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Side-by-side financial comparison of Madison Square Garden Entertainment Corp. (MSGE) and Smith Douglas Homes Corp. (SDHC). Click either name above to swap in a different company.
Madison Square Garden Entertainment Corp. is the larger business by last-quarter revenue ($424.8M vs $260.4M, roughly 1.6× Smith Douglas Homes Corp.). Madison Square Garden Entertainment Corp. runs the higher net margin — 21.8% vs 1.4%, a 20.5% gap on every dollar of revenue. On growth, Madison Square Garden Entertainment Corp. posted the faster year-over-year revenue change (12.5% vs -9.4%). Over the past eight quarters, Madison Square Garden Entertainment Corp.'s revenue compounded faster (48.9% CAGR vs 17.3%).
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
Smith & Wesson Brands, Inc. (S&W) is an American firearm manufacturer headquartered in Maryville, Tennessee, United States.
MSGE vs SDHC — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $424.8M | $260.4M |
| Net Profit | $92.7M | $3.5M |
| Gross Margin | — | 19.9% |
| Operating Margin | 38.6% | 6.5% |
| Net Margin | 21.8% | 1.4% |
| Revenue YoY | 12.5% | -9.4% |
| Net Profit YoY | 22.2% | -14.3% |
| EPS (diluted) | $1.94 | $0.39 |
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 | $260.4M | ||
| Q3 25 | $154.1M | $262.0M | ||
| Q2 25 | $145.1M | $223.9M | ||
| Q1 25 | $206.0M | $224.7M | ||
| Q4 24 | $377.6M | $287.5M | ||
| Q3 24 | $134.1M | $277.8M | ||
| Q2 24 | $177.6M | $220.9M | ||
| Q1 24 | $191.6M | $189.2M |
| Q4 25 | $92.7M | $3.5M | ||
| Q3 25 | $-21.7M | $2.1M | ||
| Q2 25 | $-27.2M | $2.4M | ||
| Q1 25 | $8.0M | $2.7M | ||
| Q4 24 | $75.9M | $4.1M | ||
| Q3 24 | $-19.3M | $5.3M | ||
| Q2 24 | $66.9M | $3.6M | ||
| Q1 24 | $2.8M | $3.0M |
| Q4 25 | — | 19.9% | ||
| Q3 25 | — | 21.0% | ||
| Q2 25 | — | 23.2% | ||
| Q1 25 | — | 23.8% | ||
| Q4 24 | — | 25.5% | ||
| Q3 24 | — | 26.5% | ||
| Q2 24 | — | 26.7% | ||
| Q1 24 | — | 26.1% |
| Q4 25 | 38.6% | 6.5% | ||
| Q3 25 | -19.3% | 6.6% | ||
| Q2 25 | -17.7% | 7.7% | ||
| Q1 25 | 13.3% | 8.7% | ||
| Q4 24 | 36.8% | 10.4% | ||
| Q3 24 | -13.8% | 14.2% | ||
| Q2 24 | -5.0% | 11.7% | ||
| Q1 24 | 8.8% | 11.3% |
| Q4 25 | 21.8% | 1.4% | ||
| Q3 25 | -14.0% | 0.8% | ||
| Q2 25 | -18.7% | 1.1% | ||
| Q1 25 | 3.9% | 1.2% | ||
| Q4 24 | 20.1% | 1.4% | ||
| Q3 24 | -14.4% | 1.9% | ||
| Q2 24 | 37.7% | 1.7% | ||
| Q1 24 | 1.5% | 1.6% |
| Q4 25 | $1.94 | $0.39 | ||
| Q3 25 | $-0.46 | $0.24 | ||
| Q2 25 | $-0.56 | $0.26 | ||
| Q1 25 | $0.17 | $0.30 | ||
| Q4 24 | $1.56 | $0.50 | ||
| Q3 24 | $-0.40 | $0.58 | ||
| Q2 24 | $1.32 | $0.40 | ||
