Madison Square Garden Entertainment (MSGE)
Market Price (9/8/2026): $77.32 | Market Cap: $3.7 BilSector: Communication Services | Industry: Movies & Entertainment
Madison Square Garden Entertainment (MSGE)
Market Price (9/8/2026): $77.32Market Cap: $3.7 BilSector: Communication ServicesIndustry: Movies & Entertainment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 33%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 30% Attractive yieldFCF Yield is 8.8% Low stock price volatilityVol 12M is 31% Megatrend and thematic driversMegatrends include Experience Economy & Premiumization. Themes include Travel & Leisure Tech, and Live Event Production & Management. | Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.6% Key risksMSGE key risks include [1] its substantial debt load and inconsistent financial performance, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 33%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 30% |
| Attractive yieldFCF Yield is 8.8% |
| Low stock price volatilityVol 12M is 31% |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization. Themes include Travel & Leisure Tech, and Live Event Production & Management. |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.6% |
| Key risksMSGE key risks include [1] its substantial debt load and inconsistent financial performance, Show more. |
Qualitative Assessment
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Madison Square Garden Entertainment (MSGE) stock has gained about 10% since 5/31/2026 because of the following key factors:
1. Madison Square Garden Entertainment (MSGE) reported a significant earnings beat for fiscal Q4 2026, which ended on June 30, 2026. The company's actual loss per share was $0.21, outperforming the consensus estimate of a $0.44 loss by $0.23. Additionally, revenue reached $196.32 million, surpassing analyst expectations of $166.62 million and representing a 27.37% year-over-year increase.
2. The company demonstrated robust full-year fiscal 2026 performance and strong operational improvements in fiscal Q4 2026. For the full fiscal year 2026, revenues exceeded $1.0 billion, a 13% increase year-over-year, with adjusted operating income growing by 18% to $262 million. Fiscal Q4 2026 adjusted operating income improved to $18.6 million, a $19.9 million increase from an adjusted operating loss of $1.3 million in the prior-year quarter. This growth was driven by strong demand for live entertainment, record-setting performance from the Christmas Spectacular, increased concert activity at Madison Square Garden, and the positive impact from the New York Knicks' championship run.
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Madison Square Garden Entertainment (MSGE) stock has gained about 10% since 5/31/2026 because of the following key factors:
1. Madison Square Garden Entertainment (MSGE) reported a significant earnings beat for fiscal Q4 2026, which ended on June 30, 2026. The company's actual loss per share was $0.21, outperforming the consensus estimate of a $0.44 loss by $0.23. Additionally, revenue reached $196.32 million, surpassing analyst expectations of $166.62 million and representing a 27.37% year-over-year increase.
2. The company demonstrated robust full-year fiscal 2026 performance and strong operational improvements in fiscal Q4 2026. For the full fiscal year 2026, revenues exceeded $1.0 billion, a 13% increase year-over-year, with adjusted operating income growing by 18% to $262 million. Fiscal Q4 2026 adjusted operating income improved to $18.6 million, a $19.9 million increase from an adjusted operating loss of $1.3 million in the prior-year quarter. This growth was driven by strong demand for live entertainment, record-setting performance from the Christmas Spectacular, increased concert activity at Madison Square Garden, and the positive impact from the New York Knicks' championship run.
3. A positive outlook for fiscal 2027, coupled with strategic partnerships, further boosted investor confidence. Management guided for continued revenue and adjusted operating income growth in fiscal 2027. This optimistic forecast, combined with a renewed and expanded multi-year marketing partnership with Lexus announced on June 30, 2026, likely contributed to the positive stock movement.
