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Motorsport Games Inc. (MSGM) 10-Year Financial Performance & Capital Metrics

MSGM • • Industrial / General
TechnologyGaming & MultimediaGame Development & PublishingAAA Game Publishers
AboutMotorsport Games Inc. develops and publishes multi-platform racing video games in the United States. It operates through Gaming and Esports segments. The company offers video games for game consoles, personal computer, and mobile platforms through various retail and digital channels, including full-game and downloadable content. It also organizes and facilitates esports tournaments, competitions, and events for its licensed racing games, as well as on behalf of third-party racing game developers and publishers. The company sells its video game products through various retail and digital channels. Motorsport Games Inc. was founded in 2018 and is headquartered in Miami, Florida. Motorsport Games Inc. operates as a subsidiary of Motorsport Network LLC.Show more
  • Revenue $9M +25.7%
  • EBITDA $840K +105.9%
  • Net Income -$3M +80.8%
  • EPS (Diluted) -0.94 +81.4%
  • Gross Margin 62.87% +32.1%
  • EBITDA Margin 9.66% +104.7%
  • Operating Margin -20.14% +91.5%
  • Net Margin -31.69% +84.7%
  • ROE -166.06% +76.9%
  • ROIC -255.5% +73.6%
  • Debt/Equity 0.04 -59.3%
  • Interest Coverage -14.49 +31.6%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Efficient asset utilization: 1.4x turnover

✗Weaknesses

  • ✗Negative free cash flow
  • ✗Sales declining 6.0% over 5 years
  • ✗Shares diluted 13.4% in last year
  • ✗Trading more than 30% below 52-week high

* 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-
5Y-6.02%
3Y-16.78%
TTM11.38%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM-46.31%

EPS CAGR

10Y-
5Y-
3Y-
TTM-92.99%

ROCE

10Y Avg-131.12%
5Y Avg-166.14%
3Y Avg-224.66%
Latest-102.54%

Peer Comparison

AAA Game Publishers
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
EAElectronic Arts Inc.51.06B204.1548.26-1.31%12.14%14.75%3.64%0.35
NTESNetEase, Inc.86.18B136.102.961.77%32.45%22.55%43.48%0.09
MSGMMotorsport Games Inc.17.27M3.40-3.6225.73%23.71%32.88%0.04
TTWOTake-Two Interactive Software, Inc.45.15B244.34-9.555.31%-64.26%-116.47%1.92

Profit & Loss

Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+14.76M11.85M19.05M15.08M10.32M6.91M8.69M
Revenue Growth %--0.2%0.61%-0.21%-0.32%-0.33%0.26%
Cost of Goods Sold+5.6M4.89M6.6M7.53M4.96M3.62M3.23M
COGS % of Revenue0.38%0.41%0.35%0.5%0.48%0.52%0.37%
Gross Profit+9.16M6.96M12.45M7.55M5.36M3.29M5.46M
Gross Margin %0.62%0.59%0.65%0.5%0.52%0.48%0.63%
Gross Profit Growth %--0.24%0.79%-0.39%-0.29%-0.39%0.66%
Operating Expenses+9.85M12.14M12.45M42.07M40.39M19.66M7.21M
OpEx % of Revenue0.67%1.02%0.65%2.79%3.91%2.85%0.83%
Selling, General & Admin6.05M6.38M7.74M31.85M19.94M11.06M7.62M
SG&A % of Revenue0.41%0.54%0.41%2.11%1.93%1.6%0.88%
Research & Development3.79M4.78M4.65M9.62M10.42M7.24M3.38M
R&D % of Revenue0.26%0.4%0.24%0.64%1.01%1.05%0.39%
Other Operating Expenses0976.64K61.58K597.3K10.04M1.37M-3.79M
Operating Income+-689.21K-5.18M1.15K-34.53M-35.03M-16.37M-1.75M
Operating Margin %-0.05%-0.44%0%-2.29%-3.39%-2.37%-0.2%
Operating Income Growth %--6.51%1%-30102.71%-0.01%0.53%0.89%
EBITDA+-227.72K-4.31M721.33K-32.74M-32.96M-14.26M839.59K
EBITDA Margin %-0.02%-0.36%0.04%-2.17%-3.19%-2.06%0.1%
EBITDA Growth %--17.95%1.17%-46.39%-0.01%0.57%1.06%
D&A (Non-Cash Add-back)461.49K861.87K720.18K1.79M2.06M2.12M2.59M
EBIT-1.13M-5.76M37.64K-33.2M-35.69M-13.55M-2.93M
Net Interest Income+035.73K-717.5K-504.16K-1.15M-772.99K-120.76K
Interest Income26.25K35.73K1.34K0000
Interest Expense00718.84K504.16K1.15M772.99K120.76K
Other Income/Expense8.38K-579.45K-681K821.91K-1.81M2.05M-1.3M
Pretax Income+-1.15M-5.76M-679.85K-33.7M-36.84M-14.32M-3.05M
Pretax Margin %-0.08%-0.49%-0.04%-2.24%-3.57%-2.07%-0.35%
Income Tax+-2.32K000000
Effective Tax Rate %1.74%0.62%2.58%0.98%0.98%1%0.9%
Net Income+-2.01M-3.56M-1.76M-33.16M-35.99M-14.32M-2.75M
Net Margin %-0.14%-0.3%-0.09%-2.2%-3.49%-2.07%-0.32%
Net Income Growth %--0.77%0.51%-17.88%-0.09%0.6%0.81%
Net Income (Continuing)-1.15M-5.76M-679.85K-33.7M-36.84M-14.32M-3.05M
Discontinued Operations0000000
Minority Interest8.87M6.68M2.65M1.26M369.69K1.05M729.74K
EPS (Diluted)+-1.15-1.69-1.76-29.10-30.73-5.06-0.94
EPS Growth %--0.47%-0.04%-15.53%-0.06%0.84%0.81%
EPS (Basic)-1.15-1.69-1.76-29.10-30.73-5.06-0.94
Diluted Shares Outstanding1.75M1.75M1.03M1.17M1.17M2.58M2.92M
Basic Shares Outstanding1.75M1.75M1.03M1.17M1.17M2.58M2.92M
Dividend Payout Ratio-------

