vs
Side-by-side financial comparison of Madison Square Garden Sports Corp. (MSGS) and WATTS WATER TECHNOLOGIES INC (WTS). Click either name above to swap in a different company.
WATTS WATER TECHNOLOGIES INC is the larger business by last-quarter revenue ($625.1M vs $403.4M, roughly 1.5× Madison Square Garden Sports Corp.). WATTS WATER TECHNOLOGIES INC runs the higher net margin — 13.4% vs 2.0%, a 11.3% gap on every dollar of revenue. On growth, WATTS WATER TECHNOLOGIES INC posted the faster year-over-year revenue change (15.7% vs 12.8%). WATTS WATER TECHNOLOGIES INC produced more free cash flow last quarter ($140.3M vs $31.6M). Over the past eight quarters, WATTS WATER TECHNOLOGIES INC's revenue compounded faster (4.6% CAGR vs -3.1%).
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
AERCO International, Inc. is a manufacturer and supplier of commercial condensing boilers, high efficiency water heating equipment and energy recovery systems in the HVAC/plumbing industry across a variety of markets including education, lodging, government, office buildings, healthcare, industrial and multifamily housing. In 1949, AERCO introduced the industry's first semi-instantaneous, tankless steam-to-water water heater. In 1988, AERCO introduced the first condensing and fully modulating...
MSGS vs WTS — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $403.4M | $625.1M |
| Net Profit | $8.2M | $83.7M |
| Gross Margin | — | 49.5% |
| Operating Margin | 5.5% | 18.2% |
| Net Margin | 2.0% | 13.4% |
| Revenue YoY | 12.8% | 15.7% |
| Net Profit YoY | 641.9% | 24.0% |
| EPS (diluted) | $0.34 | $2.50 |
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 | $625.1M | ||
| Q3 25 | $39.5M | $611.7M | ||
| Q2 25 | $204.0M | $643.7M | ||
| Q1 25 | $424.2M | $558.0M | ||
| Q4 24 | $357.8M | $540.4M | ||
| Q3 24 | $53.3M | $543.6M | ||
| Q2 24 | $227.3M | $597.3M | ||
| Q1 24 | $430.0M | $570.9M |
| Q4 25 | $8.2M | $83.7M | ||
| Q3 25 | $-8.8M | $82.2M | ||
| Q2 25 | $-1.8M | $100.9M | ||
| Q1 25 | $-14.2M | $74.0M | ||
| Q4 24 | $1.1M | $67.5M | ||
| Q3 24 | $-7.5M | $69.1M | ||
| Q2 24 | $25.5M | $82.0M | ||
| Q1 24 | $37.9M | $72.6M |
| Q4 25 | — | 49.5% | ||
| Q3 25 | — | 48.8% | ||
| Q2 25 | — | 50.6% | ||
| Q1 25 | — | 48.8% | ||
| Q4 24 | — | 46.7% | ||
| Q3 24 | — | 47.3% | ||
| Q2 24 | — | 47.7% | ||
| Q1 24 | — | 46.9% |
| Q4 25 | 5.5% | 18.2% | ||
| Q3 25 | -69.5% | 18.2% | ||
| Q2 25 | -11.1% | 21.0% | ||
| Q1 25 | 7.6% | 15.7% | ||
| Q4 24 | 3.7% | 16.5% | ||
| Q3 24 | -15.5% | 17.1% | ||
| Q2 24 | 23.0% | 18.7% | ||
| Q1 24 | 18.5% | 16.9% |
| Q4 25 | 2.0% | 13.4% | ||
| Q3 25 | -22.3% | 13.4% | ||
| Q2 25 | -0.9% | 15.7% | ||
| Q1 25 | -3.4% | 13.3% | ||
| Q4 24 | 0.3% | 12.5% | ||
| Q3 24 | -14.1% | 12.7% | ||
| Q2 24 | 11.2% | 13.7% | ||
| Q1 24 | 8.8% | 12.7% |
