vs
Side-by-side financial comparison of ECARX Holdings Inc. (ECX) 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 $323.3M, roughly 1.2× ECARX Holdings Inc.). Madison Square Garden Sports Corp. runs the higher net margin — 2.0% vs -21.4%, a 23.4% gap on every dollar of revenue. On growth, Madison Square Garden Sports Corp. posted the faster year-over-year revenue change (12.8% vs 6.5%). Madison Square Garden Sports Corp. produced more free cash flow last quarter ($31.6M vs $-86.5M).
ECARX Holdings Inc. is a global mobility technology provider specializing in integrated smart vehicle solutions, including in-vehicle infotainment systems, advanced driver assistance technologies, and connected car cloud services. It primarily partners with automotive manufacturers across the world, with a strong operational presence in the Chinese and European markets.
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
ECX vs MSGS — Head-to-Head
Income Statement — Q2 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $323.3M | $403.4M |
| Net Profit | $-69.1M | $8.2M |
| Gross Margin | 15.5% | — |
| Operating Margin | -20.2% | 5.5% |
| Net Margin | -21.4% | 2.0% |
| Revenue YoY | 6.5% | 12.8% |
| Net Profit YoY | 12.8% | 641.9% |
| EPS (diluted) | $-0.20 | $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 | — | $39.5M | ||
| Q2 25 | $323.3M | $204.0M | ||
| Q1 25 | — | $424.2M | ||
| Q4 24 | — | $357.8M | ||
| Q3 24 | — | $53.3M | ||
| Q2 24 | $303.5M | $227.3M | ||
| Q1 24 | — | $430.0M |
| Q4 25 | — | $8.2M | ||
| Q3 25 | — | $-8.8M | ||
| Q2 25 | $-69.1M | $-1.8M | ||
| Q1 25 | — | $-14.2M | ||
| Q4 24 | — | $1.1M | ||
| Q3 24 | — | $-7.5M | ||
| Q2 24 | $-79.2M | $25.5M | ||
| Q1 24 | — | $37.9M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 15.5% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 22.6% | — | ||
| Q1 24 | — | — |
| Q4 25 | — | 5.5% | ||
| Q3 25 | — | -69.5% | ||
| Q2 25 | -20.2% | -11.1% | ||
| Q1 25 | — | 7.6% | ||
| Q4 24 | — | 3.7% | ||
| Q3 24 | — | -15.5% | ||
| Q2 24 | -22.2% | 23.0% | ||
| Q1 24 | — | 18.5% |
| Q4 25 | — | 2.0% | ||
| Q3 25 | — | -22.3% | ||
| Q2 25 | -21.4% | -0.9% | ||
| Q1 25 | — | -3.4% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | — | -14.1% | ||
| Q2 24 | -26.1% | 11.2% | ||
| Q1 24 | — | 8.8% |
| Q4 25 | — | $0.34 | ||
| Q3 25 | — | $-0.37 | ||
| Q2 25 | $-0.20 | $-0.08 | ||
| Q1 25 | — | $-0.59 | ||
| Q4 24 | — | $0.05 | ||
| Q3 24 | — | $-0.31 | ||
| Q2 24 | $-0.23 | $1.07 | ||
| Q1 24 | — | $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 | $86.2M | $81.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-293.7M | $-282.1M |
| Total Assets | $494.9M | $1.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $81.3M | ||
| Q3 25 | — | $48.6M | ||
| Q2 25 | $86.2M | $144.6M | ||
| Q1 25 | — | $96.5M | ||
| Q4 24 | — | $107.8M | ||
| Q3 24 | — | $52.3M | ||
| Q2 24 | $108.4M | $89.1M | ||
| Q1 24 | — | $40.0M |
| Q4 25 | — | $-282.1M | ||
| Q3 25 | — | $-294.2M | ||
| Q2 25 | $-293.7M | $-281.4M | ||
| Q1 25 | — | $-283.4M | ||
| Q4 24 | — | $-273.1M | ||
| Q3 24 | — | $-277.5M | ||
| Q2 24 | $-198.5M | $-266.3M | ||
| Q1 24 | — | $-294.0M |
| Q4 25 | — | $1.5B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | $494.9M | $1.5B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | $555.0M | $1.3B | ||
| Q1 24 | — | $1.4B |
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 | $-82.0M | $32.4M |
| Free Cash FlowOCF − Capex | $-86.5M | $31.6M |
| FCF MarginFCF / Revenue | -26.7% | 7.8% |
| Capex IntensityCapex / Revenue | 1.4% | 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 | — | $-85.0M | ||
| Q2 25 | $-82.0M | $49.7M | ||
| Q1 25 | — | $6.3M | ||
| Q4 24 | — | $61.8M | ||
| Q3 24 | — | $-26.2M | ||
| Q2 24 | $-57.1M | $108.4M | ||
| Q1 24 | — | $4.0M |
| Q4 25 | — | $31.6M | ||
| Q3 25 | — | $-85.3M | ||
| Q2 25 | $-86.5M | $49.4M | ||
| Q1 25 | — | $3.9M | ||
| Q4 24 | — | $61.2M | ||
| Q3 24 | — | $-26.5M | ||
| Q2 24 | $-64.9M | $108.0M | ||
| Q1 24 | — | $3.9M |
| Q4 25 | — | 7.8% | ||
| Q3 25 | — | -216.3% | ||
| Q2 25 | -26.7% | 24.2% | ||
| Q1 25 | — | 0.9% | ||
| Q4 24 | — | 17.1% | ||
| Q3 24 | — | -49.7% | ||
| Q2 24 | -21.4% | 47.5% | ||
| Q1 24 | — | 0.9% |
| Q4 25 | — | 0.2% | ||
| Q3 25 | — | 0.9% | ||
| Q2 25 | 1.4% | 0.2% | ||
| Q1 25 | — | 0.6% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | — | 0.7% | ||
| Q2 24 | 2.6% | 0.2% | ||
| Q1 24 | — | 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
ECX
Segment breakdown not available.
MSGS
| Event Related | $167.2M | 41% |
| Media Rights | $122.3M | 30% |
| Sponsorship Signage And Suite Licenses | $98.5M | 24% |
| League Distribution | $15.4M | 4% |
