Madison Square Garden Sports (MSGS) Cost of Revenue (2014 - 2026)

Madison Square Garden Sports (MSGS) has 13 years of Cost of Revenue data on file, last reported at $354.5 million in Q1 2026.

• For the quarter ending Q1 2026, Cost of Revenue rose 12.07% year-over-year to $354.5 million; the trailing twelve-month figure through Mar 2026 stood at $829.0 million (up 17.08% YoY), and the FY2025 full-year result was $755.1 million, up 22.48% from the prior year.
• Cost of Revenue for Q1 2026 stood at $354.5 million, up from $311.4 million in the prior quarter.
• Across five years, Cost of Revenue topped out at $354.5 million in Q1 2026 and bottomed at $3.5 million in Q3 2023.
• The 5-year median for Cost of Revenue is $206.3 million (2022), against an average of $170.2 million.
• The widest annual swing landed in 2022, when Cost of Revenue tumbled 57.09%; it then soared 133.27% in 2024.
• A 5-year view of Cost of Revenue shows it stood at $225.7 million in 2022, then gained by 2.89% to $232.2 million in 2023, then gained by 18.74% to $275.8 million in 2024, then grew by 12.92% to $311.4 million in 2025, then advanced by 13.85% to $354.5 million in 2026.
• The last three Cost of Revenue figures came in at $354.5 million (Q1 2026), $311.4 million (Q4 2025), and $8.3 million (Q3 2025), per Business Quant data.

Peer Comparison