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Side-by-side financial comparison of Madison Square Garden Sports Corp. (MSGS) and Tecnoglass Inc. (TGLS). 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 $245.3M, roughly 1.6× Tecnoglass Inc.). Tecnoglass Inc. runs the higher net margin — 10.6% vs 2.0%, a 8.6% gap on every dollar of revenue. On growth, Madison Square Garden Sports Corp. posted the faster year-over-year revenue change (12.8% vs 2.4%). Madison Square Garden Sports Corp. produced more free cash flow last quarter ($31.6M vs $11.4M). Over the past eight quarters, Tecnoglass Inc.'s revenue compounded faster (12.8% CAGR vs -3.1%).
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
Tecnoglass Inc. is a leading manufacturer of high-performance architectural glass, aluminum windows, doors, and associated building components. It primarily caters to residential and commercial construction sectors across North America and Latin America, offering custom, energy-efficient solutions for new construction and renovation projects.
MSGS vs TGLS — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $403.4M | $245.3M |
| Net Profit | $8.2M | $26.1M |
| Gross Margin | — | 40.0% |
| Operating Margin | 5.5% | 18.3% |
| Net Margin | 2.0% | 10.6% |
| Revenue YoY | 12.8% | 2.4% |
| Net Profit YoY | 641.9% | -44.5% |
| EPS (diluted) | $0.34 | $0.57 |
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 | $245.3M | ||
| Q3 25 | $39.5M | $260.5M | ||
| Q2 25 | $204.0M | $255.5M | ||
| Q1 25 | $424.2M | $222.3M | ||
| Q4 24 | $357.8M | $239.6M | ||
| Q3 24 | $53.3M | $238.3M | ||
| Q2 24 | $227.3M | $219.7M | ||
| Q1 24 | $430.0M | $192.6M |
| Q4 25 | $8.2M | $26.1M | ||
| Q3 25 | $-8.8M | $47.2M | ||
| Q2 25 | $-1.8M | $44.1M | ||
| Q1 25 | $-14.2M | $42.2M | ||
| Q4 24 | $1.1M | $47.0M | ||
| Q3 24 | $-7.5M | $49.5M | ||
| Q2 24 | $25.5M | $35.0M | ||
| Q1 24 | $37.9M | $29.7M |
| Q4 25 | — | 40.0% | ||
| Q3 25 | — | 42.7% | ||
| Q2 25 | — | 44.7% | ||
| Q1 25 | — | 43.9% | ||
| Q4 24 | — | 44.5% | ||
| Q3 24 | — | 45.8% | ||
| Q2 24 | — | 40.8% | ||
| Q1 24 | — | 38.8% |
| Q4 25 | 5.5% | 18.3% | ||
| Q3 25 | -69.5% | 25.1% | ||
| Q2 25 | -11.1% | 24.0% | ||
| Q1 25 | 7.6% | 26.7% | ||
| Q4 24 | 3.7% | 28.0% | ||
| Q3 24 | -15.5% | 28.4% | ||
| Q2 24 | 23.0% | 23.3% | ||
| Q1 24 | 18.5% | 21.3% |
| Q4 25 | 2.0% | 10.6% | ||
| Q3 25 | -22.3% | 18.1% | ||
| Q2 25 | -0.9% | 17.3% | ||
| Q1 25 | -3.4% | 19.0% | ||
| Q4 24 | 0.3% | 19.6% | ||
| Q3 24 | -14.1% | 20.8% | ||
| Q2 24 | 11.2% | 15.9% | ||
| Q1 24 | 8.8% | 15.4% |
| Q4 25 | $0.34 | $0.57 | ||
| Q3 25 | $-0.37 | $1.01 | ||
| Q2 25 | $-0.08 | $0.94 | ||
| Q1 25 | $-0.59 | $0.90 | ||
| Q4 24 | $0.05 | $1.00 | ||
| Q3 24 | $-0.31 | $1.05 | ||
| Q2 24 | $1.07 | $0.75 | ||
| Q1 24 | $1.57 | $0.63 |
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 | $104.1M |
| Total DebtLower is stronger | — | $174.4M |
| Stockholders' EquityBook value | $-282.1M | $713.1M |
