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Side-by-side financial comparison of Madison Square Garden Entertainment Corp. (MSGE) and WillScot Holdings Corp (WSC). Click either name above to swap in a different company.
WillScot Holdings Corp is the larger business by last-quarter revenue ($566.0M vs $424.8M, roughly 1.3× Madison Square Garden Entertainment Corp.). Madison Square Garden Entertainment Corp. runs the higher net margin — 21.8% vs -33.1%, a 54.9% gap on every dollar of revenue. On growth, Madison Square Garden Entertainment Corp. posted the faster year-over-year revenue change (12.5% vs -6.1%). Over the past eight quarters, Madison Square Garden Entertainment Corp.'s revenue compounded faster (48.9% CAGR vs -1.8%).
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
WillScot Holdings Corp is a leading provider of modular space solutions and portable storage services across North America. It serves a wide range of sectors including construction, commercial development, education, healthcare, government projects, and special events, offering flexible, scalable temporary and semi-permanent space solutions tailored to diverse client needs.
MSGE vs WSC — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $424.8M | $566.0M |
| Net Profit | $92.7M | $-187.3M |
| Gross Margin | — | 50.4% |
| Operating Margin | 38.6% | -32.5% |
| Net Margin | 21.8% | -33.1% |
| Revenue YoY | 12.5% | -6.1% |
| Net Profit YoY | 22.2% | -310.0% |
| EPS (diluted) | $1.94 | $-1.02 |
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 | $566.0M | ||
| Q3 25 | $154.1M | $566.8M | ||
| Q2 25 | $145.1M | $589.1M | ||
| Q1 25 | $206.0M | $559.6M | ||
| Q4 24 | $377.6M | $602.5M | ||
| Q3 24 | $134.1M | $601.4M | ||
| Q2 24 | $177.6M | $604.6M | ||
| Q1 24 | $191.6M | $587.2M |
| Q4 25 | $92.7M | $-187.3M | ||
| Q3 25 | $-21.7M | $43.3M | ||
| Q2 25 | $-27.2M | $47.9M | ||
| Q1 25 | $8.0M | $43.1M | ||
| Q4 24 | $75.9M | $89.2M | ||
| Q3 24 | $-19.3M | $-70.5M | ||
| Q2 24 | $66.9M | $-46.9M | ||
| Q1 24 | $2.8M | $56.2M |
| Q4 25 | — | 50.4% | ||
| Q3 25 | — | 49.7% | ||
| Q2 25 | — | 50.3% | ||
| Q1 25 | — | 53.7% | ||
| Q4 24 | — | 55.8% | ||
| Q3 24 | — | 53.5% | ||
| Q2 24 | — | 54.1% | ||
| Q1 24 | — | 54.0% |
| Q4 25 | 38.6% | -32.5% | ||
| Q3 25 | -19.3% | 21.0% | ||
| Q2 25 | -17.7% | 21.5% | ||
| Q1 25 | 13.3% | 21.3% | ||
| Q4 24 | 36.8% | 28.9% | ||
| Q3 24 | -13.8% | -5.9% | ||
| Q2 24 | -5.0% | -0.9% | ||
| Q1 24 | 8.8% | 22.1% |
| Q4 25 | 21.8% | -33.1% | ||
| Q3 25 | -14.0% | 7.6% | ||
| Q2 25 | -18.7% | 8.1% | ||
| Q1 25 | 3.9% | 7.7% | ||
| Q4 24 | 20.1% | 14.8% | ||
| Q3 24 | -14.4% | -11.7% | ||
| Q2 24 | 37.7% | -7.7% | ||
| Q1 24 | 1.5% | 9.6% |
| Q4 25 | $1.94 | $-1.02 | ||
| Q3 25 | $-0.46 | $0.24 | ||
| Q2 25 | $-0.56 | $0.26 | ||
| Q1 25 | $0.17 | $0.23 | ||
| Q4 24 | $1.56 | $0.48 | ||
| Q3 24 | $-0.40 | $-0.37 | ||
| Q2 24 | $1.32 | $-0.25 | ||
| Q1 24 | $0.06 | $0.29 |
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 | $14.6M |
| Total DebtLower is stronger | $554.6M | $3.6B |
| Stockholders' EquityBook value | $36.0M | $856.3M |
| Total Assets | $1.8B | $5.8B |
