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Side-by-side financial comparison of Alarm.com Holdings, Inc. (ALRM) and Madison Square Garden Sports Corp. (MSGS). Click either name above to swap in a different company.
Madison Square Garden Sports Corp. is the larger business by last-quarter revenue ($403.4M vs $261.7M, roughly 1.5× Alarm.com Holdings, Inc.). Alarm.com Holdings, Inc. runs the higher net margin — 13.2% vs 2.0%, a 11.2% gap on every dollar of revenue. On growth, Madison Square Garden Sports Corp. posted the faster year-over-year revenue change (12.8% vs 8.0%). Alarm.com Holdings, Inc. produced more free cash flow last quarter ($35.1M vs $31.6M). Over the past eight quarters, Alarm.com Holdings, Inc.'s revenue compounded faster (8.3% CAGR vs -3.1%).
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 MSGS — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $261.7M | $403.4M |
| Net Profit | $34.6M | $8.2M |
| Gross Margin | 66.0% | — |
| Operating Margin | 13.4% | 5.5% |
| Net Margin | 13.2% | 2.0% |
| Revenue YoY | 8.0% | 12.8% |
| Net Profit YoY | 14.8% | 641.9% |
| EPS (diluted) | $0.66 | $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 | $261.7M | $403.4M | ||
| Q3 25 | $256.4M | $39.5M | ||
| Q2 25 | $254.3M | $204.0M | ||
| Q1 25 | $238.8M | $424.2M | ||
| Q4 24 | $242.2M | $357.8M | ||
| Q3 24 | $240.5M | $53.3M | ||
| Q2 24 | $233.8M | $227.3M | ||
| Q1 24 | $223.3M | $430.0M |
| Q4 25 | $34.6M | $8.2M | ||
| Q3 25 | $35.1M | $-8.8M | ||
| Q2 25 | $34.2M | $-1.8M | ||
| Q1 25 | $27.7M | $-14.2M | ||
| Q4 24 | $30.1M | $1.1M | ||
| Q3 24 | $36.7M | $-7.5M | ||
| Q2 24 | $33.5M | $25.5M | ||
| Q1 24 | $23.6M | $37.9M |
| 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% | 5.5% | ||
| Q3 25 | 14.4% | -69.5% | ||
| Q2 25 | 12.6% | -11.1% | ||
| Q1 25 | 12.4% | 7.6% | ||
| Q4 24 | 12.7% | 3.7% | ||
| Q3 24 | 13.8% | -15.5% | ||
| Q2 24 | 11.0% | 23.0% | ||
| Q1 24 | 8.4% | 18.5% |
| Q4 25 | 13.2% | 2.0% | ||
| Q3 25 | 13.7% | -22.3% | ||
| Q2 25 | 13.5% | -0.9% | ||
| Q1 25 | 11.6% | -3.4% | ||
| Q4 24 | 12.4% | 0.3% | ||
| Q3 24 | 15.3% | -14.1% | ||
| Q2 24 | 14.3% | 11.2% | ||
| Q1 24 | 10.6% | 8.8% |
| Q4 25 | $0.66 | $0.34 | ||
| Q3 25 | $0.65 | $-0.37 | ||
| Q2 25 | $0.63 | $-0.08 | ||
| Q1 25 | $0.52 | $-0.59 | ||
| Q4 24 | $0.56 | $0.05 | ||
| Q3 24 | $0.67 | $-0.31 | ||
| Q2 24 | $0.62 | $1.07 | ||
| Q1 24 | $0.44 | $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 | $960.6M | $81.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $848.2M | $-282.1M |
