Madison Square Garden Sports (MSGS) Stock Overview
Operates as a professional sports company in the United States. More details
| Snowflake Score | |
|---|---|
| Valuation | 0/6 |
| Future Growth | 3/6 |
| Past Performance | 0/6 |
| Financial Health | 2/6 |
| Dividends | 0/6 |
MSGS Community Fair Values
Create NarrativeSee what 9 others think this stock is worth. Follow their fair value or set your own to get alerts.
Analyst Price Targets
Madison Square Garden Sports Corp. Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$374.29 |
| 52 Week High | US$376.24 |
| 52 Week Low | US$186.00 |
| Beta | 0.57 |
| 1 Month Change | 9.84% |
| 3 Month Change | 16.27% |
| 1 Year Change | 97.24% |
| 3 Year Change | 109.70% |
| 5 Year Change | 113.78% |
| Change since IPO | 123.86% |
Recent News & Updates
Narrative Update • May 27
MSGS: Knicks Franchise Monetization Timing Will Test Elevated P/E Assumptions
Analysts have increased their average price target on Madison Square Garden Sports by roughly $20 to the low $400s, citing refreshed models after fiscal Q3 results, updated FY26 outlook assumptions, and continued focus on the implied discount to the Knicks' franchise value and potential partial monetization. Analyst Commentary Recent Street research on Madison Square Garden Sports has centered on refreshed models following fiscal Q3 results, updated FY26 assumptions, and how the market values the Knicks franchise relative to the stock's implied discount.Seeking Alpha • May 06
Madison Square Garden Sports Group: Ride The Momentum
Summary Madison Square Garden Sports Group owns the New York Knicks and Rangers, two of the most valuable franchises in their leagues. MSGS benefits from rising sports team valuations, with the Knicks valued at $9.75bn and the Rangers at $4bn. The Knicks have the highest odds in their conference to reach the NBA Finals, positioning MSGS for significant playoff-driven revenue upside. Playoff home games generate $7m in operating profit per game, far surpassing regular season profitability and set to rise with deeper postseason runs. Read the full article on Seeking AlphaRecent updates
Narrative Update • May 27
MSGS: Knicks Franchise Monetization Timing Will Test Elevated P/E Assumptions
Analysts have increased their average price target on Madison Square Garden Sports by roughly $20 to the low $400s, citing refreshed models after fiscal Q3 results, updated FY26 outlook assumptions, and continued focus on the implied discount to the Knicks' franchise value and potential partial monetization. Analyst Commentary Recent Street research on Madison Square Garden Sports has centered on refreshed models following fiscal Q3 results, updated FY26 assumptions, and how the market values the Knicks franchise relative to the stock's implied discount.Seeking Alpha • May 06
Madison Square Garden Sports Group: Ride The Momentum
Summary Madison Square Garden Sports Group owns the New York Knicks and Rangers, two of the most valuable franchises in their leagues. MSGS benefits from rising sports team valuations, with the Knicks valued at $9.75bn and the Rangers at $4bn. The Knicks have the highest odds in their conference to reach the NBA Finals, positioning MSGS for significant playoff-driven revenue upside. Playoff home games generate $7m in operating profit per game, far surpassing regular season profitability and set to rise with deeper postseason runs. Read the full article on Seeking Alpha
Narrative Update • May 03
MSGS: Higher Future P/E Multiple Will Shape Franchise Value Reassessment
The analyst fair value estimate for Madison Square Garden Sports has moved from $314 to $430. This reflects how recent target hikes and mixed rating changes from several firms have led analysts to reassess the stock using a lower discount rate, more conservative revenue growth and profit margin assumptions, and a much higher future P/E multiple.Narrative Update • Apr 18
MSGS: Elevated P/E Will Expose Execution Risk On Revenue Assumptions
Analysts have raised their average price target on Madison Square Garden Sports by a double digit dollar amount, citing updated views on revenue growth, profit margins, and future P/E assumptions reflected in recent target increases from multiple firms. Analyst Commentary Recent research updates on Madison Square Garden Sports show a cluster of higher price targets, with firms citing refreshed assumptions around revenue, profitability, and P/E.
