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Side-by-side financial comparison of Alarm.com Holdings, Inc. (ALRM) and Madison Square Garden Entertainment Corp. (MSGE). Click either name above to swap in a different company.
Madison Square Garden Entertainment Corp. is the larger business by last-quarter revenue ($424.8M vs $261.7M, roughly 1.6× Alarm.com Holdings, Inc.). Madison Square Garden Entertainment Corp. runs the higher net margin — 21.8% vs 13.2%, a 8.6% gap on every dollar of revenue. On growth, Madison Square Garden Entertainment Corp. posted the faster year-over-year revenue change (12.5% vs 8.0%). Over the past eight quarters, Madison Square Garden Entertainment Corp.'s revenue compounded faster (48.9% CAGR vs 8.3%).
Alarm.com, Inc. is an American technology company that provides cloud-based services for remote control, home automation, and alarm monitoring services. The company was founded in 2000 as a spinoff from MicroStrategy. The company is based in Tysons, Virginia.
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
ALRM vs MSGE — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $261.7M | $424.8M |
| Net Profit | $34.6M | $92.7M |
| Gross Margin | 66.0% | — |
| Operating Margin | 13.4% | 38.6% |
| Net Margin | 13.2% | 21.8% |
| Revenue YoY | 8.0% | 12.5% |
| Net Profit YoY | 14.8% | 22.2% |
| EPS (diluted) | $0.66 | $1.94 |
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 | $261.7M | $424.8M | ||
| Q3 25 | $256.4M | $154.1M | ||
| Q2 25 | $254.3M | $145.1M | ||
| Q1 25 | $238.8M | $206.0M | ||
| Q4 24 | $242.2M | $377.6M | ||
| Q3 24 | $240.5M | $134.1M | ||
| Q2 24 | $233.8M | $177.6M | ||
| Q1 24 | $223.3M | $191.6M |
| Q4 25 | $34.6M | $92.7M | ||
| Q3 25 | $35.1M | $-21.7M | ||
| Q2 25 | $34.2M | $-27.2M | ||
| Q1 25 | $27.7M | $8.0M | ||
| Q4 24 | $30.1M | $75.9M | ||
| Q3 24 | $36.7M | $-19.3M | ||
| Q2 24 | $33.5M | $66.9M | ||
| Q1 24 | $23.6M | $2.8M |
| Q4 25 | 66.0% | — | ||
| Q3 25 | 65.8% | — | ||
| Q2 25 | 65.6% | — | ||
| Q1 25 | 67.2% | — | ||
| Q4 24 | 65.5% | — | ||
| Q3 24 | 64.8% | — | ||
| Q2 24 | 65.2% | — | ||
| Q1 24 | 65.7% | — |
| Q4 25 | 13.4% | 38.6% | ||
| Q3 25 | 14.4% | -19.3% | ||
| Q2 25 | 12.6% | -17.7% | ||
| Q1 25 | 12.4% | 13.3% | ||
| Q4 24 | 12.7% | 36.8% | ||
| Q3 24 | 13.8% | -13.8% | ||
| Q2 24 | 11.0% | -5.0% | ||
| Q1 24 | 8.4% | 8.8% |
| Q4 25 | 13.2% | 21.8% | ||
| Q3 25 | 13.7% | -14.0% | ||
| Q2 25 | 13.5% | -18.7% | ||
| Q1 25 | 11.6% | 3.9% | ||
| Q4 24 | 12.4% | 20.1% | ||
| Q3 24 | 15.3% | -14.4% | ||
| Q2 24 | 14.3% | 37.7% | ||
| Q1 24 | 10.6% | 1.5% |
| Q4 25 | $0.66 | $1.94 | ||
| Q3 25 | $0.65 | $-0.46 | ||
| Q2 25 | $0.63 | $-0.56 | ||
| Q1 25 | $0.52 | $0.17 | ||
| Q4 24 | $0.56 | $1.56 | ||
| Q3 24 | $0.67 | $-0.40 | ||
| Q2 24 | $0.62 | $1.32 | ||
| Q1 24 | $0.44 | $0.06 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $960.6M | $157.1M |
| Total DebtLower is stronger | — | $554.6M |
| Stockholders' EquityBook value | $848.2M | $36.0M |
