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Side-by-side financial comparison of Innovex International, Inc. (INVX) 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 $273.6M, roughly 1.5× Innovex International, Inc.). Innovex International, Inc. runs the higher net margin — 5.1% vs 2.0%, a 3.1% gap on every dollar of revenue. On growth, Madison Square Garden Sports Corp. posted the faster year-over-year revenue change (12.8% vs 9.1%). Over the past eight quarters, Innovex International, Inc.'s revenue compounded faster (46.2% CAGR vs -3.1%).
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
INVX vs MSGS — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $273.6M | $403.4M |
| Net Profit | $14.0M | $8.2M |
| Gross Margin | 28.9% | — |
| Operating Margin | 9.4% | 5.5% |
| Net Margin | 5.1% | 2.0% |
| Revenue YoY | 9.1% | 12.8% |
| Net Profit YoY | -56.1% | 641.9% |
| EPS (diluted) | $0.20 | $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 | $273.6M | $403.4M | ||
| Q3 25 | $240.0M | $39.5M | ||
| Q2 25 | $224.2M | $204.0M | ||
| Q1 25 | $240.4M | $424.2M | ||
| Q4 24 | $250.7M | $357.8M | ||
| Q3 24 | $151.8M | $53.3M | ||
| Q2 24 | $130.3M | $227.3M | ||
| Q1 24 | $128.0M | $430.0M |
| Q4 25 | $14.0M | $8.2M | ||
| Q3 25 | $39.2M | $-8.8M | ||
| Q2 25 | $15.3M | $-1.8M | ||
| Q1 25 | $14.8M | $-14.2M | ||
| Q4 24 | $31.8M | $1.1M | ||
| Q3 24 | $82.6M | $-7.5M | ||
| Q2 24 | $9.5M | $25.5M | ||
| Q1 24 | $16.4M | $37.9M |
| Q4 25 | 28.9% | — | ||
| Q3 25 | 31.6% | — | ||
| Q2 25 | 32.0% | — | ||
| Q1 25 | 31.8% | — | ||
| Q4 24 | 33.9% | — | ||
| Q3 24 | 34.7% | — | ||
| Q2 24 | 35.3% | — | ||
| Q1 24 | 38.4% | — |
| Q4 25 | 9.4% | 5.5% | ||
| Q3 25 | 26.0% | -69.5% | ||
| Q2 25 | 10.1% | -11.1% | ||
| Q1 25 | 9.1% | 7.6% | ||
| Q4 24 | 10.7% | 3.7% | ||
| Q3 24 | -8.7% | -15.5% | ||
| Q2 24 | 10.0% | 23.0% | ||
| Q1 24 | 17.4% | 18.5% |
| Q4 25 | 5.1% | 2.0% | ||
| Q3 25 | 16.3% | -22.3% | ||
| Q2 25 | 6.8% | -0.9% | ||
| Q1 25 | 6.1% | -3.4% | ||
| Q4 24 | 12.7% | 0.3% | ||
| Q3 24 | 54.4% | -14.1% | ||
| Q2 24 | 7.3% | 11.2% | ||
| Q1 24 | 12.8% | 8.8% |
| Q4 25 | $0.20 | $0.34 | ||
| Q3 25 | $0.57 | $-0.37 | ||
| Q2 25 | $0.22 | $-0.08 | ||
| Q1 25 | $0.21 | $-0.59 | ||
| Q4 24 | $-0.03 | $0.05 | ||
| Q3 24 | $1.99 | $-0.31 | ||
| Q2 24 | $0.30 | $1.07 | ||
| Q1 24 | $0.51 | $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 | — | $81.3M |
| Total DebtLower is stronger | $18.9M | — |
| Stockholders' EquityBook value | $1.1B | $-282.1M |
| Total Assets | $1.3B | $1.5B |
| Debt / EquityLower = less leverage | 0.02× | — |
8-quarter trend — quarters aligned by calendar period.
