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Madison Square Garden Entertainment Corp. (MSGE) 10-Year Financial Performance & Capital Metrics

MSGE • • Industrial / General
Communication ServicesEntertainmentLive Events & Venue OperationsLive Music & Concert Promoters
AboutMadison Square Garden Entertainment Corp. engages in the entertainment business. It produces, presents, or hosts various live entertainment events, including concerts, family shows, and special events, as well as sporting events, such as professional boxing, college basketball and hockey, professional bull riding, mixed martial arts, and esports and wrestling in its venues, including The Garden, Hulu Theater, Radio City Music Hall, and the Beacon Theatre in New York City; and The Chicago Theatre. The company also operates 70 entertainment dining and nightlife venues spanning 20 markets across five continents under the Tao, Marquee, Lavo, Beauty & Essex, Cathédrale, Hakkasan, and Omnia brand names; and creates and operates New England's premier music festival. In addition, it features the Radio City Rockettes, which serves as the star for its Christmas Spectacular at Radio City Music Hall. The company was founded in 2006 and is based in New York, New York.Show more
  • Revenue $943M -1.7%
  • EBITDA $180M +8.5%
  • Net Income $37M -74.1%
  • EPS (Diluted) 0.77 -74.1%
  • Gross Margin 43.18% +0.5%
  • EBITDA Margin 19.08% +10.4%
  • Operating Margin 12.95% +11.0%
  • Net Margin 3.97% -73.6%
  • ROE -
  • ROIC 8.49% -10.5%
  • Debt/Equity -
  • Interest Coverage 2.42 +25.2%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Momentum leader: RS Rating 83 (top 17%)
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Strong 5Y sales CAGR of 10.0%
  • ✓Trading near 52-week high

✗Weaknesses

  • ✗Profits declining 26.3% over 5 years

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y10.03%
3Y12.99%
TTM0.68%

Profit (Net Income) CAGR

10Y-
5Y-26.26%
3Y-
TTM-80.02%

EPS CAGR

10Y-
5Y-35.94%
3Y-
TTM-80.86%

ROCE

10Y Avg3.47%
5Y Avg4.61%
3Y Avg11.39%
Latest11.03%

Peer Comparison

Live Music & Concert Promoters
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
MSGEMadison Square Garden Entertainment Corp.2.4B59.4277.17-1.72%3.65%3.88%
IMAXIMAX Corporation1.95B36.3075.63-6.04%10.48%9.06%1.52%0.74
LYVLive Nation Entertainment, Inc.33.84B145.7353.191.89%3.66%45.37%3.1%4.25
CNKCinemark Holdings, Inc.2.87B24.4611.87-0.56%4.91%39.45%10.97%5.73
RDIReading International, Inc.23.56M1.12-0.71-5.48%-8.23%-250.31%
AMCAMC Entertainment Holdings, Inc.820.71M1.60-1.51-3.64%-13.16%
RDIBReading International, Inc.19.29M11.48-7.27-5.48%-6.54%-250.31%
SPHRSphere Entertainment Co.2.74B96.44-16.98-14.68%-6.97%0.63

