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Side-by-side financial comparison of loanDepot, Inc. (LDI) 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 $310.3M, roughly 1.3× loanDepot, Inc.). Madison Square Garden Sports Corp. runs the higher net margin — 2.0% vs -7.2%, a 9.3% gap on every dollar of revenue. On growth, loanDepot, Inc. posted the faster year-over-year revenue change (20.5% vs 12.8%). Madison Square Garden Sports Corp. produced more free cash flow last quarter ($31.6M vs $-648.0M). Over the past eight quarters, loanDepot, Inc.'s revenue compounded faster (18.0% CAGR vs -3.1%).
LoanDepot, sometimes stylized as loanDepot, is an Irvine, California-based nonbank holding company which sells mortgage and non-mortgage lending products.
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
LDI vs MSGS — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $310.3M | $403.4M |
| Net Profit | $-22.5M | $8.2M |
| Gross Margin | — | — |
| Operating Margin | -10.3% | 5.5% |
| Net Margin | -7.2% | 2.0% |
| Revenue YoY | 20.5% | 12.8% |
| Net Profit YoY | 32.4% | 641.9% |
| EPS (diluted) | — | $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 | $310.3M | $403.4M | ||
| Q3 25 | $323.3M | $39.5M | ||
| Q2 25 | $282.5M | $204.0M | ||
| Q1 25 | $273.6M | $424.2M | ||
| Q4 24 | $257.5M | $357.8M | ||
| Q3 24 | $314.6M | $53.3M | ||
| Q2 24 | $265.4M | $227.3M | ||
| Q1 24 | $222.8M | $430.0M |
| Q4 25 | $-22.5M | $8.2M | ||
| Q3 25 | $-4.9M | $-8.8M | ||
| Q2 25 | $-13.4M | $-1.8M | ||
| Q1 25 | $-21.9M | $-14.2M | ||
| Q4 24 | $-33.2M | $1.1M | ||
| Q3 24 | $1.4M | $-7.5M | ||
| Q2 24 | $-32.2M | $25.5M | ||
| Q1 24 | $-34.3M | $37.9M |
| Q4 25 | -10.3% | 5.5% | ||
| Q3 25 | -3.2% | -69.5% | ||
| Q2 25 | -11.4% | -11.1% | ||
| Q1 25 | -16.8% | 7.6% | ||
| Q4 24 | -32.7% | 3.7% | ||
| Q3 24 | 1.1% | -15.5% | ||
| Q2 24 | -29.1% | 23.0% | ||
| Q1 24 | -38.2% | 18.5% |
| Q4 25 | -7.2% | 2.0% | ||
| Q3 25 | -1.5% | -22.3% | ||
| Q2 25 | -4.7% | -0.9% | ||
| Q1 25 | -8.0% | -3.4% | ||
| Q4 24 | -12.9% | 0.3% | ||
| Q3 24 | 0.4% | -14.1% | ||
| Q2 24 | -12.1% | 11.2% | ||
| Q1 24 | -15.4% | 8.8% |
| Q4 25 | — | $0.34 | ||
| Q3 25 | — | $-0.37 | ||
| Q2 25 | — | $-0.08 | ||
| Q1 25 | — | $-0.59 | ||
| Q4 24 | — | $0.05 | ||
| Q3 24 | $0.01 | $-0.31 | ||
| Q2 24 | $-0.18 | $1.07 | ||
| Q1 24 | $-0.19 | $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 | $337.2M | $81.3M |
| Total DebtLower is stronger | $2.1B | — |
| Stockholders' EquityBook value | $386.0M | $-282.1M |
| Total Assets | $6.9B | $1.5B |
| Debt / EquityLower = less leverage | 5.44× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $337.2M | $81.3M | ||
| Q3 25 | $459.2M | $48.6M | ||
