AMC Entertainment Holdings, Inc. (AMC) vs Madison Square Garden Entertainment Corp. (MSGE)

AMC Entertainment Holdings, Inc. and Madison Square Garden Entertainment Corp. are both Entertainment companies. Madison Square Garden Entertainment Corp. is the larger, with a market value of $3.8B against $2.6B — 1.4× the size. AMC Entertainment Holdings, Inc. has negative trailing earnings, so its P/E is not meaningful; Madison Square Garden Entertainment Corp. trades at 56.5×. Madison Square Garden Entertainment Corp. grew revenue faster over the last twelve months: 12.5% against 6.41%. Madison Square Garden Entertainment Corp. has the higher net margin (6.24% vs −10.6%) and the higher return on invested capital (27.4% vs 8.78%). Across the 18 metrics below, Madison Square Garden Entertainment Corp. leads on 13 and AMC Entertainment Holdings, Inc. on 5.

Valuation

Metric AMC MSGE Entertainment median
P/E n/m 56.49 22.03
P/S 0.41 3.54 1.47
P/B n/m 81.99 2.00
Price to free cash flow n/m 11.62 16.60
EV/EBITDA 9.15 20.19 9.65
EV/Sales 0.99 3.80 1.76
Earnings yield (36.25%) 1.77% (0.67%)
Free cash flow yield (0.85%) 8.61% 3.26%

Profitability

Metric AMC MSGE Entertainment median
Gross margin 67.08% 45.11% 45.02%
Operating margin 4.36% 13.34% 2.30%
Net margin (10.59%) 6.24% 0.00%
Free cash flow margin (0.35%) 30.46% 1.56%
Return on equity 34.87% 407.54% 0.00%
Return on assets (6.83%) 3.67% 0.00%
Return on invested capital 8.78% 27.44% 0.00%

Growth

Metric AMC MSGE Entertainment median
Revenue growth (TTM) 6.41% 12.52% 5.07%
EPS growth (last fiscal year) (26.42%) 79.22% —
Revenue growth, 5-year CAGR 31.30% 66.94% 10.25%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric AMC MSGE Entertainment median
Debt to equity (2.68) 12.47 0.46
Current ratio 0.55 0.70 0.86
Net debt to EBITDA 11.21 1.39 0.72

Dividend

Metric AMC MSGE Entertainment median
Dividend yield — — 1.16%
Payout ratio 0.00 — 0.00

Size

Metric AMC MSGE Entertainment median
Market cap 2.59b 3.75b 1.87b

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