olivLaw · US equity research
Madison Square Garden Entertainment Corp. MSGE
Services-Miscellaneous Amusement & Recreation · SIC 7990 · Vertical: Services-Miscellaneous Amusement & Recreation (SIC 7990)
Madison Square Garden Entertainment Corp. (MSGE) is a live entertainment company operating iconic venues in New York and Chicago, along with the Christmas Spectacular production and a bookings business for concerts and sporting events. For fiscal 2026, revenues reached 1,060.8 million USD, and the company says demand for its live offerings remained strong.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Madison Square Garden Entertainment Corp. (MSGE) stock was 78.73 USD (−0.97% on the day), with P/E 38.7 on diluted EPS of 2.03 USD over the last 12 months, beta 0.87, 52-week range 44.27–88.42 USD. Latest reported quarter (Q1 2027): revenue of 217.1 m USD (+37.2% YoY), net income of 8.9 m USD, diluted EPS 0.19 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 47.6
- neutral
- Bollinger (20, 2)
- 76.82 – 81.92
- in the lower half of the band · %B 0.37 · band width 6.4%
- SMA 50 / 200
- 79.18 / 70.80
- mixed trend
- MACD (12, 26, 9)
- -0.07 / -0.09
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −1.6% | −1.1% | −0.5 pp | — |
| 3 months | +1.2% | −0.5% | +1.6 pp | — |
| 6 months | +17.6% | +4.4% | +13.2 pp | — |
| Year to date | +46.1% | +12.3% | +33.8 pp | — |
| 1 year | +79.6% | +13.5% | +66.0 pp | −31.8% |
| 3 years | +150.2% | +76.4% | +73.8 pp | −25.9% |
| 5 years | unavailable | +63.7% | unavailable | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q1 2027 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 | Q1 '27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 407.4 m | 242.5 m | 154.1 m | 158.3 m | 459.9 m | 246.3 m | 196.3 m | 217.1 m |
| SG&A | 57.2 m | 52.1 m | 59.9 m | 56.6 m | 68.4 m | 61.0 m | 67.2 m | 66.9 m |
| Operating income | 139.0 m | 27.3 m | -25.8 m | -29.7 m | 163.8 m | 16.1 m | -8.6 m | 9.7 m |
| Depreciation & amortisation | 14.2 m | 14.4 m | 15.4 m | 14.1 m | 14.0 m | 13.8 m | 14.2 m | 13.8 m |
| Interest expense | 13.0 m | 11.8 m | 11.7 m | 11.0 m | 10.4 m | 9.4 m | 9.1 m | 9.1 m |
| Pre-tax income | — | — | — | -40.4 m | — | — | — | 2.3 m |
| Income tax | 49.5 m | 7.3 m | -15.0 m | -18.8 m | 60.8 m | 3.1 m | -4.4 m | -6.6 m |
| Net income | 75.9 m | 8.0 m | -27.2 m | -21.7 m | 92.7 m | 5.1 m | -10.0 m | 8.9 m |
| Diluted EPS | 1.56 | 0.17 | -0.57 ≈ | -0.46 | 1.94 | 0.11 | -0.21 ≈ | 0.19 |
| Operating cash flow | 112.9 m ≈ | 56.8 m ≈ | -27.0 m | 19.8 m | 164.4 m ≈ | 183.9 m ≈ | -16.6 m | -26.2 m |
| Share repurchases | 25.0 m ≈ | 14.7 m ≈ | 0 | 25.0 m | 0 ≈ | 0 ≈ | 0 | 25.0 m |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 50 percentile of its own 14-quarter history (min 11.2, median 35.9, max 64.3; quarters with earnings only).
