Madison Square Garden Sports Corp (MSGS)
Solvency ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-capital ratio | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Debt-to-equity ratio | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Financial leverage ratio | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
The financial data indicates that Madison Square Garden Sports Corp maintains a debt-to-assets ratio consistently at zero across all reporting periods from September 2020 through June 2025. This constant value suggests that the company has zero reported debt relative to its total assets over this timeframe, implying an exceptionally strong solvency position characterized by complete absence of financed liabilities.
Additionally, the absence of data for the debt-to-capital ratio, debt-to-equity ratio, and financial leverage ratio throughout the same period confirms that the company does not utilize debt financing, at least within the parameters captured by these ratios. The lack of leverage indicates that the firm's capital structure is entirely equity-based.
In summary, Madison Square Garden Sports Corp displays an extremely favorable solvency profile, with no reliance on debt for its financing needs. This position minimizes financial risk related to leverage and interest obligations, positioning the company as highly solvent over the observed period. However, it is also important to recognize that this scenario may reflect a unique corporate strategy or specific accounting practices, and further contextual analysis of the company's overall financial statements would be necessary for comprehensive insights.
Coverage ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 0.20 | 3.42 | 5.25 | 5.83 | 4.97 | 2.86 | 3.64 | 4.58 | 4.93 | 7.48 | 7.03 | 7.11 | 7.30 | 3.37 | -0.92 | -7.38 | -7.46 | -10.68 | -34.52 | -21.69 |
The interest coverage ratio of Madison Square Garden Sports Corp exhibits significant fluctuation over the analyzed period, reflecting varying levels of financial stability and earnings capacity to meet interest obligations. From the start of the period through September 2021, the ratio is markedly negative, with values of -21.69 (September 30, 2020), -34.52 (December 31, 2020), -10.68 (March 31, 2021), -7.46 (June 30, 2021), and -7.38 (September 30, 2021). These negative figures indicate that the company's earnings before interest and taxes (EBIT) were insufficient to cover interest expenses, signaling periods of financial distress and potential concern regarding debt servicing ability.
The situation shows some improvement starting at the end of 2021, with the interest coverage ratio turning positive at March 31, 2022, at 3.37. This marks a significant turnaround, suggesting that the company’s earnings had increased sufficiently to cover interest obligations more comfortably. The positive ratios continue through 2022 and 2023, with values of 7.30, 7.11, 7.03, and 7.48 respectively, indicating a period of relative financial stability and improved profitability.
However, a downward trend begins towards the latter part of 2023 and into 2024, with ratios decreasing to 4.93 (June 30, 2023), 4.58 (September 30, 2023), and further down to 3.64 (December 31, 2023), 2.86 (March 31, 2024), and continuing downward to 2.86 at March 31, 2024, and further to 0.20 at June 30, 2025. The declining interest coverage ratio indicates a deterioration in earnings relative to interest obligations, raising concerns about the company's capacity to service its debt in the near term, especially given the very low ratio of 0.20 at mid-2025, which suggests EBIT is barely covering interest expenses.
Overall, the data reflects a period of severe financial distress in 2020 and early 2021, followed by a notable recovery throughout 2022 and 2023, and a subsequent decline towards mid-2025. Continued deterioration in interest coverage could signal rising financial risk and warrants close monitoring of earnings and debt levels.