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Stock Movement Drivers
Fundamental Drivers
The 9.8% change in MSGE stock from 5/31/2026 to 9/7/2026 was primarily driven by a 29.7% change in the company's Net Income Margin (%).| (LTM values as of) | 5312026 | 9072026 | Change |
|---|---|---|---|
| Stock Price ($) | 70.53 | 77.41 | 9.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,019 | 1,061 | 4.1% |
| Net Income Margin (%) | 4.8% | 6.2% | 29.7% |
| P/E Multiple | 68.3 | 55.5 | -18.7% |
| Shares Outstanding (Mil) | 47 | 47 | 0.0% |
| Cumulative Contribution | 9.8% |
Market Drivers
5/31/2026 to 9/7/2026| Return | Correlation | |
|---|---|---|
| MSGE | 9.8% | |
| Market (SPY) | 1.8% | 12.2% |
| Sector (XLC) | -3.2% | -9.5% |
Fundamental Drivers
The 22.6% change in MSGE stock from 2/28/2026 to 9/7/2026 was primarily driven by a 22.0% change in the company's Net Income Margin (%).| (LTM values as of) | 2282026 | 9072026 | Change |
|---|---|---|---|
| Stock Price ($) | 63.14 | 77.41 | 22.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,015 | 1,061 | 4.5% |
| Net Income Margin (%) | 5.1% | 6.2% | 22.0% |
| P/E Multiple | 57.7 | 55.5 | -3.7% |
| Shares Outstanding (Mil) | 47 | 47 | -0.1% |
| Cumulative Contribution | 22.6% |
Market Drivers
2/28/2026 to 9/7/2026| Return | Correlation | |
|---|---|---|
| MSGE | 22.6% | |
| Market (SPY) | 12.6% | 30.5% |
| Sector (XLC) | -4.8% | 11.2% |
Fundamental Drivers
The 90.1% change in MSGE stock from 8/31/2025 to 9/7/2026 was primarily driven by a 57.1% change in the company's Net Income Margin (%).| (LTM values as of) | 8312025 | 9072026 | Change |
|---|---|---|---|
| Stock Price ($) | 40.71 | 77.41 | 90.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 943 | 1,061 | 12.5% |
| Net Income Margin (%) | 4.0% | 6.2% | 57.1% |
| P/E Multiple | 51.8 | 55.5 | 7.3% |
| Shares Outstanding (Mil) | 48 | 47 | 0.3% |
| Cumulative Contribution | 90.1% |
Market Drivers
8/31/2025 to 9/7/2026| Return | Correlation | |
|---|---|---|
| MSGE | 90.1% | |
| Market (SPY) | 20.4% | 28.9% |
| Sector (XLC) | 1.6% | 17.8% |
Fundamental Drivers
The 141.2% change in MSGE stock from 8/31/2023 to 9/7/2026 was primarily driven by a 159.7% change in the company's P/E Multiple.| (LTM values as of) | 8312023 | 9072026 | Change |
|---|---|---|---|
| Stock Price ($) | 32.09 | 77.41 | 141.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 851 | 1,061 | 24.6% |
| Net Income Margin (%) | 9.0% | 6.2% | -30.6% |
| P/E Multiple | 21.4 | 55.5 | 159.7% |
| Shares Outstanding (Mil) | 51 | 47 | 7.5% |
| Cumulative Contribution | 141.2% |
Market Drivers
8/31/2023 to 9/7/2026| Return | Correlation | |
|---|---|---|
| MSGE | 141.2% | |
| Market (SPY) | 77.1% | 43.1% |
| Sector (XLC) | 70.6% | 34.6% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| MSGE Return | -33% | 0% | -55% | 12% | 51% | 44% | -26% |
| Peers Return | 13% | -44% | 48% | 34% | 14% | 11% | 60% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 106% |
Monthly Win Rates [3] | |||||||
| MSGE Win Rate | 25% | 0% | 33% | 50% | 58% | 78% | |
| Peers Win Rate | 48% | 25% | 47% | 65% | 53% | 56% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 56% | |
Max Drawdowns [4] | |||||||
| MSGE Max Drawdown | -48% | 0% | -60% | -24% | -25% | -13% | |
| Peers Max Drawdown | -27% | -50% | -28% | -24% | -31% | -23% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: NFLX, DIS, LYV, ROKU, FWONA.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/4/2026 (YTD)
How Low Can It Go
| Event | MSGE | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -23.4% | -18.8% |
| % Gain to Breakeven | 30.5% | 23.1% |
| Time to Breakeven | 36 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -16.5% | -9.5% |
| % Gain to Breakeven | 19.7% | 10.5% |
| Time to Breakeven | 77 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -10.3% | -6.7% |
| % Gain to Breakeven | 11.5% | 7.1% |
| Time to Breakeven | 6 days | 31 days |
In The Past
Madison Square Garden Entertainment's stock fell -23.4% during the 2025 US Tariff Shock. Such a loss loss requires a 30.5% gain to breakeven.
