Forensic Analysis · Amusement & Recreation · as of Nov 9, 2026

Madison Square Garden Entertainment Corp. (MSGE)

A forensic read on Madison Square Garden Entertainment Corp. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

B · Sound & dependable

Forensic grade

Clean

Earnings quality

Forensic signals

12.5%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Madison Square Garden Entertainment Corp. earns a B (Sound & dependable) forensic quality grade. 1 forensic signal was flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

8.9%

FY2026

Return on invested capital. Return on invested capital is 8.9% in the latest fiscal year, against 9.8% in FY2024, having run between 7.3% and 9.8% across FY2024–FY2026 with no direction held. After-tax operating profit was $101M in FY2024 and $92M in FY2026, with operating income at 11.7% of revenue in FY2024, 13.0% in FY2025 and 13.3% in FY2026. The capital base behind it went from $1.0B in FY2024 to $1.0B in FY2026 (+1%), while the revenue it carried went from $959M to $1.1B. FY2024's operating profit carried a $18M restructuring charge that took about 1.5 points off that year's return, and FY2026's carried a $14M restructuring charge and a $14M asset write-down that took about 1.7 points off the latest; so, net of each other, the two charges take about 0.2 points off the -0.9-point change across FY2024–FY2026. A non-cash write-down lowers the reported return in the year it lands.

Key fundamentals

Latest Revenue$1.06B

Revenue Growth YoY+12.5%

Revenue CAGR (2yr)+5.2%

Net Margin6.2%

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Data from SEC EDGAR public filings · metrics as of Nov 9, 2026. Forensic signals flag probability, not certainty.

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