8 years of historical data (2018–2025) · Communication Services · Entertainment
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Madison Square Garden Entertainment Corp. trades at 82.0x earnings, 185% above its 5-year average of 28.8x, sitting at the 100th percentile of its historical range. Compared to the Communication Services sector median P/E of 15.1x, the stock trades at a premium of 442%. On a free-cash-flow basis, the stock trades at 27.4x P/FCF, 31% above the 5-year average of 20.9x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.6B | $1.9B | $1.7B | $1.7B | $2.4B | $2.0B | $1.8B | — | — |
| Enterprise Value | $3.7B | $3.1B | $2.7B | $2.5B | $3.3B | $2.4B | $1.2B | — | — |
| P/E Ratio → | 82.00 | 51.91 | 11.53 | 22.87 | — | — | 10.50 | — | — |
| P/S Ratio | 2.71 | 2.05 | 1.73 | 2.02 | 3.62 | 24.81 | 3.08 | — | — |
| P/B Ratio | — | — | — | — | — | 4.07 | 0.63 | — | — |
| P/FCF | 27.41 | 20.75 | 19.10 | 14.24 | 29.70 | — | 957.14 | — | — |
| P/OCF | 22.13 | 16.75 | 14.95 | 12.65 | 24.78 | — | 57.20 | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
Madison Square Garden Entertainment Corp.'s enterprise value stands at 20.6x EBITDA, 16% below its 5-year average of 24.7x. The Communication Services sector median is 7.5x, placing the stock at a 176% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.28 | 2.81 | 2.99 | 4.99 | 29.92 | 1.98 | — | — |
| EV / EBITDA | 20.62 | 17.18 | 16.28 | 14.27 | 51.05 | — | 3.69 | — | — |
| EV / EBIT | 30.38 | 26.62 | 21.40 | 19.62 | 8838.42 | — | 4.27 | — | — |
| EV / FCF | — | 33.19 | 31.01 | 21.10 | 41.00 | — | 614.57 | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Madison Square Garden Entertainment Corp. earns an operating margin of 13.0%. ROIC of 8.5% represents adequate returns on invested capital.
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 43.2% | 43.2% | 43.0% | 41.3% | 39.6% | 7.3% | 34.9% | 36.1% | 35.8% |
| Operating Margin | 13.0% | 13.0% | 11.7% | 12.3% | -0.9% | -290.0% | 38.5% | -4.3% | -3.2% |
| Net Profit Margin | 4.0% | 4.0% | 15.0% | 9.0% | -20.4% | -267.2% | 29.4% | -1.7% | 0.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | -53.6% | -13.0% | 6.2% | -0.7% | 0.3% |
| ROA | 2.3% | 2.3% | 9.8% | 5.2% | -8.3% | -8.1% | 4.9% | -0.5% | 0.2% |
| ROIC | 8.5% | 8.5% | 9.5% | 9.5% | -0.5% | -11.3% | 8.8% | -2.2% | -1.6% |
| ROCE | 11.0% | 11.0% | 11.7% | 11.4% | -0.5% | -10.6% | 7.4% | -1.6% | -1.1% |
Solvency and debt-coverage ratios — lower is generally safer
Madison Square Garden Entertainment Corp. carries a Debt/EBITDA ratio of 6.7x, which is highly leveraged (93% above the sector average of 3.5x). Net debt stands at $1.2B ($1.2B total debt minus $43M cash). Interest coverage of just 2.4x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | — | 1.48 | 0.09 | 0.02 | 0.04 |
| Debt / EBITDA | 6.68 | 6.68 | 6.45 | 5.06 | 14.98 | — | 0.83 | 0.86 | 1.31 |
| Net Debt / Equity | — | — | — | — | — | 0.84 | -0.22 | 0.00 | 0.00 |
| Net Debt / EBITDA | 6.44 | 6.44 | 6.25 | 4.64 | 14.07 | — | -2.06 | 0.00 | 0.00 |
| Debt / FCF | — | 12.44 | 11.91 | 6.86 | 11.30 | — | -342.57 | — | — |
| Interest Coverage | 2.42 | 2.42 | 1.93 | 2.02 | -0.11 | -7.03 | 530.19 | -2.99 | -2.57 |
