Madison Square Garden Sports (MSGS) Gross Margin (2014 - 2026)
Madison Square Garden Sports (MSGS) posted Gross Margin of 17.98% for Q1 2026, down 21.2% on a QoQ basis from 22.81% in Q4 2025, and down 745.0% year-over-year from 2.79% in Q1 2025.
Madison Square Garden Sports (MSGS) Gross Margin (2014 - 2026) Analysis & Trends
Madison Square Garden Sports' Gross Margin history runs 13 years deep, the most recent figure standing at 17.98% for Q1 2026.
- Quarterly Gross Margin fell 745.0% year-over-year to 17.98% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 23.17% (down 1019.0% YoY) and the FY2025 annual result came in at 27.34%, down 1264.0% from the prior year.
- Gross Margin was 17.98% for Q1 2026 at Madison Square Garden Sports, down from 22.81% in the prior quarter.
- Across five years, Gross Margin topped out at 91.82% in Q3 2023 and bottomed at 17.98% in Q1 2026.
- A 5-year average of 45.16% and a median of 36.67% in 2023 frame the typical range for Gross Margin.
- Annual changes were most pronounced in 2022 — Gross Margin jumped 3036 bps — and 2025, when it plunged 2850 bps.
- Madison Square Garden Sports' Gross Margin stood at 36.19% in 2022, then declined by 20 bps to 28.96% in 2023, then declined by 21 bps to 22.92% in 2024, then slipped by 0 bps to 22.81% in 2025, then decreased by 21 bps to 17.98% in 2026.
- Business Quant data shows MSGS's Gross Margin at 17.98% in Q1 2026, 22.81% in Q4 2025, and 79.02% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Netflix | 286.85 Bn | 277.73 Bn | 6.52 Bn | 51.93% |
| 2 | Walt Disney | 176.45 Bn | 177.38 Bn | 10.75 Bn | 42.72% |
| 3 | Warner Bros. Discovery | 71.03 Bn | 68.89 Bn | 4.25 Bn | 47.79% |
| 4 | Live Nation Entertainment | 40.94 Bn | 32.48 Bn | 1.31 Bn | 34.66% |
| 5 | Liberty Media | 29.72 Bn | 29.06 Bn | 298.00 Mn | 41.91% |
| 6 | Roku | 20.90 Bn | 18.52 Bn | 564.94 Mn | 45.24% |
| 7 | TKO Group Holdings | 20.86 Bn | 19.17 Bn | 862.52 Mn | 54.01% |
| 8 | Fox | 20.85 Bn | 17.36 Bn | - | - |
| 9 | News | 16.48 Bn | 15.01 Bn | - | - |
| 10 | Madison Square Garden Sports | 9.53 Bn | 9.53 Bn | 77.70 Mn | 17.98% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 17.98% |
| Dec 31, 2025 | 22.81% |
| Sep 30, 2025 | 79.02% |
| Jun 30, 2025 | 24.09% |
| Mar 31, 2025 | 25.43% |
| Dec 31, 2024 | 22.92% |
| Sep 30, 2024 | 84.60% |
| Jun 30, 2024 | 52.59% |
| Mar 31, 2024 | 36.50% |
| Dec 31, 2023 | 28.96% |
| Sep 30, 2023 | 91.82% |
| Jun 30, 2023 | 36.67% |
| Mar 31, 2023 | 37.54% |
| Dec 31, 2022 | 36.19% |
| Sep 30, 2022 | 84.72% |
| Jun 30, 2022 | 47.00% |
| Mar 31, 2022 | 38.93% |
| Dec 31, 2021 | 33.40% |
| Sep 30, 2021 | 54.36% |
| Jun 30, 2021 | 32.65% |