MADISON SQUARE GRDN ENTERTNMNT Financials

MSGE

Source SEC Filings (10-K/10-Q) Updated Feb 6, 2026 Currency USD FYE June

This page shows MADISON SQUARE GRDN ENTERTNMNT (MSGE) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Altman Z-Score Grey Zone

1.83

MADISON SQUARE GRDN ENTERTNMNT scores 1.83, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($3.0B) relative to total liabilities ($1.7B). This signals moderate financial risk that warrants monitoring.

Piotroski F-Score Neutral

5/9

MADISON SQUARE GRDN ENTERTNMNT passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

3.08x

For every $1 of reported earnings, MADISON SQUARE GRDN ENTERTNMNT generates $3.08 in operating cash flow ($115.3M OCF vs $37.4M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate

2.4x

MADISON SQUARE GRDN ENTERTNMNT earns $2.4 in operating income for every $1 of interest expense ($122.1M vs $50.5M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Revenue

$942.7M

YoY-1.7%

MADISON SQUARE GRDN ENTERTNMNT generated $942.7M in revenue in fiscal year 2025. This represents a decrease of 1.7% from the prior year.

EBITDA

$179.9M

YoY+8.5%

MADISON SQUARE GRDN ENTERTNMNT's EBITDA was $179.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 8.5% from the prior year.

Free Cash Flow

N/A

Net Income

$37.4M

YoY-74.1%

MADISON SQUARE GRDN ENTERTNMNT reported $37.4M in net income in fiscal year 2025. This represents a decrease of 74.1% from the prior year.

EPS (Diluted)

$0.77

YoY-74.1%

MADISON SQUARE GRDN ENTERTNMNT earned $0.77 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 74.1% from the prior year.

Cash & Debt

$43.0M

YoY+29.4%

MADISON SQUARE GRDN ENTERTNMNT held $43.0M in cash against $568.8M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Gross Margin

N/A

Operating Margin

13.0%

YoY+1.3pp

MADISON SQUARE GRDN ENTERTNMNT's operating margin was 13.0% in fiscal year 2025, reflecting core business profitability. This is up 1.3 percentage points from the prior year.

Net Margin

4.0%

YoY-11.1pp

MADISON SQUARE GRDN ENTERTNMNT's net profit margin was 4.0% in fiscal year 2025, showing the share of revenue converted to profit. This is down 11.1 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

N/A

Share Buybacks

$39.7M

YoY-22.0%

MADISON SQUARE GRDN ENTERTNMNT spent $39.7M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 22.0% from the prior year.

Capital Expenditures

N/A

MSGE Income Statement

Metric	FY25	FY24	FY23	FY22	FY21
Revenue	$942.7M-1.7%	$959.3M+12.7%	$851.5M+30.3%	$653.5M+698.8%	$81.8M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$215.0M+3.9%	$207.0M+14.8%	$180.2M+7.8%	$167.1M+22.4%	$136.6M
Operating Income	$122.1M+9.1%	$111.9M+6.6%	$105.0M+1959.2%	-$5.6M+97.6%	-$237.3M
Interest Expense	$50.5M-12.9%	$58.0M+11.7%	$51.9M-2.3%	$53.1M+57.4%	$33.7M
Income Tax	$28.1M+130.6%	-$92.0M-5424.6%	$1.7M+2568.6%	-$70K-101.3%	$5.3M
Net Income	$37.4M-74.1%	$144.3M+88.4%	$76.6M+157.4%	-$133.3M+39.0%	-$218.6M
EPS (Diluted)	$0.77-74.1%	$2.97+102.0%	$1.47+157.0%	$-2.58+38.9%	$-4.22

