Motorsport Games Inc.
MSGM Communication Services Electronic Gaming & Multimedia
Motorsport Games Inc.’s revenue for fiscal 2025 (year ended December 2025) was $11.3 million, up 30.0% from fiscal 2024. In the quarter to June 2026, revenue grew 36.6%, EPS fell 90.2% and free cash flow grew 381.2%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years; insiders bought in the last twelve months.
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Motorsport Games Inc. (MSGM) Altman Z-score
Motorsport Games Inc.'s Altman Z-score for fiscal 2025 is −5.56, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | −5.56 | 14.43 |
| FY2024 | −20.00 | (2.52) |
| FY2023 | −17.48 | (6.01) |
| FY2022 | −11.47 | (10.66) |
| FY2021 | −0.81 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.35 | — | 0.42 | |
| Retained earnings / total assets | (7.09) | — | −9.93 | |
| EBIT / total assets | 0.27 | — | 0.90 | |
| Market value of equity / total liabilities | 3.50 | — | 2.10 | |
| Sales / total assets | 0.94 | — | 0.94 | |
| Altman Z-score | Distress zone | −5.56 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −17.16 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| MYPS PLAYSTUDIOS, Inc. compare | 8.5× |
| GMHS Gamehaus Holdings Inc. compare | 5.2× |
| GCL GCL Global Holdings Ltd. compare | 1.6× |
| SNAL Snail, Inc. compare | −0.7× |
| GAME GameSquare Holdings, Inc. compare | −2.8× |
| GIGM GigaMedia Limited compare | −3.3× |
| MSGM Motorsport Games Inc. | −5.6× |
| HODO House of Doge Inc. compare | — |
| CTW CTW Cayman compare | — |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets