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Side-by-side financial comparison of DIVERSIFIED HEALTHCARE TRUST (DHC) 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 $379.6M, roughly 1.1× DIVERSIFIED HEALTHCARE TRUST). Madison Square Garden Sports Corp. runs the higher net margin — 2.0% vs -5.6%, a 7.6% gap on every dollar of revenue. On growth, Madison Square Garden Sports Corp. posted the faster year-over-year revenue change (12.8% vs -0.0%). Madison Square Garden Sports Corp. produced more free cash flow last quarter ($31.6M vs $-166.4M). Over the past eight quarters, DIVERSIFIED HEALTHCARE TRUST's revenue compounded faster (1.2% CAGR vs -3.1%).
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 MSGS — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $379.6M | $403.4M |
| Net Profit | $-21.2M | $8.2M |
| Gross Margin | — | — |
| Operating Margin | -12.6% | 5.5% |
| Net Margin | -5.6% | 2.0% |
| Revenue YoY | -0.0% | 12.8% |
| Net Profit YoY | 75.7% | 641.9% |
| EPS (diluted) | $-0.09 | $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 | $379.6M | $403.4M | ||
| Q3 25 | $388.7M | $39.5M | ||
| Q2 25 | $382.7M | $204.0M | ||
| Q1 25 | $386.9M | $424.2M | ||
| Q4 24 | $379.6M | $357.8M | ||
| Q3 24 | $373.6M | $53.3M | ||
| Q2 24 | $371.4M | $227.3M | ||
| Q1 24 | $370.8M | $430.0M |
| Q4 25 | $-21.2M | $8.2M | ||
| Q3 25 | $-164.0M | $-8.8M | ||
| Q2 25 | $-91.6M | $-1.8M | ||
| Q1 25 | $-9.0M | $-14.2M | ||
| Q4 24 | $-87.4M | $1.1M | ||
| Q3 24 | $-98.7M | $-7.5M | ||
| Q2 24 | $-97.9M | $25.5M | ||
| Q1 24 | $-86.3M | $37.9M |
| Q4 25 | -12.6% | 5.5% | ||
| Q3 25 | -43.4% | -69.5% | ||
| Q2 25 | -24.5% | -11.1% | ||
| Q1 25 | -2.7% | 7.6% | ||
| Q4 24 | -26.1% | 3.7% | ||
| Q3 24 | -26.5% | -15.5% | ||
| Q2 24 | -23.0% | 23.0% | ||
| Q1 24 | -23.7% | 18.5% |
| Q4 25 | -5.6% | 2.0% | ||
| Q3 25 | -42.2% | -22.3% | ||
| Q2 25 | -23.9% | -0.9% | ||
| Q1 25 | -2.3% | -3.4% | ||
| Q4 24 | -23.0% | 0.3% | ||
| Q3 24 | -26.4% | -14.1% | ||
| Q2 24 | -26.3% | 11.2% | ||
| Q1 24 | -23.3% | 8.8% |
| Q4 25 | $-0.09 | $0.34 | ||
| Q3 25 | $-0.68 | $-0.37 | ||
| Q2 25 | $-0.38 | $-0.08 | ||
| Q1 25 | $-0.04 | $-0.59 | ||
| Q4 24 | $-0.37 | $0.05 | ||
| Q3 24 | $-0.41 | $-0.31 | ||
| Q2 24 | $-0.41 | $1.07 | ||
| Q1 24 | $-0.36 | $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 | $105.4M | $81.3M |
| Total DebtLower is stronger | $2.4B | — |
| Stockholders' EquityBook value | $1.7B | $-282.1M |
| Total Assets | $4.4B | $1.5B |
| Debt / EquityLower = less leverage | 1.47× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $105.4M | $81.3M | ||
