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Side-by-side financial comparison of Madison Square Garden Sports Corp. (MSGS) and Noble Corp plc (NE). Click either name above to swap in a different company.
Noble Corp plc is the larger business by last-quarter revenue ($764.4M vs $403.4M, roughly 1.9× Madison Square Garden Sports Corp.). Noble Corp plc runs the higher net margin — 11.3% vs 2.0%, a 9.3% gap on every dollar of revenue. On growth, Madison Square Garden Sports Corp. posted the faster year-over-year revenue change (12.8% vs -17.6%). Noble Corp plc produced more free cash flow last quarter ($35.4M vs $31.6M). Over the past eight quarters, Noble Corp plc's revenue compounded faster (9.5% CAGR vs -3.1%).
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
Barnes & Noble Booksellers is an American bookseller with the largest number of retail outlets in the United States. The company operates approximately 700+ retail stores across the United States.
MSGS vs NE — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $403.4M | $764.4M |
| Net Profit | $8.2M | $86.6M |
| Gross Margin | — | — |
| Operating Margin | 5.5% | 5.6% |
| Net Margin | 2.0% | 11.3% |
| Revenue YoY | 12.8% | -17.6% |
| Net Profit YoY | 641.9% | -10.4% |
| EPS (diluted) | $0.34 | $0.54 |
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 | $403.4M | $764.4M | ||
| Q3 25 | $39.5M | $798.0M | ||
| Q2 25 | $204.0M | $848.7M | ||
| Q1 25 | $424.2M | $874.5M | ||
| Q4 24 | $357.8M | $927.3M | ||
| Q3 24 | $53.3M | $800.5M | ||
| Q2 24 | $227.3M | $692.8M | ||
| Q1 24 | $430.0M | $637.1M |
| Q4 25 | $8.2M | $86.6M | ||
| Q3 25 | $-8.8M | $-21.1M | ||
| Q2 25 | $-1.8M | $42.9M | ||
| Q1 25 | $-14.2M | $108.3M | ||
| Q4 24 | $1.1M | $96.6M | ||
| Q3 24 | $-7.5M | $61.2M | ||
| Q2 24 | $25.5M | $195.0M | ||
| Q1 24 | $37.9M | $95.5M |
| Q4 25 | 5.5% | 5.6% | ||
| Q3 25 | -69.5% | 6.3% | ||
| Q2 25 | -11.1% | 15.9% | ||
| Q1 25 | 7.6% | 21.4% | ||
| Q4 24 | 3.7% | 18.4% | ||
| Q3 24 | -15.5% | 14.4% | ||
| Q2 24 | 23.0% | 30.3% | ||
| Q1 24 | 18.5% | 16.9% |
| Q4 25 | 2.0% | 11.3% | ||
| Q3 25 | -22.3% | -2.6% | ||
| Q2 25 | -0.9% | 5.1% | ||
| Q1 25 | -3.4% | 12.4% | ||
| Q4 24 | 0.3% | 10.4% | ||
| Q3 24 | -14.1% | 7.6% | ||
| Q2 24 | 11.2% | 28.1% | ||
| Q1 24 | 8.8% | 15.0% |
| Q4 25 | $0.34 | $0.54 | ||
| Q3 25 | $-0.37 | $-0.13 | ||
| Q2 25 | $-0.08 | $0.27 | ||
| Q1 25 | $-0.59 | $0.67 | ||
| Q4 24 | $0.05 | $0.56 | ||
| Q3 24 | $-0.31 | $0.40 | ||
| Q2 24 | $1.07 | $1.34 | ||
| Q1 24 | $1.57 | $0.66 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $81.3M | $471.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-282.1M | $4.5B |
