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Side-by-side financial comparison of Madison Square Garden Sports Corp. (MSGS) and NCR Voyix Corp (VYX). Click either name above to swap in a different company.
NCR Voyix Corp is the larger business by last-quarter revenue ($720.0M vs $403.4M, roughly 1.8× Madison Square Garden Sports Corp.). NCR Voyix Corp runs the higher net margin — 13.6% vs 2.0%, a 11.6% gap on every dollar of revenue. On growth, Madison Square Garden Sports Corp. posted the faster year-over-year revenue change (12.8% vs 6.2%). Over the past eight quarters, NCR Voyix Corp's revenue compounded faster (0.7% CAGR vs -3.1%).
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
NCR Voyix Corporation, previously known as NCR Corporation and National Cash Register, is a global software, consulting and technology company providing several professional services and electronic products. It manufactured self-service kiosks, point-of-sale terminals, automated teller machines, check processing systems, and barcode scanners.
MSGS vs VYX — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $403.4M | $720.0M |
| Net Profit | $8.2M | $98.0M |
| Gross Margin | — | — |
| Operating Margin | 5.5% | 2.4% |
| Net Margin | 2.0% | 13.6% |
| Revenue YoY | 12.8% | 6.2% |
| Net Profit YoY | 641.9% | 990.9% |
| EPS (diluted) | $0.34 | $0.64 |
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 | $720.0M | ||
| Q3 25 | $39.5M | $684.0M | ||
| Q2 25 | $204.0M | $666.0M | ||
| Q1 25 | $424.2M | $617.0M | ||
| Q4 24 | $357.8M | $678.0M | ||
| Q3 24 | $53.3M | $708.0M | ||
| Q2 24 | $227.3M | $722.0M | ||
| Q1 24 | $430.0M | $710.0M |
| Q4 25 | $8.2M | $98.0M | ||
| Q3 25 | $-8.8M | $-19.0M | ||
| Q2 25 | $-1.8M | $0 | ||
| Q1 25 | $-14.2M | $-17.0M | ||
| Q4 24 | $1.1M | $-11.0M | ||
| Q3 24 | $-7.5M | $1.1B | ||
| Q2 24 | $25.5M | $-73.0M | ||
| Q1 24 | $37.9M | $-40.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 23.4% | ||
| Q2 24 | — | 17.5% | ||
| Q1 24 | — | 19.4% |
| Q4 25 | 5.5% | 2.4% | ||
| Q3 25 | -69.5% | 2.2% | ||
| Q2 25 | -11.1% | 2.1% | ||
| Q1 25 | 7.6% | -3.2% | ||
| Q4 24 | 3.7% | -0.1% | ||
| Q3 24 | -15.5% | 2.3% | ||
| Q2 24 | 23.0% | -4.7% | ||
| Q1 24 | 18.5% | -2.7% |
| Q4 25 | 2.0% | 13.6% | ||
| Q3 25 | -22.3% | -2.8% | ||
| Q2 25 | -0.9% | — | ||
| Q1 25 | -3.4% | -2.8% | ||
| Q4 24 | 0.3% | -1.6% | ||
| Q3 24 | -14.1% | 152.8% | ||
| Q2 24 | 11.2% | -10.1% | ||
| Q1 24 | 8.8% | -5.6% |
| Q4 25 | $0.34 | $0.64 | ||
| Q3 25 | $-0.37 | $-0.16 | ||
| Q2 25 | $-0.08 | $-0.03 | ||
| Q1 25 | $-0.59 | $-0.15 | ||
| Q4 24 | $0.05 | $-0.05 | ||
| Q3 24 | $-0.31 | $7.41 | ||
| Q2 24 | $1.07 | $-0.53 | ||
| Q1 24 | $1.57 | $-0.31 |