| Q2 25 | $408.6M | $144.6M | ||
| Q1 25 | $371.5M | $96.5M | ||
| Q4 24 | $421.6M | $107.8M | ||
| Q3 24 | $483.0M | $52.3M | ||
| Q2 24 | $533.2M | $89.1M | ||
| Q1 24 | $603.7M | $40.0M |
| Q4 25 | $2.1B | — | ||
| Q3 25 | $2.1B | — | ||
| Q2 25 | $2.1B | — | ||
| Q1 25 | $2.0B | — | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | $2.0B | — | ||
| Q2 24 | $2.0B | — | ||
| Q1 24 | $2.3B | — |
| Q4 25 | $386.0M | $-282.1M | ||
| Q3 25 | $433.3M | $-294.2M | ||
| Q2 25 | $439.1M | $-281.4M | ||
| Q1 25 | $469.3M | $-283.4M | ||
| Q4 24 | $506.6M | $-273.1M | ||
| Q3 24 | $592.0M | $-277.5M | ||
| Q2 24 | $578.9M | $-266.3M | ||
| Q1 24 | $637.3M | $-294.0M |
| Q4 25 | $6.9B | $1.5B | ||
| Q3 25 | $6.2B | $1.5B | ||
| Q2 25 | $6.2B | $1.5B | ||
| Q1 25 | $6.4B | $1.5B | ||
| Q4 24 | $6.3B | $1.4B | ||
| Q3 24 | $6.4B | $1.4B | ||
| Q2 24 | $5.9B | $1.3B | ||
| Q1 24 | $6.2B | $1.4B |
| Q4 25 | 5.44× | — | ||
| Q3 25 | 4.83× | — | ||
| Q2 25 | 4.70× | — | ||
| Q1 25 | 4.30× | — | ||
| Q4 24 | 4.00× | — | ||
| Q3 24 | 3.31× | — | ||
| Q2 24 | 3.41× | — | ||
| Q1 24 | 3.63× | — |
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 | $-638.7M | $32.4M |
| Free Cash FlowOCF − Capex | $-648.0M | $31.6M |
| FCF MarginFCF / Revenue | -208.9% | 7.8% |
| Capex IntensityCapex / Revenue | 3.0% | 0.2% |
| Cash ConversionOCF / Net Profit | — | 3.94× |
| TTM Free Cash FlowTrailing 4 quarters | $-734.6M | $-480.0K |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-638.7M | $32.4M | ||
| Q3 25 | $43.4M | $-85.0M | ||
| Q2 25 | $67.6M | $49.7M | ||
| Q1 25 | $-179.9M | $6.3M | ||
| Q4 24 | $47.7M | $61.8M | ||
| Q3 24 | $-349.2M | $-26.2M | ||
| Q2 24 | $-278.3M | $108.4M | ||
| Q1 24 | $-278.5M | $4.0M |
| Q4 25 | $-648.0M | $31.6M | ||
| Q3 25 | $38.7M | $-85.3M | ||
| Q2 25 | $61.4M | $49.4M | ||
| Q1 25 | $-186.7M | $3.9M | ||
| Q4 24 | $40.8M | $61.2M | ||
| Q3 24 | $-356.4M | $-26.5M | ||
| Q2 24 | $-285.7M | $108.0M | ||
| Q1 24 | $-283.3M | $3.9M |
| Q4 25 | -208.9% | 7.8% | ||
| Q3 25 | 12.0% | -216.3% | ||
| Q2 25 | 21.7% | 24.2% | ||
| Q1 25 | -68.2% | 0.9% | ||
| Q4 24 | 15.8% | 17.1% | ||
| Q3 24 | -113.3% | -49.7% | ||
| Q2 24 | -107.7% | 47.5% | ||
| Q1 24 | -127.2% | 0.9% |
| Q4 25 | 3.0% | 0.2% | ||
| Q3 25 | 1.5% | 0.9% | ||
| Q2 25 | 2.2% | 0.2% | ||
| Q1 25 | 2.5% | 0.6% | ||
| Q4 24 | 2.7% | 0.1% | ||
| Q3 24 | 2.3% | 0.7% | ||
| Q2 24 | 2.8% | 0.2% | ||
| Q1 24 | 2.1% | 0.0% |
| Q4 25 | — | 3.94× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 55.61× | ||
| Q3 24 | -255.05× | — | ||
| Q2 24 | — | 4.25× | ||
| Q1 24 | — | 0.11× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LDI
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% |
