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Side-by-side financial comparison of Madison Square Garden Entertainment Corp. (MSGE) and Noble Corp plc (NE). Click either name above to swap in a different company.
Noble Corp plc is the larger business by last-quarter revenue ($764.4M vs $424.8M, roughly 1.8× Madison Square Garden Entertainment Corp.). Madison Square Garden Entertainment Corp. runs the higher net margin — 21.8% vs 11.3%, a 10.5% gap on every dollar of revenue. On growth, Madison Square Garden Entertainment Corp. posted the faster year-over-year revenue change (12.5% vs -17.6%). Over the past eight quarters, Madison Square Garden Entertainment Corp.'s revenue compounded faster (48.9% CAGR vs 9.5%).
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
Barnes & Noble Booksellers is an American bookseller with the largest number of retail outlets in the United States. The company operates approximately 700+ retail stores across the United States.
MSGE vs NE — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $424.8M | $764.4M |
| Net Profit | $92.7M | $86.6M |
| Gross Margin | — | — |
| Operating Margin | 38.6% | 5.6% |
| Net Margin | 21.8% | 11.3% |
| Revenue YoY | 12.5% | -17.6% |
| Net Profit YoY | 22.2% | -10.4% |
| EPS (diluted) | $1.94 | $0.54 |
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 | $764.4M | ||
| Q3 25 | $154.1M | $798.0M | ||
| Q2 25 | $145.1M | $848.7M | ||
| Q1 25 | $206.0M | $874.5M | ||
| Q4 24 | $377.6M | $927.3M | ||
| Q3 24 | $134.1M | $800.5M | ||
| Q2 24 | $177.6M | $692.8M | ||
| Q1 24 | $191.6M | $637.1M |
| Q4 25 | $92.7M | $86.6M | ||
| Q3 25 | $-21.7M | $-21.1M | ||
| Q2 25 | $-27.2M | $42.9M | ||
| Q1 25 | $8.0M | $108.3M | ||
| Q4 24 | $75.9M | $96.6M | ||
| Q3 24 | $-19.3M | $61.2M | ||
| Q2 24 | $66.9M | $195.0M | ||
| Q1 24 | $2.8M | $95.5M |
| Q4 25 | 38.6% | 5.6% | ||
| Q3 25 | -19.3% | 6.3% | ||
| Q2 25 | -17.7% | 15.9% | ||
| Q1 25 | 13.3% | 21.4% | ||
| Q4 24 | 36.8% | 18.4% | ||
| Q3 24 | -13.8% | 14.4% | ||
| Q2 24 | -5.0% | 30.3% | ||
| Q1 24 | 8.8% | 16.9% |
| Q4 25 | 21.8% | 11.3% | ||
| Q3 25 | -14.0% | -2.6% | ||
| Q2 25 | -18.7% | 5.1% | ||
| Q1 25 | 3.9% | 12.4% | ||
| Q4 24 | 20.1% | 10.4% | ||
| Q3 24 | -14.4% | 7.6% | ||
| Q2 24 | 37.7% | 28.1% | ||
| Q1 24 | 1.5% | 15.0% |
| Q4 25 | $1.94 | $0.54 | ||
| Q3 25 | $-0.46 | $-0.13 | ||
| Q2 25 | $-0.56 | $0.27 | ||
| Q1 25 | $0.17 | $0.67 | ||
| Q4 24 | $1.56 | $0.56 | ||
| Q3 24 | $-0.40 | $0.40 | ||
| Q2 24 | $1.32 | $1.34 | ||
| Q1 24 | $0.06 | $0.66 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $157.1M | $471.4M |
| Total DebtLower is stronger | $554.6M | — |
| Stockholders' EquityBook value | $36.0M | $4.5B |
| Total Assets | $1.8B | $7.5B |
| Debt / EquityLower = less leverage | 15.40× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $157.1M | $471.4M | ||
| Q3 25 | $29.9M | $477.9M | ||
| Q2 25 | $43.0M | $338.2M | ||
| Q1 25 | $89.0M | $303.8M | ||
| Q4 24 | $54.9M | $247.3M | ||
| Q3 24 | $37.3M | $391.9M | ||
| Q2 24 | $33.3M | $162.9M | ||
| Q1 24 | $28.0M | $212.5M |
| 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 | $4.5B | ||
| Q3 25 | $-65.8M | $4.5B | ||
| Q2 25 | $-13.3M | $4.6B | ||
| Q1 25 | $9.5M | $4.7B | ||
| Q4 24 | $10.3M | $4.7B | ||
| Q3 24 | $-48.7M | $4.7B | ||
| Q2 24 | $-23.2M | $4.0B | ||
| Q1 24 | $-94.6M | $3.9B |
| Q4 25 | $1.8B | $7.5B | ||
| Q3 25 | $1.7B | $7.6B | ||
| Q2 25 | $1.7B | $7.7B | ||
| Q1 25 | $1.7B | $7.9B | ||
| Q4 24 | $1.6B | $8.0B | ||
| Q3 24 | $1.6B | $8.0B | ||
| Q2 24 | $1.6B | $5.6B | ||
| Q1 24 | $1.5B | $5.4B |
| 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 | $187.1M |
| Free Cash FlowOCF − Capex | — | $35.4M |
| FCF MarginFCF / Revenue | — | 4.6% |
| Capex IntensityCapex / Revenue | — | 19.9% |
| Cash ConversionOCF / Net Profit | 1.77× | 2.16× |
| TTM Free Cash FlowTrailing 4 quarters | — | $432.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $164.4M | $187.1M | ||
| Q3 25 | $19.8M | $277.1M | ||
| Q2 25 | $-27.0M | $216.4M | ||
| Q1 25 | $56.8M | $271.1M | ||
| Q4 24 | $112.9M | $136.2M | ||
| Q3 24 | $-27.4M | $283.8M | ||
| Q2 24 | $212.0K | $106.8M | ||
| Q1 24 | $5.8M | $128.7M |
| Q4 25 | — | $35.4M | ||
| Q3 25 | — | $139.5M | ||
| Q2 25 | — | $99.8M | ||
| Q1 25 | — | $157.5M | ||
| Q4 24 | — | $-4.4M | ||
| Q3 24 | — | $156.8M | ||
| Q2 24 | — | $-34.3M | ||
| Q1 24 | — | $-37.9M |
| Q4 25 | — | 4.6% | ||
| Q3 25 | — | 17.5% | ||
| Q2 25 | — | 11.8% | ||
| Q1 25 | — | 18.0% | ||
| Q4 24 | — | -0.5% | ||
| Q3 24 | — | 19.6% | ||
| Q2 24 | — | -4.9% | ||
| Q1 24 | — | -6.0% |
| Q4 25 | — | 19.9% | ||
| Q3 25 | — | 17.3% | ||
| Q2 25 | — | 13.7% | ||
| Q1 25 | — | 13.0% | ||
| Q4 24 | — | 15.2% | ||
| Q3 24 | — | 15.9% | ||
| Q2 24 | — | 20.4% | ||
| Q1 24 | — | 26.2% |
| Q4 25 | 1.77× | 2.16× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 5.05× | ||
| Q1 25 | 7.07× | 2.50× | ||
| Q4 24 | 1.49× | 1.41× | ||
| Q3 24 | — | 4.64× | ||
| Q2 24 | 0.00× | 0.55× | ||
| Q1 24 | 2.08× | 1.35× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
NE
| Floaters | $559.8M | 73% |
| Jackups | $145.5M | 19% |
| Service Other | $59.1M | 8% |
