vs
Side-by-side financial comparison of Madison Square Garden Sports Corp. (MSGS) and Palomar Holdings, Inc. (PLMR). 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 $253.4M, roughly 1.6× Palomar Holdings, Inc.). On growth, Palomar Holdings, Inc. posted the faster year-over-year revenue change (62.7% vs 12.8%). Palomar Holdings, Inc. produced more free cash flow last quarter ($409.0M vs $31.6M). Over the past eight quarters, Palomar Holdings, Inc.'s revenue compounded faster (46.2% CAGR vs -3.1%).
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
Palomar Holdings, Inc. is a specialty insurance holding company that primarily provides property insurance products for catastrophe-exposed residential and commercial assets. It mainly operates across the United States, focusing on core segments including earthquake, flood, and windstorm coverage to meet high-risk property protection demands of customers.
MSGS vs PLMR — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $403.4M | $253.4M |
| Net Profit | $8.2M | — |
| Gross Margin | — | — |
| Operating Margin | 5.5% | 28.7% |
| Net Margin | 2.0% | — |
| Revenue YoY | 12.8% | 62.7% |
| Net Profit YoY | 641.9% | — |
| EPS (diluted) | $0.34 | $2.05 |
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 | $253.4M | ||
| Q3 25 | $39.5M | $244.7M | ||
| Q2 25 | $204.0M | $203.3M | ||
| Q1 25 | $424.2M | $174.6M | ||
| Q4 24 | $357.8M | $155.8M | ||
| Q3 24 | $53.3M | $148.5M | ||
| Q2 24 | $227.3M | $131.1M | ||
| Q1 24 | $430.0M | $118.5M |
| Q4 25 | $8.2M | — | ||
| Q3 25 | $-8.8M | $51.5M | ||
| Q2 25 | $-1.8M | $46.5M | ||
| Q1 25 | $-14.2M | $42.9M | ||
| Q4 24 | $1.1M | — | ||
| Q3 24 | $-7.5M | $30.5M | ||
| Q2 24 | $25.5M | $25.7M | ||
| Q1 24 | $37.9M | $26.4M |
| Q4 25 | 5.5% | 28.7% | ||
| Q3 25 | -69.5% | 27.4% | ||
| Q2 25 | -11.1% | 29.5% | ||
| Q1 25 | 7.6% | 30.8% | ||
| Q4 24 | 3.7% | 28.9% | ||
| Q3 24 | -15.5% | 25.9% | ||
| Q2 24 | 23.0% | 25.5% | ||
| Q1 24 | 18.5% | 29.0% |
| Q4 25 | 2.0% | — | ||
| Q3 25 | -22.3% | 21.0% | ||
| Q2 25 | -0.9% | 22.9% | ||
| Q1 25 | -3.4% | 24.6% | ||
| Q4 24 | 0.3% | — | ||
| Q3 24 | -14.1% | 20.5% | ||
| Q2 24 | 11.2% | 19.6% | ||
| Q1 24 | 8.8% | 22.3% |
| Q4 25 | $0.34 | $2.05 | ||
| Q3 25 | $-0.37 | $1.87 | ||
| Q2 25 | $-0.08 | $1.68 | ||
| Q1 25 | $-0.59 | $1.57 | ||
| Q4 24 | $0.05 | $1.29 | ||
| Q3 24 | $-0.31 | $1.15 | ||
| Q2 24 | $1.07 | $1.00 | ||
| Q1 24 | $1.57 | $1.04 |
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 | $106.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-282.1M | $942.7M |
| Total Assets | $1.5B | $3.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $81.3M | $106.9M | ||
| Q3 25 | $48.6M | $111.7M | ||
| Q2 25 | $144.6M | $81.3M | ||
| Q1 25 | $96.5M | $119.3M | ||
| Q4 24 | $107.8M | $80.4M | ||
| Q3 24 | $52.3M | $86.5M | ||
| Q2 24 | $89.1M | $47.8M | ||
| Q1 24 | $40.0M | $61.4M |
| Q4 25 | $-282.1M | $942.7M | ||
| Q3 25 | $-294.2M | $878.1M | ||
| Q2 25 | $-281.4M | $847.2M | ||
| Q1 25 | $-283.4M | $790.4M | ||
| Q4 24 | $-273.1M | $729.0M | ||
| Q3 24 | $-277.5M | $703.3M | ||
| Q2 24 | $-266.3M | $532.6M | ||
| Q1 24 | $-294.0M | $501.7M |
| Q4 25 | $1.5B | $3.1B | ||
| Q3 25 | $1.5B | $2.9B | ||
| Q2 25 | $1.5B | $2.8B | ||
| Q1 25 | $1.5B | $2.4B | ||
| Q4 24 | $1.4B | $2.3B | ||
| Q3 24 | $1.4B | $2.3B | ||
| Q2 24 | $1.3B | $2.0B | ||
| Q1 24 | $1.4B | $1.9B |
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 | $409.1M |
| Free Cash FlowOCF − Capex | $31.6M | $409.0M |
| FCF MarginFCF / Revenue | 7.8% | 161.4% |
| Capex IntensityCapex / Revenue | 0.2% | 0.1% |
| Cash ConversionOCF / Net Profit | 3.94× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-480.0K | $700.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $32.4M | $409.1M | ||
| Q3 25 | $-85.0M | $83.6M | ||
| Q2 25 | $49.7M | $120.9M | ||
| Q1 25 | $6.3M | $87.2M | ||
| Q4 24 | $61.8M | $261.2M | ||
| Q3 24 | $-26.2M | $100.3M | ||
| Q2 24 | $108.4M | $55.1M | ||
| Q1 24 | $4.0M | $33.1M |
| Q4 25 | $31.6M | $409.0M | ||
| Q3 25 | $-85.3M | $83.6M | ||
| Q2 25 | $49.4M | $120.8M | ||
| Q1 25 | $3.9M | $87.1M | ||
| Q4 24 | $61.2M | $260.9M | ||
| Q3 24 | $-26.5M | $100.1M | ||
| Q2 24 | $108.0M | — | ||
| Q1 24 | $3.9M | — |
| Q4 25 | 7.8% | 161.4% | ||
| Q3 25 | -216.3% | 34.2% | ||
| Q2 25 | 24.2% | 59.4% | ||
| Q1 25 | 0.9% | 49.9% | ||
| Q4 24 | 17.1% | 167.5% | ||
| Q3 24 | -49.7% | 67.4% | ||
| Q2 24 | 47.5% | — | ||
| Q1 24 | 0.9% | — |
| Q4 25 | 0.2% | 0.1% | ||
| Q3 25 | 0.9% | 0.0% | ||
| Q2 25 | 0.2% | 0.0% | ||
| Q1 25 | 0.6% | 0.0% | ||
| Q4 24 | 0.1% | 0.2% | ||
| Q3 24 | 0.7% | 0.1% | ||
| Q2 24 | 0.2% | 0.0% | ||
| Q1 24 | 0.0% | 0.0% |
| Q4 25 | 3.94× | — | ||
| Q3 25 | — | 1.63× | ||
| Q2 25 | — | 2.60× | ||
| Q1 25 | — | 2.03× | ||
| Q4 24 | 55.61× | — | ||
| Q3 24 | — | 3.29× | ||
| Q2 24 | 4.25× | 2.14× | ||
| Q1 24 | 0.11× | 1.26× |
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% |
PLMR
Segment breakdown not available.
