Feed / MSGS

Madison Square Garden Sports Corp.

MSGS

Communication Services · 388.54 -1.7% today

Isolated · not yet confirmedMarket checked 11 Sept, 14:05 GMT-4

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.

Company-1.7% todayVolume comparison unavailable
Market group0 of 3 activeMadison Square Garden Spin-offs · unavailable
Disclosed network0 of 8 confirmingNo filing-linked name is confirming now
What would change this read
  • 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.

Watch this read

Research brief

The story so far

Communication Services · Entertainment

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.

Evidence that supports

No thresholded supportive filing evidence is available yet.

Evidence that challenges

No thresholded adverse filing evidence is available yet.

What would clarify the read
  • 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

As of Sep 11, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods9
Price observations327
Usable filing statements84
Verified relationships12
Evidence supporting the case
  • 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.
Evidence challenging the case

No qualifying adverse evidence was identified; that is not proof there is no downside.

Questions before a position
  • 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.
Longer-term price context

Price as of Sep 10, 2026

392.12
6m+23.9%12m+90.0%24m
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2022-06-30$821.4M+97.6%$2.10+1.1%
2023-06-30$887.4M+8.0%$1.89-0.9%
2024-06-30$1.0B+15.7%$2.44-0.4%
2025-06-30$1.0B+1.2%$-0.93-0.0%
2026-06-30$1.2B+11.0%$0.32+0.7%

What management says matters

Persistent and emerging business drivers

Credit and interest ratesnegative · 2 filings
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
Restructuring and cost reductionsmixed · 2 filings
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.

Scenario scaffold

Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.

Price action

How the market is pricing the story

388.54-1.7% today

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.