Saturday 10 October 2026
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The Madison Square Garden Company
MSGS Communication Services Entertainment
The Madison Square Garden Company’s revenue for fiscal 2026 (year ended June 2026) was $1.2 billion, up 11.0% from fiscal 2025. In the quarter to June 2026, revenue grew 36.7%, EPS grew 1,771.4%, free cash flow grew 16.8% and total debt fell 11.2%, each against the same quarter a year earlier. Revenue growth for five consecutive years.
402.30
4.87
−1.20%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to June
| Group | Line | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Trend | 2027e | 2028e | 2029e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | 119.02 | 146.38 | 176.59 | 130.15 | 152.42 | 136.61 | 164.79 | 176.27 | 173.26 | 250.03 |
Analyst estimates 2027–2029 Powerpack |
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| High | 165.08 | 235.38 | 225.36 | 225.67 | 207.09 | 184.59 | 215.79 | 237.99 | 262.77 | 438.93 | |||||
| People | |||||||||||||||
| People | Employees | 13,000 | 11,700 | 13,000 | 880 | 657 | 892 | 962 | 983 | 1,007 | 1,017 | ||||
| Revenue/emp, $m | 0.10 | 0.06 | 0.06 | 0.69 | 0.63 | 0.92 | 0.92 | 1.04 | 1.03 | 1.13 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | 1,318 | 712 | 729 | 603 | 416 | 821 | 887 | 1,027 | 1,039 | 1,154 | ||||
| Gross margin, % | 34.74 | 41.18 | 39.67 | 40.34 | 32.19 | 39.06 | 38.16 | 39.98 | 27.34 | 27.74 | |||||
| EBT | (81) | (21) | (61) | (98) | (89) | 74 | 90 | 106 | (17) | 18 | |||||
| EBT margin, % | (6.16) | (2.99) | (8.31) | (16.25) | (21.49) | 9.00 | 10.13 | 10.29 | (1.66) | 1.56 | |||||
| Net income | (77) | 134 | (3) | (209) | (16) | 49 | 46 | 59 | (22) | 8 | |||||
| Depreciation | 116 | 122 | 119 | 196 | 6 | 5 | 4 | 3 | 3 | 3 | |||||
| Per share, $ | |||||||||||||||
| Per share, $ | Revenue | 55.27 | 30.14 | 30.69 | 25.20 | 17.23 | 33.88 | 36.84 | 42.78 | 43.14 | 47.77 | ||||
| Earnings | (3.05) | 5.99 | 0.48 | (7.62) | (0.58) | 2.11 | 1.90 | 2.45 | (0.93) | 0.32 | |||||
| Cash flow | 9.37 | 9.21 | 6.78 | 0.15 | (1.46) | 7.34 | 6.33 | 3.84 | 3.80 | 2.59 | |||||
| Capex | (1.85) | (8.12) | (7.95) | (15.14) | (0.02) | (0.04) | (0.05) | (0.06) | (0.15) | (0.06) | |||||
| Free cash flow | 7.52 | 1.09 | (1.16) | (14.99) | (1.48) | 7.31 | 6.28 | 3.78 | 3.65 | 2.54 | |||||
| Book value | 101.45 | 108.04 | 111.03 | (8.50) | (8.37) | (6.00) | (14.00) | (11.09) | (11.68) | (10.90) | |||||
| Shares, m | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | 0.00 | 38.14 | 424.55 | 0.00 | 0.00 | 71.90 | 97.94 | 78.85 | 0.00 | 1,296.26 | ||||
| P/S | 2.54 | 7.61 | 6.50 | 5.83 | 10.02 | 4.46 | 5.10 | 4.50 | 4.84 | 8.41 | |||||
| P/B | 1.38 | 2.12 | 1.80 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||
| EV/Sales | 1.66 | 5.99 | 6.54 | 6.33 | 10.77 | 4.65 | 5.43 | 4.70 | 4.98 | 8.49 | |||||
| EV/FCF | 12.18 | 165.96 | (172.99) | (10.64) | (125.08) | 21.57 | 31.82 | 53.26 | 58.77 | 159.98 | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | 224 | 218 | 161 | 4 | (35) | 178 | 152 | 92 | 92 | 63 | ||||
