The company maintains a precarious financial position with a consistent negative equity balance of $295.4 million and a current ratio of 0.46, indicating limited liquidity buffers.
| Metric | TTM | Jun'25 | Jun'24 | Jun'23 | Jun'22 | Jun'21 | Jun'20 | Jun'19 | Jun'18 | Jun'17 | Jun'16 | Jun'15 | Jun'14 | Jun'13 |
|---|
| Total Current Assets | 294.43M | 249.95M | 215.8M | 148.09M | 205.27M | 183.49M | 127.6M | 1.41B | 1.41B | 1.45B | 1.6B | 168.63M | 157.92M | 0 |
| Cash & Short-Term Investments | 107.04M | 153.19M | 94.91M | 40.46M | 91.02M | 72.04M | 90.67M | 25.84M | 1.26B | 1.27B | 1.47B | 26.8M | 15.97M | 0 |
| Cash Only | 107.04M | 153.19M | 94.91M | 40.46M | 91.02M | 72.04M | 90.67M | 25.84M | 1.26B | 1.27B | 1.47B | 26.8M | 15.97M | 0 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 129.45M | 43.53M | 80.09M | 75.57M | 75.57M | 90.22M | 11.65M | 15.98M | 105.66M | 104.8M | 80.08M | 82.9M | 82.06M | 0 |
| Days Sales Outstanding | 30.26 | 15.29 | 28.46 | 31.08 | 33.58 | 79.21 | 7.05 | 8 | 24.74 | 29.01 | 26.21 | 28.24 | 32.78 | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 14.72M | 9.81M | 9.84M | 7.29M | 19.87M | 4.51M | 4.65M | 1.35B | 23.85M | 48.65M | 25.34M | 35.06M | 38.45M | 0 |
| Total Non-Current Assets | 1.21B | 1.33B | 1.23B | 1.26B | 1.2B | 1.24B | 1.16B | 2.42B | 2.41B | 2.3B | 2.01B | 1.98B | 1.98B | 0 |
| Property, Plant & Equipment | 771.45M | 789.42M | 723.11M | 745.78M | 719.67M | 739.24M | 757.65M | 31.27M | 1.25B | 1.16B | 1.16B | 1.19B | 1.23B | 0 |
| Fixed Asset Turnover | 1.82x | 1.32x | 1.42x | 1.19x | 1.14x | 0.56x | 0.80x | 23.33x | 1.24x | 1.14x | 0.96x | 0.90x | 0.74x | - |
| Goodwill | 226.52M | 226.52M | 226.52M | 226.52M | 226.96M | 226.96M | 226.96M | 226.96M | 392.51M | 380.09M | 277.17M | 277.17M | 277.17M | 0 |
| Intangible Assets | 103.64M | 103.64M | 103.64M | 103.64M | 112.78M | 113.84M | 114.9M | 118.46M | 419.79M | 423.82M | 182.58M | 189.17M | 193.11M | 0 |
| Long-Term Investments | 260.56M | 54.72M | 62.54M | 52.97M | 2.74M | 0 | 0 | 0 | 209.95M | 242.29M | 265.26M | 249.39M | 225.63M | 0 |
| Other Non-Current Assets | 22.58M | 13.9M | 14.68M | 38.01M | 35.7M | 30.48M | 6.69M | 1.97B | 45.36M | 58.36M | 54.49M | 75.88M | 52.06M | 0 |
| Total Assets | 1.51B | 1.58B | 1.44B | 1.4B | 1.4B | 1.42B | 1.29B | 3.83B | 3.83B | 3.75B | 3.61B | 2.15B | 2.14B | 0 |
| Asset Turnover | 0.70x | 0.66x | 0.71x | 0.63x | 0.59x | 0.29x | 0.47x | 0.19x | 0.41x | 0.35x | 0.31x | 0.50x | 0.43x | - |
| Asset Growth % | 29.82% | 9.63% | 2.7% | 0.25% | -1.43% | 10.19% | -66.38% | 0.13% | 2.12% | 3.8% | 68.13% | 0.55% | - | - |
| Total Current Liabilities | 637.81M | 563.52M | 521.98M | 520.53M | 438.3M | 368.28M | 290.25M | 760.02M | 765.5M | 762.04M | 614.82M | 533.72M | 549.04M | 0 |
| Accounts Payable | 12.76M | 14.14M | 16.62M | 14.94M | 11.26M | 19.32M | 20.25M | 1.24M | 42.61M | 41.66M | 29.21M | 4.89M | 9.36M | 0 |
| Days Payables Outstanding | 4.88 | 6.81 | 9.79 | 9.87 | 8.13 | 24.52 | 19.58 | 0.99 | 14.58 | 15.7 | 12.69 | 2.14 | 4.24 | - |
| Short-Term Debt | 73.48M | 24M | 30M | 30M | 30M | 71.95M | 39.13M | 0 | 4.37M | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 596.81M | 164.18M | 148.68M | 157.05M | 132.37M | 131.03M | 126.35M | 110.26M | 324.75M | 390.18M | 332.42M | 311.32M | 291.87M | 0 |
