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Side-by-side financial comparison of Acushnet Holdings Corp. (GOLF) and Madison Square Garden Entertainment Corp. (MSGE). Click either name above to swap in a different company.
Acushnet Holdings Corp. is the larger business by last-quarter revenue ($477.2M vs $424.8M, roughly 1.1× Madison Square Garden Entertainment Corp.). Madison Square Garden Entertainment Corp. runs the higher net margin — 21.8% vs -7.3%, a 29.1% gap on every dollar of revenue. On growth, Madison Square Garden Entertainment Corp. posted the faster year-over-year revenue change (12.5% vs 7.2%). Over the past eight quarters, Madison Square Garden Entertainment Corp.'s revenue compounded faster (48.9% CAGR vs -17.9%).
The Acushnet Company is an American company focused on the golf market. The company operates a series of brands that manufacture golf equipment, clothing and accessories.
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
GOLF vs MSGE — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $477.2M | $424.8M |
| Net Profit | $-34.9M | $92.7M |
| Gross Margin | 44.1% | — |
| Operating Margin | -3.8% | 38.6% |
| Net Margin | -7.3% | 21.8% |
| Revenue YoY | 7.2% | 12.5% |
| Net Profit YoY | -3027.3% | 22.2% |
| EPS (diluted) | $-0.57 | $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 | $477.2M | $424.8M | ||
| Q3 25 | $657.7M | $154.1M | ||
| Q2 25 | $720.5M | $145.1M | ||
| Q1 25 | $703.4M | $206.0M | ||
| Q4 24 | $445.2M | $377.6M | ||
| Q3 24 | $620.5M | $134.1M | ||
| Q2 24 | $683.9M | $177.6M | ||
| Q1 24 | $707.6M | $191.6M |
| Q4 25 | $-34.9M | $92.7M | ||
| Q3 25 | $48.5M | $-21.7M | ||
| Q2 25 | $75.6M | $-27.2M | ||
| Q1 25 | $99.4M | $8.0M | ||
| Q4 24 | $-1.1M | $75.9M | ||
| Q3 24 | $56.2M | $-19.3M | ||
| Q2 24 | $71.4M | $66.9M | ||
| Q1 24 | $87.8M | $2.8M |
| Q4 25 | 44.1% | — | ||
| Q3 25 | 48.5% | — | ||
| Q2 25 | 49.2% | — | ||
| Q1 25 | 47.9% | — | ||
| Q4 24 | 22.6% | — | ||
| Q3 24 | 54.4% | — | ||
| Q2 24 | 54.4% | — | ||
| Q1 24 | 53.4% | — |
| Q4 25 | -3.8% | 38.6% | ||
| Q3 25 | 14.1% | -19.3% | ||
| Q2 25 | 15.2% | -17.7% | ||
| Q1 25 | 16.3% | 13.3% | ||
| Q4 24 | -1.2% | 36.8% | ||
| Q3 24 | 13.2% | -13.8% | ||
| Q2 24 | 15.5% | -5.0% | ||
| Q1 24 | 17.2% | 8.8% |
| Q4 25 | -7.3% | 21.8% | ||
| Q3 25 | 7.4% | -14.0% | ||
| Q2 25 | 10.5% | -18.7% | ||
| Q1 25 | 14.1% | 3.9% | ||
| Q4 24 | -0.3% | 20.1% | ||
| Q3 24 | 9.1% | -14.4% | ||
| Q2 24 | 10.4% | 37.7% | ||
| Q1 24 | 12.4% | 1.5% |
| Q4 25 | $-0.57 | $1.94 | ||
| Q3 25 | $0.81 | $-0.46 | ||
| Q2 25 | $1.25 | $-0.56 | ||
| Q1 25 | $1.62 | $0.17 | ||
| Q4 24 | $0.02 | $1.56 | ||
| Q3 24 | $0.89 | $-0.40 | ||
| Q2 24 | $1.11 | $1.32 | ||
| Q1 24 | $1.35 | $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 | $926.2M | $554.6M |
| Stockholders' EquityBook value | $783.6M | $36.0M |
