vs
Side-by-side financial comparison of Dayforce (DAY) and Madison Square Garden Sports Corp. (MSGS). Click either name above to swap in a different company.
Dayforce is the larger business by last-quarter revenue ($481.6M vs $403.4M, roughly 1.2× Madison Square Garden Sports Corp.). Madison Square Garden Sports Corp. runs the higher net margin — 2.0% vs -40.9%, a 42.9% gap on every dollar of revenue. On growth, Madison Square Garden Sports Corp. posted the faster year-over-year revenue change (12.8% vs 9.5%). Over the past eight quarters, Dayforce's revenue compounded faster (9.8% CAGR vs -3.1%).
Dayforce, Inc., formerly Ceridian, is an American human resources software and services company.
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
DAY vs MSGS — Head-to-Head
Income Statement — Q3 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $481.6M | $403.4M |
| Net Profit | $-196.8M | $8.2M |
| Gross Margin | — | — |
| Operating Margin | 6.3% | 5.5% |
| Net Margin | -40.9% | 2.0% |
| Revenue YoY | 9.5% | 12.8% |
| Net Profit YoY | -9940.0% | 641.9% |
| EPS (diluted) | $-1.23 | $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 | — | $403.4M | ||
| Q3 25 | $481.6M | $39.5M | ||
| Q2 25 | $464.7M | $204.0M | ||
| Q1 25 | $481.8M | $424.2M | ||
| Q4 24 | $465.2M | $357.8M | ||
| Q3 24 | $440.0M | $53.3M | ||
| Q2 24 | $423.3M | $227.3M | ||
| Q1 24 | $431.5M | $430.0M |
| Q4 25 | — | $8.2M | ||
| Q3 25 | $-196.8M | $-8.8M | ||
| Q2 25 | $21.3M | $-1.8M | ||
| Q1 25 | $14.9M | $-14.2M | ||
| Q4 24 | $10.8M | $1.1M | ||
| Q3 24 | $2.0M | $-7.5M | ||
| Q2 24 | $-1.8M | $25.5M | ||
| Q1 24 | $7.1M | $37.9M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 47.0% | — | ||
| Q3 24 | 45.8% | — | ||
| Q2 24 | 44.1% | — | ||
| Q1 24 | 47.6% | — |
| Q4 25 | — | 5.5% | ||
| Q3 25 | 6.3% | -69.5% | ||
| Q2 25 | 9.1% | -11.1% | ||
| Q1 25 | 6.4% | 7.6% | ||
| Q4 24 | 6.1% | 3.7% | ||
| Q3 24 | 4.7% | -15.5% | ||
| Q2 24 | 3.3% | 23.0% | ||
| Q1 24 | 9.4% | 18.5% |
| Q4 25 | — | 2.0% | ||
| Q3 25 | -40.9% | -22.3% | ||
| Q2 25 | 4.6% | -0.9% | ||
| Q1 25 | 3.1% | -3.4% | ||
| Q4 24 | 2.3% | 0.3% | ||
| Q3 24 | 0.5% | -14.1% | ||
| Q2 24 | -0.4% | 11.2% | ||
| Q1 24 | 1.6% | 8.8% |
| Q4 25 | — | $0.34 | ||
| Q3 25 | $-1.23 | $-0.37 | ||
| Q2 25 | $0.13 | $-0.08 | ||
| Q1 25 | $0.09 | $-0.59 | ||
| Q4 24 | $0.07 | $0.05 | ||
| Q3 24 | $0.01 | $-0.31 | ||
| Q2 24 | $-0.01 | $1.07 | ||
| Q1 24 | $0.04 | $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 | $627.6M | $81.3M |
| Total DebtLower is stronger | $631.1M | — |
| Stockholders' EquityBook value | $2.7B | $-282.1M |
| Total Assets | $8.7B | $1.5B |
| Debt / EquityLower = less leverage | 0.23× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $81.3M | ||
| Q3 25 | $627.6M | $48.6M | ||
| Q2 25 | $625.2M | $144.6M | ||
| Q1 25 | $557.3M | $96.5M | ||
| Q4 24 | $579.7M | $107.8M | ||
| Q3 24 | $494.1M | $52.3M | ||
| Q2 24 | $465.4M | $89.1M | ||
| Q1 24 | $392.5M | $40.0M |
| Q4 25 | — | — | ||
| Q3 25 | $631.1M | — | ||
| Q2 25 | $631.8M | — | ||
| Q1 25 | $632.4M | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.2B | — | ||
| Q1 24 | $1.2B | — |
| Q4 25 | — | $-282.1M | ||
| Q3 25 | $2.7B | $-294.2M | ||
| Q2 25 | $2.7B | $-281.4M | ||
| Q1 25 | $2.6B | $-283.4M | ||
| Q4 24 | $2.5B | $-273.1M | ||
| Q3 24 | $2.6B | $-277.5M | ||
| Q2 24 | $2.5B | $-266.3M | ||
| Q1 24 | $2.4B | $-294.0M |
| Q4 25 | — | $1.5B | ||
| Q3 25 | $8.7B | $1.5B | ||
| Q2 25 | $8.5B | $1.5B | ||
| Q1 25 | $9.5B | $1.5B | ||
| Q4 24 | $9.1B | $1.4B | ||
| Q3 24 | $8.1B | $1.4B | ||
| Q2 24 | $9.0B | $1.3B | ||
| Q1 24 | $10.8B | $1.4B |
| Q4 25 | — | — | ||
| Q3 25 | 0.23× | — | ||
| Q2 25 | 0.23× | — | ||
| Q1 25 | 0.24× | — | ||
| Q4 24 | 0.47× | — | ||
| Q3 24 | 0.47× | — | ||
| Q2 24 | 0.49× | — | ||
| Q1 24 | 0.50× | — |
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 | $31.2M | $32.4M |
| Free Cash FlowOCF − Capex | — | $31.6M |
| FCF MarginFCF / Revenue | — | 7.8% |
| Capex IntensityCapex / Revenue | — | 0.2% |
| Cash ConversionOCF / Net Profit | — | 3.94× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-480.0K |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $32.4M | ||
| Q3 25 | $31.2M | $-85.0M | ||
| Q2 25 | $112.7M | $49.7M | ||
| Q1 25 | $49.6M | $6.3M | ||
| Q4 24 | $81.0M | $61.8M | ||
| Q3 24 | $91.8M | $-26.2M | ||
| Q2 24 | $99.2M | $108.4M | ||
| Q1 24 | $9.1M | $4.0M |
| 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 24 | — | $3.9M |
| 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 24 | — | 0.9% |
| 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 24 | — | 0.0% |
| Q4 25 | — | 3.94× | ||
| Q3 25 | — | — | ||
| Q2 25 | 5.29× | — | ||
| Q1 25 | 3.33× | — | ||
| Q4 24 | 7.50× | 55.61× | ||
| Q3 24 | 45.90× | — | ||
| Q2 24 | — | 4.25× | ||
| Q1 24 | 1.28× | 0.11× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DAY
| Dayforce Recurring | $333.0M | 69% |
| Cloud And Bureau Professional Services And Other | $78.5M | 16% |
| Float | $42.2M | 9% |
| Powerpay Recurring | $19.7M | 4% |
| Other Recurring | $8.2M | 2% |
MSGS
| Event Related | $167.2M | 41% |
| Media Rights | $122.3M | 30% |
| Sponsorship Signage And Suite Licenses | $98.5M | 24% |
| League Distribution | $15.4M | 4% |