Fiscal years
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Revenue | 81.8 m | 653.5 m | 851.5 m | 959.3 m | 942.7 m | 1.1 bn |
| Revenue YoY | unavailable | +698.8% | +30.3% | +12.7% | −1.7% | +12.5% |
| Net income | -218.6 m | -133.3 m | 76.6 m | 144.3 m | 37.4 m | 66.2 m |
| Net income YoY | unavailable | unavailable | unavailable | +88.4% | −74.1% | +76.8% |
| Diluted EPS | -4.22 | -2.58 | 1.47 | 2.97 | 0.77 | 1.38 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | +102.0% | −74.1% | +79.2% |
| net % | -267.2% | -20.4% | 9.0% | 15.0% | 4.0% | 6.2% |
| Free cash flow | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2026 · 30 Jun 2026
- Cash
- 293.6 m USD
- Financial debt
- 570.8 m USD
- Net debt
- 277.2 m USD
- Equity
- 45.8 m USD
- Total assets
- 1.9 bn USD
- Debt / equity
- 12.47x
- Current ratio
- 0.70x
- ROE
- unavailable
- ROA
- 3.7%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 81.8 m | 653.5 m | 851.5 m | 959.3 m | 942.7 m | 1.1 bn | SEC (XBRL)· 12 Aug 2026verified |
| SG&A | 136.6 m | 167.1 m | 180.2 m | 207.0 m | 215.0 m | 253.1 m | SEC (XBRL)· 12 Aug 2026verified |
| Operating income | -237.3 m | -5.6 m | 105.0 m | 111.9 m | 122.1 m | 141.5 m | SEC (XBRL)· 12 Aug 2026verified |
| Depreciation & amortisation | 71.6 m | 69.5 m | 60.5 m | 53.9 m | 57.8 m | 56.1 m | SEC (XBRL)· 12 Aug 2026verified |
| EBITDA | -165.7 m ≈ | 63.9 m ≈ | 165.5 m ≈ | 165.8 m ≈ | 179.9 m ≈ | 197.6 m ≈ | SEC (XBRL)· 12 Aug 2026derived |
| Interest expense | 33.7 m | 53.1 m | 51.9 m | 58.0 m | 50.5 m | 40.0 m | SEC (XBRL)· 12 Aug 2026verified |
| Pre-tax income | — | — | — | 52.3 m | 65.6 m | 107.0 m | SEC (XBRL)· 12 Aug 2026verified |
| Income tax | 5.3 m | -70.0 k | 1.7 m | -92.0 m | 28.1 m | 40.8 m | SEC (XBRL)· 12 Aug 2026verified |
| Net income | -218.6 m | -133.3 m | 76.6 m | 144.3 m | 37.4 m | 66.2 m | SEC (XBRL)· 12 Aug 2026verified |
| Diluted EPS | -4.22 | -2.58 | 1.47 | 2.97 | 0.77 | 1.38 | SEC (XBRL)· 12 Aug 2026verified |
| Weighted average diluted shares | 51.8 m | 51.8 m | 52.3 m | 48.6 m | 48.3 m | 48.0 m | SEC (XBRL)· 12 Aug 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 318.1 m | 58.1 m | 76.1 m | 33.3 m | 43.0 m | 293.6 m | SEC (XBRL)· 12 Aug 2026verified |
| Receivables | — | 102.5 m | 63.9 m | 77.3 m | 66.8 m | 88.0 m | SEC (XBRL)· 12 Aug 2026verified |
| Inventories | — | 2.8 m | 2.6 m | 3.9 m | 3.8 m | 3.7 m | SEC (XBRL)· 12 Aug 2026verified |
| Current assets | — | 341.5 m | 295.3 m | 219.1 m | 237.1 m | 522.1 m | SEC (XBRL)· 12 Aug 2026verified |
| Property, plant & equipment, net | — | 696.1 m | 628.9 m | 633.5 m | 621.1 m | 591.7 m | SEC (XBRL)· 12 Aug 2026verified |
| Goodwill | — | 69.0 m | 69.0 m | 69.0 m | 69.0 m | 69.0 m | SEC (XBRL)· 12 Aug 2026verified |
| Intangibles (excl. goodwill) | — | 65.4 m | 63.8 m | — | — | — | SEC (XBRL)· 18 Aug 2023verified |
| Total assets | — | 1.5 bn | 1.4 bn | 1.6 bn | 1.7 bn | 1.9 bn | SEC (XBRL)· 12 Aug 2026verified |
| Accounts payable | — | 11.2 m | 15.6 m | 26.6 m | 12.1 m | 27.0 m | SEC (XBRL)· 12 Aug 2026verified |
| Short-term debt | — | 8.8 m | 16.3 m | 16.3 m | 30.5 m | 30.5 m | SEC (XBRL)· 12 Aug 2026verified |
| Long-term debt | — | 654.9 m | 630.2 m | 599.2 m | 568.8 m | 540.3 m | SEC (XBRL)· 12 Aug 2026verified |
| Current liabilities | — | 545.1 m | 540.6 m | 505.8 m | 502.4 m | 748.3 m | SEC (XBRL)· 12 Aug 2026verified |
| Total liabilities | — | 1.5 bn | 1.5 bn | 1.6 bn | 1.7 bn | 1.9 bn | SEC (XBRL)· 12 Aug 2026verified |
| Equity | 498.7 m | -1.6 m | -69.5 m | -23.2 m | -13.3 m | 45.8 m † | SEC (XBRL)· 12 Aug 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -148.1 m | 95.4 m | 135.7 m | 111.3 m | 115.3 m | 351.4 m | SEC (XBRL)· 12 Aug 2026verified |
