vs
Side-by-side financial comparison of Magnera Corp (MAGN) and Madison Square Garden Entertainment Corp. (MSGE). Click either name above to swap in a different company.
Magnera Corp is the larger business by last-quarter revenue ($792.0M vs $424.8M, roughly 1.9× Madison Square Garden Entertainment Corp.). Madison Square Garden Entertainment Corp. runs the higher net margin — 21.8% vs -4.3%, a 26.1% gap on every dollar of revenue. On growth, Magnera Corp posted the faster year-over-year revenue change (12.8% vs 12.5%). Over the past eight quarters, Magnera Corp's revenue compounded faster (54.9% CAGR vs 48.9%).
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
MAGN vs MSGE — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $792.0M | $424.8M |
| Net Profit | $-34.0M | $92.7M |
| Gross Margin | 12.2% | — |
| Operating Margin | 1.8% | 38.6% |
| Net Margin | -4.3% | 21.8% |
| Revenue YoY | 12.8% | 12.5% |
| Net Profit YoY | 43.3% | 22.2% |
| EPS (diluted) | $-0.95 | $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 | $792.0M | $424.8M | ||
| Q3 25 | — | $154.1M | ||
| Q2 25 | $839.0M | $145.1M | ||
| Q1 25 | $824.0M | $206.0M | ||
| Q4 24 | $702.0M | $377.6M | ||
| Q3 24 | $332.1M | $134.1M | ||
| Q2 24 | $556.0M | $177.6M | ||
| Q1 24 | $558.0M | $191.6M |
| Q4 25 | $-34.0M | $92.7M | ||
| Q3 25 | — | $-21.7M | ||
| Q2 25 | $-18.0M | $-27.2M | ||
| Q1 25 | $-41.0M | $8.0M | ||
| Q4 24 | $-60.0M | $75.9M | ||
| Q3 24 | $-15.2M | $-19.3M | ||
| Q2 24 | $19.0M | $66.9M | ||
| Q1 24 | $14.0M | $2.8M |
| Q4 25 | 12.2% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 10.7% | — | ||
| Q1 25 | 10.7% | — | ||
| Q4 24 | 10.1% | — | ||
| Q3 24 | 10.7% | — | ||
| Q2 24 | 6.6% | — | ||
| Q1 24 | 6.2% | — |
| Q4 25 | 1.8% | 38.6% | ||
| Q3 25 | — | -19.3% | ||
| Q2 25 | 1.5% | -17.7% | ||
| Q1 25 | 0.5% | 13.3% | ||
| Q4 24 | -3.1% | 36.8% | ||
| Q3 24 | 0.9% | -13.8% | ||
| Q2 24 | 3.1% | -5.0% | ||
| Q1 24 | 3.8% | 8.8% |
| Q4 25 | -4.3% | 21.8% | ||
| Q3 25 | — | -14.0% | ||
| Q2 25 | -2.1% | -18.7% | ||
| Q1 25 | -5.0% | 3.9% | ||
| Q4 24 | -8.5% | 20.1% | ||
| Q3 24 | -4.6% | -14.4% | ||
| Q2 24 | 3.4% | 37.7% | ||
| Q1 24 | 2.5% | 1.5% |
| Q4 25 | $-0.95 | $1.94 | ||
| Q3 25 | — | $-0.46 | ||
| Q2 25 | $-0.51 | $-0.56 | ||
| Q1 25 | $-1.15 | $0.17 | ||
| Q4 24 | $-1.69 | $1.56 | ||
| Q3 24 | $-0.33 | $-0.40 | ||
| Q2 24 | $0.60 | $1.32 | ||
| Q1 24 | $0.44 | $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 | $264.0M | $157.1M |
| Total DebtLower is stronger | $1.9B | $554.6M |
| Stockholders' EquityBook value | $1.0B | $36.0M |
| Total Assets | $3.9B | $1.8B |
| Debt / EquityLower = less leverage | 1.86× | 15.40× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $264.0M | $157.1M | ||
