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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.
$72.35
+$1.82 (+2.58%)
Price from 4 days ago
12.95% operating margin is respectable but not wide. ROIC at 8.27%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue declined 1.7% YoY. The question is whether this is cyclical or a structural shift.
At 70x earnings, the current multiple leaves limited room for execution misses or growth deceleration. Net debt of $1.16B represents 12.4x FCF, leverage limits flexibility.
70.2x earnings, 11.1x FCF. The market is pricing in years of above-average growth. If that thesis breaks, downside from multiple compression alone could be 30%+. This is a stock where you're paying for the future, not the present.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$1.02B
▼ -1.7% YoY
Net Income (TTM)
$49M
▼ -74.1% YoY
Op. Margin
12.22%
▲ +1.3pp YoY
ROIC
7.72%
▼ -0.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$313M
▲ +6.9% YoY
Op. Cash Flow (TTM)
$341M
▲ +3.6% YoY
Net Debt
$864M
Cash & Equiv.
$323M
3Y CAGR: +13.0%
3Y CAGR: +5.4%
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