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Side-by-side financial comparison of Madison Square Garden Sports Corp. (MSGS) and Paymentus Holdings, Inc. (PAY). 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 $330.5M, roughly 1.2× Paymentus Holdings, Inc.). Paymentus Holdings, Inc. runs the higher net margin — 6.3% vs 2.0%, a 4.2% gap on every dollar of revenue. On growth, Paymentus Holdings, Inc. posted the faster year-over-year revenue change (28.1% vs 12.8%). Paymentus Holdings, Inc. produced more free cash flow last quarter ($45.0M vs $31.6M). Over the past eight quarters, Paymentus Holdings, Inc.'s revenue compounded faster (33.7% CAGR vs -3.1%).
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
Paymentus Holdings, Inc. is a leading cloud-based bill payment and customer engagement technology provider. It offers integrated digital payment solutions, billing automation tools, and self-service portals for enterprises across utilities, financial services, government, healthcare, and telecommunications segments, primarily operating in the North American market.
MSGS vs PAY — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $403.4M | $330.5M |
| Net Profit | $8.2M | $20.7M |
| Gross Margin | — | 25.4% |
| Operating Margin | 5.5% | 7.3% |
| Net Margin | 2.0% | 6.3% |
| Revenue YoY | 12.8% | 28.1% |
| Net Profit YoY | 641.9% | 57.2% |
| EPS (diluted) | $0.34 | $0.16 |
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 | $330.5M | ||
| Q3 25 | $39.5M | $310.7M | ||
| Q2 25 | $204.0M | $280.1M | ||
| Q1 25 | $424.2M | $275.2M | ||
| Q4 24 | $357.8M | $257.9M | ||
| Q3 24 | $53.3M | $231.6M | ||
| Q2 24 | $227.3M | $197.4M | ||
| Q1 24 | $430.0M | $184.9M |
| Q4 25 | $8.2M | $20.7M | ||
| Q3 25 | $-8.8M | $17.7M | ||
| Q2 25 | $-1.8M | $14.7M | ||
| Q1 25 | $-14.2M | $13.8M | ||
| Q4 24 | $1.1M | $13.1M | ||
| Q3 24 | $-7.5M | $14.4M | ||
| Q2 24 | $25.5M | $9.4M | ||
| Q1 24 | $37.9M | $7.2M |
| Q4 25 | — | 25.4% | ||
| Q3 25 | — | 24.1% | ||
| Q2 25 | — | 25.5% | ||
| Q1 25 | — | 24.0% | ||
| Q4 24 | — | 25.6% | ||
| Q3 24 | — | 26.2% | ||
| Q2 24 | — | 29.8% | ||
| Q1 24 | — | 28.5% |
| Q4 25 | 5.5% | 7.3% | ||
| Q3 25 | -69.5% | 6.4% | ||
| Q2 25 | -11.1% | 5.7% | ||
| Q1 25 | 7.6% | 5.7% | ||
| Q4 24 | 3.7% | 5.5% | ||
| Q3 24 | -15.5% | 5.2% | ||
| Q2 24 | 23.0% | 5.2% | ||
| Q1 24 | 18.5% | 4.5% |
| Q4 25 | 2.0% | 6.3% | ||
| Q3 25 | -22.3% | 5.7% | ||
| Q2 25 | -0.9% | 5.3% | ||
| Q1 25 | -3.4% | 5.0% | ||
| Q4 24 | 0.3% | 5.1% | ||
| Q3 24 | -14.1% | 6.2% | ||
| Q2 24 | 11.2% | 4.7% | ||
| Q1 24 | 8.8% | 3.9% |
| Q4 25 | $0.34 | $0.16 | ||
| Q3 25 | $-0.37 | $0.14 | ||
| Q2 25 | $-0.08 | $0.11 | ||
| Q1 25 | $-0.59 | $0.11 | ||
| Q4 24 | $0.05 | $0.11 | ||