| Capex | (44) | (192) | (189) | (362) | 0 | (1) | (1) | (1) | (4) | (1) | |||||
| Free cash flow | 179 | 26 | (28) | (359) | (36) | 177 | 151 | 91 | 88 | 61 | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | 688 | 650 | 653 | (162) | (183) | (233) | (371) | (305) | (312) | (319) | ||||
| Total debt | 178 | 106 | 1,018 | 393 | 385 | 250 | 325 | 305 | 291 | 259 | |||||
| Net debt | (1,094) | (1,151) | 992 | 302 | 313 | 159 | 285 | 210 | 138 | 94 | |||||
| Shareholders’ equity | 2,420 | 2,554 | 2,639 | (203) | (202) | (145) | (337) | (266) | (281) | (263) | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | (2.00) | 3.80 | 0.30 | (7.30) | (1.10) | 3.92 | 3.50 | 4.42 | (1.59) | 0.51 | ||||
| ROIC | (2.65) | (0.81) | (1.00) | (59.49) | (44.13) | 395.44 | 0.00 | 0.00 | 0.00 | 0.00 | |||||
| ROE | (2.91) | 5.69 | 0.44 | (14.98) | 6.89 | (29.45) | (18.96) | (19.48) | 8.20 | (2.84) | |||||
Negative figures in brackets.
Fiscal years to Jun 2026 · latest quarter Jun 2026
Charts ten years each
The Madison Square Garden Company vs peers in Entertainment (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| NWS News Corporation | $16.2B | 31.1× | — | +10.81% (above 0%: growing) | −74.81% (below 0%: shrinking) | +759.38% (above 0%: growing) | 57.60% | 12.62% | Compare |
| NWSA News Corporation | $16.2B | 28.3× | 21.9× | +10.81% (above 0%: growing) | −74.81% (below 0%: shrinking) | +759.38% (above 0%: growing) | 57.60% | 12.62% | Compare |
| WMG Warner Music Group Corp. | $15.1B | 22.5× | 21.1× | +10.36% (above 0%: growing) | n/m | +1,528.57% (above 0%: growing) | 45.82% | 16.36% | Compare |
| SKYD Paramount Skydance Corporation | $10.4B | — (loss-making) | 9.3× | +0.93% (above 0%: growing) | −50.00% (below 0%: shrinking) | +126.32% (above 0%: growing) | 35.73% | 6.87% | Compare |
| MSGS The Madison Square Garden Company | $9.8B | 1,298× | — (loss-making) | +36.67% (above 0%: growing) | n/m | +16.75% (above 0%: growing) | 42.77% | 11.53% | |
| LLYVA Liberty Live Holdings, Inc. | $9.1B | — (loss-making) | — | — | n/m | — | — | — | Compare |
| LLYVK Liberty Live Holdings, Inc. | $9.0B | — (loss-making) | — | — | n/m | — | — | — | Compare |
| SIRI Sirius XM Holdings Inc. | $8.9B | 10.2× | 8.7× | +1.03% (above 0%: growing) | +16.39% (above 0%: growing) | +47.63% (above 0%: growing) | 52.41% | 21.85% | Compare |
| VSNT Versant Media Group, Inc. | $4.4B | 3.8× | 9.8× | — | — | −23.41% (below 0%: shrinking) | 60.46% | 22.32% | Compare |
| Median of peers | $9.7B | 22.5× | 9.8× | +10.36% | −62.40% | +442.85% | 55.00% | 14.49% |
The Madison Square Garden Company (MSGS) key facts
- Strength: The Madison Square Garden Company’s revenue for fiscal 2026 (year ended June 2026) was $1.2 billion, up 11.0% from fiscal 2025.
- The Madison Square Garden Company (MSGS) is an Entertainment company in the Communication Services sector, listed on the New York Stock Exchange.
- As of October 9, 2026, MSGS traded at $402.30, a market capitalization of $9.8 billion.
- Return on equity was −2.84% and debt-to-equity -0.98.
- Its Piotroski F-score is 8 out of 9 and its Altman Z-score is 3.68 (safe zone) for fiscal 2026.