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| Event | MSGE | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -23.4% | -18.8% |
| % Gain to Breakeven | 30.5% | 23.1% |
| Time to Breakeven | 36 days | 79 days |
In The Past
Madison Square Garden Entertainment's stock fell -23.4% during the 2025 US Tariff Shock. Such a loss loss requires a 30.5% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Madison Square Garden Entertainment (MSGE)
Madison Square Garden Entertainment Corp. (MSGE) is a live entertainment company primarily focused on managing and operating a portfolio of performance venues, alongside a significant entertainment and sports bookings business. Based in New York, the company plays a central role in hosting a diverse range of live events, solidifying its position within the entertainment industry.
The company's main products and services include providing iconic venues for concerts, sporting events, family shows, and theatrical productions. MSGE's bookings division actively secures and schedules top-tier entertainment and athletic events to be held at its facilities. A key proprietary offering is "The Christmas Spectacular Starring the Radio City Rockettes," an internationally recognized annual holiday production.
MSGE primarily serves a broad customer base, including the general public who attend live events such as music concerts, professional sports games, and family-oriented shows. Its direct clients also encompass event promoters, artists, sports leagues, and other organizations that utilize its venues and booking expertise to stage their events. The company operates within the competitive live entertainment and venue management market, catering to various demographics seeking engaging experiences.
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Think of it as a more venue-centric Live Nation, owning and operating iconic performance spaces like Madison Square Garden and Radio City Music Hall in New York City, while also promoting live events and producing its own major annual show, the Christmas Spectacular Starring the Radio City Rockettes.
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- Performance Venues: Operates and manages a collection of live entertainment and sports venues.
- Entertainment and Sports Bookings: Provides services for booking and promoting various entertainment and sports events.
- Christmas Spectacular Starring the Radio City Rockettes: Produces and stages this annual holiday stage production.
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Madison Square Garden Entertainment (MSGE) sells primarily to other companies that book its venues for events. While individuals are the end consumers who purchase tickets to attend these events, MSGE's direct major customers are often the promoters, sports organizations, and other entities that lease its performance venues and utilize its event booking services.
Here are some of MSGE's major customer companies:
- Live Nation Entertainment (LYV): As the world's largest live entertainment company, Live Nation frequently books concerts and events at MSGE's venues, including Madison Square Garden and Radio City Music Hall.
- AEG Presents (private company): A major global promoter of concerts and events, AEG Presents is a significant client for venue bookings.
- TKO Group Holdings (TKO): As the parent company of World Wrestling Entertainment (WWE), TKO frequently books MSGE's venues, particularly Madison Square Garden, for wrestling events.
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James L. Dolan, Executive Chairman and Chief Executive Officer
James L. Dolan serves as the Executive Chairman and Chief Executive Officer of Madison Square Garden Entertainment Corp. He also holds the same titles at Madison Square Garden Sports Corp. and Sphere Entertainment Co., and is Chairman of AMC Networks Inc.. Dolan is the son of Charles Dolan, who founded Cablevision. He served as CEO of Cablevision Systems Corporation from 1995 until its acquisition by Altice in June 2016 for $17.7 billion. Prior to that, he was CEO of Rainbow Media Holdings, which is now known as AMC Networks. His career with Cablevision began in the 1970s. Dolan has overseen significant projects, including the renovation of Madison Square Garden, the restoration of Radio City Music Hall and Beacon Theatre, and the development of Sphere. He also previously owned the New York Liberty before selling the franchise in 2019.
