Madison Square Garden Sports Corp. (MSGS) Financial Ratios
13 years of historical data (2013–2025) · Communication Services · Entertainment
EV/EBITDA
↑
504.40
↑+314% vs avg
5yr avg: 121.85
30Y Low12.7·High63.4
P/FCF
↑
91.62
↑+132% vs avg
5yr avg: 39.52
30Y Low13.5·High127.7
P/B Ratio
N/A
—
5yr avg: N/A
30Y Low0.8·High1.4
ROE
N/A
—
5yr avg: N/A
30Y Low-15%·High6%
Debt/EBITDA
↑
65.72
↑+172% vs avg
5yr avg: 24.17
30Y Low0.7·High12.6
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
MSGS Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Madison Square Garden Sports Corp. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis. On a free-cash-flow basis, the stock trades at 91.6x P/FCF, 132% above the 5-year average of 39.5x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $8.1B | $5.0B | $4.5B | $4.5B | $3.7B | $4.2B | $3.5B | $3.3B | $3.7B | $2.3B | $2.1B |
| Enterprise Value | $9.1B | $6.1B | $5.5B | $5.6B | $4.6B | $5.2B | $4.5B | $3.3B | $2.5B | $1.2B | $647M |
| P/E Ratio → | -360.13 | — | 77.10 | 99.50 | 71.90 | — | — | — | 25.90 | — | — |
| P/S Ratio | 7.76 | 4.84 | 4.41 | 5.13 | 4.49 | 10.02 | 5.83 | 4.55 | 2.35 | 1.77 | 1.90 |
| P/B Ratio | — | — | — | — | — | — | — | 1.23 | 1.39 | 0.93 | 0.82 |
| P/FCF | 91.62 | 57.21 | 49.99 | 30.07 | 20.81 | — | — | — | 127.69 | 13.51 | 39.18 |
| P/OCF | 87.99 | 54.95 | 49.20 | 29.84 | 20.70 | — | 985.66 | 20.58 | 16.63 | 10.75 | 16.84 |
P/E links to full P/E history page with 30-year chart
MSGS EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Madison Square Garden Sports Corp.'s enterprise value stands at 504.4x EBITDA, 314% above its 5-year average of 121.8x. The Communication Services sector median is 8.7x, placing the stock at a 5688% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 5.84 | 5.40 | 6.34 | 5.59 | 12.53 | 7.45 | 4.51 | 1.62 | 0.88 | 0.58 |
| EV / EBITDA | 504.40 | 336.45 | 37.15 | 63.44 | 50.34 | — | — | — | 17.30 | 21.46 | 12.74 |
| EV / EBIT | 614.02 | 1384.68 | 41.60 | 49.91 | 53.55 | — | — | — | 76.33 | — | — |
| EV / FCF | — | 68.93 | 61.13 | 37.22 | 25.90 | — | — | — | 87.64 | 6.75 | 11.96 |
MSGS Profitability
Margins and return-on-capital ratios measuring operating efficiency
Madison Square Garden Sports Corp. earns an operating margin of 1.4%. Operating margins have compressed from 9.6% to 1.4% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROIC of 1.5% represents below-average returns on invested capital.
Margins
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 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 27.0% | 27.0% | 39.7% | 37.8% | 38.4% | 30.9% | 37.4% | 36.9% | 31.6% | 26.5% | 24.7% |
| Operating Margin | 1.4% | 1.4% | 14.2% | 9.6% | 10.5% | -18.8% | -15.3% | -8.0% | 1.5% | -4.0% | -4.6% |
| Net Profit Margin | -2.2% | -2.2% | 5.7% | 5.4% | 6.2% | -3.4% | -30.2% | 1.6% | 9.1% | -5.5% | -6.9% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | — | — | -14.6% | 0.4% | 5.5% | -2.9% | -4.1% |
| ROA | -1.5% | -1.5% | 4.1% | 3.4% | 3.6% | -1.0% | -7.1% | 0.3% | 3.7% | -2.0% | -2.7% |
| ROIC | 1.5% | 1.5% | 14.7% | 8.5% | 8.1% | -7.3% | -4.0% | -2.1% | 1.2% | -3.3% | -3.4% |
| ROCE | 1.5% | 1.5% | 16.2% | 9.2% | 8.5% | -7.6% | -4.5% | -1.9% | 0.8% | -1.8% | -2.2% |
MSGS Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Madison Square Garden Sports Corp. carries a Debt/EBITDA ratio of 65.7x, which is highly leveraged (1818% above the sector average of 3.4x). Net debt stands at $1.0B ($1.2B total debt minus $153M cash). Interest coverage of just 0.2x 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 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | — | — | — | — | 0.04 | 0.04 | — |
| Debt / EBITDA | 65.72 | 65.72 | 7.41 | 12.63 | 10.90 | — | — | — | 0.73 | 1.95 | — |
| Net Debt / Equity | — | — | — | — | — | — | — | -0.01 | -0.44 | -0.47 | -0.57 |
| Net Debt / EBITDA | 57.22 | 57.22 | 6.77 | 12.18 | 9.90 | — | — | — | -7.91 | -21.53 | -28.99 |
| Debt / FCF | — | 11.72 | 11.14 | 7.14 | 5.09 | — | — | — | -40.06 | -6.77 | -27.21 |
| Interest Coverage | 0.20 | 0.20 | 4.83 | 4.93 | 7.30 | -7.46 | -20.98 | -11.20 | 9.45 | -18.38 | -37.96 |
MSGS Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.44x is below 1.0, meaning current liabilities exceed current assets. The current ratio has improved from 0.28x to 0.44x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.44 | 0.44 | 0.41 | 0.28 | 0.47 | 0.50 | 0.44 | 1.86 | 1.85 | 1.90 | 2.61 |
| Quick Ratio | 0.44 | 0.44 | 0.41 | 0.28 | 0.47 | 0.50 | 0.44 | 1.86 | 1.85 | 1.90 | 2.61 |
| Cash Ratio | 0.27 | 0.27 | 0.18 | 0.08 | 0.21 | 0.20 | 0.31 | 0.03 | 1.64 | 1.67 | 2.39 |
| Asset Turnover | — | 0.66 | 0.71 | 0.63 | 0.59 | 0.29 | 0.47 | 0.19 | 0.41 | 0.35 | 0.31 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 15.29 | 28.46 | 31.08 | 33.58 | 79.21 | 7.05 | 8.00 | 24.74 | 29.01 | 26.21 |
MSGS Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Madison Square Garden Sports Corp. returns 0.2% to shareholders annually — split between a 0.0% dividend yield and 0.1% buyback yield.
