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Side-by-side financial comparison of Madison Square Garden Sports Corp. (MSGS) and LiveRamp Holdings, Inc. (RAMP). 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 $212.2M, roughly 1.9× LiveRamp Holdings, Inc.). LiveRamp Holdings, Inc. runs the higher net margin — 18.8% vs 2.0%, a 16.7% gap on every dollar of revenue. On growth, Madison Square Garden Sports Corp. posted the faster year-over-year revenue change (12.8% vs 8.6%). Over the past eight quarters, LiveRamp Holdings, Inc.'s revenue compounded faster (11.1% CAGR vs -3.1%).
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
LiveRamp Holdings, Inc., is an American SaaS company that offers a data connectivity platform whose services include data onboarding, the transfer of offline data online for marketing purposes.
MSGS vs RAMP — Head-to-Head
Income Statement — Q2 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $403.4M | $212.2M |
| Net Profit | $8.2M | $39.9M |
| Gross Margin | — | 71.9% |
| Operating Margin | 5.5% | 18.6% |
| Net Margin | 2.0% | 18.8% |
| Revenue YoY | 12.8% | 8.6% |
| Net Profit YoY | 641.9% | 255.7% |
| EPS (diluted) | $0.34 | $0.62 |
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 | $212.2M | ||
| Q3 25 | $39.5M | $199.8M | ||
| Q2 25 | $204.0M | $194.8M | ||
| Q1 25 | $424.2M | $188.7M | ||
| Q4 24 | $357.8M | $195.4M | ||
| Q3 24 | $53.3M | $185.5M | ||
| Q2 24 | $227.3M | $176.0M | ||
| Q1 24 | $430.0M | $171.9M |
| Q4 25 | $8.2M | $39.9M | ||
| Q3 25 | $-8.8M | $27.4M | ||
| Q2 25 | $-1.8M | $7.7M | ||
| Q1 25 | $-14.2M | $-6.3M | ||
| Q4 24 | $1.1M | $11.2M | ||
| Q3 24 | $-7.5M | $1.7M | ||
| Q2 24 | $25.5M | $-7.5M | ||
| Q1 24 | $37.9M | $-5.4M |
| Q4 25 | — | 71.9% | ||
| Q3 25 | — | 70.2% | ||
| Q2 25 | — | 70.1% | ||
| Q1 25 | — | 69.3% | ||
| Q4 24 | — | 71.9% | ||
| Q3 24 | — | 72.4% | ||
| Q2 24 | — | 70.6% | ||
| Q1 24 | — | 72.2% |
| Q4 25 | 5.5% | 18.6% | ||
| Q3 25 | -69.5% | 10.7% | ||
| Q2 25 | -11.1% | 3.7% | ||
| Q1 25 | 7.6% | -6.1% | ||
| Q4 24 | 3.7% | 7.5% | ||
| Q3 24 | -15.5% | 4.0% | ||
| Q2 24 | 23.0% | -3.0% | ||
| Q1 24 | 18.5% | -8.3% |
| Q4 25 | 2.0% | 18.8% | ||
| Q3 25 | -22.3% | 13.7% | ||
| Q2 25 | -0.9% | 4.0% | ||
| Q1 25 | -3.4% | -3.3% | ||
| Q4 24 | 0.3% | 5.7% | ||
| Q3 24 | -14.1% | 0.9% | ||
| Q2 24 | 11.2% | -4.3% | ||
| Q1 24 | 8.8% | -3.1% |
| Q4 25 | $0.34 | $0.62 | ||
| Q3 25 | $-0.37 | $0.42 | ||
| Q2 25 | $-0.08 | $0.12 | ||
| Q1 25 | $-0.59 | $-0.10 | ||
| Q4 24 | $0.05 | $0.17 | ||
| Q3 24 | $-0.31 | $0.03 | ||
| Q2 24 | $1.07 | $-0.11 | ||
| Q1 24 | $1.57 | $-0.09 |
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 | $403.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-282.1M | $962.3M |
| Total Assets | $1.5B | $1.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $81.3M | $403.4M | ||
| Q3 25 | $48.6M | $376.9M | ||
| Q2 25 | $144.6M | $371.1M | ||
| Q1 25 | $96.5M | $420.8M | ||
| Q4 24 | $107.8M | $384.3M | ||
| Q3 24 | $52.3M | $348.4M | ||
| Q2 24 | $89.1M | $342.7M | ||
| Q1 24 | $40.0M | $368.9M |
| Q4 25 | $-282.1M | $962.3M | ||
| Q3 25 | $-294.2M | $943.8M | ||
| Q2 25 | $-281.4M | $947.8M | ||
| Q1 25 | $-283.4M | $948.9M | ||
| Q4 24 | $-273.1M | $957.7M | ||
| Q3 24 | $-277.5M | $932.1M | ||
| Q2 24 | $-266.3M | $951.9M | ||
| Q1 24 | $-294.0M | $949.1M |
| Q4 25 | $1.5B | $1.3B | ||
| Q3 25 | $1.5B | $1.2B | ||
| Q2 25 | $1.5B | $1.2B | ||
| Q1 25 | $1.5B | $1.3B | ||
| Q4 24 | $1.4B | $1.3B | ||
| Q3 24 | $1.4B | $1.2B | ||
| Q2 24 | $1.3B | $1.2B | ||
| Q1 24 | $1.4B | $1.2B |
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% | 0.1% |
| Cash ConversionOCF / Net Profit | 3.94× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-480.0K | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $32.4M | — | ||
| Q3 25 | $-85.0M | $57.4M | ||
| Q2 25 | $49.7M | $-15.8M | ||
| Q1 25 | $6.3M | — | ||
| Q4 24 | $61.8M | $45.1M | ||
| Q3 24 | $-26.2M | $55.6M | ||
| Q2 24 | $108.4M | $-9.3M | ||
| Q1 24 | $4.0M | — |
| Q4 25 | $31.6M | — | ||
| Q3 25 | $-85.3M | $56.8M | ||
| Q2 25 | $49.4M | $-16.2M | ||
| Q1 25 | $3.9M | — | ||
| Q4 24 | $61.2M | $44.8M | ||
| Q3 24 | $-26.5M | $55.4M | ||
| Q2 24 | $108.0M | $-9.6M | ||
| Q1 24 | $3.9M | — |
| Q4 25 | 7.8% | — | ||
| Q3 25 | -216.3% | 28.4% | ||
| Q2 25 | 24.2% | -8.3% | ||
| Q1 25 | 0.9% | — | ||
| Q4 24 | 17.1% | 22.9% | ||
| Q3 24 | -49.7% | 29.8% | ||
| Q2 24 | 47.5% | -5.4% | ||
| Q1 24 | 0.9% | — |
| Q4 25 | 0.2% | 0.1% | ||
| Q3 25 | 0.9% | 0.3% | ||
| Q2 25 | 0.2% | 0.2% | ||
| Q1 25 | 0.6% | 0.2% | ||
| Q4 24 | 0.1% | 0.1% | ||
| Q3 24 | 0.7% | 0.1% | ||
| Q2 24 | 0.2% | 0.1% | ||
| Q1 24 | 0.0% | 1.0% |
| Q4 25 | 3.94× | — | ||
| Q3 25 | — | 2.09× | ||
| Q2 25 | — | -2.04× | ||
| Q1 25 | — | — | ||
| Q4 24 | 55.61× | 4.02× | ||
| Q3 24 | — | 32.10× | ||
| Q2 24 | 4.25× | — | ||
| Q1 24 | 0.11× | — |
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% |
RAMP
Segment breakdown not available.
