vs
Side-by-side financial comparison of Madison Square Garden Entertainment Corp. (MSGE) and Principal Financial Group (PFG). Click either name above to swap in a different company.
Principal Financial Group is the larger business by last-quarter revenue ($4.6B vs $424.8M, roughly 10.8× 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 -3.7%). Over the past eight quarters, Madison Square Garden Entertainment Corp.'s revenue compounded faster (48.9% CAGR vs 6.3%).
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
Principal Financial GroupPFGEarnings & Financial Report
Principal Financial Group, Inc. (PFG) is an American global financial investment management and insurance company headquartered in Des Moines, Iowa, United States.
MSGE vs PFG — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $424.8M | $4.6B |
| Net Profit | $92.7M | $517.0M |
| Gross Margin | — | — |
| Operating Margin | 38.6% | — |
| Net Margin | 21.8% | 11.3% |
| Revenue YoY | 12.5% | -3.7% |
| Net Profit YoY | 22.2% | -42.9% |
| EPS (diluted) | $1.94 | $2.30 |
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 | $4.6B | ||
| Q3 25 | $154.1M | $3.7B | ||
| Q2 25 | $145.1M | $3.7B | ||
| Q1 25 | $206.0M | $3.7B | ||
| Q4 24 | $377.6M | $4.8B | ||
| Q3 24 | $134.1M | $3.0B | ||
| Q2 24 | $177.6M | $4.3B | ||
| Q1 24 | $191.6M | $4.1B |
| Q4 25 | $92.7M | $517.0M | ||
| Q3 25 | $-21.7M | $213.8M | ||
| Q2 25 | $-27.2M | $406.2M | ||
| Q1 25 | $8.0M | $48.1M | ||
| Q4 24 | $75.9M | $905.4M | ||
| Q3 24 | $-19.3M | $-220.0M | ||
| Q2 24 | $66.9M | $353.1M | ||
| Q1 24 | $2.8M | $532.5M |
| Q4 25 | 38.6% | — | ||
| Q3 25 | -19.3% | — | ||
| Q2 25 | -17.7% | — | ||
| Q1 25 | 13.3% | — | ||
| Q4 24 | 36.8% | — | ||
| Q3 24 | -13.8% | — | ||
| Q2 24 | -5.0% | — | ||
| Q1 24 | 8.8% | — |
| Q4 25 | 21.8% | 11.3% | ||
| Q3 25 | -14.0% | 5.8% | ||
| Q2 25 | -18.7% | 11.1% | ||
| Q1 25 | 3.9% | 1.3% | ||
| Q4 24 | 20.1% | 19.1% | ||
| Q3 24 | -14.4% | -7.3% | ||
| Q2 24 | 37.7% | 8.2% | ||
| Q1 24 | 1.5% | 13.1% |
| Q4 25 | $1.94 | $2.30 | ||
| Q3 25 | $-0.46 | $0.95 | ||
| Q2 25 | $-0.56 | $1.79 | ||
| Q1 25 | $0.17 | $0.21 | ||
| Q4 24 | $1.56 | $3.92 | ||
| Q3 24 | $-0.40 | $-0.95 | ||
| Q2 24 | $1.32 | $1.49 | ||
| Q1 24 | $0.06 | $2.22 |
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 | $4.4B |
| Total DebtLower is stronger | $554.6M | $3.9B |
| Stockholders' EquityBook value | $36.0M | $11.9B |
| Total Assets | $1.8B | $341.4B |
| Debt / EquityLower = less leverage | 15.40× | 0.33× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $157.1M | $4.4B | ||
| Q3 25 | $29.9M | $5.1B | ||
| Q2 25 | $43.0M | $3.7B | ||
| Q1 25 | $89.0M | $3.9B | ||
| Q4 24 | $54.9M | $4.2B | ||
| Q3 24 | $37.3M | $6.2B | ||
| Q2 24 | $33.3M | $4.8B | ||
| Q1 24 | $28.0M | $4.2B |
| Q4 25 | $554.6M | $3.9B | ||
| Q3 25 | $581.7M | $3.9B | ||
| Q2 25 | $568.8M | $3.9B | ||
| Q1 25 | $577.4M | $4.3B | ||
| Q4 24 | $584.7M | $4.0B | ||
| Q3 24 | $647.0M | $3.9B | ||
| Q2 24 | $599.2M | $3.9B | ||
| Q1 24 | $602.5M | $3.9B |
| Q4 25 | $36.0M | $11.9B | ||
| Q3 25 | $-65.8M | $11.7B | ||
| Q2 25 | $-13.3M | $11.4B | ||
| Q1 25 | $9.5M | $11.2B | ||
| Q4 24 | $10.3M | $11.1B | ||
| Q3 24 | $-48.7M | $11.2B | ||
| Q2 24 | $-23.2M | $11.0B | ||
| Q1 24 | $-94.6M | $11.2B |
| Q4 25 | $1.8B | $341.4B | ||
| Q3 25 | $1.7B | $334.5B | ||
| Q2 25 | $1.7B | $323.1B | ||
| Q1 25 | $1.7B | $313.0B | ||
| Q4 24 | $1.6B | $313.7B | ||
| Q3 24 | $1.6B | $322.9B | ||
| Q2 24 | $1.6B | $308.8B | ||
| Q1 24 | $1.5B | $308.7B |
| Q4 25 | 15.40× | 0.33× | ||
| Q3 25 | — | 0.34× | ||
| Q2 25 | — | 0.34× | ||
| Q1 25 | 60.61× | 0.39× | ||
| Q4 24 | 56.61× | 0.36× | ||
| Q3 24 | — | 0.35× | ||
| Q2 24 | — | 0.36× | ||
| Q1 24 | — | 0.35× |
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 | $1.7B |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 1.77× | 3.37× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $164.4M | $1.7B | ||
| Q3 25 | $19.8M | $1.0B | ||
| Q2 25 | $-27.0M | $811.9M | ||
| Q1 25 | $56.8M | $977.3M | ||
| Q4 24 | $112.9M | $1.5B | ||
| Q3 24 | $-27.4M | $1.1B | ||
| Q2 24 | $212.0K | $1.4B | ||
| Q1 24 | $5.8M | $584.2M |
| Q4 25 | 1.77× | 3.37× | ||
| Q3 25 | — | 4.70× | ||
| Q2 25 | — | 2.00× | ||
| Q1 25 | 7.07× | 20.32× | ||
| Q4 24 | 1.49× | 1.61× | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.00× | 4.05× | ||
| Q1 24 | 2.08× | 1.10× |
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% |
PFG
| Segment Retirement And Income Solutions | $1.6B | 36% |
| Segment Benefits And Protection | $1.1B | 23% |
| Other | $582.8M | 13% |
| Segment Principal Asset Management | $465.6M | 10% |
| Subsegment Investment Management | $449.4M | 10% |
| Administrative Service | $152.2M | 3% |
| Subsegment International Pension | $91.2M | 2% |
| Segment Corporate | $73.0M | 2% |
| Subsegment Life Insurance | $26.1M | 1% |
| Financial Service Other | $25.1M | 1% |
| Residential Mortgage | $7.4M | 0% |
| Subsegment Specialty Benefits | $3.7M | 0% |
| Deposit Account | $3.4M | 0% |
| Commission Income | $1.8M | 0% |
