Madison Square Garden Sports Corp. (MSGS) Stock

Madison Square Garden Sports Corp. (MSGS) is a Communication Services stock trading at $398.46 (as of 2026-08-20), with a market capitalization of $9.66B and a trailing P/E of 1245.5. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Madison Square Garden Sports Corp. is a professional sports and esports organization that owns and operates NBA and NHL franchises, including the New York Knicks and the New York Rangers, along with NBA G League and AHL development teams. It also operates esports entities such as Knicks Gaming and a controlling interest in Counter Logic Gaming, and runs team performance centers.

Understand Madison Square Garden Sports Corp.: how it makes money

Madison Square Garden Sports Corp. owns and operates the New York Knicks (NBA) and New York Rangers (NHL), along with related development league teams and esports franchises, and it makes money through event-driven ticket and arena activities, media rights, and playoff-related events and revenue.

The profit model is structurally tied to game and playoff activity from its owned sports franchises, plus recurring media rights revenue.

Revenue by segment (latest quarter)
Event$0.2B
Media Rights$0.1B
Playoffs$0.1B

Business quality (Mixed): Revenue is concentrated in event and playoff outcomes and media rights, and operating results are reflected in a relatively low operating margin (0.5%).

Bull case

  • Fan base durability: The Average Season Ticket Renewal Rate (Knicks and Rangers) is 94%, which supports the stability of regular-season attendance and event demand.
  • Clear linkage between playoffs and results: Playoff Games Hosted at The Garden is 15, and the company also reports Playoff-Related Revenue (0.12B), making playoff performance an observable driver.

Bear case

  • Playoff outcome variability: Playoff-Related Revenue is a distinct contributor (0.12B), and it depends on the number of playoff games hosted and the economics of each playoff game (Average Playoff Revenue per Game).
  • Thin operating cushion: Operating margin is 0.5%, so the business may have less room to absorb unfavorable shifts in event activity or cost intensity tied to hosted games.
Valuation — source: SEC EDGAR (first-party)
Price$398.46
Market Cap$9.66B
P/E Ratio1245.5
EV / EBITDA304.5
Price / Sales8.38
FCF Yield0.6%
DCF Value (model)$104.16
DCF Upside vs Price-73.9%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$1.15B
Net Margin0.7%
Revenue Growth (YoY)11.0%
EPS Growth (YoY)-134.4%
FCF Growth (YoY)-30.4%
Financial Health — source: SEC EDGAR
Altman Z-Score3.66 (safe)
Valuation vs Sector & Industry
Stock P/E1245.5
Sector P/E (Communication Services)24.4
Industry P/E (Entertainment)39.5
vs Sector5008.3%
vs Industry3053.0%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock, Inc. ($646.63M)
Institutional Holders Tracked10
Company
SectorCommunication Services
IndustryEntertainment
CEOJames Lawrence Dolan
Employees533
CountryUS
IPO Date2015-09-17

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MSGS earnings history · MSGS institutional & insider holders · MSGS KPIs & operating metrics · MSGS financials · MSGS investor presentations & press releases · MSGS SEC filings · MSGS peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.