Madison Square Garden Sports Corp.

MSGS 10-K · FY 2025

MSGS FY 2025 request

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Income Statement

Income Statement
Metric FY 2025 FY 2024 YoY
Revenue 1,039,220 1,027,149 +1.2%
Show Product Lines breakouts
Event-related 462,533 458,213 +0.9%
League distributions and other 60,937 60,438 +0.8%
Media rights 285,566 297,756 -4.1%
Sponsorship, signage and suite licenses 230,184 210,742 +9.2%
Show Business Segments breakouts
Single Operating Segment 1,039,220 1,027,149 +1.2%
Show Related Party Transactions By Related Party breakouts
MSG Networks 157,389 175,325 -10.2%
Related Party 177,389 197,640 -10.2%
Direct Operating Costs 755,118 616,514 +22.5%
Show Related Party Transactions By Related Party breakouts
Related Party 102,272 104,611 -2.2%
Selling, General & Administrative 266,076 261,433 +1.8%
Show Related Party Transactions By Related Party breakouts
Related Party 70,943 63,442 +11.8%
Depreciation And Amortization 3,218 3,164 +1.7%
Show Business Segments breakouts
Single Operating Segment 3,218 3,164 +1.7%
Operating Income 14,808 146,038 -89.9%
Interest Income 4,034 2,787 +44.7%
Show Business Segments breakouts
Single Operating Segment 4,034 2,787 +44.7%
Interest Expense -21,652 -27,589 +21.5%
Show Business Segments breakouts
Single Operating Segment -21,652 -27,589 +21.5%
Other Non-Operating Income (Expense) -14,462 -15,568 +7.1%
Show Business Segments breakouts
Single Operating Segment -14,462 -15,568 +7.1%
Non-Operating Income (Expense) -32,080 -40,370 +20.5%
Income Before Taxes -17,272 105,668 -116.3%
Income Tax Expense (Benefit) -5,166 -46,897 +89.0%
Show Business Segments breakouts
Single Operating Segment -5,166 -46,897 +89.0%
Net Income -22,438 58,771 -138.2%
Show Business Segments breakouts
Single Operating Segment -22,438 58,771 -138.2%
Net Income -22,438 58,771 -138.2%
EPS (Basic) -0.93 2.45 -138.0%
EPS (Diluted) -0.93 2.44 -138.1%
Wtd Avg Shares (Basic) 24,089 24,011 +0.3%
Wtd Avg Shares (Diluted) 24,089 24,096 -0.0%
Comprehensive Income -22,383 58,828 -138.0%
Net Income Loss Available To Common Stockholders Basic -22,457 58,771 -138.2%

