0% −5.3% −4.3% −1.2% −3.6% −15.6% −18.9% 10.5% 9.6% 14.2% 1.4% 2.5%
Net margin −12.8% −3.8% −6.9% −5.5% 9.1% 0.7% −30.2% −3.4% 6.2% 5.4% 5.7% −2.2% 0.7%
Free-cash-flow margin −18.4% 0.5% 4.8% 13.6% 1.6% −1.7% −59.5% −8.6% 21.6% 17.0% 8.8% 8.5% 5.3%
Cash flow
Cash from operations 137 69 126 224 218 161 4 −35 178 152 92 92 63
Capital spending 305 64 72 44 192 189 362 0 1 1 1 4 1
Free cash flow −168 5 54 179 26 −28 −359 −36 177 151 91 88 61
Stock-based pay 14 10 24 41 48 59 57 30 24 25 21 18 22
Free cash flow after stock pay −182 −5 30 138 −22 −87 −416 −66 153 126 69 70 40
Balance sheet
Cash 6 14 1,444 1 1 4 78 65 91 40 89 145 165
Total debt 0 0 0 105 106 6 350 385 250 325 305 291 259
Net debt (negative = net cash) −6 −14 −1,444 105 105 2 272 320 159 285 216 146 94
Diluted shares 25m 25m 25m 24m 24m 24m 24m 24m 24m 24m 24m 24m 24m
Returned to shareholders
Dividends — — — — — — — 0 0 171 1 1 0
Buybacks — — 106 148 12 0 0 — — — — — —
Total returned — — 106 148 12 0 0 0 0 171 1 1 0

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 5 checks passed · June 30, 2026
What it owns · $1.5bn
Short-term assets $323mLonger-term assets $1.2bn
What it owes, and who funded it · $1.8bn
Short-term liabilities $642mLonger-term liabilities $1.2bnShareholders' equity $-263m
  • Short-term assets cover short-term liabilities $323m of assets due within a year against $642m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $323m short-term assets against $1.2bn of longer-dated liabilities.
  • More cash than debt $165m of cash against $258m of debt.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • 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 $63m of operating cash flow against $258m of debt.
  • Operating profit covers interest at least five times over Operating income of $29m against $21m of interest.

From Madison Square Garden Sports 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

Dividends (TTM)
$472,000
Diluted share count
+0.7%
year over year
Total shareholder yield
0.0%
dividends 0.0% + buybacks 0.0% of market value
Dividend payout ratio
6%
of net income paid out
Sales & admin spending
24.8%
of revenue

Competitors: side by side with peers

Closest by revenue in movies & entertainment
Last 12 months unless stated MSGS MSGE SPHR MANU HUYA MCS Median
Revenue, last 12 months $1.2bn $1.1bn $1.4bn $910m $905m $817m $1.1bn
Revenue growth, last 12 months 11.0% 12.5% 23.4% 5.4% 7.1% 8.5% 8.5%
Revenue growth, 3-year average 9.1% 7.6% 33.2% — — 3.8% 7.1%
Revenue growth, latest quarter 36.7% 27.4% 11.0% — — 13.1% 11.3%
Operating margin 2.5% 13.3% −11.4% 3.3% −2.5% 4.9% 2.5%
Operating margin, 3-year average 6.0% 12.7% −26.7% −1.4% −2.4% 3.1% −0.6%
Net margin 0.7% 6.2% −5.2% −6.3% −1.7% 3.1% 0.5%
Cash from operations / revenue 5.4% 33.1% 29.4% 26.4% −2.7% 15.4% 9.9%
Free-cash-flow margin 5.3% 27.8% 4.5% 13.7% −5.3% 9.4% 5.3%
Free-cash-flow margin, 3-year average 7.5% 13.3% −17.9% 14.2% 2.2% 4.1% 6.1%
Stock pay / revenue 1.9% 3.1% 3.7% 0.0% 1.1% 1.0% 1.5%
Change in share count 0.7% −0.7% 6.9% 0.9% −1.2% −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 11.0% 8.5% 11 of 25
Change in growth rate Growth +9.5pp +0.7pp 3 of 25
Operating margin Profitability 2.5% 3.0% 13 of 24
Net margin Profitability 0.7% 0.5% 12 of 25
Free-cash-flow margin Cash generation 5.3% 7.1% 13 of 24
Stock pay as % of revenue Cash generation 1.9% 1.5% 16 of 25
Long-term debt as % of assets Balance sheet 15.7% 21.6% 5 of 19
Change in share count Balance sheet 0.7% 1.6% 8 of 19