Metric	Q2'26	Q2'25	Q1'25	Q3'25	Q2'24	Q1'24	Q3'24	Q2'23
Revenue	$460K-99.9%	$459.9M+190.6%	$158.3M-34.7%	$242.5M-40.5%	$407.4M+193.7%	$138.7M-39.2%	$228.3M-43.3%	$402.7M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$68K-99.9%	$68.4M+20.8%	$56.6M+8.6%	$52.1M-8.9%	$57.2M+25.0%	$45.7M-15.2%	$53.9M+11.5%	$48.4M
Operating Income	$164K-99.9%	$163.8M+650.8%	-$29.7M-208.8%	$27.3M-80.3%	$139.0M+852.1%	-$18.5M-210.0%	$16.8M-87.8%	$137.4M
Interest Expense	$10K-99.9%	$10.4M-5.5%	$11.0M-6.5%	$11.8M-8.9%	$13.0M-7.7%	$14.0M-2.6%	$14.4M-4.1%	$15.0M
Income Tax	$61K-99.9%	$60.8M+424.1%	-$18.8M-358.8%	$7.3M-85.3%	$49.5M+463.7%	-$13.6M-680150.0%	$2K-99.8%	$1.1M
Net Income	$93K-99.9%	$92.7M+528.2%	-$21.7M-369.5%	$8.0M-89.4%	$75.9M+492.8%	-$19.3M-791.3%	$2.8M-97.8%	$125.2M
EPS (Diluted)	$1.940.0%	$1.94+521.7%	$-0.46-370.6%	$0.17-89.1%	$1.56+490.0%	$-0.40-766.7%	$0.06-97.7%	$2.59

MSGE Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21
Total Assets	$1.7B+7.5%	$1.6B+10.8%	$1.4B-8.2%	$1.5B	N/A
Current Assets	$237.1M+8.2%	$219.1M-25.8%	$295.3M-13.5%	$341.5M	N/A
Cash & Equivalents	$43.0M+29.4%	$33.3M-56.3%	$76.1M+31.0%	$58.1M-81.7%	$318.1M
Inventory	$3.8M-3.1%	$3.9M+51.4%	$2.6M-7.1%	$2.8M	N/A
Accounts Receivable	$66.8M-13.6%	$77.3M+20.9%	$63.9M-37.7%	$102.5M	N/A
Goodwill	$69.0M0.0%	$69.0M0.0%	$69.0M0.0%	$69.0M	N/A
Total Liabilities	$1.7B+6.8%	$1.6B+7.2%	$1.5B-3.8%	$1.5B	N/A
Current Liabilities	$502.4M-0.7%	$505.8M-6.4%	$540.6M-0.8%	$545.1M	N/A
Long-Term Debt	$568.8M-5.1%	$599.2M-4.9%	$630.2M-3.8%	$654.9M	N/A
Total Equity	-$13.3M+42.6%	-$23.2M+66.7%	-$69.5M-4610.0%	-$1.5M-100.3%	$498.7M
Retained Earnings	$153.0M+32.4%	$115.6M+502.8%	-$28.7M	$0	N/A

Metric	Q2'26	Q2'25	Q1'25	Q3'25	Q2'24	Q1'24	Q3'24	Q2'23
Total Assets	$1.8M-99.9%	$1.8B+8.5%	$1.7B-3.4%	$1.7B+9.5%	$1.6B-1.4%	$1.6B+10.4%	$1.5B+2.7%	$1.4B
Current Assets	$420K-99.9%	$420.1M+59.0%	$264.2M-14.1%	$307.6M+14.0%	$269.8M+3.6%	$260.4M+1.8%	$255.8M+2.2%	$250.3M
Cash & Equivalents	$157K-99.9%	$157.1M+424.4%	$29.9M-66.3%	$89.0M+62.0%	$54.9M+47.2%	$37.3M+33.2%	$28.0M-20.5%	$35.2M
Inventory	$4K-99.9%	$3.8M-18.2%	$4.6M+13.4%	$4.1M+34.2%	$3.0M-25.8%	$4.1M-5.3%	$4.3M-10.4%	$4.8M
Accounts Receivable	$121K-99.9%	$120.9M+48.9%	$81.2M-3.9%	$84.5M-9.5%	$93.4M-2.2%	$95.5M-12.0%	$108.6M+6.5%	$102.0M
Goodwill	$69K-99.9%	$69.0M0.0%	$69.0M0.0%	$69.0M0.0%	$69.0M0.0%	$69.0M0.0%	$69.0M0.0%	$69.0M
Total Liabilities	$1.8M-99.9%	$1.8B+2.4%	$1.7B+0.9%	$1.7B+9.6%	$1.6B-4.9%	$1.7B+6.8%	$1.6B+2.0%	$1.5B
Current Liabilities	$618K-99.9%	$618.5M+12.9%	$547.7M+1.9%	$537.6M+7.2%	$501.7M-3.7%	$521.2M-5.4%	$550.8M+2.4%	$538.1M
Long-Term Debt	$555K-99.9%	$554.6M-4.7%	$581.7M+0.7%	$577.4M-1.2%	$584.7M-9.6%	$647.0M+7.4%	$602.5M-0.5%	$605.7M
Total Equity	$36K-99.9%	$36.0M+154.7%	-$65.8M-790.7%	$9.5M-7.8%	$10.3M+121.2%	-$48.7M+48.5%	-$94.6M+7.3%	-$102.0M
Retained Earnings	$224K-99.9%	$224.1M+70.6%	$131.4M-27.1%	$180.2M+4.7%	$172.2M+78.8%	$96.3M+97.8%	$48.7M+6.1%	$45.9M

