Madison Square Garden Sports (MSGS) Cost of Revenue (2014 - 2026)
Madison Square Garden Sports' (MSGS) quarterly Cost of Revenue came in at $354.5 million in Q1 2026, up 12.07% YoY from $316.3 million in Q1 2025, and up 13.85% on a QoQ basis from $311.4 million in Q4 2025.
Madison Square Garden Sports (MSGS) Cost of Revenue (2014 - 2026) Analysis & Trends
Madison Square Garden Sports (MSGS) has 13 years of Cost of Revenue data on file, last reported at $354.5 million in Q1 2026.
- Quarterly Cost of Revenue rose 12.07% year-over-year to $354.5 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $829.0 million (up 17.08% YoY) and the FY2025 annual result came in at $755.1 million, up 22.48% from the prior year.
- Cost of Revenue advanced to $354.5 million in Q1 2026, from $311.4 million in the prior quarter.
- In the past five years, Cost of Revenue ranged from a high of $354.5 million in Q1 2026 to a low of $3.5 million in Q3 2023.
- A 5-year average of $170.2 million and a median of $206.3 million in 2022 frame the typical range for Cost of Revenue.
- Annual changes were most pronounced in 2022 — Cost of Revenue sank 57.09% — and 2024, when it soared 133.27%.
- Tracing MSGS's Cost of Revenue over 5 years: stood at $225.7 million in 2022, then rose by 2.89% to $232.2 million in 2023, then rose by 18.74% to $275.8 million in 2024, then climbed by 12.92% to $311.4 million in 2025, then gained 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.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Netflix | 325.80 Bn | 316.67 Bn | 6.52 Bn | 6.04 Bn |
| 2 | Walt Disney | 180.88 Bn | 175.70 Bn | 11.57 Bn | 13.67 Bn |
| 3 | Warner Bros. Discovery | 71.60 Bn | 68.23 Bn | 4.10 Bn | 4.62 Bn |
| 4 | Live Nation Entertainment | 41.97 Bn | 32.90 Bn | 1.94 Bn | 5.72 Bn |
| 5 | Fox | 26.42 Bn | 22.22 Bn | - | - |
| 6 | Liberty Media | 23.42 Bn | 21.96 Bn | 329.00 Mn | 605.00 Mn |
| 7 | Roku | 23.35 Bn | 20.80 Bn | 673.70 Mn | 680.99 Mn |
| 8 | News | 18.65 Bn | 16.55 Bn | - | - |
| 9 | TKO Group Holdings | 14.38 Bn | 12.83 Bn | 990.96 Mn | 556.12 Mn |
| 10 | Madison Square Garden Sports | 9.70 Bn | 9.54 Bn | 119.21 Mn | 159.53 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 159.53 Mn |
| Jun 30, 2026 | 159.53 Mn |
| Mar 31, 2026 | 354.50 Mn |
| Mar 31, 2026 | 354.50 Mn |
| Dec 31, 2025 | 311.39 Mn |
| Dec 31, 2025 | 311.39 Mn |
| Sep 30, 2025 | 8.28 Mn |
| Sep 30, 2025 | 8.28 Mn |
| Jun 30, 2025 | 154.82 Mn |
| Jun 30, 2025 | 154.82 Mn |
| Mar 31, 2025 | 316.34 Mn |
| Mar 31, 2025 | 316.34 Mn |
| Dec 31, 2024 | 275.75 Mn |
| Dec 31, 2024 | 275.75 Mn |
| Sep 30, 2024 | 8.21 Mn |
| Sep 30, 2024 | 8.21 Mn |
| Jun 30, 2024 | 107.74 Mn |
| Jun 30, 2024 | 107.74 Mn |
| Mar 31, 2024 | 273.03 Mn |
| Mar 31, 2024 | 273.03 Mn |