Madison Square Garden Sports (MSGS)
Market Price (12/18/2025): $240.79 | Market Cap: $5.8 BilSector: Communication Services | Industry: Movies & Entertainment
Madison Square Garden Sports (MSGS)
Market Price (12/18/2025): $240.79Market Cap: $5.8 BilSector: Communication ServicesIndustry: Movies & Entertainment
Investment Highlights
Why It Matters
Which of these 2 stories sounds closer for this stock?
1. Generates cash flow
The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.
2. Riding a trend
Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow
| Low stock price volatilityVol 12M is 25% | Trading close to highsDist 52W High is 0.0%, Dist 3Y High is 0.0% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -4.3 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -0.4% |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization. Themes include Experiential Retail. | Weak multi-year price returns2Y Excs Rtn is -2.0%, 3Y Excs Rtn is -18% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 4,748x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 167x |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.2%, Rev Chg QQuarterly Revenue Change % is -26% | ||
| 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 -4.6% | ||
| Key risksMSGS key risks include [1] potential reduction in revenue and credit risk exposure from its specific media rights partner, Show more. |
| Low stock price volatilityVol 12M is 25% |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization. Themes include Experiential Retail. |
| Trading close to highsDist 52W High is 0.0%, Dist 3Y High is 0.0% |
| Weak multi-year price returns2Y Excs Rtn is -2.0%, 3Y Excs Rtn is -18% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -4.3 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -0.4% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 4,748x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 167x |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.2%, Rev Chg QQuarterly Revenue Change % is -26% |
| 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 -4.6% |
| Key risksMSGS key risks include [1] potential reduction in revenue and credit risk exposure from its specific media rights partner, Show more. |
Valuation, Metrics & Events
MSGS Stock
Why The Stock Moved
Qualitative Assessment
AI Generated Analysis | Feedback
The search results provide several reports from Madison Square Garden Sports (MSGS) for the fiscal year 2025 and the first quarter of fiscal year 2026, which falls within the requested period of August 31, 2025, to December 18, 2025. It also includes analyst ratings and stock performance up to December 2025.
Here are the key points for MSGS stock movement during the approximate period from August 31, 2025, to December 18, 2025:
1. Madison Square Garden Sports reported fiscal 2025 full-year revenues of $1,039.2 million, an increase of 1% year-over-year, while operating income decreased by $131.2 million to $14.8 million. The fiscal fourth quarter of 2025, which ended June 30, 2025, saw revenues of $204.0 million, a 10% decrease compared to the prior year quarter, and an operating loss of $22.6 million.
2. The company's fiscal 2025 results were impacted by the New York Knicks' participation in the NBA playoffs, reaching the Eastern Conference Finals, but also reflected reductions in local media rights fees and investments in teams. Growth in per-game revenues for tickets, sponsorship, and suites partially offset these factors.
Stock Movement Drivers
Return vs. Risk
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| MSGS Return | -12% | -6% | 10% | -1% | 24% | 4% | 17% |
| Peers Return | � | � | � | � | 32% | 45% | � |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 14% | 108% |
Monthly Win Rates [3] | |||||||
| MSGS Win Rate | 50% | 58% | 67% | 58% | 67% | 33% | |
| Peers Win Rate | � | � | � | 38% | 56% | 60% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| MSGS Max Drawdown | -35% | -16% | -21% | -10% | -2% | -22% | |
| Peers Max Drawdown | � | � | � | � | -8% | -14% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: BATRA, TKO, LYV, SPHR.
[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] 2025 data is for the year up to 12/17/2025 (YTD)
How Low Can It Go
| Event | MSGS | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -33.3% | -25.4% |
| % Gain to Breakeven | 49.9% | 34.1% |
| Time to Breakeven | 213 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -39.0% | -33.9% |
| % Gain to Breakeven | 64.0% | 51.3% |
| Time to Breakeven | 1,682 days | 148 days |
| 2018 Correction | ||
| % Loss | -25.9% | -19.8% |
| % Gain to Breakeven | 34.9% | 24.7% |
| Time to Breakeven | 2,180 days | 120 days |
Compare to BFAM, LOPE, UNF, DV, ANGX
In The Past
Madison Square Garden Sports's stock fell -33.3% during the 2022 Inflation Shock from a high on 3/1/2021. A -33.3% loss requires a 49.9% gain to breakeven.
