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Owns the NBA's New York Knicks and the Westchester Knicks; renamed from MSG Sports after the Rangers spin-off.
Owns the NBA's New York Knicks and the Westchester Knicks; renamed from MSG Sports after the Rangers spin-off.
Earns from media-rights fees for Knicks broadcasts, ticket and suite sales at Madison Square Garden, and sponsorships. The Rangers hockey team was spun off in October 2026 into a separate listed company, MSG Rangers (MSGR), and this company was renamed from MSG Sports, leaving it a one-franchise business. James Dolan leads both, and the Dolan family keeps control through supervoting class B shares.
Moat: wide (brand, regulatory licence). League caps franchises; the Knicks pair the largest US media market with a loyal fan base.
Headquarters: New York, United States · Founded: 2010 · Employees: 1,017
Size MSG Knickerbockers (MSGK) is a United States Communication Services company (Movies/Entertainment) with a market value of $7.51B, the 927th largest of 3,117 United States companies the cockpit tracks. Shares closed at $311.22 on 6 Nov 2026.
Growth Revenue grew 11.0% over the last twelve months (peer median +4.2%); the operating margin is 2.7% (peer median 13.6%).
Valuation It trades at 7.4× enterprise value to sales against a peer median of 3.8× (3rd most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 61% a year for seven years (Req g). Recent delivered growth is +23%, so the hurdle is +38 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 4.2 points below its cost of capital (7.5% WACC).
Backlog Backlog (remaining performance obligations) was $617M at 30 Sep 2026, up 24% on a year earlier — 0.5 years of trailing revenue. Backlog detail →
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | $1.15B | $1.15B | $1.04B | $1.03B | $887M |
| Revenue growth | — | +11% | +1% | +16% | — |
| Gross profit | $317M | $317M | $281M | $407M | $335M |
| EBITDA | $34.1M | $34.1M | $18.0M | $149M | $88.8M |
| Net income | $7.76M | $7.76M | -$22.4M | $58.8M | $47.8M |
| Free cash flow | $57.8M | $57.8M | $88.0M | $90.7M | $151M |
| Capital expenditure | $1.41M | $1.41M | $3.62M | $1.45M | $1.18M |
| Total debt | $1.16B | $1.16B | $1.18B | $1.11B | $1.12B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| MSG Knickerbockers MSGK | $7.51B | n/a | +11% | 3% | 7.4× | 61.1% |
| Atlanta Braves BATRA | $3.23B | +1% | +6% | -9% | 5.3× | n/a |
| Manchester United MANU | $3.90B | +15% | +5% | -2% | 5.2× | 18.3% |
| Liberty Media FWONA | $27.3B | +18% | +12% | 12% | 7.3× | 29.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | MSGK | Peer median | Rank in peer set |
|---|---|---|---|
| Revenue growth (TTM) | +11.0% | +4.2% | 6th highest of 20 |
| Operating margin | 2.7% | 13.6% | 8th lowest of 21 |
| EV / Sales | 7.4× | 3.8× | 3rd most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 61.1% | 5.8% | most demanding of 17 |
| Growth delivered (Del g) | +22.6% | +16.7% | 7th highest of 17 |
| Hurdle (Req g minus delivered) | +38.4 pp | -18.9 pp | most demanding of 17 |
| ROIC minus cost of capital | -4.2 pp | +1.7 pp | 7th lowest of 21 |
| Net debt / EBITDA | 29.2× | 2.8× | 2nd most indebted of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| MSG Knickerbockers MSGK | United States | $7.51B | n/a | +11% | 3% | 7.4× | 61.1% | +22.6% |
| Churchill Downs CHDN | United States | $6.71B | +11% | +4% | 26% | 3.7× | 2.3% | +22.7% |
| CTS Eventim AG & Co. KGaA EVD.DE | Germany | $6.68B | +11% | +14% | 15% | 1.5× | 6.8% | +64.3% |
| Lottery TLC.AX | Australia | $8.47B | +4% | -5% | 16% | 4.0× | 9.9% | +3.8% |
| DraftKings DKNG | United States | $9.19B | -27% | +15% | -3% | 1.6× | 9.7% | +58.0% |
| Toho 9602.T | Japan | $9.44B | +22% | +4% | 16% | 4.0× | 7.9% | +13.4% |
| Liberty Live Holdings, Inc. Registered Series -A- LLYVA | United States | $9.64B | +9% | n/a | -13% | 29.5× | n/a | n/a |
| Genting Singapore G13.SI | Singapore | $5.76B | -10% | +2% | 15% | 1.8× | -5.0% | +18.2% |
| Beijing Enlight Media 300251.SZ | China | $5.49B | -16% | -71% | -57% | 31.8× | n/a | n/a |
| Benefit Systems BFT.WA | Poland | $5.18B | +54% | +40% | 19% | 4.3× | 13.4% | +34.3% |
| Cinemark CNK | United States | $4.51B | +44% | +13% | 15% | 1.9× | 2.4% | +35.3% |
| China Film 600977.SS | China | $4.48B | +16% | 0% | -9% | 4.4× | -7.1% | +10.4% |
| Lionsgate Studios LION | United States | $4.24B | +16% | -8% | 6% | 2.7× | 18.6% | -8.0% |
| Toei Animation 4816.T | Japan | $4.17B | +23% | -2% | 31% | 5.9× | 0.5% | +12.7% |
| Manchester United MANU | United States | $3.90B | +15% | +5% | -2% | 5.2× | 18.3% | +6.5% |
| Banijay BNJ.AS | Netherlands | $3.83B | -13% | +7% | 14% | 1.8× | -4.5% | +18.1% |
| Madison Square Garden Entertainment MSGE | United States | $3.65B | +18% | +16% | 17% | 4.1× | 5.0% | +66.9% |
| Atlanta Braves BATRA | United States | $3.23B | +1% | +6% | -9% | 5.3× | n/a | n/a |
| Itv ITV.L | United Kingdom | $3.23B | -16% | +2% | 13% | 0.9× | -2.8% | +4.8% |
| Ruyi Film Entertainment 002739.SZ | China | $2.94B | -9% | -8% | 3% | 2.3× | 6.7% | +15.4% |
| AMC Entertainment AMC | United States | $2.80B | +109% | +6% | 5% | 1.9× | n/a | n/a |
MSG Knickerbockers reported $617M of remaining performance obligations at 30 Sep 2026, up 24% from a year earlier and up 8% from the previous quarter. That is 0.5 years of trailing revenue already under contract. Book-to-bill last quarter: 1.97.