| Investing cash flow | -10.3 m | 45.4 m | 30.3 m | -62.4 m | -23.7 m | -29.8 m | SEC (XBRL)· 12 Aug 2026verified |
| Financing cash flow | 473.5 m | -396.3 m | -144.2 m | -99.7 m | -81.6 m | -71.0 m | SEC (XBRL)· 12 Aug 2026verified |
| Share repurchases | 0 | 0 | 25.0 m | 50.9 m | 39.7 m | 25.0 m | SEC (XBRL)· 12 Aug 2026verified |
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 59 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: unavailable
Key indicators
Coverage and freshness
Score by group
- Balance sheet65
- Growth32
- Valuation38
- Quality94
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 27.59 – 73.86 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/E27.59 – 73.86 (Mid 49.91)7 companies used · median multiple 24.5x · quartiles 13.6x – 36.3xBRSL, DIS, MTN, PRKS, PRSU, RSI, SEAT
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 59/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 26.0% | 100 (vs peers) | 16% |
| Net margin · Quality | 8.6% | 84 (vs peers) | 10% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 7.6% | 63 (on a fixed band) | 13% |
| EPS CAGR 3Y · Growth | -2.1% | 0 (on a fixed band) | 13% |
| Net debt / EBITDA · Balance sheet | 1.6x | 100 (vs peers) | 16% |
| Interest coverage · Balance sheet | 4.8x | 50 (on a fixed band) | 10% |
| Current ratio · Balance sheet | 0.6x | 0 (on a fixed band) | 6% |
| P/E (TTM) · Valuation | 38.7x | 38 (vs peers) | 16% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet65/100 · 3/3 factors with a value
- Growth32/100 · 2/2 factors with a value
- Quality94/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partial38/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
MADISON SQUARE GARDEN ENTERTAINMENT CORP. (MSGE). Latest full fiscal year: 2026; data up to 2026-09-30.
Figures computed from the financial statements: revenue 1.1 bn USD in 2026; YoY growth 12.5%; net margin 8.6%; net debt/EBITDA 1.6x.
The estimated value range is 27.59–73.86 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 49.91 USD, the price of 78.73 USD leaves a potential of -36.6% (value / price − 1) and a margin of safety of -57.7% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 59/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: returns, valuation. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 26.0%
- Net margin: 8.6%
- Net debt / EBITDA: 1.6x
What contradicts it
- EPS CAGR 3Y: -2.1%
- Current ratio: 0.6x
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): FCF conversion, EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Services-Miscellaneous Amusement & Recreation (SIC 7990) · same industry (4-digit SIC) · compared with 20 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| DISWalt Disney Co | 205.4 bn | 24.5 | 7.8% | 8.7% | +3.4% | +14% / +28% |
| MTNVail Resorts, Inc. | 5.7 bn | 39.1 | 44.4% | 5.2% | −4.3% | +15% / −26% |
| RSIRush Street Interactive, Inc. | 2.5 bn | 40.9 | 23.0% | 2.6% | +22.8% | −33% / +193% |
| BRSLBrightstar Lottery PLC | 1.9 bn | 13.7 | 11.6% | 5.9% | −0.0% | −35% / −62% |
| PRKSUnited Parks & Resorts Inc. | 1.6 bn | 13.5 | — | 8.1% | −3.6% | −5% / −30% |
| PRSUPursuit Attractions and Hospitality, Inc. | 1.5 bn | 33.6 | 7.7% | 9.6% | +23.4% | +65% / +70% |
| NIPGNIP Group Inc. | 471.7 m | — | -15.9% | -14.9% | +1.9% | −91% / unavailable |
| SEGSeaport Entertainment Group Inc. | 301.9 m | — | -22.6% | -91.4% | +18.3% | +10% / unavailable |
| GENIGenius Sports Limited | 70.1 m | — | -17.2% | -16.7% | +31.0% | −30% / +26% |
| SEATVivid Seats Inc. | 32.0 m | 0.0 | 2,000.9% | 278.1% | −30.5% | −63% / −98% |
| GRSDGrandstand Limited | 29.8 m | — | -28.5% | -19.9% | +30.1% | −85% / −91% |
| FCHLFitness Champs Holdings Limited | 12.0 m | — | -349.1% | -32.9% | +4.7% | −100% / unavailable |
| FBYDFalcon’s Beyond Global, Inc. | 77 | — | -100.8% | -36.0% | +120.8% | −62% / −26% |
