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Side-by-side financial comparison of Madison Square Garden Entertainment Corp. (MSGE) and PEGASYSTEMS INC (PEGA). Click either name above to swap in a different company.
PEGASYSTEMS INC is the larger business by last-quarter revenue ($430.0M vs $424.8M, roughly 1.0× Madison Square Garden Entertainment Corp.). Madison Square Garden Entertainment Corp. runs the higher net margin — 21.8% vs 7.6%, a 14.2% gap on every dollar of revenue. On growth, Madison Square Garden Entertainment Corp. posted the faster year-over-year revenue change (12.5% vs -9.6%). Over the past eight quarters, Madison Square Garden Entertainment Corp.'s revenue compounded faster (48.9% CAGR vs 10.7%).
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
Pegasystems Inc. (Pega) is a global software company based in Waltham, Massachusetts, in the United States, and founded in 1983. The company has been publicly traded since 1996 as PEGA (NASDAQ). Pega is a low-code platform for workflow automation and generative AI-powered decision-making for businesses.
MSGE vs PEGA — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $424.8M | $430.0M |
| Net Profit | $92.7M | $32.8M |
| Gross Margin | — | 75.2% |
| Operating Margin | 38.6% | 8.6% |
| Net Margin | 21.8% | 7.6% |
| Revenue YoY | 12.5% | -9.6% |
| Net Profit YoY | 22.2% | — |
| EPS (diluted) | $1.94 | $0.18 |
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.
| Q1 26 | — | $430.0M | ||
| Q4 25 | $424.8M | $504.3M | ||
| Q3 25 | $154.1M | $381.4M | ||
| Q2 25 | $145.1M | $384.5M | ||
| Q1 25 | $206.0M | $475.6M | ||
| Q4 24 | $377.6M | $490.8M | ||
| Q3 24 | $134.1M | $325.1M | ||
| Q2 24 | $177.6M | $351.2M |
| Q1 26 | — | $32.8M | ||
| Q4 25 | $92.7M | $234.6M | ||
| Q3 25 | $-21.7M | $43.4M | ||
| Q2 25 | $-27.2M | $30.1M | ||
| Q1 25 | $8.0M | $85.4M | ||
| Q4 24 | $75.9M | $119.1M | ||
| Q3 24 | $-19.3M | $-14.4M | ||
| Q2 24 | $66.9M | $6.6M |
| Q1 26 | — | 75.2% | ||
| Q4 25 | — | 79.5% | ||
| Q3 25 | — | 72.2% | ||
| Q2 25 | — | 71.5% | ||
| Q1 25 | — | 78.5% | ||
| Q4 24 | — | 79.1% | ||
| Q3 24 | — | 70.2% | ||
| Q2 24 | — | 72.4% |
| Q1 26 | — | 8.6% | ||
| Q4 25 | 38.6% | 20.7% | ||
| Q3 25 | -19.3% | 3.8% | ||
| Q2 25 | -17.7% | 4.5% | ||
| Q1 25 | 13.3% | 26.7% | ||
| Q4 24 | 36.8% | 29.1% | ||
| Q3 24 | -13.8% | -3.6% | ||
| Q2 24 | -5.0% | 3.7% |
| Q1 26 | — | 7.6% | ||
| Q4 25 | 21.8% | 46.5% | ||
| Q3 25 | -14.0% | 11.4% | ||
| Q2 25 | -18.7% | 7.8% | ||
| Q1 25 | 3.9% | 18.0% | ||
| Q4 24 | 20.1% | 24.3% | ||
| Q3 24 | -14.4% | -4.4% | ||
| Q2 24 | 37.7% | 1.9% |
| Q1 26 | — | $0.18 | ||
| Q4 25 | $1.94 | $0.81 | ||
| Q3 25 | $-0.46 | $0.24 | ||
| Q2 25 | $-0.56 | $0.17 | ||
| Q1 25 | $0.17 | $0.91 | ||
| Q4 24 | $1.56 | $1.35 | ||
| Q3 24 | $-0.40 | $-0.17 | ||