| Other Current Liabilities | 276.27M | 98.92M | 133.93M | 144.31M | 119.28M | 55.72M | 33.07M | 571M | 269.79M | 191.34M | 133.83M | 121.51M | 147.91M | 0 |
| Current Ratio | 0.46x | 0.44x | 0.41x | 0.28x | 0.47x | 0.50x | 0.44x | 1.86x | 1.85x | 1.90x | 2.61x | 0.32x | 0.29x | - |
| Quick Ratio | 0.46x | 0.44x | 0.41x | 0.28x | 0.47x | 0.50x | 0.44x | 1.86x | 1.85x | 1.90x | 2.61x | 0.32x | 0.29x | - |
| Cash Conversion Cycle | 25.38 | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 1.17B | 1.3B | 1.19B | 1.22B | 1.11B | 1.25B | 1.2B | 368.55M | 433.61M | 487.97M | 411.83M | 391.95M | 396.95M | 0 |
| Long-Term Debt | 242M | 267M | 275M | 295M | 220M | 355M | 350M | 0 | 101.33M | 105.43M | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 3.36B | 841.05M | 749.95M | 746.44M | 699.59M | 691.15M | 679.05M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 107.79M | 107.79M | 112.48M | 112.92M | 107.4M | 110.89M | 113.3M | 107.62M | 172.63M | 234.19M | 263.7M | 206.94M | 212.84M | 0 |
| Other Non-Current Liabilities | 72.1M | 82.18M | 47.6M | 53.6M | 49.42M | 65.77M | 60.2M | 260.93M | 159.65M | 148.35M | 148.13M | 185M | 184.12M | 0 |
| Total Liabilities | 1.8B | 1.86B | 1.71B | 1.74B | 1.55B | 1.62B | 1.49B | 1.13B | 1.2B | 1.25B | 1.03B | 925.67M | 945.99M | 0 |
| Total Debt | 1.17B | 1.18B | 1.11B | 1.12B | 993.29M | 1.12B | 1.07B | 0 | 105.7M | 105.43M | 0 | 0 | 0 | 0 |
| Net Debt | 1.06B | 1.03B | 1.01B | 1.08B | 902.27M | 1.05B | 977.51M | -25.84M | -1.15B | -1.17B | -1.47B | -26.8M | -15.97M | 0 |
| Debt / Equity | -3.95x | - | - | - | - | - | - | - | 0.04x | 0.04x | - | - | - | - |
| Debt / EBITDA | -54.57x | 65.72x | 7.41x | 12.63x | 10.90x | - | - | - | 0.73x | 1.95x | - | - | - | - |
| Net Debt / EBITDA | -49.57x | 57.22x | 6.77x | 12.18x | 9.90x | - | - | - | -7.91x | -21.53x | -28.99x | -0.25x | - | - |
| Interest Coverage | -0.44x | 0.20x | 4.83x | 4.93x | 7.30x | -7.46x | -20.98x | -11.20x | 9.45x | -18.38x | -37.96x | -16.11x | -75.42x | -25.93x |
| Total Equity | -295.45M | -281.44M | -266.31M | -337.23M | -145.38M | -201.87M | -203.44M | 2.71B | 2.63B | 2.5B | 2.59B | 1.22B | 1.19B | 916.76M |
| Equity Growth % | -19.19% | -5.68% | 21.03% | -131.97% | 27.98% | 0.77% | -107.52% | 2.88% | 5.21% | -3.32% | 111.43% | 2.69% | 29.94% | - |
| Book Value per Share | -12.23 | -11.68 | -11.05 | -13.94 | -5.96 | -8.37 | -8.50 | 113.24 | 110.32 | 104.83 | 104.48 | 49.11 | 47.79 | 35.65 |
| Total Shareholders' Equity | -295.45M | -281.44M | -266.31M | -337.23M | -147.09M | -204.31M | -206.99M | 2.62B | 2.54B | 2.41B | 2.59B | 1.22B | 1.19B | 916.76M |
| Common Stock | 249K | 249K | 249K | 249K | 249K | 249K | 249K | 249K | 249K | 249K | 249K | 1.26B | 1.23B | 941.98M |
| Retained Earnings | -158.16M | -137.6M | -115.14M | -173.91M | -35.7M | -78.9M | -43.6M | 29M | -11.06M | -148.41M | -75.69M | 0 | 0 | 0 |
| Treasury Stock | -149.86M | -158.54M | -169.55M | -179.41M | -128.03M | -146.73M | -167.43M | -207.79M | -223.66M | -242.08M | -101.88M | 0 | 0 | 0 |
| Accumulated OCI | -894K | -897K | -952K | -1.01M | -1.19M | -2.03M | -2.14M | -46.92M | -46.92M | -34.12M | -42.61M | -40.22M | -36.02M | -25.22M |