| MSGEMadison Square Garden Entertainment Corp. | — | 38.7 | — | 8.6% | +12.5% | +80% / +150% |
| MSGSMsg Knickerbockers Corp. | — | 983.9 | — | 0.7% | +11.0% | +38% / +86% |
| XPOFXponential Fitness, Inc. | — | — | — | -401.5% | −20.7% | −32% / −67% |
| CDROCodere Online Luxembourg, S.A. | — | — | 17.3% | 1.9% | +24.2% | +25% / +173% |
| ENHAEnhanced Group Inc. | — | — | -1,903.4% | — | unavailable | unavailable / unavailable |
| STUBStubhub Holdings, Inc. | — | — | -145.8% | -91.3% | −1.4% | −44% / unavailable |
| GDHGGolden Heaven Group Holdings Ltd. | — | — | -6.5% | -56.2% | −31.5% | −75% / −100% |
| DKNGDraftkings Inc. | — | — | -21.1% | -2.7% | +27.0% | −30% / −40% |
1- and 3-year price returns: for MSGE from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 12 Aug 2026; since then the company filed 8-K (04 Nov 2026 · results), 10-Q (04 Nov 2026).
In brief
Madison Square Garden Entertainment Corp. (MSGE) is a live entertainment company operating iconic venues in New York and Chicago, along with the Christmas Spectacular production and a bookings business for concerts and sporting events. For fiscal 2026, revenues reached 1,060.8 million USD 2, and the company says demand for its live offerings remained strong 12.
SWOT
Strengths
- A portfolio of iconic venues and recognized music and show brands.
- A strong position in the New York live entertainment market, described as the leading one in the country.
- Long-term agreements with the Knicks and Rangers that provide recurring events.
Weaknesses
- High dependence on a single production for a significant share of revenue.
- Revenue shared with MSG Sports on suites and merchandise, which reduces direct margin.
- Operating costs that are sensitive to inflation and labor expenses.
Opportunities
- Expanding artist residencies and multi-night events in existing venues.
- Developing new sponsorships and outdoor signage around Penn Station.
- Growing premium hospitality offerings for corporate clients.
Threats
- The real estate tax exemption for the Madison Square Garden complex could be reduced or repealed.
- Consumer and corporate spending could fall during economic slowdowns.
- Competition from other venues and digital entertainment options.
Risks
- Concentration on the Christmas Spectacularhigh
If the show's popularity declines, revenues from tickets, concessions and merchandise could fall significantly.
- Tax exemption for The Gardenmedium
Repeal or amendment of the property tax exemption could raise costs, and the effect would only be partly offset by the Arena License Agreements.
- Dependence on music licensesmedium
Higher PRO royalty rates or limits on passing them on to promoters could weigh on concert profitability.
- Economic slowdownhigh
A recession could reduce demand for tickets, suites and sponsorships, especially when consumer spending weakens.
- Penn Station redevelopmentmedium
The transfer of the Infosys Theater and the requirement that The Garden remain operational during works could bring costs and disruption.
Investment thesis
What would need to be true (bull case)
- Demand for live events appears solid, and revenues grew at a double-digit pace in fiscal 2026 2.
- Long-term sports agreements and multi-year suite licenses provide a relatively predictable revenue base.
- If growth in concert and sporting event revenues continues, adjusted operating income could keep improving.
What would break the thesis
- Dependence on a single production leaves the company exposed to shifts in public taste.
- The tax exemption and Penn Station are external factors that could materially change costs and access to venues.
- In a recession, spending on tickets and sponsorships could fall faster than fixed costs.