MSGE Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21
Operating Cash Flow	$115.3M+3.6%	$111.3M-18.0%	$135.7M+42.3%	$95.4M+164.4%	-$148.1M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$23.7M+62.0%	-$62.4M-305.8%	$30.3M-33.3%	$45.4M+539.5%	-$10.3M
Financing Cash Flow	-$81.6M+18.1%	-$99.7M+30.9%	-$144.2M+63.6%	-$396.3M-183.7%	$473.5M
Dividends Paid	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$39.7M-22.0%	$50.9M+103.5%	$25.0M	$0	$0

Metric	Q2'26	Q2'25	Q1'25	Q3'25	Q2'24	Q1'24	Q3'24	Q2'23
Operating Cash Flow	$184K-99.9%	$164.4M+729.9%	$19.8M-65.1%	$56.8M-49.7%	$112.9M+512.5%	-$27.4M-569.9%	$5.8M-94.4%	$103.9M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	$15K+100.2%	-$8.5M-24.9%	-$6.8M-119.5%	-$3.1M+67.7%	-$9.6M-43.4%	-$6.7M+32.4%	-$9.9M-36.6%	-$7.2M
Financing Cash Flow	$55K+100.2%	-$28.8M-10.4%	-$26.1M-34.0%	-$19.5M+77.3%	-$85.7M-324.8%	$38.1M+834.0%	-$5.2M+94.7%	-$98.6M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$25K	$0-100.0%	$25.0M+70.2%	$14.7M-41.2%	$25.0M	$0	$0+100.0%	-$512K

MSGE Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21
Gross Margin	N/A	N/A	N/A	N/A	N/A
Operating Margin	13.0%+1.3pp	11.7%-0.7pp	12.3%+13.2pp	-0.9%+289.2pp	-290.0%
Net Margin	4.0%-11.1pp	15.0%+6.0pp	9.0%+29.4pp	-20.4%+246.8pp	-267.2%
Return on Equity	N/A	N/A	N/A	N/A	N/A
Return on Assets	2.2%-7.0pp	9.3%+3.8pp	5.5%+14.2pp	-8.7%	N/A
Current Ratio	0.47+0.0	0.43-0.1	0.55-0.1	0.63	N/A
Debt-to-Equity	-42.77-16.9	-25.87-16.8	-9.07+434.9	-444.01	N/A
FCF Margin	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26	Q2'25	Q1'25	Q3'25	Q2'24	Q1'24	Q3'24	Q2'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	35.6%0.0pp	35.6%+54.4pp	-18.8%-30.1pp	11.3%-22.9pp	34.1%+47.4pp	-13.3%-20.7pp	7.4%-26.8pp	34.1%
Net Margin	20.2%0.0pp	20.2%+33.8pp	-13.7%-17.0pp	3.3%-15.3pp	18.6%+32.6pp	-13.9%-15.2pp	1.2%-29.9pp	31.1%
Return on Equity	257.4%0.0pp	257.4%	N/A	84.4%-650.5pp	734.8%	N/A	N/A	N/A
Return on Assets	5.1%0.0pp	5.1%+6.4pp	-1.3%-1.8pp	0.5%-4.3pp	4.8%+6.0pp	-1.2%-1.4pp	0.2%-8.6pp	8.8%
Current Ratio	0.680.0	0.68+0.2	0.48-0.1	0.57+0.0	0.54+0.0	0.50+0.0	0.460.0	0.47
Debt-to-Equity	15.400.0	15.40+24.2	-8.84-69.5	60.61+4.0	56.61+69.9	-13.29-6.9	-6.37-0.4	-5.94
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Note: Shareholder equity is negative (-$13.3M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

Note: The current ratio is below 1.0 (0.47), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is MADISON SQUARE GRDN ENTERTNMNT's annual revenue?

