(MSGE) Madison Square Garden - Overview
Sector: Communication Services | Industry: Entertainment | Exchange: NYSE (USA) | Market Cap: 3.294m USD | Total Return: 89.6% in 12m
Avg Turnover: 28.4M
EPS Trend: 20.5%
Qual. Beats: 0
Rev. Trend: 90.8%
Qual. Beats: 0
Warnings
Altman Z'' 0.20 < 1.0 - financial distress zone
Tailwinds
Supp Ema20, Rs Leader, Idiosyncratic Leader, Tailwind
Madison Square Garden Entertainment Corp. (MSGE) operates as a live entertainment entity focused on venue management and content production. The company’s primary assets include iconic New York City locations such as Madison Square Garden and Radio City Music Hall, alongside the Beacon Theatre and The Chicago Theatre. Its business model relies on a mix of third-party bookings for concerts and sporting events, as well as proprietary productions like the Christmas Spectacular Starring the Radio City Rockettes.
The live entertainment sector is characterized by high barriers to entry due to the scarcity of premier urban real estate and the long-term nature of venue lease or ownership structures. MSGE functions within a vertically integrated framework, capturing revenue through ticket sales, hospitality, and sponsorship agreements tied to its physical infrastructure.
Investors may find ValueRay useful for deeper fundamental analysis of the companys valuation.
- Premium venue utilization rates drive core live entertainment rental and booking revenue
- Radio City Rockettes Christmas Spectacular ticket sales impact seasonal fourth quarter earnings
- NYC consumer discretionary spending levels dictate premium seating and hospitality demand
- Long-term arena license agreements provide stable cash flow from professional sports tenants
- Rising labor and security costs pressure operating margins across iconic New York venues
| Net Income: -30.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.08 > 0.02 and ΔFCF/TA 0.86 > 1.0 |
| NWC/Revenue: 15.80% < 20% (prev -23.60%; Δ 39.39% < -1%) |
| CFO/TA 0.08 > 3% & CFO 341.0m > Net Income -30.5m |
| Net Debt (-8.50m) to EBITDA (140.6m): -0.06 < 3 |
| Current Ratio: 1.22 > 1.5 & < 3 |
| Outstanding Shares: last quarter (35.9m) vs 12m ago -25.67% < -2% |
| Gross Margin: 45.55% > 18% (prev 0.45%; Δ 4.51k% > 0.5%) |
| Asset Turnover: 34.17% > 50% (prev 56.03%; Δ -21.87% > 0%) |
| Interest Coverage Ratio: 2.03 > 6 (EBITDA TTM 140.6m / Interest Expense TTM 41.0m) |
| A: 0.04 (Total Current Assets 903.6m - Total Current Liabilities 742.7m) / Total Assets 4.22b |
| B: -0.04 (Retained Earnings -182.0m / Total Assets 4.22b) |
| C: 0.03 (EBIT TTM 83.3m / Avg Total Assets 2.98b) |
| D: -0.09 (Book Value of Equity -182.8m / Total Liabilities 1.97b) |
| Altman-Z'' = 0.20 = B |
| DSRI: 1.54 (Receivables 201.8m/125.2m, Revenue 1.02b/974.7m) |
| GMI: 0.99 (GM 45.55% / 45.19%) |
| AQI: 0.79 (AQ_t 0.14 / AQ_t-1 0.18) |
| SGI: 1.05 (Revenue 1.02b / 974.7m) |
| TATA: -0.09 (NI -30.5m - CFO 341.0m) / TA 4.22b) |
| Beneish M = -2.77 (Cap -4..+1) = A |
As of May 29, 2026, the stock is trading at USD 69.65 with a total of 181,619 shares traded.
Over the past week, the price has changed by +0.10%,
over one month by +7.37%,
over three months by +10.31% and
over the past year by +89.58%.
Madison Square Garden has received a consensus analysts rating of 4.44. Therefore, it is recommended to buy MSGE.
