Madison Square Garden Sports vs Sphere Entertainment
Add, change or remove companies; up to four.
KIRAβs take AI analyst
I put Madison Square Garden Sports and Sphere Entertainment side by side, using each oneβs latest annual report. Here is what stands out:
- Sphere Entertainment is the larger business, with $1.2B of revenue in fiscal 2025 against $1.2B for Madison Square Garden Sports.
- Sphere Entertainment grew revenue faster (18.8%, against 11.0%).
- Madison Square Garden Sports kept more of each dollar of sales as operating profit (2.5% operating margin, against β18.8%).
Who comes out ahead
Of the 7 measures where higher (or lower) is clearly better, how many each company leads.
Madison Square Garden Sports
MSGS
3/7
5-year growthOperating marginShare count change
Sphere Entertainment
SPHR
3/7
Revenue growthNet marginNet debt / EBITDA
Side by side
Best in the row
| Latest fiscal year | MSGS FY26 | SPHR FY25 |
|---|---|---|
| Size | ||
| Market cap | $9.4B | $3.9B |
| Revenue | $1.2B | $1.2B |
| Free cash flow | $61.3M | β |
| Net income | $7.8M | $33.4M |
| Growth | ||
| Revenue growth | 11.0% | 18.8% |
| 5-year growth | 22.7% | β3.2% |
| Share count change | 0.7% | 28.3% |
| Profitability | ||
| Gross margin | β | β |
| Operating margin | 2.5% | β18.8% |
| Net margin | 0.7% | 2.7% |
| FCF margin | 5.3% | β |
| Return on capital | β | β4.8% |
| Return on equity | β | 1.4% |
| Balance sheet | ||
| Net debt | $94.0M | $171M |
| Net debt / EBITDA | 2.9x | 1.6x |
| Dividends and buybacks | $0.5M | $50.0M |
| Valuation & quality | ||
| P/E | β | β |
| Piotroski F-score | 7 | 7 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.