Madison Square Garden Sports (MSGS) Cost of Revenue (2014 - 2026)
Madison Square Garden Sports' Cost of Revenue was $159.53 million in fiscal Q4 2026 (quarter ended Jun 30, 2026), up 3.0% from $154.82 million a year earlier but down 55.0% from the prior quarter.
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Analysis
Madison Square Garden Sports (MSGS) Cost of Revenue (2014 - 2026) Analysis & Trends
For FY2026 (ended Jun 30, 2026), Cost of Revenue at Madison Square Garden Sports came in at $833.7 million, up 10.4% from FY2025.
- Cost of Revenue has now increased for five consecutive fiscal years, with a five-year compound annual growth rate of 24.2% (FY2021 to FY2026).
- In earlier fiscal years, Cost of Revenue was $755.12 million in FY2025 (+22.5%), $616.51 million in FY2024 (+12.3%), $548.81 million in FY2023 (+9.6%) and $500.56 million in FY2022 (+77.6%).
- Quarterly Cost of Revenue has moved between $3.52 million (fiscal Q1 2024) and $354.5 million (fiscal Q3 2026) over five years.
- Compared with a year earlier, Cost of Revenue has increased for 11 straight quarters, with growth averaging 30.1% over the last eight quarters.
- The best year-over-year quarter for Cost of Revenue over five years was fiscal Q1 2025 (growth of 133.3%); the worst was fiscal Q1 2022 (a decline of 78.4%).
- Per Business Quant data, MSGS's Cost of Revenue in the three fiscal quarters before Q4 2026 was $354.5 million (Q3 2026), $311.39 million (Q2 2026) and $8.28 million (Q1 2026).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Las Vegas Sands | 23.47 Bn | 9.89 Bn | 1.48 Bn | 1.67 Bn |
| 2 | DraftKings | 16.53 Bn | 12.19 Bn | 551.45 Mn | 891.78 Mn |
| 3 | Flutter Entertainment | 12.99 Bn | 6.73 Bn | 1.71 Bn | 2.61 Bn |
| 4 | Madison Square Garden Sports | 9.80 Bn | 9.40 Bn | 119.21 Mn | 159.53 Mn |
| 5 | Life Time Group Holdings | 9.15 Bn | 8.39 Bn | 412.26 Mn | 453.73 Mn |
| 6 | Wynn Resorts | 7.85 Bn | 1.40 Bn | 758.95 Mn | 1.10 Bn |
| 7 | MGM Resorts International | 7.67 Bn | -517.04 Mn | 1.98 Bn | 2.47 Bn |
| 8 | Light & Wonder | 7.12 Bn | 6.43 Bn | 618.00 Mn | 210.00 Mn |
| 9 | Caesars Entertainment | 6.04 Bn | 2.66 Bn | 1.50 Bn | 1.49 Bn |
| 10 | Super Group (SGHC) | 5.70 Bn | 3.69 Bn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 159.53 Mn |
| Mar 31, 2026 | 354.50 Mn |
| Dec 31, 2025 | 311.39 Mn |
| Sep 30, 2025 | 8.28 Mn |
| Jun 30, 2025 | 154.82 Mn |
| Mar 31, 2025 | 316.34 Mn |
| Dec 31, 2024 | 275.75 Mn |
| Sep 30, 2024 | 8.21 Mn |
| Jun 30, 2024 | 107.74 Mn |
| Mar 31, 2024 | 273.03 Mn |
| Dec 31, 2023 | 232.23 Mn |
| Sep 30, 2023 | 3.52 Mn |
| Jun 30, 2023 | 80.38 Mn |
| Mar 31, 2023 | 239.05 Mn |
| Dec 31, 2022 | 225.70 Mn |
| Sep 30, 2022 | 3.68 Mn |
| Jun 30, 2022 | 92.87 Mn |
| Mar 31, 2022 | 206.27 Mn |
| Dec 31, 2021 | 192.85 Mn |
| Sep 30, 2021 | 8.58 Mn |
API Access
Madison Square Garden Sports Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=MSGS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "MSGS", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=MSGS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();