WSJ·Aug 14, 2026
MSG Sports Files to Spin Off Rangers from KnicksMSG Sports has filed a registration statement with regulators for a new company to manage the New York Rangers business separately from its New York Knicks operations.
Madison Square Garden Sports Corp. (MSGS) is experiencing a temporary revenue surge, with Q4 2026 revenue up 36.7% year-over-year, likely driven by the Knicks' championship cycle. However, this top-line momentum appears to be masking significant structural cha...
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue growth is currently strong, with Q4 2026 revenue of $278.7M representing a 36.7% year-over-year increase, but operating margin has compressed from 23.0% in Q4 2024 to 11.1% in Q4 2026, indicating cost growth is outpacing revenue gains.
Madison Square Garden Sports owns highly valuable and iconic sports franchises like the New York Knicks and New York Rangers, which have strong brand equity and scarcity value.
The company presents a compelling investment opportunity in the current market environment characterized by elevated valuations and macroeconomic uncertainty.
Multiple bullish investment theses from reputable sources like Danny's Substack and Valueinvestorsclub.com highlight the positive outlook for MSGS.
Trailing total returns as of 9/24/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q3 2026Latest Aug 12, 2026 | $1.19+87.4% vs $0.64 | $279M+22.4% vs $228M |
Q2 2026 May 8, 2026 | -$0.78-239.3% vs $0.56 | $432M+0.6% vs $430M |
Q1 2026 Feb 5, 2026 | $0.34-48.5% vs $0.66 | $403M+2.0% vs $396M |
Q4 2025 Oct 31, 2025 | -$0.37+64.4% vs -$1.04 | $39M-90.0% vs $395M |
MSG Sports has filed a registration statement with regulators for a new company to manage the New York Rangers business separately from its New York Knicks operations.
NEW YORK--(BUSINESS WIRE)--Madison Square Garden Sports Corp. (NYSE: MSGS) (“MSG Sports” or the “Company”) today announced that it is continuing to make progress on the proposed spin-off of its New York Rangers business from its New York Knicks business, with the public filing of a Form 10 Registration Statement for the new Rangers company with the U.S. Securities and Exchange Commission. As previously announced, the proposed transaction would create two distinct publicly traded companies. Foll.
Madison Square Garden NYSE: MSGS reported fiscal 2026 revenue of $1.15 billion and adjusted operating income of $58.7 million, as the New York Knicks' championship run drove higher ticketing, merchandise, sponsorship and in-arena spending.
Madison Square Garden Sports Corp. reported strong fiscal Q4 results, driven by fan engagement as the New York Knicks won the 2025-26 NBA Championship. Team valuations have continued to rise, and MSGS's planned spin-off of the New York Rangers has helped MSGS stock's valuation. There still isn't an attractive investment case in MSGS stock; investors are taking part in a speculative asset class without being able to cash in through a team sale.
Benchmark MSGS against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for Madison Square Garden Sports Corp. (MSGS)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $394.80 | $9.5B | 1233.75 | 11.03% | 0.67% | — | — | |
| $20.49 | $3.54B | -81.45 | -4.51% | -2.67% | -9.65% | — | |
| $93.25 | $23.37B | 43.37 | 22.69% | 5.3% | 2.76% | — | |
| $1.34 | $28.76M | -1.51 | -11.21% | -52.38% | — | — | |
| $30.76 | $77.12B | 106.07 | -5.15% | -8.77% | -8.91% | — | |
| $78.49 | $3.71B | -73.36 | -66.73% | 6.24% | 5.95% | — |
Madison Square Garden Sports Corp. (MSGS) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
Madison Square Garden Sports Corp. (MSGS) SEC filings — annual & quarterly reports (10-K, 10-Q)
Aug 13, 2026·SEC
May 8, 2026·SEC
May 4, 2026·SEC
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Madison Square Garden Sports Corp. (MSGS) stock FAQ — growth, dividends, profitability & financials explained
Madison Square Garden Sports Corp. (MSGS) reported $1.15B in revenue for fiscal year 2026. This represents a 60% increase from $722.9M in 2013.
Madison Square Garden Sports Corp. (MSGS) grew revenue by 11.0% over the past year. This is steady growth.
Yes, Madison Square Garden Sports Corp. (MSGS) is profitable, generating $7.8M in net income for fiscal year 2026 (0.7% net margin).
Madison Square Garden Sports Corp. (MSGS) generated $57.8M in free cash flow for fiscal year 2026. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
