Madison Square Garden Sports (MSGS) Financials

$191.52 +2.69 (+1.42%)

Closing price 04/17/2025 03:59 PM Eastern

Extended Trading

$191.61 +0.10 (+0.05%)

As of 04/17/2025 04:09 PM Eastern

Annual Income Statements for Madison Square Garden Sports

This table shows Madison Square Garden Sports' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	-41	-77	-73	142	11	-182	-14	51	48	59
Consolidated Net Income / (Loss)	-41	-77	-77	134	-3.12	-209	-16	49	46	59
Net Income / (Loss) Continuing Operations	-41	-77	-77	38	-48	-119	-16	49	46	59
Total Pre-Tax Income	-40	-77	-81	-21	-61	-98	-89	74	90	106
Total Operating Income	-0.41	-59	-56	-18	-58	-94	-78	86	85	146
Total Gross Profit	1,072	1,115	1,318	712	729	603	416	821	887	1,027
Total Revenue	1,072	1,115	1,318	712	729	603	416	821	887	1,027
Operating Revenue	1,072	1,115	1,318	712	729	603	416	821	887	1,027
Total Cost of Revenue	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Operating Expenses	1,072	1,174	1,375	731	788	697	494	735	802	881
Selling, General & Admin Expense	238	334	407	291	327	320	207	230	250	261
Depreciation Expense	109	102	107	21	20	18	5.57	5.04	3.58	3.16
Other Operating Expenses / (Income)	725	738	860	419	440	360	282	501	549	617
Total Other Income / (Expense), net	-40	-18	-25	-3.11	-2.45	-4.18	-11	-12	4.75	-40
Interest Expense	2.50	2.03	4.19	3.49	4.97	4.46	11	12	23	28
Interest & Investment Income	-38	-12	-18	0.90	1.19	0.70	0.03	0.31	2.39	2.79
Other Income / (Expense), net	0.19	-4.02	-2.55	-0.52	1.33	-0.42	-0.35	-0.73	25	-16
Income Tax Expense	0.44	0.30	-4.40	-59	-13	21	-73	25	44	47
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-4.07	-7.15	-15	-26	-1.94	-2.25	-2.17	0.00
Basic Earnings per Share	($1.63)	($3.12)	($3.05)	$5.99	$0.48	($7.62)	($0.58)	$2.11	$1.90	$2.45
Weighted Average Basic Shares Outstanding	24.93M	24.75M	23.85M	23.64M	23.77M	23.94M	24.13M	24.25M	24.09M	24.01M
Diluted Earnings per Share	($1.63)	($3.12)	($3.05)	$5.94	$0.48	($7.62)	($0.58)	$2.10	$1.89	$2.44
Weighted Average Diluted Shares Outstanding	24.93M	24.75M	23.85M	23.85M	23.90M	23.94M	24.13M	24.41M	24.19M	24.10M
Weighted Average Basic & Diluted Shares Outstanding	25M	24.80M	23.80M	23.60M	23.76M	24.00M	24.12M	24.23M	23.89M	23.95M

This table shows Madison Square Garden Sports' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Net Income / (Loss) Attributable to Common Shareholders	27	-18	22	52	-9.26	-19	14	38	25	-7.54	1.11
Consolidated Net Income / (Loss)	27	-19	22	52	-9.49	-19	14	38	25	-7.54	1.11
Net Income / (Loss) Continuing Operations	27	-19	22	52	-9.49	-19	14	38	25	-7.54	1.11
Total Pre-Tax Income	21	-39	46	95	-12	-34	25	72	43	-15	1.81
Total Operating Income	24	-36	52	82	-12	-15	29	80	52	-8.27	13
Total Gross Profit	175	24	354	383	127	43	327	430	231	53	358
Total Revenue	175	24	354	383	127	43	327	430	227	53	358
Operating Revenue	175	24	354	383	127	43	327	430	227	53	358
Total Cost of Revenue	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-3.52	0.00	0.00
Total Operating Expenses	151	60	302	301	139	58	298	350	178	62	344
Selling, General & Admin Expense	57	55	76	61	58	54	65	76	66	53	68
Depreciation Expense	1.20	1.03	0.84	0.84	0.87	0.79	0.79	0.79	0.79	0.78	0.79
Other Operating Expenses / (Income)	93	3.68	226	239	80	3.52	232	273	-	8.21	276
Total Other Income / (Expense), net	-2.95	-3.12	-5.13	13	-0.03	-19	-3.81	-7.85	-9.57	-6.32	-12
Interest Expense	2.58	3.31	6.08	7.00	6.49	6.93	7.42	6.92	6.32	6.06	5.59
Interest & Investment Income	0.17	0.36	0.57	0.70	0.77	0.45	0.62	0.48	1.24	0.86	0.69
Other Income / (Expense), net	-0.54	-0.17	0.39	19	5.70	-13	2.99	-1.40	-4.49	-1.13	-6.61
Income Tax Expense	-5.89	-20	25	43	-2.73	-15	11	34	17	-7.05	0.70
Basic Earnings per Share	$1.12	($0.73)	$0.85	$2.19	($0.41)	($0.79)	$0.59	$1.58	$1.07	($0.31)	$0.05
Weighted Average Basic Shares Outstanding	24.25M	24.30M	24.13M	23.97M	24.09M	23.97M	24.02M	24.03M	24.01M	24.05M	24.10M
Diluted Earnings per Share	$1.12	($0.73)	$0.84	$2.18	($0.40)	($0.79)	$0.59	$1.57	$1.07	($0.31)	$0.05
Weighted Average Diluted Shares Outstanding	24.41M	24.30M	24.19M	24.06M	24.19M	23.97M	24.07M	24.10M	24.10M	24.05M	24.17M
Weighted Average Basic & Diluted Shares Outstanding	24.23M	24.33M	23.88M	23.89M	23.89M	23.93M	23.95M	23.95M	23.95M	23.99M	24.01M
Cash Dividends to Common per Share	-	-	$7.00	-	-	$7.00	$7.00	-	-	$7.00	$7.00

