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Side-by-side financial comparison of Hilltop Holdings Inc. (HTH) 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 $300.5M, roughly 1.3× Hilltop Holdings Inc.). Hilltop Holdings Inc. runs the higher net margin — 13.0% vs 2.0%, a 10.9% gap on every dollar of revenue. Over the past eight quarters, Hilltop Holdings Inc.'s revenue compounded faster (0.6% CAGR vs -3.1%).
Hilltop Holdings Inc. is a financial holding company based in Dallas, Texas. It offers financial products and banking services through three primary subsidiaries: PlainsCapital Bank, PrimeLending, and HilltopSecurities.
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
HTH vs MSGS — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $300.5M | $403.4M |
| Net Profit | $39.0M | $8.2M |
| Gross Margin | — | — |
| Operating Margin | — | 5.5% |
| Net Margin | 13.0% | 2.0% |
| Revenue YoY | — | 12.8% |
| Net Profit YoY | -12.4% | 641.9% |
| EPS (diluted) | $0.64 | $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.
| Q1 26 | $300.5M | — | ||
| Q4 25 | $329.9M | $403.4M | ||
| Q3 25 | $330.2M | $39.5M | ||
| Q2 25 | $303.3M | $204.0M | ||
| Q1 25 | $318.5M | $424.2M | ||
| Q4 24 | $301.1M | $357.8M | ||
| Q3 24 | $305.5M | $53.3M | ||
| Q2 24 | $297.0M | $227.3M |
| Q1 26 | $39.0M | — | ||
| Q4 25 | $41.6M | $8.2M | ||
| Q3 25 | $45.8M | $-8.8M | ||
| Q2 25 | $36.1M | $-1.8M | ||
| Q1 25 | $42.1M | $-14.2M | ||
| Q4 24 | $35.5M | $1.1M | ||
| Q3 24 | $29.7M | $-7.5M | ||
| Q2 24 | $20.3M | $25.5M |
| Q1 26 | — | — | ||
| Q4 25 | 16.1% | 5.5% | ||
| Q3 25 | 18.4% | -69.5% | ||
| Q2 25 | 16.3% | -11.1% | ||
| Q1 25 | 18.1% | 7.6% | ||
| Q4 24 | 14.7% | 3.7% | ||
| Q3 24 | 13.9% | -15.5% | ||
| Q2 24 | 10.0% | 23.0% |
| Q1 26 | 13.0% | — | ||
| Q4 25 | 12.6% | 2.0% | ||
| Q3 25 | 13.9% | -22.3% | ||
| Q2 25 | 11.9% | -0.9% | ||
| Q1 25 | 13.2% | -3.4% | ||
| Q4 24 | 11.8% | 0.3% | ||
| Q3 24 | 9.7% | -14.1% | ||
| Q2 24 | 6.8% | 11.2% |
| Q1 26 | $0.64 | — | ||
| Q4 25 | $0.68 | $0.34 | ||
| Q3 25 | $0.74 | $-0.37 | ||
| Q2 25 | $0.57 | $-0.08 | ||
| Q1 25 | $0.65 | $-0.59 | ||
| Q4 24 | $0.55 | $0.05 | ||
| Q3 24 | $0.46 | $-0.31 | ||
| Q2 24 | $0.31 | $1.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $81.3M |
| Total DebtLower is stronger | $990.8M | — |
| Stockholders' EquityBook value | $2.2B | $-282.1M |
| Total Assets | $15.7B | $1.5B |
| Debt / EquityLower = less leverage | 0.46× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $81.3M | ||
| Q3 25 | — | $48.6M | ||
| Q2 25 | — | $144.6M | ||
| Q1 25 | — | $96.5M | ||
| Q4 24 | — | $107.8M | ||
| Q3 24 | — | $52.3M | ||
| Q2 24 | — | $89.1M |
| Q1 26 | $990.8M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $2.2B | — | ||
| Q4 25 | $2.2B | $-282.1M | ||
| Q3 25 | $2.2B | $-294.2M | ||
| Q2 25 | $2.2B | $-281.4M | ||
| Q1 25 | $2.2B | $-283.4M | ||
| Q4 24 | $2.2B | $-273.1M | ||
| Q3 24 | $2.2B | $-277.5M | ||
| Q2 24 | $2.1B | $-266.3M |
| Q1 26 | $15.7B | — | ||
| Q4 25 | $15.8B | $1.5B | ||
| Q3 25 | $15.6B | $1.5B | ||
| Q2 25 | $15.4B | $1.5B | ||
| Q1 25 | $15.8B | $1.5B | ||
| Q4 24 | $16.3B | $1.4B | ||
| Q3 24 | $15.9B | $1.4B | ||
| Q2 24 | $15.6B | $1.3B |
| Q1 26 | 0.46× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 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 | — | $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.
| Q1 26 | — | — | ||
| Q4 25 | $-38.7M | $32.4M | ||
| Q3 25 | $273.0M | $-85.0M | ||
| Q2 25 | $-234.6M | $49.7M | ||
| Q1 25 | $5.8M | $6.3M | ||
| Q4 24 | $273.9M | $61.8M | ||
| Q3 24 | $515.6M | $-26.2M | ||
| Q2 24 | $-435.3M | $108.4M |
| Q1 26 | — | — | ||
| Q4 25 | $-55.5M | $31.6M | ||
| Q3 25 | $271.0M | $-85.3M | ||
| Q2 25 | $-234.6M | $49.4M | ||
| Q1 25 | $5.0M | $3.9M | ||
| Q4 24 | $266.8M | $61.2M | ||
| Q3 24 | $513.8M | $-26.5M | ||
| Q2 24 | $-437.3M | $108.0M |
| Q1 26 | — | — | ||
| Q4 25 | -16.8% | 7.8% | ||
| Q3 25 | 82.1% | -216.3% | ||
| Q2 25 | -77.4% | 24.2% | ||
| Q1 25 | 1.6% | 0.9% | ||
| Q4 24 | 88.6% | 17.1% | ||
| Q3 24 | 168.2% | -49.7% | ||
| Q2 24 | -147.2% | 47.5% |
| Q1 26 | — | — | ||
| Q4 25 | 5.1% | 0.2% | ||
| Q3 25 | 0.6% | 0.9% | ||
| Q2 25 | 0.0% | 0.2% | ||
| Q1 25 | 0.3% | 0.6% | ||
| Q4 24 | 2.4% | 0.1% | ||
| Q3 24 | 0.6% | 0.7% | ||
| Q2 24 | 0.7% | 0.2% |
| Q1 26 | — | — | ||
| Q4 25 | -0.93× | 3.94× | ||
| Q3 25 | 5.96× | — | ||
| Q2 25 | -6.50× | — | ||
| Q1 25 | 0.14× | — | ||
| Q4 24 | 7.71× | 55.61× | ||
| Q3 24 | 17.36× | — | ||
| Q2 24 | -21.41× | 4.25× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HTH
| Noninterest Income | $188.4M | 63% |
| Net Interest Income | $112.1M | 37% |
MSGS
| Event Related | $167.2M | 41% |
| Media Rights | $122.3M | 30% |
| Sponsorship Signage And Suite Licenses | $98.5M | 24% |
| League Distribution | $15.4M | 4% |
