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Side-by-side financial comparison of Madison Square Garden Entertainment Corp. (MSGE) and Tecnoglass Inc. (TGLS). 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 $245.3M, roughly 1.7× Tecnoglass Inc.). Madison Square Garden Entertainment Corp. runs the higher net margin — 21.8% vs 10.6%, a 11.2% gap on every dollar of revenue. On growth, Madison Square Garden Entertainment Corp. posted the faster year-over-year revenue change (12.5% vs 2.4%). Over the past eight quarters, Madison Square Garden Entertainment Corp.'s revenue compounded faster (48.9% CAGR vs 12.8%).
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
Tecnoglass Inc. is a leading manufacturer of high-performance architectural glass, aluminum windows, doors, and associated building components. It primarily caters to residential and commercial construction sectors across North America and Latin America, offering custom, energy-efficient solutions for new construction and renovation projects.
MSGE vs TGLS — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $424.8M | $245.3M |
| Net Profit | $92.7M | $26.1M |
| Gross Margin | — | 40.0% |
| Operating Margin | 38.6% | 18.3% |
| Net Margin | 21.8% | 10.6% |
| Revenue YoY | 12.5% | 2.4% |
| Net Profit YoY | 22.2% | -44.5% |
| EPS (diluted) | $1.94 | $0.57 |
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 | $245.3M | ||
| Q3 25 | $154.1M | $260.5M | ||
| Q2 25 | $145.1M | $255.5M | ||
| Q1 25 | $206.0M | $222.3M | ||
| Q4 24 | $377.6M | $239.6M | ||
| Q3 24 | $134.1M | $238.3M | ||
| Q2 24 | $177.6M | $219.7M | ||
| Q1 24 | $191.6M | $192.6M |
| Q4 25 | $92.7M | $26.1M | ||
| Q3 25 | $-21.7M | $47.2M | ||
| Q2 25 | $-27.2M | $44.1M | ||
| Q1 25 | $8.0M | $42.2M | ||
| Q4 24 | $75.9M | $47.0M | ||
| Q3 24 | $-19.3M | $49.5M | ||
| Q2 24 | $66.9M | $35.0M | ||
| Q1 24 | $2.8M | $29.7M |
| Q4 25 | — | 40.0% | ||
| Q3 25 | — | 42.7% | ||
| Q2 25 | — | 44.7% | ||
| Q1 25 | — | 43.9% | ||
| Q4 24 | — | 44.5% | ||
| Q3 24 | — | 45.8% | ||
| Q2 24 | — | 40.8% | ||
| Q1 24 | — | 38.8% |
| Q4 25 | 38.6% | 18.3% | ||
| Q3 25 | -19.3% | 25.1% | ||
| Q2 25 | -17.7% | 24.0% | ||
| Q1 25 | 13.3% | 26.7% | ||
| Q4 24 | 36.8% | 28.0% | ||
| Q3 24 | -13.8% | 28.4% | ||
| Q2 24 | -5.0% | 23.3% | ||
| Q1 24 | 8.8% | 21.3% |
| Q4 25 | 21.8% | 10.6% | ||
| Q3 25 | -14.0% | 18.1% | ||
| Q2 25 | -18.7% | 17.3% | ||
| Q1 25 | 3.9% | 19.0% | ||
| Q4 24 | 20.1% | 19.6% | ||
| Q3 24 | -14.4% | 20.8% | ||
| Q2 24 | 37.7% | 15.9% | ||
| Q1 24 | 1.5% | 15.4% |
| Q4 25 | $1.94 | $0.57 | ||
| Q3 25 | $-0.46 | $1.01 | ||
| Q2 25 | $-0.56 | $0.94 | ||
| Q1 25 | $0.17 | $0.90 | ||
| Q4 24 | $1.56 | $1.00 | ||
| Q3 24 | $-0.40 | $1.05 | ||
| Q2 24 | $1.32 | $0.75 | ||
| Q1 24 | $0.06 | $0.63 |
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 | $174.4M |
| Stockholders' EquityBook value | $36.0M | $713.1M |
