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Side-by-side financial comparison of Allegiant Travel CO (ALGT) and Madison Square Garden Sports Corp. (MSGS). Click either name above to swap in a different company.
Allegiant Travel CO is the larger business by last-quarter revenue ($595.5M vs $403.4M, roughly 1.5× Madison Square Garden Sports Corp.). Allegiant Travel CO runs the higher net margin — 5.4% vs 2.0%, a 3.3% gap on every dollar of revenue. On growth, Madison Square Garden Sports Corp. posted the faster year-over-year revenue change (12.8% vs 7.6%). Allegiant Travel CO produced more free cash flow last quarter ($90.4M vs $31.6M). Over the past eight quarters, Allegiant Travel CO's revenue compounded faster (1.3% CAGR vs -3.1%).
Allegiant Air, styled as allegiant, is an American low-cost airline headquartered in Las Vegas, Nevada. The airline focuses on serving leisure traffic from small and medium-sized cities which it considers to be underserved, using an ultra low-cost business model with minimal inclusions in fares and a greater number of add-on fees.
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
ALGT vs MSGS — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $595.5M | $403.4M |
| Net Profit | $31.9M | $8.2M |
| Gross Margin | — | — |
| Operating Margin | 11.2% | 5.5% |
| Net Margin | 5.4% | 2.0% |
| Revenue YoY | 7.6% | 12.8% |
| Net Profit YoY | 114.8% | 641.9% |
| EPS (diluted) | $1.82 | $0.34 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $595.5M | $403.4M | ||
| Q3 25 | $494.1M | $39.5M | ||
| Q2 25 | $617.9M | $204.0M | ||
| Q1 25 | $616.8M | $424.2M | ||
| Q4 24 | $553.6M | $357.8M | ||
| Q3 24 | $489.0M | $53.3M | ||
| Q2 24 | $594.5M | $227.3M | ||
| Q1 24 | $579.9M | $430.0M |
| Q4 25 | $31.9M | $8.2M | ||
| Q3 25 | $-43.6M | $-8.8M | ||
| Q2 25 | $-65.2M | $-1.8M | ||
| Q1 25 | $32.1M | $-14.2M | ||
| Q4 24 | $-216.2M | $1.1M | ||
| Q3 24 | $-36.8M | $-7.5M | ||
| Q2 24 | $13.7M | $25.5M | ||
| Q1 24 | $-919.0K | $37.9M |
| Q4 25 | 11.2% | 5.5% | ||
| Q3 25 | -5.5% | -69.5% | ||
| Q2 25 | -10.9% | -11.1% | ||
| Q1 25 | 10.5% | 7.6% | ||
| Q4 24 | -47.7% | 3.7% | ||
| Q3 24 | -5.4% | -15.5% | ||
| Q2 24 | 5.9% | 23.0% | ||
| Q1 24 | 2.7% | 18.5% |
| Q4 25 | 5.4% | 2.0% | ||
| Q3 25 | -8.8% | -22.3% | ||
| Q2 25 | -10.5% | -0.9% | ||
| Q1 25 | 5.2% | -3.4% | ||
| Q4 24 | -39.1% | 0.3% | ||
| Q3 24 | -7.5% | -14.1% | ||
| Q2 24 | 2.3% | 11.2% | ||
| Q1 24 | -0.2% | 8.8% |
| Q4 25 | $1.82 | $0.34 | ||
| Q3 25 | $-2.41 | $-0.37 | ||
| Q2 25 | $-3.62 | $-0.08 | ||
| Q1 25 | $1.73 | $-0.59 | ||
| Q4 24 | $-12.12 | $0.05 | ||
| Q3 24 | $-2.05 | $-0.31 | ||
| Q2 24 | $0.75 | $1.07 | ||
| Q1 24 | $-0.07 | $1.57 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $805.7M | $81.3M |
| Total DebtLower is stronger | $1.7B | — |
| Stockholders' EquityBook value | $1.1B | $-282.1M |
| Total Assets | $4.2B | $1.5B |
| Debt / EquityLower = less leverage | 1.60× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $805.7M | $81.3M | ||