David Collins, Executive Vice President and Chief Financial Officer
David Collins is the Executive Vice President and Chief Financial Officer, a role he assumed effective April 14, 2025. He brings over 30 years of financial expertise, particularly in the live entertainment and sports industries. Before joining Madison Square Garden Entertainment Corp., Collins was the CFO and Executive Vice President at Harris Blitzer Sports and Entertainment. His experience includes managing finance, accounting, strategy, IT, and ticket operations for major sports teams and venues like the Philadelphia 76ers and the New Jersey Devils. Collins has also held senior financial positions at companies such as Experis Finance, Base Entertainment (a private entertainment and venue services company), Sterling Chemicals, Inc., and Petrosearch Energy Corporation. He started his career as a senior auditor and Certified Public Accountant at Ernst & Young.
Stephanie Andino, Executive Vice President, People Practices
Stephanie Andino serves as the Executive Vice President, People Practices for Madison Square Garden Entertainment Corp.
James J. Claffey Jr., Executive Vice President, Venue Management
James J. Claffey Jr. holds the position of Executive Vice President, Venue Management at Madison Square Garden Entertainment Corp.
Joel Fisher, Executive Vice President, Marquee Events and Operations
Joel Fisher is the Executive Vice President, Marquee Events and Operations for Madison Square Garden Entertainment Corp.
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- Substantial Indebtedness and High Leverage: Madison Square Garden Entertainment has a significant amount of debt, which could negatively impact its business. The company's high leverage limits its financial flexibility to plan for or react to changes in its business, the entertainment and hospitality industries, and the broader economy. Furthermore, increases in interest rates could lead to higher debt service obligations, further affecting the company's financial position.
- Uncertainty Regarding Penn Station Redevelopment: The ongoing uncertainty surrounding the redevelopment of Penn Station poses a material risk to MSGE. Potential disruptions to operations, including the possibility of the MSG Theater being demolished, could adversely affect the company's revenue mix and impact demand due to a multi-year period of construction-related interference.
- Dependence on Event Popularity and Venue Performance: The company's revenues are highly dependent on the popularity and success of its live events, such as the Christmas Spectacular, and the overall performance of its various venues. There is also a risk of competition from other venues and entertainment options impacting demand for MSGE's events and services. Challenges such as a lagging performance in its Theaters segment could also hinder margin expansion if these assets are underutilized.
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Madison Square Garden Entertainment (MSGE) operates within several addressable markets related to live entertainment and sports. The addressable markets for its main products and services, including performance venues, entertainment and sports bookings, and the Christmas Spectacular Starring the Radio City Rockettes production, are substantial.
Performance Venues and Entertainment Bookings
- The U.S. Live Events Market is projected to expand from USD 466.13 billion in 2025 to USD 651.53 billion by 2032, with the entertainment segment accounting for more than one-third of this market.
- The U.S. Performing Art Companies Market was valued at USD 47.04 billion in 2024 and is expected to reach USD 72.38 billion by 2032.
- Globally, the Live Entertainment Market is projected to reach USD 202.90 billion in 2025 and expand to USD 270.29 billion by 2030. North America accounted for over 35% of the global live entertainment market revenue in 2023.
- The Concert & Event Promotion in the US market size was an estimated USD 59.7 billion in 2025 and USD 60.2 billion in 2026.
Sports Bookings Business
- The United States Sports Events Market was worth USD 104.81 billion in 2024 and is forecasted to achieve USD 200.09 billion by 2033.
- The global sports events market size was estimated at USD 485.14 billion in 2025 and is projected to reach USD 884.69 billion by 2033. North America dominated this global industry with over 37% revenue share in 2025.
- The U.S. sports events tickets market is expected to reach a projected revenue of US$ 21,340.1 million by 2030.
Christmas Spectacular Starring the Radio City Rockettes Production
While a specific addressable market size for this single production is not readily available as a standalone market, its significant reach and revenue generation can be contextualized:
- The 2025 season of the Christmas Spectacular Starring the Radio City Rockettes saw its highest attendance in 25 years, with over 1.2 million tickets sold across 216 performances.
- The show attracts guests from all 50 U.S. states and 125 countries.
- Since its debut in 1933, over 72 million people have experienced this iconic New York City tradition.
- Ticket prices for the production range from approximately $55-$63 up to $780.
