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Side-by-side financial comparison of Madison Square Garden Entertainment Corp. (MSGE) and Construction Partners, Inc. (ROAD). Click either name above to swap in a different company.
Construction Partners, Inc. is the larger business by last-quarter revenue ($809.5M vs $424.8M, roughly 1.9× Madison Square Garden Entertainment Corp.). Madison Square Garden Entertainment Corp. runs the higher net margin — 21.8% vs 2.1%, a 19.7% gap on every dollar of revenue. On growth, Construction Partners, Inc. posted the faster year-over-year revenue change (44.1% vs 12.5%). Over the past eight quarters, Madison Square Garden Entertainment Corp.'s revenue compounded faster (48.9% CAGR vs 47.6%).
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
Alexander Construction Company was a Palm Springs, California, residential development company that built over 2,200 houses in the Coachella Valley of Riverside County, California, between 1955 and 1965.
MSGE vs ROAD — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $424.8M | $809.5M |
| Net Profit | $92.7M | $17.2M |
| Gross Margin | — | 15.0% |
| Operating Margin | 38.6% | 6.2% |
| Net Margin | 21.8% | 2.1% |
| Revenue YoY | 12.5% | 44.1% |
| Net Profit YoY | 22.2% | 663.9% |
| EPS (diluted) | $1.94 | $0.31 |
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 | $809.5M | ||
| Q3 25 | $154.1M | $899.8M | ||
| Q2 25 | $145.1M | $779.3M | ||
| Q1 25 | $206.0M | $571.6M | ||
| Q4 24 | $377.6M | $561.6M | ||
| Q3 24 | $134.1M | $538.2M | ||
| Q2 24 | $177.6M | $517.8M | ||
| Q1 24 | $191.6M | $371.4M |
| Q4 25 | $92.7M | $17.2M | ||
| Q3 25 | $-21.7M | $56.6M | ||
| Q2 25 | $-27.2M | $44.0M | ||
| Q1 25 | $8.0M | $4.2M | ||
| Q4 24 | $75.9M | $-3.1M | ||
| Q3 24 | $-19.3M | $29.3M | ||
| Q2 24 | $66.9M | $30.9M | ||
| Q1 24 | $2.8M | $-1.1M |
| Q4 25 | — | 15.0% | ||
| Q3 25 | — | 17.7% | ||
| Q2 25 | — | 16.9% | ||
| Q1 25 | — | 12.5% | ||
| Q4 24 | — | 13.6% | ||
| Q3 24 | — | 15.6% | ||
| Q2 24 | — | 16.1% | ||
| Q1 24 | — | 10.4% |
| Q4 25 | 38.6% | 6.2% | ||
| Q3 25 | -19.3% | 11.2% | ||
| Q2 25 | -17.7% | 10.6% | ||
| Q1 25 | 13.3% | 4.8% | ||
| Q4 24 | 36.8% | 2.5% | ||
| Q3 24 | -13.8% | 8.5% | ||
| Q2 24 | -5.0% | 8.8% | ||
| Q1 24 | 8.8% | 0.8% |
| Q4 25 | 21.8% | 2.1% | ||
| Q3 25 | -14.0% | 6.3% | ||
| Q2 25 | -18.7% | 5.7% | ||
| Q1 25 | 3.9% | 0.7% | ||
| Q4 24 | 20.1% | -0.5% | ||
| Q3 24 | -14.4% | 5.4% | ||
| Q2 24 | 37.7% | 6.0% | ||
| Q1 24 | 1.5% | -0.3% |
| Q4 25 | $1.94 | $0.31 | ||
| Q3 25 | $-0.46 | $1.03 | ||
| Q2 25 | $-0.56 | $0.79 | ||
| Q1 25 | $0.17 | $0.08 | ||
| Q4 24 | $1.56 | $-0.06 | ||
| Q3 24 | $-0.40 | $0.55 | ||
| Q2 24 | $1.32 | $0.59 | ||
| Q1 24 | $0.06 | $-0.02 |
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 | $104.1M |
