Madison Square Garden Sports Corp (MSGS)

Cash ratio

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
Cash and cash equivalents US$ in thousands 153,188 96,536 107,823 52,252 94,907 44,784 37,880 51,208 40,398 65,182 43,912 81,036 91,018 49,176 54,815 33,610 64,902 69,128 70,762 23,527
Short-term investments US$ in thousands 5,832
Total current liabilities US$ in thousands 563,523 617,189 602,986 574,675 521,982 526,555 560,437 553,727 520,528 510,564 482,960 522,148 438,299 454,487 451,798 429,773 368,278 348,553 348,148 312,444
Cash ratio 0.27 0.16 0.18 0.10 0.18 0.09 0.07 0.09 0.08 0.13 0.09 0.16 0.21 0.11 0.12 0.08 0.18 0.20 0.20 0.08

June 30, 2025 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($153,188K + $—K) ÷ $563,523K
= 0.27

The cash ratio of Madison Square Garden Sports Corp over the period from September 2020 through June 2025 exhibits notable fluctuations with an overall trend of variability in liquidity positioning. Initially, the ratio was relatively low at 0.08 as of September 2020, indicating limited cash holdings relative to current liabilities. Subsequently, it increased markedly to 0.20 by the end of 2020 and remained stable through March 2021, again at 0.20, suggesting a moderate improvement in liquidity during that period.

Between June 2021 and September 2021, the ratio declined sharply back to 0.08, reverting to the initial low levels, then experienced slight fluctuations in the subsequent quarters, with values of 0.12 in December 2021 and 0.11 in March 2022. A notable increase occurred in June 2022, reaching 0.21, nearly doubling previous levels, before decreasing again to 0.16 in September 2022 and dropping further to 0.09 by December 2022.

In 2023, the ratio fluctuated around 0.07 to 0.13, with a slight uptick to 0.18 in June 2023. The values suggest periods of moderate liquidity, but overall the ratios remain below 0.20 in most instances, indicating that cash holdings tend to comprise a relatively small proportion of current liabilities.

The data from 2024 indicates a period of stability with ratios oscillating between 0.07 and 0.18, and a notable peak at 0.27 in June 2025, suggesting improved liquidity in that quarter. These recent higher levels reflect an increased cushion of cash relative to current liabilities, implying a more favorable liquidity position at that time.

Overall, the company's cash ratio has demonstrated significant variability over the period, with fluctuations reflecting changes in cash holdings relative to current liabilities. While periods of higher liquidity are observed, particularly in mid-2022 and June 2025, the ratio generally remains below 0.20, indicating a conservative cash position relative to short-term obligations.


Peer comparison

Jun 30, 2025

Company name
Symbol
Cash ratio
Madison Square Garden Sports Corp
MSGS
0.27
Golden Entertainment Inc
GDEN
0.57
Vail Resorts Inc
MTN
0.29
Walt Disney Company
DIS
0.17