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Side-by-side financial comparison of Madison Square Garden Entertainment Corp. (MSGE) and Bio-Techne (TECH). 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 $295.9M, roughly 1.4× Bio-Techne). Madison Square Garden Entertainment Corp. runs the higher net margin — 21.8% vs 12.8%, a 9.0% gap on every dollar of revenue. On growth, Madison Square Garden Entertainment Corp. posted the faster year-over-year revenue change (12.5% vs -6.4%). Over the past eight quarters, Madison Square Garden Entertainment Corp.'s revenue compounded faster (48.9% CAGR vs 4.2%).
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
Bio-Techne Corporation is an American life sciences company that develops, manufactures and sells life science reagents, instruments and services for the research, diagnostic, and bioprocessing markets.
MSGE vs TECH — Head-to-Head
Income Statement — Q2 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $424.8M | $295.9M |
| Net Profit | $92.7M | $38.0M |
| Gross Margin | — | 64.6% |
| Operating Margin | 38.6% | 18.4% |
| Net Margin | 21.8% | 12.8% |
| Revenue YoY | 12.5% | -6.4% |
| Net Profit YoY | 22.2% | 68.3% |
| EPS (diluted) | $1.94 | $0.24 |
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 | $295.9M | ||
| Q3 25 | $154.1M | — | ||
| Q2 25 | $145.1M | $317.0M | ||
| Q1 25 | $206.0M | $316.2M | ||
| Q4 24 | $377.6M | $297.0M | ||
| Q3 24 | $134.1M | $289.5M | ||
| Q2 24 | $177.6M | $306.1M | ||
| Q1 24 | $191.6M | $303.4M |
| Q4 25 | $92.7M | $38.0M | ||
| Q3 25 | $-21.7M | — | ||
| Q2 25 | $-27.2M | $-17.7M | ||
| Q1 25 | $8.0M | $22.6M | ||
| Q4 24 | $75.9M | $34.9M | ||
| Q3 24 | $-19.3M | $33.6M | ||
| Q2 24 | $66.9M | $40.6M | ||
| Q1 24 | $2.8M | $49.1M |
| Q4 25 | — | 64.6% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 62.7% | ||
| Q1 25 | — | 67.9% | ||
| Q4 24 | — | 65.3% | ||
| Q3 24 | — | 63.2% | ||
| Q2 24 | — | 66.4% | ||
| Q1 24 | — | 67.4% |
| Q4 25 | 38.6% | 18.4% | ||
| Q3 25 | -19.3% | — | ||
| Q2 25 | -17.7% | -7.5% | ||
| Q1 25 | 13.3% | 12.2% | ||
| Q4 24 | 36.8% | 16.0% | ||
| Q3 24 | -13.8% | 13.8% | ||
| Q2 24 | -5.0% | 15.0% | ||
| Q1 24 | 8.8% | 22.1% |
| Q4 25 | 21.8% | 12.8% | ||
| Q3 25 | -14.0% | — | ||
| Q2 25 | -18.7% | -5.6% | ||
| Q1 25 | 3.9% | 7.1% | ||
| Q4 24 | 20.1% | 11.7% | ||
| Q3 24 | -14.4% | 11.6% | ||
| Q2 24 | 37.7% | 13.3% | ||
| Q1 24 | 1.5% | 16.2% |
| Q4 25 | $1.94 | $0.24 | ||
| Q3 25 | $-0.46 | — | ||
| Q2 25 | $-0.56 | $-0.11 | ||
| Q1 25 | $0.17 | $0.14 | ||
| Q4 24 | $1.56 | $0.22 | ||
| Q3 24 | $-0.40 | $0.21 | ||
| Q2 24 | $1.32 | $0.26 | ||
| Q1 24 | $0.06 | $0.31 |
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 | $172.9M |
| Total DebtLower is stronger | $554.6M | $260.0M |
| Stockholders' EquityBook value | $36.0M | $2.0B |
