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Side-by-side financial comparison of IDEX Corporation (IEX) 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 $398.4M, roughly 1.0× IDEX Corporation). IDEX Corporation runs the higher net margin — 30.1% vs 2.0%, a 28.1% gap on every dollar of revenue. On growth, IDEX Corporation posted the faster year-over-year revenue change (16.7% vs 12.8%). IDEX Corporation produced more free cash flow last quarter ($86.0M vs $31.6M). Over the past eight quarters, Madison Square Garden Sports Corp.'s revenue compounded faster (-3.1% CAGR vs -29.4%).
IDEX can refer to several things, including:International Defence Exhibition, a biennial arms and defense technology sales exhibition IDEX Corporation, a publicly listed company that makes fluidics systems and specialty engineered products Ideanomics, a publicly traded company that trades under the IDEX ticker symbol.
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
IEX vs MSGS — Head-to-Head
Income Statement — Q2 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $398.4M | $403.4M |
| Net Profit | $120.0M | $8.2M |
| Gross Margin | 99.9% | — |
| Operating Margin | 43.3% | 5.5% |
| Net Margin | 30.1% | 2.0% |
| Revenue YoY | 16.7% | 12.8% |
| Net Profit YoY | 25.7% | 641.9% |
| EPS (diluted) | $1.61 | $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.
| Q2 26 | $398.4M | — | ||
| Q1 26 | $407.7M | — | ||
| Q4 25 | $899.1M | $403.4M | ||
| Q3 25 | $878.7M | $39.5M | ||
| Q2 25 | $865.4M | $204.0M | ||
| Q1 25 | $814.3M | $424.2M | ||
| Q4 24 | $862.9M | $357.8M | ||
| Q3 24 | $798.2M | $53.3M |
| Q2 26 | $120.0M | — | ||
| Q1 26 | $128.3M | — | ||
| Q4 25 | $128.3M | $8.2M | ||
| Q3 25 | $127.8M | $-8.8M | ||
| Q2 25 | $131.6M | $-1.8M | ||
| Q1 25 | $95.5M | $-14.2M | ||
| Q4 24 | $123.2M | $1.1M | ||
| Q3 24 | $119.1M | $-7.5M |
| Q2 26 | 99.9% | — | ||
| Q1 26 | 94.9% | — | ||
| Q4 25 | 43.1% | — | ||
| Q3 25 | 44.5% | — | ||
| Q2 25 | 45.3% | — | ||
| Q1 25 | 45.3% | — | ||
| Q4 24 | 42.5% | — | ||
| Q3 24 | 44.3% | — |
| Q2 26 | 43.3% | — | ||
| Q1 26 | 45.0% | — | ||
| Q4 25 | 20.4% | 5.5% | ||
| Q3 25 | 21.1% | -69.5% | ||
| Q2 25 | 21.7% | -11.1% | ||
| Q1 25 | 17.4% | 7.6% | ||
| Q4 24 | 19.2% | 3.7% | ||
| Q3 24 | 21.0% | -15.5% |
| Q2 26 | 30.1% | — | ||
| Q1 26 | 31.5% | — | ||
| Q4 25 | 14.3% | 2.0% | ||
| Q3 25 | 14.5% | -22.3% | ||
| Q2 25 | 15.2% | -0.9% | ||
| Q1 25 | 11.7% | -3.4% | ||
| Q4 24 | 14.3% | 0.3% | ||
| Q3 24 | 14.9% | -14.1% |
| Q2 26 | $1.61 | — | ||
| Q1 26 | $1.71 | — | ||
| Q4 25 | $1.71 | $0.34 | ||
| Q3 25 | $1.70 | $-0.37 | ||
| Q2 25 | $1.74 | $-0.08 | ||
| Q1 25 | $1.26 | $-0.59 | ||
| Q4 24 | $1.61 | $0.05 | ||
