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Side-by-side financial comparison of ANI PHARMACEUTICALS INC (ANIP) 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 $247.1M, roughly 1.6× ANI PHARMACEUTICALS INC). ANI PHARMACEUTICALS INC runs the higher net margin — 11.1% vs 2.0%, a 9.1% gap on every dollar of revenue. On growth, ANI PHARMACEUTICALS INC posted the faster year-over-year revenue change (29.6% vs 12.8%). Madison Square Garden Sports Corp. produced more free cash flow last quarter ($31.6M vs $29.1M). Over the past eight quarters, ANI PHARMACEUTICALS INC's revenue compounded faster (34.1% CAGR vs -3.1%).
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 MSGS — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $247.1M | $403.4M |
| Net Profit | $27.5M | $8.2M |
| Gross Margin | — | — |
| Operating Margin | 14.1% | 5.5% |
| Net Margin | 11.1% | 2.0% |
| Revenue YoY | 29.6% | 12.8% |
| Net Profit YoY | 367.5% | 641.9% |
| EPS (diluted) | $1.14 | $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 | $247.1M | $403.4M | ||
| Q3 25 | $227.8M | $39.5M | ||
| Q2 25 | $211.4M | $204.0M | ||
| Q1 25 | $197.1M | $424.2M | ||
| Q4 24 | $190.6M | $357.8M | ||
| Q3 24 | $148.3M | $53.3M | ||
| Q2 24 | $138.0M | $227.3M | ||
| Q1 24 | $137.4M | $430.0M |
| Q4 25 | $27.5M | $8.2M | ||
| Q3 25 | $26.6M | $-8.8M | ||
| Q2 25 | $8.5M | $-1.8M | ||
| Q1 25 | $15.7M | $-14.2M | ||
| Q4 24 | $-10.3M | $1.1M | ||
| Q3 24 | $-24.2M | $-7.5M | ||
| Q2 24 | $-2.3M | $25.5M | ||
| Q1 24 | $18.2M | $37.9M |
| Q4 25 | 14.1% | 5.5% | ||
| Q3 25 | 15.9% | -69.5% | ||
| Q2 25 | 6.6% | -11.1% | ||
| Q1 25 | 13.3% | 7.6% | ||
| Q4 24 | -2.3% | 3.7% | ||
| Q3 24 | -13.8% | -15.5% | ||
| Q2 24 | 3.7% | 23.0% | ||
| Q1 24 | 14.8% | 18.5% |
| Q4 25 | 11.1% | 2.0% | ||
| Q3 25 | 11.7% | -22.3% | ||
| Q2 25 | 4.0% | -0.9% | ||
| Q1 25 | 8.0% | -3.4% | ||
| Q4 24 | -5.4% | 0.3% | ||
| Q3 24 | -16.3% | -14.1% | ||
| Q2 24 | -1.7% | 11.2% | ||
| Q1 24 | 13.2% | 8.8% |
| Q4 25 | $1.14 | $0.34 | ||
| Q3 25 | $1.13 | $-0.37 | ||
| Q2 25 | $0.36 | $-0.08 | ||
| Q1 25 | $0.69 | $-0.59 | ||
| Q4 24 | $-0.45 | $0.05 | ||
| Q3 24 | $-1.27 | $-0.31 | ||
| Q2 24 | $-0.14 | $1.07 | ||
| Q1 24 | $0.82 | $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 | $285.6M | $81.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $540.7M | $-282.1M |
| Total Assets | $1.4B | $1.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $285.6M | $81.3M | ||
| Q3 25 | $262.6M | $48.6M | ||
| Q2 25 | $217.8M | $144.6M | ||
| Q1 25 | $149.8M | $96.5M | ||
| Q4 24 | $144.9M | $107.8M | ||
| Q3 24 | $145.0M | $52.3M | ||
| Q2 24 | $240.1M | $89.1M | ||
| Q1 24 | $228.6M | $40.0M |
| Q4 25 | $540.7M | $-282.1M | ||
| Q3 25 | $505.8M | $-294.2M | ||
| Q2 25 | $436.8M | $-281.4M | ||
| Q1 25 | $418.6M | $-283.4M | ||
| Q4 24 | $403.7M | $-273.1M | ||
| Q3 24 | $405.9M | $-277.5M | ||
| Q2 24 | $455.8M | $-266.3M | ||
| Q1 24 | $452.0M | $-294.0M |
| Q4 25 | $1.4B | $1.5B | ||
| Q3 25 | $1.4B | $1.5B | ||
| Q2 25 | $1.3B | $1.5B | ||
| Q1 25 | $1.3B | $1.5B | ||
| Q4 24 | $1.3B | $1.4B | ||
| Q3 24 | $1.3B | $1.4B | ||
| Q2 24 | $920.8M | $1.3B | ||
| Q1 24 | $914.5M | $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 | $30.4M | $32.4M |
| Free Cash FlowOCF − Capex | $29.1M | $31.6M |
| FCF MarginFCF / Revenue | 11.8% | 7.8% |
| Capex IntensityCapex / Revenue | 0.5% | 0.2% |
| Cash ConversionOCF / Net Profit | 1.10× | 3.94× |
| TTM Free Cash FlowTrailing 4 quarters | $171.4M | $-480.0K |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $30.4M | $32.4M | ||
| Q3 25 | $44.1M | $-85.0M | ||
| Q2 25 | $75.8M | $49.7M | ||
| Q1 25 | $35.0M | $6.3M | ||
| Q4 24 | $15.9M | $61.8M | ||
| Q3 24 | $12.5M | $-26.2M | ||
| Q2 24 | $17.4M | $108.4M | ||
| Q1 24 | $18.3M | $4.0M |
| Q4 25 | $29.1M | $31.6M | ||
| Q3 25 | $38.0M | $-85.3M | ||
| Q2 25 | $71.8M | $49.4M | ||
| Q1 25 | $32.5M | $3.9M | ||
| Q4 24 | $13.5M | $61.2M | ||
| Q3 24 | $7.7M | $-26.5M | ||
| Q2 24 | $13.0M | $108.0M | ||
| Q1 24 | $13.7M | $3.9M |
| Q4 25 | 11.8% | 7.8% | ||
| Q3 25 | 16.7% | -216.3% | ||
| Q2 25 | 34.0% | 24.2% | ||
| Q1 25 | 16.5% | 0.9% | ||
| Q4 24 | 7.1% | 17.1% | ||
| Q3 24 | 5.2% | -49.7% | ||
| Q2 24 | 9.4% | 47.5% | ||
| Q1 24 | 10.0% | 0.9% |
| Q4 25 | 0.5% | 0.2% | ||
| Q3 25 | 2.7% | 0.9% | ||
| Q2 25 | 1.9% | 0.2% | ||
| Q1 25 | 1.3% | 0.6% | ||
| Q4 24 | 1.3% | 0.1% | ||
| Q3 24 | 3.2% | 0.7% | ||
| Q2 24 | 3.2% | 0.2% | ||
| Q1 24 | 3.3% | 0.0% |
| Q4 25 | 1.10× | 3.94× | ||
| Q3 25 | 1.66× | — | ||
| Q2 25 | 8.87× | — | ||
| Q1 25 | 2.23× | — | ||
| Q4 24 | — | 55.61× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 4.25× | ||
| Q1 24 | 1.00× | 0.11× |
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% |
MSGS
| Event Related | $167.2M | 41% |
| Media Rights | $122.3M | 30% |
| Sponsorship Signage And Suite Licenses | $98.5M | 24% |
| League Distribution | $15.4M | 4% |