| Q3 25 | $201.4M | $48.6M | ||
| Q2 25 | $141.8M | $144.6M | ||
| Q1 25 | $302.6M | $96.5M | ||
| Q4 24 | $144.6M | $107.8M | ||
| Q3 24 | $256.5M | $52.3M | ||
| Q2 24 | $265.6M | $89.1M | ||
| Q1 24 | $207.1M | $40.0M |
| Q4 25 | $2.4B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $3.1B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.7B | $-282.1M | ||
| Q3 25 | $1.7B | $-294.2M | ||
| Q2 25 | $1.9B | $-281.4M | ||
| Q1 25 | $1.9B | $-283.4M | ||
| Q4 24 | $2.0B | $-273.1M | ||
| Q3 24 | $2.0B | $-277.5M | ||
| Q2 24 | $2.1B | $-266.3M | ||
| Q1 24 | $2.2B | $-294.0M |
| Q4 25 | $4.4B | $1.5B | ||
| Q3 25 | $4.7B | $1.5B | ||
| Q2 25 | $4.8B | $1.5B | ||
| Q1 25 | $5.0B | $1.5B | ||
| Q4 24 | $5.1B | $1.4B | ||
| Q3 24 | $5.3B | $1.4B | ||
| Q2 24 | $5.3B | $1.3B | ||
| Q1 24 | $5.3B | $1.4B |
| Q4 25 | 1.47× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.56× | — | ||
| 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 | $32.4M |
| Free Cash FlowOCF − Capex | $-166.4M | $31.6M |
| FCF MarginFCF / Revenue | -43.8% | 7.8% |
| Capex IntensityCapex / Revenue | 38.7% | 0.2% |
| Cash ConversionOCF / Net Profit | — | 3.94× |
| TTM Free Cash FlowTrailing 4 quarters | $-280.3M | $-480.0K |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-19.6M | $32.4M | ||
| Q3 25 | $-49.3M | $-85.0M | ||
| Q2 25 | $53.0M | $49.7M | ||
| Q1 25 | $-3.2M | $6.3M | ||
| Q4 24 | $112.2M | $61.8M | ||
| Q3 24 | $21.1M | $-26.2M | ||
| Q2 24 | $44.3M | $108.4M | ||
| Q1 24 | $28.6M | $4.0M |
| Q4 25 | $-166.4M | $31.6M | ||
| Q3 25 | $-89.8M | $-85.3M | ||
| Q2 25 | $18.8M | $49.4M | ||
| Q1 25 | $-42.9M | $3.9M | ||
| Q4 24 | $-89.5M | $61.2M | ||
| Q3 24 | $-26.1M | $-26.5M | ||
| Q2 24 | $3.3M | $108.0M | ||
| Q1 24 | $-18.1M | $3.9M |
| Q4 25 | -43.8% | 7.8% | ||
| Q3 25 | -23.1% | -216.3% | ||
| Q2 25 | 4.9% | 24.2% | ||
| Q1 25 | -11.1% | 0.9% | ||
| Q4 24 | -23.6% | 17.1% | ||
| Q3 24 | -7.0% | -49.7% | ||
| Q2 24 | 0.9% | 47.5% | ||
| Q1 24 | -4.9% | 0.9% |
| Q4 25 | 38.7% | 0.2% | ||
| Q3 25 | 10.4% | 0.9% | ||
| Q2 25 | 8.9% | 0.2% | ||
| Q1 25 | 10.2% | 0.6% | ||
| Q4 24 | 53.1% | 0.1% | ||
| Q3 24 | 12.6% | 0.7% | ||
| Q2 24 | 11.0% | 0.2% | ||
| Q1 24 | 12.6% | 0.0% |
| Q4 25 | — | 3.94× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 55.61× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 4.25× | ||
| Q1 24 | — | 0.11× |
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% |
MSGS
| Event Related | $167.2M | 41% |
| Media Rights | $122.3M | 30% |
| Sponsorship Signage And Suite Licenses | $98.5M | 24% |
| League Distribution | $15.4M | 4% |
