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Side-by-side financial comparison of FOX FACTORY HOLDING CORP (FOXF) 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 $376.4M, roughly 1.1× FOX FACTORY HOLDING CORP). Madison Square Garden Entertainment Corp. runs the higher net margin — 21.8% vs -0.2%, a 22.0% gap on every dollar of revenue. On growth, Madison Square Garden Entertainment Corp. posted the faster year-over-year revenue change (12.5% vs 4.8%). Over the past eight quarters, Madison Square Garden Entertainment Corp.'s revenue compounded faster (48.9% CAGR vs 6.4%).
Fox Factory Holding Corp. is an American company best known for their Fox Racing Shox brand of off-road racing suspension components.
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
FOXF vs MSGE — Head-to-Head
Income Statement — Q3 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $376.4M | $424.8M |
| Net Profit | $-634.0K | $92.7M |
| Gross Margin | 30.4% | — |
| Operating Margin | 4.0% | 38.6% |
| Net Margin | -0.2% | 21.8% |
| Revenue YoY | 4.8% | 12.5% |
| Net Profit YoY | -113.3% | 22.2% |
| EPS (diluted) | $-0.02 | $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 | $376.4M | $424.8M | ||
| Q3 25 | $374.9M | $154.1M | ||
| Q2 25 | $355.0M | $145.1M | ||
| Q1 25 | $352.8M | $206.0M | ||
| Q4 24 | — | $377.6M | ||
| Q3 24 | $359.1M | $134.1M | ||
| Q2 24 | $348.5M | $177.6M | ||
| Q1 24 | $333.5M | $191.6M |
| Q4 25 | $-634.0K | $92.7M | ||
| Q3 25 | $2.7M | $-21.7M | ||
| Q2 25 | $-259.7M | $-27.2M | ||
| Q1 25 | $-141.0K | $8.0M | ||
| Q4 24 | — | $75.9M | ||
| Q3 24 | $4.8M | $-19.3M | ||
| Q2 24 | $5.4M | $66.9M | ||
| Q1 24 | $-3.5M | $2.8M |
| Q4 25 | 30.4% | — | ||
| Q3 25 | 31.2% | — | ||
| Q2 25 | 30.9% | — | ||
| Q1 25 | 28.9% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 29.9% | — | ||
| Q2 24 | 31.8% | — | ||
| Q1 24 | 30.9% | — |
| Q4 25 | 4.0% | 38.6% | ||
| Q3 25 | 4.9% | -19.3% | ||
| Q2 25 | -70.6% | -17.7% | ||
| Q1 25 | 3.2% | 13.3% | ||
| Q4 24 | — | 36.8% | ||
| Q3 24 | 5.2% | -13.8% | ||
| Q2 24 | 5.3% | -5.0% | ||
| Q1 24 | 2.7% | 8.8% |
| Q4 25 | -0.2% | 21.8% | ||
| Q3 25 | 0.7% | -14.0% | ||
| Q2 25 | -73.1% | -18.7% | ||
| Q1 25 | -0.0% | 3.9% | ||
| Q4 24 | — | 20.1% | ||
| Q3 24 | 1.3% | -14.4% | ||
| Q2 24 | 1.6% | 37.7% | ||
| Q1 24 | -1.0% | 1.5% |
| Q4 25 | $-0.02 | $1.94 | ||
| Q3 25 | $0.07 | $-0.46 | ||
| Q2 25 | $-6.23 | $-0.56 | ||
| Q1 25 | $0.00 | $0.17 | ||
| Q4 24 | — | $1.56 | ||
| Q3 24 | $0.11 | $-0.40 | ||
| Q2 24 | $0.13 | $1.32 | ||
| Q1 24 | $-0.08 | $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 | — | $157.1M |
| Total DebtLower is stronger | $536.7M | $554.6M |
| Stockholders' EquityBook value | $956.0M | $36.0M |
| Total Assets | $2.0B | $1.8B |
| Debt / EquityLower = less leverage | 0.56× | 15.40× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $157.1M | ||