This table details how cash moves in and out of Madison Square Garden Sports' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	8.07	1,430	-199	-15	-143	-1,027	-19	19	-51	54
Net Cash From Operating Activities	69	126	224	218	161	3.57	-35	178	152	92
Net Cash From Continuing Operating Activities	69	126	224	218	161	3.57	-35	178	152	92
Net Income / (Loss) Continuing Operations	-41	-77	-77	134	-3.12	-209	-16	49	46	59
Consolidated Net Income / (Loss)	-41	-77	-77	134	-3.12	-209	-16	49	46	59
Depreciation Expense	109	102	107	122	119	93	5.57	5.04	3.58	3.16
Non-Cash Adjustments To Reconcile Net Income	51	89	133	78	44	191	60	48	12	54
Changes in Operating Assets and Liabilities, net	-50	11	51	-117	1.18	-72	-85	76	91	-24
Net Cash From Investing Activities	-103	-116	-264	-182	-233	-515	-0.47	-2.93	-18	-8.90
Net Cash From Continuing Investing Activities	-103	-116	-264	-182	-233	-515	-0.47	-2.93	-18	-8.90
Purchase of Property, Plant & Equipment	-67	-74	-45	-198	-189	-362	-0.47	-0.93	-1.18	-1.45
Purchase of Investments	-	-7.09	-23	-1.50	-122	-405	0.00	-2.00	-14	-7.45
Other Investing Activities, net	-	-	-	0.00	0.00	0.48	-	0.00	-3.02	0.00
Net Cash From Financing Activities	41	1,420	-159	-51	-72	-521	17	-156	-185	-29
Net Cash From Continuing Financing Activities	41	1,420	-159	-51	-72	-521	17	-156	-185	-29
Repayment of Debt	-	-	-3.23	-0.75	-112	-20	-29	-138	-136	-95
Repurchase of Preferred Equity	-	-	-	-	-	-	0.00	0.00	-75	0.00
Payment of Dividends	-	-	-	-4.12	-2.19	-0.54	0.00	0.00	-171	-0.70
Issuance of Debt	-	-	0.00	0.00	56	350	60	0.00	215	75
Other Financing Activities, net	41	1,526	-7.33	-38	-20	-854	-14	-18	-18	-8.08

This table details how cash moves in and out of Madison Square Garden Sports' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Net Change in Cash & Equivalents	41	-9.98	-36	21	-25	12	-11	3.55	50	-37	58
Net Cash From Operating Activities	114	1.29	30	83	38	-54	34	4.04	108	-26	62
Net Cash From Continuing Operating Activities	114	1.29	30	83	38	-54	34	4.04	108	-26	62
Net Income / (Loss) Continuing Operations	27	-19	22	52	-9.49	-19	14	38	25	-7.54	1.11
Consolidated Net Income / (Loss)	27	-19	22	52	-9.49	-19	14	38	25	-7.54	1.11
Depreciation Expense	1.20	1.03	0.84	0.84	0.87	0.79	0.79	0.79	0.79	0.78	0.79
Non-Cash Adjustments To Reconcile Net Income	-0.26	-9.28	35	-0.18	-13	5.33	16	34	-4.04	-6.88	27
Changes in Operating Assets and Liabilities, net	86	28	-27	31	59	-41	2.56	-69	86	-13	33
Net Cash From Investing Activities	-1.80	-0.27	-1.04	-9.05	-7.39	-1.73	-3.51	-0.45	-3.21	-1.16	-1.14
Net Cash From Continuing Investing Activities	-1.80	-0.27	-1.04	-9.05	-7.39	-1.73	-3.51	-0.45	-3.21	-1.16	-1.14
Purchase of Property, Plant & Equipment	-0.05	-0.27	-0.39	-0.37	-0.15	-0.39	-0.60	-0.09	-0.37	-0.36	-0.53
Purchase of Investments	-	-	-	-	-	-1.34	-2.91	-	-	-0.80	-0.61
Net Cash From Financing Activities	-71	-11	-65	-53	-56	68	-42	-0.03	-55	-9.50	-2.87
Net Cash From Continuing Financing Activities	-71	-11	-65	-53	-56	68	-42	-0.03	-55	-9.50	-2.87
Payment of Dividends	-	0.00	-171	-0.14	-0.10	-0.54	-0.11	-0.03	-0.02	-0.44	-0.16
Other Financing Activities, net	-6.16	-11	-4.44	0.00	-2.46	-6.63	-1.45	-	-	-9.06	-2.71

This table presents Madison Square Garden Sports' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	2,149	3,544	1,272	3,736	3,764	1,234	1,310	1,302	1,315	1,346
Total Current Assets	169	1,604	1,272	1,416	1,413	128	185	205	149	217
Cash & Equivalents	14	1,444	1,238	1,226	4.32	78	65	91	40	89
Restricted Cash	13	27	34	31	22	13	7.13	0.00	0.06	5.77
Accounts Receivable	52	80	-	101	16	7.54	81	76	56	66
Prepaid Expenses	24	27	-	29	21	21	17	19	25	31
Other Current Assets	35	25	-	29	6.37	9.43	16	20	28	25
Plant, Property, & Equipment, net	1,189	1,161	0.00	1,254	31	40	36	33	31	29
Total Noncurrent Assets	792	779	0.00	1,067	2,319	1,066	1,089	1,064	1,135	1,101
Goodwill	277	277	-	393	227	227	227	227	227	227
Intangible Assets	189	183	-	420	118	115	114	113	104	104
Other Noncurrent Operating Assets	76	54	-	45	5.89	724	732	724	805	771
Total Liabilities & Shareholders' Equity	2,149	3,544	47	3,736	3,764	1,234	1,310	1,302	1,315	1,346
Total Liabilities	926	958	0.00	1,105	1,057	1,437	1,512	1,447	1,652	1,613
Total Current Liabilities	534	615	0.00	766	760	290	368	438	521	522
Short-Term Debt	-	-	-	4.37	-	0.00	30	30	30	30
Accounts Payable	4.90	29	-	43	1.24	20	19	31	15	17
Accrued Expenses	122	134	-	180	124	33	16	82	124	22
Current Deferred Revenue	311	332	-	325	110	126	131	132	157	149
Current Employee Benefit Liabilities	96	119	-	124	78	71	90	119	144	134
Other Current Liabilities	-	-	-	90	0.00	39	81	44	50	171
Total Noncurrent Liabilities	392	343	0.00	340	297	1,147	1,144	1,009	1,132	1,091
Long-Term Debt	-	-	-	101	0.00	350	355	220	295	275
Noncurrent Deferred Revenue	-	-	-	-	-	2.01	32	31	13	1.15
Noncurrent Deferred & Payable Income Tax Liabilities	207	195	-	79	36	58	0.00	8.92	24	17
Noncurrent Employee Benefit Liabilities	134	99	-	103	7.05	57	64	5.01	54	48
Other Noncurrent Operating Liabilities	51	49	-	57	55	680	693	744	746	750
Commitments & Contingencies	0.00	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,223	2,586	2,420	2,554	2,639	-203	-202	-145	-337	-266
Total Preferred & Common Equity	1,223	2,586	-34	2,536	2,621	-207	-204	-147	-337	-266
Preferred Stock	-	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,223	2,586	-34	2,536	2,621	-207	-204	-147	-337	-266
Common Stock	-	2,806	-	2,818	2,846	6.19	23	18	17	19
Retained Earnings	-	-76	-	-11	29	-44	-79	-36	-174	-115
Treasury Stock	-	-102	-	-224	-208	-167	-147	-128	-179	-170
Accumulated Other Comprehensive Income / (Loss)	-40	-43	-34	-47	-47	-2.14	-2.03	-1.19	-1.01	-0.95