| Q3 24 | $-0.31 | $0.11 | ||
| Q2 24 | $1.07 | $0.07 | ||
| Q1 24 | $1.57 | $0.06 |
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 | $320.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-282.1M | $560.4M |
| Total Assets | $1.5B | $667.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $81.3M | $320.9M | ||
| Q3 25 | $48.6M | $287.9M | ||
| Q2 25 | $144.6M | $266.4M | ||
| Q1 25 | $96.5M | $245.8M | ||
| Q4 24 | $107.8M | $205.9M | ||
| Q3 24 | $52.3M | $187.5M | ||
| Q2 24 | $89.1M | $188.8M | ||
| Q1 24 | $40.0M | $180.1M |
| Q4 25 | $-282.1M | $560.4M | ||
| Q3 25 | $-294.2M | $537.4M | ||
| Q2 25 | $-281.4M | $516.7M | ||
| Q1 25 | $-283.4M | $500.4M | ||
| Q4 24 | $-273.1M | $485.6M | ||
| Q3 24 | $-277.5M | $468.8M | ||
| Q2 24 | $-266.3M | $451.6M | ||
| Q1 24 | $-294.0M | $439.4M |
| Q4 25 | $1.5B | $667.9M | ||
| Q3 25 | $1.5B | $644.4M | ||
| Q2 25 | $1.5B | $609.5M | ||
| Q1 25 | $1.5B | $590.9M | ||
| Q4 24 | $1.4B | $576.2M | ||
| Q3 24 | $1.4B | $552.9M | ||
| Q2 24 | $1.3B | $527.7M | ||
| Q1 24 | $1.4B | $514.0M |
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 | $45.1M |
| Free Cash FlowOCF − Capex | $31.6M | $45.0M |
| FCF MarginFCF / Revenue | 7.8% | 13.6% |
| Capex IntensityCapex / Revenue | 0.2% | 0.0% |
| Cash ConversionOCF / Net Profit | 3.94× | 2.18× |
| TTM Free Cash FlowTrailing 4 quarters | $-480.0K | $161.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $32.4M | $45.1M | ||
| Q3 25 | $-85.0M | $35.1M | ||
| Q2 25 | $49.7M | $31.5M | ||
| Q1 25 | $6.3M | $50.4M | ||
| Q4 24 | $61.8M | $27.9M | ||
| Q3 24 | $-26.2M | $6.7M | ||
| Q2 24 | $108.4M | $18.0M | ||
| Q1 24 | $4.0M | $11.0M |
| Q4 25 | $31.6M | $45.0M | ||
| Q3 25 | $-85.3M | $35.0M | ||
| Q2 25 | $49.4M | $31.4M | ||
| Q1 25 | $3.9M | $50.4M | ||
| Q4 24 | $61.2M | $27.8M | ||
| Q3 24 | $-26.5M | $6.7M | ||
| Q2 24 | $108.0M | $17.8M | ||
| Q1 24 | $3.9M | $10.8M |
| Q4 25 | 7.8% | 13.6% | ||
| Q3 25 | -216.3% | 11.3% | ||
| Q2 25 | 24.2% | 11.2% | ||
| Q1 25 | 0.9% | 18.3% | ||
| Q4 24 | 17.1% | 10.8% | ||
| Q3 24 | -49.7% | 2.9% | ||
| Q2 24 | 47.5% | 9.0% | ||
| Q1 24 | 0.9% | 5.9% |
| Q4 25 | 0.2% | 0.0% | ||
| Q3 25 | 0.9% | 0.0% | ||
| Q2 25 | 0.2% | 0.0% | ||
| Q1 25 | 0.6% | 0.0% | ||
| Q4 24 | 0.1% | 0.0% | ||
| Q3 24 | 0.7% | 0.0% | ||
| Q2 24 | 0.2% | 0.1% | ||
| Q1 24 | 0.0% | 0.1% |
| Q4 25 | 3.94× | 2.18× | ||
| Q3 25 | — | 1.98× | ||
| Q2 25 | — | 2.14× | ||
| Q1 25 | — | 3.65× | ||
| Q4 24 | 55.61× | 2.12× | ||
| Q3 24 | — | 0.47× | ||
| Q2 24 | 4.25× | 1.93× | ||
| Q1 24 | 0.11× | 1.52× |
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% |
PAY
| Payment Transaction Processing Revenue | $326.9M | 99% |
| Other | $3.5M | 1% |