| Q3 24 | $1.57 | $-0.31 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $586.2M | $81.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $4.0B | $-282.1M |
| Total Assets | $6.9B | $1.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | $586.2M | — | ||
| Q1 26 | $580.0M | — | ||
| Q4 25 | $580.0M | $81.3M | ||
| Q3 25 | $593.8M | $48.6M | ||
| Q2 25 | $568.2M | $144.6M | ||
| Q1 25 | $594.1M | $96.5M | ||
| Q4 24 | $620.8M | $107.8M | ||
| Q3 24 | $633.2M | $52.3M |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $1.9B | — | ||
| Q1 25 | $2.0B | — | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | $2.1B | — |
| Q2 26 | $4.0B | — | ||
| Q1 26 | $4.0B | — | ||
| Q4 25 | $4.0B | $-282.1M | ||
| Q3 25 | $4.0B | $-294.2M | ||
| Q2 25 | $4.0B | $-281.4M | ||
| Q1 25 | $3.9B | $-283.4M | ||
| Q4 24 | $3.8B | $-273.1M | ||
| Q3 24 | $3.8B | $-277.5M |
| Q2 26 | $6.9B | — | ||
| Q1 26 | $6.9B | — | ||
| Q4 25 | $6.9B | $1.5B | ||
| Q3 25 | $7.0B | $1.5B | ||
| Q2 25 | $6.9B | $1.5B | ||
| Q1 25 | $6.8B | $1.5B | ||
| Q4 24 | $6.7B | $1.4B | ||
| Q3 24 | $7.0B | $1.4B |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 0.45× | — | ||
| Q3 25 | 0.48× | — | ||
| Q2 25 | 0.46× | — | ||
| Q1 25 | 0.50× | — | ||
| Q4 24 | 0.52× | — | ||
| Q3 24 | 0.55× | — |
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 | $86.0M | $31.6M |
| FCF MarginFCF / Revenue | 21.6% | 7.8% |
| Capex IntensityCapex / Revenue | 4.4% | 0.2% |
| Cash ConversionOCF / Net Profit | — | 3.94× |
| TTM Free Cash FlowTrailing 4 quarters | $654.3M | $-480.0K |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | $209.5M | $32.4M | ||
| Q3 25 | $203.5M | $-85.0M | ||
| Q2 25 | $161.7M | $49.7M | ||
| Q1 25 | $105.7M | $6.3M | ||
| Q4 24 | $172.6M | $61.8M | ||
| Q3 24 | $205.3M | $-26.2M |
| Q2 26 | $86.0M | — | ||
| Q1 26 | $189.8M | — | ||
| Q4 25 | $189.8M | $31.6M | ||
| Q3 25 | $188.7M | $-85.3M | ||
| Q2 25 | $146.9M | $49.4M | ||
| Q1 25 | $91.4M | $3.9M | ||
| Q4 24 | $157.1M | $61.2M | ||
| Q3 24 | $191.6M | $-26.5M |
| Q2 26 | 21.6% | — | ||
| Q1 26 | 46.6% | — | ||
| Q4 25 | 21.1% | 7.8% | ||
| Q3 25 | 21.5% | -216.3% | ||
| Q2 25 | 17.0% | 24.2% | ||
| Q1 25 | 11.2% | 0.9% | ||
| Q4 24 | 18.2% | 17.1% | ||
| Q3 24 | 24.0% | -49.7% |
| Q2 26 | 4.4% | — | ||
| Q1 26 | 15.6% | — | ||
| Q4 25 | 2.2% | 0.2% | ||
| Q3 25 | 1.7% | 0.9% | ||
| Q2 25 | 1.7% | 0.2% | ||
| Q1 25 | 1.8% | 0.6% | ||
| Q4 24 | 1.8% | 0.1% | ||
| Q3 24 | 1.7% | 0.7% |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 1.63× | 3.94× | ||
| Q3 25 | 1.59× | — | ||
| Q2 25 | 1.23× | — | ||
| Q1 25 | 1.11× | — | ||
| Q4 24 | 1.40× | 55.61× | ||
| Q3 24 | 1.72× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IEX
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% |
