MSGE
Madison Square Garden Entertainment Corp.
MSGE's fundamentals are strong: revenue grew 24% and it turned 26% of its revenue into free cash flow. At 39x earnings, it's trading below its usual 52x. Analysts expect that strong growth to continue, though they disagree widely on how much.
NBIS
Nebius Group N.V.
There isn't enough reported data to score NBIS yet.
MSGE Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Healthy |
MSGE's revenue, profitability, cash flow and balance sheet are all currently healthy.
NBIS Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Healthy | |
| Unavailable | |
| Healthy |
NBIS's profitability and balance sheet are currently healthy. There isn't enough data to rate its revenue and cash flow.
MSGE PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 13x | $26.77 | -66% |
| Forward | 33x | $78.80 | — |
| Current | 39x | $78.80 | — |
| Fair | 52x | $105 | +33% |
| Expensive | 69x | $139 | +77% |
Historical ranges are pointers, not guarantees.
MSGE has the edge over NBIS in the historical PE scenario, which offers more potential upside but is not a forecast.
NBIS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 68x | $22.45 | -83% |
| Fair | 114x | $37.67 | -71% |
| Current | 390x | $129 | — |
| Expensive | 666x | $220 | +71% |
Historical ranges are pointers, not guarantees.
NBIS's PE is 390x, but its earnings don't support one, so it isn't a reliable read right now.
MSGE Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| Low |
MSGE has the edge over NBIS on the outlook, with more favorable earnings expectations.
NBIS Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses steady | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect NBIS's revenue to grow and its profitability to improve, with its earnings holding steady. However, they disagree widely on these estimates.
MSGE Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.40 | +18% |
| Q3 2026 | $2.03 | +186% |
| Q2 2026 | $1.38 | +79% |
| Q1 2026 | $1.03 | -61% |
| Q4 2025 | $1.09 | -57% |
| Q3 2025 | $0.71 | -80% |
| Q2 2025 | $0.77 | -74% |
| Q3 2021 | -$15.88 | -$15.48 |
| Q2 2021 | -$17.02 | -1873% |
MSGE has the edge over NBIS in the latest year-over-year earnings comparison.
NBIS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q4 2025 | $0.33 | +$2.61 |
| Q4 2024 | -$2.28 | -456% |
| Q4 2023 | $0.64 | -36% |
| Q4 2022 | $1.00 | +$1.49 |
| Q4 2021 | -$0.49 | -156% |
| Q4 2020 | $0.87 | +89% |
| Q4 2019 | $0.46 | -73% |
| Q4 2018 | $1.71 | +434% |
NBIS has returned to profit: it earned $0.33 per share over the past year, after losing money the year before.
MSGE Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $217.1M | +37% |
| Q2 2026 | $271.1M | +76% |
| Q1 2026 | $246.3M | +1.6% |
| Q4 2025 | $459.9M | +13% |
| Q3 2025 | $158.3M | +14% |
| Q2 2025 | $154.1M | -17% |
| Q1 2025 | $242.5M | +6.2% |
| Q4 2024 | $407.4M | +1.2% |
MSGE has the edge over NBIS in the latest year-over-year revenue comparison.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 4.5% | +23 points |
| Q2 2026 | -3.2% | +14 points |
| Q1 2026 | 6.5% | -4.7 points |
| Q4 2025 | 36% | +1.5 points |
| Q3 2025 | -19% | -5.5 points |
| Q2 2025 | -17% | -12 points |
| Q1 2025 | 11% | +3.9 points |
| Q4 2024 | 34% | 0 points |
MSGE's operating margin was 4.5% last quarter, up 23 points from the same quarter a year ago.
NBIS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q4 2023 | $9.7B | +53% |
| Q4 2022 | $6.3B | +46% |
| Q4 2021 | $4.3B | +63% |
| Q4 2020 | $2.6B | +24% |
| Q4 2019 | $2.1B | +37% |
| Q4 2018 | $1.5B | +36% |
| Q4 2017 | $1.1B | +24% |
| Q4 2016 | $917M | +27% |
NBIS's revenue is growing: $530M last quarter, down 80% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q4 2025 | -115% | -112 points |
| Q4 2023 | 3.6% | -11 points |
| Q4 2022 | 2.5% | -14 points |
| Q4 2021 | -3.7% | -18 points |
| Q4 2020 | 7.4% | -9.5 points |
| Q4 2019 | 14% | -2 points |
| Q4 2018 | 16% | -14 points |
| Q4 2017 | 14% | -19 points |
NBIS's operating margin was −115% last quarter, down 123 points from the same quarter a year ago, near the bottom of its range since 2011.
MSGE Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$26.2M | -232% |
| Q2 2026 | -$16.6M | +$10.4M |
| Q1 2026 | $183.9M | +224% |
| Q4 2025 | $164.4M | +46% |
| Q3 2025 | $19.8M | +$47.2M |
| Q2 2025 | -$27M | -12841% |
| Q1 2025 | $56.8M | +876% |
| Q4 2024 | $112.9M | +8.7% |
MSGE usually generates cash, though not every quarter: the latest was −$26M, but it generated $305M over the past year.
NBIS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q4 2025 | -$3.7B | -$3.1B |
| Q4 2024 | -$562.1M | -$316.2M |
| Q4 2023 | -$245.9M | -$138.9M |
| Q4 2022 | -$107M | +$319.7M |
| Q4 2021 | -$426.7M | -539% |
| Q4 2020 | $97.3M | -66% |
| Q4 2019 | $287.9M | +$289.2M |
| Q4 2018 | -$1.3M | -101% |
NBIS has burned cash in six of the last eight quarters: −$4.6B over the past year, against −$43M the year before.
MSGE Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -3K shares |
| 1 year | +1.1% | +517K shares |
| 3 years | -4.8% | -2.4M shares |
| 5 years | +99% | +23.9M shares |
| Available history | +100% | +24M shares |
MSGE has 48M diluted shares, up 1.1% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $25M |
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | $25M |
| Q2 2025 | — |
| Q1 2025 | $14.7M |
| Q4 2024 | $25M |
MSGE spent $25M buying back its own shares over the past year, down 61% from the year before.
NBIS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -12% | -33.3M shares |
| 1 year | -32% | -115M shares |
| 3 years | -26% | -86.9M shares |
NBIS has the edge over MSGE on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2024 | $10M |
| Q4 2021 | $84.1M |
| Q4 2020 | $122.8M |
| Q4 2019 | $17.2M |
| Q4 2018 | $121.8M |
| Q4 2014 | $101.7M |
| Q4 2013 | $102.9M |
MSGE Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.6x | Healthy |
| Q2 2026 | 1.4x | Healthy |
| Q1 2026 | 1.4x | Healthy |
| Q4 2025 | 2.2x | Moderate |
| Q3 2025 | 3.5x | Elevated |
| Q2 2025 | 3.1x | Elevated |
| Q1 2025 | 2.7x | Moderate |
| Q4 2024 | 3.0x | Elevated |
MSGE's net debt is about 1.6 years of its operating earnings (EBITDA), down from 3.5 years a year ago.
NBIS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q4 2023 | 0.7x | Very low |
| Q4 2022 | -0.7x | Net Cash |
NBIS's net debt is less than a year of its operating earnings (EBITDA).
MSGE Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 56.9 | Neutral |
| Stochastic | 27.7 | Neutral |
MSGE's weekly RSI is 57 (neutral) and its Stochastic is 28 (neutral).
NBIS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 38.0 | Neutral |
| Stochastic | 8.3 | Oversold |
NBIS's weekly RSI is 38 (neutral) and its Stochastic is 8 (oversold).
MSGE PE vs Communication Services Sector
| Metric | MSGE | Sector median | Relative |
|---|---|---|---|
| PE | 39x | 16x | 135% above |
| PE % | 45 | 25 | 20 pts above |
MSGE has the edge over NBIS on valuation relative to its sector.
NBIS PE vs Communication Services Sector
| Metric | NBIS | Sector median | Relative |
|---|---|---|---|
| PE | 390x | 16x | 2,264% above |
| PE % | 62 | 24 | 38 pts above |
NBIS is trading at 390x earnings, a 2264% premium to the Communication Services sector's median of 16x, though its earnings don't support one.
MSGE Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $79.0 | 0.2% below |
| 20 week MA | $78.4 | 0.5% above |
| 50 week MA | $68.8 | 15% above |
| 100 week MA | $53.6 | 47% above |
MSGE has stronger trend alignment. MSGE is above 3 of 4 weekly averages versus NBIS above 1 of 4.
NBIS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $179.7 | 28% below |
| 20 week MA | $199.9 | 36% below |
| 50 week MA | $163.5 | 21% below |
| 100 week MA | $110.0 | 17% above |
NBIS has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 17% above its 100-week average.
MSGE Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2023 | $59.0 | $31.8 | -46% |
| 2024 | $31.8 | $33.3 | +4.6% |
| 2025 | $33.3 | $54.0 | +62% |
| 2026 YTD | $54.0 | $78.8 | +46% |
MSGE has finished higher in two of the last three years. It's up 46% so far in 2026.
NBIS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2024 | $19.6 | $27.3 | +40% |
| 2025 | $27.3 | $87.6 | +221% |
| 2026 YTD | $87.6 | $128.6 | +47% |
NBIS has the edge over MSGE on returns for 2026, with the stronger performance.