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Side-by-side financial comparison of Madison Square Garden Sports Corp. (MSGS) and USANA HEALTH SCIENCES INC (USNA). 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 $226.2M, roughly 1.8× USANA HEALTH SCIENCES INC). Madison Square Garden Sports Corp. runs the higher net margin — 2.0% vs 0.1%, a 2.0% gap on every dollar of revenue. On growth, Madison Square Garden Sports Corp. posted the faster year-over-year revenue change (12.8% vs -10.0%). Over the past eight quarters, USANA HEALTH SCIENCES INC's revenue compounded faster (3.1% CAGR vs -3.1%).
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
Usana Health Sciences, Inc., or USANA, is an American multi-level marketing company based in Salt Lake City, Utah. As of 2021, Usana was the 14th largest direct-selling company in the world by revenue. The company manufactures most of its nutritional products, dietary supplements, and skincare products at a Salt Lake City facility. Its products are sold in 24 countries via a network of independent distributors.
MSGS vs USNA — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $403.4M | $226.2M |
| Net Profit | $8.2M | $180.0K |
| Gross Margin | — | 78.2% |
| Operating Margin | 5.5% | 1.7% |
| Net Margin | 2.0% | 0.1% |
| Revenue YoY | 12.8% | -10.0% |
| Net Profit YoY | 641.9% | -74.0% |
| EPS (diluted) | $0.34 | $-0.10 |
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 | $226.2M | ||
| Q3 25 | $39.5M | $213.7M | ||
| Q2 25 | $204.0M | $235.8M | ||
| Q1 25 | $424.2M | $249.5M | ||
| Q4 24 | $357.8M | $213.6M | ||
| Q3 24 | $53.3M | $200.2M | ||
| Q2 24 | $227.3M | $212.9M | ||
| Q1 24 | $430.0M | — |
| Q4 25 | $8.2M | $180.0K | ||
| Q3 25 | $-8.8M | $-6.5M | ||
| Q2 25 | $-1.8M | $9.7M | ||
| Q1 25 | $-14.2M | $9.4M | ||
| Q4 24 | $1.1M | $4.5M | ||
| Q3 24 | $-7.5M | $10.6M | ||
| Q2 24 | $25.5M | $10.4M | ||
| Q1 24 | $37.9M | — |
| Q4 25 | — | 78.2% | ||
| Q3 25 | — | 77.2% | ||
| Q2 25 | — | 78.7% | ||
| Q1 25 | — | 79.0% | ||
| Q4 24 | — | 82.0% | ||
| Q3 24 | — | 80.4% | ||
| Q2 24 | — | 81.1% | ||
| Q1 24 | — | — |
| Q4 25 | 5.5% | 1.7% | ||
| Q3 25 | -69.5% | 0.6% | ||
| Q2 25 | -11.1% | 7.1% | ||
| Q1 25 | 7.6% | 6.3% | ||
| Q4 24 | 3.7% | 3.8% | ||
| Q3 24 | -15.5% | 7.8% | ||
| Q2 24 | 23.0% | 8.4% | ||
| Q1 24 | 18.5% | — |
| Q4 25 | 2.0% | 0.1% | ||
| Q3 25 | -22.3% | -3.1% | ||
| Q2 25 | -0.9% | 4.1% | ||
| Q1 25 | -3.4% | 3.8% | ||
| Q4 24 | 0.3% | 2.1% | ||
| Q3 24 | -14.1% | 5.3% | ||
| Q2 24 | 11.2% | 4.9% | ||
| Q1 24 | 8.8% | — |
| Q4 25 | $0.34 | $-0.10 | ||
| Q3 25 | $-0.37 | $-0.36 | ||
| Q2 25 | $-0.08 | $0.52 | ||
| Q1 25 | $-0.59 | $0.49 | ||
| Q4 24 | $0.05 | $0.23 | ||
| Q3 24 | $-0.31 | $0.56 | ||
| Q2 24 | $1.07 | $0.54 | ||
| Q1 24 | $1.57 | — |
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 | $158.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-282.1M | — |
| Total Assets | $1.5B | $742.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $81.3M | $158.4M | ||
| Q3 25 | $48.6M | $145.3M | ||
| Q2 25 | $144.6M | $151.3M | ||
| Q1 25 | $96.5M | $179.6M | ||
| Q4 24 | $107.8M | $181.8M | ||
| Q3 24 | $52.3M | $364.9M | ||
| Q2 24 | $89.1M | $332.4M | ||
| Q1 24 | $40.0M | — |
| Q4 25 | $-282.1M | — | ||
| Q3 25 | $-294.2M | $528.1M | ||
| Q2 25 | $-281.4M | $531.1M | ||
| Q1 25 | $-283.4M | $529.8M | ||
| Q4 24 | $-273.1M | $532.1M | ||
| Q3 24 | $-277.5M | $533.1M | ||
| Q2 24 | $-266.3M | $512.2M | ||
| Q1 24 | $-294.0M | — |
| Q4 25 | $1.5B | $742.9M | ||
| Q3 25 | $1.5B | $726.6M | ||
| Q2 25 | $1.5B | $734.5M | ||
| Q1 25 | $1.5B | $746.6M | ||
| Q4 24 | $1.4B | $748.2M | ||
| Q3 24 | $1.4B | $671.3M | ||
| Q2 24 | $1.3B | $631.4M | ||
| Q1 24 | $1.4B | — |
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% | — |
| 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 | $-2.0M | ||
| Q2 25 | $49.7M | $12.2M | ||
| Q1 25 | $6.3M | $15.5M | ||
| Q4 24 | $61.8M | $5.8M | ||
| Q3 24 | $-26.2M | $29.5M | ||
| Q2 24 | $108.4M | $8.0M | ||
| Q1 24 | $4.0M | — |
| Q4 25 | $31.6M | — | ||
| Q3 25 | $-85.3M | $-5.2M | ||
| Q2 25 | $49.4M | $7.2M | ||
| Q1 25 | $3.9M | $12.7M | ||
| Q4 24 | $61.2M | $4.0M | ||
| Q3 24 | $-26.5M | $27.1M | ||
| Q2 24 | $108.0M | $5.3M | ||
| Q1 24 | $3.9M | — |
| Q4 25 | 7.8% | — | ||
| Q3 25 | -216.3% | -2.4% | ||
| Q2 25 | 24.2% | 3.0% | ||
| Q1 25 | 0.9% | 5.1% | ||
| Q4 24 | 17.1% | 1.9% | ||
| Q3 24 | -49.7% | 13.6% | ||
| Q2 24 | 47.5% | 2.5% | ||
| Q1 24 | 0.9% | — |
| Q4 25 | 0.2% | — | ||
| Q3 25 | 0.9% | 1.5% | ||
| Q2 25 | 0.2% | 2.1% | ||
| Q1 25 | 0.6% | 1.1% | ||
| Q4 24 | 0.1% | 0.8% | ||
| Q3 24 | 0.7% | 1.2% | ||
| Q2 24 | 0.2% | 1.3% | ||
| Q1 24 | 0.0% | — |
| Q4 25 | 3.94× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.27× | ||
| Q1 25 | — | 1.65× | ||
| Q4 24 | 55.61× | 1.29× | ||
| Q3 24 | — | 2.78× | ||
| Q2 24 | 4.25× | 0.77× | ||
| 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% |
USNA
Segment breakdown not available.
