Assay
Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
|
| Madison Square Garden Entertainment Corp.MSGE · other | |
|---|---|
| Grade |  Astrongest fifth of 336 graded peers; percentile 16.4, sampling error 2.6 points; lower is stronger |
| Rank | 56 of 336 |
| Profitability | Apercentile 17.0 |
| Solvency | Cpercentile 57.3 |
| Growth and financing | Bpercentile 27.6 |
| Reliability | 0.91 AUCfailure model, filers with $591M to $2.67B assets; 95% interval 0.88 to 0.94; 160 events, 2020 to 2025 |
| Peer failure rate | 1.01% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025 |
| Size band | $591M to $2.67B assetstotal assets $1.9B[1] |
| Standard universe | insiderevenue above $1M and assets above $10M[1-2] |
| Warnings | none activenot computable: dilution, distress |
| Inputs computable | 7 of 14 |
| Graded from | filings received through Aug 12, 202658 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $81.842026-10-08; market equity $0; iex feed |
| Price used in grade | None |
| Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date. Open this report as it stood on | ||||||||||||||||
Each date opens the report as it stood on that rescan. |
Business, in the company's words. Opening of Item 1 of the 10-K received Aug 12, 2026; the document on sec.gov.
Madison Square Garden Entertainment Corp. is a Nevada corporation with its principal executive offices at Two Pennsylvania Plaza, New York, NY, 10121. Unless the context otherwise requires, all references to “we,” “us,” “our,” “MSG Entertainment” or the “Company” refer collectively to Madison Square Garden Entertainment Corp., a holding company, and its direct and indirect subsidiaries. We conduct substantially all of our business activities discussed in this Annual Report on Form 10-K through MSG Entertainment Holdings, LLC and its direct and indirect subsidiaries.
The Fourteen Inputs [top]
Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.
| Input | Percentile, 0 to 100 | Value | Source | Peer median | Percentile | Peers | Period end |
|---|---|---|---|---|---|---|---|
| Profitability, sleeve percentile 17.0 | |||||||
| Gross profitability | not computable | 27.1% | |||||
| one or more required annual facts are missing | |||||||
| Return on invested capital | 21.8% | [3-11] | 10.0% | 18.7 | 151 | 2026-06-30 | |
| Accruals ratio | (15.8%) | [1,12-14] | (5.9%) | 15.2 | 506 | 2026-06-30 | |
| Gross margin stability, five years | not computable | 2.2 pts | |||||
| five annual gross margins are required; found 0 | |||||||
| Solvency, sleeve percentile 57.3 | |||||||
| Twelve-month failure probability | not computable | 0.04% | |||||
| liabilities and a nearby cover-page share count are required at 2026-06-30 | |||||||
| Altman Z double-prime | 0.12 | [1,3,7,15-18] | 2.05 | 58.7 | 386 | 2026-06-30 | |
| Net debt to EBITDA | 1.25x | [3,6,8,19] | 2.52x | 31.1 | 184 | 2026-06-30 | |
| Interest coverage | not computable | 2.18x | |||||
| latest aligned inputs end 2023-06-30; latest annual assets end 2026-06-30 | |||||||
| Current ratio | 0.70x | [15-16] | 1.32x | 82.2 | 506 | 2026-06-30 | |
| Growth and financing, sleeve percentile 27.6 | |||||||
| Revenue growth, three-year compound | 10.8% | [2,20-22] | 5.1% | 29.6 | 403 | 2026-06-30 | |
| Free cash flow growth, three-year compound | not computable | 8.7% | |||||
| four consecutive annual FCF observations are required; found 0 | |||||||
| Reinvestment rate | not computable | 11.9% | |||||
| one or more required annual facts are missing | |||||||
| Asset growth, three years | 11.4% | [1,14,23-24] | 4.1% | 25.6 | 438 | 2026-06-30 | |
| Net share issuance, one year | not computable | (0.4%) | |||||
| two annual share counts are required; found 0 | |||||||
Gross profitability. Revenue less cost of goods sold, over total assets.
Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.
Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.
Twelve-month failure probability. CHS model; lower is stronger.
Net debt to EBITDA. Lower is stronger.
Net share issuance, one year. Split-adjusted; lower is stronger.
Sleeves are equal-weighted; within a sleeve each computable input carries equal weight. Composite -0.315; sampling error 2.6 percentile points on 336 peers.
Among 336 Peers [top]
Composite score of every graded peer, smoothed. Vertical rules are the letter band edges at the 20th, 40th, 60th and 80th percentiles. Small dots are the six largest peers by market equity.
| Rank | Company | Percentile | Letter | Warnings |
|---|---|---|---|---|
| 51 | Emcor Group, Inc. (EME) Emcor Group, Inc. (EME) Astrongest fifth; percentile 14.9 NYSE · Electrical Work market equity $34.3B; last close $777.80 Warnings: fortress balance sheet; 11 of 14 inputs | 14.9 | A | fortress balance sheet |
| 52 | Concentrix Corp. (CNXC) Concentrix Corp. (CNXC) Astrongest fifth; percentile 15.2 Nasdaq · Services-Business Services, NEC market equity $1.7B; last close $27.08 No active warnings; 10 of 14 inputs | 15.2 | A | |
| 53 | OptimizeRx Corp. (OPRX) OptimizeRx Corp. (OPRX) Astrongest fifth; percentile 15.5 Nasdaq · Services-Business Services, NEC market equity $157.8M; last close $8.37 No active warnings; 12 of 14 inputs | 15.5 | A | |
| 54 | Mercadolibre Inc. (MELI) Mercadolibre Inc. (MELI) Astrongest fifth; percentile 15.8 Nasdaq · Services-Business Services, NEC market equity $94.1B; last close $1,855.54 No active warnings; 11 of 14 inputs | 15.8 | A | |
| 55 | Expedia Group, Inc. (EXPE) Expedia Group, Inc. (EXPE) Astrongest fifth; percentile 16.1 Nasdaq · Transportation Services market equity $30.9B; last close $270.29 No active warnings; 9 of 14 inputs | 16.1 | A | |
| 56 | Madison Square Garden Entertainment Corp. (MSGE) Madison Square Garden Entertainment Corp. (MSGE) Astrongest fifth; percentile 16.4 NYSE · Services-Miscellaneous Amusement & Recreation last close $81.84 No active warnings; 7 of 14 inputs | 16.4 | A | |
| 57 | LAS Vegas Sands Corp. (LVS) LAS Vegas Sands Corp. (LVS) Astrongest fifth; percentile 16.7 NYSE · Hotels & Motels market equity $23.4B; last close $36.09 No active warnings; 8 of 14 inputs | 16.7 | A | |
| 58 | Tidewater Inc. (TDW) Tidewater Inc. (TDW) Astrongest fifth; percentile 17.0 NYSE · Water Transportation last close $84.59 No active warnings; 7 of 14 inputs | 17.0 | A | |
| 59 | Canterbury Park Holding Corp. (CPHC) Canterbury Park Holding Corp. (CPHC) Astrongest fifth; percentile 17.3 Nasdaq · Services-Racing, Including Track Operation market equity $81.7M; last close $15.71 No active warnings; 7 of 14 inputs | 17.3 | A | |
| 60 | Msci Inc. (MSCI) Msci Inc. (MSCI) A/Bon the A/B boundary; percentile 17.6 NYSE · Services-Business Services, NEC market equity $40.8B; last close $561.55 No active warnings; 10 of 14 inputs | 17.6 | A/B | |
| 61 | Akamai Technologies Inc. (AKAM) Akamai Technologies Inc. (AKAM) A/Bon the A/B boundary; percentile 17.9 Nasdaq · Services-Business Services, NEC market equity $14.5B; last close $100.86 No active warnings; 11 of 14 inputs | 17.9 | A/B |
| Peer policy | Letter | Percentile | Peers |
|---|---|---|---|
| all graded filers, equal sleeves | A | 15.5 | 2204 |
| sector peers, equal sleeves (the grade) | A | 16.4 | 336 |
| same exchange, equal sleeves | A | 12.2 | 984 |
| sector peers, equal inputs | B | 23.6 | 336 |
Each letter is one fifth of the 336 graded peers, about 67 companies. A boundary letter (A/B, B/C, C/D, D/E) marks a percentile within one sampling error of a band edge.
