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Side-by-side financial comparison of Madison Square Garden Sports Corp. (MSGS) and TENNANT CO (TNC). 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 $291.6M, roughly 1.4× TENNANT CO). Madison Square Garden Sports Corp. runs the higher net margin — 2.0% vs -1.5%, a 3.6% gap on every dollar of revenue. On growth, Madison Square Garden Sports Corp. posted the faster year-over-year revenue change (12.8% vs -11.3%). Madison Square Garden Sports Corp. produced more free cash flow last quarter ($31.6M vs $9.7M). Over the past eight quarters, Madison Square Garden Sports Corp.'s revenue compounded faster (-3.1% CAGR vs -3.2%).
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
The Tennant Company (TNC:NYQ) is a company with about 4000 employees that provides cleaning products. It is a company that is listed in the New York Stock Exchange.
MSGS vs TNC — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $403.4M | $291.6M |
| Net Profit | $8.2M | $-4.4M |
| Gross Margin | — | 34.6% |
| Operating Margin | 5.5% | -1.4% |
| Net Margin | 2.0% | -1.5% |
| Revenue YoY | 12.8% | -11.3% |
| Net Profit YoY | 641.9% | -166.7% |
| EPS (diluted) | $0.34 | $-0.21 |
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 | $291.6M | ||
| Q3 25 | $39.5M | $303.3M | ||
| Q2 25 | $204.0M | $318.6M | ||
| Q1 25 | $424.2M | $290.0M | ||
| Q4 24 | $357.8M | $328.9M | ||
| Q3 24 | $53.3M | $315.8M | ||
| Q2 24 | $227.3M | $331.0M | ||
| Q1 24 | $430.0M | $311.0M |
| Q4 25 | $8.2M | $-4.4M | ||
| Q3 25 | $-8.8M | $14.9M | ||
| Q2 25 | $-1.8M | $20.2M | ||
| Q1 25 | $-14.2M | $13.1M | ||
| Q4 24 | $1.1M | $6.6M | ||
| Q3 24 | $-7.5M | $20.8M | ||
| Q2 24 | $25.5M | $27.9M | ||
| Q1 24 | $37.9M | $28.4M |
| Q4 25 | — | 34.6% | ||
| Q3 25 | — | 42.7% | ||
| Q2 25 | — | 42.1% | ||
| Q1 25 | — | 41.4% | ||
| Q4 24 | — | 41.3% | ||
| Q3 24 | — | 42.4% | ||
| Q2 24 | — | 43.1% | ||
| Q1 24 | — | 44.2% |
| Q4 25 | 5.5% | -1.4% | ||
| Q3 25 | -69.5% | 7.4% | ||
| Q2 25 | -11.1% | 9.6% | ||
| Q1 25 | 7.6% | 6.8% | ||
| Q4 24 | 3.7% | 2.3% | ||
| Q3 24 | -15.5% | 9.7% | ||
| Q2 24 | 23.0% | 11.7% | ||
| Q1 24 | 18.5% | 12.1% |
| Q4 25 | 2.0% | -1.5% | ||
| Q3 25 | -22.3% | 4.9% | ||
| Q2 25 | -0.9% | 6.3% | ||
| Q1 25 | -3.4% | 4.5% | ||
| Q4 24 | 0.3% | 2.0% | ||
| Q3 24 | -14.1% | 6.6% | ||
| Q2 24 | 11.2% | 8.4% | ||
| Q1 24 | 8.8% | 9.1% |
| Q4 25 | $0.34 | $-0.21 | ||
| Q3 25 | $-0.37 | $0.80 | ||
| Q2 25 | $-0.08 | $1.08 | ||
| Q1 25 | $-0.59 | $0.69 | ||
| Q4 24 | $0.05 | $0.35 | ||
| Q3 24 | $-0.31 | $1.09 | ||
| Q2 24 | $1.07 | $1.45 | ||
| Q1 24 | $1.57 | $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 | — | $273.2M |
| Stockholders' EquityBook value | $-282.1M | $601.6M |
| Total Assets | $1.5B | $1.3B |