Preserve Wealth
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Asset Allocation
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Latest Trefis Analyses
Trade Ideas
Select past ideas related to MSGS. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11302025 | PINS | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -1.3% | -1.3% | -1.4% | |
| 11212025 | TMUS | T-Mobile US | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -5.0% | -5.0% | -6.4% |
| 11212025 | Z | Zillow | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -1.5% | -1.5% | -3.9% |
| 11072025 | IRDM | Iridium Communications | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 1.3% | 1.3% | -5.6% |
| 10032025 | TTD | Trade Desk | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | -28.9% | -28.9% | -29.8% |
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11302025 | PINS | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -1.3% | -1.3% | -1.4% | |
| 11212025 | TMUS | T-Mobile US | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -5.0% | -5.0% | -6.4% |
| 11212025 | Z | Zillow | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -1.5% | -1.5% | -3.9% |
| 11072025 | IRDM | Iridium Communications | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 1.3% | 1.3% | -5.6% |
| 10032025 | TTD | Trade Desk | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | -28.9% | -28.9% | -29.8% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for Madison Square Garden Sports
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 136.41 |
| Mkt Cap | 5.8 |
| Rev LTM | 1,054 |
| Op Inc LTM | 18 |
| FCF LTM | 42 |
| FCF 3Y Avg | 81 |
| CFO LTM | 97 |
| CFO 3Y Avg | 83 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 2.6% |
| Rev Chg 3Y Avg | 12.1% |
| Rev Chg Q | -4.0% |
| QoQ Delta Rev Chg LTM | -1.0% |
| Op Mgn LTM | 2.4% |
| Op Mgn 3Y Avg | 4.6% |
| QoQ Delta Op Mgn LTM | 0.4% |
| CFO/Rev LTM | 9.2% |
| CFO/Rev 3Y Avg | 8.5% |
| FCF/Rev LTM | 3.9% |
| FCF/Rev 3Y Avg | 4.9% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 5.8 |
| P/S | 3.9 |
| P/EBIT | 31.0 |
| P/E | -16.5 |
| P/CFO | 23.1 |
| Total Yield | -0.0% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 1.7% |
| D/E | 0.2 |
| Net D/E | 0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 13.4% |
| 3M Rtn | 5.5% |
| 6M Rtn | 21.2% |
| 12M Rtn | 5.3% |
| 3Y Rtn | 73.7% |
| 1M Excs Rtn | 12.7% |
| 3M Excs Rtn | 3.4% |
| 6M Excs Rtn | 8.8% |
| 12M Excs Rtn | -5.0% |
| 3Y Excs Rtn | -0.7% |
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/31/2025 | -4.6% | -4.1% | -1.3% |
| 8/12/2025 | -3.5% | -2.7% | 1.4% |
| 5/2/2025 | -2.8% | -1.0% | -1.6% |
| 2/4/2025 | -3.6% | -4.6% | -8.2% |
| 11/1/2024 | -0.8% | 2.6% | 2.9% |
| 8/13/2024 | -0.5% | 6.6% | 3.3% |
| 5/2/2024 | 0.7% | 3.1% | 2.3% |
| 2/6/2024 | 6.0% | 5.4% | 1.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 11 | 11 |
| # Negative | 14 | 14 | 14 |
| Median Positive | 2.6% | 5.4% | 3.3% |
| Median Negative | -3.3% | -3.8% | -3.5% |
| Max Positive | 11.0% | 14.2% | 17.5% |
| Max Negative | -10.0% | -14.5% | -17.1% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 10312025 | 10-Q 9/30/2025 |
| 6302025 | 8122025 | 10-K 6/30/2025 |
| 3312025 | 5022025 | 10-Q 3/31/2025 |
| 12312024 | 2042025 | 10-Q 12/31/2024 |
| 9302024 | 11012024 | 10-Q 9/30/2024 |
| 6302024 | 8132024 | 10-K 6/30/2024 |
| 3312024 | 5032024 | 10-Q 3/31/2024 |
| 12312023 | 2062024 | 10-Q 12/31/2023 |
| 9302023 | 11022023 | 10-Q 9/30/2023 |
| 6302023 | 8172023 | 10-K 6/30/2023 |
| 3312023 | 5042023 | 10-Q 3/31/2023 |
| 12312022 | 2072023 | 10-Q 12/31/2022 |
| 9302022 | 10272022 | 10-Q 9/30/2022 |
| 6302022 | 8182022 | 10-K 6/30/2022 |
| 3312022 | 5052022 | 10-Q 3/31/2022 |
| 12312021 | 2032022 | 10-Q 12/31/2021 |
External Quote Links
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| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |