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Side-by-side financial comparison of Madison Square Garden Entertainment Corp. (MSGE) and WORKIVA INC (WK). 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 $247.3M, roughly 1.7× WORKIVA INC). Madison Square Garden Entertainment Corp. runs the higher net margin — 21.8% vs 7.7%, a 14.1% gap on every dollar of revenue. On growth, WORKIVA INC posted the faster year-over-year revenue change (19.9% vs 12.5%). Over the past eight quarters, Madison Square Garden Entertainment Corp.'s revenue compounded faster (48.9% CAGR vs 18.0%).
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
Workiva, Inc. is a global software-as-a-service (SaaS) company. It provides a cloud-based connected and reporting compliance platform that enables the use of connected data and automation of reporting across finance, accounting, risk, and compliance.
MSGE vs WK — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $424.8M | $247.3M |
| Net Profit | $92.7M | $19.0M |
| Gross Margin | — | 80.4% |
| Operating Margin | 38.6% | 25.8% |
| Net Margin | 21.8% | 7.7% |
| Revenue YoY | 12.5% | 19.9% |
| Net Profit YoY | 22.2% | — |
| EPS (diluted) | $1.94 | $0.33 |
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.
| Q1 26 | — | $247.3M | ||
| Q4 25 | $424.8M | $238.9M | ||
| Q3 25 | $154.1M | $224.2M | ||
| Q2 25 | $145.1M | $215.2M | ||
| Q1 25 | $206.0M | $206.3M | ||
| Q4 24 | $377.6M | $199.9M | ||
| Q3 24 | $134.1M | $185.6M | ||
| Q2 24 | $177.6M | $177.5M |
| Q1 26 | — | $19.0M | ||
| Q4 25 | $92.7M | $11.8M | ||
| Q3 25 | $-21.7M | $2.8M | ||
| Q2 25 | $-27.2M | $-19.4M | ||
| Q1 25 | $8.0M | $-21.4M | ||
| Q4 24 | $75.9M | $-8.8M | ||
| Q3 24 | $-19.3M | $-17.0M | ||
| Q2 24 | $66.9M | $-17.5M |
| Q1 26 | — | 80.4% | ||
| Q4 25 | — | 80.7% | ||
| Q3 25 | — | 79.3% | ||
| Q2 25 | — | 77.0% | ||
| Q1 25 | — | 76.6% | ||
| Q4 24 | — | 77.1% | ||
| Q3 24 | — | 76.5% | ||
| Q2 24 | — | 76.8% |
| Q1 26 | — | 25.8% | ||
| Q4 25 | 38.6% | 3.3% | ||
| Q3 25 | -19.3% | -1.5% | ||
| Q2 25 | -17.7% | -10.3% | ||
| Q1 25 | 13.3% | -12.0% | ||
| Q4 24 | 36.8% | -6.7% | ||
| Q3 24 | -13.8% | -11.7% | ||
| Q2 24 | -5.0% | -13.0% |
| Q1 26 | — | 7.7% | ||
| Q4 25 | 21.8% | 4.9% | ||
| Q3 25 | -14.0% | 1.2% | ||
| Q2 25 | -18.7% | -9.0% | ||
| Q1 25 | 3.9% | -10.4% | ||
| Q4 24 | 20.1% | -4.4% | ||
| Q3 24 | -14.4% | -9.2% | ||
| Q2 24 | 37.7% | -9.9% |
| Q1 26 | — | $0.33 | ||
| Q4 25 | $1.94 | $0.21 | ||
| Q3 25 | $-0.46 | $0.05 | ||
| Q2 25 | $-0.56 | $-0.35 | ||
| Q1 25 | $0.17 | $-0.38 | ||
| Q4 24 | $1.56 | $-0.15 | ||
| Q3 24 | $-0.40 | $-0.31 | ||
| Q2 24 | $1.32 | $-0.32 |
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 | $334.3M |
| Total DebtLower is stronger | $554.6M | — |
| Stockholders' EquityBook value | $36.0M | — |
| Total Assets | $1.8B | $1.4B |
| Debt / EquityLower = less leverage | 15.40× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $334.3M | ||
| Q4 25 | $157.1M | $338.8M | ||
| Q3 25 | $29.9M | $315.9M | ||
| Q2 25 | $43.0M | $284.3M | ||
| Q1 25 | $89.0M | $242.0M | ||
| Q4 24 | $54.9M | $301.8M | ||
| Q3 24 | $37.3M | $248.2M | ||
| Q2 24 | $33.3M | $267.9M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | $36.0M | $-5.4M | ||
| Q3 25 | $-65.8M | $-36.9M | ||
| Q2 25 | $-13.3M | $-66.5M | ||
| Q1 25 | $9.5M | $-75.7M | ||
| Q4 24 | $10.3M | $-41.7M | ||
| Q3 24 | $-48.7M | $-50.8M | ||
| Q2 24 | $-23.2M | $-77.7M |
| Q1 26 | — | $1.4B | ||
| Q4 25 | $1.8B | $1.5B | ||
| Q3 25 | $1.7B | $1.4B | ||
| Q2 25 | $1.7B | $1.3B | ||
| Q1 25 | $1.7B | $1.3B | ||
| Q4 24 | $1.6B | $1.4B | ||
| Q3 24 | $1.6B | $1.3B | ||
| Q2 24 | $1.6B | $1.2B |
| Q1 26 | — | — | ||
| Q4 25 | 15.40× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 60.61× | — | ||
| Q4 24 | 56.61× | — | ||
| Q3 24 | — | — | ||
| Q2 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 | — |
| Free Cash FlowOCF − Capex | — | $25.7M |
| FCF MarginFCF / Revenue | — | 10.4% |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 1.77× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $171.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $164.4M | $51.0M | ||
| Q3 25 | $19.8M | $46.2M | ||
| Q2 25 | $-27.0M | $50.3M | ||
| Q1 25 | $56.8M | $-7.4M | ||
| Q4 24 | $112.9M | $44.0M | ||
| Q3 24 | $-27.4M | $18.9M | ||
| Q2 24 | $212.0K | $-14.0K |
| Q1 26 | — | $25.7M | ||
| Q4 25 | — | $50.7M | ||
| Q3 25 | — | $46.1M | ||
| Q2 25 | — | $49.3M | ||
| Q1 25 | — | $-8.1M | ||
| Q4 24 | — | $43.2M | ||
| Q3 24 | — | $18.7M | ||
| Q2 24 | — | $-122.0K |
| Q1 26 | — | 10.4% | ||
| Q4 25 | — | 21.2% | ||
| Q3 25 | — | 20.5% | ||
| Q2 25 | — | 22.9% | ||
| Q1 25 | — | -3.9% | ||
| Q4 24 | — | 21.6% | ||
| Q3 24 | — | 10.1% | ||
| Q2 24 | — | -0.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 0.0% | ||
| Q2 25 | — | 0.5% | ||
| Q1 25 | — | 0.4% | ||
| Q4 24 | — | 0.4% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | 0.1% |
| Q1 26 | — | — | ||
| Q4 25 | 1.77× | 4.31× | ||
| Q3 25 | — | 16.57× | ||
| Q2 25 | — | — | ||
| Q1 25 | 7.07× | — | ||
| Q4 24 | 1.49× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.00× | — |
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% |
WK
| Subscription and support | $225.4M | 91% |
| Other | $22.0M | 9% |
