Comprehensive Stock Comparison
Compare Formula One Group (FWONK) vs Madison Square Garden Entertainment Corp. (MSGE) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | MSGE | -1.7% revenue growth vs FWONK's -100.0% |
| Value | FWONK | Lower P/E (52.1x vs 52.7x) |
| Quality / Margins | FWONK | 43.8% net margin vs MSGE's 5.1% |
| Stability / Safety | FWONK | Beta 0.51 vs MSGE's 0.99 |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | MSGE | +82.9% vs FWONK's -5.0% |
| Efficiency (ROA) | FWONK | 42.6% ROA vs MSGE's 2.8% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Formula One Group is the commercial rights holder for the global Formula 1 motorsport championship. It generates revenue primarily from race promotion fees (about 30%), media rights sales (about 35%), and sponsorship deals (about 20%), with the remainder from hospitality and other sources. Its key moat is the exclusive, long-term commercial rights to the world's premier motorsport series — a globally recognized brand with high barriers to entry.
Madison Square Garden Entertainment is a live entertainment company that produces and hosts concerts, sporting events, and theatrical productions in iconic venues like Madison Square Garden and Radio City Music Hall. It generates revenue primarily from ticket sales, venue rentals, and food/beverage concessions at its events — supplemented by operating high-end dining and nightlife venues under brands like Tao and Marquee. The company's key advantage is its ownership of legendary, irreplaceable venues in prime New York City locations that attract top-tier talent and command premium pricing.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
FWONK leads in 3 of 6 categories — strongest in Valuation Metrics and Profitability & Efficiency. 2 categories are tied.
Financial Metrics (TTM)
FWONK and MSGE operate at a comparable scale, with $1.0B and $1.0B in trailing revenue. FWONK is the more profitable business, keeping 43.8% of every revenue dollar as net income compared to MSGE's 5.1%. On growth, MSGE holds the edge at +12.9% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | FWONKFormula One Group | MSGEMadison Square Ga… |
|---|---|---|
| RevenueTrailing 12 months | $1.0B | $1.0B |
| EBITDAEarnings before interest/tax | $231M | $195M |
| Net IncomeAfter-tax profit | $449M | $52M |
| Free Cash FlowCash after capex | $279M | $207M |
| Gross MarginGross profit ÷ Revenue | -18.4% | +46.1% |
| Operating MarginEBIT ÷ Revenue | -3.4% | +13.5% |
| Net MarginNet income ÷ Revenue | +43.8% | +5.1% |
| FCF MarginFCF ÷ Revenue | +27.3% | +20.4% |
| Rev. Growth (YoY)Latest quarter vs prior year | -2.6% | +12.9% |
| EPS Growth (YoY)Latest quarter vs prior year | +100.0% | +24.4% |
Valuation Metrics
| Metric | FWONKFormula One Group | MSGEMadison Square Ga… |
|---|---|---|
| Market CapShares × price | $20.4B | $2.6B |
| Enterprise ValueMkt cap + debt − cash | $19.4B | $3.7B |
| Trailing P/EPrice ÷ TTM EPS | — | 82.00x |
| Forward P/EPrice ÷ next-FY EPS est. | 52.13x | 52.74x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | — | 20.62x |
| Price / SalesMarket cap ÷ Revenue | — | 2.71x |
| Price / BookPrice ÷ Book value/share | — | — |
| Price / FCFMarket cap ÷ FCF | 22.48x | 27.41x |
Profitability & Efficiency
On the Piotroski fundamental quality scale (0–9), MSGE scores 6/9 vs FWONK's 3/9, reflecting solid financial health.
| Metric | FWONKFormula One Group | MSGEMadison Square Ga… |
|---|---|---|
| ROE (TTM)Return on equity | — | +144.2% |
| ROA (TTM)Return on assets | +42.6% | +2.8% |
| ROICReturn on invested capital | — | +8.5% |
| ROCEReturn on capital employed | -0.5% | +11.0% |
| Piotroski ScoreFundamental quality 0–9 | 3 | 6 |
| Debt / EquityFinancial leverage | — | — |
| Net DebtTotal debt minus cash | -$1.1B | $1.2B |
| Cash & Equiv.Liquid assets | $1.1B | $43M |
| Total DebtShort + long-term debt | $0 | $1.2B |
| Interest CoverageEBIT ÷ Interest expense | 3.35x | 3.08x |
Total Returns (with DRIP)
A $10,000 investment in FWONK five years ago would be worth $20,766 today (with dividends reinvested), compared to $5,752 for MSGE. Over the past 12 months, MSGE leads with a +82.9% total return vs FWONK's -5.0%. The 3-year compound annual growth rate (CAGR) favors FWONK at 11.6% vs MSGE's 1.4% — a key indicator of consistent wealth creation.