Balance Sheet

Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+8.7M7.13M10.47M24.62M4.04M3.52M2.8M
Cash & Short-Term Investments3.41M1.96M3.99M17.82M979.31K1.68M859.27K
Cash Only3.41M1.96M3.99M17.82M979.31K1.68M859.27K
Short-Term Investments0000000
Accounts Receivable5.2M5.09M5.98M5.63M2.02M735.84K1.45M
Days Sales Outstanding128.71156.84114.52136.2671.2638.8760.79
Inventory0000000
Days Inventory Outstanding-------
Other Current Assets00001.05M1.11M490.22K
Total Non-Current Assets+6.97M5.65M6.91M26.08M14.85M6.24M3.47M
Property, Plant & Equipment70.73K127.41K162.15K727.09K1.49M445K106.44K
Fixed Asset Turnover208.62x93.02x117.46x20.73x6.91x15.53x81.62x
Goodwill712.73K137.72K137.72K4.87M000
Intangible Assets6.14M5.33M5.57M20.49M13.36M5.8M3.37M
Long-Term Investments0000000
Other Non-Current Assets49.78K55.36K1.05M0000
Total Assets+15.67M12.78M17.39M50.7M18.9M9.76M6.27M
Asset Turnover0.94x0.93x1.10x0.30x0.55x0.71x1.39x
Asset Growth %--0.18%0.36%1.92%-0.63%-0.48%-0.36%
Total Current Liabilities+6.3M9.17M14.91M9.12M13.32M7.59M5.02M
Accounts Payable832.14K266.85K705.95K1.78M2.37M813.66K2.98M
Days Payables Outstanding54.2419.9239.0786.52174.5682.03336.76
Short-Term Debt4.48M8.05M10.85M119.02K000
Deferred Revenue (Current)000523.8K311.94K270.85K390.46K
Other Current Liabilities275.15K-8.05M-10.85M3.31M3.79M5.2M959.96K
Current Ratio1.38x0.78x0.70x2.70x0.30x0.46x0.56x
Quick Ratio1.38x0.78x0.70x2.70x0.30x0.46x0.56x
Cash Conversion Cycle-------
Total Non-Current Liabilities+00856.69K3.6M3.67M76.76K20.44K
Long-Term Debt0000000
Capital Lease Obligations0000617.29K45.66K16.31K
Deferred Tax Liabilities0000000
Other Non-Current Liabilities00856.69K3.6M3.06M31.1K4.13K
Total Liabilities6.3M9.17M15.77M12.72M16.99M7.67M5.04M
Total Debt+4.48M8.05M10.85M119.02K997.83K198.67K47.41K
Net Debt1.07M6.09M6.86M-17.7M18.52K-1.48M-811.86K
Debt / Equity0.48x2.23x6.72x0.00x0.52x0.10x0.04x
Debt / EBITDA--15.05x---0.06x
Net Debt / EBITDA--9.51x----0.97x
Interest Coverage--0.00x-68.48x-30.51x-21.18x-14.49x
Total Equity+9.37M3.61M1.62M37.98M1.9M2.09M1.23M
Equity Growth %--0.61%-0.55%22.51%-0.95%0.1%-0.41%
Book Value per Share5.372.071.5732.601.620.810.42
Total Shareholders' Equity499.79K-3.06M-1.03M36.72M1.53M1.04M496.26K
Common Stock499.79K001.86K187339385
Retained Earnings499.79K0-4.83M-37.99M-73.98M-89.04M-91.79M
Treasury Stock0000000
Accumulated OCI004.93K-945.38K-933.41K-1.85M-674.43K
Minority Interest8.87M6.68M2.65M1.26M369.69K1.05M729.74K

