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Side-by-side financial comparison of Installed Building Products, Inc. (IBP) and Madison Square Garden Entertainment Corp. (MSGE). Click either name above to swap in a different company.
Installed Building Products, Inc. is the larger business by last-quarter revenue ($747.5M vs $424.8M, roughly 1.8× Madison Square Garden Entertainment Corp.). Madison Square Garden Entertainment Corp. runs the higher net margin — 21.8% vs 10.2%, a 11.6% gap on every dollar of revenue. On growth, Madison Square Garden Entertainment Corp. posted the faster year-over-year revenue change (12.5% vs -0.4%). Over the past eight quarters, Madison Square Garden Entertainment Corp.'s revenue compounded faster (48.9% CAGR vs 3.9%).
Installed Building Products, Inc. is a leading US-based provider of professional installation services for building products. Core offerings include insulation, gutters, garage doors, fire protection systems and window treatments, serving residential new construction, repair & remodel, and commercial construction segments across most US regions.
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
IBP vs MSGE — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $747.5M | $424.8M |
| Net Profit | $76.6M | $92.7M |
| Gross Margin | 35.0% | — |
| Operating Margin | 14.6% | 38.6% |
| Net Margin | 10.2% | 21.8% |
| Revenue YoY | -0.4% | 12.5% |
| Net Profit YoY | 14.5% | 22.2% |
| EPS (diluted) | $2.81 | $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 | $747.5M | $424.8M | ||
| Q3 25 | $778.2M | $154.1M | ||
| Q2 25 | $760.3M | $145.1M | ||
| Q1 25 | $684.8M | $206.0M | ||
| Q4 24 | $750.2M | $377.6M | ||
| Q3 24 | $760.6M | $134.1M | ||
| Q2 24 | $737.6M | $177.6M | ||
| Q1 24 | $692.9M | $191.6M |
| Q4 25 | $76.6M | $92.7M | ||
| Q3 25 | $74.4M | $-21.7M | ||
| Q2 25 | $69.0M | $-27.2M | ||
| Q1 25 | $45.4M | $8.0M | ||
| Q4 24 | $66.9M | $75.9M | ||
| Q3 24 | $68.6M | $-19.3M | ||
| Q2 24 | $65.2M | $66.9M | ||
| Q1 24 | $55.9M | $2.8M |
| Q4 25 | 35.0% | — | ||
| Q3 25 | 34.0% | — | ||
| Q2 25 | 34.2% | — | ||
| Q1 25 | 32.7% | — | ||
| Q4 24 | 33.6% | — | ||
| Q3 24 | 33.8% | — | ||
| Q2 24 | 34.1% | — | ||
| Q1 24 | 33.8% | — |
| Q4 25 | 14.6% | 38.6% | ||
| Q3 25 | 13.7% | -19.3% | ||
| Q2 25 | 13.3% | -17.7% | ||
| Q1 25 | 10.2% | 13.3% | ||
| Q4 24 | 13.1% | 36.8% | ||
| Q3 24 | 13.3% | -13.8% | ||
| Q2 24 | 12.9% | -5.0% | ||
| Q1 24 | 12.7% | 8.8% |
| Q4 25 | 10.2% | 21.8% | ||
| Q3 25 | 9.6% | -14.0% | ||
| Q2 25 | 9.1% | -18.7% | ||
| Q1 25 | 6.6% | 3.9% | ||
| Q4 24 | 8.9% | 20.1% | ||
| Q3 24 | 9.0% | -14.4% | ||
| Q2 24 | 8.8% | 37.7% | ||
| Q1 24 | 8.1% | 1.5% |
| Q4 25 | $2.81 | $1.94 | ||
| Q3 25 | $2.74 | $-0.46 | ||
| Q2 25 | $2.52 | $-0.56 | ||
| Q1 25 | $1.64 | $0.17 | ||
| Q4 24 | $2.39 | $1.56 | ||
| Q3 24 | $2.44 | $-0.40 | ||
| Q2 24 | $2.30 | $1.32 | ||
| Q1 24 | $1.97 | $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 | $321.9M | $157.1M |
| Total DebtLower is stronger | $886.6M | $554.6M |
| Stockholders' EquityBook value | $709.9M | $36.0M |
| Total Assets | $2.1B | $1.8B |
