vs
Side-by-side financial comparison of Madison Square Garden Sports Corp. (MSGS) and RADIANT LOGISTICS, INC (RLGT). 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 $232.1M, roughly 1.7× RADIANT LOGISTICS, INC). RADIANT LOGISTICS, INC runs the higher net margin — 2.3% vs 2.0%, a 0.2% gap on every dollar of revenue. On growth, Madison Square Garden Sports Corp. posted the faster year-over-year revenue change (12.8% vs -12.3%). Madison Square Garden Sports Corp. produced more free cash flow last quarter ($31.6M vs $11.6M). Over the past eight quarters, RADIANT LOGISTICS, INC's revenue compounded faster (12.1% CAGR vs -3.1%).
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
Radiant Logistics, Inc. is a leading third-party logistics provider offering end-to-end supply chain solutions, domestic and international freight forwarding, warehousing, and last-mile delivery services. It primarily serves North American markets, with key client segments including retail, manufacturing, e-commerce, and industrial sectors, helping businesses optimize logistics workflows and cut operational costs.
MSGS vs RLGT — Head-to-Head
Income Statement — Q2 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $403.4M | $232.1M |
| Net Profit | $8.2M | $5.3M |
| Gross Margin | — | — |
| Operating Margin | 5.5% | 3.2% |
| Net Margin | 2.0% | 2.3% |
| Revenue YoY | 12.8% | -12.3% |
| Net Profit YoY | 641.9% | -18.0% |
| EPS (diluted) | $0.34 | $0.11 |
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 | $232.1M | ||
| Q3 25 | $39.5M | $226.7M | ||
| Q2 25 | $204.0M | $220.6M | ||
| Q1 25 | $424.2M | $214.0M | ||
| Q4 24 | $357.8M | $264.5M | ||
| Q3 24 | $53.3M | $203.6M | ||
| Q2 24 | $227.3M | $206.0M | ||
| Q1 24 | $430.0M | $184.6M |
| Q4 25 | $8.2M | $5.3M | ||
| Q3 25 | $-8.8M | $1.3M | ||
| Q2 25 | $-1.8M | $4.9M | ||
| Q1 25 | $-14.2M | $2.5M | ||
| Q4 24 | $1.1M | $6.5M | ||
| Q3 24 | $-7.5M | $3.4M | ||
| Q2 24 | $25.5M | $4.8M | ||
| Q1 24 | $37.9M | $-703.0K |
| Q4 25 | 5.5% | 3.2% | ||
| Q3 25 | -69.5% | 0.9% | ||
| Q2 25 | -11.1% | 2.4% | ||
| Q1 25 | 7.6% | 1.6% | ||
| Q4 24 | 3.7% | 3.3% | ||
| Q3 24 | -15.5% | 1.9% | ||
| Q2 24 | 23.0% | 2.4% | ||
| Q1 24 | 18.5% | -0.5% |
| Q4 25 | 2.0% | 2.3% | ||
| Q3 25 | -22.3% | 0.6% | ||
| Q2 25 | -0.9% | 2.2% | ||
| Q1 25 | -3.4% | 1.2% | ||
| Q4 24 | 0.3% | 2.4% | ||
| Q3 24 | -14.1% | 1.7% | ||
| Q2 24 | 11.2% | 2.3% | ||
| Q1 24 | 8.8% | -0.4% |
| Q4 25 | $0.34 | $0.11 | ||
| Q3 25 | $-0.37 | $0.03 | ||
| Q2 25 | $-0.08 | $0.10 | ||
| Q1 25 | $-0.59 | $0.05 | ||
| Q4 24 | $0.05 | $0.13 | ||
| Q3 24 | $-0.31 | $0.07 | ||
| Q2 24 | $1.07 | $0.11 | ||
| Q1 24 | $1.57 | $-0.02 |
