Madison Square Garden Sports (MSGS) Gross Margin (2014 - 2026)
Madison Square Garden Sports' (MSGS) quarterly Gross Margin came in at 17.98% in Q1 2026, down 745.0% YoY from 2.79% in Q1 2025, and down 21.2% on a QoQ basis from 22.81% in Q4 2025.
Madison Square Garden Sports (MSGS) Gross Margin (2014 - 2026) Analysis & Trends
Madison Square Garden Sports (MSGS) has 13 years of Gross Margin data on file, last reported at 17.98% in 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 fell to 17.98% in Q1 2026, from 22.81% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 91.82% in Q3 2023 to a low of 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 sank 2850 bps.
- Tracing MSGS's Gross Margin over 5 years: stood at 36.19% in 2022, then slipped by 20 bps to 28.96% in 2023, then slipped by 21 bps to 22.92% in 2024, then retreated by 0 bps to 22.81% in 2025, then fell by 21 bps to 17.98% in 2026.
- The last three Gross Margin figures came in at 17.98% (Q1 2026), 22.81% (Q4 2025), and 79.02% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Netflix | 325.80 Bn | 316.67 Bn | 6.52 Bn | 51.93% |
| 2 | Walt Disney | 180.88 Bn | 175.70 Bn | 11.57 Bn | 45.84% |
| 3 | Warner Bros. Discovery | 71.60 Bn | 68.23 Bn | 4.10 Bn | 46.99% |
| 4 | Live Nation Entertainment | 41.97 Bn | 32.90 Bn | 1.94 Bn | 25.34% |
| 5 | Fox | 26.42 Bn | 22.22 Bn | - | - |
| 6 | Liberty Media | 23.42 Bn | 21.96 Bn | 329.00 Mn | 35.22% |
| 7 | Roku | 23.35 Bn | 20.80 Bn | 673.70 Mn | 49.73% |
| 8 | News | 18.65 Bn | 16.55 Bn | - | - |
| 9 | TKO Group Holdings | 14.38 Bn | 12.83 Bn | 990.96 Mn | 64.05% |
| 10 | Madison Square Garden Sports | 9.70 Bn | 9.54 Bn | 119.21 Mn | 42.77% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 42.77% |
| 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% |