Profit & Loss

Jun 2018Jun 2019Jun 2020Jun 2021Jun 2022Jun 2023Jun 2024Jun 2025
Sales/Revenue+988.99M1.05B584.6M81.81M653.49M851.5M959.26M942.73M
Revenue Growth %-0.06%-0.44%-0.86%6.99%0.3%0.13%-0.02%
Cost of Goods Sold+635.22M670.64M380.53M75.85M394.79M499.93M547.05M535.64M
COGS % of Revenue0.64%0.64%0.65%0.93%0.6%0.59%0.57%0.57%
Gross Profit+353.77M378.27M204.07M5.96M258.7M351.57M412.22M407.09M
Gross Margin %0.36%0.36%0.35%0.07%0.4%0.41%0.43%0.43%
Gross Profit Growth %-0.07%-0.46%-0.97%42.4%0.36%0.17%-0.01%
Operating Expenses+385.05M423.87M-21.26M243.25M264.34M246.56M300.27M285M
OpEx % of Revenue0.39%0.4%-0.04%2.97%0.4%0.29%0.31%0.3%
Selling, General & Admin273M314.52M137.94M157.24M188.79M180.22M232.19M214.97M
SG&A % of Revenue0.28%0.3%0.24%1.92%0.29%0.21%0.24%0.23%
Research & Development00000000
R&D % of Revenue--------
Other Operating Expenses-3.1M-6.06M-159.19M86.01M75.55M66.34M68.08M70.03M
Operating Income+-31.28M-45.6M225.33M-237.29M-5.65M105.01M111.94M122.09M
Operating Margin %-0.03%-0.04%0.39%-2.9%-0.01%0.12%0.12%0.13%
Operating Income Growth %--0.46%5.94%-2.05%0.98%19.59%0.07%0.09%
EBITDA+80.78M63.75M313.46M-165.71M63.89M178.28M165.82M179.86M
EBITDA Margin %0.08%0.06%0.54%-2.03%0.1%0.21%0.17%0.19%
EBITDA Growth %--0.21%3.92%-1.53%1.39%1.79%-0.07%0.08%
D&A (Non-Cash Add-back)112.06M109.34M88.13M71.58M69.53M73.27M53.88M57.77M
EBIT-25.99M-9.83M271.27M-222.86M369K129.64M126.15M116.07M
Net Interest Income+9.2M14.9M8.38M-27.29M-45.96M-44.63M-54.98M-48.18M
Interest Income21.35M30.16M8.8M6.44M7.15M7.24M2.98M2.33M
Interest Expense12.15M15.26M425K33.73M53.11M51.87M57.95M50.51M
Other Income/Expense2.34M22.71M45.51M23.33M-130.62M-27.24M-59.65M-56.53M
Pretax Income+-28.94M-29.7M270.84M-213.96M-136.27M77.77M52.29M65.56M
Pretax Margin %-0.03%-0.03%0.46%-2.62%-0.21%0.09%0.05%0.07%
Income Tax+-30.83M443K100.18M5.35M-70K1.73M-92.01M28.13M
Effective Tax Rate %-0.24%0.6%0.63%1.02%0.98%0.98%2.76%0.57%
Net Income+6.9M-17.89M171.73M-218.61M-133.34M76.6M144.3M37.43M
Net Margin %0.01%-0.02%0.29%-2.67%-0.2%0.09%0.15%0.04%
Net Income Growth %--3.59%10.6%-2.27%0.39%1.57%0.88%-0.74%
Net Income (Continuing)6.9M-17.89M170.66M-219.31M-136.2M76.04M144.3M37.43M
Discontinued Operations00000000
Minority Interest88.19M81.42M32.8M2.75M-114K000
EPS (Diluted)+0.29-0.757.14-9.07-2.611.472.970.77
EPS Growth %--3.59%10.52%-2.27%0.71%1.56%1.02%-0.74%
EPS (Basic)0.29-0.757.15-9.07-2.611.482.990.78
Diluted Shares Outstanding23.99M23.99M24.04M24.17M44.9M51.05M48.59M48.33M
Basic Shares Outstanding23.99M23.99M24.01M24.17M44.9M51.05M48.27M48.03M
Dividend Payout Ratio--------