| Q2 24 | $1.32 | $0.07 |
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 | $270.0M |
| Total DebtLower is stronger | $554.6M | — |
| Stockholders' EquityBook value | $36.0M | $705.9M |
| Total Assets | $1.8B | $1.6B |
| Debt / EquityLower = less leverage | 15.40× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $270.0M | ||
| Q4 25 | $157.1M | $425.8M | ||
| Q3 25 | $29.9M | $351.4M | ||
| Q2 25 | $43.0M | $411.6M | ||
| Q1 25 | $89.0M | $371.7M | ||
| Q4 24 | $54.9M | $740.0M | ||
| Q3 24 | $37.3M | $703.0M | ||
| Q2 24 | $33.3M | $665.1M |
| Q1 26 | — | — | ||
| 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 26 | — | $705.9M | ||
| Q4 25 | $36.0M | $787.4M | ||
| Q3 25 | $-65.8M | $596.8M | ||
| Q2 25 | $-13.3M | $624.5M | ||
| Q1 25 | $9.5M | $611.3M | ||
| Q4 24 | $10.3M | $585.5M | ||
| Q3 24 | $-48.7M | $473.0M | ||
| Q2 24 | $-23.2M | $435.4M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $1.8B | $1.6B | ||
| Q3 25 | $1.7B | $1.3B | ||
| Q2 25 | $1.7B | $1.3B | ||
| Q1 25 | $1.7B | $1.3B | ||
| Q4 24 | $1.6B | $1.8B | ||
| Q3 24 | $1.6B | $1.6B | ||
| Q2 24 | $1.6B | $1.5B |
| Q1 26 | — | — | ||
| Q4 25 | 15.40× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 60.61× | — | ||
| Q4 24 | 56.61× | — | ||
| Q3 24 | — | — | ||
| Q2 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 | — |
| Free Cash FlowOCF − Capex | — | $206.5M |
| FCF MarginFCF / Revenue | — | 48.0% |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 1.77× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $494.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $164.4M | $158.4M | ||
| Q3 25 | $19.8M | $56.3M | ||
| Q2 25 | $-27.0M | $86.3M | ||
| Q1 25 | $56.8M | $204.2M | ||
| Q4 24 | $112.9M | $95.2M | ||
| Q3 24 | $-27.4M | $30.5M | ||
| Q2 24 | $212.0K | $40.1M |
| Q1 26 | — | $206.5M | ||
| Q4 25 | — | $152.4M | ||
| Q3 25 | — | $51.8M | ||
| Q2 25 | — | $84.1M | ||
| Q1 25 | — | $202.3M | ||
| Q4 24 | — | $92.4M | ||
| Q3 24 | — | $27.4M | ||
| Q2 24 | — | $38.8M |
| Q1 26 | — | 48.0% | ||
| Q4 25 | — | 30.2% | ||
| Q3 25 | — | 13.6% | ||
| Q2 25 | — | 21.9% | ||
| Q1 25 | — | 42.5% | ||
| Q4 24 | — | 18.8% | ||
| Q3 24 | — | 8.4% | ||
| Q2 24 | — | 11.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.2% | ||
| Q3 25 | — | 1.2% | ||
| Q2 25 | — | 0.6% | ||
| Q1 25 | — | 0.4% | ||
| Q4 24 | — | 0.6% | ||
| Q3 24 | — | 0.9% | ||
| Q2 24 | — | 0.4% |
| Q1 26 | — | — | ||
| Q4 25 | 1.77× | 0.68× | ||
| Q3 25 | — | 1.30× | ||
| Q2 25 | — | 2.87× | ||
| Q1 25 | 7.07× | 2.39× | ||
| Q4 24 | 1.49× | 0.80× | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.00× | 6.06× |
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% |
PEGA
| Pega Cloud | $205.0M | 48% |
| Subscription license | $94.9M | 22% |
| Maintenance | $75.3M | 18% |
| Consulting | $54.8M | 13% |