| Total Assets | $1.8B | $1.3B |
| Debt / EquityLower = less leverage | 15.40× | 0.24× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $157.1M | $104.1M | ||
| Q3 25 | $29.9M | $127.1M | ||
| Q2 25 | $43.0M | $140.9M | ||
| Q1 25 | $89.0M | $160.2M | ||
| Q4 24 | $54.9M | $137.5M | ||
| Q3 24 | $37.3M | $124.8M | ||
| Q2 24 | $33.3M | $129.5M | ||
| Q1 24 | $28.0M | $138.8M |
| Q4 25 | $554.6M | $174.4M | ||
| Q3 25 | $581.7M | $114.7M | ||
| Q2 25 | $568.8M | $110.6M | ||
| Q1 25 | $577.4M | $110.6M | ||
| Q4 24 | $584.7M | $111.1M | ||
| Q3 24 | $647.0M | $126.8M | ||
| Q2 24 | $599.2M | $144.7M | ||
| Q1 24 | $602.5M | $160.9M |
| Q4 25 | $36.0M | $713.1M | ||
| Q3 25 | $-65.8M | $764.0M | ||
| Q2 25 | $-13.3M | $736.0M | ||
| Q1 25 | $9.5M | $685.1M | ||
| Q4 24 | $10.3M | $631.2M | ||
| Q3 24 | $-48.7M | $613.3M | ||
| Q2 24 | $-23.2M | $574.8M | ||
| Q1 24 | $-94.6M | $573.6M |
| Q4 25 | $1.8B | $1.3B | ||
| Q3 25 | $1.7B | $1.2B | ||
| Q2 25 | $1.7B | $1.2B | ||
| Q1 25 | $1.7B | $1.1B | ||
| Q4 24 | $1.6B | $1.0B | ||
| Q3 24 | $1.6B | $996.3M | ||
| Q2 24 | $1.6B | $942.5M | ||
| Q1 24 | $1.5B | $981.6M |
| Q4 25 | 15.40× | 0.24× | ||
| Q3 25 | — | 0.15× | ||
| Q2 25 | — | 0.15× | ||
| Q1 25 | 60.61× | 0.16× | ||
| Q4 24 | 56.61× | 0.18× | ||
| Q3 24 | — | 0.21× | ||
| Q2 24 | — | 0.25× | ||
| Q1 24 | — | 0.28× |
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 | $31.0M |
| Free Cash FlowOCF − Capex | — | $11.4M |
| FCF MarginFCF / Revenue | — | 4.7% |
| Capex IntensityCapex / Revenue | — | 8.0% |
| Cash ConversionOCF / Net Profit | 1.77× | 1.19× |
| TTM Free Cash FlowTrailing 4 quarters | — | $34.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $164.4M | $31.0M | ||
| Q3 25 | $19.8M | $40.0M | ||
| Q2 25 | $-27.0M | $17.9M | ||
| Q1 25 | $56.8M | $46.9M | ||
| Q4 24 | $112.9M | $61.1M | ||
| Q3 24 | $-27.4M | $41.5M | ||
| Q2 24 | $212.0K | $34.5M | ||
| Q1 24 | $5.8M | $33.4M |
| Q4 25 | — | $11.4M | ||
| Q3 25 | — | $21.2M | ||
| Q2 25 | — | $-14.7M | ||
| Q1 25 | — | $16.5M | ||
| Q4 24 | — | $35.4M | ||
| Q3 24 | — | $17.8M | ||
| Q2 24 | — | $14.2M | ||
| Q1 24 | — | $23.6M |
| Q4 25 | — | 4.7% | ||
| Q3 25 | — | 8.2% | ||
| Q2 25 | — | -5.7% | ||
| Q1 25 | — | 7.4% | ||
| Q4 24 | — | 14.8% | ||
| Q3 24 | — | 7.5% | ||
| Q2 24 | — | 6.5% | ||
| Q1 24 | — | 12.2% |
| Q4 25 | — | 8.0% | ||
| Q3 25 | — | 7.2% | ||
| Q2 25 | — | 12.7% | ||
| Q1 25 | — | 13.7% | ||
| Q4 24 | — | 10.7% | ||
| Q3 24 | — | 9.9% | ||
| Q2 24 | — | 9.2% | ||
| Q1 24 | — | 5.1% |
| Q4 25 | 1.77× | 1.19× | ||
| Q3 25 | — | 0.85× | ||
| Q2 25 | — | 0.41× | ||
| Q1 25 | 7.07× | 1.11× | ||
| Q4 24 | 1.49× | 1.30× | ||
| Q3 24 | — | 0.84× | ||
| Q2 24 | 0.00× | 0.98× | ||
| Q1 24 | 2.08× | 1.13× |
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% |
TGLS
| Product Sales | $164.2M | 67% |
| Fixed Price Contracts | $81.1M | 33% |
| Related Party | $692.0K | 0% |