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.47x is below 1.0, meaning current liabilities exceed current assets. The current ratio has declined from 0.55x to 0.47x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.47 | 0.47 | 0.43 | 0.55 | 0.63 | 1.27 | 2.80 | 2.84 | 2.80 |
| Quick Ratio | 0.46 | 0.46 | 0.43 | 0.54 | 0.62 | 1.26 | 2.80 | 2.84 | 2.80 |
| Cash Ratio | 0.09 | 0.09 | 0.07 | 0.14 | 0.11 | 0.74 | 2.44 | 2.51 | 2.53 |
| Asset Turnover | — | 0.56 | 0.62 | 0.61 | 0.43 | 0.05 | 0.16 | 0.32 | 0.30 |
| Inventory Turnover | 142.80 | 142.80 | 141.32 | 195.51 | 143.46 | 33.97 | — | — | — |
| Days Sales Outstanding | — | 37.52 | 39.03 | 61.99 | 114.47 | 759.78 | 35.70 | 28.80 | 30.42 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Madison Square Garden Entertainment Corp. returns 1.6% to shareholders annually primarily through share buybacks. The earnings yield of 1.2% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.2% | 1.9% | 8.7% | 4.4% | — | — | 9.5% | — | — |
| FCF Yield | 3.6% | 4.8% | 5.2% | 7.0% | 3.4% | — | 0.1% | — | — |
| Buyback Yield | 1.6% | 2.1% | 3.1% | 1.5% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 1.6% | 2.1% | 3.1% | 1.5% | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $48M | $49M | $51M | $45M | $24M | $24M | $24M | $24M |
Compare MSGE with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| MSGEYou | $3B | 82.0 | 20.6 | 27.4 | 43.2% | 13.0% | — | 8.5% | 6.7 |
| LYV | $38B | -675.6 | 17.8 | 114.4 | — | 5.0% | 34.9% | 343.5% | 1.4 |
| TKO | $26B | 99.1 | 22.1 | 20.2 | -43.0% | 17.6% | 5.9% | 5.3% | 3.1 |
| FWONK | $20B | — | — | 22.5 | — | — | — | — | — |
| LLYVK | $6B | — | — | 7.0 | — | — | — | -29.8% | — |
| BATRA | $3B | -130.8 | 35.1 | — | 19.9% | 2.3% | -4.3% | 1.0% | 9.1 |
| BATRK | $2B | -118.1 | 32.2 | — | 19.9% | 2.3% | -4.3% | 1.0% | 9.1 |
| MSGS | $2B | -356.6 | 140.6 | 17.1 | 27.0% | 1.4% | — | 1.5% | 65.7 |
| MANU | $1B | -70.5 | 6.8 | 26.8 | 82.3% | -2.8% | -19.5% | -2.0% | 3.3 |
| SPHR | $817M | -21.0 | 53.0 | — | 21.7% | -21.7% | -8.3% | -5.0% | 45.3 |
| TDIC | $6M | 6.3 | 12.0 | — | 26.1% | 1.7% | 112.5% | 12.2% | 3.8 |
| Communication Services Median | — | 15.1 | 7.5 | 10.5 | 51.2% | -0.7% | 2.4% | 1.7% | 3.5 |
Peers based on L4 peer group classification. Compare multiple stocks →
Includes 30+ ratios · 8 years · Updated daily
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Start ComparisonMadison Square Garden Entertainment Corp.'s current P/E ratio is 82.0x. The historical average is 24.2x. This places it at the 100th percentile of its historical range.
Madison Square Garden Entertainment Corp.'s current EV/EBITDA is 20.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 20.5x.
Based on historical data, Madison Square Garden Entertainment Corp. is trading at a P/E of 82.0x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Madison Square Garden Entertainment Corp. has 43.2% gross margin and 13.0% operating margin. Operating margin between 10-20% is typical for established companies.
Madison Square Garden Entertainment Corp.'s Debt/EBITDA ratio is 6.7x, indicating high leverage. A ratio above 4x may signal elevated financial risk.