Madison Square Garden Entertainment Corp
NYSE: MSGE · COMMUNICATION SERVICES · ENTERTAINMENT
Updated 2026-06-05
Madison Square Garden Entertainment Corp (MSGE) Financial statements
SEC filings — annual and quarterly data.
Cash flow — annual
| Item | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $96.31M | $144.38M | $91.72M | $31.53M | $-148.12M | $95.35M | $135.69M | $111.27M | $115.30M |
| Capital expenditures | $41.83M | $187.36M | $184.00M | $29.64M | $10.31M | $15.80M | $15.19M | $24.18M | $22.22M |
| Depreciation | $98.07M | $112.06M | $109.34M | $88.13M | $77.04M | $81.25M | $60.46M | $53.88M | $57.77M |
| Stock-based comp | $22.18M | $27.29M | $35.40M | $26.11M | $40.66M | $39.36M | $31.81M | $31.17M | $27.69M |
| Free cash flow | $54.48M | $-42.98M | $-92.28M | $1.88M | $-158.43M | $79.55M | $120.51M | $87.08M | $93.08M |
| Investing cash flow | $-260.06M | $-169.62M | $-228.06M | $276.39M | $-84.44M | $-804.16M | $30.30M | $-62.37M | $-23.69M |
| Financing cash flow | $-38.63M | $15.36M | $-8.62M | $-315.38M | $473.49M | $-396.29M | $-144.22M | $-99.69M | $-81.62M |
| Dividends paid | — | — | — | — | $1.77M | $2.26M | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — |
| Debt repayment | — | — | — | — | — | — | — | — | — |
| Net change in cash | — | — | — | — | $259.41M | $-693.22M | $21.78M | — | — |
Frequently asked questions
What is Madison Square Garden Entertainment Corp's revenue?
Madison Square Garden Entertainment Corp's trailing twelve-month revenue is $1.02B. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is MSGE?
In its most recent fiscal year, MSGE ran a gross margin of 43.18%, an operating margin of 14.25%, and a net margin of 3.97%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does MSGE generate?
MSGE produced $93.08M in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is MSGE's balance sheet healthy?
MSGE holds $43.02M in cash and equivalents against $568.78M in long-term debt, on $-13.30M of shareholder equity. That debt is best read against the cash flow the business throws off each year.