Balance Sheet

Balance Sheet
Metric FY 2025 FY 2024 YoY
Current Assets
Cash & Cash Equivalents 144,617 89,136 +62.2%
Restricted Cash And Cash Equivalents At Carrying Value 8,571 5,771 +48.5%
Accounts Receivable (Q)
Show Related Party Transactions By Related Party breakouts
Nonrelated Party 25,855 33,781 -23.5%
Related Party 3,582 32,255 -88.9%
Prepaid Expense Current 43,417 30,956 +40.3%
Other Assets Current 25,053 25,043 0.0%
Total Current Assets 251,095 216,942 +15.7%
Non-Current Assets
Property, Plant & Equipment 28,962 28,541 +1.5%
Operating Lease Right-of-Use Assets 760,456 694,566 +9.5%
Goodwill 226,523 226,523 0.0%
Deferred Tax Assets 34,821
Other Non-Current Assets 12,753 13,533 -5.8%
Total Assets 1,472,974 1,346,292 +9.4%
Other Assets
Indefinite Lived Intangible Assets Excluding Goodwill 103,644 103,644 0.0%
Show Indefinite Lived Intangible Assets By Major Class breakouts
Artistic Related Intangible Assets 1,080 1,080 0.0%
Franchise Rights 102,564 102,564 0.0%
Investments 54,720 62,543 -12.5%
Current Liabilities
Accounts Payable (Q)
Show Related Party Transactions By Related Party breakouts
Nonrelated Party 9,336 9,900 -5.7%
Related Party 4,807 6,718 -28.4%
Short Term Borrowings 24,000 30,000 -20.0%
Show Debt Instrument breakouts
2021 Rangers NHL Advance · Rangers 24,000
Employee Related Liabilities Current 98,924 133,930 -26.1%
Accrued League Related Charges Current 196,567 120,876 +62.6%
Other Accrued Liabilities Current 13,093 21,613 -39.4%
Operating Lease Liability Current 52,618 50,267 +4.7%
Show Counterparty Name breakouts
MSG Entertainment 46,040
Deferred Revenue (Current) 164,178 148,678 +10.4%
Total Current Liabilities 563,523 521,982 +8.0%
Non-Current Liabilities
Long-Term Debt 267,000 275,000 -2.9%
Operating Lease Liabilities 841,050 749,952 +12.1%
Show Counterparty Name breakouts
MSG Entertainment 811,190
Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent 4,086 4,103 -0.4%
Show Retirement Plan Type breakouts
Pension Plans Defined Benefit 4,086 4,103 -0.4%
Other Employee Related Liabilities Noncurrent 78,092 43,493 +79.6%
Contract With Customer Liability Noncurrent 662 1,147 -42.3%
Total Liabilities 1,754,413 1,612,602 +8.8%
Stockholders' Equity
Common Stock (Q)
Show Statement Class Of Stock breakouts
Common Class A 204 204 0.0%
Common Class B 45 45 0.0%
Additional Paid In Capital Common Stock 15,348 19,079 -19.6%
Treasury Stock Common Value -158,543 -169,547 +6.5%
Retained Earnings -137,596 -115,139 -19.5%
Accumulated Other Comprehensive Income -897 -952 +5.8%
Total Stockholders' Equity -281,439 -266,310 -5.7%
Total Liabilities & Equity 1,472,974 1,346,292 +9.4%

Cash Flow Statement

Cash Flow Statement
Metric FY 2025 FY 2024 YoY
Operating Activities
Depreciation & Amortization 3,218 3,164 +1.7%
Stock-Based Compensation 17,935 21,291 -15.8%
Deferred Income Taxes And Tax Credits -51,769 -7,135 -625.6%
Unrealized Gain Loss On Investments 11,536 10,591 +8.9%
Other Operating Activities Cash Flow Statement 5,538 7,264 -23.8%
Change in Accounts Receivable 7,926 6,358 +24.7%
Increase Decrease In Due From Affiliates Current 28,673 -16,286 +276.1%
Change in Prepaid & Other Assets -12,978 4,481 -389.6%
Increase Decrease Of Restricted Investments -2,503 -2,683 +6.7%
Increase Decrease In Accounts Payable Trade -574 803 -171.5%
Increase Decrease In Accounts Payable Related Parties -1,920 1,048 -283.2%
Increase Decrease In Accrued Liabilities And Other Operating Liabilities 66,389 -398 +16780.7%
Increase Decrease In Deferred Revenue 15,015 -19,892 +175.5%
Increase Decrease In Operating Lease Right Of Use Asset And Operating Lease Liability 27,559 24,754 +11.3%
Net Cash from Operations 91,607 92,131 -0.6%
Deferred Income Taxes -51,769 -7,135 -625.6%
Investing Activities
Capital Expenditures -3,621 -1,451 -149.6%
Payments To Acquire Investments -3,399 -7,447 +54.4%
Other Investing Activities 100
Net Cash from Investing -6,920 -8,898 +22.2%
Financing Activities
Tax Withholding for Share Compensation -11,773 -8,084 -45.6%
Show Award Type breakouts
Restricted Stock Units (RSUs) and Performance Stock Units (PSUs) -10,662
Restricted Stock Units (RSUs) and Performance Stock Units (PSUs) · Related Party -24
Payments Of Dividends -633 -701 +9.7%
Repayments Of Lines Of Credit -8,000 -95,000 +91.6%
Repayments Of Other Short Term Debt -6,000
Net Cash from Financing -26,406 -28,785 +8.3%
Supplemental
Unpaid Capital Expenditures 26 40 -35.0%
Income Taxes Paid 65,733 48,035 +36.8%
Other Cash Flow
Net Change in Cash 58,281 54,448 +7.0%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 153,188 94,907 +61.4%

Values in thousands USD. Source: SEC EDGAR 10-K filing.

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