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Side-by-side financial comparison of CSW INDUSTRIALS, INC. (CSW) 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 $233.0M, roughly 1.8× CSW INDUSTRIALS, INC.). Madison Square Garden Entertainment Corp. runs the higher net margin — 21.8% vs 4.4%, a 17.4% gap on every dollar of revenue. On growth, CSW INDUSTRIALS, INC. posted the faster year-over-year revenue change (20.3% vs 12.5%). Over the past eight quarters, Madison Square Garden Entertainment Corp.'s revenue compounded faster (48.9% CAGR vs 5.1%).
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
CSW vs MSGE — Head-to-Head
Income Statement — Q3 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $233.0M | $424.8M |
| Net Profit | $10.3M | $92.7M |
| Gross Margin | 39.7% | — |
| Operating Margin | 7.4% | 38.6% |
| Net Margin | 4.4% | 21.8% |
| Revenue YoY | 20.3% | 12.5% |
| Net Profit YoY | -61.9% | 22.2% |
| EPS (diluted) | $0.62 | $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 | $233.0M | $424.8M | ||
| Q3 25 | $277.0M | $154.1M | ||
| Q2 25 | $263.6M | $145.1M | ||
| Q1 25 | $230.5M | $206.0M | ||
| Q4 24 | $193.6M | $377.6M | ||
| Q3 24 | $227.9M | $134.1M | ||
| Q2 24 | $226.2M | $177.6M | ||
| Q1 24 | $210.9M | $191.6M |
| Q4 25 | $10.3M | $92.7M | ||
| Q3 25 | $40.7M | $-21.7M | ||
| Q2 25 | $40.9M | $-27.2M | ||
| Q1 25 | $35.1M | $8.0M | ||
| Q4 24 | $26.9M | $75.9M | ||
| Q3 24 | $36.1M | $-19.3M | ||
| Q2 24 | $38.6M | $66.9M | ||
| Q1 24 | $31.8M | $2.8M |
| Q4 25 | 39.7% | — | ||
| Q3 25 | 43.0% | — | ||
| Q2 25 | 43.8% | — | ||
| Q1 25 | 44.2% | — | ||
| Q4 24 | 41.4% | — | ||
| Q3 24 | 45.6% | — | ||
| Q2 24 | 47.5% | — | ||
| Q1 24 | 44.4% | — |
| Q4 25 | 7.4% | 38.6% | ||
| Q3 25 | 20.5% | -19.3% | ||
| Q2 25 | 20.8% | -17.7% | ||
| Q1 25 | 19.5% | 13.3% | ||
| Q4 24 | 15.3% | 36.8% | ||
| Q3 24 | 22.6% | -13.8% | ||
| Q2 24 | 24.3% | -5.0% | ||
| Q1 24 | 21.0% | 8.8% |
| Q4 25 | 4.4% | 21.8% | ||
| Q3 25 | 14.7% | -14.0% | ||
| Q2 25 | 15.5% | -18.7% | ||
| Q1 25 | 15.2% | 3.9% | ||
| Q4 24 | 13.9% | 20.1% | ||
| Q3 24 | 15.8% | -14.4% | ||
| Q2 24 | 17.1% | 37.7% | ||
| Q1 24 | 15.1% | 1.5% |
| Q4 25 | $0.62 | $1.94 | ||
| Q3 25 | $2.41 | $-0.46 | ||
| Q2 25 | $2.43 | $-0.56 | ||
| Q1 25 | $2.05 | $0.17 | ||
| Q4 24 | $1.60 | $1.56 | ||
| Q3 24 | $2.26 | $-0.40 | ||
| Q2 24 | $2.47 | $1.32 | ||
| Q1 24 | $2.03 | $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 | $40.2M | $157.1M |
| Total DebtLower is stronger | — | $554.6M |
| Stockholders' EquityBook value | $1.1B | $36.0M |
| Total Assets | $2.3B | $1.8B |
| Debt / EquityLower = less leverage | — | 15.40× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $40.2M | $157.1M | ||
| Q3 25 | $31.5M | $29.9M | ||
