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Side-by-side financial comparison of Magnera Corp (MAGN) and Madison Square Garden Sports Corp. (MSGS). Click either name above to swap in a different company.
Magnera Corp is the larger business by last-quarter revenue ($792.0M vs $403.4M, roughly 2.0× Madison Square Garden Sports Corp.). Madison Square Garden Sports Corp. runs the higher net margin — 2.0% vs -4.3%, a 6.3% gap on every dollar of revenue. On growth, Magnera Corp posted the faster year-over-year revenue change (12.8% vs 12.8%). Madison Square Garden Sports Corp. produced more free cash flow last quarter ($31.6M vs $-13.0M). Over the past eight quarters, Magnera Corp's revenue compounded faster (54.9% CAGR vs -3.1%).
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
MAGN vs MSGS — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $792.0M | $403.4M |
| Net Profit | $-34.0M | $8.2M |
| Gross Margin | 12.2% | — |
| Operating Margin | 1.8% | 5.5% |
| Net Margin | -4.3% | 2.0% |
| Revenue YoY | 12.8% | 12.8% |
| Net Profit YoY | 43.3% | 641.9% |
| EPS (diluted) | $-0.95 | $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 | $792.0M | $403.4M | ||
| Q3 25 | — | $39.5M | ||
| Q2 25 | $839.0M | $204.0M | ||
| Q1 25 | $824.0M | $424.2M | ||
| Q4 24 | $702.0M | $357.8M | ||
| Q3 24 | $332.1M | $53.3M | ||
| Q2 24 | $556.0M | $227.3M | ||
| Q1 24 | $558.0M | $430.0M |
| Q4 25 | $-34.0M | $8.2M | ||
| Q3 25 | — | $-8.8M | ||
| Q2 25 | $-18.0M | $-1.8M | ||
| Q1 25 | $-41.0M | $-14.2M | ||
| Q4 24 | $-60.0M | $1.1M | ||
| Q3 24 | $-15.2M | $-7.5M | ||
| Q2 24 | $19.0M | $25.5M | ||
| Q1 24 | $14.0M | $37.9M |
| 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% | 5.5% | ||
| Q3 25 | — | -69.5% | ||
| Q2 25 | 1.5% | -11.1% | ||
| Q1 25 | 0.5% | 7.6% | ||
| Q4 24 | -3.1% | 3.7% | ||
| Q3 24 | 0.9% | -15.5% | ||
| Q2 24 | 3.1% | 23.0% | ||
| Q1 24 | 3.8% | 18.5% |
| Q4 25 | -4.3% | 2.0% | ||
| Q3 25 | — | -22.3% | ||
| Q2 25 | -2.1% | -0.9% | ||
| Q1 25 | -5.0% | -3.4% | ||
| Q4 24 | -8.5% | 0.3% | ||
| Q3 24 | -4.6% | -14.1% | ||
| Q2 24 | 3.4% | 11.2% | ||
| Q1 24 | 2.5% | 8.8% |
| Q4 25 | $-0.95 | $0.34 | ||
| Q3 25 | — | $-0.37 | ||
| Q2 25 | $-0.51 | $-0.08 | ||
| Q1 25 | $-1.15 | $-0.59 | ||
| Q4 24 | $-1.69 | $0.05 | ||
| Q3 24 | $-0.33 | $-0.31 | ||
| Q2 24 | $0.60 | $1.07 | ||
| Q1 24 | $0.44 | $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 | $264.0M | $81.3M |
| Total DebtLower is stronger | $1.9B | — |
| Stockholders' EquityBook value | $1.0B | $-282.1M |
| Total Assets | $3.9B | $1.5B |
| Debt / EquityLower = less leverage | 1.86× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $264.0M | $81.3M | ||