| Q4 25 | $0.34 | $2.50 | ||
| Q3 25 | $-0.37 | $2.45 | ||
| Q2 25 | $-0.08 | $3.01 | ||
| Q1 25 | $-0.59 | $2.21 | ||
| Q4 24 | $0.05 | $2.02 | ||
| Q3 24 | $-0.31 | $2.06 | ||
| Q2 24 | $1.07 | $2.44 | ||
| Q1 24 | $1.57 | $2.17 |
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 | $405.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-282.1M | $2.0B |
| Total Assets | $1.5B | $2.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $81.3M | $405.5M | ||
| Q3 25 | $48.6M | $457.7M | ||
| Q2 25 | $144.6M | $369.3M | ||
| Q1 25 | $96.5M | $336.8M | ||
| Q4 24 | $107.8M | $386.9M | ||
| Q3 24 | $52.3M | $303.9M | ||
| Q2 24 | $89.1M | $279.4M | ||
| Q1 24 | $40.0M | $237.1M |
| Q4 25 | $-282.1M | $2.0B | ||
| Q3 25 | $-294.2M | $2.0B | ||
| Q2 25 | $-281.4M | $1.9B | ||
| Q1 25 | $-283.4M | $1.8B | ||
| Q4 24 | $-273.1M | $1.7B | ||
| Q3 24 | $-277.5M | $1.7B | ||
| Q2 24 | $-266.3M | $1.6B | ||
| Q1 24 | $-294.0M | $1.6B |
| Q4 25 | $1.5B | $2.9B | ||
| Q3 25 | $1.5B | $2.7B | ||
| Q2 25 | $1.5B | $2.6B | ||
| Q1 25 | $1.5B | $2.5B | ||
| Q4 24 | $1.4B | $2.4B | ||
| Q3 24 | $1.4B | $2.4B | ||
| Q2 24 | $1.3B | $2.4B | ||
| Q1 24 | $1.4B | $2.3B |
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 | $154.7M |
| Free Cash FlowOCF − Capex | $31.6M | $140.3M |
| FCF MarginFCF / Revenue | 7.8% | 22.4% |
| Capex IntensityCapex / Revenue | 0.2% | 2.3% |
| Cash ConversionOCF / Net Profit | 3.94× | 1.85× |
| TTM Free Cash FlowTrailing 4 quarters | $-480.0K | $356.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $32.4M | $154.7M | ||
| Q3 25 | $-85.0M | $122.4M | ||
| Q2 25 | $49.7M | $69.7M | ||
| Q1 25 | $6.3M | $55.2M | ||
| Q4 24 | $61.8M | $139.5M | ||
| Q3 24 | $-26.2M | $90.7M | ||
| Q2 24 | $108.4M | $85.3M | ||
| Q1 24 | $4.0M | $45.6M |
| Q4 25 | $31.6M | $140.3M | ||
| Q3 25 | $-85.3M | $110.9M | ||
| Q2 25 | $49.4M | $59.5M | ||
| Q1 25 | $3.9M | $45.6M | ||
| Q4 24 | $61.2M | $127.5M | ||
| Q3 24 | $-26.5M | $84.3M | ||
| Q2 24 | $108.0M | $78.5M | ||
| Q1 24 | $3.9M | $35.5M |
| Q4 25 | 7.8% | 22.4% | ||
| Q3 25 | -216.3% | 18.1% | ||
| Q2 25 | 24.2% | 9.2% | ||
| Q1 25 | 0.9% | 8.2% | ||
| Q4 24 | 17.1% | 23.6% | ||
| Q3 24 | -49.7% | 15.5% | ||
| Q2 24 | 47.5% | 13.1% | ||
| Q1 24 | 0.9% | 6.2% |
| Q4 25 | 0.2% | 2.3% | ||
| Q3 25 | 0.9% | 1.9% | ||
| Q2 25 | 0.2% | 1.6% | ||
| Q1 25 | 0.6% | 1.7% | ||
| Q4 24 | 0.1% | 2.2% | ||
| Q3 24 | 0.7% | 1.2% | ||
| Q2 24 | 0.2% | 1.1% | ||
| Q1 24 | 0.0% | 1.8% |
| Q4 25 | 3.94× | 1.85× | ||
| Q3 25 | — | 1.49× | ||
| Q2 25 | — | 0.69× | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | 55.61× | 2.07× | ||
| Q3 24 | — | 1.31× | ||
| Q2 24 | 4.25× | 1.04× | ||
| Q1 24 | 0.11× | 0.63× |
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% |
WTS
Segment breakdown not available.