Cash Flow

Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+-902.22K-4.42M4.05M-20.94M-19.52M-12.92M-2.84M
Operating CF Margin %-0.06%-0.37%0.21%-1.39%-1.89%-1.87%-0.33%
Operating CF Growth %--3.9%1.92%-6.17%0.07%0.34%0.78%
Net Income-2.01M-5.76M-1.76M-33.7M-36.84M-13.05M-3.05M
Depreciation & Amortization461.49K861.87K720.18K1.79M2.06M2.12M2.59M
Stock-Based Compensation546.55K009.73M714.52K957.3K152.96K
Deferred Taxes0000000
Other Non-Cash Items2.41M1.24M1.49M3.26M12.93M-130.46K-2.46M
Working Capital Changes-444.19K-769.91K3.6M-2.01M1.62M-2.81M-71.49K
Change in Receivables-325.83K56.34K642.73K-3.25M1.23M1.58M-718.46K
Change in Inventory0-255.38K00000
Change in Payables-73.7K-565.29K-1.74M944.53K525.29K-1.64M2.17M
Cash from Investing+1.21M-592.63K-1.8M-14.39M-292.45K4.21M1.18M
Capital Expenditures-23.88K-108.29K-236.75K-754.3K-292.45K-31.65K-25.02K
CapEx % of Revenue0%0.01%0.01%0.05%0.03%0%0%
Acquisitions-------
Investments-------
Other Investing1.23M-484.33K0004.24M1.2M
Cash from Financing+3.69M3.56M-225.85K49.26M1.71M9.94M834.05K
Debt Issued (Net)-------
Equity Issued (Net)-------
Dividends Paid0000000
Share Repurchases-------
Other Financing3.69M3.56M-587K-14.17M2.04M-850K-50K
Net Change in Cash-------
Free Cash Flow+-926.1K-4.53M3.92M-21.7M-19.81M-13.71M-2.86M
FCF Margin %-0.06%-0.38%0.21%-1.44%-1.92%-1.98%-0.33%
FCF Growth %--3.89%1.86%-6.54%0.09%0.31%0.79%
FCF per Share-0.53-2.603.80-18.62-16.91-5.32-0.98
FCF Conversion (FCF/Net Income)0.45x1.24x-2.31x0.63x0.54x0.90x1.03x
Interest Paid000804.67K190.27K00
Taxes Paid0000000

Key Ratios

Metric2018201920202021202220232024
Return on Equity (ROE)-21.46%-54.92%-67.2%-167.49%-180.47%-717.4%-166.06%
Return on Invested Capital (ROIC)-4.95%-38.57%0.01%-180.08%-236.63%-968.71%-255.5%
Gross Margin62.05%58.75%65.37%50.06%51.96%47.6%62.87%
Net Margin-13.63%-30.08%-9.22%-219.97%-348.59%-207.29%-31.69%
Debt / Equity0.48x2.23x6.72x0.00x0.52x0.10x0.04x
Interest Coverage--0.00x-68.48x-30.51x-21.18x-14.49x
FCF Conversion0.45x1.24x-2.31x0.63x0.54x0.90x1.03x
Revenue Growth--19.69%60.71%-20.84%-31.51%-33.08%25.73%

Revenue by Segment

2020202120222023
Esports300.36K807.79K1.18M290.17K
Esports Growth-168.94%46.07%-75.41%
Gaming18.75M-9.14M-
Gaming Growth----

Frequently Asked Questions

Growth & Financials

Motorsport Games Inc. (MSGM) reported $9.4M in revenue for fiscal year 2024. This represents a 36% decrease from $14.8M in 2018.

Motorsport Games Inc. (MSGM) grew revenue by 25.7% over the past year. This is strong growth.

Yes, Motorsport Games Inc. (MSGM) is profitable, generating $2.2M in net income for fiscal year 2024 (-31.7% net margin).

Dividend & Returns

Motorsport Games Inc. (MSGM) has a return on equity (ROE) of -166.1%. Negative ROE indicates the company is unprofitable.

Motorsport Games Inc. (MSGM) had negative free cash flow of $0.1M in fiscal year 2024, likely due to heavy capital investments.

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