This table presents Madison Square Garden Sports' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025
Total Assets	1,364	1,346	1,301	1,363	1,366	1,368	1,388	1,373	1,412
Total Current Assets	264	220	208	262	201	216	251	236	297
Cash & Equivalents	49	81	44	65	51	38	40	52	108
Restricted Cash	0.98	0.00	1.25	0.65	1.21	3.35	4.75	5.83	8.03
Accounts Receivable	144	58	99	107	53	90	100	71	99
Prepaid Expenses	22	65	44	23	71	56	32	84	61
Other Current Assets	48	16	21	66	24	29	74	22	20
Plant, Property, & Equipment, net	33	32	32	31	30	30	29	28	28
Total Noncurrent Assets	1,066	1,094	1,061	1,070	1,135	1,123	1,109	1,109	1,087
Goodwill	227	227	227	227	227	227	227	227	227
Intangible Assets	113	113	113	113	104	104	104	104	104
Other Noncurrent Operating Assets	726	742	721	730	805	793	779	779	757
Total Liabilities & Shareholders' Equity	1,364	1,346	1,301	1,363	1,366	1,368	1,388	1,373	1,412
Total Liabilities	1,542	1,518	1,687	1,696	1,725	1,708	1,682	1,651	1,686
Total Current Liabilities	454	522	483	511	554	560	527	575	603
Short-Term Debt	30	30	30	30	30	30	30	30	30
Accounts Payable	35	35	16	16	12	11	11	9.99	14
Accrued Expenses	27	77	109	128	91	121	167	109	154
Current Deferred Revenue	102	267	188	132	300	258	117	307	268
Current Employee Benefit Liabilities	130	70	96	161	70	91	152	69	87
Other Current Liabilities	130	44	44	44	51	51	50	50	50
Total Noncurrent Liabilities	1,087	996	1,204	1,186	1,171	1,147	1,156	1,076	1,083
Long-Term Debt	285	220	405	350	370	330	330	275	275
Noncurrent Deferred Revenue	31	31	31	32	1.61	1.41	1.20	1.12	0.92
Noncurrent Deferred & Payable Income Tax Liabilities	15	0.00	13	37	8.86	20	15	9.79	6.81
Noncurrent Employee Benefit Liabilities	51	5.00	5.00	4.75	4.53	4.54	53	52	4.10
Other Noncurrent Operating Liabilities	705	739	750	762	786	792	757	739	796
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-178	-172	-386	-333	-359	-339	-294	-278	-273
Total Preferred & Common Equity	-180	-173	-388	-334	0.00	-339	-294	-278	-273
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-180	-173	-388	-334	-359	-339	-294	-278	-273
Common Stock	13	0.25	0.25	11	7.80	12	18	8.60	10
Retained Earnings	-63	-62	-217	-165	-193	-179	-141	-123	-122
Treasury Stock	-128	-110	-170	-179	-173	-171	-171	-163	-161
Accumulated Other Comprehensive Income / (Loss)	-1.96	-1.18	-1.18	-1.18	-1.00	-1.00	-0.99	-0.94	-0.93