| 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 | $185.6M | $89.1M | ||
| Q1 24 | $202.2M | $40.0M |
| Q4 25 | $18.9M | — | ||
| Q3 25 | $20.1M | — | ||
| Q2 25 | $34.8M | — | ||
| Q1 25 | $19.7M | — | ||
| Q4 24 | $24.9M | — | ||
| Q3 24 | $12.4M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.1B | $-282.1M | ||
| Q3 25 | $1.0B | $-294.2M | ||
| Q2 25 | $995.6M | $-281.4M | ||
| Q1 25 | $978.4M | $-283.4M | ||
| Q4 24 | $958.2M | $-273.1M | ||
| Q3 24 | $904.4M | $-277.5M | ||
| Q2 24 | $352.5M | $-266.3M | ||
| Q1 24 | $344.3M | $-294.0M |
| Q4 25 | $1.3B | $1.5B | ||
| Q3 25 | $1.3B | $1.5B | ||
| Q2 25 | $1.2B | $1.5B | ||
| Q1 25 | $1.2B | $1.5B | ||
| Q4 24 | $1.2B | $1.4B | ||
| Q3 24 | $1.1B | $1.4B | ||
| Q2 24 | $1.0B | $1.3B | ||
| Q1 24 | $1.0B | $1.4B |
| Q4 25 | 0.02× | — | ||
| Q3 25 | 0.02× | — | ||
| Q2 25 | 0.03× | — | ||
| Q1 25 | 0.02× | — | ||
| Q4 24 | 0.03× | — | ||
| Q3 24 | 0.01× | — | ||
| 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 | $52.2M | $32.4M |
| Free Cash FlowOCF − Capex | — | $31.6M |
| FCF MarginFCF / Revenue | — | 7.8% |
| Capex IntensityCapex / Revenue | — | 0.2% |
| Cash ConversionOCF / Net Profit | 3.74× | 3.94× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-480.0K |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $52.2M | $32.4M | ||
| Q3 25 | $48.4M | $-85.0M | ||
| Q2 25 | $59.2M | $49.7M | ||
| Q1 25 | $31.1M | $6.3M | ||
| Q4 24 | $36.3M | $61.8M | ||
| Q3 24 | $21.7M | $-26.2M | ||
| Q2 24 | $22.8M | $108.4M | ||
| Q1 24 | $12.6M | $4.0M |
| Q4 25 | — | $31.6M | ||
| Q3 25 | — | $-85.3M | ||
| Q2 25 | — | $49.4M | ||
| Q1 25 | — | $3.9M | ||
| Q4 24 | — | $61.2M | ||
| Q3 24 | — | $-26.5M | ||
| Q2 24 | $16.6M | $108.0M | ||
| Q1 24 | $7.8M | $3.9M |
| Q4 25 | — | 7.8% | ||
| Q3 25 | — | -216.3% | ||
| Q2 25 | — | 24.2% | ||
| Q1 25 | — | 0.9% | ||
| Q4 24 | — | 17.1% | ||
| Q3 24 | — | -49.7% | ||
| Q2 24 | 12.7% | 47.5% | ||
| Q1 24 | 6.1% | 0.9% |
| Q4 25 | — | 0.2% | ||
| Q3 25 | — | 0.9% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.6% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | — | 0.7% | ||
| Q2 24 | 4.7% | 0.2% | ||
| Q1 24 | 3.7% | 0.0% |
| Q4 25 | 3.74× | 3.94× | ||
| Q3 25 | 1.23× | — | ||
| Q2 25 | 3.86× | — | ||
| Q1 25 | 2.11× | — | ||
| Q4 24 | 1.14× | 55.61× | ||
| Q3 24 | 0.26× | — | ||
| Q2 24 | 2.39× | 4.25× | ||
| Q1 24 | 0.77× | 0.11× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
INVX
| Products | $202.7M | 74% |
| Leasing | $42.3M | 15% |
| Services | $28.6M | 10% |
MSGS
| Event Related | $167.2M | 41% |
| Media Rights | $122.3M | 30% |
| Sponsorship Signage And Suite Licenses | $98.5M | 24% |
| League Distribution | $15.4M | 4% |