What the Price Implies [top]
Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.
| Measure | Value | Peer median | Percentile | Reading |
|---|---|---|---|---|
| Twelve-month price change, skipping the latest month | 71.7% | 2.0% | 92 | hotter than 92 of 100 peers |
| Distance from 52-week high | (7.6%) | (26.8%) | 85 | closer to its high than 85 of 100 peers |
| EBIT to enterprise value | not computable | 4.4% | required accounting or market input is missing | |
| Free cash flow yield | not computable | 4.1% | required accounting or market input is missing | |
| Book value to price | not computable | 0.34 | required accounting or market input is missing | |
| Sales to price | not computable | 0.70 | required accounting or market input is missing | |
| Composite equity issuance, five years | not computable | (8.8%) | required accounting or market input is missing | |
| Relative strength against the sector, log excess return | 0.39 | (0.13) | 92 | ahead of 92 of 100 peers |
Inputs: EBIT $141.5M; book equity $45.8M; sales $1.1B; debt $540.3M; cash $293.6M.
Diagnostics [top]
Diagnostics do not feed the grade.
| Piotroski F-score: None of 9, period end 2026-06-30 | ||
|---|---|---|
| Return on assets above zero | 4.0% | ✓ pass[12,14] |
| Operating cash flow above zero | $351.4M | ✓ pass[13] |
| Return on assets improved | 1.6 pts | ✓ pass[12,14,23,25] |
| Operating cash flow exceeds net income | $285.2M | ✓ pass[12-13] |
| Long-term leverage fell | (5.3 pts) | ✓ pass[1,14,23,26-27] |
| Current ratio improved | 22.6 pts | ✓ pass[15-16,28-29] |
| No new shares issued | n/a | |
| Gross margin improved | n/a | |
| Asset turnover improved | 2.8 pts | ✓ pass[2,14,20,23] |
| Cash, filings, liquidity | |
|---|---|
| Cash and equivalents | $293.6M[8] |
| Operating cash flow, four quarters | $351.4M[8,13,30-32] |
| Months of runway | not finite |
| trailing operating cash flow is nonnegative, so runway is not finite | |
| Late filings, two years | 0 |
| NT 10-K or NT 10-Q | |
| Days since last periodic filing | 58 |
| 10-K received Aug 12, 2026 | |
| Median daily dollar volume | $27.6M |
| 63 sessions | |
| Days since newest grade input | 58 |
Downloads [top]
|
Sources [top]
Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.