| Debt / EquityLower = less leverage | 1.25× | 15.40× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $321.9M | $157.1M | ||
| Q3 25 | $333.3M | $29.9M | ||
| Q2 25 | $305.2M | $43.0M | ||
| Q1 25 | $298.7M | $89.0M | ||
| Q4 24 | $327.6M | $54.9M | ||
| Q3 24 | $406.2M | $37.3M | ||
| Q2 24 | $380.3M | $33.3M | ||
| Q1 24 | $399.9M | $28.0M |
| Q4 25 | $886.6M | $554.6M | ||
| Q3 25 | $880.8M | $581.7M | ||
| Q2 25 | $876.1M | $568.8M | ||
| Q1 25 | $872.4M | $577.4M | ||
| Q4 24 | $874.8M | $584.7M | ||
| Q3 24 | $872.3M | $647.0M | ||
| Q2 24 | $875.8M | $599.2M | ||
| Q1 24 | $875.0M | $602.5M |
| Q4 25 | $709.9M | $36.0M | ||
| Q3 25 | $678.6M | $-65.8M | ||
| Q2 25 | $664.5M | $-13.3M | ||
| Q1 25 | $660.9M | $9.5M | ||
| Q4 24 | $705.3M | $10.3M | ||
| Q3 24 | $716.4M | $-48.7M | ||
| Q2 24 | $685.3M | $-23.2M | ||
| Q1 24 | $679.2M | $-94.6M |
| Q4 25 | $2.1B | $1.8B | ||
| Q3 25 | $2.1B | $1.7B | ||
| Q2 25 | $2.0B | $1.7B | ||
| Q1 25 | $2.0B | $1.7B | ||
| Q4 24 | $2.1B | $1.6B | ||
| Q3 24 | $2.1B | $1.6B | ||
| Q2 24 | $2.0B | $1.6B | ||
| Q1 24 | $2.0B | $1.5B |
| Q4 25 | 1.25× | 15.40× | ||
| Q3 25 | 1.30× | — | ||
| Q2 25 | 1.32× | — | ||
| Q1 25 | 1.32× | 60.61× | ||
| Q4 24 | 1.24× | 56.61× | ||
| Q3 24 | 1.22× | — | ||
| Q2 24 | 1.28× | — | ||
| Q1 24 | 1.29× | — |
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 | $64.9M | $164.4M |
| Free Cash FlowOCF − Capex | $49.3M | — |
| FCF MarginFCF / Revenue | 6.6% | — |
| Capex IntensityCapex / Revenue | 2.1% | — |
| Cash ConversionOCF / Net Profit | 0.85× | 1.77× |
| TTM Free Cash FlowTrailing 4 quarters | $300.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $64.9M | $164.4M | ||
| Q3 25 | $124.0M | $19.8M | ||
| Q2 25 | $90.4M | $-27.0M | ||
| Q1 25 | $92.1M | $56.8M | ||
| Q4 24 | $74.8M | $112.9M | ||
| Q3 24 | $101.4M | $-27.4M | ||
| Q2 24 | $79.0M | $212.0K | ||
| Q1 24 | $84.8M | $5.8M |
| Q4 25 | $49.3M | — | ||
| Q3 25 | $104.8M | — | ||
| Q2 25 | $74.8M | — | ||
| Q1 25 | $71.9M | — | ||
| Q4 24 | $52.9M | — | ||
| Q3 24 | $77.3M | — | ||
| Q2 24 | $58.2M | — | ||
| Q1 24 | $63.0M | — |
| Q4 25 | 6.6% | — | ||
| Q3 25 | 13.5% | — | ||
| Q2 25 | 9.8% | — | ||
| Q1 25 | 10.5% | — | ||
| Q4 24 | 7.1% | — | ||
| Q3 24 | 10.2% | — | ||
| Q2 24 | 7.9% | — | ||
| Q1 24 | 9.1% | — |
| Q4 25 | 2.1% | — | ||
| Q3 25 | 2.5% | — | ||
| Q2 25 | 2.1% | — | ||
| Q1 25 | 2.9% | — | ||
| Q4 24 | 2.9% | — | ||
| Q3 24 | 3.2% | — | ||
| Q2 24 | 2.8% | — | ||
| Q1 24 | 3.1% | — |
| Q4 25 | 0.85× | 1.77× | ||
| Q3 25 | 1.67× | — | ||
| Q2 25 | 1.31× | — | ||
| Q1 25 | 2.03× | 7.07× | ||
| Q4 24 | 1.12× | 1.49× | ||
| Q3 24 | 1.48× | — | ||
| Q2 24 | 1.21× | 0.00× | ||
| Q1 24 | 1.52× | 2.08× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IBP
| Residential New Construction | $488.6M | 65% |
| Other Customer Installation | $67.8M | 9% |
| Shower Doors Shelving And Mirrors | $53.5M | 7% |
| Other Building Products | $47.7M | 6% |
| Fireproofing And Firestopping | $37.6M | 5% |
| Rain Gutters | $31.3M | 4% |
| Window Blinds | $18.0M | 2% |
| Related Party | $6.7M | 1% |
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% |
