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Side-by-side financial comparison of Madison Square Garden Sports Corp. (MSGS) and Principal Financial Group (PFG). Click either name above to swap in a different company.
Principal Financial Group is the larger business by last-quarter revenue ($750.8M vs $403.4M, roughly 1.9× Madison Square Garden Sports Corp.). Madison Square Garden Sports Corp. runs the higher net margin — 2.0% vs 0.3%, a 1.8% gap on every dollar of revenue. On growth, Madison Square Garden Sports Corp. posted the faster year-over-year revenue change (12.8% vs 4.0%). Over the past eight quarters, Madison Square Garden Sports Corp.'s revenue compounded faster (-3.1% CAGR vs -58.3%).
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
Principal Financial GroupPFGEarnings & Financial Report
Principal Financial Group, Inc. (PFG) is an American global financial investment management and insurance company headquartered in Des Moines, Iowa, United States.
MSGS vs PFG — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $403.4M | $750.8M |
| Net Profit | $8.2M | $1.9M |
| Gross Margin | — | — |
| Operating Margin | 5.5% | — |
| Net Margin | 2.0% | 0.3% |
| Revenue YoY | 12.8% | 4.0% |
| Net Profit YoY | 641.9% | 783.0% |
| EPS (diluted) | $0.34 | — |
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.
| Q1 26 | — | $750.8M | ||
| Q4 25 | $403.4M | $4.6B | ||
| Q3 25 | $39.5M | $3.7B | ||
| Q2 25 | $204.0M | $3.7B | ||
| Q1 25 | $424.2M | $3.7B | ||
| Q4 24 | $357.8M | $4.8B | ||
| Q3 24 | $53.3M | $3.0B | ||
| Q2 24 | $227.3M | $4.3B |
| Q1 26 | — | $1.9M | ||
| Q4 25 | $8.2M | $517.0M | ||
| Q3 25 | $-8.8M | $213.8M | ||
| Q2 25 | $-1.8M | $406.2M | ||
| Q1 25 | $-14.2M | $48.1M | ||
| Q4 24 | $1.1M | $905.4M | ||
| Q3 24 | $-7.5M | $-220.0M | ||
| Q2 24 | $25.5M | $353.1M |
| Q1 26 | — | — | ||
| Q4 25 | 5.5% | — | ||
| Q3 25 | -69.5% | — | ||
| Q2 25 | -11.1% | — | ||
| Q1 25 | 7.6% | — | ||
| Q4 24 | 3.7% | — | ||
| Q3 24 | -15.5% | — | ||
| Q2 24 | 23.0% | — |
| Q1 26 | — | 0.3% | ||
| Q4 25 | 2.0% | 11.3% | ||
| Q3 25 | -22.3% | 5.8% | ||
| Q2 25 | -0.9% | 11.1% | ||
| Q1 25 | -3.4% | 1.3% | ||
| Q4 24 | 0.3% | 19.1% | ||
| Q3 24 | -14.1% | -7.3% | ||
| Q2 24 | 11.2% | 8.2% |
| Q1 26 | — | — | ||
| Q4 25 | $0.34 | $2.30 | ||
| Q3 25 | $-0.37 | $0.95 | ||
| Q2 25 | $-0.08 | $1.79 | ||
| Q1 25 | $-0.59 | $0.21 | ||
| Q4 24 | $0.05 | $3.92 | ||
| Q3 24 | $-0.31 | $-0.95 | ||
| Q2 24 | $1.07 | $1.49 |
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 | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-282.1M | — |
| Total Assets | $1.5B | — |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $81.3M | $4.4B | ||
| Q3 25 | $48.6M | $5.1B | ||
| Q2 25 | $144.6M | $3.7B | ||
| Q1 25 | $96.5M | $3.9B | ||
| Q4 24 | $107.8M | $4.2B | ||
| Q3 24 | $52.3M | $6.2B | ||
| Q2 24 | $89.1M | $4.8B |
| Q1 26 | — | — | ||
| Q4 25 | — | $3.9B | ||
| Q3 25 | — | $3.9B | ||
| Q2 25 | — | $3.9B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | — | $4.0B | ||
| Q3 24 | — | $3.9B | ||
| Q2 24 | — | $3.9B |
| Q1 26 | — | — | ||
| Q4 25 | $-282.1M | $11.9B | ||
| Q3 25 | $-294.2M | $11.7B | ||
| Q2 25 | $-281.4M | $11.4B | ||
| Q1 25 | $-283.4M | $11.2B | ||
| Q4 24 | $-273.1M | $11.1B | ||
| Q3 24 | $-277.5M | $11.2B | ||
| Q2 24 | $-266.3M | $11.0B |
| Q1 26 | — | — | ||
| Q4 25 | $1.5B | $341.4B | ||
| Q3 25 | $1.5B | $334.5B | ||
| Q2 25 | $1.5B | $323.1B | ||
| Q1 25 | $1.5B | $313.0B | ||
| Q4 24 | $1.4B | $313.7B | ||
| Q3 24 | $1.4B | $322.9B | ||
| Q2 24 | $1.3B | $308.8B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.33× | ||
| Q3 25 | — | 0.34× | ||
| Q2 25 | — | 0.34× | ||
| Q1 25 | — | 0.39× | ||
| Q4 24 | — | 0.36× | ||
| Q3 24 | — | 0.35× | ||
| Q2 24 | — | 0.36× |
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 | — |
| Free Cash FlowOCF − Capex | $31.6M | — |
| FCF MarginFCF / Revenue | 7.8% | — |
| Capex IntensityCapex / Revenue | 0.2% | — |
| Cash ConversionOCF / Net Profit | 3.94× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-480.0K | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $32.4M | $1.7B | ||
| Q3 25 | $-85.0M | $1.0B | ||
| Q2 25 | $49.7M | $811.9M | ||
| Q1 25 | $6.3M | $977.3M | ||
| Q4 24 | $61.8M | $1.5B | ||
| Q3 24 | $-26.2M | $1.1B | ||
| Q2 24 | $108.4M | $1.4B |
| Q1 26 | — | — | ||
| Q4 25 | $31.6M | — | ||
| Q3 25 | $-85.3M | — | ||
| Q2 25 | $49.4M | — | ||
| Q1 25 | $3.9M | — | ||
| Q4 24 | $61.2M | — | ||
| Q3 24 | $-26.5M | — | ||
| Q2 24 | $108.0M | — |
| Q1 26 | — | — | ||
| Q4 25 | 7.8% | — | ||
| Q3 25 | -216.3% | — | ||
| Q2 25 | 24.2% | — | ||
| Q1 25 | 0.9% | — | ||
| Q4 24 | 17.1% | — | ||
| Q3 24 | -49.7% | — | ||
| Q2 24 | 47.5% | — |
| Q1 26 | — | — | ||
| Q4 25 | 0.2% | — | ||
| Q3 25 | 0.9% | — | ||
| Q2 25 | 0.2% | — | ||
| Q1 25 | 0.6% | — | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | 0.7% | — | ||
| Q2 24 | 0.2% | — |
| Q1 26 | — | — | ||
| Q4 25 | 3.94× | 3.37× | ||
| Q3 25 | — | 4.70× | ||
| Q2 25 | — | 2.00× | ||
| Q1 25 | — | 20.32× | ||
| Q4 24 | 55.61× | 1.61× | ||
| Q3 24 | — | — | ||
| Q2 24 | 4.25× | 4.05× |
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% |
PFG
Segment breakdown not available.