This table displays calculated financial ratios and metrics derived from Madison Square Garden Sports' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	17.29%	4.08%	18.21%	-45.97%	2.38%	-17.29%	-31.09%	97.57%	8.05%	15.74%
EBITDA Growth	588.40%	-63.30%	43.67%	81.36%	-39.94%	-101.48%	-7,815.14%	223.47%	26.10%	17.23%
EBIT Growth	99.81%	-28,903.70%	6.04%	68.24%	-204.12%	-65.82%	16.44%	208.33%	29.36%	18.17%
NOPAT Growth	99.64%	-14,341.13%	3.96%	67.72%	-220.12%	-61.30%	16.43%	203.65%	-24.06%	87.94%
Net Income Growth	65.21%	-89.98%	0.65%	275.09%	-102.32%	-6,600.77%	92.39%	407.48%	-6.65%	28.80%
EPS Growth	65.25%	-91.41%	2.24%	275.09%	-102.32%	-1,687.50%	92.39%	462.07%	-10.00%	29.10%
Operating Cash Flow Growth	-49.40%	81.37%	77.71%	-2.64%	-25.90%	-97.79%	-1,090.08%	604.04%	-14.37%	-39.58%
Free Cash Flow Firm Growth	0.00%	105.76%	1,388.05%	-257.94%	194.68%	-108.80%	-3.03%	240.22%	-29.07%	-22.62%
Invested Capital Growth	0.00%	-10.10%	-100.00%	0.00%	-98.84%	279.73%	98.77%	-87.75%	-487.31%	-6.69%
Revenue Q/Q Growth	0.00%	-3.23%	7.14%	-53.94%	-13.04%	2,267.95%	58.76%	3.57%	-5.16%	10.83%
EBITDA Q/Q Growth	0.00%	-56.90%	-36.49%	12.27%	-37.42%	98.22%	20.10%	96.95%	-20.83%	68.30%
EBIT Q/Q Growth	0.00%	-668.22%	-319.17%	32.87%	-182.14%	44.28%	23.48%	106.58%	-21.18%	71.32%
NOPAT Q/Q Growth	0.00%	-618.96%	-300.98%	14.17%	-199.68%	45.78%	23.56%	-44.10%	-46.35%	112.38%
Net Income Q/Q Growth	0.00%	-286.64%	-60.80%	37.92%	-112.18%	-0.13%	89.00%	-31.53%	-44.20%	147.08%
EPS Q/Q Growth	0.00%	-271.43%	-63.10%	37.92%	-112.18%	-3.25%	90.14%	-30.69%	-46.15%	151.55%
Operating Cash Flow Q/Q Growth	0.00%	-5.37%	51.73%	-22.55%	7.53%	-97.96%	78.18%	113.82%	-33.31%	329.48%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	321.22%	-133.15%	146.35%	93.45%	-108.09%	68.73%	-41.24%	4,656.11%
Invested Capital Q/Q Growth	0.00%	-7.50%	-100.00%	148.72%	0.00%	-96.30%	44.89%	-84.36%	-179.64%	-364.41%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	10.13%	3.57%	4.34%	14.57%	8.55%	-0.15%	-17.61%	11.01%	12.84%	13.01%
Operating Margin	-0.04%	-5.26%	-4.27%	-2.55%	-7.98%	-15.56%	-18.87%	10.48%	9.60%	14.22%
EBIT Margin	-0.02%	-5.62%	-4.46%	-2.62%	-7.80%	-15.63%	-18.95%	10.39%	12.44%	12.70%
Profit (Net Income) Margin	-3.80%	-6.93%	-5.82%	18.87%	-0.43%	-34.62%	-3.82%	5.95%	5.14%	5.72%
Tax Burden Percent	101.08%	100.39%	94.58%	-631.57%	5.14%	213.02%	17.80%	66.11%	50.74%	55.62%
Interest Burden Percent	18,633.33%	122.90%	137.93%	113.86%	106.65%	103.99%	113.36%	86.62%	81.44%	80.99%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	33.89%	49.26%	44.38%
Return on Invested Capital (ROIC)	-0.06%	-4.56%	-9.26%	-2.00%	-6.34%	-186.11%	-65.76%	91.28%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	29.19%	-0.96%	-7.49%	-9.63%	-8.20%	-174.34%	-52.13%	87.87%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	-6.59%	0.51%	6.24%	7.24%	6.23%	169.42%	73.61%	-119.43%	0.00%	0.00%
Return on Equity (ROE)	-6.65%	-4.06%	-3.02%	5.24%	-0.12%	-16.69%	7.84%	-28.15%	-18.91%	-19.48%
Cash Return on Invested Capital (CROIC)	-200.06%	6.07%	190.74%	-202.00%	189.07%	-302.73%	-131.88%	247.64%	0.00%	0.00%
Operating Return on Assets (OROA)	-0.01%	-2.20%	-2.44%	-0.75%	-1.52%	-3.77%	-6.19%	6.54%	8.44%	9.80%
Return on Assets (ROA)	-1.89%	-2.72%	-3.19%	5.37%	-0.08%	-8.36%	-1.25%	3.74%	3.49%	4.42%
Return on Common Equity (ROCE)	-6.65%	-4.06%	-1.51%	2.56%	-0.11%	-16.09%	7.96%	-28.49%	-18.98%	-19.48%
Return on Equity Simple (ROE_SIMPLE)	-3.33%	-2.99%	225.09%	5.30%	-0.12%	100.91%	7.78%	-33.23%	-13.53%	-22.07%
Net Operating Profit after Tax (NOPAT)	-0.28	-41	-39	-13	-41	-66	-55	57	43	81
NOPAT Margin	-0.03%	-3.68%	-2.99%	-1.79%	-5.58%	-10.89%	-13.21%	6.93%	4.87%	7.91%
Net Nonoperating Expense Percent (NNEP)	-29.25%	-3.60%	-1.76%	7.62%	1.86%	-11.77%	-13.63%	3.40%	-1.09%	9.08%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	22.24%	29.91%	30.87%	40.81%	44.89%	52.99%	49.72%	27.96%	28.16%	25.45%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	100.04%	105.26%	104.27%	102.55%	107.98%	115.56%	118.87%	89.52%	90.40%	85.78%
Earnings before Interest and Taxes (EBIT)	-0.22	-63	-59	-19	-57	-94	-79	85	110	130
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	109	40	57	104	62	-0.93	-73	90	114	134
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	1.56	0.00	2.76	2.42	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	1.90	0.00	4.07	2.79	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.00	3.61	3.36	9.84	8.71	5.58	9.56	4.25	5.06	4.39
Price to Earnings (P/E)	0.00	0.00	0.00	49.52	555.97	0.00	0.00	68.34	94.01	76.65
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.72%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	2.02%	0.18%	0.00%	0.00%	1.46%	1.06%	1.30%
Enterprise Value to Invested Capital (EV/IC)	0.00	2.70	0.00	4.52	435.71	64.93	38.62	268.65	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	2.06	2.45	8.06	8.79	6.02	10.32	4.45	5.38	4.59
Enterprise Value to EBITDA (EV/EBITDA)	0.00	57.66	56.56	55.35	102.89	0.00	0.00	40.43	41.91	35.28
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	42.82	43.27	36.14
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	64.22	110.55	58.05
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	18.26	14.48	26.40	39.77	1,017.14	0.00	20.53	31.33	51.18
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	42.09	3.99	0.00	5.28	0.00	0.00	23.67	43.63	55.64
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.04	0.00	-1.72	-1.91	-1.72	-0.96	-1.15
Long-Term Debt to Equity	0.00	0.00	0.00	0.04	0.00	-1.72	-1.76	-1.51	-0.87	-1.03
Financial Leverage	-0.23	-0.53	-0.83	-0.75	-0.76	-0.97	-1.41	-1.36	-0.92	-0.82
Leverage Ratio	1.76	1.49	0.95	0.98	1.41	2.00	-6.28	-7.52	-5.42	-4.41