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 | $31.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-282.1M | $229.8M |
| Total Assets | $1.5B | $439.4M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $81.3M | $31.9M | ||
| Q3 25 | $48.6M | $28.1M | ||
| Q2 25 | $144.6M | $22.9M | ||
| Q1 25 | $96.5M | $19.0M | ||
| Q4 24 | $107.8M | $19.9M | ||
| Q3 24 | $52.3M | $10.4M | ||
| Q2 24 | $89.1M | $24.9M | ||
| Q1 24 | $40.0M | $31.2M |
| Q4 25 | $-282.1M | $229.8M | ||
| Q3 25 | $-294.2M | $225.7M | ||
| Q2 25 | $-281.4M | $226.0M | ||
| Q1 25 | $-283.4M | $218.2M | ||
| Q4 24 | $-273.1M | $214.4M | ||
| Q3 24 | $-277.5M | $212.4M | ||
| Q2 24 | $-266.3M | $209.4M | ||
| Q1 24 | $-294.0M | $206.0M |
| Q4 25 | $1.5B | $439.4M | ||
| Q3 25 | $1.5B | $445.3M | ||
| Q2 25 | $1.5B | $426.8M | ||
| Q1 25 | $1.5B | $414.5M | ||
| Q4 24 | $1.4B | $386.8M | ||
| Q3 24 | $1.4B | $375.3M | ||
| Q2 24 | $1.3B | $371.2M | ||
| Q1 24 | $1.4B | $364.0M |
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 | $12.4M |
| Free Cash FlowOCF − Capex | $31.6M | $11.6M |
| FCF MarginFCF / Revenue | 7.8% | 5.0% |
| Capex IntensityCapex / Revenue | 0.2% | 0.3% |
| Cash ConversionOCF / Net Profit | 3.94× | 2.33× |
| TTM Free Cash FlowTrailing 4 quarters | $-480.0K | $8.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $32.4M | $12.4M | ||
| Q3 25 | $-85.0M | $2.5M | ||
| Q2 25 | $49.7M | $3.1M | ||
| Q1 25 | $6.3M | $-5.7M | ||
| Q4 24 | $61.8M | $15.7M | ||
| Q3 24 | $-26.2M | $205.0K | ||
| Q2 24 | $108.4M | $1.3M | ||
| Q1 24 | $4.0M | $3.9M |
| Q4 25 | $31.6M | $11.6M | ||
| Q3 25 | $-85.3M | $977.0K | ||
| Q2 25 | $49.4M | $2.2M | ||
| Q1 25 | $3.9M | $-6.4M | ||
| Q4 24 | $61.2M | $14.1M | ||
| Q3 24 | $-26.5M | $-1.9M | ||
| Q2 24 | $108.0M | $-185.0K | ||
| Q1 24 | $3.9M | $1.8M |
| Q4 25 | 7.8% | 5.0% | ||
| Q3 25 | -216.3% | 0.4% | ||
| Q2 25 | 24.2% | 1.0% | ||
| Q1 25 | 0.9% | -3.0% | ||
| Q4 24 | 17.1% | 5.3% | ||
| Q3 24 | -49.7% | -0.9% | ||
| Q2 24 | 47.5% | -0.1% | ||
| Q1 24 | 0.9% | 1.0% |
| Q4 25 | 0.2% | 0.3% | ||
| Q3 25 | 0.9% | 0.7% | ||
| Q2 25 | 0.2% | 0.4% | ||
| Q1 25 | 0.6% | 0.3% | ||
| Q4 24 | 0.1% | 0.6% | ||
| Q3 24 | 0.7% | 1.0% | ||
| Q2 24 | 0.2% | 0.7% | ||
| Q1 24 | 0.0% | 1.2% |
| Q4 25 | 3.94× | 2.33× | ||
| Q3 25 | — | 1.90× | ||
| Q2 25 | — | 0.63× | ||
| Q1 25 | — | -2.26× | ||
| Q4 24 | 55.61× | 2.43× | ||
| Q3 24 | — | 0.06× | ||
| Q2 24 | 4.25× | 0.26× | ||
| 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% |
RLGT
| Transferred Over Time | $201.2M | 87% |
| Other | $25.0M | 11% |
| Value Added Services | $4.2M | 2% |
| Transferred At Point In Time | $1.8M | 1% |
