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Side-by-side financial comparison of HUTCHMED (China) Ltd (HCM) 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 $270.8M, roughly 1.6× HUTCHMED (China) Ltd). Madison Square Garden Entertainment Corp. runs the higher net margin — 21.8% vs 0.7%, a 21.1% gap on every dollar of revenue. On growth, Madison Square Garden Entertainment Corp. posted the faster year-over-year revenue change (12.5% vs -16.5%).
HUTCHMED (China) LtdHCMEarnings & Financial Report
HUTCHMED (China) Ltd is a biopharmaceutical firm focused on discovering, developing and commercializing targeted and immunotherapies for oncology and immunological diseases. It operates across China and global markets, with multiple marketed oncology drugs and a robust pipeline of late-stage clinical candidates addressing unmet patient needs.
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
HCM vs MSGE — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $270.8M | $424.8M |
| Net Profit | $2.0M | $92.7M |
| Gross Margin | 37.7% | — |
| Operating Margin | -13.2% | 38.6% |
| Net Margin | 0.7% | 21.8% |
| Revenue YoY | -16.5% | 12.5% |
| Net Profit YoY | -83.6% | 22.2% |
| EPS (diluted) | $0.00 | $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 | $270.8M | $424.8M | ||
| Q3 25 | — | $154.1M | ||
| Q2 25 | $277.7M | $145.1M | ||
| Q1 25 | $324.5M | $206.0M | ||
| Q4 24 | — | $377.6M | ||
| Q3 24 | — | $134.1M | ||
| Q2 24 | $305.7M | $177.6M | ||
| Q1 24 | — | $191.6M |
| Q4 25 | $2.0M | $92.7M | ||
| Q3 25 | — | $-21.7M | ||
| Q2 25 | $455.0M | $-27.2M | ||
| Q1 25 | $11.9M | $8.0M | ||
| Q4 24 | — | $75.9M | ||
| Q3 24 | — | $-19.3M | ||
| Q2 24 | $25.8M | $66.9M | ||
| Q1 24 | — | $2.8M |
| Q4 25 | 37.7% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.1% | — | ||
| Q1 25 | 48.0% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 41.1% | — | ||
| Q1 24 | — | — |
| Q4 25 | -13.2% | 38.6% | ||
| Q3 25 | — | -19.3% | ||
| Q2 25 | -1.3% | -17.7% | ||
| Q1 25 | -5.0% | 13.3% | ||
| Q4 24 | — | 36.8% | ||
| Q3 24 | — | -13.8% | ||
| Q2 24 | -9.0% | -5.0% | ||
| Q1 24 | — | 8.8% |
| Q4 25 | 0.7% | 21.8% | ||
| Q3 25 | — | -14.0% | ||
| Q2 25 | 163.8% | -18.7% | ||
| Q1 25 | 3.7% | 3.9% | ||
| Q4 24 | — | 20.1% | ||
| Q3 24 | — | -14.4% | ||
| Q2 24 | 8.4% | 37.7% | ||
| Q1 24 | — | 1.5% |
| Q4 25 | $0.00 | $1.94 | ||
| Q3 25 | — | $-0.46 | ||
| Q2 25 | $0.52 | $-0.56 | ||
| Q1 25 | $0.01 | $0.17 | ||
| Q4 24 | — | $1.56 | ||
| Q3 24 | — | $-0.40 | ||
| Q2 24 | $0.03 | $1.32 | ||
| Q1 24 | — | $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 | $1.4B | $157.1M |
| Total DebtLower is stronger | $93.2M | $554.6M |
| Stockholders' EquityBook value | $1.2B | $36.0M |
| Total Assets | $1.8B | $1.8B |
| Debt / EquityLower = less leverage | 0.08× | 15.40× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.4B | $157.1M | ||
| Q3 25 | — | $29.9M | ||
| Q2 25 | $1.4B | $43.0M | ||
| Q1 25 | $836.1M | $89.0M | ||
| Q4 24 | — | $54.9M | ||
| Q3 24 | — | $37.3M | ||
| Q2 24 | $802.5M | $33.3M | ||
| Q1 24 | — | $28.0M |
| Q4 25 | $93.2M | $554.6M | ||
| Q3 25 | — | $581.7M | ||
| Q2 25 | $93.4M | $568.8M | ||
| Q1 25 | $82.8M | $577.4M | ||
| Q4 24 | — | $584.7M | ||
| Q3 24 | — | $647.0M | ||
| Q2 24 | $82.1M | $599.2M | ||
| Q1 24 | — | $602.5M |
| Q4 25 | $1.2B | $36.0M | ||
| Q3 25 | — | $-65.8M | ||
| Q2 25 | $1.2B | $-13.3M | ||
| Q1 25 | $759.9M | $9.5M | ||
| Q4 24 | — | $10.3M | ||
| Q3 24 | — | $-48.7M | ||
| Q2 24 | $740.1M | $-23.2M | ||
| Q1 24 | — | $-94.6M |
| Q4 25 | $1.8B | $1.8B | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | $1.8B | $1.7B | ||
| Q1 25 | $1.3B | $1.7B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | — | $1.6B | ||
| Q2 24 | $1.3B | $1.6B | ||
| Q1 24 | — | $1.5B |
| Q4 25 | 0.08× | 15.40× | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.08× | — | ||
| Q1 25 | 0.11× | 60.61× | ||
| Q4 24 | — | 56.61× | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.11× | — | ||
| 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 | $8.2M | $164.4M |
| Free Cash FlowOCF − Capex | $3.4M | — |
| FCF MarginFCF / Revenue | 1.2% | — |
| Capex IntensityCapex / Revenue | 1.8% | — |
| Cash ConversionOCF / Net Profit | 4.21× | 1.77× |
| TTM Free Cash FlowTrailing 4 quarters | $-96.2M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.2M | $164.4M | ||
| Q3 25 | — | $19.8M | ||
| Q2 25 | $-72.9M | $-27.0M | ||
| Q1 25 | $40.3M | $56.8M | ||
| Q4 24 | — | $112.9M | ||
| Q3 24 | — | $-27.4M | ||
| Q2 24 | $-39.8M | $212.0K | ||
| Q1 24 | — | $5.8M |
| Q4 25 | $3.4M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $-82.2M | — | ||
| Q1 25 | $32.5M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $-49.9M | — | ||
| Q1 24 | — | — |
| Q4 25 | 1.2% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -29.6% | — | ||
| Q1 25 | 10.0% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -16.3% | — | ||
| Q1 24 | — | — |
| Q4 25 | 1.8% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 3.3% | — | ||
| Q1 25 | 2.4% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 3.3% | — | ||
| Q1 24 | — | — |
| Q4 25 | 4.21× | 1.77× | ||
| Q3 25 | — | — | ||
| Q2 25 | -0.16× | — | ||
| Q1 25 | 3.38× | 7.07× | ||
| Q4 24 | — | 1.49× | ||
| Q3 24 | — | — | ||
| Q2 24 | -1.54× | 0.00× | ||
| Q1 24 | — | 2.08× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HCM
Segment breakdown not available.
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% |