Narrative Update • Apr 04
MSGS: Future Asset Discount Is Expected To Persist As Spin Off Plans Advance
Narrative Update Overview Analysts have lifted the implied fair value estimate for Madison Square Garden Sports from about $311.50 to roughly $348.60. They point to updated assumptions around discount rates, revenue growth, profit margins, and a higher future P/E multiple following recent price target increases from several firms.Narrative Update • Mar 21
MSGS: Premium P/E And Team Spin Off Uncertainty Will Shape Future Risk
Analysts have raised their price targets on Madison Square Garden Sports by as much as $75, citing updated views on revenue growth potential and long-term profitability assumptions that are now reflected in the revised valuation inputs. Analyst Commentary Recent Street research on Madison Square Garden Sports has centered on updated price targets that incorporate revised assumptions for revenue growth, profitability, and execution risks.Narrative Update • Mar 07
MSGS: Premium P/E And Potential Team Spin Off Will Shape Future Risk
Analysts have raised their price targets on Madison Square Garden Sports by between $5 and $75, citing updated assumptions around revenue growth, profitability, and the appropriate P/E multiple for the stock. Analyst Commentary While recent price target revisions for Madison Square Garden Sports skew higher in absolute dollar terms, not every research desk is leaning in with the same level of confidence.Narrative Update • Feb 21
MSGS: Elevated P/E Assumptions Will Likely Sustain Premium And Downside Risk
The analyst price target for Madison Square Garden Sports has shifted from $220 to $295. Analysts attribute this change to updated assumptions on discount rates, revenue growth, margins, and a higher future P/E multiple.Narrative Update • Feb 07
MSGS: Future Asset Discount Is Expected To Persist As Buyout Program Progresses
Narrative Update The analyst price target for Madison Square Garden Sports has shifted from US$280.50 to US$311.50, with analysts pointing to updated assumptions for discount rate, revenue growth, profit margin and future P/E, as well as recent target increases from several firms, as the main drivers of this change. Analyst Commentary Recent Street research on Madison Square Garden Sports has centered on updated price targets and refreshed assumptions for discount rate, revenue growth, profit margins and future P/E, with several firms adjusting their targets by meaningful dollar amounts.Narrative Update • Jan 23
MSGS: Future 60% Asset Discount Is Expected To Remain Despite Mixed Signals
Analysts have nudged their fair value estimate for Madison Square Garden Sports higher from about $265 to roughly $280, citing updated private market value work on the Knicks and Rangers, recent price target moves on the stock, and an assumed richer future P/E multiple as key supports for the new target. Analyst Commentary Recent research on Madison Square Garden Sports highlights both enthusiasm about asset value and caution around near-term execution.Narrative Update • Jan 09
MSGS: Discount To Private Market Value Will Likely Persist Despite Recent Miss
Narrative Update: Madison Square Garden Sports Analyst Pricing Shift Analysts have trimmed their price target on Madison Square Garden Sports to $268 from $270, citing what they view as a sizable discount to private market value for the Knicks and Rangers, supported by recent sales of peer franchises and a modest offseason shortfall tied to lower league distributions. Analyst Commentary Recent commentary around Madison Square Garden Sports has centered on how the market is pricing the Knicks and Rangers relative to what some see as higher private market values.Narrative Update • Dec 25
MSGS: Future 60% Asset Discount Is Expected To Persist Near Term
Analysts have nudged their average price target on Madison Square Garden Sports slightly higher to approximately $265.33 from $264.50, citing resilient profit margin expectations and still-attractive private market value comparisons for the Knicks and Rangers, despite modest concerns around governance, liquidity, and near term catalysts. Analyst Commentary Recent Street research presents a mixed but generally constructive view on Madison Square Garden Sports, with bullish analysts emphasizing the disconnect between trading levels and underlying asset value, while more cautious voices highlight structural and governance related constraints on the equity story.Narrative Update • Dec 11
MSGS: Future 60% Discount To Private Market Value Will Narrow