Balance Sheet

Jun 2018Jun 2019Jun 2020Jun 2021Jun 2022Jun 2023Jun 2024Jun 2025
Total Current Assets+1.35B1.35B1.43B544.82M341.45M295.28M219.08M237.13M
Cash & Short-Term Investments1.23B1.19B1.24B317.82M58.1M76.09M33.26M43.02M
Cash Only1.23B1.08B906.55M317.82M58.1M76.09M33.26M43.02M
Short-Term Investments0108.42M337.19M00000
Accounts Receivable82.42M82.77M57.18M170.3M204.94M144.62M102.57M96.92M
Days Sales Outstanding30.4228.835.7759.78114.4761.9939.0337.52
Inventory0002.23M2.75M2.56M3.87M3.75M
Days Inventory Outstanding---10.752.541.872.582.56
Other Current Assets26.9M39.43M63.44M7.9M10.59M13.43M5.43M4.46M
Total Non-Current Assets+1.93B1.97B2.29B1.15B1.19B1.11B1.33B1.43B
Property, Plant & Equipment1.23B1.35B1.87B838.69M967.23M864.68M1.02B1.11B
Fixed Asset Turnover0.81x0.78x0.31x0.10x0.68x0.98x0.94x0.85x
Goodwill165.56M165.56M74.31M69.04M69.04M69.04M69.04M69.04M
Intangible Assets297.95M279.81M214.23M71.28M65.44M63.8M63.8M63.8M
Long-Term Investments209.95M84.56M52.62M45.97M36.42M35.07M6.32M7.09M
Other Non-Current Assets35.96M89.96M85.1M127.49M47.11M73.29M103.96M133.09M
Total Assets+3.29B3.32B3.72B1.7B1.53B1.4B1.55B1.67B
Asset Turnover0.30x0.32x0.16x0.05x0.43x0.61x0.62x0.56x
Asset Growth %-0.01%0.12%-0.54%-0.1%-0.08%0.11%0.08%
Total Current Liabilities+483.86M474.05M509.97M429.25M545.09M540.64M505.82M502.4M
Accounts Payable28.29M23.97M17.26M2.46M11.24M15.63M26.59M12.1M
Days Payables Outstanding16.2513.0516.5511.8610.3911.4117.748.25
Short-Term Debt4.37M6.04M5.43M6.5M8.76M16.25M16.25M30.47M
Deferred Revenue (Current)1000K1000K01000K1000K1000K1000K1000K
Other Current Liabilities00239.6M00000
Current Ratio2.80x2.84x2.80x1.27x0.63x0.55x0.43x0.47x
Quick Ratio2.80x2.84x2.80x1.26x0.62x0.54x0.43x0.46x
Cash Conversion Cycle---758.67106.6252.4523.8731.83
Total Non-Current Liabilities+237.61M188.25M334.8M769.39M983.2M929.99M1.07B1.18B
Long-Term Debt101.33M48.56M28.13M611.28M654.91M630.18M599.25M568.78M
Capital Lease Obligations00174.22M77.21M254.11M219.96M427.01M566.48M
Deferred Tax Liabilities23.34M22.97M023.27M23.25M23.52M00
Other Non-Current Liabilities49.54M59.52M132.45M57.62M50.92M56.33M43.79M45.48M
Total Liabilities721.47M662.29M844.77M1.2B1.53B1.47B1.58B1.68B
Total Debt+105.7M54.6M261.16M735.92M956.79M902.92M1.07B1.2B
Net Debt00-645.39M418.1M898.69M826.83M1.04B1.16B
Debt / Equity0.04x0.02x0.09x1.48x----
Debt / EBITDA1.31x0.86x0.83x-14.98x5.06x6.45x6.68x
Net Debt / EBITDA---2.06x-14.07x4.64x6.25x6.44x
Interest Coverage-2.57x-2.99x530.19x-7.03x-0.11x2.02x1.93x2.42x
Total Equity+2.57B2.65B2.87B498.65M-1.59M-69.47M-23.16M-13.3M
Equity Growth %-0.03%0.08%-0.83%-1%-42.72%0.67%0.43%
Book Value per Share106.96110.60119.5520.63-0.04-1.36-0.48-0.28
Total Shareholders' Equity2.48B2.57B2.84B495.9M-1.48M-69.47M-23.16M-13.3M
Common Stock2.53B2.62B240K529.5M33.27M519K525K530K
Retained Earnings-46.92M-46.92M141.94M00-28.7M115.6M153.03M
Treasury Stock00000-25M-140.51M-180.2M
Accumulated OCI-46.92M-46.92M-51.86M-33.6M-34.74M-34.02M-32.26M-31.5M
Minority Interest88.19M81.42M32.8M2.75M-114K000