| Total Assets | $2.1B | $1.8B |
| Debt / EquityLower = less leverage | — | 15.40× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $960.6M | $157.1M | ||
| Q3 25 | $1.1B | $29.9M | ||
| Q2 25 | $1.0B | $43.0M | ||
| Q1 25 | $1.2B | $89.0M | ||
| Q4 24 | $1.2B | $54.9M | ||
| Q3 24 | $1.2B | $37.3M | ||
| Q2 24 | $1.1B | $33.3M | ||
| Q1 24 | $747.9M | $28.0M |
| Q4 25 | — | $554.6M | ||
| Q3 25 | — | $581.7M | ||
| Q2 25 | — | $568.8M | ||
| Q1 25 | — | $577.4M | ||
| Q4 24 | — | $584.7M | ||
| Q3 24 | — | $647.0M | ||
| Q2 24 | — | $599.2M | ||
| Q1 24 | — | $602.5M |
| Q4 25 | $848.2M | $36.0M | ||
| Q3 25 | $827.2M | $-65.8M | ||
| Q2 25 | $797.3M | $-13.3M | ||
| Q1 25 | $759.6M | $9.5M | ||
| Q4 24 | $726.5M | $10.3M | ||
| Q3 24 | $690.3M | $-48.7M | ||
| Q2 24 | $645.5M | $-23.2M | ||
| Q1 24 | $728.1M | $-94.6M |
| Q4 25 | $2.1B | $1.8B | ||
| Q3 25 | $2.1B | $1.7B | ||
| Q2 25 | $2.1B | $1.7B | ||
| Q1 25 | $2.1B | $1.7B | ||
| Q4 24 | $2.0B | $1.6B | ||
| Q3 24 | $2.0B | $1.6B | ||
| Q2 24 | $1.9B | $1.6B | ||
| Q1 24 | $1.5B | $1.5B |
| Q4 25 | — | 15.40× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 60.61× | ||
| Q4 24 | — | 56.61× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $35.9M | $164.4M |
| Free Cash FlowOCF − Capex | $35.1M | — |
| FCF MarginFCF / Revenue | 13.4% | — |
| Capex IntensityCapex / Revenue | 0.3% | — |
| Cash ConversionOCF / Net Profit | 1.04× | 1.77× |
| TTM Free Cash FlowTrailing 4 quarters | $137.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $35.9M | $164.4M | ||
| Q3 25 | $70.6M | $19.8M | ||
| Q2 25 | $22.7M | $-27.0M | ||
| Q1 25 | $24.1M | $56.8M | ||
| Q4 24 | $56.3M | $112.9M | ||
| Q3 24 | $77.3M | $-27.4M | ||
| Q2 24 | $23.0M | $212.0K | ||
| Q1 24 | $49.9M | $5.8M |
| Q4 25 | $35.1M | — | ||
| Q3 25 | $65.9M | — | ||
| Q2 25 | $18.2M | — | ||
| Q1 25 | $17.9M | — | ||
| Q4 24 | $54.0M | — | ||
| Q3 24 | $74.5M | — | ||
| Q2 24 | $21.0M | — | ||
| Q1 24 | $46.8M | — |
| Q4 25 | 13.4% | — | ||
| Q3 25 | 25.7% | — | ||
| Q2 25 | 7.1% | — | ||
| Q1 25 | 7.5% | — | ||
| Q4 24 | 22.3% | — | ||
| Q3 24 | 31.0% | — | ||
| Q2 24 | 9.0% | — | ||
| Q1 24 | 21.0% | — |
| Q4 25 | 0.3% | — | ||
| Q3 25 | 1.9% | — | ||
| Q2 25 | 1.8% | — | ||
| Q1 25 | 2.6% | — | ||
| Q4 24 | 0.9% | — | ||
| Q3 24 | 1.2% | — | ||
| Q2 24 | 0.9% | — | ||
| Q1 24 | 1.4% | — |
| Q4 25 | 1.04× | 1.77× | ||
| Q3 25 | 2.01× | — | ||
| Q2 25 | 0.66× | — | ||
| Q1 25 | 0.87× | 7.07× | ||
| Q4 24 | 1.87× | 1.49× | ||
| Q3 24 | 2.11× | — | ||
| Q2 24 | 0.69× | 0.00× | ||
| Q1 24 | 2.11× | 2.08× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALRM
| License And Service | $180.2M | 69% |
| Hardwareand Other Revenue | $81.4M | 31% |
MSGE
| Ticketing And Venue License Fee Revenues | $263.5M | 62% |
| Food Beverage And Merchandise Revenues | $64.3M | 15% |
| Related Party | $43.9M | 10% |
| Arena Licensing Fees And Other Leasing Revenue | $35.2M | 8% |
| Other | $15.9M | 4% |