| Q3 25 | — | $29.9M | ||
| Q2 25 | $276.0M | $43.0M | ||
| Q1 25 | $282.0M | $89.0M | ||
| Q4 24 | $215.0M | $54.9M | ||
| Q3 24 | $230.0M | $37.3M | ||
| Q2 24 | $33.9M | $33.3M | ||
| Q1 24 | $30.2M | $28.0M |
| Q4 25 | $1.9B | $554.6M | ||
| Q3 25 | — | $581.7M | ||
| Q2 25 | $2.0B | $568.8M | ||
| Q1 25 | $2.0B | $577.4M | ||
| Q4 24 | $2.0B | $584.7M | ||
| Q3 24 | $2.0B | $647.0M | ||
| Q2 24 | $877.4M | $599.2M | ||
| Q1 24 | $884.7M | $602.5M |
| Q4 25 | $1.0B | $36.0M | ||
| Q3 25 | — | $-65.8M | ||
| Q2 25 | $1.1B | $-13.3M | ||
| Q1 25 | $1.1B | $9.5M | ||
| Q4 24 | $1.1B | $10.3M | ||
| Q3 24 | $2.1B | $-48.7M | ||
| Q2 24 | $2.4B | $-23.2M | ||
| Q1 24 | $2.4B | $-94.6M |
| Q4 25 | $3.9B | $1.8B | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | $4.1B | $1.7B | ||
| Q1 25 | $4.1B | $1.7B | ||
| Q4 24 | $4.0B | $1.6B | ||
| Q3 24 | $2.8B | $1.6B | ||
| Q2 24 | $1.5B | $1.6B | ||
| Q1 24 | $1.5B | $1.5B |
| Q4 25 | 1.86× | 15.40× | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.77× | — | ||
| Q1 25 | 1.83× | 60.61× | ||
| Q4 24 | 1.80× | 56.61× | ||
| Q3 24 | 0.91× | — | ||
| Q2 24 | 0.37× | — | ||
| Q1 24 | 0.36× | — |
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 | $2.0M | $164.4M |
| Free Cash FlowOCF − Capex | $-13.0M | — |
| FCF MarginFCF / Revenue | -1.6% | — |
| Capex IntensityCapex / Revenue | 1.9% | — |
| Cash ConversionOCF / Net Profit | — | 1.77× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.0M | $164.4M | ||
| Q3 25 | — | $19.8M | ||
| Q2 25 | $0 | $-27.0M | ||
| Q1 25 | $65.0M | $56.8M | ||
| Q4 24 | $-58.0M | $112.9M | ||
| Q3 24 | $12.2M | $-27.4M | ||
| Q2 24 | $38.0M | $212.0K | ||
| Q1 24 | $20.0M | $5.8M |
| Q4 25 | $-13.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $42.0M | — | ||
| Q4 24 | $-74.0M | — | ||
| Q3 24 | $3.6M | — | ||
| Q2 24 | $23.0M | — | ||
| Q1 24 | $12.5M | — |
| Q4 25 | -1.6% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 5.1% | — | ||
| Q4 24 | -10.5% | — | ||
| Q3 24 | 1.1% | — | ||
| Q2 24 | 4.1% | — | ||
| Q1 24 | 2.2% | — |
| Q4 25 | 1.9% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.5% | — | ||
| Q1 25 | 2.8% | — | ||
| Q4 24 | 2.3% | — | ||
| Q3 24 | 2.6% | — | ||
| Q2 24 | 2.7% | — | ||
| Q1 24 | 1.3% | — |
| Q4 25 | — | 1.77× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 7.07× | ||
| Q4 24 | — | 1.49× | ||
| Q3 24 | — | — | ||
| Q2 24 | 2.00× | 0.00× | ||
| Q1 24 | 1.43× | 2.08× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MAGN
| Other | $451.0M | 57% |
| United States And Canada | $341.0M | 43% |
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% |