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Madison Square Garden Entertainment Corp. (MSGE) is expected to drive future revenue growth over the next two to three years through several key initiatives and ongoing strengths in its live entertainment business.
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Increased Volume and Profitability of Live Entertainment Events: The company anticipates continued growth in the number of concerts and other special events hosted across its portfolio of venues. This includes maximizing venue utilization and enhancing per-event profitability. For example, the first quarter of fiscal 2026 saw a record number of concerts at Madison Square Garden Arena.
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Sustained Success and Expansion of the Christmas Spectacular Starring the Radio City Rockettes: The iconic Christmas Spectacular production continues to be a significant revenue engine. Management is focused on expanding this high-margin asset, demonstrated by the fiscal 2026 holiday season's plan for 215 performances, up from 200 in fiscal 2025, which led to a record 1.2 million tickets sold, the highest attendance in 25 years.
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Growth in Ancillary Revenue Streams (Food, Beverage, and Merchandise): MSGE is strategically focused on expanding non-ticket revenue, such as food, beverage, and merchandise sales. This category contributed 16% to total revenue in fiscal 2025, and increases are linked to higher attendance at concerts and other live events.
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Stable and Escalating Arena License Fees: The long-term arena license agreements with the New York Knicks and New York Rangers are a consistent revenue source. These 35-year deals, which commenced in fiscal 2021, include annual 3% escalators and opportunities for additional revenue and profit sharing.
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Increased Sponsorship, Signage, and Premium Suite License Fees: The company expects growth from venue-related sponsorships, signage, and suite license fees. This includes strong sales and renewals for premium hospitality suites, such as the recently renovated Lexus level suites, and a positive trajectory for marketing partnerships.
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Share Repurchases
- Madison Square Garden Entertainment Corp. authorized a share repurchase program in March 2023 for up to $250 million of its Class A common stock.
- Since its spin-off in April 2023, the company repurchased approximately 6.1 million shares of Class A common stock for an aggregate of about $205 million by September 11, 2025.
- As of March 31, 2025, approximately $70 million remained under the existing share repurchase authorization.
Share Issuance
- In September 2023, Sphere Entertainment Group, LLC, the selling stockholder, conducted a secondary offering of 7,150,000 shares of MSG Entertainment's Class A common stock; MSG Entertainment itself was not selling any shares and did not receive any proceeds from this offering.
Capital Expenditures
- For fiscal year 2025, Madison Square Garden Entertainment Corp. reported capital expenditures of $22 million.
- No large new capital expenditure initiatives were highlighted in fiscal year 2025, with the company focusing on investing in its core business.
Peer Outperformance in Movies & Entertainment
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| MSGE | Madison Square Garden Entertainment | 7.8% | 55.5x | 89.5% | 140.4% | -4.0% | — |
| IMAX | Imax | 5.9% | 69.3x | 73.4% | 177.0% | 234.7% | +239pp |
