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Side-by-side financial comparison of DIVERSIFIED HEALTHCARE TRUST (DHC) 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 $379.6M, roughly 1.1× DIVERSIFIED HEALTHCARE TRUST). Madison Square Garden Entertainment Corp. runs the higher net margin — 21.8% vs -5.6%, a 27.4% gap on every dollar of revenue. On growth, Madison Square Garden Entertainment Corp. posted the faster year-over-year revenue change (12.5% vs -0.0%). Over the past eight quarters, Madison Square Garden Entertainment Corp.'s revenue compounded faster (48.9% CAGR vs 1.2%).
GE Healthcare Technologies, Inc. is an American health technology company based in Chicago, Illinois. The company, which stylizes its own name as GE HealthCare, operates four divisions: Medical imaging, which includes molecular imaging, computed tomography, magnetic resonance, women’s health screening and X-ray systems; Ultrasound; Patient Care Solutions, which is focused on remote patient monitoring, anesthesia and respiratory care, diagnostic cardiology, and infant care; and Pharmaceutical ...
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
DHC vs MSGE — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $379.6M | $424.8M |
| Net Profit | $-21.2M | $92.7M |
| Gross Margin | — | — |
| Operating Margin | -12.6% | 38.6% |
| Net Margin | -5.6% | 21.8% |
| Revenue YoY | -0.0% | 12.5% |
| Net Profit YoY | 75.7% | 22.2% |
| EPS (diluted) | $-0.09 | $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 | $379.6M | $424.8M | ||
| Q3 25 | $388.7M | $154.1M | ||
| Q2 25 | $382.7M | $145.1M | ||
| Q1 25 | $386.9M | $206.0M | ||
| Q4 24 | $379.6M | $377.6M | ||
| Q3 24 | $373.6M | $134.1M | ||
| Q2 24 | $371.4M | $177.6M | ||
| Q1 24 | $370.8M | $191.6M |
| Q4 25 | $-21.2M | $92.7M | ||
| Q3 25 | $-164.0M | $-21.7M | ||
| Q2 25 | $-91.6M | $-27.2M | ||
| Q1 25 | $-9.0M | $8.0M | ||
| Q4 24 | $-87.4M | $75.9M | ||
| Q3 24 | $-98.7M | $-19.3M | ||
| Q2 24 | $-97.9M | $66.9M | ||
| Q1 24 | $-86.3M | $2.8M |
| Q4 25 | -12.6% | 38.6% | ||
| Q3 25 | -43.4% | -19.3% | ||
| Q2 25 | -24.5% | -17.7% | ||
| Q1 25 | -2.7% | 13.3% | ||
| Q4 24 | -26.1% | 36.8% | ||
| Q3 24 | -26.5% | -13.8% | ||
| Q2 24 | -23.0% | -5.0% | ||
| Q1 24 | -23.7% | 8.8% |
| Q4 25 | -5.6% | 21.8% | ||
| Q3 25 | -42.2% | -14.0% | ||
| Q2 25 | -23.9% | -18.7% | ||
| Q1 25 | -2.3% | 3.9% | ||
| Q4 24 | -23.0% | 20.1% | ||
| Q3 24 | -26.4% | -14.4% | ||
| Q2 24 | -26.3% | 37.7% | ||
| Q1 24 | -23.3% | 1.5% |
| Q4 25 | $-0.09 | $1.94 | ||
| Q3 25 | $-0.68 | $-0.46 | ||
| Q2 25 | $-0.38 | $-0.56 | ||
| Q1 25 | $-0.04 | $0.17 | ||
| Q4 24 | $-0.37 | $1.56 | ||
| Q3 24 | $-0.41 | $-0.40 | ||
| Q2 24 | $-0.41 | $1.32 | ||