Analysts have modestly reduced their price target on Madison Square Garden Sports to about $268, down roughly $2, citing a still sizable discount to the estimated private market value for the Knicks and Rangers, along with concerns about governance and the visibility of potential catalysts. Analyst Commentary Street views on Madison Square Garden Sports remain mixed, with valuation support from private market benchmarks offset by governance and liquidity concerns.Narrative Update • Nov 27
MSGS: Future Team Sales Will Unlock Value Amid Discounted Share Price
The consensus analyst price target for Madison Square Garden Sports was revised slightly lower, decreasing by $0.50 to $264.50 per share. Analysts cited recent comparable team sales, a modest earnings shortfall, and ownership structure as key factors informing their updated outlook.Narrative Update • Nov 07
MSGS: Future Franchise Transactions Will Unlock Shareholder Value
Madison Square Garden Sports saw its analyst price target rise slightly by $1.33 to $265.00. Analysts cite improved projected revenue growth, although this is somewhat offset by cautious sentiment around recent valuation trends and profitability expectations.Narrative Update • Oct 24
Media Rights And Franchise Deals Will Drive Upside In Coming Years
Analysts have modestly raised their price target for Madison Square Garden Sports. Recent coverage highlights balanced cash generation and undervaluation compared to peers, resulting in an updated fair value estimate of $263.67 per share.Narrative Update • Oct 09
NBA Media Rights And International Deals Will Expand Reach
Analysts have modestly increased their fair value price target for Madison Square Garden Sports from $261.50 to $263.67 per share, citing recent coverage and a mix of both potential catalysts as well as ongoing ownership complexities as key factors influencing the adjustment. Analyst Commentary Recent street research on Madison Square Garden Sports presents a mix of optimism and caution, reflecting both the growth opportunities and ongoing challenges for the company.Analysis Article • Jun 24
Risks To Shareholder Returns Are Elevated At These Prices For Madison Square Garden Sports Corp. (NYSE:MSGS)
Madison Square Garden Sports Corp.'s ( NYSE:MSGS ) price-to-sales (or "P/S") ratio of 4.7x may look like a poor...Seeking Alpha • Jan 01
Madison Square Garden Sports: Little Room For Growth Beyond Current Sports Fans
Summary Madison Square Garden Sports spun off from the main Madison Square Garden Company and is affiliated with the iconic arena. The company owns top basketball and ice hockey teams, benefiting from high attendance rates. MSGS's balance sheet is healthy, but cash flow growth is muted post-split. The company's valuation does not offer a significant margin of safety, and the stock is trading near a technical resistance. Read the full article on Seeking Alpha
New Narrative • Aug 30
Critical Fan Engagement And Media Deals Set To Propel Sports Giant's Growth
Expansion and renovation efforts, along with strategic pricing for season tickets, aim to enhance fan experience and loyalty while boosting revenue.Seeking Alpha • Jun 19
Madison Square Garden Sports: A Fine Balancing Act For More Growth
Summary Madison Square Garden Sports owns several sports franchises, including the New York Knicks and New York Rangers. The company's revenue has recovered to pre-pandemic levels, but earnings and net income are declining. MSGS's total equity is in the red, and its valuation is high if only compared to its peers and its entertainment unit spin-off, MSGE. Read the full article on Seeking AlphaSeeking Alpha • May 30
Madison Square Garden Sports: Highly Susceptible To Multiple Contraction
Summary Madison Square Garden Sports has inefficient capital turnover and low operating margins, resulting in little to no earnings relative to capital invested in the business. The company is not well-positioned to benefit from the high growth projected in the movies and entertainment market, in my view. The company's valuation is exorbitant, with high multiples of earnings and net assets, making it difficult to justify its current stock price. Read the full article on Seeking AlphaSeeking Alpha • Nov 15
Madison Square Garden Sports: Quarterly Double-Digit Net Sales Growth, And Not Expensive
Summary Madison Square Garden Sports Corp. owns a strong portfolio of sports assets and intangibles, including the New York Knicks and New York Rangers. The company reported significant quarterly net sales growth and operates in a market expected to grow at a CAGR of 21.26% from 2021 to 2028. While there are risks from competition and debt levels, the company's assets and sponsorship agreements mitigate some of these concerns. Read the full article on Seeking AlphaSeeking Alpha • Aug 15
