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Side-by-side financial comparison of American Homes 4 Rent (AMH) and Madison Square Garden Sports Corp. (MSGS). Click either name above to swap in a different company.
American Homes 4 Rent is the larger business by last-quarter revenue ($455.0M vs $403.4M, roughly 1.1× Madison Square Garden Sports Corp.). American Homes 4 Rent runs the higher net margin — 31.7% vs 2.0%, a 29.7% gap on every dollar of revenue. On growth, Madison Square Garden Sports Corp. posted the faster year-over-year revenue change (12.8% vs 4.2%). American Homes 4 Rent produced more free cash flow last quarter ($823.7M vs $31.6M). Over the past eight quarters, American Homes 4 Rent's revenue compounded faster (3.6% CAGR vs -3.1%).
American Homes 4 RentAMHEarnings & Financial Report
American Homes 4 Rent, doing business as AMH, is a real estate investment trust based in Las Vegas, Nevada, that invests in single-family rental homes. As of December 31, 2019, the company owned 52,552 homes in 22 states. Its largest concentrations are in Atlanta, Dallas-Fort Worth, and Charlotte, North Carolina.
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
AMH vs MSGS — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $455.0M | $403.4M |
| Net Profit | $144.3M | $8.2M |
| Gross Margin | — | — |
| Operating Margin | — | 5.5% |
| Net Margin | 31.7% | 2.0% |
| Revenue YoY | 4.2% | 12.8% |
| Net Profit YoY | 0.3% | 641.9% |
| EPS (diluted) | $0.33 | $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 | $455.0M | $403.4M | ||
| Q3 25 | $478.5M | $39.5M | ||
| Q2 25 | $457.5M | $204.0M | ||
| Q1 25 | $459.3M | $424.2M | ||
| Q4 24 | $436.6M | $357.8M | ||
| Q3 24 | $445.1M | $53.3M | ||
| Q2 24 | $423.5M | $227.3M | ||
| Q1 24 | $423.6M | $430.0M |
| Q4 25 | $144.3M | $8.2M | ||
| Q3 25 | $116.8M | $-8.8M | ||
| Q2 25 | $123.6M | $-1.8M | ||
| Q1 25 | $128.7M | $-14.2M | ||
| Q4 24 | $143.9M | $1.1M | ||
| Q3 24 | $87.6M | $-7.5M | ||
| Q2 24 | $108.5M | $25.5M | ||
| Q1 24 | $128.1M | $37.9M |
| Q4 25 | — | 5.5% | ||
| Q3 25 | — | -69.5% | ||
| Q2 25 | — | -11.1% | ||
| Q1 25 | — | 7.6% | ||
| Q4 24 | — | 3.7% | ||
| Q3 24 | — | -15.5% | ||
| Q2 24 | — | 23.0% | ||
| Q1 24 | — | 18.5% |
| Q4 25 | 31.7% | 2.0% | ||
| Q3 25 | 24.4% | -22.3% | ||
| Q2 25 | 27.0% | -0.9% | ||
| Q1 25 | 28.0% | -3.4% | ||
| Q4 24 | 33.0% | 0.3% | ||
| Q3 24 | 19.7% | -14.1% | ||
| Q2 24 | 25.6% | 11.2% | ||
| Q1 24 | 30.2% | 8.8% |
| Q4 25 | $0.33 | $0.34 | ||
| Q3 25 | $0.27 | $-0.37 | ||
| Q2 25 | $0.28 | $-0.08 | ||
| Q1 25 | $0.30 | $-0.59 | ||
| Q4 24 | $0.33 | $0.05 | ||
| Q3 24 | $0.20 | $-0.31 | ||
| Q2 24 | $0.25 | $1.07 | ||
| Q1 24 | $0.30 | $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 | $108.5M | $81.3M |
| Total DebtLower is stronger | $5.1B | — |
| Stockholders' EquityBook value | $7.0B | $-282.1M |
| Total Assets | $13.2B | $1.5B |
| Debt / EquityLower = less leverage | 0.72× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $108.5M | $81.3M | ||
