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Side-by-side financial comparison of Claritev Corp (CTEV) 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 $246.6M, roughly 1.7× Claritev Corp). Madison Square Garden Entertainment Corp. runs the higher net margin — 21.8% vs -32.7%, a 54.5% gap on every dollar of revenue. On growth, Madison Square Garden Entertainment Corp. posted the faster year-over-year revenue change (12.5% vs 6.2%). Over the past eight quarters, Madison Square Garden Entertainment Corp.'s revenue compounded faster (48.9% CAGR vs 2.5%).
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
CTEV vs MSGE — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $246.6M | $424.8M |
| Net Profit | $-80.6M | $92.7M |
| Gross Margin | — | — |
| Operating Margin | -3.1% | 38.6% |
| Net Margin | -32.7% | 21.8% |
| Revenue YoY | 6.2% | 12.5% |
| Net Profit YoY | 41.6% | 22.2% |
| EPS (diluted) | $-4.88 | $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 | $246.6M | $424.8M | ||
| Q3 25 | $246.0M | $154.1M | ||
| Q2 25 | $241.6M | $145.1M | ||
| Q1 25 | $231.3M | $206.0M | ||
| Q4 24 | $232.1M | $377.6M | ||
| Q3 24 | $230.5M | $134.1M | ||
| Q2 24 | $233.5M | $177.6M | ||
| Q1 24 | $234.5M | $191.6M |
| Q4 25 | $-80.6M | $92.7M | ||
| Q3 25 | $-69.8M | $-21.7M | ||
| Q2 25 | $-62.6M | $-27.2M | ||
| Q1 25 | $-71.3M | $8.0M | ||
| Q4 24 | $-138.0M | $75.9M | ||
| Q3 24 | $-391.4M | $-19.3M | ||
| Q2 24 | $-576.7M | $66.9M | ||
| Q1 24 | $-539.7M | $2.8M |
| Q4 25 | -3.1% | 38.6% | ||
| Q3 25 | 4.1% | -19.3% | ||
| Q2 25 | 6.9% | -17.7% | ||
| Q1 25 | 4.2% | 13.3% | ||
| Q4 24 | -17.8% | 36.8% | ||
| Q3 24 | -146.7% | -13.8% | ||
| Q2 24 | -224.4% | -5.0% | ||
| Q1 24 | -207.4% | 8.8% |
| Q4 25 | -32.7% | 21.8% | ||
| Q3 25 | -28.4% | -14.0% | ||
| Q2 25 | -25.9% | -18.7% | ||
| Q1 25 | -30.8% | 3.9% | ||
| Q4 24 | -59.4% | 20.1% | ||
| Q3 24 | -169.8% | -14.4% | ||
| Q2 24 | -247.0% | 37.7% | ||
| Q1 24 | -230.1% | 1.5% |
| Q4 25 | $-4.88 | $1.94 | ||
| Q3 25 | $-4.23 | $-0.46 | ||
| Q2 25 | $-3.81 | $-0.56 | ||
| Q1 25 | $-4.38 | $0.17 | ||
| Q4 24 | $-8.49 | $1.56 | ||
| Q3 24 | $-24.25 | $-0.40 | ||
| Q2 24 | $-35.78 | $1.32 | ||
| Q1 24 | $-33.40 | $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 | $16.8M | $157.1M |
| Total DebtLower is stronger | $4.6B | $554.6M |
| Stockholders' EquityBook value | $-173.9M | $36.0M |
| Total Assets | $4.9B | $1.8B |
| Debt / EquityLower = less leverage | — | 15.40× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $16.8M | $157.1M | ||
| Q3 25 | $39.2M | $29.9M | ||
| Q2 25 | $56.4M | $43.0M | ||
