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Madison Square Garden

DB:MS8
Snowflake Description

Adequate balance sheet with concerning outlook.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MS8
DB
$7B
Market Cap
  1. Home
  2. DE
  3. Media
Company description

The Madison Square Garden Company, together with its subsidiaries, engages in live sports and entertainment businesses in the United States. The last earnings update was 77 days ago. More info.


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MS8 Share Price and Events
7 Day Returns
0.1%
DB:MS8
0.9%
DE Entertainment
2.4%
DE Market
1 Year Returns
35.8%
DB:MS8
11.6%
DE Entertainment
-6.2%
DE Market
MS8 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Madison Square Garden (MS8) 0.1% 4.4% 13.5% 35.8% 94.5% -
DE Entertainment 0.9% 7.3% 13.9% 11.6% 33.9% 72.6%
DE Market 2.4% 3% 7.4% -6.2% 9.6% 14.1%
1 Year Return vs Industry and Market
  • MS8 outperformed the Entertainment industry which returned 11.6% over the past year.
  • MS8 outperformed the Market in Germany which returned -6.2% over the past year.
Price Volatility
MS8
Industry
5yr Volatility vs Market

MS8 Value

 Is Madison Square Garden undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Madison Square Garden to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Madison Square Garden.

DB:MS8 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.1%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:MS8
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Entertainment Unlevered Beta Simply Wall St/ S&P Global 0.96
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.959 (1 + (1- 21%) (1.4%))
0.98
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.98
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.98 * 5.96%)
6.07%

Discounted Cash Flow Calculation for DB:MS8 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Madison Square Garden is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:MS8 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 6.07%)
2019 32.67 Analyst x2 30.80
2020 126.23 Analyst x2 112.20
2021 156.00 Analyst x1 130.73
2022 167.00 Analyst x1 131.94
2023 178.00 Analyst x1 132.59
2024 186.07 Est @ 4.54% 130.68
2025 192.11 Est @ 3.24% 127.20
2026 196.60 Est @ 2.34% 122.72
2027 199.95 Est @ 1.71% 117.68
2028 202.48 Est @ 1.26% 112.35
Present value of next 10 years cash flows $1,148.88
DB:MS8 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $202.48 × (1 + 0.23%) ÷ (6.07% – 0.23%)
$3,475.37
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $3,475.37 ÷ (1 + 6.07%)10
$1,928.35
DB:MS8 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,148.88 + $1,928.35
$3,077.24
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $3,077.24 / 23.76
$129.52
DB:MS8 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:MS8 represents 0.87411x of NYSE:MSG
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.87411x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 129.52 x 0.87411
€113.22
Value per share (EUR) From above. €113.22
Current discount Discount to share price of €269.40
= -1 x (€269.40 - €113.22) / €113.22
-138%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Madison Square Garden is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Madison Square Garden's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Madison Square Garden's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:MS8 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $0.53
NYSE:MSG Share Price ** NYSE (2019-04-18) in USD $308.2
Germany Entertainment Industry PE Ratio Median Figure of 10 Publicly-Listed Entertainment Companies 17.11x
Germany Market PE Ratio Median Figure of 422 Publicly-Listed Companies 19.67x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Madison Square Garden.

DB:MS8 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:MSG Share Price ÷ EPS (both in USD)

= 308.2 ÷ 0.53

585.84x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Madison Square Garden is overvalued based on earnings compared to the DE Entertainment industry average.
  • Madison Square Garden is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Madison Square Garden's expected growth come at a high price?
Raw Data
DB:MS8 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 585.84x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
-12.9%per year
Europe Entertainment Industry PEG Ratio Median Figure of 30 Publicly-Listed Entertainment Companies 1.73x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.58x

*Line of best fit is calculated by linear regression .

DB:MS8 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 585.84x ÷ -12.9%

-45.56x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Madison Square Garden earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Madison Square Garden's assets?
Raw Data
DB:MS8 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $110.63
NYSE:MSG Share Price * NYSE (2019-04-18) in USD $308.2
Germany Entertainment Industry PB Ratio Median Figure of 14 Publicly-Listed Entertainment Companies 1.56x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.85x
DB:MS8 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:MSG Share Price ÷ Book Value per Share (both in USD)

= 308.2 ÷ 110.63

2.79x

* Primary Listing of Madison Square Garden.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Madison Square Garden is overvalued based on assets compared to the DE Entertainment industry average.
X
Value checks
We assess Madison Square Garden's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Entertainment industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Entertainment industry average (and greater than 0)? (1 check)
  5. Madison Square Garden has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