| # | Concept | XBRL tag | Value | Period end | Received | Form | Links |
|---|---|---|---|---|---|---|---|
| 1 | assets | us-gaap:Assets | $1.9B | 2026-06-30 | 2026-08-12 | 10-K | filing · viewer · series |
| 2 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $1.1B | 2026-06-30 | 2026-08-12 | 10-K | filing · viewer · series |
| 3 | operating income | us-gaap:OperatingIncomeLoss | $141.5M | 2026-06-30 | 2026-08-12 | 10-K | filing · viewer · series |
| 4 | pretax income | us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest | $107.0M | 2026-06-30 | 2026-08-12 | 10-K | filing · viewer · series |
| 5 | income tax | us-gaap:IncomeTaxExpenseBenefit | $40.8M | 2026-06-30 | 2026-08-12 | 10-K | filing · viewer · series |
| 6 | total debt | us-gaap:LongTermDebt | $540.3M | 2026-06-30 | 2026-08-12 | 10-K | filing · viewer · series |
| 7 | book equity | us-gaap:StockholdersEquity | $45.8M | 2026-06-30 | 2026-08-12 | 10-K | filing · viewer · series |
| 8 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $293.6M | 2026-06-30 | 2026-08-12 | 10-K | filing · viewer · series |
| 9 | total debt | us-gaap:LongTermDebt | $568.8M | 2025-06-30 | 2026-08-12 | 10-K | filing · viewer · series |
| 10 | book equity | us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest | -$13.3M | 2025-06-30 | 2025-08-13 | 10-K | filing · viewer · series |
| 11 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $43.0M | 2025-06-30 | 2026-08-12 | 10-K | filing · viewer · series |
| 12 | net income | us-gaap:NetIncomeLoss | $66.2M | 2026-06-30 | 2026-08-12 | 10-K | filing · viewer · series |
| 13 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $351.4M | 2026-06-30 | 2026-08-12 | 10-K | filing · viewer · series |
| 14 | assets | us-gaap:Assets | $1.7B | 2025-06-30 | 2026-08-12 | 10-K | filing · viewer · series |
| 15 | current assets | us-gaap:AssetsCurrent | $522.1M | 2026-06-30 | 2026-08-12 | 10-K | filing · viewer · series |
| 16 | current liabilities | us-gaap:LiabilitiesCurrent | $748.3M | 2026-06-30 | 2026-08-12 | 10-K | filing · viewer · series |
| 17 | retained earnings | us-gaap:RetainedEarningsAccumulatedDeficit | $219.2M | 2026-06-30 | 2026-08-12 | 10-K | filing · viewer · series |
| 18 | liabilities | us-gaap:Liabilities | $1.9B | 2026-06-30 | 2026-08-12 | 10-K | filing · viewer · series |
| 19 | depreciation amortization | us-gaap:DepreciationDepletionAndAmortization | $56.1M | 2026-06-30 | 2026-08-12 | 10-K | filing · viewer · series |
| 20 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $942.7M | 2025-06-30 | 2026-08-12 | 10-K | filing · viewer · series |
| 21 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $959.3M | 2024-06-30 | 2026-08-12 | 10-K | filing · viewer · series |
| 22 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $779.8M | 2023-06-30 | 2025-08-13 | 10-K | filing · viewer · series |
| 23 | assets | us-gaap:Assets | $1.6B | 2024-06-30 | 2025-08-13 | 10-K | filing · viewer · series |
| 24 | assets | us-gaap:Assets | $1.4B | 2023-06-30 | 2024-08-16 | 10-K | filing · viewer · series |
| 25 | net income | us-gaap:NetIncomeLoss | $37.4M | 2025-06-30 | 2026-08-12 | 10-K | filing · viewer · series |
| 26 | long term debt | us-gaap:LongTermDebtNoncurrent | $540.3M | 2026-06-30 | 2026-08-12 | 10-K | filing · viewer · series |
| 27 | long term debt | us-gaap:LongTermDebtNoncurrent | $568.8M | 2025-06-30 | 2026-08-12 | 10-K | filing · viewer · series |
| 28 | current assets | us-gaap:AssetsCurrent | $237.1M | 2025-06-30 | 2026-08-12 | 10-K | filing · viewer · series |
| 29 | current liabilities | us-gaap:LiabilitiesCurrent | $502.4M | 2025-06-30 | 2026-08-12 | 10-K | filing · viewer · series |
| 30 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $368.1M | 2026-03-31 | 2026-05-07 | 10-Q | filing · viewer · series |
| 31 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $184.2M | 2025-12-31 | 2026-02-06 | 10-Q | filing · viewer · series |
| 32 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $19.8M | 2025-09-30 | 2025-11-06 | 10-Q | filing · viewer · series |
Limitations [top]
Grade boundary. Percentile 16.4 is 3.6 points from the nearest band edge; sampling error is 2.6 points.
Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.
Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.
Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.
Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.
Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.
.jpg){kind=link}
.jpg){kind=link}
.jpg){kind=link}
.jpg){kind=link}
.jpg){kind=link}
.jpg){kind=link}
