MSGS NYSE Russell 1000 Earnings call
Madison Square Garden Sports (MSGS) · Q4 2026 results and valuation
Share price: $384.39 · 2026-11-11
Results Q4 2026 vs Q2 2026 · previous quarter · published 13 Aug 2026 and 5 Feb 2026
Management sounded restrained, in its script and in answers to analysts.
Only a basic analysis is available for this company at the moment.
1 · Numbers
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No financial figures for this pair
Outlook given
2 · How management spoke
Restrained
Less upbeat than 73% of company calls
Answers to analysts: typical, in line with the script.
Similar to last call.
3 · What stood out
Guidance
Combined season ticket renewals are expected to reach levels above 90%.
Valuation
Is Madison Square Garden Sports undervalued?
Reverse DCF. Free cash flow from the last full fiscal year (2026-06-30), grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.
At 9.1% growth a year (3-year revenue growth), the model's fair value is $65.70 a share — the stock trades 485% above it. Today's price assumes 35.6% growth a year.
Current price
$384.39
close of 2026-11-11
Market implies growth of iThe yearly free-cash-flow growth, for the next 10 years, that today’s share price already assumes. If you believe the company grows faster than this, the stock is cheap under this model; slower, and it is expensive.
+35.6% for 10 yrs
Fair value / share
$65.70
Buy below
$49.28
Price vs fair value
Overvalued >200%
Price vs buy-below price
Overvalued >200%
Read between the lines
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Key theme
Proposed spin-off would enable shareholders to more clearly evaluate each company alongside potential minority stake sales.
Source quote
“You know, as it relates to a minority stake sale at potential for minority stake sale on either team, our position... With respect to your first question, we believe that our proposed spin off as I mentioned earlier, would enable shareholders to more clearly evaluate each company's assets and growth prospects. We continue to be confident in the value of our teams, We are as confident as ever in that respect.”
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Guidance
Which Madison Square Garden Sports expects to drive incremental revenue for its business in fiscal 27.
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Guidance
MSG Sports reported full year revenues of approximately $1.2 billion and adjusted operating income of nearly $59 million for fiscal 26.
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Last period
Results reflect the NBA's new national media deals and per game revenue momentum across ticketing, suites and sponsorship.
Source quote
“These results also reflect higher national media rights fees as a result of the NBA's new national media deals, the impact... These results reflect positive momentum in key operating areas with per game revenues across all in-game categories including ticketing, suites, sponsorship, and food, beverage, and merchandise up as compared to the fiscal 2025 second quarter. As we look ahead with the ongoing momentum we see across our business, we remain...”
Tone
How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q4 2026. Ring: Q2 2026.
Script and answers carried a similar tone, so the script's message held up under questioning.
Sentences that drove the tone
“His proven track record of strategic financial leadership is an asset to our company, and we are pleased to have him on board.”
“These initiatives help drive robust year over year growth in merchandise per cap spending at the arena for fiscal 26.”
“With this unprecedented momentum, we achieved a number of operational milestones during the postseason.”
Topics
Most discussed now
- On Pages 4 and 5 of today's earnings release, Madison Square Garden Sports provides consolidated statements of operations and a…
- New This transaction would create 2 distinct publicly traded companies enabling shareholders to more clearly evaluate each company's assets and…
- New 1, that valuable time spent enhances Madison Square Garden Sports' relationship with its partners, and it improves the value proposition…
- For fiscal 26, Madison Square Garden Sports generated total revenues of $1.15 billion and adjusted operating income of $58.7 million…
- This primarily reflected Madison Square Garden Sports' amended local telecast rights agreement with MSG Networks as well as a decrease in…
Faded since Q2 2026
- Dropped Whether that's welcoming multiple generations of Rangers fans and alumni players to honor 100 years of Rangers hockey, as Madison Square…
- Fading Adjusted operating income increased $9.4 million to $29.7 million, primarily due to the increase in revenues partially offset by higher...
- Fading The increase in direct operating expenses primarily reflected higher team personnel compensation and corresponding luxury tax, higher…
- Fading That, Joe, is in keeping with Madison Square Garden Sports' goal of both improving the guest experience while also creating incremental…
Latest announcements
Official filings, newest first.
- Material agreement; Director or officer change; Regulation FD disclosure; Other events · SEC 8-K
- Director or officer change · SEC 8-K
- Results of operations · SEC 8-K
- Results of operations · SEC 8-K
- Director or officer change · SEC 8-K
- Director or officer change; Other events · SEC 8-K
- Results of operations · SEC 8-K
- Shareholder vote results · SEC 8-K