Compound Leverage Factor	327.33	1.84	1.31	1.11	1.50	2.08	-7.11	-6.52	-4.42	-3.57
Debt to Total Capital	0.00%	0.00%	0.00%	3.86%	0.00%	238.80%	210.23%	238.95%	-2,656.53%	788.32%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.16%	0.00%	0.00%	16.38%	28.67%	-245.22%	77.54%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	3.70%	0.00%	238.80%	193.85%	210.28%	-2,411.31%	710.78%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	3.22%	3.44%	3.17%	2.42%	1.33%	1.64%	0.00%	0.00%
Common Equity to Total Capital	100.00%	99.99%	-1.36%	92.68%	96.83%	-141.22%	-111.56%	-140.59%	2,756.53%	-688.32%
Debt to EBITDA	0.00	0.00	0.00	1.02	0.00	-378.38	-5.26	2.77	2.85	2.28
Net Debt to EBITDA	0.00	0.00	0.00	-13.11	0.00	-280.35	-4.27	1.76	2.50	1.57
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.98	0.00	-378.38	-4.85	2.43	2.59	2.06
Debt to NOPAT	0.00	0.00	0.00	-8.31	0.00	-5.33	-7.01	4.39	7.52	3.76
Net Debt to NOPAT	0.00	0.00	0.00	106.94	0.00	-3.95	-5.70	2.79	6.58	2.59
Long-Term Debt to NOPAT	0.00	0.00	0.00	-7.96	0.00	-5.33	-6.47	3.87	6.83	3.39
Altman Z-Score	0.00	3.09	0.00	4.18	3.97	1.44	1.44	2.04	2.06	2.37
Noncontrolling Interest Sharing Ratio	0.00%	0.01%	49.83%	51.24%	3.38%	3.57%	-1.48%	-1.20%	-0.35%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.32	2.61	0.00	1.85	1.86	0.44	0.50	0.47	0.29	0.42
Quick Ratio	0.18	2.48	0.00	1.73	0.03	0.29	0.40	0.38	0.19	0.30
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-947	55	812	-1,283	1,214	-107	-110	154	110	85
Operating Cash Flow to CapEx	110.50%	170.63%	494.28%	109.96%	85.39%	0.98%	-7,580.69%	19,104.72%	12,910.50%	6,349.48%
Free Cash Flow to Firm to Interest Expense	-379.25	26.91	193.85	-367.29	244.34	-23.96	-10.43	13.16	4.79	3.07
Operating Cash Flow to Interest Expense	27.76	62.02	53.36	62.32	32.45	0.80	-3.34	15.17	6.66	3.34
Operating Cash Flow Less CapEx to Interest Expense	2.64	25.68	42.57	5.65	-5.55	-80.45	-3.39	15.09	6.61	3.29
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.50	0.39	0.55	0.28	0.19	0.24	0.33	0.63	0.68	0.77
Accounts Receivable Turnover	20.58	16.88	0.00	0.00	12.49	52.28	9.43	10.52	13.48	16.82
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.90	0.95	0.00	0.00	1.14	17.03	11.04	23.94	28.00	34.79
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	17.73	21.62	0.00	0.00	29.23	6.98	38.70	34.70	27.08	21.70
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	17.73	21.62	0.00	0.00	29.23	6.98	38.70	34.70	27.08	21.70
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	947	851	0.00	1,270	15	56	111	14	-53	-56
Invested Capital Turnover	2.26	1.24	3.10	1.12	1.14	17.09	4.98	13.17	-45.41	-18.86
Increase / (Decrease) in Invested Capital	947	-96	-851	1,270	-1,255	41	55	-97	-66	-3.52
Enterprise Value (EV)	0.00	2,297	3,237	5,745	6,413	3,629	4,291	3,655	4,778	4,715
Market Capitalization	0.00	4,032	4,428	7,011	6,353	3,366	3,975	3,494	4,493	4,505
Book Value per Share	$49.07	$105.70	($1.45)	$107.18	$110.30	($8.63)	($8.47)	($6.07)	($14.11)	($11.12)
Tangible Book Value per Share	$30.36	$86.91	($1.45)	$72.85	$95.76	($22.88)	($22.60)	($20.09)	($27.93)	($24.91)
Total Capital	1,223	2,586	2,500	2,736	2,706	147	183	105	-12	39
Total Debt	0.00	0.00	0.00	106	0.00	350	385	250	325	305
Total Long-Term Debt	0.00	0.00	0.00	101	0.00	350	355	220	295	275
Net Debt	-276	-1,735	-1,272	-1,361	-26	259	313	159	285	210
Capital Expenditures (CapEx)	63	74	45	198	189	362	0.47	0.93	1.18	1.45
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-392	-482	0.00	-602	627	-253	-225	-294	-382	-370
Debt-free Net Working Capital (DFNWC)	-365	989	1,272	655	653	-162	-153	-203	-341	-275
Net Working Capital (NWC)	-365	989	1,272	650	653	-162	-183	-233	-371	-305
Net Nonoperating Expense (NNE)	40	36	37	-147	-38	143	-39	8.03	-2.41	22
Net Nonoperating Obligations (NNO)	-276	-1,735	-2,500	-1,361	-2,692	259	313	159	285	210
Total Depreciation and Amortization (D&A)	109	102	116	122	119	93	5.57	5.04	3.58	3.16
Debt-free, Cash-free Net Working Capital to Revenue	-36.57%	-43.25%	0.00%	-84.51%	86.03%	-41.88%	-54.14%	-35.80%	-43.02%	-36.02%
Debt-free Net Working Capital to Revenue	-34.07%	88.68%	96.49%	91.87%	89.57%	-26.85%	-36.81%	-24.72%	-38.46%	-26.78%
Net Working Capital to Revenue	-34.07%	88.68%	96.49%	91.26%	89.57%	-26.85%	-44.03%	-28.37%	-41.84%	-29.70%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($1.16)	($2.23)	($2.18)	$4.27	$0.34	($7.62)	($0.58)	$2.11	$1.90	$2.45
Adjusted Weighted Average Basic Shares Outstanding	34.95M	34.70M	33.44M	33.14M	33.32M	23.94M	24.13M	24.25M	24.09M	24.01M
Adjusted Diluted Earnings per Share	($1.16)	($2.23)	($2.18)	$4.24	$0.34	($7.62)	($0.58)	$2.10	$1.89	$2.44
Adjusted Weighted Average Diluted Shares Outstanding	34.95M	34.70M	33.44M	33.43M	33.51M	23.94M	24.13M	24.41M	24.19M	24.10M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	35.05M	33.74M	33.01M	33.18M	33.31M	24.00M	24.12M	24.23M	23.89M	23.95M
Normalized Net Operating Profit after Tax (NOPAT)	-0.28	-41	-39	-13	-41	-66	-55	57	43	81
Normalized NOPAT Margin	-0.03%	-3.68%	-2.99%	-1.79%	-5.58%	-10.89%	-13.21%	6.93%	4.87%	7.91%
Pre Tax Income Margin	-3.76%	-6.90%	-6.16%	-2.99%	-8.31%	-16.25%	-21.49%	9.00%	10.13%	10.29%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-0.09	-30.89	-14.05	-5.35	-11.44	-21.14	-7.46	7.27	4.82	4.73
NOPAT to Interest Expense	-0.11	-20.24	-9.41	-3.64	-8.20	-14.73	-5.20	4.85	1.89	2.94
EBIT Less CapEx to Interest Expense	-25.21	-67.24	-24.85	-62.03	-49.44	-102.39	-7.50	7.19	4.77	4.68
NOPAT Less CapEx to Interest Expense	-25.24	-56.59	-20.21	-60.32	-46.19	-95.98	-5.24	4.77	1.84	2.89
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	3.07%	-70.13%	-0.26%	0.00%	0.00%	374.60%	1.19%
Augmented Payout Ratio	0.00%	-136.80%	-192.69%	11.87%	-70.13%	-0.26%	0.00%	0.00%	374.60%	1.19%