| Q3 25 | — | $48.6M | ||
| Q2 25 | $276.0M | $144.6M | ||
| Q1 25 | $282.0M | $96.5M | ||
| Q4 24 | $215.0M | $107.8M | ||
| Q3 24 | $230.0M | $52.3M | ||
| Q2 24 | $33.9M | $89.1M | ||
| Q1 24 | $30.2M | $40.0M |
| Q4 25 | $1.9B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $2.0B | — | ||
| Q1 25 | $2.0B | — | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | $2.0B | — | ||
| Q2 24 | $877.4M | — | ||
| Q1 24 | $884.7M | — |
| Q4 25 | $1.0B | $-282.1M | ||
| Q3 25 | — | $-294.2M | ||
| Q2 25 | $1.1B | $-281.4M | ||
| Q1 25 | $1.1B | $-283.4M | ||
| Q4 24 | $1.1B | $-273.1M | ||
| Q3 24 | $2.1B | $-277.5M | ||
| Q2 24 | $2.4B | $-266.3M | ||
| Q1 24 | $2.4B | $-294.0M |
| Q4 25 | $3.9B | $1.5B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | $4.1B | $1.5B | ||
| Q1 25 | $4.1B | $1.5B | ||
| Q4 24 | $4.0B | $1.4B | ||
| Q3 24 | $2.8B | $1.4B | ||
| Q2 24 | $1.5B | $1.3B | ||
| Q1 24 | $1.5B | $1.4B |
| Q4 25 | 1.86× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.77× | — | ||
| Q1 25 | 1.83× | — | ||
| Q4 24 | 1.80× | — | ||
| 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 | $32.4M |
| Free Cash FlowOCF − Capex | $-13.0M | $31.6M |
| FCF MarginFCF / Revenue | -1.6% | 7.8% |
| Capex IntensityCapex / Revenue | 1.9% | 0.2% |
| Cash ConversionOCF / Net Profit | — | 3.94× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-480.0K |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.0M | $32.4M | ||
| Q3 25 | — | $-85.0M | ||
| Q2 25 | $0 | $49.7M | ||
| Q1 25 | $65.0M | $6.3M | ||
| Q4 24 | $-58.0M | $61.8M | ||
| Q3 24 | $12.2M | $-26.2M | ||
| Q2 24 | $38.0M | $108.4M | ||
| Q1 24 | $20.0M | $4.0M |
| Q4 25 | $-13.0M | $31.6M | ||
| Q3 25 | — | $-85.3M | ||
| Q2 25 | — | $49.4M | ||
| Q1 25 | $42.0M | $3.9M | ||
| Q4 24 | $-74.0M | $61.2M | ||
| Q3 24 | $3.6M | $-26.5M | ||
| Q2 24 | $23.0M | $108.0M | ||
| Q1 24 | $12.5M | $3.9M |
| Q4 25 | -1.6% | 7.8% | ||
| Q3 25 | — | -216.3% | ||
| Q2 25 | — | 24.2% | ||
| Q1 25 | 5.1% | 0.9% | ||
| Q4 24 | -10.5% | 17.1% | ||
| Q3 24 | 1.1% | -49.7% | ||
| Q2 24 | 4.1% | 47.5% | ||
| Q1 24 | 2.2% | 0.9% |
| Q4 25 | 1.9% | 0.2% | ||
| Q3 25 | — | 0.9% | ||
| Q2 25 | 1.5% | 0.2% | ||
| Q1 25 | 2.8% | 0.6% | ||
| Q4 24 | 2.3% | 0.1% | ||
| Q3 24 | 2.6% | 0.7% | ||
| Q2 24 | 2.7% | 0.2% | ||
| Q1 24 | 1.3% | 0.0% |
| Q4 25 | — | 3.94× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 55.61× | ||
| Q3 24 | — | — | ||
| Q2 24 | 2.00× | 4.25× | ||
| Q1 24 | 1.43× | 0.11× |
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% |
MSGS
| Event Related | $167.2M | 41% |
| Media Rights | $122.3M | 30% |
| Sponsorship Signage And Suite Licenses | $98.5M | 24% |
| League Distribution | $15.4M | 4% |