| Q1 24 | $0.06 | $0.33 |
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 | $12.7M |
| Total DebtLower is stronger | $554.6M | — |
| Stockholders' EquityBook value | $36.0M | $86.7M |
| Total Assets | $1.8B | $557.6M |
| Debt / EquityLower = less leverage | 15.40× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $157.1M | $12.7M | ||
| Q3 25 | $29.9M | $14.8M | ||
| Q2 25 | $43.0M | $16.8M | ||
| Q1 25 | $89.0M | $12.7M | ||
| Q4 24 | $54.9M | $22.4M | ||
| Q3 24 | $37.3M | $23.7M | ||
| Q2 24 | $33.3M | $17.3M | ||
| Q1 24 | $28.0M | $32.8M |
| 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 | $86.7M | ||
| Q3 25 | $-65.8M | $82.2M | ||
| Q2 25 | $-13.3M | $80.0M | ||
| Q1 25 | $9.5M | $76.9M | ||
| Q4 24 | $10.3M | $73.6M | ||
| Q3 24 | $-48.7M | $68.4M | ||
| Q2 24 | $-23.2M | $62.1M | ||
| Q1 24 | $-94.6M | $59.7M |
| Q4 25 | $1.8B | $557.6M | ||
| Q3 25 | $1.7B | $571.6M | ||
| Q2 25 | $1.7B | $570.2M | ||
| Q1 25 | $1.7B | $513.9M | ||
| Q4 24 | $1.6B | $475.9M | ||
| Q3 24 | $1.6B | $460.1M | ||
| Q2 24 | $1.6B | $429.3M | ||
| Q1 24 | $1.5B | $401.3M |
| 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 | $9.8M |
| Free Cash FlowOCF − Capex | — | $8.7M |
| FCF MarginFCF / Revenue | — | 3.4% |
| Capex IntensityCapex / Revenue | — | 0.4% |
| Cash ConversionOCF / Net Profit | 1.77× | 2.77× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-36.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $164.4M | $9.8M | ||
| Q3 25 | $19.8M | $22.8M | ||
| Q2 25 | $-27.0M | $-28.9M | ||
| Q1 25 | $56.8M | $-34.9M | ||
| Q4 24 | $112.9M | $5.5M | ||
| Q3 24 | $-27.4M | $22.9M | ||
| Q2 24 | $212.0K | $39.0K | ||
| Q1 24 | $5.8M | $-9.3M |
| Q4 25 | — | $8.7M | ||
| Q3 25 | — | $21.4M | ||
| Q2 25 | — | $-31.1M | ||
| Q1 25 | — | $-35.9M | ||
| Q4 24 | — | $4.8M | ||
| Q3 24 | — | $22.3M | ||
| Q2 24 | — | $-2.1M | ||
| Q1 24 | — | $-9.7M |
| Q4 25 | — | 3.4% | ||
| Q3 25 | — | 8.2% | ||
| Q2 25 | — | -13.9% | ||
| Q1 25 | — | -16.0% | ||
| Q4 24 | — | 1.7% | ||
| Q3 24 | — | 8.0% | ||
| Q2 24 | — | -1.0% | ||
| Q1 24 | — | -5.1% |
| Q4 25 | — | 0.4% | ||
| Q3 25 | — | 0.5% | ||
| Q2 25 | — | 0.9% | ||
| Q1 25 | — | 0.5% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | — | 0.2% | ||
| Q2 24 | — | 1.0% | ||
| Q1 24 | — | 0.2% |
| Q4 25 | 1.77× | 2.77× | ||
| Q3 25 | — | 10.70× | ||
| Q2 25 | — | -12.24× | ||
| Q1 25 | 7.07× | -13.01× | ||
| Q4 24 | 1.49× | 1.33× | ||
| Q3 24 | — | 4.28× | ||
| Q2 24 | 0.00× | 0.01× | ||
| Q1 24 | 2.08× | -3.12× |
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% |
SDHC
| Southeast | $164.7M | 63% |
| Central | $95.8M | 37% |