| Debt / EquityLower = less leverage | 15.40× | 4.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $157.1M | $14.6M | ||
| Q3 25 | $29.9M | $14.8M | ||
| Q2 25 | $43.0M | $12.8M | ||
| Q1 25 | $89.0M | $10.7M | ||
| Q4 24 | $54.9M | $9.0M | ||
| Q3 24 | $37.3M | $11.0M | ||
| Q2 24 | $33.3M | $5.9M | ||
| Q1 24 | $28.0M | $13.1M |
| Q4 25 | $554.6M | $3.6B | ||
| Q3 25 | $581.7M | $3.6B | ||
| Q2 25 | $568.8M | $3.7B | ||
| Q1 25 | $577.4M | $3.6B | ||
| Q4 24 | $584.7M | $3.7B | ||
| Q3 24 | $647.0M | $3.6B | ||
| Q2 24 | $599.2M | $3.5B | ||
| Q1 24 | $602.5M | $3.5B |
| Q4 25 | $36.0M | $856.3M | ||
| Q3 25 | $-65.8M | $1.1B | ||
| Q2 25 | $-13.3M | $1.0B | ||
| Q1 25 | $9.5M | $1.0B | ||
| Q4 24 | $10.3M | $1.0B | ||
| Q3 24 | $-48.7M | $1.1B | ||
| Q2 24 | $-23.2M | $1.2B | ||
| Q1 24 | $-94.6M | $1.3B |
| Q4 25 | $1.8B | $5.8B | ||
| Q3 25 | $1.7B | $6.1B | ||
| Q2 25 | $1.7B | $6.1B | ||
| Q1 25 | $1.7B | $6.0B | ||
| Q4 24 | $1.6B | $6.0B | ||
| Q3 24 | $1.6B | $6.0B | ||
| Q2 24 | $1.6B | $6.0B | ||
| Q1 24 | $1.5B | $6.2B |
| Q4 25 | 15.40× | 4.15× | ||
| Q3 25 | — | 3.39× | ||
| Q2 25 | — | 3.55× | ||
| Q1 25 | 60.61× | 3.56× | ||
| Q4 24 | 56.61× | 3.62× | ||
| Q3 24 | — | 3.42× | ||
| Q2 24 | — | 2.88× | ||
| Q1 24 | — | 2.63× |
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 | $158.9M |
| Free Cash FlowOCF − Capex | — | $149.7M |
| FCF MarginFCF / Revenue | — | 26.5% |
| Capex IntensityCapex / Revenue | — | 1.6% |
| Cash ConversionOCF / Net Profit | 1.77× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $737.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $164.4M | $158.9M | ||
| Q3 25 | $19.8M | $191.2M | ||
| Q2 25 | $-27.0M | $205.3M | ||
| Q1 25 | $56.8M | $206.6M | ||
| Q4 24 | $112.9M | $178.9M | ||
| Q3 24 | $-27.4M | $-1.6M | ||
| Q2 24 | $212.0K | $175.6M | ||
| Q1 24 | $5.8M | $208.7M |
| Q4 25 | — | $149.7M | ||
| Q3 25 | — | $186.9M | ||
| Q2 25 | — | $199.0M | ||
| Q1 25 | — | $202.0M | ||
| Q4 24 | — | $176.6M | ||
| Q3 24 | — | $-4.9M | ||
| Q2 24 | — | $169.4M | ||
| Q1 24 | — | $202.1M |
| Q4 25 | — | 26.5% | ||
| Q3 25 | — | 33.0% | ||
| Q2 25 | — | 33.8% | ||
| Q1 25 | — | 36.1% | ||
| Q4 24 | — | 29.3% | ||
| Q3 24 | — | -0.8% | ||
| Q2 24 | — | 28.0% | ||
| Q1 24 | — | 34.4% |
| Q4 25 | — | 1.6% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | 1.1% | ||
| Q1 25 | — | 0.8% | ||
| Q4 24 | — | 0.4% | ||
| Q3 24 | — | 0.6% | ||
| Q2 24 | — | 1.0% | ||
| Q1 24 | — | 1.1% |
| Q4 25 | 1.77× | — | ||
| Q3 25 | — | 4.41× | ||
| Q2 25 | — | 4.28× | ||
| Q1 25 | 7.07× | 4.80× | ||
| Q4 24 | 1.49× | 2.01× | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.00× | — | ||
| Q1 24 | 2.08× | 3.71× |
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% |
WSC
| Modular Space Leasing | $249.8M | 44% |
| Value Added Product And Services | $101.0M | 18% |
| Portable Storage Leasing | $83.0M | 15% |
| Delivery Revenue | $48.2M | 9% |
| Installation Revenue | $45.0M | 8% |
| Rental Units | $19.7M | 3% |
| New Units | $15.5M | 3% |
| Value Added Services | $10.3M | 2% |
| Other Leasing Related Products And Services | $3.8M | 1% |
