Madison Square Garden Sports Corp (MSGS)
Payables turnover
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 756,722 | 709,616 | 667,095 | 623,567 | 618,094 | 589,936 | 555,173 | 548,650 | 548,811 | 561,300 | 528,522 | 495,667 | 500,564 | 506,631 | 426,868 | 250,682 | 281,890 | 200,668 | 346,820 | 701,497 |
| Payables | US$ in thousands | 14,143 | 6,948 | 6,396 | 5,334 | 9,900 | 5,906 | 4,969 | 5,476 | 9,093 | 8,236 | 7,924 | 6,378 | 11,263 | 3,324 | 3,009 | 1,692 | 2,226 | 1,554 | 1,174 | 1,303 |
| Payables turnover | 53.51 | 102.13 | 104.30 | 116.90 | 62.43 | 99.89 | 111.73 | 100.19 | 60.36 | 68.15 | 66.70 | 77.72 | 44.44 | 152.42 | 141.86 | 148.16 | 126.64 | 129.13 | 295.42 | 538.37 |
June 30, 2025 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $756,722K ÷ $14,143K
= 53.51
The payables turnover ratio for Madison Square Garden Sports Corp exhibits significant fluctuations over the observed periods, reflecting changes in the company's efficiency in paying its suppliers. As of September 30, 2020, the ratio was notably high at approximately 538.37, indicating a very rapid payment cycle, likely influenced by specific industry or company factors at that time. This ratio decreased markedly over the subsequent quarters, reaching a low point of approximately 44.44 as of June 30, 2022, suggesting a lengthening in the accounts payable period and potentially signaling a strategic delay in payments or cash flow management adjustments.
Following this low point, the ratio experienced some recovery, rising to approximately 116.90 by September 30, 2024, which indicates a relative shortening of the payables period compared to the lows observed earlier. However, the ratio remained below initial levels seen in 2020, highlighting a trend toward more extended payment cycles over the period. This pattern may reflect evolving vendor relationships, working capital strategies, or operational adjustments within the company.
Overall, the ratios suggest that Madison Square Garden Sports Corp has shifted from a very rapid payment cycle at the pandemic's onset to periods of extended payables, with some recent signs of normalization or slight tightening in payment practices. These variations could be attributed to operational needs, liquidity management strategies, or external economic conditions affecting the company's ability or willingness to accelerate or delay payments to suppliers.
Peer comparison
Jun 30, 2025