Madison Square Garden Sports For The Win
Summary Madison Square Garden Sports owns the New York Knicks, New York Rangers, 2 minor league teams, a 114,000-foot complex, and eSports assets. Sports franchises have been lucrative investments, with teams often selling for much higher than their estimated value. The assets could be selling for 50%+ of intrinsic value. Read the full article on Seeking AlphaSeeking Alpha • Feb 06
Madison Square Garden FQ2 2023 Earnings Preview
Madison Square Garden (NYSE:MSGS) is scheduled to announce FQ2 earnings results on Tuesday, February 7th, before market open. The consensus EPS Estimate is $1.32 (+103.1% Y/Y) and the consensus Revenue Estimate is $314.07M (+8.5% Y/Y). Over the last 1 year, MSGS has beaten EPS estimates 50% of the time and has beaten revenue estimates 75% of the time.Seeking Alpha • Dec 30
Madison Square Garden Sports: Recent Comparable Transaction Supports Bull Case
Summary MSGS provides an opportunity to own two of the most valuable trophy assets (NY Knicks and NY Rangers) in the world. Using a sum-of-the-parts analysis, we estimate the fair value of MSGS at $334, indicating ~80% upside. The recent announced sale of the Phoenix Suns indicates this valuation may be too conservative. For long-term value investors, we view this discrepancy as an attractive opportunity to take advantage of the Street’s short-sighted nature. Thesis Snapshot The recently announced sale of the Phoenix Suns for approximately $4.0 billion is a significant positive for Madison Square Garden Sports Corp. (NYSE:MSGS), owner of the NY Knicks and NY Rangers. According to Forbes, the Knicks are one of the most valuable NBA teams, worth $6.1 billion in enterprise value. Similarly, the Rangers are the NHL’s prized franchise with a value of $2.2 billion. In total, based on the Forbes methodology, the two teams are worth $8.3 billion or approximately $334 per share (after accounting for estimated net debt) versus the MSGS trading price of $181. However, the Suns' transaction may indicate that the Forbes' valuation approach is too conservative. In October 2022, the firm estimated the Phoenix franchise was worth $2.7 billion, only two-thirds of the reported transaction value, less than 90 days later. Background In April 2020, The Madison Square Garden Company (MSG) spun-off its entertainment businesses from its portfolio of sports assets. Upon completion of the transaction, MSG became a pure-play sports company and changed its name to Madison Square Garden Sports Corp. The newly formed entertainment company is appropriately called Madison Square Garden Entertainment Corp. (MSGE). MSGS is home to a collection of the most valuable franchises in professional sports, including the New York Knicks and the New York Rangers. Other MSGS assets include two development league teams – the Westchester Knicks, which serve as the exclusive G-League affiliate of the Knicks, and the Hartford Wolf Pack, the player development team for the Rangers playing in the American Hockey League. In addition, the Company has an established presence in the emerging world of e-sports through Counter Logic Gaming (CLG), a North American e-sports organization, and Knicks Gaming, an NBA 2K League franchise. Finally, MSGS operates two performance centers. The Madison Square Garden Training Center in Greenburgh, NY, is a 16-acre facility that offers the Knicks, Rangers, and Westchester Knicks a specialized training environment, with dedicated equipment for each team. The CLG Performance Center in Los Angeles, CA, includes unique competition spaces tailored to the Company’s e-sports game franchises, as well as a studio and editing bay for video productions and outdoor areas that can be used to hold fan events. Recent Updates In October, Forbes increased its appraisal of the Knicks from $5.8 billion to $6.1 billion. Likewise, in December, Forbes raised its fair value estimate of the Rangers from $2.0 billion to $2.2 billion. In total, the revised enterprise value of the two New York teams is $8.3 billion. After accounting for net debt, the consolidated equity value is $8.1 billion, or $334 per share. As it relates to the appraisals of professional sports teams, historically, Forbes’ estimates carried credibility. For example, in September 2020, the New York Mets sold for $2.42 billion, within 1% of the $2.4 billion valuation Forbes placed on the franchise. However, recent NBA transactions