MS8 Future Performance

 How is Madison Square Garden expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-12.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Madison Square Garden expected to grow at an attractive rate?
  • Madison Square Garden's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Madison Square Garden's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • Madison Square Garden's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:MS8 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:MS8 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts -12.9%
DB:MS8 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 6.5%
Germany Entertainment Industry Earnings Growth Rate Market Cap Weighted Average 22.8%
Germany Entertainment Industry Revenue Growth Rate Market Cap Weighted Average 3.5%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.5%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:MS8 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:MS8 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-06-30 2,131 303 2
2022-06-30 1,996 283 2
2021-06-30 1,886 264 4
2020-06-30 1,720 243 9 6
2019-06-30 1,653 130 5 5
DB:MS8 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 1,628 197 12
2018-09-30 1,532 208 120
2018-06-30 1,559 221 142
2018-03-31 1,547 270 103
2017-12-31 1,473 159 77
2017-09-30 1,382 206 -55
2017-06-30 1,318 217 -73
2017-03-31 1,231 147 -47
2016-12-31 1,181 121 -90
2016-09-30 1,147 106 -104
2016-06-30 1,115 126 -77
2016-03-31 1,153 133 -20

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Madison Square Garden's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Madison Square Garden's revenue is expected to grow by 6.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:MS8 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from Madison Square Garden Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:MS8 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-06-30
2022-06-30
2021-06-30
2020-06-30 0.40 0.40 0.40 1.00
2019-06-30 -0.53 -0.53 -0.53 1.00
DB:MS8 Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 0.53
2018-09-30 5.09
2018-06-30 5.99
2018-03-31 4.38
2017-12-31 3.24
2017-09-30 -2.33
2017-06-30 -3.05
2017-03-31 -1.95
2016-12-31 -3.71
2016-09-30 -4.25
2016-06-30 -3.12
2016-03-31 -0.80

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Madison Square Garden is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Madison Square Garden's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Madison Square Garden has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

MS8 Past Performance

  How has Madison Square Garden performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Madison Square Garden's growth in the last year to its industry (Entertainment).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Madison Square Garden has delivered over 20% year on year earnings growth in the past 5 years.
  • Madison Square Garden's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Madison Square Garden's 1-year earnings growth is negative, it can't be compared to the DE Entertainment industry average.
Earnings and Revenue History
Madison Square Garden's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Madison Square Garden Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:MS8 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 1,627.90 12.48 498.31
2018-09-30 1,532.02 120.49 482.01
2018-06-30 1,559.10 141.59 472.31
2018-03-31 1,546.71 103.37 489.23
2017-12-31 1,473.12 76.68 467.16
2017-09-30 1,381.97 -55.20 439.71
2017-06-30 1,318.45 -72.72 410.04
2017-03-31 1,230.64 -46.86 361.09
2016-12-31 1,180.94 -90.08 353.35
2016-09-30 1,146.63 -104.31 345.36
2016-06-30 1,115.31 -77.29 326.70
2016-03-31 1,152.51 -19.99 307.11
2015-12-31 1,117.04 29.30 268.55
2015-09-30 1,103.02 -4.56 245.29
2015-06-30 1,071.55 -40.68 238.32
2015-03-31 1,030.03 -96.02 236.07
2014-12-31 1,015.82 -131.12 240.92
2014-09-30 825.77 -147.71 225.21
2014-06-30 913.62 -116.93 221.11
2013-06-30 722.94 -58.27 176.14
2012-06-30 728.87 -36.28 171.76

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Madison Square Garden has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • Madison Square Garden used its assets less efficiently than the DE Entertainment industry average last year based on Return on Assets.
  • It is difficult to establish if Madison Square Garden improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Madison Square Garden's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Entertainment industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Madison Square Garden has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

MS8 Health

 How is Madison Square Garden's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Madison Square Garden's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Madison Square Garden is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Madison Square Garden's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Madison Square Garden's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 14.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Madison Square Garden Company Filings, last reported 3 months ago.

DB:MS8 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 2,720.16 102.85 1,227.86
2018-09-30 2,625.67 103.10 1,068.88
2018-06-30 2,630.72 105.70 1,225.64
2018-03-31 2,684.78 106.15 1,176.55
2017-12-31 2,679.50 105.90 1,125.65
2017-09-30 2,495.07 105.68 1,163.95
2017-06-30 2,500.49 105.43 1,238.11
2017-03-31 2,585.91 105.29 1,140.90
2016-12-31 2,578.03 0.00 1,410.35
2016-09-30 2,502.00 0.00 1,294.08
2016-06-30 2,586.42 0.00 1,444.32
2016-03-31 2,673.33 0.00 1,451.69
2015-12-31 2,788.45 0.00 1,558.90
2015-09-30 2,753.23 0.00 1,467.09
2015-06-30 1,223.28 0.00 14.21
2015-03-31 1,259.57 0.00 14.14
2014-12-31 1,219.06 0.00 18.06
2014-09-30 1,191.20 0.00 6.14
2014-06-30 1,191.20 0.00 6.14
2013-06-30 916.76 0.00 2.28
2012-06-30
  • Madison Square Garden's level of debt (3.8%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 3.8% today).
  • Debt is well covered by operating cash flow (191.1%, greater than 20% of total debt).
  • Unable to confirm if the interest payments on Madison Square Garden's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Madison Square Garden's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Madison Square Garden has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

