Madison Square Garden Sports Corp.MSGS
NYSE•Communication Services•Entertainment
Madison Square Garden Sports Corp. operates as a professional sports company in the United States. The company owns and operates a portfolio of assets that consists of the New York Knickerbockers of the National Basketball Association (NBA) and the New York Rangers of the National Hockey League. Its other professional franchises include development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League. It also operates the Madison Square Garden Training Center, a professional sports team performance center in Greenburgh. The company was formerly known as The Madison Square Garden Company. Madison Square Garden Sports Corp. was incorporated in 2015 and is based in New York, New York.
Madison Square Garden Sports Co (MSGS) reported trailing twelve months revenue of $1.08B as of March 2026, a 1.6% increase year-over-year. Quarterly revenue reached $432.20M, reflecting continued top-line momentum.
Madison Square Garden Sports Co reported a TTM net loss of $22.32M, with quarterly EBITDA of $2.75M. The operating margin contracted from 7.6% to 0.5%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (0.5%) and net margin (-4.6%) indicates moderate non-operating costs. Net margin has narrowed from -3.4% a year ago, reflecting increased costs or interest expense.
MSGS trades at a P/S of 8.1x.
The company generated $57.38M in free cash flow over the trailing twelve months, a 1368.6% increase year-over-year, indicating strong cash generation ability. The balance sheet shows $1.51B in total assets with $242.00M in long-term debt against $-295.45M in stockholders equity. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are under pressure, averaging -7.0%. The business may lack pricing power or face rising costs.'
Limited ROE data for a reliable assessment.
6 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue shows resilience with 4 of 7 quarters posting growth — demand is generally stable but has seen some soft patches.
Data-driven red flags and warnings across 21 quarters
Operating margins dropped 496.1% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.
FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.
Limited debt-to-equity data available.
Revenue is stable or growing over recent quarters — demand appears durable.
FCF turned negative in 2 of the last 8 quarters — occasional cash consumption.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation