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Side-by-side financial comparison of International General Insurance Holdings Ltd. (IGIC) 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 $403.8M, roughly 1.1× International General Insurance Holdings Ltd.). International General Insurance Holdings Ltd. runs the higher net margin — 26.0% vs 21.8%, a 4.2% gap on every dollar of revenue.
China Taiping Insurance Holdings Company Limited (CTIH) formerly China Insurance International Holdings Company Limited (CIIH), is a Chinese insurance conglomerate. The company has strong Chinese Central Government background despite being incorporated in Hong Kong. It is considered as a red chip company.
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
IGIC vs MSGE — Head-to-Head
Income Statement — Q3 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $403.8M | $424.8M |
| Net Profit | $105.1M | $92.7M |
| Gross Margin | — | — |
| Operating Margin | — | 38.6% |
| Net Margin | 26.0% | 21.8% |
| Revenue YoY | — | 12.5% |
| Net Profit YoY | — | 22.2% |
| EPS (diluted) | $2.31 | $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 | — | $424.8M | ||
| Q3 25 | $403.8M | $154.1M | ||
| Q2 25 | $261.9M | $145.1M | ||
| Q1 25 | — | $206.0M | ||
| Q4 24 | — | $377.6M | ||
| Q3 24 | $369.6M | $134.1M | ||
| Q2 24 | $265.8M | $177.6M | ||
| Q1 24 | — | $191.6M |
| Q4 25 | — | $92.7M | ||
| Q3 25 | $105.1M | $-21.7M | ||
| Q2 25 | $61.4M | $-27.2M | ||
| Q1 25 | — | $8.0M | ||
| Q4 24 | — | $75.9M | ||
| Q3 24 | $-134.4M | $-19.3M | ||
| Q2 24 | $70.7M | $66.9M | ||
| Q1 24 | — | $2.8M |
| Q4 25 | — | 38.6% | ||
| Q3 25 | — | -19.3% | ||
| Q2 25 | 24.2% | -17.7% | ||
| Q1 25 | — | 13.3% | ||
| Q4 24 | — | 36.8% | ||
| Q3 24 | — | -13.8% | ||
| Q2 24 | -73.3% | -5.0% | ||
| Q1 24 | — | 8.8% |
| Q4 25 | — | 21.8% | ||
| Q3 25 | 26.0% | -14.0% | ||
| Q2 25 | 23.5% | -18.7% | ||
| Q1 25 | — | 3.9% | ||
| Q4 24 | — | 20.1% | ||
| Q3 24 | -36.4% | -14.4% | ||
| Q2 24 | 26.6% | 37.7% | ||
| Q1 24 | — | 1.5% |
| Q4 25 | — | $1.94 | ||
| Q3 25 | $2.31 | $-0.46 | ||
| Q2 25 | $1.36 | $-0.56 | ||
| Q1 25 | — | $0.17 | ||
| Q4 24 | — | $1.56 | ||
| Q3 24 | $1.82 | $-0.40 | ||
| Q2 24 | $1.55 | $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 | $244.7M | $157.1M |
| Total DebtLower is stronger | — | $554.6M |
| Stockholders' EquityBook value | $654.8M | $36.0M |
| Total Assets | $2.0B | $1.8B |
| Debt / EquityLower = less leverage | — | 15.40× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $157.1M | ||
| Q3 25 | $244.7M | $29.9M | ||
| Q2 25 | $164.8M | $43.0M | ||
| Q1 25 | — | $89.0M | ||
| Q4 24 | — | $54.9M | ||
| Q3 24 | $219.2M | $37.3M | ||
| Q2 24 | $237.3M | $33.3M | ||
| Q1 24 | — | $28.0M |
| Q4 25 | — | $554.6M | ||
| Q3 25 | — | $581.7M | ||
| Q2 25 | — | $568.8M | ||
| Q1 25 | — | $577.4M | ||
| Q4 24 | — | $584.7M | ||
| Q3 24 | — | $647.0M | ||
| Q2 24 | — | $599.2M | ||
| Q1 24 | — | $602.5M |
| Q4 25 | — | $36.0M | ||
| Q3 25 | $654.8M | $-65.8M | ||
| Q2 25 | $662.3M | $-13.3M | ||
| Q1 25 | — | $9.5M | ||
| Q4 24 | — | $10.3M | ||
| Q3 24 | $540.5M | $-48.7M | ||
| Q2 24 | $588.2M | $-23.2M | ||
| Q1 24 | — | $-94.6M |
| Q4 25 | — | $1.8B | ||
| Q3 25 | $2.0B | $1.7B | ||
| Q2 25 | $2.1B | $1.7B | ||
| Q1 25 | — | $1.7B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | $1.8B | $1.6B | ||
| Q2 24 | $2.0B | $1.6B | ||
| Q1 24 | — | $1.5B |
| Q4 25 | — | 15.40× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 60.61× | ||
| Q4 24 | — | 56.61× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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 | — | $164.4M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 1.77× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $164.4M | ||
| Q3 25 | — | $19.8M | ||
| Q2 25 | $27.2M | $-27.0M | ||
| Q1 25 | — | $56.8M | ||
| Q4 24 | — | $112.9M | ||
| Q3 24 | — | $-27.4M | ||
| Q2 24 | $120.7M | $212.0K | ||
| Q1 24 | — | $5.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $26.8M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $119.8M | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 10.2% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 45.1% | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.2% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.3% | — | ||
| Q1 24 | — | — |
| Q4 25 | — | 1.77× | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.44× | — | ||
| Q1 25 | — | 7.07× | ||
| Q4 24 | — | 1.49× | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.71× | 0.00× | ||
| Q1 24 | — | 2.08× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IGIC
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% |