| Total Assets | $2.3B | $1.8B |
| Debt / EquityLower = less leverage | 1.18× | 15.40× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $157.1M | ||
| Q3 25 | — | $29.9M | ||
| Q2 25 | — | $43.0M | ||
| Q1 25 | — | $89.0M | ||
| Q4 24 | — | $54.9M | ||
| Q3 24 | — | $37.3M | ||
| Q2 24 | — | $33.3M | ||
| Q1 24 | — | $28.0M |
| Q4 25 | $926.2M | $554.6M | ||
| Q3 25 | — | $581.7M | ||
| Q2 25 | — | $568.8M | ||
| Q1 25 | — | $577.4M | ||
| Q4 24 | $753.1M | $584.7M | ||
| Q3 24 | — | $647.0M | ||
| Q2 24 | — | $599.2M | ||
| Q1 24 | — | $602.5M |
| Q4 25 | $783.6M | $36.0M | ||
| Q3 25 | $852.3M | $-65.8M | ||
| Q2 25 | $808.5M | $-13.3M | ||
| Q1 25 | $780.3M | $9.5M | ||
| Q4 24 | $765.2M | $10.3M | ||
| Q3 24 | $863.9M | $-48.7M | ||
| Q2 24 | $863.7M | $-23.2M | ||
| Q1 24 | $883.7M | $-94.6M |
| Q4 25 | $2.3B | $1.8B | ||
| Q3 25 | $2.4B | $1.7B | ||
| Q2 25 | $2.4B | $1.7B | ||
| Q1 25 | $2.4B | $1.7B | ||
| Q4 24 | $2.2B | $1.6B | ||
| Q3 24 | $2.3B | $1.6B | ||
| Q2 24 | $2.3B | $1.6B | ||
| Q1 24 | $2.4B | $1.5B |
| Q4 25 | 1.18× | 15.40× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 60.61× | ||
| Q4 24 | 0.98× | 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 | $-338.0K | $164.4M |
| Free Cash FlowOCF − Capex | $-23.3M | — |
| FCF MarginFCF / Revenue | -4.9% | — |
| Capex IntensityCapex / Revenue | 4.8% | — |
| Cash ConversionOCF / Net Profit | — | 1.77× |
| TTM Free Cash FlowTrailing 4 quarters | $120.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-338.0K | $164.4M | ||
| Q3 25 | $163.1M | $19.8M | ||
| Q2 25 | $151.9M | $-27.0M | ||
| Q1 25 | $-120.3M | $56.8M | ||
| Q4 24 | $-1.1M | $112.9M | ||
| Q3 24 | $144.1M | $-27.4M | ||
| Q2 24 | $211.6M | $212.0K | ||
| Q1 24 | $-109.5M | $5.8M |
| Q4 25 | $-23.3M | — | ||
| Q3 25 | $136.9M | — | ||
| Q2 25 | $138.0M | — | ||
| Q1 25 | $-131.5M | — | ||
| Q4 24 | $-33.2M | — | ||
| Q3 24 | $123.7M | — | ||
| Q2 24 | $196.8M | — | ||
| Q1 24 | $-116.8M | — |
| Q4 25 | -4.9% | — | ||
| Q3 25 | 20.8% | — | ||
| Q2 25 | 19.2% | — | ||
| Q1 25 | -18.7% | — | ||
| Q4 24 | -7.5% | — | ||
| Q3 24 | 19.9% | — | ||
| Q2 24 | 28.8% | — | ||
| Q1 24 | -16.5% | — |
| Q4 25 | 4.8% | — | ||
| Q3 25 | 4.0% | — | ||
| Q2 25 | 1.9% | — | ||
| Q1 25 | 1.6% | — | ||
| Q4 24 | 7.2% | — | ||
| Q3 24 | 3.3% | — | ||
| Q2 24 | 2.2% | — | ||
| Q1 24 | 1.0% | — |
| Q4 25 | — | 1.77× | ||
| Q3 25 | 3.36× | — | ||
| Q2 25 | 2.01× | — | ||
| Q1 25 | -1.21× | 7.07× | ||
| Q4 24 | — | 1.49× | ||
| Q3 24 | 2.56× | — | ||
| Q2 24 | 2.96× | 0.00× | ||
| Q1 24 | -1.25× | 2.08× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GOLF
| Titleist Golf Equipment | $293.8M | 62% |
| Footjoy Golf Wear | $102.0M | 21% |
| Other | $45.3M | 9% |
| Golf Gear | $36.1M | 8% |
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% |
