vs
Side-by-side financial comparison of Madison Square Garden Sports Corp. (MSGS) and Natural Grocers by Vitamin Cottage, Inc. (NGVC). 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 $335.6M, roughly 1.2× Natural Grocers by Vitamin Cottage, Inc.). Natural Grocers by Vitamin Cottage, Inc. runs the higher net margin — 3.4% vs 2.0%, a 1.3% gap on every dollar of revenue. On growth, Madison Square Garden Sports Corp. posted the faster year-over-year revenue change (12.8% vs 1.6%). Madison Square Garden Sports Corp. produced more free cash flow last quarter ($31.6M vs $11.6M). Over the past eight quarters, Natural Grocers by Vitamin Cottage, Inc.'s revenue compounded faster (4.4% CAGR vs -3.1%).
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
Natural Grocers by Vitamin Cottage, Inc. is a U.S.-based specialty retail chain that offers certified organic groceries, dietary supplements, natural personal care items, and eco-friendly household products. It serves health-conscious consumers across multiple U.S. states, following strict quality standards that exclude artificial preservatives, colors, flavors and harmful additives.
MSGS vs NGVC — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $403.4M | $335.6M |
| Net Profit | $8.2M | $11.3M |
| Gross Margin | — | 29.5% |
| Operating Margin | 5.5% | 4.4% |
| Net Margin | 2.0% | 3.4% |
| Revenue YoY | 12.8% | 1.6% |
| Net Profit YoY | 641.9% | 14.0% |
| EPS (diluted) | $0.34 | $0.49 |
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 | $335.6M | ||
| Q3 25 | $39.5M | $336.1M | ||
| Q2 25 | $204.0M | $328.7M | ||
| Q1 25 | $424.2M | $335.8M | ||
| Q4 24 | $357.8M | $330.2M | ||
| Q3 24 | $53.3M | $322.7M | ||
| Q2 24 | $227.3M | $309.1M | ||
| Q1 24 | $430.0M | $308.1M |
| Q4 25 | $8.2M | $11.3M | ||
| Q3 25 | $-8.8M | $11.8M | ||
| Q2 25 | $-1.8M | $11.6M | ||
| Q1 25 | $-14.2M | $13.1M | ||
| Q4 24 | $1.1M | $9.9M | ||
| Q3 24 | $-7.5M | $9.0M | ||
| Q2 24 | $25.5M | $9.2M | ||
| Q1 24 | $37.9M | $8.0M |
| Q4 25 | — | 29.5% | ||
| Q3 25 | — | 29.5% | ||
| Q2 25 | — | 29.9% | ||
| Q1 25 | — | 30.3% | ||
| Q4 24 | — | 29.9% | ||
| Q3 24 | — | 29.6% | ||
| Q2 24 | — | 29.2% | ||
| Q1 24 | — | 29.3% |
| Q4 25 | 5.5% | 4.4% | ||
| Q3 25 | -69.5% | 4.6% | ||
| Q2 25 | -11.1% | 4.7% | ||
| Q1 25 | 7.6% | 5.2% | ||
| Q4 24 | 3.7% | 4.0% | ||
| Q3 24 | -15.5% | 3.7% | ||
| Q2 24 | 23.0% | 4.2% | ||
| Q1 24 | 18.5% | 3.7% |
| Q4 25 | 2.0% | 3.4% | ||
| Q3 25 | -22.3% | 3.5% | ||
| Q2 25 | -0.9% | 3.5% | ||
| Q1 25 | -3.4% | 3.9% | ||
| Q4 24 | 0.3% | 3.0% | ||
| Q3 24 | -14.1% | 2.8% | ||
| Q2 24 | 11.2% | 3.0% | ||
| Q1 24 | 8.8% | 2.6% |
| Q4 25 | $0.34 | $0.49 | ||
| Q3 25 | $-0.37 | $0.51 | ||
| Q2 25 | $-0.08 | $0.50 | ||
| Q1 25 | $-0.59 | $0.56 | ||