| Total DebtLower is stronger | $554.6M | — |
| Stockholders' EquityBook value | $36.0M | $969.1M |
| Total Assets | $1.8B | $3.4B |
| Debt / EquityLower = less leverage | 15.40× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $157.1M | $104.1M | ||
| Q3 25 | $29.9M | $156.1M | ||
| Q2 25 | $43.0M | $114.3M | ||
| Q1 25 | $89.0M | $101.9M | ||
| Q4 24 | $54.9M | $132.5M | ||
| Q3 24 | $37.3M | $74.7M | ||
| Q2 24 | $33.3M | $56.3M | ||
| Q1 24 | $28.0M | $48.0M |
| Q4 25 | $554.6M | — | ||
| Q3 25 | $581.7M | $1.6B | ||
| Q2 25 | $568.8M | — | ||
| Q1 25 | $577.4M | — | ||
| Q4 24 | $584.7M | — | ||
| Q3 24 | $647.0M | $515.0M | ||
| Q2 24 | $599.2M | — | ||
| Q1 24 | $602.5M | — |
| Q4 25 | $36.0M | $969.1M | ||
| Q3 25 | $-65.8M | $912.0M | ||
| Q2 25 | $-13.3M | $853.3M | ||
| Q1 25 | $9.5M | $807.9M | ||
| Q4 24 | $10.3M | $811.1M | ||
| Q3 24 | $-48.7M | $573.7M | ||
| Q2 24 | $-23.2M | $552.9M | ||
| Q1 24 | $-94.6M | $525.0M |
| Q4 25 | $1.8B | $3.4B | ||
| Q3 25 | $1.7B | $3.2B | ||
| Q2 25 | $1.7B | $2.9B | ||
| Q1 25 | $1.7B | $2.8B | ||
| Q4 24 | $1.6B | $2.6B | ||
| Q3 24 | $1.6B | $1.5B | ||
| Q2 24 | $1.6B | $1.4B | ||
| Q1 24 | $1.5B | $1.3B |
| Q4 25 | 15.40× | — | ||
| Q3 25 | — | 1.78× | ||
| Q2 25 | — | — | ||
| Q1 25 | 60.61× | — | ||
| Q4 24 | 56.61× | — | ||
| Q3 24 | — | 0.90× | ||
| 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 | $82.6M |
| Free Cash FlowOCF − Capex | — | $47.1M |
| FCF MarginFCF / Revenue | — | 5.8% |
| Capex IntensityCapex / Revenue | — | 4.4% |
| Cash ConversionOCF / Net Profit | 1.77× | 4.80× |
| TTM Free Cash FlowTrailing 4 quarters | — | $186.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $164.4M | $82.6M | ||
| Q3 25 | $19.8M | $112.0M | ||
| Q2 25 | $-27.0M | $83.0M | ||
| Q1 25 | $56.8M | $55.6M | ||
| Q4 24 | $112.9M | $40.7M | ||
| Q3 24 | $-27.4M | $95.9M | ||
| Q2 24 | $212.0K | $34.6M | ||
| Q1 24 | $5.8M | $18.2M |
| Q4 25 | — | $47.1M | ||
| Q3 25 | — | $78.9M | ||
| Q2 25 | — | $46.4M | ||
| Q1 25 | — | $14.2M | ||
| Q4 24 | — | $13.8M | ||
| Q3 24 | — | $78.4M | ||
| Q2 24 | — | $19.7M | ||
| Q1 24 | — | $-10.6M |
| Q4 25 | — | 5.8% | ||
| Q3 25 | — | 8.8% | ||
| Q2 25 | — | 5.9% | ||
| Q1 25 | — | 2.5% | ||
| Q4 24 | — | 2.5% | ||
| Q3 24 | — | 14.6% | ||
| Q2 24 | — | 3.8% | ||
| Q1 24 | — | -2.8% |
| Q4 25 | — | 4.4% | ||
| Q3 25 | — | 3.7% | ||
| Q2 25 | — | 4.7% | ||
| Q1 25 | — | 7.2% | ||
| Q4 24 | — | 4.8% | ||
| Q3 24 | — | 3.3% | ||
| Q2 24 | — | 2.9% | ||
| Q1 24 | — | 7.7% |
| Q4 25 | 1.77× | 4.80× | ||
| Q3 25 | — | 1.98× | ||
| Q2 25 | — | 1.88× | ||
| Q1 25 | 7.07× | 13.20× | ||
| Q4 24 | 1.49× | — | ||
| Q3 24 | — | 3.27× | ||
| Q2 24 | 0.00× | 1.12× | ||
| Q1 24 | 2.08× | — |
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% |
ROAD
Segment breakdown not available.
