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Side-by-side financial comparison of ANI PHARMACEUTICALS INC (ANIP) 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 $247.1M, roughly 1.7× ANI PHARMACEUTICALS INC). Madison Square Garden Entertainment Corp. runs the higher net margin — 21.8% vs 11.1%, a 10.7% gap on every dollar of revenue. On growth, ANI PHARMACEUTICALS INC posted the faster year-over-year revenue change (29.6% vs 12.5%). Over the past eight quarters, Madison Square Garden Entertainment Corp.'s revenue compounded faster (48.9% CAGR vs 34.1%).
ANI Pharmaceuticals Inc is a U.S.-based specialty pharmaceutical firm that develops, manufactures and sells generic and branded prescription drugs. Its key segments cover dermatology, oncology, CNS therapies and anti-infectives, primarily serving U.S. healthcare providers, retail pharmacies and institutional medical clients.
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
ANIP vs MSGE — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $247.1M | $424.8M |
| Net Profit | $27.5M | $92.7M |
| Gross Margin | — | — |
| Operating Margin | 14.1% | 38.6% |
| Net Margin | 11.1% | 21.8% |
| Revenue YoY | 29.6% | 12.5% |
| Net Profit YoY | 367.5% | 22.2% |
| EPS (diluted) | $1.14 | $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 | $247.1M | $424.8M | ||
| Q3 25 | $227.8M | $154.1M | ||
| Q2 25 | $211.4M | $145.1M | ||
| Q1 25 | $197.1M | $206.0M | ||
| Q4 24 | $190.6M | $377.6M | ||
| Q3 24 | $148.3M | $134.1M | ||
| Q2 24 | $138.0M | $177.6M | ||
| Q1 24 | $137.4M | $191.6M |
| Q4 25 | $27.5M | $92.7M | ||
| Q3 25 | $26.6M | $-21.7M | ||
| Q2 25 | $8.5M | $-27.2M | ||
| Q1 25 | $15.7M | $8.0M | ||
| Q4 24 | $-10.3M | $75.9M | ||
| Q3 24 | $-24.2M | $-19.3M | ||
| Q2 24 | $-2.3M | $66.9M | ||
| Q1 24 | $18.2M | $2.8M |
| Q4 25 | 14.1% | 38.6% | ||
| Q3 25 | 15.9% | -19.3% | ||
| Q2 25 | 6.6% | -17.7% | ||
| Q1 25 | 13.3% | 13.3% | ||
| Q4 24 | -2.3% | 36.8% | ||
| Q3 24 | -13.8% | -13.8% | ||
| Q2 24 | 3.7% | -5.0% | ||
| Q1 24 | 14.8% | 8.8% |
| Q4 25 | 11.1% | 21.8% | ||
| Q3 25 | 11.7% | -14.0% | ||
| Q2 25 | 4.0% | -18.7% | ||
| Q1 25 | 8.0% | 3.9% | ||
| Q4 24 | -5.4% | 20.1% | ||
| Q3 24 | -16.3% | -14.4% | ||
| Q2 24 | -1.7% | 37.7% | ||
| Q1 24 | 13.2% | 1.5% |
| Q4 25 | $1.14 | $1.94 | ||
| Q3 25 | $1.13 | $-0.46 | ||
| Q2 25 | $0.36 | $-0.56 | ||
| Q1 25 | $0.69 | $0.17 | ||
| Q4 24 | $-0.45 | $1.56 | ||
| Q3 24 | $-1.27 | $-0.40 | ||
| Q2 24 | $-0.14 | $1.32 | ||
| Q1 24 | $0.82 | $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 | $285.6M | $157.1M |
| Total DebtLower is stronger | — | $554.6M |
| Stockholders' EquityBook value | $540.7M | $36.0M |
