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Side-by-side financial comparison of HUTCHMED (China) Ltd (HCM) 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 $270.8M, roughly 1.5× HUTCHMED (China) Ltd). Madison Square Garden Sports Corp. runs the higher net margin — 2.0% vs 0.7%, a 1.3% gap on every dollar of revenue. On growth, Madison Square Garden Sports Corp. posted the faster year-over-year revenue change (12.8% vs -16.5%). Madison Square Garden Sports Corp. produced more free cash flow last quarter ($31.6M vs $3.4M).
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 MSGS — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $270.8M | $403.4M |
| Net Profit | $2.0M | $8.2M |
| Gross Margin | 37.7% | — |
| Operating Margin | -13.2% | 5.5% |
| Net Margin | 0.7% | 2.0% |
| Revenue YoY | -16.5% | 12.8% |
| Net Profit YoY | -83.6% | 641.9% |
| EPS (diluted) | $0.00 | $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 | $270.8M | $403.4M | ||
| Q3 25 | — | $39.5M | ||
| Q2 25 | $277.7M | $204.0M | ||
| Q1 25 | $324.5M | $424.2M | ||
| Q4 24 | — | $357.8M | ||
| Q3 24 | — | $53.3M | ||
| Q2 24 | $305.7M | $227.3M | ||
| Q1 24 | — | $430.0M |
| Q4 25 | $2.0M | $8.2M | ||
| Q3 25 | — | $-8.8M | ||
| Q2 25 | $455.0M | $-1.8M | ||
| Q1 25 | $11.9M | $-14.2M | ||
| Q4 24 | — | $1.1M | ||
| Q3 24 | — | $-7.5M | ||
| Q2 24 | $25.8M | $25.5M | ||
| Q1 24 | — | $37.9M |
| 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% | 5.5% | ||
| Q3 25 | — | -69.5% | ||
| Q2 25 | -1.3% | -11.1% | ||
| Q1 25 | -5.0% | 7.6% | ||
| Q4 24 | — | 3.7% | ||
| Q3 24 | — | -15.5% | ||
| Q2 24 | -9.0% | 23.0% | ||
| Q1 24 | — | 18.5% |
| Q4 25 | 0.7% | 2.0% | ||
| Q3 25 | — | -22.3% | ||
| Q2 25 | 163.8% | -0.9% | ||
| Q1 25 | 3.7% | -3.4% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | — | -14.1% | ||
| Q2 24 | 8.4% | 11.2% | ||
| Q1 24 | — | 8.8% |
| Q4 25 | $0.00 | $0.34 | ||
| Q3 25 | — | $-0.37 | ||
| Q2 25 | $0.52 | $-0.08 | ||
| Q1 25 | $0.01 | $-0.59 | ||
| Q4 24 | — | $0.05 | ||
| Q3 24 | — | $-0.31 | ||
| Q2 24 | $0.03 | $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 | $1.4B | $81.3M |
| Total DebtLower is stronger | $93.2M | — |
| Stockholders' EquityBook value | $1.2B | $-282.1M |
| Total Assets | $1.8B | $1.5B |
| Debt / EquityLower = less leverage | 0.08× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.4B | $81.3M | ||
| Q3 25 | — | $48.6M | ||
| Q2 25 | $1.4B | $144.6M | ||
| Q1 25 | $836.1M | $96.5M | ||
| Q4 24 | — | $107.8M | ||
| Q3 24 | — | $52.3M | ||
| Q2 24 | $802.5M | $89.1M | ||
| Q1 24 | — | $40.0M |
| Q4 25 | $93.2M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $93.4M | — | ||
| Q1 25 | $82.8M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $82.1M | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.2B | $-282.1M | ||
| Q3 25 | — | $-294.2M | ||
| Q2 25 | $1.2B | $-281.4M | ||
| Q1 25 | $759.9M | $-283.4M | ||
| Q4 24 | — | $-273.1M | ||
| Q3 24 | — | $-277.5M | ||
| Q2 24 | $740.1M | $-266.3M | ||
| Q1 24 | — | $-294.0M |
| Q4 25 | $1.8B | $1.5B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | $1.8B | $1.5B | ||
| Q1 25 | $1.3B | $1.5B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | $1.3B | $1.3B | ||
| Q1 24 | — | $1.4B |
| Q4 25 | 0.08× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.08× | — | ||
| Q1 25 | 0.11× | — | ||
| Q4 24 | — | — | ||
| 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 | $32.4M |
| Free Cash FlowOCF − Capex | $3.4M | $31.6M |
| FCF MarginFCF / Revenue | 1.2% | 7.8% |
| Capex IntensityCapex / Revenue | 1.8% | 0.2% |
| Cash ConversionOCF / Net Profit | 4.21× | 3.94× |
| TTM Free Cash FlowTrailing 4 quarters | $-96.2M | $-480.0K |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.2M | $32.4M | ||
| Q3 25 | — | $-85.0M | ||
| Q2 25 | $-72.9M | $49.7M | ||
| Q1 25 | $40.3M | $6.3M | ||
| Q4 24 | — | $61.8M | ||
| Q3 24 | — | $-26.2M | ||
| Q2 24 | $-39.8M | $108.4M | ||
| Q1 24 | — | $4.0M |
| Q4 25 | $3.4M | $31.6M | ||
| Q3 25 | — | $-85.3M | ||
| Q2 25 | $-82.2M | $49.4M | ||
| Q1 25 | $32.5M | $3.9M | ||
| Q4 24 | — | $61.2M | ||
| Q3 24 | — | $-26.5M | ||
| Q2 24 | $-49.9M | $108.0M | ||
| Q1 24 | — | $3.9M |
| Q4 25 | 1.2% | 7.8% | ||
| Q3 25 | — | -216.3% | ||
| Q2 25 | -29.6% | 24.2% | ||
| Q1 25 | 10.0% | 0.9% | ||
| Q4 24 | — | 17.1% | ||
| Q3 24 | — | -49.7% | ||
| Q2 24 | -16.3% | 47.5% | ||
| Q1 24 | — | 0.9% |
| Q4 25 | 1.8% | 0.2% | ||
| Q3 25 | — | 0.9% | ||
| Q2 25 | 3.3% | 0.2% | ||
| Q1 25 | 2.4% | 0.6% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | — | 0.7% | ||
| Q2 24 | 3.3% | 0.2% | ||
| Q1 24 | — | 0.0% |
| Q4 25 | 4.21× | 3.94× | ||
| Q3 25 | — | — | ||
| Q2 25 | -0.16× | — | ||
| Q1 25 | 3.38× | — | ||
| Q4 24 | — | 55.61× | ||
| Q3 24 | — | — | ||
| Q2 24 | -1.54× | 4.25× | ||
| Q1 24 | — | 0.11× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HCM
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% |
