Madison Square Garden Sports Corp. (MSGS) Revenue History
Annual and quarterly revenue from 2013 to present
MSGS Revenue Over Time (2013–2025)
MSGS Revenue Growth History
9 of 12 years with positive growth- FY2013 revenue growth
- N/A
- FY2014 revenue growth
- +26.4%
- FY2015 revenue growth
- +17.3%
- FY2016 revenue growth
- +4.1%
- FY2017 revenue growth
- +18.2%
- FY2018 revenue growth
- +18.3%
- FY2019 revenue growth
- -53.2%
- FY2020 revenue growth
- -17.3%
- FY2021 revenue growth
- -31.1%
- FY2022 revenue growth
- +97.6%
- FY2023 revenue growth
- +8.0%
- FY2024 revenue growth
- +15.7%
- FY2025 revenue growth
- +1.2%
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $432.2M | +1.9% |
| Q2 2026 | $403.4M | +12.8% |
| Q1 2026 | $39.5M | -26.0% |
| Q4 2025 | $204.0M | -10.3% |
| Q3 2025 | $424.2M | -1.3% |
| Q2 2025 | $357.8M | +9.4% |
| Q1 2025 | $53.3M | +23.8% |
| Q4 2024 | $227.3M | +79.1% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
MSGS's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
MSGS Revenue Analysis (2013–2025)
Current Revenue & Growth
As of June 23, 2026, Madison Square Garden Sports Corp. (MSGS) generated trailing twelve-month (TTM) revenue of $1.08 billion, reflecting modest growth of +1.9% year-over-year. The most recent quarter (Q3 2026) recorded $432.2 million in revenue, up 7.1% sequentially.
Historical Growth Trajectory
MSGS's 5-year compound annual growth rate (CAGR) stands at +11.5%, indicating consistent double-digit revenue growth. The 3-year CAGR of +8.2% is below the 5-year average, signalling a growth deceleration in recent years. Madison Square Garden Sports Corp.'s highest annual revenue of $1.56 billion was recorded in 2018.
Revenue by Segment
MSGS's revenue is primarily driven by Event-related (45%), Local Media Rights (27%), and Sponsorship, signage and suite licenses (22%). The diversified mix across segments reduces dependence on any single product line, which can support more resilient revenue in downturns.
Peer Comparison
Compared to Communication Services sector peers — including MANU (+5.8% YoY), FWONK (+35.1% YoY), and BRLS (+8.7% YoY) — MSGS has underperformed the peer group in revenue growth. Compare MSGS vs MANU →
MSGS Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| MSGSCurrent | $1.1B | +1.9% | +11.5% | 1.4% | |
 MANU | $628M | +5.8% | +4.1% | -4.0% | |
 FWONK | $4.5B | +35.1% | +31.4% | 13.5% | |
 BRLS | $30M | +8.7% | - | -36.7% | |
 WBD | $37.3B | -2.9% | +28.4% | 3.5% | |
 MSGE | $943M | +4.5% | +10.0% | 14.3% |
MSGS Historical Revenue Data (2013–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $1.04B | +1.2% | $280.9M | 27.0% | $14.8M | 1.4% |
| 2024 | $1.03B | +15.7% | $407.5M | 39.7% | $146.0M | 14.2% |
| 2023 | $887.4M | +8.0% | $335.1M | 37.8% | $85.2M | 9.6% |
| 2022 | $821.4M | +97.6% | $315.7M | 38.4% | $86.1M | 10.5% |
| 2021 | $415.7M | -31.1% | $128.3M | 30.9% | $-78,307,000 | -18.8% |
| 2020 | $603.3M | -17.3% | $225.8M | 37.4% | $-92,263,000 | -15.3% |
| 2019 | $729.4M | -53.2% | $269.2M | 36.9% | $-58,195,000 | -8.0% |
| 2018 | $1.56B | +18.3% | $492.3M | 31.6% | $23.1M | 1.5% |
| 2017 | $1.32B | +18.2% | $349.7M | 26.5% | $-53,203,000 | -4.0% |
| 2016 | $1.12B | +4.1% | $275.0M | 24.7% | $-51,731,000 | -4.6% |
| 2015 | $1.07B | +17.3% | $237.9M | 22.2% | $-406,000 | -0.0% |
| 2014 | $913.6M | +26.4% | $107.1M | 11.7% | $-114,028,000 | -12.5% |
| 2013 | $722.9M | - | $117.1M | 16.2% | $-59,029,000 | -8.2% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
13+ years return with dividends reinvested.
DCA Calculator
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Peer Comparison
Compare growth, multiples, and margins vs sector.
MSGS — Frequently Asked Questions
Quick answers to the most common questions about buying MSGS stock.
Is MSGS's revenue growth accelerating or slowing?
MSGS revenue growth is slowing. TTM revenue is $1.1B, up +1.9% year-over-year — below the 5-year CAGR of +11.5%. The deceleration suggests maturing end-markets or increased competition.
What is MSGS's revenue history from 2013 to 2026?
Madison Square Garden Sports Corp. (MSGS) revenue history spans 2013 to 2026. TTM revenue as of 2026 is $1.1B, growing at +1.9% YoY. The 5-year CAGR is +11.5%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is MSGS's long-term revenue growth rate (CAGR)?
Madison Square Garden Sports Corp.'s 5-year revenue CAGR of +11.5% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of +1.9% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for MSGS.
Why does MSGS's quarterly revenue fluctuate?
MSGS quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Madison Square Garden Sports Corp.'s revenue data from 2013 to 2026 shows full historical quarterly detail on this page.
How is MSGS's revenue distributed by segment?
MSGS reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does MSGS's revenue compare to industry peers?
Madison Square Garden Sports Corp. (MSGS) with TTM revenue of $1.1B and +1.9% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.