Madison Square Garden Sports Corp. MSGS
Madison Square Garden Sports Corp. is a Nevada corporation with our principal executive offices at Two Pennsylvania Plaza, New York, NY 10121. Unless the context otherwise requires, all references to "we," "us," "our," "MSG Sports" or the "Company" refer collectively to Madison Square Garden Sports Corp., a holding company, and its direct and indirect subsidiaries. We conduct substantially all of our business activities discussed in this Annual Report on Form 10-K through MSG Sports, LLC and its direct and indirect subsidiaries.
The Company was originally incorporated in Delaware on March 4, 2015 as an indirect, wholly-owned subsidiary of MSG Networks Inc. ("MSG Networks"). All of the outstanding common stock of the Company was distributed to MSG Networks stockholders (the "MSGS Distribution") on September 30, 2015.
Valuation FY2026 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.15B | $1.04B | $1.03B | $887.4M | $821.4M | $415.7M | $603.3M | $729.4M | $712.4M | $1.32B |
| SG&A | $286.0M | $266.1M | $261.4M | $249.9M | $229.7M | $206.7M | $319.7M | $327.4M | $290.7M | $407.0M |
| Total operating expenses | — | — | — | — | — | — | $697.2M | $787.6M | $1.54B | $1.38B |
| Operating income | $28.9M | $14.8M | $146.0M | $85.2M | $86.1M | -$78.4M | -$93.9M | -$58.2M | -$18.2M | -$56.3M |
| Interest expense | $21.1M | $21.7M | $27.6M | $22.9M | $11.7M | $10.6M | $4.5M | $5.0M | $3.5M | $4.2M |
| Pre-tax income | $18.0M | -$17.3M | $105.7M | $89.9M | $73.9M | -$89.3M | -$98.0M | -$60.6M | -$21.3M | -$81.2M |
| Income tax | $10.2M | $5.2M | $46.9M | $44.3M | $25.1M | $73.4M | $20.6M | $12.6M | $59.4M | $4.4M |
| Net income | $7.8M | -$22.4M | $58.8M | $47.8M | $51.1M | -$14.0M | -$182.4M | $11.4M | $141.6M | -$72.7M |
| EPS, basic | 0.32 | -0.93 | 2.45 | 1.90 | 2.11 | -0.58 | -7.62 | 0.48 | 5.99 | -3.05 |
| EPS, diluted | 0.32 | -0.93 | 2.44 | 1.89 | 2.10 | -0.58 | -7.62 | 0.48 | 5.94 | -3.05 |
| Shares, diluted (wtd. avg.) | $24.3M | $24.1M | $24.1M | $24.2M | $24.4M | $24.1M | $23.9M | $23.9M | $23.8M | $23.9M |
Balance sheet
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $164.5M | $144.6M | $89.1M | $40.5M | $91.0M | $72.0M | $77.9M | $4.3M | $1.1M | $931.0K |
| Short-term investments | — | — | — | — | — | — | — | $108.4M | $0 | — |
| Receivables | — | — | — | — | $47.2M | $74.2M | $7.4M | $15.5M | $100.7M | $102.1M |
| Total current assets | $323.3M | $251.1M | $216.9M | $149.2M | $205.3M | $185.2M | $128.3M | $1.41B | $1.42B | $1.45B |
| Property, plant and equipment | $27.2M | $29.0M | $28.5M | $30.5M | $32.9M | $35.7M | $39.6M | $31.3M | $1.25B | $1.16B |
| Goodwill | $226.5M | $226.5M | $226.5M | $226.5M | $227.0M | $227.0M | $227.0M | $227.0M | $392.5M | $380.1M |
| Other intangibles | — | $0 | $0 | $0 | $636.0K | $1.7M | $2.8M | $6.3M | $243.8M | $257.0M |
| Total assets | $1.54B | $1.47B | $1.35B | $1.32B | $1.30B | $1.31B | $1.23B | $3.76B | $3.74B | $3.71B |
| Accounts payable | — | — | — | — | $11.3M | $2.2M | $2.3M | $1.0M | $28.9M | $24.1M |
| Short-term debt | $16.5M | $24.0M | $30.0M | $30.0M | $30.0M | $30.0M | $0 | $6.0M | $4.4M | $0 |
| Total current liabilities | $642.4M | $563.5M | $522.0M | $520.5M | $438.3M | $368.3M | $290.3M | $760.0M | $765.5M | $762.0M |
| Long-term debt | $242.0M | $267.0M | $275.0M | $295.0M | $220.0M | $355.0M | $350.0M | $0 | $101.3M | $105.4M |
| Total liabilities | $1.80B | $1.75B | $1.61B | $1.65B | $1.45B | $1.51B | $1.44B | $1.06B | $1.11B | $1.21B |
| Retained earnings | -$129.9M | -$137.6M | -$115.1M | -$173.9M | -$35.7M | -$78.9M | -$43.6M | $29.0M | -$11.1M | -$148.4M |
| Total equity | -$263.3M | -$281.4M | -$266.3M | -$337.2M | -$145.4M | -$201.9M | -$203.4M | $2.64B | $2.55B | $2.42B |
Cash flow
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $62.7M | $91.6M | $92.1M | $152.5M | $178.1M | -$35.3M | $3.6M | $161.3M | $217.6M | $223.5M |
| Depreciation and amortisation | $3.2M | $3.2M | $3.2M | $3.6M | $5.0M | $5.6M | $93.4M | $119.2M | $122.5M | $107.4M |
| Stock-based compensation | $21.5M | $17.9M | $21.3M | $25.2M | $24.2M | $30.4M | $57.0M | $59.5M | $47.6M | $41.1M |
| Capital expenditure | $1.4M | $3.6M | $1.5M | $1.2M | $932.0K | $466.0K | $362.5M | $188.8M | $191.9M | $44.2M |
| Investing cash flow | -$2.2M | -$6.9M | -$8.9M | -$17.8M | -$2.9M | -$466.0K | -$514.9M | -$232.9M | -$182.4M | -$264.3M |
| Financing cash flow | -$49.1M | -$26.4M | -$28.8M | -$185.3M | -$156.1M | $17.2M | -$520.6M | -$71.7M | -$51.1M | -$158.5M |
| Dividends paid | $472.0K | $633.0K | $701.0K | $170.9M | $0 | $0 | — | — | — | — |
| Buybacks | — | — | — | — | — | — | $0 | $0 | $11.8M | $148.0M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-056812.
Others in SIC 7990
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