| MSGS | Madison Square Garden Sports | 9.3% | 1,218.4x | 99.6% | 132.9% | 127.9% | +132pp |
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Wireless Telecommunication Services | 3 | -5.5% | 38.7% | 42.8% | ECHO 245% · TMUS 43% · SHEN -57% |
| Publishing | 5 | 22.7% | -4.7% | 20.2% | NWSA 44% · NYT 39% · SCHL 20% |
| Integrated Telecommunication Services | 21 | -9.1% | 14.2% | -9.1% | IQST 1369% · AD 164% · TDS 119% |
| Movies & Entertainment ← | 23 | 4.0% | 73.6% | -17.3% | IMAX 235% · MSGS 128% · BATRA 122% |
| Alternative Carriers | 4 | 50.2% | 23.8% | -38.0% | IRDM 7% · UNIT -37% · LUMN -39% |
| Advertising | 18 | -11.4% | -14.9% | -58.0% | APP 371% · EVC 51% · OMC 36% |
| Broadcasting | 14 | -2.5% | -11.6% | -68.2% | FOXA 94% · NXST 44% · WBD 5% |
| Interactive Media & Services | 30 | -22.7% | -35.5% | -71.7% | GOOGL 138% · META 65% · EVER 18% |
| Interactive Home Entertainment | 8 | -46.2% | -55.2% | -88.6% | TTWO 35% · RBLX -48% · PINS -63% |
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Peer Comparisons
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Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 96.84 |
| Mkt Cap | 31.7 |
| Rev LTM | 15,741 |
| Op Inc LTM | 650 |
| FCF LTM | 1,088 |
| FCF 3Y Avg | 1,265 |
| CFO LTM | 1,770 |
| CFO 3Y Avg | 1,788 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 12.4% |
| Rev Chg 3Y Avg | 13.0% |
| Rev Chg Q | 11.4% |
| QoQ Delta Rev Chg LTM | 2.9% |
| Op Inc Chg LTM | 17.8% |
| Op Inc Chg 3Y Avg | 32.6% |
| Op Mgn LTM | 13.7% |
| Op Mgn 3Y Avg | 12.6% |
| QoQ Delta Op Mgn LTM | 0.5% |
| CFO/Rev LTM | 19.3% |
| CFO/Rev 3Y Avg | 18.2% |
| FCF/Rev LTM | 16.1% |
| FCF/Rev 3Y Avg | 13.4% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Ticketing and venue license fee revenues | 453 | 463 | 396 | 274 |
| Sponsorship and signage, suite license, and advertising commission revenues | 253 | 254 | 243 | 209 |
| Food, beverage, and merchandise revenues | 151 | 162 | 136 | 99 |
| Arena license fees and other leasing revenue | 80 | 73 | 72 | 71 |
| Other | 6 | 7 | 4 | 1 |
| Total | 943 | 959 | 851 | 653 |
Price Behavior
| Market Price | $77.41 | |
| Market Cap ($ Bil) | 3.7 | |
| First Trading Date | 04/20/2020 | |
| Distance from 52W High | -12.5% | |
| 50 Days | 200 Days | |
| DMA Price | $77.45 | $65.04 |
| DMA Trend | up | up |
| Distance from DMA | -0.0% | 19.0% |
| 3M | 1YR | |
| Volatility | 35.1% | 31.0% |
| Downside Capture | 21.81 | 43.42 |
| Upside Capture | 49.64 | 108.50 |
| Correlation (SPY) | 15.7% | 29.3% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.68 | 0.49 | 0.29 | 0.67 | 0.70 | 0.89 |
| Up Beta | -1.16 | -0.11 | 0.18 | 0.66 | 0.60 | 1.04 |
| Down Beta | 5.95 | 1.81 | 0.29 | 0.65 | 0.65 | 0.97 |
| Up Capture | 89% | 22% | 51% | 77% | 112% | 63% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 9 | 16 | 31 | 63 | 136 | 400 |
| Down Capture | 138% | 54% | 10% | 54% | 49% | 86% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 12 | 26 | 33 | 64 | 115 | 346 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MSGE | |
|---|---|---|---|---|
| MSGE | 91.8% | 31.1% | 2.11 | - |
| Sector ETF (XLC) | -0.8% | 15.3% | -0.26 | 18.0% |
| Equity (SPY) | 19.7% | 12.8% | 1.13 | 29.0% |
| Gold (GLD) | 24.6% | 29.2% | 0.75 | 15.3% |
| Commodities (DBC) | 43.8% | 20.3% | 1.67 | -7.7% |
| Real Estate (VNQ) | 9.1% | 13.6% | 0.39 | 29.3% |
| Bitcoin (BTCUSD) | -28.1% | 43.8% | -0.63 | 14.6% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MSGE | |
|---|---|---|---|---|
| MSGE | 17.9% | 36.0% | 0.71 | - |
| Sector ETF (XLC) | 6.8% | 20.9% | 0.24 | 28.2% |
| Equity (SPY) | 12.8% | 17.2% | 0.57 | 36.6% |
