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Side-by-side financial comparison of Global-E Online Ltd. (GLBE) and Madison Square Garden Sports Corp. (MSGS). Click either name above to swap in a different company.
Global-E Online Ltd. is the larger business by last-quarter revenue ($625.5M vs $403.4M, roughly 1.6× Madison Square Garden Sports Corp.). Madison Square Garden Sports Corp. runs the higher net margin — 2.0% vs 0.9%, a 1.1% gap on every dollar of revenue.
Global-E Online Ltd. operates a leading cross-border e-commerce enablement platform that helps direct-to-consumer brands and retail enterprises expand their international sales reach. It offers end-to-end services including localized checkout, payment processing, customs clearance, logistics coordination, and duty calculation, serving clients across North America, Europe, and the Asia-Pacific region.
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
GLBE vs MSGS — Head-to-Head
Income Statement — Q3 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $625.5M | $403.4M |
| Net Profit | $5.8M | $8.2M |
| Gross Margin | 45.0% | — |
| Operating Margin | 1.3% | 5.5% |
| Net Margin | 0.9% | 2.0% |
| Revenue YoY | — | 12.8% |
| Net Profit YoY | — | 641.9% |
| EPS (diluted) | — | $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 | $625.5M | $39.5M | ||
| Q2 25 | $404.8M | $204.0M | ||
| Q1 25 | $189.9M | $424.2M | ||
| Q4 24 | — | $357.8M | ||
| Q3 24 | $489.9M | $53.3M | ||
| Q2 24 | $313.9M | $227.3M | ||
| Q1 24 | $145.9M | $430.0M |
| Q4 25 | — | $8.2M | ||
| Q3 25 | $5.8M | $-8.8M | ||
| Q2 25 | $-7.4M | $-1.8M | ||
| Q1 25 | — | $-14.2M | ||
| Q4 24 | — | $1.1M | ||
| Q3 24 | $-77.1M | $-7.5M | ||
| Q2 24 | $-54.5M | $25.5M | ||
| Q1 24 | — | $37.9M |
| Q4 25 | — | — | ||
| Q3 25 | 45.0% | — | ||
| Q2 25 | 44.9% | — | ||
| Q1 25 | 44.3% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 45.1% | — | ||
| Q2 24 | 44.8% | — | ||
| Q1 24 | 43.4% | — |
| Q4 25 | — | 5.5% | ||
| Q3 25 | 1.3% | -69.5% | ||
| Q2 25 | -2.1% | -11.1% | ||
| Q1 25 | -10.1% | 7.6% | ||
| Q4 24 | — | 3.7% | ||
| Q3 24 | -14.9% | -15.5% | ||
| Q2 24 | -16.6% | 23.0% | ||
| Q1 24 | -20.1% | 18.5% |
| Q4 25 | — | 2.0% | ||
| Q3 25 | 0.9% | -22.3% | ||
| Q2 25 | -1.8% | -0.9% | ||
| Q1 25 | — | -3.4% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | -15.7% | -14.1% | ||
| Q2 24 | -17.4% | 11.2% | ||
| Q1 24 | — | 8.8% |
| Q4 25 | — | $0.34 | ||
| Q3 25 | — | $-0.37 | ||
| Q2 25 | — | $-0.08 | ||
| Q1 25 | — | $-0.59 | ||
| Q4 24 | — | $0.05 | ||
| Q3 24 | — | $-0.31 | ||
| Q2 24 | — | $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 | $251.4M | $81.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $933.0M | $-282.1M |
| Total Assets | $1.3B | $1.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $81.3M | ||
| Q3 25 | $251.4M | $48.6M | ||
| Q2 25 | $205.2M | $144.6M | ||
| Q1 25 | $207.7M | $96.5M | ||
| Q4 24 | — | $107.8M | ||
| Q3 24 | $207.3M | $52.3M | ||
| Q2 24 | $229.8M | $89.1M | ||
| Q1 24 | $181.9M | $40.0M |
| Q4 25 | — | $-282.1M | ||
| Q3 25 | $933.0M | $-294.2M | ||
| Q2 25 | $909.1M | $-281.4M | ||
| Q1 25 | $884.3M | $-283.4M | ||
| Q4 24 | — | $-273.1M | ||
| Q3 24 | $869.4M | $-277.5M | ||
| Q2 24 | $878.7M | $-266.3M | ||
| Q1 24 | $886.9M | $-294.0M |
| Q4 25 | — | $1.5B | ||
| Q3 25 | $1.3B | $1.5B | ||
| Q2 25 | $1.2B | $1.5B | ||
| Q1 25 | $1.2B | $1.5B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | $1.2B | $1.4B | ||
| Q2 24 | $1.1B | $1.3B | ||
| Q1 24 | $1.1B | $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 | — | $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 | — | $-85.0M | ||
| Q2 25 | — | $49.7M | ||
| Q1 25 | — | $6.3M | ||
| Q4 24 | — | $61.8M | ||
| Q3 24 | — | $-26.2M | ||
| Q2 24 | — | $108.4M | ||
| Q1 24 | — | $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 | — | — | ||
| 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
GLBE
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% |