| Total Assets | $1.4B | $1.8B |
| Debt / EquityLower = less leverage | — | 15.40× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $285.6M | $157.1M | ||
| Q3 25 | $262.6M | $29.9M | ||
| Q2 25 | $217.8M | $43.0M | ||
| Q1 25 | $149.8M | $89.0M | ||
| Q4 24 | $144.9M | $54.9M | ||
| Q3 24 | $145.0M | $37.3M | ||
| Q2 24 | $240.1M | $33.3M | ||
| Q1 24 | $228.6M | $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 | $540.7M | $36.0M | ||
| Q3 25 | $505.8M | $-65.8M | ||
| Q2 25 | $436.8M | $-13.3M | ||
| Q1 25 | $418.6M | $9.5M | ||
| Q4 24 | $403.7M | $10.3M | ||
| Q3 24 | $405.9M | $-48.7M | ||
| Q2 24 | $455.8M | $-23.2M | ||
| Q1 24 | $452.0M | $-94.6M |
| Q4 25 | $1.4B | $1.8B | ||
| Q3 25 | $1.4B | $1.7B | ||
| Q2 25 | $1.3B | $1.7B | ||
| Q1 25 | $1.3B | $1.7B | ||
| Q4 24 | $1.3B | $1.6B | ||
| Q3 24 | $1.3B | $1.6B | ||
| Q2 24 | $920.8M | $1.6B | ||
| Q1 24 | $914.5M | $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 | $30.4M | $164.4M |
| Free Cash FlowOCF − Capex | $29.1M | — |
| FCF MarginFCF / Revenue | 11.8% | — |
| Capex IntensityCapex / Revenue | 0.5% | — |
| Cash ConversionOCF / Net Profit | 1.10× | 1.77× |
| TTM Free Cash FlowTrailing 4 quarters | $171.4M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $30.4M | $164.4M | ||
| Q3 25 | $44.1M | $19.8M | ||
| Q2 25 | $75.8M | $-27.0M | ||
| Q1 25 | $35.0M | $56.8M | ||
| Q4 24 | $15.9M | $112.9M | ||
| Q3 24 | $12.5M | $-27.4M | ||
| Q2 24 | $17.4M | $212.0K | ||
| Q1 24 | $18.3M | $5.8M |
| Q4 25 | $29.1M | — | ||
| Q3 25 | $38.0M | — | ||
| Q2 25 | $71.8M | — | ||
| Q1 25 | $32.5M | — | ||
| Q4 24 | $13.5M | — | ||
| Q3 24 | $7.7M | — | ||
| Q2 24 | $13.0M | — | ||
| Q1 24 | $13.7M | — |
| Q4 25 | 11.8% | — | ||
| Q3 25 | 16.7% | — | ||
| Q2 25 | 34.0% | — | ||
| Q1 25 | 16.5% | — | ||
| Q4 24 | 7.1% | — | ||
| Q3 24 | 5.2% | — | ||
| Q2 24 | 9.4% | — | ||
| Q1 24 | 10.0% | — |
| Q4 25 | 0.5% | — | ||
| Q3 25 | 2.7% | — | ||
| Q2 25 | 1.9% | — | ||
| Q1 25 | 1.3% | — | ||
| Q4 24 | 1.3% | — | ||
| Q3 24 | 3.2% | — | ||
| Q2 24 | 3.2% | — | ||
| Q1 24 | 3.3% | — |
| Q4 25 | 1.10× | 1.77× | ||
| Q3 25 | 1.66× | — | ||
| Q2 25 | 8.87× | — | ||
| Q1 25 | 2.23× | 7.07× | ||
| Q4 24 | — | 1.49× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | 1.00× | 2.08× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ANIP
| Sales Of Cortrophin Gel | $111.4M | 45% |
| Sales Of Generic Pharmaceutical Products | $100.8M | 41% |
| Sales Of ILUVIEN And YUTIQ | $19.8M | 8% |
| Sales Of Established Brands | $12.3M | 5% |
| Unapproved Products | $6.5M | 3% |
| Sales Of Royalties And Other Pharmaceutical Services | $2.7M | 1% |
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% |
