Madison Square Garden Sports vs TKO Group
Add, change or remove companies; up to four.
The short version
- TKO Group is the larger business, with $4.7B of revenue in fiscal 2025 against $1.2B for Madison Square Garden Sports, about 4.1 times as much.
- Madison Square Garden Sports grew revenue faster (11.0%, against β3.1%).
- TKO Group kept more of each dollar of sales as operating profit (17.6% operating margin, against 2.5%).
| Latest fiscal year | MSGS Β· FY26 | TKO Β· FY25 |
|---|---|---|
| Size | ||
| Market cap | $9.4B | $13.1B |
| Revenue | $1.2B | $4.7B |
| Free cash flow | $61.3M | β |
| Net income | $7.8M | $195M |
| Growth | ||
| Revenue growth | 11.0% | β3.1% |
| 5-year growth | 22.7% | β |
| Share count change | 0.7% | 12.9% |
| Profitability | ||
| Gross margin | β | β |
| Operating margin | 2.5% | 17.6% |
| Net margin | 0.7% | 4.1% |
| FCF margin | 5.3% | β |
| Return on capital | β | 5.9% |
| Return on equity | β | 5.0% |
| Balance sheet | ||
| Net debt | $94.0M | $3.2B |
| Net debt / EBITDA | 2.9x | 2.4x |
| Dividends and buybacks | $0.5M | $1.1B |
| Valuation & quality | ||
| P/E | β | β |
| Piotroski F-score | 7 | 5 |
FY17
MSGS $1.3B
TKO β
FY18
MSGS $1.6B
TKO β
FY19
MSGS $1.6B
TKO β
FY20
MSGS $603M
TKO β
FY21
MSGS $416M
TKO $1.0B
FY22
MSGS $821M
TKO $1.1B
FY23
MSGS $887M
TKO $3.2B
FY24
MSGS $1.0B
TKO $4.9B
FY25
MSGS $1.0B
TKO $4.7B
FY26
MSGS $1.2B
TKO β
MSGS
TKO
FY17
MSGS β4.3%
TKO β
FY18
MSGS β1.2%
TKO β
FY19
MSGS β3.6%
TKO β
FY20
MSGS β15.6%
TKO β
FY21
MSGS β18.9%
TKO 37.9%
FY22
MSGS 10.5%
TKO 47.8%
FY23
MSGS 9.6%
TKO 11.7%
FY24
MSGS 14.2%
TKO 0.6%
FY25
MSGS 1.4%
TKO 17.6%
FY26
MSGS 2.5%
TKO β
MSGS
TKO
FY17
MSGS $179M
TKO β
FY18
MSGS $25.7M
TKO β
FY19
MSGS β$27.6M
TKO β
FY20
MSGS β$359M
TKO β
FY21
MSGS β$35.8M
TKO β
FY22
MSGS $177M
TKO β
FY23
MSGS $151M
TKO β
FY24
MSGS $90.7M
TKO β
FY25
MSGS $88.0M
TKO β
FY26
MSGS $61.3M
TKO β
MSGS
TKO
FY17
MSGS β
TKO β
FY18
MSGS β0.6%
TKO β
FY19
MSGS β1.8%
TKO β
FY20
MSGS β
TKO β
FY21
MSGS β
TKO β
FY22
MSGS β
TKO β
FY23
MSGS β
TKO 3.4%
FY24
MSGS β
TKO 0.2%
FY25
MSGS β
TKO 5.9%
FY26
MSGS β
TKO β
MSGS
TKO
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.