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Side-by-side financial comparison of Madison Square Garden Sports Corp. (MSGS) and New Fortress Energy Inc. (NFE). Click either name above to swap in a different company.
Madison Square Garden Sports Corp. is the larger business by last-quarter revenue ($403.4M vs $326.2M, roughly 1.2× New Fortress Energy Inc.). Madison Square Garden Sports Corp. runs the higher net margin — 2.0% vs -259.7%, a 261.7% gap on every dollar of revenue. On growth, Madison Square Garden Sports Corp. posted the faster year-over-year revenue change (12.8% vs -7.0%). Madison Square Garden Sports Corp. produced more free cash flow last quarter ($31.6M vs $-134.8M). Over the past eight quarters, Madison Square Garden Sports Corp.'s revenue compounded faster (-3.1% CAGR vs -26.8%).
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
New Fortress Energy Inc. is a global energy infrastructure firm developing, owning and operating LNG import/export terminals, natural gas supply networks and low-carbon projects. It serves utility, industrial and public sector clients across the Americas and Caribbean, delivering affordable, lower-emission energy resources.
MSGS vs NFE — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $403.4M | $326.2M |
| Net Profit | $8.2M | $-847.1M |
| Gross Margin | — | 35.5% |
| Operating Margin | 5.5% | -193.0% |
| Net Margin | 2.0% | -259.7% |
| Revenue YoY | 12.8% | -7.0% |
| Net Profit YoY | 641.9% | -277.4% |
| EPS (diluted) | $0.34 | $-3.03 |
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 | $326.2M | ||
| Q3 25 | $39.5M | $240.3M | ||
| Q2 25 | $204.0M | $228.1M | ||
| Q1 25 | $424.2M | $384.9M | ||
| Q4 24 | $357.8M | $350.7M | ||
| Q3 24 | $53.3M | $446.0M | ||
| Q2 24 | $227.3M | $291.2M | ||
| Q1 24 | $430.0M | $609.5M |
| Q4 25 | $8.2M | $-847.1M | ||
| Q3 25 | $-8.8M | $-263.0M | ||
| Q2 25 | $-1.8M | $-546.5M | ||
| Q1 25 | $-14.2M | $-175.4M | ||
| Q4 24 | $1.1M | $-224.4M | ||
| Q3 24 | $-7.5M | $9.3M | ||
| Q2 24 | $25.5M | $-88.9M | ||
| Q1 24 | $37.9M | $54.1M |
| Q4 25 | — | 35.5% | ||
| Q3 25 | — | 18.1% | ||
| Q2 25 | — | 8.4% | ||
| Q1 25 | — | 21.4% | ||
| Q4 24 | — | 17.6% | ||
| Q3 24 | — | 27.1% | ||
| Q2 24 | — | 23.8% | ||
| Q1 24 | — | 62.4% |
| Q4 25 | 5.5% | -193.0% | ||
| Q3 25 | -69.5% | -37.4% | ||
| Q2 25 | -11.1% | -170.3% | ||
| Q1 25 | 7.6% | -3.3% | ||
| Q4 24 | 3.7% | 65.0% | ||
| Q3 24 | -15.5% | 17.8% | ||
| Q2 24 | 23.0% | 12.3% | ||
| Q1 24 | 18.5% | 30.4% |
| Q4 25 | 2.0% | -259.7% | ||
| Q3 25 | -22.3% | -109.4% | ||
| Q2 25 | -0.9% | -239.6% | ||
| Q1 25 | -3.4% | -45.6% | ||
| Q4 24 | 0.3% | -64.0% | ||
| Q3 24 | -14.1% | 2.1% | ||
| Q2 24 | 11.2% | -30.5% | ||
| Q1 24 | 8.8% | 8.9% |
| Q4 25 | $0.34 | $-3.03 | ||
| Q3 25 | $-0.37 | $-0.96 | ||
| Q2 25 | $-0.08 | $-1.99 | ||
| Q1 25 | $-0.59 | $-0.65 | ||
| Q4 24 | $0.05 | $-1.10 | ||
| Q3 24 | $-0.31 | $0.03 | ||