| Q3 25 | — | $29.9M | ||
| Q2 25 | — | $43.0M | ||
| Q1 25 | $71.7M | $89.0M | ||
| Q4 24 | — | $54.9M | ||
| Q3 24 | — | $37.3M | ||
| Q2 24 | — | $33.3M | ||
| Q1 24 | — | $28.0M |
| Q4 25 | $536.7M | $554.6M | ||
| Q3 25 | $541.8M | $581.7M | ||
| Q2 25 | $546.9M | $568.8M | ||
| Q1 25 | $552.1M | $577.4M | ||
| Q4 24 | — | $584.7M | ||
| Q3 24 | $558.4M | $647.0M | ||
| Q2 24 | $564.1M | $599.2M | ||
| Q1 24 | $370.4M | $602.5M |
| Q4 25 | $956.0M | $36.0M | ||
| Q3 25 | $958.7M | $-65.8M | ||
| Q2 25 | $939.9M | $-13.3M | ||
| Q1 25 | $1.2B | $9.5M | ||
| Q4 24 | — | $10.3M | ||
| Q3 24 | $1.2B | $-48.7M | ||
| Q2 24 | $1.2B | $-23.2M | ||
| Q1 24 | $1.2B | $-94.6M |
| Q4 25 | $2.0B | $1.8B | ||
| Q3 25 | $2.0B | $1.7B | ||
| Q2 25 | $1.9B | $1.7B | ||
| Q1 25 | $2.2B | $1.7B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | $2.3B | $1.6B | ||
| Q2 24 | $2.3B | $1.6B | ||
| Q1 24 | $2.2B | $1.5B |
| Q4 25 | 0.56× | 15.40× | ||
| Q3 25 | 0.57× | — | ||
| Q2 25 | 0.58× | — | ||
| Q1 25 | 0.46× | 60.61× | ||
| Q4 24 | — | 56.61× | ||
| Q3 24 | 0.47× | — | ||
| Q2 24 | 0.47× | — | ||
| Q1 24 | 0.31× | — |
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 | $5.3M | $164.4M |
| Free Cash FlowOCF − Capex | $-2.5M | — |
| FCF MarginFCF / Revenue | -0.7% | — |
| Capex IntensityCapex / Revenue | 2.1% | — |
| Cash ConversionOCF / Net Profit | — | 1.77× |
| TTM Free Cash FlowTrailing 4 quarters | $85.4M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.3M | $164.4M | ||
| Q3 25 | $36.8M | $19.8M | ||
| Q2 25 | $680.0K | $-27.0M | ||
| Q1 25 | $81.7M | $56.8M | ||
| Q4 24 | — | $112.9M | ||
| Q3 24 | $14.1M | $-27.4M | ||
| Q2 24 | $26.7M | $212.0K | ||
| Q1 24 | $9.4M | $5.8M |
| Q4 25 | $-2.5M | — | ||
| Q3 25 | $24.6M | — | ||
| Q2 25 | $-6.5M | — | ||
| Q1 25 | $69.8M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $3.2M | — | ||
| Q2 24 | $15.4M | — | ||
| Q1 24 | $-555.0K | — |
| Q4 25 | -0.7% | — | ||
| Q3 25 | 6.6% | — | ||
| Q2 25 | -1.8% | — | ||
| Q1 25 | 19.8% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.9% | — | ||
| Q2 24 | 4.4% | — | ||
| Q1 24 | -0.2% | — |
| Q4 25 | 2.1% | — | ||
| Q3 25 | 3.3% | — | ||
| Q2 25 | 2.0% | — | ||
| Q1 25 | 3.4% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.0% | — | ||
| Q2 24 | 3.2% | — | ||
| Q1 24 | 3.0% | — |
| Q4 25 | — | 1.77× | ||
| Q3 25 | 13.41× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 7.07× | ||
| Q4 24 | — | 1.49× | ||
| Q3 24 | 2.94× | — | ||
| Q2 24 | 4.94× | 0.00× | ||
| Q1 24 | — | 2.08× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FOXF
| Specialty Sports Group | $132.7M | 35% |
| Powered Vehicles Group | $125.9M | 33% |
| Aftermarket Applications Group | $117.8M | 31% |
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% |
