Madison Square Garden Entertainment Corp. (MSGE)
Communication Services · NYQ · US
Fundamentals
Valuation and ratings
Madison Square Garden Entertainment Corp. trades at USD74.02, which is 60% above the USD29.64 our discounted cash flow model puts on the business. On that measure it screens as expensive, which is not the same as saying it will fall.
Our moat model scores it 48 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 71.2 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
About Madison Square Garden Entertainment Corp.
Madison Square Garden Entertainment Corp., through its subsidiaries, engages in live entertainment business. The company produces, presents, and hosts live entertainment events, such as concerts, sporting events, family shows, family shows, performing arts events, and special events. It holds a portfolio of venues that include Madison Square Garden, The Theater at Madison Square Garden, Radio City Music Hall, the Beacon Theatre, and The Chicago Theatre. The company also owns and produces the original production, the Christmas Spectacular Starring the Radio City Rockettes. In addition, it engages in the entertainment and sports bookings business that showcase a range of concerts, family shows, and special events, as well as various sporting events. The company was formerly known as MSGE Spinco, Inc. Madison Square Garden Entertainment Corp. was incorporated in 2022 and is based in New York, New York.
Smart money ownership
10 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- John Rogers, ARIEL INVESTMENTS, LLC$719.36M · 4.3% of book
- Josh Resnick, Jericho Capital Asset Management L.P.$215.77M · 3.2% of book
- Steve Cohen, Point72 Asset Management, L.P.$106.14M · 0.1% of book
- Israel Englander, MILLENNIUM MANAGEMENT LLC$22.85M · 0.0% of book
- D. E. Shaw, D. E. Shaw & Co., Inc.$18.67M · 0.0% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is Madison Square Garden Entertainment Corp. (MSGE) undervalued?
Against our discounted cash flow estimate of USD29.64, MSGE at USD74.02 is 60% above fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own MSGE?
10 of the institutions we track reported a position in MSGE in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is MSGE's P/E ratio?
MSGE trades at 71.2 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
The full research page for MSGE, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.