| Q1 25 | $23.1M | $89.0M | ||
| Q4 24 | $16.8M | $54.9M | ||
| Q3 24 | $86.6M | $37.3M | ||
| Q2 24 | $48.8M | $33.3M | ||
| Q1 24 | $58.7M | $28.0M |
| Q4 25 | $4.6B | $554.6M | ||
| Q3 25 | $4.5B | $581.7M | ||
| Q2 25 | $4.5B | $568.8M | ||
| Q1 25 | $4.5B | $577.4M | ||
| Q4 24 | $4.5B | $584.7M | ||
| Q3 24 | $4.5B | $647.0M | ||
| Q2 24 | $4.5B | $599.2M | ||
| Q1 24 | $4.5B | $602.5M |
| Q4 25 | $-173.9M | $36.0M | ||
| Q3 25 | $-101.8M | $-65.8M | ||
| Q2 25 | $-39.9M | $-13.3M | ||
| Q1 25 | $14.8M | $9.5M | ||
| Q4 24 | $84.0M | $10.3M | ||
| Q3 24 | $207.6M | $-48.7M | ||
| Q2 24 | $603.4M | $-23.2M | ||
| Q1 24 | $1.2B | $-94.6M |
| Q4 25 | $4.9B | $1.8B | ||
| Q3 25 | $5.0B | $1.7B | ||
| Q2 25 | $5.1B | $1.7B | ||
| Q1 25 | $5.1B | $1.7B | ||
| Q4 24 | $5.2B | $1.6B | ||
| Q3 24 | $5.3B | $1.6B | ||
| Q2 24 | $5.7B | $1.6B | ||
| Q1 24 | $6.4B | $1.5B |
| Q4 25 | — | 15.40× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 304.87× | 60.61× | ||
| Q4 24 | 53.67× | 56.61× | ||
| Q3 24 | 21.73× | — | ||
| Q2 24 | 7.48× | — | ||
| Q1 24 | 3.85× | — |
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 | $66.3M | $164.4M |
| Free Cash FlowOCF − Capex | $36.4M | — |
| FCF MarginFCF / Revenue | 14.8% | — |
| Capex IntensityCapex / Revenue | 12.1% | — |
| Cash ConversionOCF / Net Profit | — | 1.77× |
| TTM Free Cash FlowTrailing 4 quarters | $-12.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.3M | $164.4M | ||
| Q3 25 | $19.9M | $19.8M | ||
| Q2 25 | $61.2M | $-27.0M | ||
| Q1 25 | $-30.1M | $56.8M | ||
| Q4 24 | $-33.4M | $112.9M | ||
| Q3 24 | $72.8M | $-27.4M | ||
| Q2 24 | $18.5M | $212.0K | ||
| Q1 24 | $49.7M | $5.8M |
| Q4 25 | $36.4M | — | ||
| Q3 25 | $-16.3M | — | ||
| Q2 25 | $36.6M | — | ||
| Q1 25 | $-68.9M | — | ||
| Q4 24 | $-63.8M | — | ||
| Q3 24 | $41.1M | — | ||
| Q2 24 | $-7.0M | — | ||
| Q1 24 | $19.2M | — |
| Q4 25 | 14.8% | — | ||
| Q3 25 | -6.6% | — | ||
| Q2 25 | 15.2% | — | ||
| Q1 25 | -29.8% | — | ||
| Q4 24 | -27.5% | — | ||
| Q3 24 | 17.8% | — | ||
| Q2 24 | -3.0% | — | ||
| Q1 24 | 8.2% | — |
| Q4 25 | 12.1% | — | ||
| Q3 25 | 14.7% | — | ||
| Q2 25 | 10.2% | — | ||
| Q1 25 | 16.8% | — | ||
| Q4 24 | 13.1% | — | ||
| Q3 24 | 13.8% | — | ||
| Q2 24 | 10.9% | — | ||
| Q1 24 | 13.0% | — |
| Q4 25 | — | 1.77× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 7.07× | ||
| Q4 24 | — | 1.49× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | 2.08× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CTEV
Segment breakdown not available.
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% |