| Total Assets | $1.5B | $7.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $81.3M | $471.4M | ||
| Q3 25 | $48.6M | $477.9M | ||
| Q2 25 | $144.6M | $338.2M | ||
| Q1 25 | $96.5M | $303.8M | ||
| Q4 24 | $107.8M | $247.3M | ||
| Q3 24 | $52.3M | $391.9M | ||
| Q2 24 | $89.1M | $162.9M | ||
| Q1 24 | $40.0M | $212.5M |
| Q4 25 | $-282.1M | $4.5B | ||
| Q3 25 | $-294.2M | $4.5B | ||
| Q2 25 | $-281.4M | $4.6B | ||
| Q1 25 | $-283.4M | $4.7B | ||
| Q4 24 | $-273.1M | $4.7B | ||
| Q3 24 | $-277.5M | $4.7B | ||
| Q2 24 | $-266.3M | $4.0B | ||
| Q1 24 | $-294.0M | $3.9B |
| Q4 25 | $1.5B | $7.5B | ||
| Q3 25 | $1.5B | $7.6B | ||
| Q2 25 | $1.5B | $7.7B | ||
| Q1 25 | $1.5B | $7.9B | ||
| Q4 24 | $1.4B | $8.0B | ||
| Q3 24 | $1.4B | $8.0B | ||
| Q2 24 | $1.3B | $5.6B | ||
| Q1 24 | $1.4B | $5.4B |
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 | $32.4M | $187.1M |
| Free Cash FlowOCF − Capex | $31.6M | $35.4M |
| FCF MarginFCF / Revenue | 7.8% | 4.6% |
| Capex IntensityCapex / Revenue | 0.2% | 19.9% |
| Cash ConversionOCF / Net Profit | 3.94× | 2.16× |
| TTM Free Cash FlowTrailing 4 quarters | $-480.0K | $432.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $32.4M | $187.1M | ||
| Q3 25 | $-85.0M | $277.1M | ||
| Q2 25 | $49.7M | $216.4M | ||
| Q1 25 | $6.3M | $271.1M | ||
| Q4 24 | $61.8M | $136.2M | ||
| Q3 24 | $-26.2M | $283.8M | ||
| Q2 24 | $108.4M | $106.8M | ||
| Q1 24 | $4.0M | $128.7M |
| Q4 25 | $31.6M | $35.4M | ||
| Q3 25 | $-85.3M | $139.5M | ||
| Q2 25 | $49.4M | $99.8M | ||
| Q1 25 | $3.9M | $157.5M | ||
| Q4 24 | $61.2M | $-4.4M | ||
| Q3 24 | $-26.5M | $156.8M | ||
| Q2 24 | $108.0M | $-34.3M | ||
| Q1 24 | $3.9M | $-37.9M |
| Q4 25 | 7.8% | 4.6% | ||
| Q3 25 | -216.3% | 17.5% | ||
| Q2 25 | 24.2% | 11.8% | ||
| Q1 25 | 0.9% | 18.0% | ||
| Q4 24 | 17.1% | -0.5% | ||
| Q3 24 | -49.7% | 19.6% | ||
| Q2 24 | 47.5% | -4.9% | ||
| Q1 24 | 0.9% | -6.0% |
| Q4 25 | 0.2% | 19.9% | ||
| Q3 25 | 0.9% | 17.3% | ||
| Q2 25 | 0.2% | 13.7% | ||
| Q1 25 | 0.6% | 13.0% | ||
| Q4 24 | 0.1% | 15.2% | ||
| Q3 24 | 0.7% | 15.9% | ||
| Q2 24 | 0.2% | 20.4% | ||
| Q1 24 | 0.0% | 26.2% |
| Q4 25 | 3.94× | 2.16× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 5.05× | ||
| Q1 25 | — | 2.50× | ||
| Q4 24 | 55.61× | 1.41× | ||
| Q3 24 | — | 4.64× | ||
| Q2 24 | 4.25× | 0.55× | ||
| Q1 24 | 0.11× | 1.35× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MSGS
| Event Related | $167.2M | 41% |
| Media Rights | $122.3M | 30% |
| Sponsorship Signage And Suite Licenses | $98.5M | 24% |
| League Distribution | $15.4M | 4% |
NE
| Floaters | $559.8M | 73% |
| Jackups | $145.5M | 19% |
| Service Other | $59.1M | 8% |
