Madison Square Garden Entertainment Corp (MSGE) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Madison Square Garden Entertainment Corp $47.29, price $78.49, upside -39.8%, quality 54 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
41‑month range $28.38 – $88.42 · fair‑value band $30.10 – $62.66 · the $78.49 price screens above the $47.29 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 23, 2026.
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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.
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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.
Stock analysis
Madison Square Garden Entertainment Corp (MSGE) currently trades at $78.49, while our model-based Fair Value estimate is $47.29, implying the stock looks roughly 66.0% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $67.54 per share, and 3 of the 21 models we run sit above the $78.49 price.
Bear case: the Multiples group reads lowest at $30.19, and 18 of the 21 models stay below the price. Evidence for this calculation is medium.
Scenario range: $30.10 (bear) to $62.66 (bull), the price of $78.49 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 54/100 (solid quality), in the Communication Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Madison Square Garden Entertainment Corp reported revenue of $943M in FY2025 versus $81.8M in FY2021, a compound +84.2%/yr. Reported net income was $37.4M in FY2025.
Key figures
Market cap $3.8B · P/E ratio 73.1 · P/S ratio 2.90 · EPS (TTM) $1.03 · Net margin 4.0% · Return on equity 170% · Return on assets (EBIT) 1.7% · Operating margin 10.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).
What moves the price
The share trades about 11% below its 52-week high and 88% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at −3% fair-value upside, at −40%, MSGE screens richer than that median.
Fair Value models
Bear $30.10Fair Value $47.29Bull $62.66
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 12 months old). Earnings retained since then ($1.03 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.72/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−1.7%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+13.0%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+10.0%
Start year 2020 (pandemic)
Revenue growth 8 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.6%
’17
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’22
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’25
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
−33.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−33.0%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.39% → 14%
⚠ Revenue per share shrinking 11.7%/yr over ~6Y (margin trend unclear) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+22.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+7.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +19.4% a year for the price and +4.7% for the forecasts.
Compare Madison Square Garden Entertainment Corp with another stock
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Entertainment · 263 stocks
Beats the industry median on 4/10 measures
A mixed picture versus its industry peers.
Valuation
Quality Score52 · Above median
Fair Value upside−40% · Below median
Profitability
Return on equity (TTM)Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets5% · Top 25%
Net margin (TTM)5% · Above median
Operating margin (TTM)10% · Above median
Growth and dividend
Revenue growth2% · Below median
Balance sheet
Debt / equityNegative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Valuation Multiplesvs Entertainment median · lower = cheaper
P/E (TTM)73.1× · Priciest 25%
P/BNegative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/S (TTM)3.72× · Priciest 25%
P/FCF40.8× · Priciest 25%
EV/EBITDA21.0× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 31
FUTURE (revenue growth)8· sector 11
PAST (return on equity)0· sector 5
HEALTH (low debt)0· sector 97
DIVIDEND (yield)0· sector 44
VALUE 0: the price sits above our fair-value range.
PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Madison Square Garden Entertainment Corp Fair Value". https://www.fairvalue-calculator.com/stock/MSGE
Frequently asked questions
Is Madison Square Garden Entertainment Corp (MSGE) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of $47.29 versus a price of $78.49, about −40% upside (overvalued).
What is the fair value of MSGE?
Our model-based fair value for Madison Square Garden Entertainment Corp is $47.29 (as of Sep 23, 2026), built from audited fundamentals. The current price: $78.49.
What is the quality score of MSGE?
Madison Square Garden Entertainment Corp has a Quality Score of 54/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Madison Square Garden Entertainment Corp (MSGE)?
Our model-based price target is the fair value of $47.29 (as of Sep 23, 2026) from 21 valuation models. Cautious scenario $30.10, optimistic scenario $62.66. It is a calculation from audited fundamentals, not an analyst target.
What is the Madison Square Garden Entertainment Corp stock forecast for 2026?
Our models put fair value at $47.29, about −40% upside versus a price of $78.49 (overvalued). Cautious scenario $30.10, optimistic scenario $62.66. The calculation is refreshed regularly with new filings.
What is the revenue of Madison Square Garden Entertainment Corp (MSGE)?
Madison Square Garden Entertainment Corp reported trailing-twelve-month revenue of about $1.0B (latest available figure, as of Sep 23, 2026).
What growth is priced into Madison Square Garden Entertainment Corp (MSGE)?
For today's price to be fair in a discounted-cash-flow model, Madison Square Garden Entertainment Corp would have to grow free cash flow by +22.2 % per year for five years (discount rate 8.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +10.0 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of MSGE use?
Our models discount Madison Square Garden Entertainment Corp at 8.6 %: a base by market capitalisation (mid), damped by beta 0.55, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Madison Square Garden Entertainment Corp that is +22.2 % per year a year over ten years, using the same discount rate (8.6 %) and the same formula as our fair value.
How much growth has Madison Square Garden Entertainment Corp (MSGE) delivered so far?
