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Side-by-side financial comparison of Brixmor Property Group Inc. (BRX) 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 $354.8M, roughly 1.1× Brixmor Property Group Inc.). Brixmor Property Group Inc. runs the higher net margin — 36.0% vs 2.0%, a 34.0% gap on every dollar of revenue. On growth, Madison Square Garden Sports Corp. posted the faster year-over-year revenue change (12.8% vs 5.1%). Over the past eight quarters, Brixmor Property Group Inc.'s revenue compounded faster (6.0% CAGR vs -3.1%).
Brixmor Property Group is a publicly traded real estate investment trust that invests in shopping centers.
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
BRX vs MSGS — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $354.8M | $403.4M |
| Net Profit | $127.8M | $8.2M |
| Gross Margin | — | — |
| Operating Margin | 37.8% | 5.5% |
| Net Margin | 36.0% | 2.0% |
| Revenue YoY | 5.1% | 12.8% |
| Net Profit YoY | 83.2% | 641.9% |
| EPS (diluted) | $0.41 | $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.
| Q1 26 | $354.8M | — | ||
| Q4 25 | $353.8M | $403.4M | ||
| Q3 25 | $340.8M | $39.5M | ||
| Q2 25 | $339.5M | $204.0M | ||
| Q1 25 | $337.5M | $424.2M | ||
| Q4 24 | $328.4M | $357.8M | ||
| Q3 24 | $320.7M | $53.3M | ||
| Q2 24 | $315.7M | $227.3M |
| Q1 26 | $127.8M | — | ||
| Q4 25 | $137.1M | $8.2M | ||
| Q3 25 | $94.2M | $-8.8M | ||
| Q2 25 | $85.1M | $-1.8M | ||
| Q1 25 | $69.7M | $-14.2M | ||
| Q4 24 | $83.4M | $1.1M | ||
| Q3 24 | $96.8M | $-7.5M | ||
| Q2 24 | $70.1M | $25.5M |
| Q1 26 | 37.8% | — | ||
| 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 26 | 36.0% | — | ||
| Q4 25 | 38.8% | 2.0% | ||
| Q3 25 | 27.6% | -22.3% | ||
| Q2 25 | 25.1% | -0.9% | ||
| Q1 25 | 20.7% | -3.4% | ||
| Q4 24 | 25.4% | 0.3% | ||
| Q3 24 | 30.2% | -14.1% | ||
| Q2 24 | 22.2% | 11.2% |
| Q1 26 | $0.41 | — | ||
| Q4 25 | $0.43 | $0.34 | ||
| Q3 25 | $0.31 | $-0.37 | ||
| Q2 25 | $0.28 | $-0.08 | ||
| Q1 25 | $0.23 | $-0.59 | ||
| Q4 24 | $0.27 | $0.05 | ||
| Q3 24 | $0.32 | $-0.31 | ||
| Q2 24 | $0.23 | $1.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $323.9M | $81.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.0B | $-282.1M |
| Total Assets | $9.1B | $1.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $323.9M | — | ||
| Q4 25 | $334.4M | $81.3M | ||
| Q3 25 | $331.5M | $48.6M | ||
| Q2 25 | $105.0M | $144.6M | ||
| Q1 25 | $106.5M | $96.5M | ||
| Q4 24 | $377.6M | $107.8M | ||
| Q3 24 | $451.3M | $52.3M | ||
| Q2 24 | $473.6M | $89.1M |
| Q1 26 | — | — | ||
| Q4 25 | $5.5B | — | ||
| Q3 25 | $5.5B | — | ||
| Q2 25 | $5.1B | — | ||
| Q1 25 | $5.1B | — | ||
| Q4 24 | $5.3B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $3.0B | — | ||
| Q4 25 | $3.0B | $-282.1M | ||
| Q3 25 | $3.0B | $-294.2M | ||
| Q2 25 | $3.0B | $-281.4M | ||
| Q1 25 | $3.0B | $-283.4M | ||
| Q4 24 | $3.0B | $-273.1M | ||
| Q3 24 | $2.9B | $-277.5M | ||
| Q2 24 | $2.9B | $-266.3M |
| Q1 26 | $9.1B | — | ||
| Q4 25 | $9.1B | $1.5B | ||
| Q3 25 | $9.0B | $1.5B | ||
| Q2 25 | $8.6B | $1.5B | ||
| Q1 25 | $8.6B | $1.5B | ||
| Q4 24 | $8.9B | $1.4B | ||
| Q3 24 | $8.7B | $1.4B | ||
| Q2 24 | $8.7B | $1.3B |
| Q1 26 | — | — | ||
| Q4 25 | 1.83× | — | ||
| Q3 25 | 1.85× | — | ||
| Q2 25 | 1.73× | — | ||
| Q1 25 | 1.73× | — | ||
| Q4 24 | 1.79× | — | ||
| Q3 24 | — | — | ||
| Q2 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 | — | $32.4M |
| Free Cash FlowOCF − Capex | — | $31.6M |
| FCF MarginFCF / Revenue | — | 7.8% |
| Capex IntensityCapex / Revenue | 3.4% | 0.2% |
| Cash ConversionOCF / Net Profit | — | 3.94× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-480.0K |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $652.0M | $32.4M | ||
| Q3 25 | $168.3M | $-85.0M | ||
| Q2 25 | $181.5M | $49.7M | ||
| Q1 25 | $130.1M | $6.3M | ||
| Q4 24 | $624.7M | $61.8M | ||
| Q3 24 | $157.5M | $-26.2M | ||
| Q2 24 | $183.5M | $108.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | $31.6M | ||
| Q3 25 | — | $-85.3M | ||
| Q2 25 | — | $49.4M | ||
| Q1 25 | — | $3.9M | ||
| Q4 24 | — | $61.2M | ||
| Q3 24 | — | $-26.5M | ||
| Q2 24 | — | $108.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 7.8% | ||
| Q3 25 | — | -216.3% | ||
| Q2 25 | — | 24.2% | ||
| Q1 25 | — | 0.9% | ||
| Q4 24 | — | 17.1% | ||
| Q3 24 | — | -49.7% | ||
| Q2 24 | — | 47.5% |
| Q1 26 | 3.4% | — | ||
| Q4 25 | — | 0.2% | ||
| Q3 25 | — | 0.9% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.6% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | — | 0.7% | ||
| Q2 24 | — | 0.2% |
| Q1 26 | — | — | ||
| Q4 25 | 4.75× | 3.94× | ||
| Q3 25 | 1.79× | — | ||
| Q2 25 | 2.13× | — | ||
| Q1 25 | 1.87× | — | ||
| Q4 24 | 7.49× | 55.61× | ||
| Q3 24 | 1.63× | — | ||
| Q2 24 | 2.62× | 4.25× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BRX
| Rental income | $354.3M | 100% |
| Other revenues | $482.0K | 0% |
MSGS
| Event Related | $167.2M | 41% |
| Media Rights | $122.3M | 30% |
| Sponsorship Signage And Suite Licenses | $98.5M | 24% |
| League Distribution | $15.4M | 4% |