| Total Assets | $2.1B | $1.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $960.6M | $81.3M | ||
| Q3 25 | $1.1B | $48.6M | ||
| Q2 25 | $1.0B | $144.6M | ||
| Q1 25 | $1.2B | $96.5M | ||
| Q4 24 | $1.2B | $107.8M | ||
| Q3 24 | $1.2B | $52.3M | ||
| Q2 24 | $1.1B | $89.1M | ||
| Q1 24 | $747.9M | $40.0M |
| Q4 25 | $848.2M | $-282.1M | ||
| Q3 25 | $827.2M | $-294.2M | ||
| Q2 25 | $797.3M | $-281.4M | ||
| Q1 25 | $759.6M | $-283.4M | ||
| Q4 24 | $726.5M | $-273.1M | ||
| Q3 24 | $690.3M | $-277.5M | ||
| Q2 24 | $645.5M | $-266.3M | ||
| Q1 24 | $728.1M | $-294.0M |
| Q4 25 | $2.1B | $1.5B | ||
| Q3 25 | $2.1B | $1.5B | ||
| Q2 25 | $2.1B | $1.5B | ||
| Q1 25 | $2.1B | $1.5B | ||
| Q4 24 | $2.0B | $1.4B | ||
| Q3 24 | $2.0B | $1.4B | ||
| Q2 24 | $1.9B | $1.3B | ||
| Q1 24 | $1.5B | $1.4B |
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 | $32.4M |
| Free Cash FlowOCF − Capex | $35.1M | $31.6M |
| FCF MarginFCF / Revenue | 13.4% | 7.8% |
| Capex IntensityCapex / Revenue | 0.3% | 0.2% |
| Cash ConversionOCF / Net Profit | 1.04× | 3.94× |
| TTM Free Cash FlowTrailing 4 quarters | $137.0M | $-480.0K |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $35.9M | $32.4M | ||
| Q3 25 | $70.6M | $-85.0M | ||
| Q2 25 | $22.7M | $49.7M | ||
| Q1 25 | $24.1M | $6.3M | ||
| Q4 24 | $56.3M | $61.8M | ||
| Q3 24 | $77.3M | $-26.2M | ||
| Q2 24 | $23.0M | $108.4M | ||
| Q1 24 | $49.9M | $4.0M |
| Q4 25 | $35.1M | $31.6M | ||
| Q3 25 | $65.9M | $-85.3M | ||
| Q2 25 | $18.2M | $49.4M | ||
| Q1 25 | $17.9M | $3.9M | ||
| Q4 24 | $54.0M | $61.2M | ||
| Q3 24 | $74.5M | $-26.5M | ||
| Q2 24 | $21.0M | $108.0M | ||
| Q1 24 | $46.8M | $3.9M |
| Q4 25 | 13.4% | 7.8% | ||
| Q3 25 | 25.7% | -216.3% | ||
| Q2 25 | 7.1% | 24.2% | ||
| Q1 25 | 7.5% | 0.9% | ||
| Q4 24 | 22.3% | 17.1% | ||
| Q3 24 | 31.0% | -49.7% | ||
| Q2 24 | 9.0% | 47.5% | ||
| Q1 24 | 21.0% | 0.9% |
| Q4 25 | 0.3% | 0.2% | ||
| Q3 25 | 1.9% | 0.9% | ||
| Q2 25 | 1.8% | 0.2% | ||
| Q1 25 | 2.6% | 0.6% | ||
| Q4 24 | 0.9% | 0.1% | ||
| Q3 24 | 1.2% | 0.7% | ||
| Q2 24 | 0.9% | 0.2% | ||
| Q1 24 | 1.4% | 0.0% |
| Q4 25 | 1.04× | 3.94× | ||
| Q3 25 | 2.01× | — | ||
| Q2 25 | 0.66× | — | ||
| Q1 25 | 0.87× | — | ||
| Q4 24 | 1.87× | 55.61× | ||
| Q3 24 | 2.11× | — | ||
| Q2 24 | 0.69× | 4.25× | ||
| Q1 24 | 2.11× | 0.11× |
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% |
MSGS
| Event Related | $167.2M | 41% |
| Media Rights | $122.3M | 30% |
| Sponsorship Signage And Suite Licenses | $98.5M | 24% |
| League Distribution | $15.4M | 4% |