- StrongBuy: 6
- Buy: 1
- Hold: 2
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 76 | 9.1% |
P/E Trailing = 67.6117
P/E Forward = 24.6914
P/S = 3.2342
P/B = 68.6249
Revenue TTM = 1.02b USD
EBIT TTM = 83.3m USD
EBITDA TTM = 140.6m USD
Long Term Debt = 547.5m USD (from longTermDebt, last quarter)
Short Term Debt = 74.2m USD (from shortTermDebt, last quarter)
Debt = 621.7m USD (corrected: LT Debt 547.5m + ST Debt 74.2m) (leases 609.3m already included)
Net Debt = -8.50m USD (calculated: Debt 621.7m - CCE 630.2m)
Enterprise Value = 3.29b USD (3.29b + Debt 621.7m - CCE 630.2m)
Interest Coverage Ratio = 2.03 (Ebit TTM 83.3m / Interest Expense TTM 41.0m)
EV/FCF = 10.05x (Enterprise Value 3.29b / FCF TTM 327.0m)
FCF Yield = 9.95% (FCF TTM 327.0m / Enterprise Value 3.29b)
FCF Margin = 32.10% (FCF TTM 327.0m / Revenue TTM 1.02b)
Net Margin = -3.00% (Net Income TTM -30.5m / Revenue TTM 1.02b)
Gross Margin = 45.55% ((Revenue TTM 1.02b - Cost of Revenue TTM 554.7m) / Revenue TTM)
Gross Margin QoQ = 40.39% (prev 50.72%)
Tobins Q-Ratio = 0.78 (Enterprise Value 3.29b / Total Assets 4.22b)
Interest Expense / Debt = 6.59% (Interest Expense 41.0m / Debt 621.7m)
Taxrate = 37.87% (3.12m / 8.22m)
NOPAT = 51.8m (EBIT 83.3m * (1 - 37.87%))
Current Ratio = 1.22 (Total Current Assets 903.6m / Total Current Liabilities 742.7m)
Debt / Equity = 0.28 (Debt 621.7m / totalStockholderEquity, last quarter 2.25b)
Debt / EBITDA = -0.06 (Net Debt -8.50m / EBITDA 140.6m)
Debt / FCF = -0.03 (Net Debt -8.50m / FCF TTM 327.0m)
Total Stockholder Equity = 1.13b (last 4 quarters mean from totalStockholderEquity)
RoA = -1.02% (Net Income -30.5m / Total Assets 4.22b)
RoE = -2.32% (Net Income TTM -30.5m / Total Stockholder Equity 1.31b)
RoCE = 4.47% (EBIT 83.3m / Capital Employed (Equity 1.31b + L.T.Debt 547.5m))
RoIC = 1.46% (NOPAT 51.8m / Invested Capital 3.55b)
WACC = 8.13% (E(3.29b)/V(3.92b) * Re(8.89%) + D(621.7m)/V(3.92b) * Rd(6.59%) * (1-Tc(0.38)))
Discount Rate = 8.89% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -37.78 | Cagr: -12.13%
[DCF] Terminal Value 77.97% ; FCFF base≈244.1m ; Y1≈279.9m ; Y5≈411.9m
[DCF] Fair Price = 153.5 (EV 6.20b - Net Debt -8.50m = Equity 6.21b / Shares 40.4m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 20.48 | EPS CAGR: 15.58% | SUE: 0.07 | # QB: 0
Revenue Correlation: 90.79 | Revenue CAGR: 6.17% | SUE: 0.65 | # QB: 0
EPS next Quarter (2026-09-30): EPS=-0.28 | Chg30d=+3.51% | Revisions=+0% | Analysts=2
EPS current Year (2026-06-30): EPS=1.12 | Chg30d=+0.90% | Revisions=-20% | GrowthEPS=+0.0% | GrowthRev=+9.3%
EPS next Year (2027-06-30): EPS=2.53 | Chg30d=-1.75% | Revisions=+0% | GrowthEPS=+125.9% | GrowthRev=+6.9%
[Analyst] Revisions Ratio: -20%