This table displays calculated financial ratios and metrics derived from Madison Square Garden Sports' official financial filings.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	19.27%	28.17%	22.14%	13.31%	-27.56%	78.70%	-7.58%	12.33%	79.05%	23.84%	9.44%
EBITDA Growth	221.02%	-4.36%	42.27%	62.97%	-123.09%	23.81%	-38.19%	-22.36%	963.76%	67.72%	-77.00%
EBIT Growth	211.04%	-3.04%	44.76%	64.81%	-128.06%	23.78%	-38.72%	-22.49%	835.46%	65.81%	-78.92%
NOPAT Growth	309.42%	-2.75%	43.54%	79.30%	-128.06%	58.71%	-32.41%	-6.00%	465.45%	44.19%	-50.11%
Net Income Growth	-45.79%	-9.72%	43.68%	116.62%	-135.63%	-1.59%	-34.86%	-26.90%	368.50%	59.93%	-92.19%
EPS Growth	-45.63%	-7.35%	29.23%	118.00%	-135.71%	-8.22%	-29.76%	-27.98%	367.50%	60.76%	-91.53%
Operating Cash Flow Growth	497.78%	106.65%	-30.11%	107.01%	-66.90%	-4,313.31%	11.86%	-95.15%	187.62%	51.69%	82.33%
Free Cash Flow Firm Growth	283.44%	270.18%	366.93%	929.35%	-54.85%	-102.61%	-65.20%	-98.73%	-39.88%	687.08%	78.29%
Invested Capital Growth	-87.75%	-102.62%	-96.38%	-121.66%	-487.31%	-272.10%	-695.36%	212.83%	-6.69%	-179.26%	-311.29%
Revenue Q/Q Growth	-48.13%	-86.25%	1,368.28%	8.21%	-66.84%	-66.08%	659.42%	31.53%	-47.15%	-76.54%	571.13%
EBITDA Q/Q Growth	-61.04%	-243.81%	250.52%	93.24%	-105.52%	-374.41%	222.11%	142.74%	-38.57%	-117.73%	187.00%
EBIT Q/Q Growth	-62.22%	-255.65%	243.92%	94.74%	-106.43%	-322.84%	215.71%	146.29%	-38.97%	-119.66%	171.35%
NOPAT Q/Q Growth	22.07%	-182.58%	196.50%	84.31%	-119.10%	-21.54%	257.95%	156.31%	-25.73%	-118.56%	241.21%
Net Income Q/Q Growth	11.41%	-169.52%	217.86%	137.28%	-118.32%	-98.24%	175.58%	166.29%	-32.70%	-129.59%	114.73%
EPS Q/Q Growth	12.00%	-165.18%	215.07%	159.52%	-118.35%	-97.50%	174.68%	166.10%	-31.85%	-128.97%	116.13%
Operating Cash Flow Q/Q Growth	183.12%	-98.87%	2,257.35%	174.74%	-54.73%	-243.72%	162.58%	-88.09%	2,583.95%	-124.14%	336.18%
Free Cash Flow Firm Q/Q Growth	774.83%	-29.37%	27.99%	30.15%	-61.63%	-104.09%	1,804.57%	-95.26%	1,720.88%	-60.09%	417.65%
Invested Capital Q/Q Growth	-84.36%	-121.65%	216.43%	-649.36%	-179.64%	79.20%	-86.29%	204.11%	-364.41%	45.54%	-174.36%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	101.55%	100.00%	100.00%
EBITDA Margin	13.91%	-145.46%	14.91%	26.63%	-4.43%	-62.02%	9.97%	18.40%	21.39%	-16.16%	2.10%
Operating Margin	13.53%	-149.02%	14.57%	21.36%	-9.61%	-34.44%	8.82%	18.55%	23.02%	-15.52%	3.72%
EBIT Margin	13.22%	-149.71%	14.67%	26.41%	-5.12%	-63.86%	9.73%	18.22%	21.04%	-17.63%	1.87%
Profit (Net Income) Margin	15.21%	-76.91%	6.17%	13.54%	-7.48%	-43.72%	4.35%	8.81%	11.22%	-14.15%	0.31%
Tax Burden Percent	128.36%	47.48%	47.07%	54.67%	77.66%	55.41%	56.88%	52.68%	59.66%	51.69%	61.42%
Interest Burden Percent	89.60%	108.20%	89.38%	93.77%	188.05%	123.56%	78.62%	91.77%	89.37%	155.23%	26.98%
Effective Tax Rate	-28.36%	0.00%	52.93%	45.33%	0.00%	0.00%	43.12%	47.32%	40.34%	0.00%	38.58%
Return on Invested Capital (ROIC)	228.78%	-1,573.70%	124.30%	320.73%	0.00%	0.00%	0.00%	7,490.49%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	227.17%	-1,571.13%	123.61%	323.19%	0.00%	0.00%	0.00%	7,489.18%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	-308.76%	1,997.23%	-143.99%	-366.29%	0.00%	0.00%	0.00%	-7,518.06%	0.00%	0.00%	0.00%
Return on Equity (ROE)	-79.98%	423.53%	-19.68%	-45.56%	-18.91%	-17.09%	-10.40%	-27.57%	-19.48%	-22.03%	-18.60%
Cash Return on Invested Capital (CROIC)	247.64%	0.00%	312.93%	0.00%	0.00%	0.00%	0.00%	-8.75%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	8.32%	-92.57%	9.86%	18.12%	-3.47%	-42.69%	6.41%	12.27%	16.24%	-13.35%	1.44%
Return on Assets (ROA)	9.57%	-47.56%	4.15%	9.29%	-5.07%	-29.23%	2.87%	5.93%	8.66%	-10.72%	0.24%
Return on Common Equity (ROCE)	-80.94%	427.39%	-19.82%	-45.80%	-18.98%	-17.14%	-10.42%	-27.60%	-19.48%	-22.03%	-18.60%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-27.25%	-13.89%	-24.50%	0.00%	0.00%	-11.12%	-8.09%	0.00%	-25.24%	-20.85%
Net Operating Profit after Tax (NOPAT)	30	-25	24	45	-8.54	-10	16	42	31	-5.79	8.18
NOPAT Margin	17.37%	-104.32%	6.86%	11.68%	-6.73%	-24.11%	5.01%	9.77%	13.73%	-10.86%	2.29%
Net Nonoperating Expense Percent (NNEP)	1.60%	-2.57%	0.70%	-2.46%	0.43%	3.27%	0.61%	1.31%	2.31%	0.59%	2.78%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	78.76%	-	-	-	25.66%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-1.55%	0.00%	0.00%
SG&A Expenses to Revenue	32.78%	229.49%	21.38%	15.96%	45.59%	124.42%	19.90%	17.77%	29.22%	98.65%	18.98%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	86.47%	249.02%	85.43%	78.64%	109.61%	134.44%	91.18%	81.45%	78.53%	115.52%	96.28%
Earnings before Interest and Taxes (EBIT)	23	-36	52	101	-6.50	-27	32	78	48	-9.40	6.71
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	24	-35	53	102	-5.63	-27	33	79	49	-8.62	7.50
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	4.25	3.83	5.01	4.97	5.06	4.65	4.95	4.77	4.39	4.81	5.07
Price to Earnings (P/E)	68.34	63.61	79.15	55.24	94.01	90.02	112.96	183.93	76.65	71.21	95.10
Dividend Yield	0.00%	0.00%	3.82%	3.59%	3.72%	3.97%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	1.46%	1.57%	1.26%	1.81%	1.06%	1.11%	0.89%	0.54%	1.30%	1.40%	1.05%
Enterprise Value to Invested Capital (EV/IC)	268.65	0.00	1,414.58	0.00	0.00	0.00	0.00	222.65	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	4.45	4.03	5.45	5.31	5.38	5.03	5.31	5.11	4.59	5.05	5.25
Enterprise Value to EBITDA (EV/EBITDA)	40.43	37.48	46.38	34.51	41.91	37.27	45.71	59.62	35.28	34.51	44.26
Enterprise Value to EBIT (EV/EBIT)	42.82	39.54	48.36	35.47	43.27	38.32	47.23	62.16	36.14	35.24	45.39
Enterprise Value to NOPAT (EV/NOPAT)	64.22	60.48	77.83	61.68	110.55	89.92	109.07	123.78	58.05	61.24	73.12
Enterprise Value to Operating Cash Flow (EV/OCF)	20.53	16.78	26.14	21.73	31.33	46.99	46.41	220.67	51.18	43.59	37.86
Enterprise Value to Free Cash Flow (EV/FCFF)	23.67	19.54	31.56	26.66	43.63	77.64	70.05	0.00	55.64	49.80	39.97
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-1.72	-1.45	-1.13	-1.14	-0.96	-1.12	-1.06	-1.22	-1.15	-1.10	-1.12
Long-Term Debt to Equity	-1.51	-1.28	-1.05	-1.05	-0.87	-1.03	-0.97	-1.12	-1.03	-0.99	-1.01
Financial Leverage	-1.36	-1.27	-1.16	-1.13	-0.92	-0.97	-0.98	-1.00	-0.82	-0.93	-0.83
Leverage Ratio	-7.52	-6.62	-4.45	-5.34	-5.42	-5.11	-3.68	-4.39	-4.41	-4.31	-4.54
