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Side-by-side financial comparison of Madison Square Garden Sports Corp. (MSGS) and Verisign (VRSN). Click either name above to swap in a different company.
Verisign is the larger business by last-quarter revenue ($425.3M vs $403.4M, roughly 1.1× Madison Square Garden Sports Corp.). Verisign runs the higher net margin — 48.5% vs 2.0%, a 46.4% gap on every dollar of revenue. On growth, Madison Square Garden Sports Corp. posted the faster year-over-year revenue change (12.8% vs 7.6%). Verisign produced more free cash flow last quarter ($285.1M vs $31.6M). Over the past eight quarters, Verisign's revenue compounded faster (5.2% CAGR vs -3.1%).
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
Verisign, Inc. is an American company based in Reston, Virginia, that operates a diverse array of network infrastructure, including two of the Internet's thirteen root nameservers, the authoritative registry for the .com, .net, and .name generic top-level domains and the .cc country-code top-level domains, and the back-end systems for the .jobs and .edu sponsored top-level domains.
MSGS vs VRSN — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $403.4M | $425.3M |
| Net Profit | $8.2M | $206.2M |
| Gross Margin | — | 88.5% |
| Operating Margin | 5.5% | 67.0% |
| Net Margin | 2.0% | 48.5% |
| Revenue YoY | 12.8% | 7.6% |
| Net Profit YoY | 641.9% | 7.7% |
| EPS (diluted) | $0.34 | — |
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 | $425.3M | ||
| Q3 25 | $39.5M | $419.1M | ||
| Q2 25 | $204.0M | $409.9M | ||
| Q1 25 | $424.2M | $402.3M | ||
| Q4 24 | $357.8M | $395.4M | ||
| Q3 24 | $53.3M | $390.6M | ||
| Q2 24 | $227.3M | $387.1M | ||
| Q1 24 | $430.0M | $384.3M |
| Q4 25 | $8.2M | $206.2M | ||
| Q3 25 | $-8.8M | $212.8M | ||
| Q2 25 | $-1.8M | $207.4M | ||
| Q1 25 | $-14.2M | $199.3M | ||
| Q4 24 | $1.1M | $191.5M | ||
| Q3 24 | $-7.5M | $201.3M | ||
| Q2 24 | $25.5M | $198.8M | ||
| Q1 24 | $37.9M | $194.1M |
| Q4 25 | — | 88.5% | ||
| Q3 25 | — | 88.4% | ||
| Q2 25 | — | 88.0% | ||
| Q1 25 | — | 87.7% | ||
| Q4 24 | — | 87.8% | ||
| Q3 24 | — | 88.0% | ||
| Q2 24 | — | 87.8% | ||
| Q1 24 | — | 87.2% |
| Q4 25 | 5.5% | 67.0% | ||
| Q3 25 | -69.5% | 67.8% | ||
| Q2 25 | -11.1% | 68.5% | ||
| Q1 25 | 7.6% | 67.4% | ||
| Q4 24 | 3.7% | 66.7% | ||
| Q3 24 | -15.5% | 68.9% | ||
| Q2 24 | 23.0% | 68.8% | ||
| Q1 24 | 18.5% | 67.4% |
| Q4 25 | 2.0% | 48.5% | ||
| Q3 25 | -22.3% | 50.8% | ||
| Q2 25 | -0.9% | 50.6% | ||
| Q1 25 | -3.4% | 49.5% | ||
| Q4 24 | 0.3% | 48.4% | ||
| Q3 24 | -14.1% | 51.5% | ||
| Q2 24 | 11.2% | 51.4% | ||
| Q1 24 | 8.8% | 50.5% |
| Q4 25 | $0.34 | — | ||
| Q3 25 | $-0.37 | — | ||
