MSGE Madison Square Garden Entertainment Corp.
FY2025 10-K
Madison Square Garden Entertainment Corp. (MSGE) filed its fiscal year 2025 10-K annual report with the SEC on Aug 13, 2025. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.
AI Filing AnalysisFY2025 10-K
Business Overview
- • Core business: Ownership and management of iconic live entertainment venues and marquee content, primarily in New York and Chicago
- • New emphasis on digital and data utilization to improve guest experience, ticketing, and targeted marketing leveraging a proprietary customer database
Management Discussion & Analysis
- • Revenue $943M, down 2% YoY from $959M; entertainment offerings declined $11.6M (2%), food/beverage/merchandise down $11.6M (7%), arena license fees up $6.7M (9%)
- • Operating income $122.1M, up 9% YoY from $111.9M; operating margin 12.9% vs 11.7% (based on operating income/total revenue)
Risk Factors
- • New York City real estate tax exemption $43M for FY 2025 under legislative agreement faces risk of repeal or amendment
- • Geographic concentration: 100% venues in NYC, exposed to adverse local events including pandemics and terrorism
Financial SummaryXBRL
Revenue
$863M
Net Income
$37M
Operating Margin
14.2%
Net Margin
4.3%
ROE
-281.4%
Total Assets
$1.7B
EPS (Diluted)
$0.77
Operating Cash Flow
$115M
Source: XBRL data from Madison Square Garden Entertainment Corp. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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