Dividends
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 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.0% | 0.0% | 0.0% | 3.8% | — | — | 23.5% | — | — | — | — |
| Payout Ratio | — | — | 1.2% | 357.6% | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 1.3% | 1.0% | 1.4% | — | — | — | 3.9% | — | — |
| FCF Yield | 1.1% | 1.7% | 2.0% | 3.3% | 4.8% | — | — | — | 0.8% | 7.4% | 2.6% |
| Buyback Yield | 0.1% | 0.2% | 0.2% | 1.6% | 0.5% | 0.0% | 0.8% | 0.6% | 0.3% | 6.4% | 5.0% |
| Total Shareholder Yield | 0.2% | 0.2% | 0.2% | 5.4% | 0.5% | 0.0% | 24.3% | 0.6% | 0.3% | 6.4% | 5.0% |
| Shares Outstanding | — | $24M | $24M | $24M | $24M | $24M | $24M | $24M | $24M | $24M | $25M |
Peer Comparison
Compare MSGS 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 |
|---|---|---|---|---|---|---|---|---|---|
 MSGSYou | $8B | -360.1 | 504.4 | 91.6 | 27.0% | 1.4% | — | 1.5% | 65.7 |
 MANU | $3B | -73.0 | 15.2 | 85.5 | 82.3% | -2.8% | -19.5% | -2.0% | 3.3 |
 FWONK | $20B | — | — | 21.8 | — | — | — | — | — |
 BRLS | $33M | -1.2 | — | — | 7.9% | -73.7% | -365.4% | -62.0% | — |
 WBD | $68B | 93.8 | 13.8 | 22.1 | 28.2% | 3.5% | 2.0% | 1.5% | 4.7 |
 MSGE | $3B | 86.9 | 21.5 | 29.1 | 43.2% | 13.0% | — | 8.5% | 6.7 |
 EPR | $4B | 17.2 | 13.5 | 10.2 | 44.7% | 52.5% | 11.8% | 5.3% | 5.8 |
 CHDN | $6B | 17.3 | 11.6 | 13.0 | 33.6% | 25.2% | 35.2% | 9.4% | 5.3 |
 DKNG | $12B | -2953.1 | 46.9 | 18.3 | 41.3% | -0.3% | 0.5% | -0.9% | 7.4 |
 PENN | $2B | -2.9 | 13.8 | — | 27.4% | 3.9% | -36.0% | 1.8% | 11.7 |
 NFLX | $374B | 34.9 | 12.6 | 39.5 | 48.5% | 29.5% | 42.8% | 29.8% | 0.5 |
| Communication Services Median | — | 15.5 | 8.7 | 11.6 | 49.1% | 0.9% | 2.2% | 3.3% | 3.4 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 13 years · Updated daily
See MSGS's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs MSGS Undervalued?
DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare MSGS vs MANU
Side-by-side business, growth, and profitability comparison vs Manchester United plc.
Start ComparisonMSGS — Frequently Asked Questions
Quick answers to the most common questions about buying MSGS stock.
What is Madison Square Garden Sports Corp.'s P/E ratio?
Madison Square Garden Sports Corp.'s current P/E ratio is -360.1x. The historical average is 68.6x.
What is Madison Square Garden Sports Corp.'s EV/EBITDA?
Madison Square Garden Sports Corp.'s current EV/EBITDA is 504.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 33.7x.
Is MSGS stock overvalued?
Based on historical data, Madison Square Garden Sports Corp. is trading at a P/E of -360.1x. Compare with industry peers and growth rates for a complete picture.
What is Madison Square Garden Sports Corp.'s dividend yield?
Madison Square Garden Sports Corp.'s current dividend yield is 0.01%.
What are Madison Square Garden Sports Corp.'s profit margins?
Madison Square Garden Sports Corp. has 27.0% gross margin and 1.4% operating margin.
How much debt does Madison Square Garden Sports Corp. have?
Madison Square Garden Sports Corp.'s Debt/EBITDA ratio is 65.7x, indicating high leverage. A ratio above 4x may signal elevated financial risk.