Over the past 5 years revenue at Madison Square Garden Entertainment Corp grew +10.0 % a year. The price currently implies +22.2 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Madison Square Garden Entertainment Corp (MSGE) growing?
The median revenue growth in the sector is +1.6 % a year. That is the yardstick for the growth priced into Madison Square Garden Entertainment Corp (+22.2 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Madison Square Garden Entertainment Corp (MSGE)?
The free-cash-flow yield on the price is 2.45 %: that much free cash flow Madison Square Garden Entertainment Corp produces per unit of market value. When it exceeds the discount rate of our models (8.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Madison Square Garden Entertainment Corp (MSGE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Madison Square Garden Entertainment Corp it is $47.29 per share (as of Sep 23, 2026), against a price of $78.49. It is the blended result of 21 valuation models (cash flow, earnings, asset, dividend).
Is Madison Square Garden Entertainment Corp stock overvalued or undervalued in 2026?
As of Sep 23, 2026, MSGE trades above its calculated fair value: price $78.49, fair value $47.29, a gap of about −40% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of MSGE?
No. The price is what the market pays today ($78.49); the fair value is what the company's own numbers justify ($47.29). For Madison Square Garden Entertainment Corp the two are $31.20 per share apart. That gap is exactly why we show both numbers side by side.
How much is Madison Square Garden Entertainment Corp worth?
The market values Madison Square Garden Entertainment Corp at about $3.8B (market capitalisation, as of Sep 23, 2026). Per share that is $78.49; our models calculate a fair value of $47.29 per share.
What do the bullish and bearish scenarios say about MSGE?
Our models span a range for Madison Square Garden Entertainment Corp: cautious scenario $30.10, base $47.29, optimistic $62.66 per share (as of Sep 23, 2026, price $78.49). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MSGE?
Madison Square Garden Entertainment Corp trades at a price-to-earnings ratio of 73.1 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $47.29 is built from several models across several years. Other multiples: P/S 3.7, EV/EBITDA 21.0.
How solid is the balance sheet of Madison Square Garden Entertainment Corp (MSGE)?
Balance-sheet figures for Madison Square Garden Entertainment Corp (as of Sep 23, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is MSGE from its 52-week high?
Madison Square Garden Entertainment Corp trades at $78.49, about 11% below its 52-week high of $88.42 and 88% above the low of $41.77 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $47.29 is for.
Which stocks are comparable to Madison Square Garden Entertainment Corp?
From the same area (Communication Services) we also value Netflix, Inc, The Walt Disney Company, Warner Bros. Discovery, Inc, Live Nation Entertainment, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Madison Square Garden Entertainment Corp stock attractive at the current price?
The data as of Sep 23, 2026: price $78.49, calculated fair value $47.29 (−40%), Quality Score 54/100, from 21 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of MSGE calculated?
We run Madison Square Garden Entertainment Corp through 21 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $47.29, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Madison Square Garden Entertainment Corp itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Madison Square Garden Entertainment Corp (MSGE)?
The closing price on Sep 23, 2026 was $78.49. Our model-based fair value is $47.29, about −40% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Madison Square Garden Entertainment Corp right now?
The price sits above even our optimistic bull case ($62.66). The favourable scenario is already priced in. Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range ($30.10 to $62.66) leaves room in how you read the outcome.
Key figures of Madison Square Garden Entertainment Corp
How large is the market capitalisation of Madison Square Garden Entertainment Corp (MSGE)?
The market capitalisation of Madison Square Garden Entertainment Corp is $3.8B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Madison Square Garden Entertainment Corp (MSGE)?
The price-to-sales ratio of Madison Square Garden Entertainment Corp is 2.90 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Madison Square Garden Entertainment Corp (MSGE)?
Earnings per share at Madison Square Garden Entertainment Corp are $1.03 (price ÷ EPS = P/E 73.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Madison Square Garden Entertainment Corp (MSGE)?
The net margin of Madison Square Garden Entertainment Corp is 4.0% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Madison Square Garden Entertainment Corp (MSGE)?
The return on equity (ROE) of Madison Square Garden Entertainment Corp is 170% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Madison Square Garden Entertainment Corp (MSGE)?
On an EBIT basis the return on assets of Madison Square Garden Entertainment Corp is 1.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Madison Square Garden Entertainment Corp (MSGE)?
The operating margin of Madison Square Garden Entertainment Corp is 10.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Madison Square Garden Entertainment Corp (MSGE)?
Revenue at Madison Square Garden Entertainment Corp is growing +1.6% versus a year earlier (3y avg +13.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Madison Square Garden Entertainment Corp (MSGE)?
Earnings per share at Madison Square Garden Entertainment Corp are growing −35.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Madison Square Garden Entertainment Corp (MSGE) carry?
The net debt of Madison Square Garden Entertainment Corp is $1.2B (fiscal year 2025, ≈ 12.4 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Sep 23, 2026