Madison Square Garden Entertainment Corp.

Consumer Discretionary
Services-Misc. Amusement & Recreation
www.msgentertainment.com

Earnings Score
Safety Score

Market Cap $1.81B
Debt $676.56M
Cash $37.61M
EV $2.45B
FCF $55.78M

Earnings

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Sales & Net Margins

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Earnings	$175.65M
EBIT	$126.88M
ROA	8%
FCF	$55.78M
Equity	-$48.70M
Growth Stability	1
PE	10.31
PEG	0.24
PB	-37.2
P/FCF	32.48
P/S	1.9
Price/Cash	0.02
Debt/Equity	-13.89
Debt/FCF	12.13
Net Margins	-14%
Op. Margins	13%
Earnings CAGR	43%
Sales Growth YoY	-2%
Sales Growth QoQ	-25%
Sales CAGR	-0%
FCF CAGR	-48%
Equity CAGR	-7%
Earnings Stability	-0.92
Earnings Growth YoY	-62%

Earnings Growth QoQ	-129%
Earnings CAGR 5Y	43%
Sales CAGR 5Y	-0%
FCF CAGR 5Y	-48%
Equity CAGR 5Y	-7%
Earnings CAGR 3Y	-0%
Sales CAGR 3Y	-0%
FCF CAGR 3Y	-48%
Equity CAGR 3Y	-7%
Market Cap	$1.81B
Revenue	$955.77M
Assets	$1.61B
Total Debt	$676.56M
Cash	$37.61M
Shares Outstanding	48.22M
EV	2.45B
Earnings Score	6%
Safety Score	54%
Working Capital	-260.82M
Current Ratio	0.5
Shares Growth 3y	-3%
Equity Growth QoQ	110%
Equity Growth YoY	-79%

Assets & ROA

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Stockholders Equity & ROE

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Madison Square Garden Entertainment Corp. (MSG Entertainment) is a leader in live entertainment, delivering unforgettable experiences while forging deep connections with diverse and passionate audiences. The Company's portfolio includes a collection of world-renowned venues New York's Madison Square Garden, The Theater at Madison Square Garden, Radio City Music Hall, and Beacon Theatre; and The Chicago Theatre that showcase a broad array of sporting events, concerts, family shows, and special events for millions of guests annually. In addition, the Company features the original production, the Christmas Spectacular Starring the Radio City Rockettes, which has been a holiday tradition for 90 years.

SEC Filings

Direct access to Madison Square Garden Entertainment Corp. (MSGE) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-K Jun 30
- 10-Q Mar 31
2023
- 10-Q Dec 31
- 10-Q Sep 30
- 10-K Jun 30
- 10-Q Mar 31

Sector Comparison

How does Madison Square Garden Entertainment Corp. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Madison Square Garden Entertainment Corp. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 43%

Stability -92%

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Madison Square Garden Entertainment Corp. Discounted Cash Flow

Fully customizable DCF calculator online for Madison Square Garden Entertainment Corp..

Years

Calculation mode

= $50M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$56M	$29M	$15M	$7.8M	$4M	$2.1M	$1.1M	$563K	$292K	$151K	$79K	$785K
DCF		$26M	$12M	$5.8M	$2.8M	$1.3M	$613K	$289K	$136K	$64K	$30K	$303K
Value	$50M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	06/2021	06/2022	06/2023	06/2024	TTM
Net Margins	-268%	-21%	9%	15%	-14%
ROA	-	-	7%	7%	8%
ROE	-	-	-	-623%	-

Bad Net Margins (-13.93%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	06/2021	06/2022	06/2023	06/2024	TTM
Debt over FCF	-	-	5.47	7.18	12.13
Debt over Equity	-	20.43	-	-27.01	-13.89
Growth Stability	-	-	-	-	1

Bad Debt/FCF ratio (12.13)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Good Debt/Equity ratio (-13.89)

The company is not overleveraged and has a good balance between equity and debt.

Good Graham’s Stability (1)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	06/2021	06/2022	06/2023	06/2024	CAGR 5Y
Revenue YoY growth	-	699%	30%	13%	-0%
Earnings YoY growth	-	-38%	-156%	90%	43%
Equity YoY growth	-	-93%	-100%	-	-7%
FCF YoY growth	-	-150%	51%	-28%	-48%