MS8 Dividends

 What is Madison Square Garden's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Madison Square Garden dividends. Estimated to be 0% next year.
If you bought €2,000 of Madison Square Garden shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Madison Square Garden's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Madison Square Garden's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:MS8 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
Germany Entertainment Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 1.5%
Germany Market Average Dividend Yield Market Cap Weighted Average of 325 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:MS8 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-06-30
2022-06-30
2021-06-30 0.00 2.00
2020-06-30 0.00 3.00
2019-06-30 0.00 3.00

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Madison Square Garden has not reported any payouts.
  • Unable to verify if Madison Square Garden's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Madison Square Garden's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Madison Square Garden has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Madison Square Garden's dividends in 3 years as they are not expected to pay a notable one for Germany.
X
Income/ dividend checks
We assess Madison Square Garden's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Madison Square Garden afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Madison Square Garden has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

MS8 Management

 What is the CEO of Madison Square Garden's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jim Dolan
COMPENSATION $11,591,240
AGE 63
TENURE AS CEO 1.4 years
CEO Bio

Mr. James L. Dolan, also known as Jim, has been the Chief Executive Officer of Madison Square Garden Company since March 2018 and also serves as its Executive Chairman since March 4, 2015. Mr. Dolan serves as the Chairman, Chief Executive Officer and President of New York Knicks, Inc. He has experience in various positions with MSG Networks Inc. and its predecessors since 1999 and MSG since the MSG Distribution. Mr. Dolan had been the Chief Executive Officer of CSC Holdings, LLC since October 1995 and Cablevision Systems Corporation since October 1995 until 2016. He oversaw telecommunications and entertainment businesses, including CSC and cabletelevision offerings, high-speed broadband Internet access, national television program networks and Clearview Cinemas. He oversees the management of the many Garden entities, which include the Garden facilities, its professional teams - the Knicks, Rangers and Liberty - the MSG Network and Radio City Music Hall. He served as an Interim Chief Executive Officer at Madison Square Garden Company from November 13, 2017 to March 2018. He served as the President of CSC Holdings, LLC and Cablevision Systems Corporation from June 1998 to April 7, 2014. Mr. Dolan amassed more than two decades of experience in the management of cable systems, telecommunications programming and advertising. He served as the Vice President of Cablevision Systems Corp. from 1987 to September 1992. He served as Chief Executive Officer of Rainbow Programming Holdings, Inc. (now Rainbow Media Holdings, Inc.) from 1992 to 1995 and was involved in the development of its niche programming networks from September 1992 to October 1995. At Rainbow, he oversaw all facets of the business, which today operates multiple entertainment, news and sports networks, reaching millions of households in the United States and abroad. He served as Vice President of CSC Holdings from 1987 to September 1992. Mr. Dolan began his career with Cablevision in the 1970s in the Plainview, New York cable system. Throughout the 1980's, he managed its radio properties and its pioneering cable advertising sales organization before moving on to Rainbow Programming. He has been the Executive Chairman of MSG Networks Inc. since July 29, 2009. He has been the Chairman of Madison Square Garden, L.P. since 1991. He was Chairman of MSG Holdings, L.P. from 1999 to 2010. He served as the Chairman of Cablevision Systems Corporation since October 2003. He has been Director of CSC Holdings, LLC. He has been a Director of National Cable Satellite Corporation since 2012, CSC Holdings Inc., since 1991 and AMC Networks Inc. since March 9, 2011. He serves as a Director of the Lustgarten Foundation for Pancreatic Cancer Research, an organization he helped found in 1998. He served as a Director of Cable Television Laboratories, Inc. He was a Director at Cablevision Systems Corporation since 1991 until 2016. Mr. Dolan created and managed WKNR-AM, leveland's first all-sports talk radio station. He served as a Member of the board of Live Nation Entertainment, Inc. since June 30, 2011 until February 22, 2013. He is a member of television station WNET's board of trustees and sits on the board of the National Cable Television Association (NCTA). An ardent fan of the three MSG teams, he is a frequent presence at their home games. Among his most significant accomplishments, he spearheaded a multi-million dollar effort to restore Radio City Music Hall. Mr. Dolan is honorary chair of Cable Positive's board of directors.