| Total Assets | $1.5B | $1.3B |
| Debt / EquityLower = less leverage | — | 0.24× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $81.3M | $104.1M | ||
| Q3 25 | $48.6M | $127.1M | ||
| Q2 25 | $144.6M | $140.9M | ||
| Q1 25 | $96.5M | $160.2M | ||
| Q4 24 | $107.8M | $137.5M | ||
| Q3 24 | $52.3M | $124.8M | ||
| Q2 24 | $89.1M | $129.5M | ||
| Q1 24 | $40.0M | $138.8M |
| Q4 25 | — | $174.4M | ||
| Q3 25 | — | $114.7M | ||
| Q2 25 | — | $110.6M | ||
| Q1 25 | — | $110.6M | ||
| Q4 24 | — | $111.1M | ||
| Q3 24 | — | $126.8M | ||
| Q2 24 | — | $144.7M | ||
| Q1 24 | — | $160.9M |
| Q4 25 | $-282.1M | $713.1M | ||
| Q3 25 | $-294.2M | $764.0M | ||
| Q2 25 | $-281.4M | $736.0M | ||
| Q1 25 | $-283.4M | $685.1M | ||
| Q4 24 | $-273.1M | $631.2M | ||
| Q3 24 | $-277.5M | $613.3M | ||
| Q2 24 | $-266.3M | $574.8M | ||
| Q1 24 | $-294.0M | $573.6M |
| Q4 25 | $1.5B | $1.3B | ||
| Q3 25 | $1.5B | $1.2B | ||
| Q2 25 | $1.5B | $1.2B | ||
| Q1 25 | $1.5B | $1.1B | ||
| Q4 24 | $1.4B | $1.0B | ||
| Q3 24 | $1.4B | $996.3M | ||
| Q2 24 | $1.3B | $942.5M | ||
| Q1 24 | $1.4B | $981.6M |
| Q4 25 | — | 0.24× | ||
| Q3 25 | — | 0.15× | ||
| Q2 25 | — | 0.15× | ||
| Q1 25 | — | 0.16× | ||
| Q4 24 | — | 0.18× | ||
| Q3 24 | — | 0.21× | ||
| Q2 24 | — | 0.25× | ||
| Q1 24 | — | 0.28× |
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 | $31.0M |
| Free Cash FlowOCF − Capex | $31.6M | $11.4M |
| FCF MarginFCF / Revenue | 7.8% | 4.7% |
| Capex IntensityCapex / Revenue | 0.2% | 8.0% |
| Cash ConversionOCF / Net Profit | 3.94× | 1.19× |
| TTM Free Cash FlowTrailing 4 quarters | $-480.0K | $34.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $32.4M | $31.0M | ||
| Q3 25 | $-85.0M | $40.0M | ||
| Q2 25 | $49.7M | $17.9M | ||
| Q1 25 | $6.3M | $46.9M | ||
| Q4 24 | $61.8M | $61.1M | ||
| Q3 24 | $-26.2M | $41.5M | ||
| Q2 24 | $108.4M | $34.5M | ||
| Q1 24 | $4.0M | $33.4M |
| Q4 25 | $31.6M | $11.4M | ||
| Q3 25 | $-85.3M | $21.2M | ||
| Q2 25 | $49.4M | $-14.7M | ||
| Q1 25 | $3.9M | $16.5M | ||
| Q4 24 | $61.2M | $35.4M | ||
| Q3 24 | $-26.5M | $17.8M | ||
| Q2 24 | $108.0M | $14.2M | ||
| Q1 24 | $3.9M | $23.6M |
| Q4 25 | 7.8% | 4.7% | ||
| Q3 25 | -216.3% | 8.2% | ||
| Q2 25 | 24.2% | -5.7% | ||
| Q1 25 | 0.9% | 7.4% | ||
| Q4 24 | 17.1% | 14.8% | ||
| Q3 24 | -49.7% | 7.5% | ||
| Q2 24 | 47.5% | 6.5% | ||
| Q1 24 | 0.9% | 12.2% |
| Q4 25 | 0.2% | 8.0% | ||
| Q3 25 | 0.9% | 7.2% | ||
| Q2 25 | 0.2% | 12.7% | ||
| Q1 25 | 0.6% | 13.7% | ||
| Q4 24 | 0.1% | 10.7% | ||
| Q3 24 | 0.7% | 9.9% | ||
| Q2 24 | 0.2% | 9.2% | ||
| Q1 24 | 0.0% | 5.1% |
| Q4 25 | 3.94× | 1.19× | ||
| Q3 25 | — | 0.85× | ||
| Q2 25 | — | 0.41× | ||
| Q1 25 | — | 1.11× | ||
| Q4 24 | 55.61× | 1.30× | ||
| Q3 24 | — | 0.84× | ||
| Q2 24 | 4.25× | 0.98× | ||
| Q1 24 | 0.11× | 1.13× |
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% |
TGLS
| Product Sales | $164.2M | 67% |
| Fixed Price Contracts | $81.1M | 33% |
| Related Party | $692.0K | 0% |
