“Interest expense Interest expense for the three months ended September 30, 2025 decreased $464, or 8%, to $5,591 as compared to the prior year period primarily due to lower average interest rates and lower average borrowings under the Knicks Revolving Credit…”10-Q · Oct 31, 2025 ↗
Madison Square Garden Sports Corp.
MSGS
Market read
Madison Square Garden Sports Corp.'s current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 3 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 8 directly disclosed connections are confirming.
- Fiscal 2025 revenue reflected a modified transaction price in local telecast rights agreements, affecting comparability with the prior year.
- Track reported net cash used in investing activities and its drivers (lower capital expenditures and distribution from an equity investee).
Invalidation: The isolated read changes if MSGS's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 3 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 8 directly disclosed connections are confirming.
No thresholded supportive filing evidence is available yet.
No thresholded adverse filing evidence is available yet.
- Fiscal 2025 revenue reflected a modified transaction price in local telecast rights agreements, affecting comparability with the prior year.
- Track reported net cash used in investing activities and its drivers (lower capital expenditures and distribution from an equity investee).
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
- Latest annual revenue changed +11.0% year over year.
- Operating margin changed +1.1 percentage points in the latest annual period.
- Net margin changed +2.8 percentage points in the latest annual period.
- Operating cash flow covered net income at 8.08x in the latest annual period.
No qualifying adverse evidence was identified; that is not proof there is no downside.
- P/E is 890% above the available filing-peer median; determine whether growth and quality justify the difference.
- EV/sales is 74% above the available filing-peer median; determine whether growth and quality justify the difference.
Price as of Sep 10, 2026
392.12Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“During fiscal year 2025, the Company recorded impairment charges and reductions in carrying value resulting from observable price changes of $ 894 related to its equity securities without readily determinable fair values in Miscellaneous income (expense), net…”10-K · Aug 13, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 8.2× · EV/sales 8.3×. Comparisons use only industry-matched filing peers.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 14:05 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for MSGS. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for MSGS. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind MSGS
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
BUDAnheuser-Busch InBev SA/NVpartnerAug 12, 2025 ▾
“This integrated approach to marketing partnerships — which delivers unrivaled sports, entertainment and media exposure in the New York market — has already attracted world-class partners such as JPMorgan Chase, Anheuser-Busch, Experience Abu Dhabi, Caesars Sp…”
CZRCaesars Entertainment, Inc.partnerAug 12, 2025 ▾
“This integrated approach to marketing partnerships — which delivers unrivaled sports, entertainment and media exposure in the New York market — has already attracted world-class partners such as JPMorgan Chase, Anheuser-Busch, Experience Abu Dhabi, Caesars Sp…”
DALDelta Air Lines, Inc.partnerAug 12, 2025 ▾
“This integrated approach to marketing partnerships — which delivers unrivaled sports, entertainment and media exposure in the New York market — has already attracted world-class partners such as JPMorgan Chase, Anheuser-Busch, Experience Abu Dhabi, Caesars Sp…”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 5 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
MSGS is currently a Early Follower in the organic co-movement group Madison Square Garden Spin-offs. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.