| Minority Interest | 0 | 0 | 0 | 0 | 1.71M | 2.44M | 3.55M | 85.89M | 94.24M | 92.33M | 0 | 0 | 0 | 0 |
Negative equity and leverage
As reported in recent financial statements, MSGS has maintained a consistent negative equity position, with the deficit reaching $295.4 million in 2026Q3, signaling that the company's cumulative losses and capital allocation strategies have eroded the book value of shareholder capital over the observed ten-quarter period.
The persistent negative equity suggests that the company's accounting book value does not capture the underlying market value of its sports franchises, which are typically valued as trophy assets. Investors should monitor whether this trend reflects structural impairment or simply the accounting treatment of intangible assets and league-related liabilities.
According to quarterly filings, MSGS carries a significant debt load of $1.2 billion as of 2026Q3, which represents a substantial portion of the company's $1.5 billion in total assets, indicating that the business relies heavily on external financing to support its operations and league-mandated obligations.
The debt-to-asset ratio remains elevated, suggesting that the company's financial flexibility may be constrained by interest obligations. This leverage profile warrants further investigation into the maturity schedule of these debt instruments and the company's ability to refinance in a potentially higher interest rate environment.
Based on the provided balance sheet data, the current ratio for MSGS has consistently remained below 0.50, with a 2026Q3 reading of 0.46, which suggests that the company maintains a very thin liquidity buffer relative to its short-term obligations and seasonal working capital requirements.
This low current ratio implies that the company is highly dependent on the timing of cash inflows from ticket sales and media rights to meet its immediate liabilities. Such a profile leaves little room for operational errors or unexpected disruptions in the sports calendar.
As indicated by the reported figures, MSGS holds $226.5 million in goodwill, which constitutes a meaningful portion of the $1.5 billion total asset base, suggesting that the company's valuation is heavily reliant on the historical acquisition costs of its sports franchises rather than tangible physical assets.
The concentration of goodwill relative to total assets highlights the importance of the franchises' brand equity and territorial exclusivity. Investors should consider the risk of potential impairment if the long-term economic value of these sports licenses were to deviate from their carrying values on the balance sheet.
Quick answers to the most common questions about buying MSGS stock.
As of 2025, Madison Square Garden Sports Corp. (MSGS) had total assets of $1.58B including $249.9M in current assets.
Madison Square Garden Sports Corp. (MSGS) carries total debt of $1.18B, offset by $153.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Madison Square Garden Sports Corp. (MSGS) has total shareholders' equity (book value) of $-281.4M ($-11.68 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Madison Square Garden Sports Corp. (MSGS) reported a current ratio of 0.44x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.