Cash Flow

Jun 2018Jun 2019Jun 2020Jun 2021Jun 2022Jun 2023Jun 2024Jun 2025
Cash from Operations+144.38M91.72M31.53M-148.12M95.35M135.69M111.27M115.3M
Operating CF Margin %0.15%0.09%0.05%-1.81%0.15%0.16%0.12%0.12%
Operating CF Growth %--0.36%-0.66%-5.7%1.64%0.42%-0.18%0.04%
Net Income1.89M-30.14M170.66M-219.31M-136.2M76.04M144.3M37.43M
Depreciation & Amortization112.06M109.34M88.13M71.58M69.53M60.46M53.88M57.77M
Stock-Based Compensation27.29M35.4M26.11M40.66M39.36M31.81M31.17M27.69M
Deferred Taxes-31.27M-371K17.43M566K225K720K-92.2M14.84M
Other Non-Cash Items6.38M4.82M-129.81M-46.85M88.84M-7.49M5.64M21.44M
Working Capital Changes28.04M-27.33M-140.99M5.24M33.6M-25.86M-31.52M-43.87M
Change in Receivables-4.07M-345K8.4M-18.82M-34.86M38.84M-13.94M9.59M
Change in Inventory6.63M-26.45M000-45.22M00
Change in Payables5.31M-4.31M-9.3M-9.52M87.56M-696K-55.73M-14.49M
Cash from Investing+-169.62M-228.06M276.39M-10.34M45.44M30.3M-62.37M-23.69M
Capital Expenditures-187.36M-184M-29.64M-10.31M-15.8M-15.19M-24.18M-22.22M
CapEx % of Revenue0.19%0.18%0.05%0.13%0.02%0.02%0.03%0.02%
Acquisitions--------
Investments--------
Other Investing35.1M-188.41M306.03M-24K61.24M-163.55M-66.66M-1.53M
Cash from Financing+15.36M-8.62M-315.38M473.49M-396.29M-144.22M-99.69M-81.62M
Debt Issued (Net)--------
Equity Issued (Net)--------
Dividends Paid00000000
Share Repurchases--------
Other Financing15.36M-8.62M-315.38M-153.76M-428.64M-99.39M-15.17M-25.68M
Net Change in Cash--------
Free Cash Flow+-42.98M-92.28M1.88M-158.43M79.55M120.51M87.08M93.08M
FCF Margin %-0.04%-0.09%0%-1.94%0.12%0.14%0.09%0.1%
FCF Growth %--1.15%1.02%-85.09%1.5%0.51%-0.28%0.07%
FCF per Share-1.79-3.850.08-6.551.772.361.791.93
FCF Conversion (FCF/Net Income)20.93x-5.13x0.18x0.68x-0.72x1.77x0.77x3.08x
Interest Paid00000000
Taxes Paid00000000

Key Ratios

Metric20182019202020212022202320242025
Return on Equity (ROE)0.27%-0.69%6.21%-12.96%-53.65%---
Return on Invested Capital (ROIC)-1.62%-2.23%8.77%-11.31%-0.47%9.52%9.48%8.49%
Gross Margin35.77%36.06%34.91%7.29%39.59%41.29%42.97%43.18%
Net Margin0.7%-1.71%29.38%-267.22%-20.4%9%15.04%3.97%
Debt / Equity0.04x0.02x0.09x1.48x----
Interest Coverage-2.57x-2.99x530.19x-7.03x-0.11x2.02x1.93x2.42x
FCF Conversion20.93x-5.13x0.18x0.68x-0.72x1.77x0.77x3.08x
Revenue Growth-6.06%-44.27%-86.01%698.77%30.3%12.66%-1.72%

Revenue by Segment

202020212022202320242025
Entertainment-----712.29M
Entertainment Growth------
Ticketing And Venue License Fee Revenues----340.26M453.24M
Ticketing And Venue License Fee Revenues Growth-----33.21%
Sponsorship and Signage, Suite And Advertising Commission Revenues-----252.66M
Sponsorship and Signage, Suite And Advertising Commission Revenues Growth------
Food, Beverage And Merchandise Revenues----66.7M150.51M
Food, Beverage And Merchandise Revenues Growth-----125.64%
Product and Service, Other11.8M2.84M2.99M--6.39M
Product and Service, Other Growth--75.91%5.24%---
Media Networks Revenue--608.15M571.22M529.73M-
Media Networks Revenue Growth----6.07%-7.26%-
Ticketing And Venue License Fee Revenue310.97M8.31M250.09M---
Ticketing And Venue License Fee Revenue Growth--97.33%2909.17%---
Sponsorship And Signage, Suite, And Advertising Commission Revenues199M43.52M196.8M---
Sponsorship And Signage, Suite, And Advertising Commission Revenues Growth--78.13%352.24%---
Food, Beverage, And Merchandise Revenue62.34M3.08M109.92M---
Food, Beverage, And Merchandise Revenue Growth--95.06%3470.99%---

Frequently Asked Questions

Valuation & Price

Madison Square Garden Entertainment Corp. (MSGE) has a price-to-earnings (P/E) ratio of 77.2x. This suggests investors expect higher future growth.

Growth & Financials

Madison Square Garden Entertainment Corp. (MSGE) reported $962.3M in revenue for fiscal year 2025. This represents a 3% decrease from $989.0M in 2018.

Madison Square Garden Entertainment Corp. (MSGE) saw revenue decline by 1.7% over the past year.

Yes, Madison Square Garden Entertainment Corp. (MSGE) is profitable, generating $35.1M in net income for fiscal year 2025 (4.0% net margin).

Dividend & Returns

Madison Square Garden Entertainment Corp. (MSGE) generated $140.2M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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