Madison Square Garden Sports (MSGS) Operating Expenses (2014 - 2026)
Madison Square Garden Sports' Operating Expenses was $86.28 million in fiscal Q4 2026 (quarter ended Jun 30, 2026), up 21.7% from $70.89 million a year earlier and up 15.1% from the prior quarter.
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Analysis
Madison Square Garden Sports (MSGS) Operating Expenses (2014 - 2026) Analysis & Trends
For FY2026 (ended Jun 30, 2026), Operating Expenses at Madison Square Garden Sports came in at $288.07 million, up 8.3% from FY2025.
- Operating Expenses has now increased for four consecutive fiscal years, with a five-year compound annual growth rate of 3.2% (FY2021 to FY2026).
- In earlier fiscal years, Operating Expenses was $266.08 million in FY2025 (+1.8%), $261.43 million in FY2024 (+4.6%), $249.89 million in FY2023 (+8.8%) and $229.67 million in FY2022 (-6.6%).
- The fiscal Q4 2026 figure marks the highest quarterly Operating Expenses since fiscal Q3 2020.
- Compared with a year earlier, Operating Expenses has increased for five straight quarters, with growth averaging 5.1% over the last eight quarters.
- The best year-over-year quarter for Operating Expenses over five years was fiscal Q3 2022 (growth of 47.2%); the worst was fiscal Q4 2022 (a decline of 15.5%).
- Per Business Quant data, MSGS's Operating Expenses in the three fiscal quarters before Q4 2026 was $74.94 million (Q3 2026), $69.07 million (Q2 2026) and $57.79 million (Q1 2026).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Las Vegas Sands | 25.14 Bn | 11.55 Bn | 1.48 Bn | 2.54 Bn |
| 2 | DraftKings | 18.81 Bn | 14.47 Bn | 551.45 Mn | 297.09 Mn |
| 3 | Flutter Entertainment | 13.30 Bn | 7.05 Bn | 1.71 Bn | 845.00 Mn |
| 4 | Madison Square Garden Sports | 10.02 Bn | 9.62 Bn | 119.21 Mn | 86.28 Mn |
| 5 | Life Time Group Holdings | 8.83 Bn | 8.07 Bn | 412.26 Mn | 716.29 Mn |
| 6 | Wynn Resorts | 8.33 Bn | 1.88 Bn | 758.95 Mn | 1.56 Bn |
| 7 | MGM Resorts International | 8.01 Bn | -169.85 Mn | 1.98 Bn | 3.97 Bn |
| 8 | Caesars Entertainment | 6.03 Bn | 2.65 Bn | 1.50 Bn | 2.48 Bn |
| 9 | Super Group (SGHC) | 5.93 Bn | 3.92 Bn | - | -50.00 Mn |
| 10 | Red Rock Resorts | 5.30 Bn | 4.88 Bn | 315.50 Mn | 374.27 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 86.28 Mn |
| Mar 31, 2026 | 74.94 Mn |
| Dec 31, 2025 | 69.07 Mn |
| Sep 30, 2025 | 57.79 Mn |
| Jun 30, 2025 | 70.89 Mn |
| Mar 31, 2025 | 74.70 Mn |
| Dec 31, 2024 | 67.90 Mn |
| Sep 30, 2024 | 52.59 Mn |
| Jun 30, 2024 | 66.41 Mn |
| Mar 31, 2024 | 76.40 Mn |
| Dec 31, 2023 | 65.07 Mn |
| Sep 30, 2023 | 53.56 Mn |
| Jun 30, 2023 | 57.87 Mn |
| Mar 31, 2023 | 61.10 Mn |
| Dec 31, 2022 | 75.64 Mn |
| Sep 30, 2022 | 55.28 Mn |
| Jun 30, 2022 | 57.44 Mn |
| Mar 31, 2022 | 68.90 Mn |
| Dec 31, 2021 | 59.60 Mn |
| Sep 30, 2021 | 43.73 Mn |
API Access
Madison Square Garden Sports Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=MSGS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "MSGS", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=MSGS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();