| Gold (GLD) | 19.1% | 18.8% | 0.82 | 7.1% |
| Commodities (DBC) | 10.7% | 19.5% | 0.43 | 6.2% |
| Real Estate (VNQ) | 1.7% | 18.9% | -0.01 | 30.8% |
| Bitcoin (BTCUSD) | 10.2% | 52.6% | 0.38 | 13.2% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MSGE | |
|---|---|---|---|---|
| MSGE | 10.7% | 39.6% | 0.64 | - |
| Sector ETF (XLC) | 9.2% | 22.1% | 0.46 | 25.6% |
| Equity (SPY) | 15.3% | 17.9% | 0.72 | 33.6% |
| Gold (GLD) | 12.4% | 16.3% | 0.62 | 4.1% |
| Commodities (DBC) | 7.9% | 18.1% | 0.35 | 9.8% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.19 | 28.7% |
| Bitcoin (BTCUSD) | 63.7% | 66.2% | 1.03 | 10.5% |
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Returns Analyses
Earnings Returns History
Updated 8/21/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/12/2026 | 11.4% | 3.2% | |
| 5/7/2026 | -0.3% | -1.1% | 7.7% |
| 2/3/2026 | -2.6% | -2.0% | -3.8% |
| 11/6/2025 | -0.6% | 9.0% | 17.4% |
| 8/13/2025 | -8.5% | -6.6% | 7.7% |
| 5/6/2025 | 4.8% | 10.1% | 9.7% |
| 2/6/2025 | -0.3% | 7.3% | -11.2% |
| 11/8/2024 | -9.1% | -16.9% | -14.3% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 6 | 8 | 8 |
| # Negative | 8 | 6 | 5 |
| Median Positive | 5.9% | 6.8% | 8.4% |
| Median Negative | -3.9% | -6.5% | -11.2% |
| Max Positive | 12.8% | 13.5% | 23.0% |
| Max Negative | -9.1% | -16.9% | -14.3% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/12/2026 | 11.4% | 3.2% | |
| 5/7/2026 | -0.3% | -1.1% | 7.7% |
| 2/3/2026 | -2.6% | -2.0% | -3.8% |
| 11/6/2025 | -0.6% | 9.0% | 17.4% |
| 8/13/2025 | -8.5% | -6.6% | 7.7% |
| 5/6/2025 | 4.8% | 10.1% | 9.7% |
| 2/6/2025 | -0.3% | 7.3% | -11.2% |
| 11/8/2024 | -9.1% | -16.9% | -14.3% |
| 8/16/2024 | 4.8% | 6.1% | 6.2% |
| 5/9/2024 | -7.5% | -7.7% | -14.2% |
| 2/7/2024 | 4.0% | 6.2% | 9.1% |
| 11/7/2023 | -5.2% | -6.4% | -1.1% |
| 8/18/2023 | 7.0% | 3.1% | 4.8% |
| 5/18/2023 | 12.8% | 13.5% | 23.0% |
| SUMMARY STATS | |||
| # Positive | 6 | 8 | 8 |
| # Negative | 8 | 6 | 5 |
| Median Positive | 5.9% | 6.8% | 8.4% |
| Median Negative | -3.9% | -6.5% | -11.2% |
| Max Positive | 12.8% | 13.5% | 23.0% |
| Max Negative | -9.1% | -16.9% | -14.3% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/12/2026 | 10-K |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/06/2026 | 10-Q |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/13/2025 | 10-K |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 02/06/2025 | 10-Q |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 08/16/2024 | 10-K |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/07/2024 | 10-Q |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/18/2023 | 10-K |
| 03/31/2023 | 05/18/2023 | 10-Q |
| 12/31/2022 | 03/30/2023 | 10-12B/A |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/12/2026 | 10-K |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/06/2026 | 10-Q |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/13/2025 | 10-K |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 02/06/2025 | 10-Q |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 08/16/2024 | 10-K |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/07/2024 | 10-Q |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/18/2023 | 10-K |
| 03/31/2023 | 05/18/2023 | 10-Q |
| 12/31/2022 | 03/30/2023 | 10-12B/A |
Investor Activity (13F)
Updated Sep 8, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
Industry Resources
| Communication Services Resources |
| Variety |
| The Hollywood Reporter |
| Adweek |
| Movies & Entertainment Resources |
| Deadline |
| IndieWire |
| Screen Daily |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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