| Q2 24 | $1.07 | $-0.42 | ||
| Q1 24 | $1.57 | $0.23 |
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 | $226.5M |
| Total DebtLower is stronger | — | $8.2B |
| Stockholders' EquityBook value | $-282.1M | $182.6M |
| Total Assets | $1.5B | $10.6B |
| Debt / EquityLower = less leverage | — | 44.78× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $81.3M | $226.5M | ||
| Q3 25 | $48.6M | $145.2M | ||
| Q2 25 | $144.6M | $551.1M | ||
| Q1 25 | $96.5M | $447.9M | ||
| Q4 24 | $107.8M | $492.9M | ||
| Q3 24 | $52.3M | $90.8M | ||
| Q2 24 | $89.1M | $133.0M | ||
| Q1 24 | $40.0M | $143.5M |
| Q4 25 | — | $8.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $8.9B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $-282.1M | $182.6M | ||
| Q3 25 | $-294.2M | $1.1B | ||
| Q2 25 | $-281.4M | $1.3B | ||
| Q1 25 | $-283.4M | $1.8B | ||
| Q4 24 | $-273.1M | $1.9B | ||
| Q3 24 | $-277.5M | $1.6B | ||
| Q2 24 | $-266.3M | $1.6B | ||
| Q1 24 | $-294.0M | $1.7B |
| Q4 25 | $1.5B | $10.6B | ||
| Q3 25 | $1.5B | $12.0B | ||
| Q2 25 | $1.5B | $12.0B | ||
| Q1 25 | $1.5B | $13.1B | ||
| Q4 24 | $1.4B | $12.9B | ||
| Q3 24 | $1.4B | $12.0B | ||
| Q2 24 | $1.3B | $11.4B | ||
| Q1 24 | $1.4B | $10.9B |
| Q4 25 | — | 44.78× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 4.74× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $32.4M | $-76.2M |
| Free Cash FlowOCF − Capex | $31.6M | $-134.8M |
| FCF MarginFCF / Revenue | 7.8% | -41.3% |
| Capex IntensityCapex / Revenue | 0.2% | 18.0% |
| Cash ConversionOCF / Net Profit | 3.94× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-480.0K | $-1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $32.4M | $-76.2M | ||
| Q3 25 | $-85.0M | $-171.0M | ||
| Q2 25 | $49.7M | $-329.0M | ||
| Q1 25 | $6.3M | $-7.2M | ||
| Q4 24 | $61.8M | $445.3M | ||
| Q3 24 | $-26.2M | $-20.0M | ||
| Q2 24 | $108.4M | $113.9M | ||
| Q1 24 | $4.0M | $63.0M |
| Q4 25 | $31.6M | $-134.8M | ||
| Q3 25 | $-85.3M | $-231.6M | ||
| Q2 25 | $49.4M | $-726.7M | ||
| Q1 25 | $3.9M | $-262.3M | ||
| Q4 24 | $61.2M | $-210.3M | ||
| Q3 24 | $-26.5M | $-367.0M | ||
| Q2 24 | $108.0M | $-493.2M | ||
| Q1 24 | $3.9M | $-457.9M |
| Q4 25 | 7.8% | -41.3% | ||
| Q3 25 | -216.3% | -96.4% | ||
| Q2 25 | 24.2% | -318.6% | ||
| Q1 25 | 0.9% | -68.2% | ||
| Q4 24 | 17.1% | -60.0% | ||
| Q3 24 | -49.7% | -82.3% | ||
| Q2 24 | 47.5% | -169.3% | ||
| Q1 24 | 0.9% | -75.1% |
| Q4 25 | 0.2% | 18.0% | ||
| Q3 25 | 0.9% | 25.2% | ||
| Q2 25 | 0.2% | 174.4% | ||
| Q1 25 | 0.6% | 66.3% | ||
| Q4 24 | 0.1% | 187.0% | ||
| Q3 24 | 0.7% | 77.8% | ||
| Q2 24 | 0.2% | 208.4% | ||
| Q1 24 | 0.0% | 85.5% |
| Q4 25 | 3.94× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 55.61× | — | ||
| Q3 24 | — | -2.15× | ||
| Q2 24 | 4.25× | — | ||
| Q1 24 | 0.11× | 1.16× |
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% |
NFE
Segment breakdown not available.