| Debt / EquityLower = less leverage | — | 0.45× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $81.3M | — | ||
| Q3 25 | $48.6M | — | ||
| Q2 25 | $144.6M | — | ||
| Q1 25 | $96.5M | — | ||
| Q4 24 | $107.8M | — | ||
| Q3 24 | $52.3M | — | ||
| Q2 24 | $89.1M | — | ||
| Q1 24 | $40.0M | — |
| Q4 25 | — | $273.2M | ||
| Q3 25 | — | $238.3M | ||
| Q2 25 | — | $213.4M | ||
| Q1 25 | — | $213.3M | ||
| Q4 24 | — | $198.2M | ||
| Q3 24 | — | $208.6M | ||
| Q2 24 | — | $205.6M | ||
| Q1 24 | — | $207.4M |
| Q4 25 | $-282.1M | $601.6M | ||
| Q3 25 | $-294.2M | $640.9M | ||
| Q2 25 | $-281.4M | $651.9M | ||
| Q1 25 | $-283.4M | $624.4M | ||
| Q4 24 | $-273.1M | $620.8M | ||
| Q3 24 | $-277.5M | $647.2M | ||
| Q2 24 | $-266.3M | $624.6M | ||
| Q1 24 | $-294.0M | $614.6M |
| Q4 25 | $1.5B | $1.3B | ||
| Q3 25 | $1.5B | $1.3B | ||
| Q2 25 | $1.5B | $1.2B | ||
| Q1 25 | $1.5B | $1.2B | ||
| Q4 24 | $1.4B | $1.2B | ||
| Q3 24 | $1.4B | $1.2B | ||
| Q2 24 | $1.3B | $1.2B | ||
| Q1 24 | $1.4B | $1.2B |
| Q4 25 | — | 0.45× | ||
| Q3 25 | — | 0.37× | ||
| Q2 25 | — | 0.33× | ||
| Q1 25 | — | 0.34× | ||
| Q4 24 | — | 0.32× | ||
| Q3 24 | — | 0.32× | ||
| Q2 24 | — | 0.33× | ||
| Q1 24 | — | 0.34× |
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 | $14.2M |
| Free Cash FlowOCF − Capex | $31.6M | $9.7M |
| FCF MarginFCF / Revenue | 7.8% | 3.3% |
| Capex IntensityCapex / Revenue | 0.2% | 1.5% |
| Cash ConversionOCF / Net Profit | 3.94× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-480.0K | $43.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $32.4M | $14.2M | ||
| Q3 25 | $-85.0M | $28.7M | ||
| Q2 25 | $49.7M | $22.5M | ||
| Q1 25 | $6.3M | $-400.0K | ||
| Q4 24 | $61.8M | $37.5M | ||
| Q3 24 | $-26.2M | $30.7M | ||
| Q2 24 | $108.4M | $18.6M | ||
| Q1 24 | $4.0M | $2.9M |
| Q4 25 | $31.6M | $9.7M | ||
| Q3 25 | $-85.3M | $22.3M | ||
| Q2 25 | $49.4M | $18.7M | ||
| Q1 25 | $3.9M | $-7.4M | ||
| Q4 24 | $61.2M | $28.1M | ||
| Q3 24 | $-26.5M | $26.4M | ||
| Q2 24 | $108.0M | $14.4M | ||
| Q1 24 | $3.9M | $-100.0K |
| Q4 25 | 7.8% | 3.3% | ||
| Q3 25 | -216.3% | 7.4% | ||
| Q2 25 | 24.2% | 5.9% | ||
| Q1 25 | 0.9% | -2.6% | ||
| Q4 24 | 17.1% | 8.5% | ||
| Q3 24 | -49.7% | 8.4% | ||
| Q2 24 | 47.5% | 4.4% | ||
| Q1 24 | 0.9% | -0.0% |
| Q4 25 | 0.2% | 1.5% | ||
| Q3 25 | 0.9% | 2.1% | ||
| Q2 25 | 0.2% | 1.2% | ||
| Q1 25 | 0.6% | 2.4% | ||
| Q4 24 | 0.1% | 2.9% | ||
| Q3 24 | 0.7% | 1.4% | ||
| Q2 24 | 0.2% | 1.3% | ||
| Q1 24 | 0.0% | 1.0% |
| Q4 25 | 3.94× | — | ||
| Q3 25 | — | 1.93× | ||
| Q2 25 | — | 1.11× | ||
| Q1 25 | — | -0.03× | ||
| Q4 24 | 55.61× | 5.68× | ||
| Q3 24 | — | 1.48× | ||
| Q2 24 | 4.25× | 0.67× | ||
| Q1 24 | 0.11× | 0.10× |
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% |
TNC
| Equipment Sales | $165.5M | 57% |
| Parts And Consumables | $69.1M | 24% |
| Service And Other | $57.0M | 20% |
