Madison Square Garden Sports Corp (MSGS)
Current ratio
| 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 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 216,942 | 250,645 | 215,633 | 200,796 | 149,233 | 261,931 | 207,937 | 220,002 | 205,269 | 264,069 | 218,555 | 165,951 | 185,246 | 202,364 | 175,480 | 96,100 | 128,278 | 1,742,090 | 1,405,170 | 1,335,760 |
| Total current liabilities | US$ in thousands | 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 | 290,254 | 886,722 | 870,005 | 860,222 |
| Current ratio | 0.42 | 0.48 | 0.38 | 0.36 | 0.29 | 0.51 | 0.43 | 0.42 | 0.47 | 0.58 | 0.48 | 0.39 | 0.50 | 0.58 | 0.50 | 0.31 | 0.44 | 1.96 | 1.62 | 1.55 |
June 30, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $216,942K ÷ $521,982K
= 0.42
The current ratio of Madison Square Garden Sports Corp has exhibited fluctuating trends over the past few quarters. As of June 30, 2024, the current ratio was 0.42, indicating that the company's current assets were only 42% of its current liabilities. This suggests a potential liquidity challenge, as the company may struggle to meet its short-term obligations.
Comparing this to historical data, the current ratio has been erratic, ranging from a low of 0.29 in June 2023 to a high of 1.96 in September 2019. The current ratio improved significantly in the first quarter of 2022 and the first quarter of 2021 when it was above 0.50, implying a stronger ability to cover short-term liabilities with current assets during those periods.
However, the downward trend in the most recent quarters raises concerns about the company's liquidity position and its ability to manage short-term financial obligations effectively. Investors and creditors may view a current ratio below 1 as a red flag, indicating potential financial distress.
Further analysis of the company's current assets and liabilities composition may provide insights into the factors driving the fluctuations in the current ratio and help determine the company's overall liquidity position.
Peer comparison
Jun 30, 2024