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Madison Square Garden Sports (MSGS) Operating Expenses (2016 - 2026)

Madison Square Garden Sports filings provide 12 years of Operating Expenses readings, the most recent being $69.1 million for Q4 2025.

  • On a quarterly basis, Operating Expenses rose 1.72% to $69.1 million in Q4 2025 year-over-year; TTM through Dec 2025 was $272.4 million, a 3.47% increase, with the full-year FY2025 number at $266.1 million, up 1.78% from a year prior.
  • Operating Expenses hit $69.1 million in Q4 2025 for Madison Square Garden Sports, up from $57.8 million in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of $76.4 million in Q1 2024 to a low of $43.7 million in Q3 2021.
  • Median Operating Expenses over the past 5 years was $63.1 million (2023), compared with a mean of $62.4 million.
  • The widest YoY moves for Operating Expenses: up 79.05% in 2021, down 81.79% in 2021.
  • Madison Square Garden Sports' Operating Expenses stood at $59.6 million in 2021, then rose by 26.91% to $75.6 million in 2022, then fell by 13.97% to $65.1 million in 2023, then increased by 4.36% to $67.9 million in 2024, then grew by 1.72% to $69.1 million in 2025.
  • The last three reported values for Operating Expenses were $69.1 million (Q4 2025), $57.8 million (Q3 2025), and $70.9 million (Q2 2025) per Business Quant data.