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
Event Related $537M 46.5% ▲ 16.0%
Media Rights $296M 25.6% ▲ 3.6%
Sponsorship Signage and Suite Licenses $255M 22.1% ▲ 10.9%
League Distribution $66.2M 5.7% ▲ 8.6%

From Madison Square Garden Sports Corp.'s 10-K filed August 13, 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
$7.4B
Institutions reporting
461
Shares held vs prior quarter
▲ 3.5%
Positions opened / closed
91 / 39

Top buyers and sellers, Q2 2026: 236 institutions bought and 177 sold ; the biggest buyer was Avantyr Capital Partners, LP (+467K shares) and the biggest seller Price T Rowe Associates Inc (−400K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $843M 2.1M 11.4% ▲ 4.3%
Silver Lake Group, L.L.C. $763M 1.9M 10.3% 0.0%
T. Rowe Price Investment Management, Inc. $441M 1.1M 5.9% ▲ 38.7%
Vanguard Portfolio Management LLC $384M 956K 5.2% ▲ 2.4%
Vanguard Capital Management LLC $321M 799K 4.3% ▲ 0.8%
Ariel Investments, LLC $265M 659K 3.6% ▼ 8.2%
Gates Foundation Trust $238M 592K 3.2% 0.0%
GAMCO Investors, Inc. Et Al $237M 589K 3.2% ▲ 0.3%
State Street Corp $235M 586K 3.2% ▲ 3.7%
Avantyr Capital Partners, LP $188M 467K 2.5% New
Gabelli Funds LLC $157M 391K 2.1% ▲ 0.1%
Geode Capital Management, LLC $153M 380K 2.1% ▲ 22.5%

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 Sports Corp.'s complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $2.1M 4 trades by 2 insiders · 0% under pre-set plans
Net ▼ $2.1M net selling
Insider Date Trade Shares Price Value
Warner Bryan SVP, Head of Legal September 16, 2026 Sell 628 $393.77 $247,288
Dolan Charles P Director February 20, 2026 Sell 331 $326.62 $108,111
Dolan Charles P Director February 20, 2026 Sell 1,271 $325.78 $414,066
Dolan Charles P Director February 20, 2026 Sell 4,057 $324.98 $1.3M

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 October 30, 2026 estimated from the company's past filing pattern, not announced

  • August 13, 2026
  • May 8, 2026
  • February 5, 2026
  • October 31, 2025
  • August 12, 2025
  • May 2, 2025

Recent SEC filings

Data status

When each part of this page on Madison Square Garden Sports 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 Sports Corp. in brief

What does Madison Square Garden Sports Corp. do?
Madison Square Garden Sports Corp. is a US-listed company in the movies & entertainment industry. Its financial year ends in June.
What is Madison Square Garden Sports Corp.'s stock ticker?
Madison Square Garden Sports Corp. trades under the ticker MSGS on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Madison Square Garden Sports Corp.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Madison Square Garden Sports Corp. reported revenue of $1.2B, 11.0% higher than a year earlier, according to its SEC filings.
What is Madison Square Garden Sports Corp.'s free cash flow?
Madison Square Garden Sports Corp.'s free-cash-flow margin is 5.3% of revenue over the trailing twelve months, ranking 13 of the 24 movies & entertainment companies we cover.
What is Madison Square Garden Sports Corp.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Madison Square Garden Sports Corp.'s free cash flow after stock-based pay gives ~$75 per share in the base case, and ~$55–$100 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Madison Square Garden Sports Corp.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Silver Lake Group, L.L.C. and T. Rowe Price Investment Management, Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Madison Square Garden Sports Corp.'s market cap?
On June 30, 2026, Madison Square Garden Sports Corp.'s market capitalisation was about $7.3B, with a price-to-earnings ratio of 945.8 and net debt of $94M. Market figures come from third-party market data and may be delayed.
Does Madison Square Garden Sports Corp. pay a dividend?
Yes: Madison Square Garden Sports Corp. paid $472,000 in dividends over the trailing twelve months, a dividend yield of 0.01% and a payout ratio of 6.1%.
Who are Madison Square Garden Sports Corp.'s competitors?
In our Movies & Entertainment peer group, the companies closest to Madison Square Garden Sports Corp. are Madison Square Garden Entertainment Corp., Sphere Entertainment Co., Manchester United plc, Huya Inc. and Marcus Corp. The side-by-side comparison below sets their revenue, margins and growth against Madison Square Garden Sports Corp.'s.
Are insiders buying or selling Madison Square Garden Sports Corp. stock?
Over the last 12 months, Madison Square Garden Sports Corp.'s directors and officers reported 0 open-market purchases and 4 sales on Form 4. The insider trading page charts every trade.