| Q3 25 | $45.6M | $48.6M | ||
| Q2 25 | $323.3M | $144.6M | ||
| Q1 25 | $69.7M | $96.5M | ||
| Q4 24 | $199.4M | $107.8M | ||
| Q3 24 | $162.5M | $52.3M | ||
| Q2 24 | $718.4M | $89.1M | ||
| Q1 24 | $124.8M | $40.0M |
| Q4 25 | $5.1B | — | ||
| Q3 25 | $4.8B | — | ||
| Q2 25 | $5.2B | — | ||
| Q1 25 | $4.9B | — | ||
| Q4 24 | $5.0B | — | ||
| Q3 24 | $4.5B | — | ||
| Q2 24 | $5.0B | — | ||
| Q1 24 | $4.5B | — |
| Q4 25 | $7.0B | $-282.1M | ||
| Q3 25 | $7.2B | $-294.2M | ||
| Q2 25 | $7.2B | $-281.4M | ||
| Q1 25 | $7.2B | $-283.4M | ||
| Q4 24 | $7.2B | $-273.1M | ||
| Q3 24 | $7.0B | $-277.5M | ||
| Q2 24 | $7.0B | $-266.3M | ||
| Q1 24 | $7.0B | $-294.0M |
| Q4 25 | $13.2B | $1.5B | ||
| Q3 25 | $13.3B | $1.5B | ||
| Q2 25 | $13.6B | $1.5B | ||
| Q1 25 | $13.3B | $1.5B | ||
| Q4 24 | $13.4B | $1.4B | ||
| Q3 24 | $12.8B | $1.4B | ||
| Q2 24 | $13.3B | $1.3B | ||
| Q1 24 | $12.8B | $1.4B |
| Q4 25 | 0.72× | — | ||
| Q3 25 | 0.68× | — | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | 0.69× | — | ||
| Q4 24 | 0.70× | — | ||
| Q3 24 | 0.64× | — | ||
| Q2 24 | 0.71× | — | ||
| Q1 24 | 0.64× | — |
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 | $864.3M | $32.4M |
| Free Cash FlowOCF − Capex | $823.7M | $31.6M |
| FCF MarginFCF / Revenue | 181.0% | 7.8% |
| Capex IntensityCapex / Revenue | 8.9% | 0.2% |
| Cash ConversionOCF / Net Profit | 5.99× | 3.94× |
| TTM Free Cash FlowTrailing 4 quarters | $1.5B | $-480.0K |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $864.3M | $32.4M | ||
| Q3 25 | $223.3M | $-85.0M | ||
| Q2 25 | $271.9M | $49.7M | ||
| Q1 25 | $223.4M | $6.3M | ||
| Q4 24 | $811.5M | $61.8M | ||
| Q3 24 | $233.6M | $-26.2M | ||
| Q2 24 | $274.0M | $108.4M | ||
| Q1 24 | $201.8M | $4.0M |
| Q4 25 | $823.7M | $31.6M | ||
| Q3 25 | $214.5M | $-85.3M | ||
| Q2 25 | $257.7M | $49.4M | ||
| Q1 25 | $215.9M | $3.9M | ||
| Q4 24 | $777.5M | $61.2M | ||
| Q3 24 | $225.3M | $-26.5M | ||
| Q2 24 | $263.3M | $108.0M | ||
| Q1 24 | $191.0M | $3.9M |
| Q4 25 | 181.0% | 7.8% | ||
| Q3 25 | 44.8% | -216.3% | ||
| Q2 25 | 56.3% | 24.2% | ||
| Q1 25 | 47.0% | 0.9% | ||
| Q4 24 | 178.1% | 17.1% | ||
| Q3 24 | 50.6% | -49.7% | ||
| Q2 24 | 62.2% | 47.5% | ||
| Q1 24 | 45.1% | 0.9% |
| Q4 25 | 8.9% | 0.2% | ||
| Q3 25 | 1.8% | 0.9% | ||
| Q2 25 | 3.1% | 0.2% | ||
| Q1 25 | 1.6% | 0.6% | ||
| Q4 24 | 7.8% | 0.1% | ||
| Q3 24 | 1.9% | 0.7% | ||
| Q2 24 | 2.5% | 0.2% | ||
| Q1 24 | 2.6% | 0.0% |
| Q4 25 | 5.99× | 3.94× | ||
| Q3 25 | 1.91× | — | ||
| Q2 25 | 2.20× | — | ||
| Q1 25 | 1.74× | — | ||
| Q4 24 | 5.64× | 55.61× | ||
| Q3 24 | 2.67× | — | ||
| Q2 24 | 2.52× | 4.25× | ||
| Q1 24 | 1.58× | 0.11× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AMH
Segment breakdown not available.
MSGS
| Event Related | $167.2M | 41% |
| Media Rights | $122.3M | 30% |
| Sponsorship Signage And Suite Licenses | $98.5M | 24% |
| League Distribution | $15.4M | 4% |
