Madison Square Garden Sports
Operates the Knicks and Rangers franchise systems and monetizes games, media rights, and partnerships.
Something off on this page? Send us feedback.
Profile
Owns and operates the New York Knicks and New York Rangers franchise systems, with revenue from games, suites, sponsorships, merchandise, media rights, and league distributions. Operates as a single segment concentrated in the United States, under Dolan family voting control.
Owns and operates the New York Knicks and New York Rangers, together with the Westchester Knicks and Hartford Wolf Pack development affiliates. Both major-league teams play home games at Madison Square Garden, and the MSG Training Center supports the franchise systems.
Combines major-league teams with development affiliates and a shared training center, while monetizing games through tickets, suites, sponsorship and signage, food, beverages, merchandise, local media rights, and league distributions. The business is concentrated in the United States and reported as one segment.
Results depend on home-game schedules, team performance, league economics, and national media agreements. Operations also depend on arena licenses with a related company and local media-rights arrangements tied to MSG Networks. Dolan family super-voting shares shape corporate control, while league approvals constrain transactions involving the franchises. A proposed Knicks-Rangers separation remained conditional at the context cut-off.
Company facts
Categories
Key statistics
Year to date +50.4% · Average volume (30d) 202.5K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 14, 2026 | Seaport Global | Reiterate | Buy | $435 | $473 | |
| Aug 14, 2026 | Guggenheim | Reiterate | Buy | $522 | $584 | |
| Aug 14, 2026 | Susquehanna | Reiterate | Positive | $430 | $477 | |
| Jul 23, 2026 | Guggenheim | Reiterate | Buy | $477 | $522 | |
| Jul 15, 2026 | Morgan Stanley | Upgrade | Equal-Weight | Overweight | $295 | $450 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 12, 2026Q4 FY26 | $0.64 | $1.19 | +87.4% | $227.7M | $278.7M | +22.4% | +5.25% |
| May 8, 2026Q3 FY26 | $0.66 | −$0.78 | −218.2% | $429.7M | $432.2M | +0.6% | +4.24% |
| Feb 5, 2026Q2 FY26 | $0.66 | $0.34 | −48.5% | $395.7M | $403.4M | +2.0% | +2.06% |
| Oct 31, 2025Q1 FY26 | −$1.04 | −$0.37 | +64.4% | $394.6M | $39.5M | −90.0% | +1.18% |
Financial highlights
| 12 quarters | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $424.2M | $204.0M | $39.5M | $403.4M | $432.2M | $278.7M | |
| Gross profit | $107.0M | $48.3M | $30.4M | $91.2M | $76.9M | $121.6M | |
| Operating income | $32.3M | −$22.6M | −$27.4M | $22.2M | $3.2M | $30.9M | |
| Net income | −$14.2M | −$1.8M | −$8.8M | $8.2M | −$20.0M | $28.3M | |
| Diluted EPS | −$0.59 | −$0.07 | −$0.37 | $0.34 | −$0.83 | $1.18 | |
| Gross margin | 25.2% | 23.7% | 77.0% | 22.6% | 17.8% | 43.6% | |
| Operating margin | 7.6% | -11.1% | -69.5% | 5.5% | 0.7% | 11.1% |
Fiscal years (4-quarter sums)FY22 $821.4M · FY23 $887.4M · FY24 $1.03B · FY25 $1.04B · FY26 $1.15B
Revenue by product · Q4 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $164.5M · Total debt $1.14B · Total assets $1.54B · Shareholders' equity −$263.3M
Dividends
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Oct 14, 2022 | Oct 17 | Oct 31 | $7.00 | special dividend |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 24.08M · Float 20.80M · 86.4% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Dolan Mary S | 2.98M | 13.20% | 13D | Mar 9, 2026 |
| Mary S. Dolan, as a Trustee of the Charles F. Dolan Children Trust FBO Deborah Dolan-Sweeney and eac | 2.81M | 12.60% | 13D | Feb 4, 2025 |
| BlackRock, Inc. | 2.10M | 8.72% | 13F | Aug 7, 2026 |
| Silver Lake Group, L.L.C. | 1.90M | 7.89% | 13F | Aug 14, 2026 |
| Kathleen Margaret Dolan · other: Member of 13(d) Group | 1.84M | 7.64% | Form 4 | Feb 24, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Feb 20, 2026 | Charles P. Dolan | director | −5,659 | $325.26 |
Peers
- Rogers Communications
Controls NBA and NHL peers plus a vertically integrated sports-media platform
- Comcast
Direct NHL overlap through the Flyers and competing arena inventory
- TKO Group
Global live-sports rival across media, events, sponsorship, and licensing
- Atlanta Braves Series A
Listed U.S. franchise owner competing for fans, sponsors, and media value
- Manchester United
Global team brand competing across sponsorship, media, and matchday spend
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Madison Square Garden Sports | $388.96 | −0.09% | $9.37B | 1,216.7 | — | 8.1 | +36.7% |
| Rogers Communications | $36.69 | +0.25% | $19.77B | 4.3 | 14.7 | 1.2 | +3.3% |
| Comcast | $27.08 | +0.09% | $96.03B | 8.8 | 7.7 | 0.8 | −1.2% |
| TKO Group | $185.76 | +0.63% | $13.84B | 63.7 | 33.1 | 2.6 | +18.2% |
| Atlanta Braves Series A | $55.72 | −0.09% | $3.54B | 107.2 | — | 2.6 | −2.3% |
| Manchester United | $22.10 | −0.05% | $3.81B | — | — | 4.2 | +20.9% |
| Median | 36.2 | 14.7 | 2.6 | +3.3% |