| Q3 25 | $956.7M | $48.6M | ||
| Q2 25 | $842.8M | $144.6M | ||
| Q1 25 | $878.6M | $96.5M | ||
| Q4 24 | $781.1M | $107.8M | ||
| Q3 24 | $759.3M | $52.3M | ||
| Q2 24 | $791.9M | $89.1M | ||
| Q1 24 | $809.9M | $40.0M |
| Q4 25 | $1.7B | — | ||
| Q3 25 | $1.8B | — | ||
| Q2 25 | $1.8B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.6B | — | ||
| Q3 24 | $1.8B | — | ||
| Q2 24 | $1.7B | — | ||
| Q1 24 | $1.8B | — |
| Q4 25 | $1.1B | $-282.1M | ||
| Q3 25 | $1.0B | $-294.2M | ||
| Q2 25 | $1.1B | $-281.4M | ||
| Q1 25 | $1.1B | $-283.4M | ||
| Q4 24 | $1.1B | $-273.1M | ||
| Q3 24 | $1.3B | $-277.5M | ||
| Q2 24 | $1.3B | $-266.3M | ||
| Q1 24 | $1.3B | $-294.0M |
| Q4 25 | $4.2B | $1.5B | ||
| Q3 25 | $4.4B | $1.5B | ||
| Q2 25 | $4.4B | $1.5B | ||
| Q1 25 | $4.5B | $1.5B | ||
| Q4 24 | $4.4B | $1.4B | ||
| Q3 24 | $4.8B | $1.4B | ||
| Q2 24 | $4.9B | $1.3B | ||
| Q1 24 | $4.9B | $1.4B |
| Q4 25 | 1.60× | — | ||
| Q3 25 | 1.76× | — | ||
| Q2 25 | 1.68× | — | ||
| Q1 25 | 1.57× | — | ||
| Q4 24 | 1.48× | — | ||
| Q3 24 | 1.36× | — | ||
| Q2 24 | 1.30× | — | ||
| Q1 24 | 1.35× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $112.2M | $32.4M |
| Free Cash FlowOCF − Capex | $90.4M | $31.6M |
| FCF MarginFCF / Revenue | 15.2% | 7.8% |
| Capex IntensityCapex / Revenue | 3.7% | 0.2% |
| Cash ConversionOCF / Net Profit | 3.51× | 3.94× |
| TTM Free Cash FlowTrailing 4 quarters | $75.1M | $-480.0K |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $112.2M | $32.4M | ||
| Q3 25 | $-6.1M | $-85.0M | ||
| Q2 25 | $92.2M | $49.7M | ||
| Q1 25 | $191.4M | $6.3M | ||
| Q4 24 | $84.4M | $61.8M | ||
| Q3 24 | $17.3M | $-26.2M | ||
| Q2 24 | $68.9M | $108.4M | ||
| Q1 24 | $167.8M | $4.0M |
| Q4 25 | $90.4M | $31.6M | ||
| Q3 25 | $-121.7M | $-85.3M | ||
| Q2 25 | $-10.5M | $49.4M | ||
| Q1 25 | $116.9M | $3.9M | ||
| Q4 24 | $24.0M | $61.2M | ||
| Q3 24 | $-28.7M | $-26.5M | ||
| Q2 24 | $7.0M | $108.0M | ||
| Q1 24 | $35.9M | $3.9M |
| Q4 25 | 15.2% | 7.8% | ||
| Q3 25 | -24.6% | -216.3% | ||
| Q2 25 | -1.7% | 24.2% | ||
| Q1 25 | 19.0% | 0.9% | ||
| Q4 24 | 4.3% | 17.1% | ||
| Q3 24 | -5.9% | -49.7% | ||
| Q2 24 | 1.2% | 47.5% | ||
| Q1 24 | 6.2% | 0.9% |
| Q4 25 | 3.7% | 0.2% | ||
| Q3 25 | 23.4% | 0.9% | ||
| Q2 25 | 16.6% | 0.2% | ||
| Q1 25 | 12.1% | 0.6% | ||
| Q4 24 | 10.9% | 0.1% | ||
| Q3 24 | 9.4% | 0.7% | ||
| Q2 24 | 10.4% | 0.2% | ||
| Q1 24 | 22.7% | 0.0% |
| Q4 25 | 3.51× | 3.94× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 5.96× | — | ||
| Q4 24 | — | 55.61× | ||
| Q3 24 | — | — | ||
| Q2 24 | 5.03× | 4.25× | ||
| Q1 24 | — | 0.11× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALGT
| Airrelatedrevenue | $307.1M | 52% |
| Scheduled Service Revenue | $267.1M | 45% |
| Cobrand Revenue | $21.3M | 4% |
| Other | $1.0K | 0% |
MSGS
| Event Related | $167.2M | 41% |
| Media Rights | $122.3M | 30% |
| Sponsorship Signage And Suite Licenses | $98.5M | 24% |
| League Distribution | $15.4M | 4% |
