Growth Metrics

Madison Square Garden Sports (MSGS) Cost of Revenue (2016 - 2026)

Madison Square Garden Sports filings provide 12 years of Cost of Revenue readings, the most recent being $311.4 million for Q4 2025.

  • On a quarterly basis, Cost of Revenue rose 12.92% to $311.4 million in Q4 2025 year-over-year; TTM through Dec 2025 was $790.8 million, a 18.97% increase, with the full-year FY2025 number at $755.1 million, up 22.48% from a year prior.
  • Cost of Revenue hit $311.4 million in Q4 2025 for Madison Square Garden Sports, up from $8.3 million in the prior quarter.
  • In the past five years, Cost of Revenue ranged from a high of $316.3 million in Q1 2025 to a low of $3.5 million in Q3 2023.
  • Median Cost of Revenue over the past 5 years was $140.7 million (2021), compared with a mean of $148.3 million.
  • The widest YoY moves for Cost of Revenue: up 1057.48% in 2021, down 78.44% in 2021.
  • Madison Square Garden Sports' Cost of Revenue stood at $192.8 million in 2021, then rose by 17.04% to $225.7 million in 2022, then increased by 2.89% to $232.2 million in 2023, then increased by 18.74% to $275.8 million in 2024, then increased by 12.92% to $311.4 million in 2025.
  • The last three reported values for Cost of Revenue were $311.4 million (Q4 2025), $8.3 million (Q3 2025), and $154.8 million (Q2 2025) per Business Quant data.