| Metric | FWONKFormula One Group | MSGEMadison Square Ga… |
|---|---|---|
| YTD ReturnYear-to-date | -6.6% | +16.2% |
| 1-Year ReturnPast 12 months | -5.0% | +82.9% |
| 3-Year ReturnCumulative with dividends | +39.1% | +4.3% |
| 5-Year ReturnCumulative with dividends | +107.7% | -42.5% |
| 10-Year ReturnCumulative with dividends | +269.5% | -28.7% |
| CAGR (3Y)Annualised 3-year return | +11.6% | +1.4% |
Risk & Volatility
FWONK is the less volatile stock with a 0.51 beta — it tends to amplify market swings less than MSGE's 0.99 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. MSGE currently trades 96.8% from its 52-week high vs FWONK's 83.8% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | FWONKFormula One Group | MSGEMadison Square Ga… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.51x | 0.99x |
| 52-Week HighHighest price in past year | $109.36 | $65.20 |
| 52-Week LowLowest price in past year | $75.26 | $28.29 |
| % of 52W HighCurrent price vs 52-week peak | +83.8% | +96.8% |
| RSI (14)Momentum oscillator 0–100 | 44.7 | 54.4 |
| Avg Volume (50D)Average daily shares traded | 1.5M | 276K |
Analyst Outlook
Wall Street rates FWONK as "Buy" and MSGE as "Buy". Consensus price targets imply 30.2% upside for FWONK (target: $119) vs 4.5% for MSGE (target: $66).
| Metric | FWONKFormula One Group | MSGEMadison Square Ga… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $119.25 | $66.00 |
| # AnalystsCovering analysts | 24 | 12 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | 1 | — |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +1.6% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | May 20 | Feb 26 | Change |
|---|---|---|---|
| Formula One Group (FWONK) | 100 | 278.59 | +178.6% |
| Madison Square Gard… (MSGE) | 90.02 | 69.98 | -22.3% |
Formula One Group (FWONK) returned +108% over 5 years vs Madison Square Gard… (MSGE)'s -42%. A $10,000 investment in FWONK 5 years ago would be worth $20,766 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Formula One Group (FWONK) | $0.00 | $0.00 | — |
| Madison Square Gard… (MSGE) | $989M | $943M | -4.7% |
Formula One Group's revenue grew from $0M (2016) to $0M (2025) — a 0.0% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2015 | 2025 | Change |
|---|---|---|---|
| Formula One Group (FWONK) | -3.6% | -0.8% | +77.5% |
| Madison Square Gard… (MSGE) | 0.7% | 4.0% | +469.2% |
Chart 4P/E Ratio History — 6 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Formula One Group (FWONK) | 27.8 | 101.8 | +266.2% |
| Madison Square Gard… (MSGE) | 14.7 | 70 | +376.2% |
Formula One Group has traded in a 27x–102x P/E range over 3 years; current trailing P/E is ~102x. Madison Square Garden Entertainment Corp. has traded in a 12x–70x P/E range over 4 years; current trailing P/E is ~82x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Formula One Group (FWONK) | 1.02 | 0 | -100.0% |
| Madison Square Gard… (MSGE) | 0.29 | 0.77 | +165.5% |
Formula One Group's EPS grew from $1.02 (2016) to $0.00 (2025) — a -100% CAGR.
Chart 6Free Cash Flow — 5 Years
Formula One Group generated $908M FCF in 2025 (+96% vs 2021). Madison Square Garden Entertainment Corp. generated $93M FCF in 2025 (+159% vs 2021).
FWONK vs MSGE: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is FWONK or MSGE a better buy right now?
Madison Square Garden Entertainment Corp. (MSGE) offers the better valuation at 82.0x trailing P/E (52.7x forward), making it the more compelling value choice. Analysts rate Formula One Group (FWONK) a "Buy" — based on 24 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — FWONK or MSGE?
On forward P/E, Formula One Group is actually cheaper at 52.1x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — FWONK or MSGE?
Over the past 5 years, Formula One Group (FWONK) delivered a total return of +107.7%, compared to -42.5% for Madison Square Garden Entertainment Corp. (MSGE). A $10,000 investment in FWONK five years ago would be worth approximately $21K today (assuming dividends reinvested). Over 10 years, the gap is even starker: FWONK returned +269.5% versus MSGE's -28.7%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — FWONK or MSGE?
By beta (market sensitivity over 5 years), Formula One Group (FWONK) is the lower-risk stock at 0.51β versus Madison Square Garden Entertainment Corp.'s 0.99β — meaning MSGE is approximately 95% more volatile than FWONK relative to the S&P 500.
05Which has better profit margins — FWONK or MSGE?
Formula One Group (FWONK) is the more profitable company, earning 43.8% net margin versus 4.0% for Madison Square Garden Entertainment Corp. — meaning it keeps 43.8% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: MSGE leads at 13.0% versus -3.4% for FWONK. At the gross margin level — before operating expenses — MSGE leads at 43.2%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is FWONK or MSGE more undervalued right now?
On forward earnings alone, Formula One Group (FWONK) trades at 52.1x forward P/E versus 52.7x for Madison Square Garden Entertainment Corp. — 0.6x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for FWONK: 30.2% to $119.25.
07Which pays a better dividend — FWONK or MSGE?
None of the stocks in this comparison currently pay a material dividend. All are effectively zero-yield and should be held for capital appreciation rather than income.
08Is FWONK or MSGE better for a retirement portfolio?
For long-horizon retirement investors, Formula One Group (FWONK) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.51), +269.5% 10Y return). Both have compounded well over 10 years (FWONK: +269.5%, MSGE: -28.7%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between FWONK and MSGE?
Both stocks operate in the Communication Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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