What to watch
- Trend in concert and sporting event revenuesQ1 2027
- Guidance on adjusted operating income for fiscal 20272027
- Status of definitive agreements on Penn Station and the Infosys Theaternext 10-K
- Developments on the Madison Square Garden real estate tax exemption2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 12 Aug 2026; since then the company filed 8-K (04 Nov 2026 · results), 10-Q (04 Nov 2026).
The business
The company produces, presents and hosts live events, from concerts and sporting events to family shows and special events, in The Garden, the Infosys Theater, Radio City Music Hall, the Beacon Theatre and The Chicago Theatre 1. In fiscal 2026 it hosted about 6.4 million guests at nearly 960 events 12. Most venues are typically licensed to third-party promoters for a fee, and the company only promotes or co-promotes some shows, in which case it bears the economic risk 1.
Revenue comes from ticket sales for its own events, venue license fees, facility and ticketing fees, concessions, sponsorships and signage, suite licenses, and merchandise 1. Suite licenses at The Garden are sold mostly to corporate customers, typically on multi-year terms with annual escalators, and revenues are shared with MSG Sports, with a 67.5% allocation to MSG Sports 1.
The company has long-term agreements with MSG Sports for the Knicks and Rangers to play home games at The Garden, agreements with a 35-year term running through 2055 1. The Christmas Spectacular runs exclusively at Radio City Music Hall and represented 18% of revenues in fiscal 2026 1.
Segments
Live entertainment and bookings
The company reports one segment, which includes concerts, family shows and special events. Revenues from entertainment offerings rose 29% in the fourth quarter of fiscal 2026, mainly because of more concerts at The Garden 2.
Market context
The company's main market is live entertainment in New York, and all revenues are generated in the United States, mostly in New York City 1. Demand depends on the popularity of artists and teams, as well as broader economic conditions that can affect spending on tickets, suites and sponsorships 1.
The company notes that a lack of popular artists or competition from other venues in New York and other cities could limit the number of events it hosts 1. Performance also depends on alternatives such as television, sporting events, music festivals and digital platforms 1.
Trends
- Strong demand for live eventstailwind
Revenues rose 13% in fiscal 2026, and management describes demand for live offerings as robust 2. If this continues, it could support growth in adjusted operating income in fiscal 2027, according to management 2.
- Dependence on the Christmas Spectacularheadwind
The production generates a significant share of revenue, and a decline in its popularity, for example from an economic downturn or another pandemic, could materially affect results 1.
- Cost and inflation pressureheadwind
Inflation can raise operating costs, including labor, food and venue maintenance, and the company may not be able to fully offset these increases through higher prices 1.
- Penn Station redevelopmentmixed
The redevelopment plan could change access to and operation of the venues, and a non-binding memorandum on transferring the Infosys Theater has not yet been finalized 2. The outcome depends on definitive agreements, which makes the effect uncertain 2.
Competitive position
The company competes with other leisure options such as television, films, restaurants, online platforms and other event venues in New York and elsewhere 1. For concerts, shows and sporting events, competition for artists and promoters is intense 1.
Its theaters and arenas compete directly with other venues in the New York metropolitan area and in Chicago, and new competing venues could affect traffic and rental pricing 1. Differentiation rests on its iconic brands and relationships with artists and sports leagues 1.
- Other New York event venues
Competition for concerts, sporting events and shows in the same metropolitan market.
- Other Chicago performance venues
Local competition for The Chicago Theatre and for cultural attractions in the city.
- Digital entertainment platforms
Competition for audience attention and spending through streaming, social media and online content.
- Other family and special-event entertainment
Shows, festivals and events that compete for the same public spending.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Quarterly report04 Nov 2026
- Current report04 Nov 2026Results of operations · Financial statements and exhibits
- Current report27 Oct 2026Other events · Financial statements and exhibits
- Proxy statement22 Oct 2026
- Annual report12 Aug 2026
- Current report12 Aug 2026Results of operations · Financial statements and exhibits
- Current report08 Jun 2026Regulation FD disclosure
- Quarterly report07 May 2026
- Current report07 May 2026Results of operations · Financial statements and exhibits
- Current report27 Mar 2026Departure or appointment of officers · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2026-06-30 · SEC / Madison Square Garden Entertainment Corp. · 12 Aug 2026
- [2] Form 8-K, results release (exhibit 99.1) · SEC / Madison Square Garden Entertainment Corp. · 12 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.