Compound Leverage Factor	-6.74	-7.16	-3.97	-5.01	-10.20	-6.32	-2.89	-4.03	-3.94	-6.69	-1.23
Debt to Total Capital	238.95%	320.14%	895.28%	808.65%	-2,656.53%	964.86%	1,729.85%	545.08%	788.32%	1,110.26%	957.19%
Short-Term Debt to Total Capital	28.67%	38.42%	61.74%	63.84%	-245.22%	72.36%	144.15%	45.42%	77.54%	109.21%	94.15%
Long-Term Debt to Total Capital	210.28%	281.73%	833.54%	744.81%	-2,411.31%	892.49%	1,585.70%	499.66%	710.78%	1,001.06%	863.04%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	1.64%	1.86%	2.75%	1.64%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	-140.59%	-222.00%	-798.04%	-710.29%	2,756.53%	-864.86%	-1,629.85%	-445.08%	-688.32%	-1,010.26%	-857.19%
Debt to EBITDA	2.77	2.81	4.16	2.64	2.85	3.27	3.52	4.53	2.28	2.01	2.41
Net Debt to EBITDA	1.76	1.90	3.73	2.18	2.50	2.84	3.12	3.97	1.57	1.63	1.49
Long-Term Debt to EBITDA	2.43	2.47	3.87	2.43	2.59	3.02	3.23	4.16	2.06	1.81	2.17
Debt to NOPAT	4.39	4.54	6.98	4.72	7.52	7.89	8.41	9.41	3.76	3.57	3.98
Net Debt to NOPAT	2.79	3.07	6.25	3.90	6.58	6.85	7.44	8.24	2.59	2.89	2.47
Long-Term Debt to NOPAT	3.87	3.99	6.50	4.35	6.83	7.30	7.71	8.63	3.39	3.22	3.59
Altman Z-Score	1.89	1.44	1.92	2.19	1.77	1.56	1.76	2.05	2.16	2.12	2.32
Noncontrolling Interest Sharing Ratio	-1.20%	-0.91%	-0.68%	-0.52%	-0.35%	-0.27%	-0.18%	-0.12%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.47	0.42	0.43	0.51	0.29	0.36	0.38	0.48	0.42	0.41	0.49
Quick Ratio	0.38	0.27	0.30	0.34	0.19	0.19	0.23	0.27	0.30	0.22	0.34
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	128	90	116	151	58	-2.36	40	1.91	35	14	72
Operating Cash Flow to CapEx	247,441.30%	474.17%	7,747.31%	22,432.35%	25,454.05%	-13,846.80%	5,656.76%	4,294.68%	29,523.43%	-7,286.35%	11,590.81%
Free Cash Flow to Firm to Interest Expense	49.64	27.28	19.02	21.49	8.90	-0.34	5.42	0.28	5.49	2.29	12.84
Operating Cash Flow to Interest Expense	44.17	0.39	4.98	11.88	5.81	-7.81	4.57	0.58	17.14	-4.32	11.06
Operating Cash Flow Less CapEx to Interest Expense	44.15	0.31	4.92	11.83	5.78	-7.87	4.49	0.57	17.09	-4.38	10.96
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.63	0.62	0.67	0.69	0.68	0.67	0.66	0.67	0.77	0.76	0.77
Accounts Receivable Turnover	10.52	13.46	8.48	7.46	13.48	16.26	9.33	8.96	16.82	16.68	11.28
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	23.94	24.71	26.85	28.83	28.00	29.05	28.46	30.65	34.79	35.45	37.10
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.26	0.00	0.00	0.00
Days Sales Outstanding (DSO)	34.70	27.11	43.03	48.95	27.08	22.44	39.12	40.74	21.70	21.89	32.36
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1,406.75	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	34.70	27.11	43.03	48.95	27.08	22.44	39.12	-1,366.01	21.70	21.89	32.36
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	14	-2.95	3.43	-19	-53	-11	-20	21	-56	-31	-84
Invested Capital Turnover	13.17	15.09	18.13	27.47	-45.41	-130.34	-103.54	766.60	-18.86	-49.91	-20.46
Increase / (Decrease) in Invested Capital	-97	-115	-91	-106	-66	-8.02	-24	40	-3.52	-20	-64
Enterprise Value (EV)	3,655	3,333	4,852	4,968	4,778	4,560	4,671	4,734	4,715	5,235	5,604
Market Capitalization	3,494	3,163	4,461	4,653	4,493	4,212	4,352	4,419	4,505	4,988	5,415
Book Value per Share	($6.07)	($7.16)	($15.94)	($13.98)	($14.11)	($15.01)	($14.17)	($12.28)	($11.12)	($11.59)	($11.38)
Tangible Book Value per Share	($20.09)	($21.17)	($29.89)	($28.19)	($27.93)	($28.82)	($27.97)	($26.06)	($24.91)	($25.37)	($25.14)
Total Capital	105	78	49	47	-12	41	21	66	39	27	32
Total Debt	250	250	435	380	325	400	360	360	305	305	305
Total Long-Term Debt	220	220	405	350	295	370	330	330	275	275	275
Net Debt	159	169	390	314	285	348	319	315	210	247	189
Capital Expenditures (CapEx)	0.05	0.27	0.39	0.37	0.15	0.39	0.60	0.09	0.37	0.36	0.53
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-294	-353	-290	-284	-382	-375	-356	-291	-370	-367	-392
Debt-free Net Working Capital (DFNWC)	-203	-272	-245	-219	-341	-323	-315	-246	-275	-309	-276
Net Working Capital (NWC)	-233	-302	-275	-249	-371	-353	-345	-276	-305	-339	-306
Net Nonoperating Expense (NNE)	3.78	-6.60	2.41	-7.12	0.96	8.44	2.17	4.13	5.71	1.75	7.07
Net Nonoperating Obligations (NNO)	159	169	390	314	285	348	319	315	210	247	189
Total Depreciation and Amortization (D&A)	1.20	1.03	0.84	0.84	0.87	0.79	0.79	0.79	0.79	0.78	0.79
Debt-free, Cash-free Net Working Capital to Revenue	-35.80%	-42.72%	-32.58%	-30.40%	-43.02%	-41.41%	-40.48%	-31.36%	-36.02%	-35.37%	-36.67%
Debt-free Net Working Capital to Revenue	-24.72%	-32.92%	-27.51%	-23.36%	-38.46%	-35.63%	-35.79%	-26.53%	-26.78%	-29.78%	-25.82%
Net Working Capital to Revenue	-28.37%	-36.55%	-30.88%	-26.57%	-41.84%	-38.94%	-39.20%	-29.77%	-29.70%	-32.67%	-28.63%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.12	($0.73)	$0.85	$2.19	($0.41)	($0.79)	$0.59	$1.58	$1.07	($0.31)	$0.05
Adjusted Weighted Average Basic Shares Outstanding	24.25M	24.30M	24.13M	23.97M	24.09M	23.97M	24.02M	24.03M	24.01M	24.05M	24.10M
Adjusted Diluted Earnings per Share	$1.12	($0.73)	$0.84	$2.18	($0.40)	($0.79)	$0.59	$1.57	$1.07	($0.31)	$0.05
Adjusted Weighted Average Diluted Shares Outstanding	24.41M	24.30M	24.19M	24.06M	24.19M	23.97M	24.07M	24.10M	24.10M	24.05M	24.17M
Adjusted Basic & Diluted Earnings per Share	$1.12	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	24.23M	24.33M	23.88M	23.89M	23.89M	23.93M	23.95M	23.95M	23.95M	23.99M	24.01M
Normalized Net Operating Profit after Tax (NOPAT)	17	-25	36	45	-8.54	-10	16	42	31	-5.79	8.18
Normalized NOPAT Margin	9.47%	-104.32%	10.20%	11.68%	-6.73%	-24.11%	5.01%	9.77%	13.73%	-10.86%	2.29%
Pre Tax Income Margin	11.85%	-161.98%	13.12%	24.76%	-9.63%	-78.90%	7.65%	16.72%	18.80%	-27.37%	0.51%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	8.99	-10.89	8.54	14.43	-1.00	-3.97	4.29	11.32	7.57	-1.55	1.20
NOPAT to Interest Expense	11.81	-7.59	3.99	6.38	-1.32	-1.50	2.21	6.07	4.94	-0.96	1.46
EBIT Less CapEx to Interest Expense	8.97	-10.97	8.47	14.38	-1.02	-4.02	4.21	11.31	7.51	-1.61	1.10
NOPAT Less CapEx to Interest Expense	11.79	-7.67	3.92	6.33	-1.34	-1.55	2.13	6.06	4.88	-1.02	1.37
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	316.81%	208.91%	374.60%	378.22%	2.35%	3.28%	1.19%	0.86%	1.15%
Augmented Payout Ratio	0.00%	0.00%	316.81%	208.91%	374.60%	378.22%	2.35%	3.28%	1.19%	0.86%	1.15%