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 | $231.0M |
| Total DebtLower is stronger | — | $1.1B |
| Stockholders' EquityBook value | $-282.1M | $948.0M |
| Total Assets | $1.5B | $3.9B |
| Debt / EquityLower = less leverage | — | 1.17× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $81.3M | $231.0M | ||
| Q3 25 | $48.6M | $282.0M | ||
| Q2 25 | $144.6M | $276.0M | ||
| Q1 25 | $96.5M | $573.0M | ||
| Q4 24 | $107.8M | $722.0M | ||
| Q3 24 | $52.3M | $792.0M | ||
| Q2 24 | $89.1M | $203.0M | ||
| Q1 24 | $40.0M | $241.0M |
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $-282.1M | $948.0M | ||
| Q3 25 | $-294.2M | $848.0M | ||
| Q2 25 | $-281.4M | $867.0M | ||
| Q1 25 | $-283.4M | $857.0M | ||
| Q4 24 | $-273.1M | $933.0M | ||
| Q3 24 | $-277.5M | $1.0B | ||
| Q2 24 | $-266.3M | $-85.0M | ||
| Q1 24 | $-294.0M | $-34.0M |
| Q4 25 | $1.5B | $3.9B | ||
| Q3 25 | $1.5B | $4.0B | ||
| Q2 25 | $1.5B | $4.0B | ||
| Q1 25 | $1.5B | $4.3B | ||
| Q4 24 | $1.4B | $4.5B | ||
| Q3 24 | $1.4B | $4.7B | ||
| Q2 24 | $1.3B | $4.8B | ||
| Q1 24 | $1.4B | $5.0B |
| Q4 25 | — | 1.17× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.18× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $60.0M |
| Free Cash FlowOCF − Capex | $31.6M | — |
| FCF MarginFCF / Revenue | 7.8% | — |
| Capex IntensityCapex / Revenue | 0.2% | — |
| Cash ConversionOCF / Net Profit | 3.94× | 0.61× |
| TTM Free Cash FlowTrailing 4 quarters | $-480.0K | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $32.4M | $60.0M | ||
| Q3 25 | $-85.0M | $14.0M | ||
| Q2 25 | $49.7M | $-242.0M | ||
| Q1 25 | $6.3M | $-42.0M | ||
| Q4 24 | $61.8M | $-170.0M | ||
| Q3 24 | $-26.2M | $11.0M | ||
| Q2 24 | $108.4M | $62.0M | ||
| Q1 24 | $4.0M | $-35.0M |
| Q4 25 | $31.6M | — | ||
| Q3 25 | $-85.3M | $10.0M | ||
| Q2 25 | $49.4M | $-249.0M | ||
| Q1 25 | $3.9M | $-50.0M | ||
| Q4 24 | $61.2M | $-177.0M | ||
| Q3 24 | $-26.5M | $9.0M | ||
| Q2 24 | $108.0M | $49.0M | ||
| Q1 24 | $3.9M | $-43.0M |
| Q4 25 | 7.8% | — | ||
| Q3 25 | -216.3% | 1.5% | ||
| Q2 25 | 24.2% | -37.4% | ||
| Q1 25 | 0.9% | -8.1% | ||
| Q4 24 | 17.1% | -26.1% | ||
| Q3 24 | -49.7% | 1.3% | ||
| Q2 24 | 47.5% | 6.8% | ||
| Q1 24 | 0.9% | -6.1% |
| Q4 25 | 0.2% | — | ||
| Q3 25 | 0.9% | 0.6% | ||
| Q2 25 | 0.2% | 1.1% | ||
| Q1 25 | 0.6% | 1.3% | ||
| Q4 24 | 0.1% | 1.0% | ||
| Q3 24 | 0.7% | 0.3% | ||
| Q2 24 | 0.2% | 1.8% | ||
| Q1 24 | 0.0% | 1.1% |
| Q4 25 | 3.94× | 0.61× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 55.61× | — | ||
| Q3 24 | — | 0.01× | ||
| Q2 24 | 4.25× | — | ||
| 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% |
VYX
| Services | $484.0M | 67% |
| Products | $236.0M | 33% |
