Madison Square Garden Sports Corp (MSGS)
Operating profit margin
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating income (ttm) | US$ in thousands | 14,808 | 89,687 | 137,087 | 152,589 | 120,421 | 55,921 | 57,930 | 80,631 | 85,174 | 121,077 | 100,719 | 85,120 | 86,080 | 41,617 | -11,652 | -85,977 | -78,443 | -102,620 | -245,948 | -126,700 |
| Revenue (ttm) | US$ in thousands | 1,039,220 | 1,062,514 | 1,068,271 | 1,037,410 | 1,027,149 | 926,818 | 879,608 | 906,404 | 887,447 | 935,732 | 890,762 | 826,649 | 821,354 | 793,051 | 638,287 | 377,477 | 415,721 | 261,859 | 502,811 | 1,102,845 |
| Operating profit margin | 1.42% | 8.44% | 12.83% | 14.71% | 11.72% | 6.03% | 6.59% | 8.90% | 9.60% | 12.94% | 11.31% | 10.30% | 10.48% | 5.25% | -1.83% | -22.78% | -18.87% | -39.19% | -48.91% | -11.49% |
June 30, 2025 calculation
Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $14,808K ÷ $1,039,220K
= 1.42%
The operating profit margin of Madison Square Garden Sports Corp has experienced notable fluctuations from September 30, 2020, through June 30, 2025. During the fiscal periods ending in late 2020, the company reported significant operating losses, with margins of -11.49% on September 30, 2020, escalating to -48.91% by December 31, 2020, and remaining substantially negative throughout early 2021, peaking at -48.91%. This trend reflects the adverse impact of the COVID-19 pandemic, which severely disrupted live sports and entertainment events, leading to reduced revenues and high operating costs relative to income.
As 2021 progressed, there was a gradual improvement in operating profitability. By March 31, 2021, the margin improved to -39.19%, and although the company continued to operate at a loss, the extent of negative margins diminished over time. The latter half of 2021 marked a significant turnaround, with the margin approaching near breakeven levels—reaching -1.83% on December 31, 2021.
In 2022, the company transitioned into consistent operational profitability. By the first quarter of 2022, the operating profit margin turned positive at 5.25%, maintaining upward momentum through the subsequent quarters: 10.48% at June 30, 2022, 10.30% at September 30, 2022, and 11.31% at December 31, 2022. This positive trend indicates stronger revenue generation and effective cost management.
Throughout 2023, the margins remained positive but showed some variability, with 12.94% at the end of March, a slight decrease to 9.60% by June, and further to 8.90% in September. The margins persisted into 2024, with a brief decline to 6.59% at the end of December 2023 but rebounded to 11.72% in June 2024 and reached a peak of 14.71% in September 2024. The subsequent quarters showed a slight moderation, with a margin of 12.83% in December 2024 and a decrease to 8.44% in March 2025, followed by a sharp decline to 1.42% in June 2025.
Overall, the trend demonstrates a significant recovery from the initial pandemic-induced losses, transitioning into sustained positive operating margins, with notable peaks and periodic declines in recent periods. The data suggest improving operational efficiency and revenue growth post-pandemic, though recent downward fluctuations indicate potential challenges or seasonal variations impacting profitability toward June 2025.
Peer comparison
Jun 30, 2025