| Total Assets | $1.8B | $2.5B |
| Debt / EquityLower = less leverage | 15.40× | 0.13× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $157.1M | $172.9M | ||
| Q3 25 | $29.9M | — | ||
| Q2 25 | $43.0M | $162.2M | ||
| Q1 25 | $89.0M | $140.7M | ||
| Q4 24 | $54.9M | $177.5M | ||
| Q3 24 | $37.3M | $187.5M | ||
| Q2 24 | $33.3M | $152.9M | ||
| Q1 24 | $28.0M | $145.3M |
| Q4 25 | $554.6M | $260.0M | ||
| Q3 25 | $581.7M | — | ||
| Q2 25 | $568.8M | $346.0M | ||
| Q1 25 | $577.4M | $330.0M | ||
| Q4 24 | $584.7M | $300.0M | ||
| Q3 24 | $647.0M | $300.0M | ||
| Q2 24 | $599.2M | $319.0M | ||
| Q1 24 | $602.5M | $389.0M |
| Q4 25 | $36.0M | $2.0B | ||
| Q3 25 | $-65.8M | — | ||
| Q2 25 | $-13.3M | $1.9B | ||
| Q1 25 | $9.5M | $2.0B | ||
| Q4 24 | $10.3M | $2.1B | ||
| Q3 24 | $-48.7M | $2.1B | ||
| Q2 24 | $-23.2M | $2.1B | ||
| Q1 24 | $-94.6M | $2.0B |
| Q4 25 | $1.8B | $2.5B | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.7B | $2.6B | ||
| Q1 25 | $1.7B | $2.6B | ||
| Q4 24 | $1.6B | $2.7B | ||
| Q3 24 | $1.6B | $2.7B | ||
| Q2 24 | $1.6B | $2.7B | ||
| Q1 24 | $1.5B | $2.7B |
| Q4 25 | 15.40× | 0.13× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.18× | ||
| Q1 25 | 60.61× | 0.16× | ||
| Q4 24 | 56.61× | 0.14× | ||
| Q3 24 | — | 0.14× | ||
| Q2 24 | — | 0.15× | ||
| Q1 24 | — | 0.19× |
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 | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 1.77× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $164.4M | — | ||
| Q3 25 | $19.8M | — | ||
| Q2 25 | $-27.0M | $98.2M | ||
| Q1 25 | $56.8M | $41.1M | ||
| Q4 24 | $112.9M | $84.3M | ||
| Q3 24 | $-27.4M | $63.9M | ||
| Q2 24 | $212.0K | $75.5M | ||
| Q1 24 | $5.8M | $81.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $93.3M | ||
| Q1 25 | — | $31.0M | ||
| Q4 24 | — | $77.5M | ||
| Q3 24 | — | $54.7M | ||
| Q2 24 | — | $57.5M | ||
| Q1 24 | — | $64.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 29.4% | ||
| Q1 25 | — | 9.8% | ||
| Q4 24 | — | 26.1% | ||
| Q3 24 | — | 18.9% | ||
| Q2 24 | — | 18.8% | ||
| Q1 24 | — | 21.3% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | — | 3.2% | ||
| Q4 24 | — | 2.3% | ||
| Q3 24 | — | 3.2% | ||
| Q2 24 | — | 5.9% | ||
| Q1 24 | — | 5.4% |
| Q4 25 | 1.77× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 7.07× | 1.82× | ||
| Q4 24 | 1.49× | 2.42× | ||
| Q3 24 | — | 1.90× | ||
| Q2 24 | 0.00× | 1.86× | ||
| Q1 24 | 2.08× | 1.65× |
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% |
TECH
| Diagnostics And Spatial Biology | $81.2M | 27% |
| EMEA Excluding UK | $75.4M | 25% |
| Other | $42.4M | 14% |
| Instruments | $29.6M | 10% |
| APAC Excluding Greater China | $22.7M | 8% |
| Services | $22.3M | 8% |
| GB | $13.7M | 5% |
| Royalty | $8.5M | 3% |