MADISON SQUARE GRDN ENTERTNMNT (MSGE) reported $942.7M in total revenue for fiscal year 2025. This represents a -1.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is MADISON SQUARE GRDN ENTERTNMNT's revenue growing?

MADISON SQUARE GRDN ENTERTNMNT (MSGE) revenue declined by 1.7% year-over-year, from $959.3M to $942.7M in fiscal year 2025.

Is MADISON SQUARE GRDN ENTERTNMNT profitable?

Yes, MADISON SQUARE GRDN ENTERTNMNT (MSGE) reported a net income of $37.4M in fiscal year 2025, with a net profit margin of 4.0%.

What is MADISON SQUARE GRDN ENTERTNMNT's earnings per share (EPS)?

MADISON SQUARE GRDN ENTERTNMNT (MSGE) reported diluted earnings per share of $0.77 for fiscal year 2025. This represents a -74.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is MADISON SQUARE GRDN ENTERTNMNT's EBITDA?

MADISON SQUARE GRDN ENTERTNMNT (MSGE) had EBITDA of $179.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does MADISON SQUARE GRDN ENTERTNMNT have?

As of fiscal year 2025, MADISON SQUARE GRDN ENTERTNMNT (MSGE) had $43.0M in cash and equivalents against $568.8M in long-term debt.

What is MADISON SQUARE GRDN ENTERTNMNT's operating margin?

MADISON SQUARE GRDN ENTERTNMNT (MSGE) had an operating margin of 13.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is MADISON SQUARE GRDN ENTERTNMNT's net profit margin?

MADISON SQUARE GRDN ENTERTNMNT (MSGE) had a net profit margin of 4.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is MADISON SQUARE GRDN ENTERTNMNT's operating cash flow?

MADISON SQUARE GRDN ENTERTNMNT (MSGE) generated $115.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are MADISON SQUARE GRDN ENTERTNMNT's total assets?

MADISON SQUARE GRDN ENTERTNMNT (MSGE) had $1.7B in total assets as of fiscal year 2025, including both current and long-term assets.

Does MADISON SQUARE GRDN ENTERTNMNT buy back shares?

Yes, MADISON SQUARE GRDN ENTERTNMNT (MSGE) spent $39.7M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

What is MADISON SQUARE GRDN ENTERTNMNT's current ratio?

MADISON SQUARE GRDN ENTERTNMNT (MSGE) had a current ratio of 0.47 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is MADISON SQUARE GRDN ENTERTNMNT's debt-to-equity ratio?

MADISON SQUARE GRDN ENTERTNMNT (MSGE) had a debt-to-equity ratio of -42.77 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is MADISON SQUARE GRDN ENTERTNMNT's return on assets (ROA)?

MADISON SQUARE GRDN ENTERTNMNT (MSGE) had a return on assets of 2.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Why is MADISON SQUARE GRDN ENTERTNMNT's debt-to-equity ratio negative or unusual?

MADISON SQUARE GRDN ENTERTNMNT (MSGE) has negative shareholder equity of -$13.3M as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is MADISON SQUARE GRDN ENTERTNMNT's Altman Z-Score?

MADISON SQUARE GRDN ENTERTNMNT (MSGE) has an Altman Z-Score of 1.83, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is MADISON SQUARE GRDN ENTERTNMNT's Piotroski F-Score?

MADISON SQUARE GRDN ENTERTNMNT (MSGE) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are MADISON SQUARE GRDN ENTERTNMNT's earnings high quality?

MADISON SQUARE GRDN ENTERTNMNT (MSGE) has an earnings quality ratio of 3.08x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can MADISON SQUARE GRDN ENTERTNMNT cover its interest payments?

MADISON SQUARE GRDN ENTERTNMNT (MSGE) has an interest coverage ratio of 2.4x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.