| Q2 25 | $38.0M | $43.0M | ||
| Q1 25 | $225.8M | $89.0M | ||
| Q4 24 | $213.8M | $54.9M | ||
| Q3 24 | $273.2M | $37.3M | ||
| Q2 24 | $18.9M | $33.3M | ||
| Q1 24 | $22.2M | $28.0M |
| Q4 25 | — | $554.6M | ||
| Q3 25 | — | $581.7M | ||
| Q2 25 | — | $568.8M | ||
| Q1 25 | $800.1M | $577.4M | ||
| Q4 24 | — | $584.7M | ||
| Q3 24 | — | $647.0M | ||
| Q2 24 | — | $599.2M | ||
| Q1 24 | $166.0M | $602.5M |
| Q4 25 | $1.1B | $36.0M | ||
| Q3 25 | $1.1B | $-65.8M | ||
| Q2 25 | $1.1B | $-13.3M | ||
| Q1 25 | $1.1B | $9.5M | ||
| Q4 24 | $1.0B | $10.3M | ||
| Q3 24 | $1.0B | $-48.7M | ||
| Q2 24 | $650.2M | $-23.2M | ||
| Q1 24 | $615.7M | $-94.6M |
| Q4 25 | $2.3B | $1.8B | ||
| Q3 25 | $1.5B | $1.7B | ||
| Q2 25 | $1.5B | $1.7B | ||
| Q1 25 | $1.4B | $1.7B | ||
| Q4 24 | $1.4B | $1.6B | ||
| Q3 24 | $1.4B | $1.6B | ||
| Q2 24 | $1.1B | $1.6B | ||
| Q1 24 | $1.0B | $1.5B |
| Q4 25 | — | 15.40× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.75× | 60.61× | ||
| Q4 24 | — | 56.61× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.27× | — |
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 | $28.9M | $164.4M |
| Free Cash FlowOCF − Capex | $22.7M | — |
| FCF MarginFCF / Revenue | 9.8% | — |
| Capex IntensityCapex / Revenue | 2.6% | — |
| Cash ConversionOCF / Net Profit | 2.81× | 1.77× |
| TTM Free Cash FlowTrailing 4 quarters | $162.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.9M | $164.4M | ||
| Q3 25 | $61.8M | $19.8M | ||
| Q2 25 | $60.6M | $-27.0M | ||
| Q1 25 | $27.3M | $56.8M | ||
| Q4 24 | $11.6M | $112.9M | ||
| Q3 24 | $66.8M | $-27.4M | ||
| Q2 24 | $62.7M | $212.0K | ||
| Q1 24 | $22.4M | $5.8M |
| Q4 25 | $22.7M | — | ||
| Q3 25 | $58.7M | — | ||
| Q2 25 | $57.7M | — | ||
| Q1 25 | $22.8M | — | ||
| Q4 24 | $8.5M | — | ||
| Q3 24 | $61.3M | — | ||
| Q2 24 | $59.6M | — | ||
| Q1 24 | $17.5M | — |
| Q4 25 | 9.8% | — | ||
| Q3 25 | 21.2% | — | ||
| Q2 25 | 21.9% | — | ||
| Q1 25 | 9.9% | — | ||
| Q4 24 | 4.4% | — | ||
| Q3 24 | 26.9% | — | ||
| Q2 24 | 26.3% | — | ||
| Q1 24 | 8.3% | — |
| Q4 25 | 2.6% | — | ||
| Q3 25 | 1.1% | — | ||
| Q2 25 | 1.1% | — | ||
| Q1 25 | 2.0% | — | ||
| Q4 24 | 1.6% | — | ||
| Q3 24 | 2.4% | — | ||
| Q2 24 | 1.4% | — | ||
| Q1 24 | 2.3% | — |
| Q4 25 | 2.81× | 1.77× | ||
| Q3 25 | 1.52× | — | ||
| Q2 25 | 1.48× | — | ||
| Q1 25 | 0.78× | 7.07× | ||
| Q4 24 | 0.43× | 1.49× | ||
| Q3 24 | 1.85× | — | ||
| Q2 24 | 1.62× | 0.00× | ||
| Q1 24 | 0.71× | 2.08× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CSW
| Contractor Solutions Segment | $166.3M | 71% |
| Specialized Reliability Solutions Segment | $38.2M | 16% |
| Engineered Building Solutions Segment | $28.5M | 12% |
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% |