| Q4 24 | $0.05 | $0.43 | ||
| Q3 24 | $-0.31 | $0.38 | ||
| Q2 24 | $1.07 | $0.40 | ||
| Q1 24 | $1.57 | $0.35 |
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 | $23.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-282.1M | $220.0M |
| Total Assets | $1.5B | $668.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $81.3M | $23.2M | ||
| Q3 25 | $48.6M | $17.1M | ||
| Q2 25 | $144.6M | $13.2M | ||
| Q1 25 | $96.5M | $21.2M | ||
| Q4 24 | $107.8M | $6.3M | ||
| Q3 24 | $52.3M | $8.9M | ||
| Q2 24 | $89.1M | $13.9M | ||
| Q1 24 | $40.0M | $11.0M |
| Q4 25 | $-282.1M | $220.0M | ||
| Q3 25 | $-294.2M | $212.4M | ||
| Q2 25 | $-281.4M | $202.5M | ||
| Q1 25 | $-283.4M | $193.0M | ||
| Q4 24 | $-273.1M | $181.9M | ||
| Q3 24 | $-277.5M | $174.3M | ||
| Q2 24 | $-266.3M | $167.8M | ||
| Q1 24 | $-294.0M | $160.0M |
| Q4 25 | $1.5B | $668.6M | ||
| Q3 25 | $1.5B | $670.5M | ||
| Q2 25 | $1.5B | $659.0M | ||
| Q1 25 | $1.5B | $664.6M | ||
| Q4 24 | $1.4B | $648.9M | ||
| Q3 24 | $1.4B | $655.5M | ||
| Q2 24 | $1.3B | $654.4M | ||
| Q1 24 | $1.4B | $656.6M |
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 | $21.1M |
| Free Cash FlowOCF − Capex | $31.6M | $11.6M |
| FCF MarginFCF / Revenue | 7.8% | 3.4% |
| Capex IntensityCapex / Revenue | 0.2% | 2.9% |
| Cash ConversionOCF / Net Profit | 3.94× | 1.86× |
| TTM Free Cash FlowTrailing 4 quarters | $-480.0K | $42.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $32.4M | $21.1M | ||
| Q3 25 | $-85.0M | $15.6M | ||
| Q2 25 | $49.7M | $2.9M | ||
| Q1 25 | $6.3M | $34.1M | ||
| Q4 24 | $61.8M | $2.7M | ||
| Q3 24 | $-26.2M | $24.5M | ||
| Q2 24 | $108.4M | $12.4M | ||
| Q1 24 | $4.0M | $20.2M |
| Q4 25 | $31.6M | $11.6M | ||
| Q3 25 | $-85.3M | $7.5M | ||
| Q2 25 | $49.4M | $-4.2M | ||
| Q1 25 | $3.9M | $27.6M | ||
| Q4 24 | $61.2M | $-6.9M | ||
| Q3 24 | $-26.5M | $18.0M | ||
| Q2 24 | $108.0M | $3.6M | ||
| Q1 24 | $3.9M | $9.8M |
| Q4 25 | 7.8% | 3.4% | ||
| Q3 25 | -216.3% | 2.2% | ||
| Q2 25 | 24.2% | -1.3% | ||
| Q1 25 | 0.9% | 8.2% | ||
| Q4 24 | 17.1% | -2.1% | ||
| Q3 24 | -49.7% | 5.6% | ||
| Q2 24 | 47.5% | 1.2% | ||
| Q1 24 | 0.9% | 3.2% |
| Q4 25 | 0.2% | 2.9% | ||
| Q3 25 | 0.9% | 2.4% | ||
| Q2 25 | 0.2% | 2.2% | ||
| Q1 25 | 0.6% | 1.9% | ||
| Q4 24 | 0.1% | 2.9% | ||
| Q3 24 | 0.7% | 2.0% | ||
| Q2 24 | 0.2% | 2.9% | ||
| Q1 24 | 0.0% | 3.4% |
| Q4 25 | 3.94× | 1.86× | ||
| Q3 25 | — | 1.32× | ||
| Q2 25 | — | 0.25× | ||
| Q1 25 | — | 2.60× | ||
| Q4 24 | 55.61× | 0.27× | ||
| Q3 24 | — | 2.72× | ||
| Q2 24 | 4.25× | 1.35× | ||
| Q1 24 | 0.11× | 2.54× |
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% |
NGVC
| Grocery | $243.8M | 73% |
| Dietary Supplements | $60.7M | 18% |
| Manufactured Product Other | $31.0M | 9% |