| Q1 24 | $-0.36 | $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 | $105.4M | $157.1M |
| Total DebtLower is stronger | $2.4B | $554.6M |
| Stockholders' EquityBook value | $1.7B | $36.0M |
| Total Assets | $4.4B | $1.8B |
| Debt / EquityLower = less leverage | 1.47× | 15.40× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $105.4M | $157.1M | ||
| Q3 25 | $201.4M | $29.9M | ||
| Q2 25 | $141.8M | $43.0M | ||
| Q1 25 | $302.6M | $89.0M | ||
| Q4 24 | $144.6M | $54.9M | ||
| Q3 24 | $256.5M | $37.3M | ||
| Q2 24 | $265.6M | $33.3M | ||
| Q1 24 | $207.1M | $28.0M |
| Q4 25 | $2.4B | $554.6M | ||
| Q3 25 | — | $581.7M | ||
| Q2 25 | — | $568.8M | ||
| Q1 25 | — | $577.4M | ||
| Q4 24 | $3.1B | $584.7M | ||
| Q3 24 | — | $647.0M | ||
| Q2 24 | — | $599.2M | ||
| Q1 24 | — | $602.5M |
| Q4 25 | $1.7B | $36.0M | ||
| Q3 25 | $1.7B | $-65.8M | ||
| Q2 25 | $1.9B | $-13.3M | ||
| Q1 25 | $1.9B | $9.5M | ||
| Q4 24 | $2.0B | $10.3M | ||
| Q3 24 | $2.0B | $-48.7M | ||
| Q2 24 | $2.1B | $-23.2M | ||
| Q1 24 | $2.2B | $-94.6M |
| Q4 25 | $4.4B | $1.8B | ||
| Q3 25 | $4.7B | $1.7B | ||
| Q2 25 | $4.8B | $1.7B | ||
| Q1 25 | $5.0B | $1.7B | ||
| Q4 24 | $5.1B | $1.6B | ||
| Q3 24 | $5.3B | $1.6B | ||
| Q2 24 | $5.3B | $1.6B | ||
| Q1 24 | $5.3B | $1.5B |
| Q4 25 | 1.47× | 15.40× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 60.61× | ||
| Q4 24 | 1.56× | 56.61× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $-19.6M | $164.4M |
| Free Cash FlowOCF − Capex | $-166.4M | — |
| FCF MarginFCF / Revenue | -43.8% | — |
| Capex IntensityCapex / Revenue | 38.7% | — |
| Cash ConversionOCF / Net Profit | — | 1.77× |
| TTM Free Cash FlowTrailing 4 quarters | $-280.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-19.6M | $164.4M | ||
| Q3 25 | $-49.3M | $19.8M | ||
| Q2 25 | $53.0M | $-27.0M | ||
| Q1 25 | $-3.2M | $56.8M | ||
| Q4 24 | $112.2M | $112.9M | ||
| Q3 24 | $21.1M | $-27.4M | ||
| Q2 24 | $44.3M | $212.0K | ||
| Q1 24 | $28.6M | $5.8M |
| Q4 25 | $-166.4M | — | ||
| Q3 25 | $-89.8M | — | ||
| Q2 25 | $18.8M | — | ||
| Q1 25 | $-42.9M | — | ||
| Q4 24 | $-89.5M | — | ||
| Q3 24 | $-26.1M | — | ||
| Q2 24 | $3.3M | — | ||
| Q1 24 | $-18.1M | — |
| Q4 25 | -43.8% | — | ||
| Q3 25 | -23.1% | — | ||
| Q2 25 | 4.9% | — | ||
| Q1 25 | -11.1% | — | ||
| Q4 24 | -23.6% | — | ||
| Q3 24 | -7.0% | — | ||
| Q2 24 | 0.9% | — | ||
| Q1 24 | -4.9% | — |
| Q4 25 | 38.7% | — | ||
| Q3 25 | 10.4% | — | ||
| Q2 25 | 8.9% | — | ||
| Q1 25 | 10.2% | — | ||
| Q4 24 | 53.1% | — | ||
| Q3 24 | 12.6% | — | ||
| Q2 24 | 11.0% | — | ||
| Q1 24 | 12.6% | — |
| 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
DHC
| Senior Housing Operating Portfolio Segment | $323.4M | 85% |
| Rental Income | $56.2M | 15% |
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% |
