MSGEMadison Square Garden Entertainment Corp.
Services-Miscellaneous Amusement & Recreation
- Revenue
- $1.1B
- 13% YoY
- Operating margin
- 13.3%
- 3.0% YoY
- EBITDA
- $198M
- 9.9% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- 1.2×
- $247M net debt
- AI in 10-K
- —
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear531% of net incomeCash flow under 80% of net income
- Dilutive SBCClear3% of revenueOver 10% of revenue
- Payouts exceed cash flowClear7% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear4% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $582M | $780M | $959M | $943M | $1.1B | 13% |
| Operating income | −$6M | $105M | $112M | $122M | $142M | 16% |
| Net income | −$133M | $76M | $144M | $37M | $66M | 77% |
| Operating cash flow | $95M | $136M | $111M | $115M | $351M | 205% |
| Stock-based comp | $39M | $32M | $31M | $28M | $32M | 17% |
| Buybacks | $0 | $25M | $51M | $40M | $25M | 37% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $1M · 1
- Net
- −$1M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2026 | $15M | $38M | 261 | 98 |
| FY2025 | $14M | $16M | 129 | 116 |
| FY2024 | $10M | $11M | 110 | 102 |
| FY2023 | $9M | $11M | 108 | 101 |