CEO Compensation
  • Jim's compensation has been consistent with company performance over the past year.
  • Jim's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Madison Square Garden management team in years:

1.4
Average Tenure
49
Average Age
  • The average tenure for the Madison Square Garden management team is less than 2 years, this suggests a new team.
Management Team

Jim Dolan

TITLE
Executive Chairman & CEO
COMPENSATION
$12M
AGE
63
TENURE
1.4 yrs

Andy Lustgarten

TITLE
President
COMPENSATION
$9M
AGE
40
TENURE
1.3 yrs

Joseph Yospe

TITLE
Senior VP
COMPENSATION
$1M
AGE
60
TENURE
3.8 yrs

Lawrence Burian

TITLE
Executive VP & General Counsel
COMPENSATION
$3M
AGE
48
TENURE
3.8 yrs

Victoria Mink

TITLE
Executive VP & CFO
AGE
49
TENURE
0.3 yrs

Sandra Kapell

TITLE
Chief Administrative Officer & Executive VP
TENURE
3.3 yrs

Ari Danes

TITLE
Senior Vice President

Richard Constable

TITLE
Chief Strategist
TENURE
0.7 yrs

Geraldine Calpin

TITLE
Executive VP & Chief Marketing Officer
TENURE
0.3 yrs

Justin Johnson

TITLE
Senior Vice President
TENURE
6.8 yrs
Board of Directors Tenure

Average tenure and age of the Madison Square Garden board of directors in years:

3.6
Average Tenure
67
Average Age
  • The tenure for the Madison Square Garden board of directors is about average.
Board of Directors

Jim Dolan

TITLE
Executive Chairman & CEO
COMPENSATION
$12M
AGE
63
TENURE
4.1 yrs

Scott Sperling

TITLE
Director
COMPENSATION
$175K
AGE
60
TENURE
3.6 yrs

Vincent Tese

TITLE
Independent Director
COMPENSATION
$186K
AGE
75
TENURE
3.6 yrs

Dick Parsons

TITLE
Director
COMPENSATION
$171K
AGE
70
TENURE
3.6 yrs

Nelson Peltz

TITLE
Director
COMPENSATION
$166K
AGE
75
TENURE
3.6 yrs

Charles Dolan

TITLE
Director
COMPENSATION
$163K
AGE
31
TENURE
3.6 yrs

Kristin Dolan

TITLE
Director
COMPENSATION
$164K
AGE
52
TENURE
3.6 yrs

Alan Schwartz

TITLE
Director
COMPENSATION
$173K
AGE
68
TENURE
3.6 yrs

Chuck Dolan

TITLE
Director
COMPENSATION
$163K
AGE
92
TENURE
3.6 yrs

Thomas Dolan

TITLE
Director
COMPENSATION
$160K
AGE
66
TENURE
3.6 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
26. Dec 18 Buy Silver Lake Company 14. Dec 18 19. Dec 18 19,400 €228.32 €4,422,624
10. Dec 18 Buy Silver Lake Company 06. Dec 18 07. Dec 18 17,056 €236.63 €4,033,288
X
Management checks
We assess Madison Square Garden's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Madison Square Garden has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

MS8 News

Simply Wall St News

MS8 Company Info

Description

The Madison Square Garden Company, together with its subsidiaries, engages in live sports and entertainment businesses in the United States. The company operates in two segments, MSG Sports and MSG Entertainment. The MSG Sports segment owns and operates professional sports franchises; and promotes, produces, and/or presents an array of other live sporting events, including professional boxing, college basketball, college hockey, professional bull riding, mixed martial arts, esports, tennis, and college wrestling. The MSG Entertainment segment presents or hosts live entertainment events, such as concerts, family shows, performing arts, and special events; and creates, produces, and/or presents live productions in its venues. It also operates 25 entertainment dining and nightlife venues in New York City, Las Vegas, and Los Angeles; Singapore; and Sydney, Australia primarily under the TAO, Marquee, Lavo, Avenue, The Stanton Social, Beauty & Essex, and Vandal brands, as well as manages the food and beverage operations at the Dream Downtown and Dream Midtown hotels in New York City. The Madison Square Garden Company was founded in 1879 and is based in New York, New York.

Details
Name: The Madison Square Garden Company
MS8
Exchange: DB
Founded: 1879
$6,511,053,878
23,758,510
Website: http://www.themadisonsquaregardencompany.com
Address: The Madison Square Garden Company
Two Pennsylvania Plaza,
New York,
New York, 10121,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE MSG Class A Common Stock New York Stock Exchange US USD 18. Sep 2015
DB MS8 Class A Common Stock Deutsche Boerse AG DE EUR 18. Sep 2015
Number of employees
Current staff
Staff numbers
7,300
Madison Square Garden employees.
Industry
Movies and Entertainment
Media
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/19 22:03
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/14
Last earnings filing: 2019/02/01
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/06/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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 here.