Frequently Asked Questions About Madison Square Garden Sports' Financials

When does Madison Square Garden Sports's financial year end?

According to the most recent income statement we have on file, Madison Square Garden Sports' fiscal year ends in June. Their fiscal year 2024 ended on June 30, 2024.

How has Madison Square Garden Sports' net income changed over the last 9 years?

Madison Square Garden Sports' net income appears to be on a downward trend, with a most recent value of $58.77 million in 2024, falling from -$40.68 million in 2015. The previous period was $45.63 million in 2023.

What is Madison Square Garden Sports's operating income?

Madison Square Garden Sports's total operating income in 2024 was $146.04 million, based on the following breakdown:

Total Gross Profit: $1.03 billion
Total Operating Expenses: $881.11 million

How has Madison Square Garden Sports revenue changed over the last 9 years?

Over the last 9 years, Madison Square Garden Sports' total revenue changed from $1.07 billion in 2015 to $1.03 billion in 2024, a change of -4.1%.

How much debt does Madison Square Garden Sports have?

Madison Square Garden Sports' total liabilities were at $1.61 billion at the end of 2024, a 2.4% decrease from 2023, and a 74.2% increase since 2015.

How much cash does Madison Square Garden Sports have?

In the past 9 years, Madison Square Garden Sports' cash and equivalents has ranged from $4.32 million in 2019 to $1.44 billion in 2016, and is currently $89.14 million as of their latest financial filing in 2024.

How has Madison Square Garden Sports' book value per share changed over the last 9 years?

Over the last 9 years, Madison Square Garden Sports' book value per share changed from 49.07 in 2015 to -11.12 in 2024, a change of -122.7%.

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This page (NYSE:MSGS) was last updated on 4/20/2025 by MarketBeat.com Staff

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Madison Square Garden Sports (MSGS) Financials

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Madison Square Garden Sports (MSGS) Financials

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