Madison Square Garden Sports Corp (MSGS)
Pretax margin
| Jun 30, 2025 | Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | ||
|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) | US$ in thousands | -17,272 | 105,668 | 89,921 | 73,932 | -89,318 |
| Revenue | US$ in thousands | 1,039,220 | 1,027,150 | 887,447 | 821,354 | 415,721 |
| Pretax margin | -1.66% | 10.29% | 10.13% | 9.00% | -21.49% |
June 30, 2025 calculation
Pretax margin = EBT ÷ Revenue
= $-17,272K ÷ $1,039,220K
= -1.66%
The pretax margin of Madison Square Garden Sports Corp exhibits significant fluctuations over the period from June 30, 2021, to June 30, 2025. In fiscal year 2021, the company reported a pretax margin of -21.49%, indicating a period of operational inefficiency or substantial expenses exceeding revenues, resulting in an after-tax loss before considering taxes.
In the subsequent year, 2022, the pretax margin improved markedly to 9.00%, reflecting a transition toward profitability and possibly improved operational performance or one-time gains that contributed positively to earnings. This positive trajectory continued into 2023, with the pretax margin increasing modestly to 10.13%, suggesting sustained operational stability, although the margin remained relatively close to the break-even point.
In 2024, the pretax margin slightly increased again to 10.29%, indicating that the company was able to maintain steady operations and profitability levels, with no significant deterioration or improvement from the previous year.
However, in fiscal year 2025, the pretax margin fell to -1.66%, signaling a reversal that could be attributed to increased expenses, revenue declines, or other operational challenges. This negative shift disrupts the prior trend of profitability, suggesting renewed pressures on profitability metrics that require further analysis to understand underlying causes.
Overall, the company's pretax margin demonstrates a recovery from a significant loss in 2021, reaching positive territory and maintaining modest profitability through 2024, before experiencing a decline into a slight pretax loss in 2025.
Peer comparison
Jun 30, 2025