indicate the Forbes' approach may be too conservative. For example, in October 2022, the firm estimated the Phoenix franchise was worth $2.7 billion. Less than 90 days later, in December, the Suns sold for a reported $4 billion. The Valuation Gap Based on the Forbes methodology, the two teams are worth $8.3 billion or approximately $334 per share versus the recent MSGS trading price of $181. And with the most recent comparable transaction, the $334 may be understating the true value of MSGS. The stock suffers from the "Dolan discount," a reference to the Dolan family, the company's controlling shareholder, and its much maligned leader James Dolan. Mr. Dolan has a mixed corporate track record, including a history of hits and misses related to mergers, acquisitions, and divestitures across his business empire. Further, his unwillingness to sell the New York franchises highlights the material gap between the value of control versus minority ownership. From our perspective, there are three scenarios that would close the valuation gap. Sell the teams (least likely). An announcement that the Dolan family is considering a transaction or two to divest both teams is the holy grail and best opportunity for shareholders to realize fair value. Unfortunately, Mr. Dolan has stated on numerous occasions the teams are not for sale. Partner with a minority owner. Allowing a minority investor into one or both of the teams would create a very attractive price discovery exercise, as well as, provide substantial proceeds to MSGS which could be utilized to buyback a meaningful number of shares and/or pay a dividend. Buyback shares with free cash flow (most likely). In 2022, MSGS has focused on paying down debt with free cash flow. Going forward, a pivot towards a material share repurchasing program would reward shareholders (acquiring stock well below fair value). Valuation and Risks MSGS provides an opportunity to own a stake in two of the most valuable trophy assets in the world.Shareholder Returns
| MSGS | US Entertainment | US Market | |
|---|---|---|---|
| 7D | 5.8% | -1.4% | 1.6% |
| 1Y | 97.2% | -13.6% | 28.2% |
Return vs Industry: MSGS exceeded the US Entertainment industry which returned -13.6% over the past year.
Return vs Market: MSGS exceeded the US Market which returned 28.2% over the past year.
Price Volatility
| MSGS volatility | |
|---|---|
| MSGS Average Weekly Movement | 3.3% |
| Entertainment Industry Average Movement | 9.0% |
| Market Average Movement | 7.2% |
| 10% most volatile stocks in US Market | 16.8% |
| 10% least volatile stocks in US Market | 3.0% |
Stable Share Price: MSGS has not had significant price volatility in the past 3 months compared to the US market.
Volatility Over Time: MSGS's weekly volatility (3%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 2015 | 761 | Jim Dolan | www.msgsports.com |
Madison Square Garden Sports Corp. operates as a professional sports company in the United States. The company owns and operates a portfolio of assets that consists of the New York Knickerbockers of the National Basketball Association (NBA) and the New York Rangers of the National Hockey League. Its other professional franchises include development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.
Madison Square Garden Sports Corp. Fundamentals Summary
| MSGS fundamental statistics | |
|---|---|
| Market cap | US$9.01b |
| Earnings (TTM) | -US$22.34m |
| Revenue (TTM) | US$1.08b |
8.4x
P/S Ratio-403.3x
P/E RatioIs MSGS overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| MSGS income statement (TTM) | |
|---|---|
| Revenue | US$1.08b |
| Cost of Revenue | US$761.37m |
| Gross Profit | US$317.66m |
| Other Expenses | US$340.01m |
| Earnings | -US$22.34m |
Last Reported Earnings
Mar 31, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | -0.93 |
| Gross Margin | 29.44% |
| Net Profit Margin | -2.07% |
| Debt/Equity Ratio | -87.5% |
How did MSGS perform over the long term?
See historical performance and comparisonCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/01 07:41 |
| End of Day Share Price | 2026/05/29 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/06/30 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
|
|
| Market Prices | 30 years |
| |
| Ownership | 10 years |
| |
| Management | 10 years |
| |
| Key Developments | 10 years |
|
* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Madison Square Garden Sports Corp. is covered by 23 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| David Joyce | Barclays |
| David Beckel | Berenberg |
| Bryan Goldberg | BofA Global Research |