MSGS (Madison Square Garden Sports) EBIT: $-21 Mil (TTM As of Mar. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

MSGS Madison Square Garden Sports Corp MSGS
52 GF Score
Price $391.56
GF Value $224.35
Valuation Significantly Overvalued
! 6 Warning Signs
View Full Analysis

What is Madison Square Garden Sports EBIT?

Madison Square Garden Sports MSGS +0.05% 52 EBIT is $-21 Mil as of Mar. 2026. GuruFocus rates MSGS with a GF Score™ of 52/100 and a GF Value™ of $224.35 (Significantly Overvalued). The stock has 6 warning signs investors should review.

Madison Square Garden Sports's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was $-8 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was $-21 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Madison Square Garden Sports's annualized ROC % for the quarter that ended in Mar. 2026 was 0.79%. Madison Square Garden Sports's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -4.36%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Madison Square Garden Sports's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -0.20%.


Madison Square Garden Sports  (NYSE:MSGS) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Madison Square Garden Sports's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=12.828 * ( 1 - 0% )/( (1673.472 + 1562.572)/ 2 )
=12.828/1618.022
=0.79 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=1544.74 - 213.317 - ( 81.302 - max(0, 641.609 - 299.56+81.302))
=1673.472

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=1509.347 - 289.03 - ( 107.039 - max(0, 637.811 - 295.556+107.039))
=1562.572

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Madison Square Garden Sports's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-33.836/( ( (779.575 + max(-363.851, 0)) + (771.45 + max(-390.336, 0)) )/ 2 )
=-33.836/( ( 779.575 + 771.45 )/ 2 )
=-33.836/775.5125
=-4.36 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(90.184 + 0 + 107.699) - (213.317 + 249.117 + 99.3)
=-363.851

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(76.563 + 0 + 97.427) - (289.03 + 102.049 + 173.247)
=-390.336

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Madison Square Garden Sports's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=-21.182/10487.997
=-0.20 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Madison Square Garden Sports EBIT Related Terms


Madison Square Garden Sports EBIT Historical Data

* Premium members only.

The historical data trend for Madison Square Garden Sports's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Madison Square Garden Sports EBIT Chart

Madison Square Garden Sports Annual Data
Trend Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only -78.76 85.67 112.81 133.26 4.38

Madison Square Garden Sports Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 27.65 -22.13 -11.76 21.17 -8.46

MSGS vs PSKY, SIRI, LLYVA: EBIT Comparison

For the Entertainment subindustry, Madison Square Garden Sports's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Madison Square Garden Sports EV-to-EBIT vs Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, Madison Square Garden Sports's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Madison Square Garden Sports's EV-to-EBIT falls into.


MSGS
52GF Score
Madison Square Garden Sports Corp MSGS
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Madison Square Garden Sports EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $-21 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of $-21 Mil mean?
Madison Square Garden Sports (MSGS) has a EBIT of $-21 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Madison Square Garden Sports.
Is Madison Square Garden Sports' EBIT too high?
Madison Square Garden Sports' current EBIT is $-21 Mil. Overall, Madison Square Garden Sports has a GF Score™ of 52/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Madison Square Garden Sports' EBIT compare to PSKY and SIRI?
Madison Square Garden Sports' EBIT of $-21 Mil can be compared against companies in the Media - Diversified industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for a Media - Diversified company?
A good EBIT depends on the Media - Diversified industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Madison Square Garden Sports. Madison Square Garden Sports's current EBIT is $-21 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Madison Square Garden Sports stock overvalued right now?
Based on GuruFocus' analysis, Madison Square Garden Sports (MSGS) is currently considered Significantly Overvalued. The stock's GF Value™ is $224.35, compared to a current price of $391.56 — trading 74.5% above its estimated fair value. The current EBIT is $-21 Mil. Madison Square Garden Sports' overall GF Score™ is 52/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For Madison Square Garden Sports (MSGS), the current EBIT is $-21 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Madison Square Garden Sports (MSGS) Overvalued in 2026?

Based on GuruFocus' analysis, Madison Square Garden Sports stock appears to be overvalued. The current stock price of $391.56 is trading 74.5% above its estimated GF Value™ of $224.35. GuruFocus considers Madison Square Garden Sports to be Significantly Overvalued.

Key valuation signals for MSGS:

  • EBIT: $-21 Mil
  • GF Value™: $224.35 vs. price of $391.56 (74.5% above fair value)
  • GF Score™: 52/100 with 6 warning signs

No single metric tells the full story. See the MSGS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Madison Square Garden Sports Business Description

Other Exchanges MS8:Germany
Address Two Penn Plaza, New York, NY, USA, 10121
Madison Square Garden Sports Corp owns and operates a portfolio of assets featuring some of the recognized sports teams, including the Knicks of the NBA and the Rangers of the NHL. It generates revenue from several sources: ticket sales and a portion of suite rental fees at The Garden and others. It has one operating and reportable segment and one reporting unit for goodwill impairment testing purposes.
52GF Score

Get the complete analysis for MSGS

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$391.56
Price
$224.35
GF Value