| Q2 25 | $-0.08 | — | ||
| Q1 25 | $-0.59 | — | ||
| Q4 24 | $0.05 | — | ||
| Q3 24 | $-0.31 | — | ||
| Q2 24 | $1.07 | — | ||
| 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 | $580.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-282.1M | $-2.2B |
| Total Assets | $1.5B | $1.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $81.3M | $580.5M | ||
| Q3 25 | $48.6M | $617.7M | ||
| Q2 25 | $144.6M | $593.8M | ||
| Q1 25 | $96.5M | $648.5M | ||
| Q4 24 | $107.8M | $599.9M | ||
| Q3 24 | $52.3M | $644.9M | ||
| Q2 24 | $89.1M | $689.9M | ||
| Q1 24 | $40.0M | $924.7M |
| Q4 25 | $-282.1M | $-2.2B | ||
| Q3 25 | $-294.2M | $-2.1B | ||
| Q2 25 | $-281.4M | $-2.0B | ||
| Q1 25 | $-283.4M | $-2.0B | ||
| Q4 24 | $-273.1M | $-2.0B | ||
| Q3 24 | $-277.5M | $-1.9B | ||
| Q2 24 | $-266.3M | $-1.8B | ||
| Q1 24 | $-294.0M | $-1.6B |
| Q4 25 | $1.5B | $1.3B | ||
| Q3 25 | $1.5B | $1.4B | ||
| Q2 25 | $1.5B | $1.4B | ||
| Q1 25 | $1.5B | $1.4B | ||
| Q4 24 | $1.4B | $1.4B | ||
| Q3 24 | $1.4B | $1.5B | ||
| Q2 24 | $1.3B | $1.5B | ||
| Q1 24 | $1.4B | $1.7B |
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 | $289.6M |
| Free Cash FlowOCF − Capex | $31.6M | $285.1M |
| FCF MarginFCF / Revenue | 7.8% | 67.0% |
| Capex IntensityCapex / Revenue | 0.2% | 1.1% |
| Cash ConversionOCF / Net Profit | 3.94× | 1.40× |
| TTM Free Cash FlowTrailing 4 quarters | $-480.0K | $1.1B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $32.4M | $289.6M | ||
| Q3 25 | $-85.0M | $307.7M | ||
| Q2 25 | $49.7M | $202.5M | ||
| Q1 25 | $6.3M | $291.3M | ||
| Q4 24 | $61.8M | $231.5M | ||
| Q3 24 | $-26.2M | $253.4M | ||
| Q2 24 | $108.4M | $160.4M | ||
| Q1 24 | $4.0M | $257.3M |
| Q4 25 | $31.6M | $285.1M | ||
| Q3 25 | $-85.3M | $303.0M | ||
| Q2 25 | $49.4M | $194.7M | ||
| Q1 25 | $3.9M | $285.5M | ||
| Q4 24 | $61.2M | $222.0M | ||
| Q3 24 | $-26.5M | $247.8M | ||
| Q2 24 | $108.0M | $151.2M | ||
| Q1 24 | $3.9M | $253.5M |
| Q4 25 | 7.8% | 67.0% | ||
| Q3 25 | -216.3% | 72.3% | ||
| Q2 25 | 24.2% | 47.5% | ||
| Q1 25 | 0.9% | 71.0% | ||
| Q4 24 | 17.1% | 56.1% | ||
| Q3 24 | -49.7% | 63.4% | ||
| Q2 24 | 47.5% | 39.1% | ||
| Q1 24 | 0.9% | 66.0% |
| Q4 25 | 0.2% | 1.1% | ||
| Q3 25 | 0.9% | 1.1% | ||
| Q2 25 | 0.2% | 1.9% | ||
| Q1 25 | 0.6% | 1.4% | ||
| Q4 24 | 0.1% | 2.4% | ||
| Q3 24 | 0.7% | 1.4% | ||
| Q2 24 | 0.2% | 2.4% | ||
| Q1 24 | 0.0% | 1.0% |
| Q4 25 | 3.94× | 1.40× | ||
| Q3 25 | — | 1.45× | ||
| Q2 25 | — | 0.98× | ||
| Q1 25 | — | 1.46× | ||
| Q4 24 | 55.61× | 1.21× | ||
| Q3 24 | — | 1.26× | ||
| Q2 24 | 4.25× | 0.81× | ||
| Q1 24 | 0.11× | 1.33× |
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% |
VRSN
Segment breakdown not available.
