What changed
$MSGS — BUY 📊
Madison Square Garden Sports Corp. operates as a professional sports company in the United States.
🎯 Q2 2026 | Rev $0B | EPS $-0.83 vs $0.52 🔴
💡 Consensus fixates on quarterly EPS volatility, but the variant view is that team values (Knicks ~$8B, Rangers ~$3B) far exceed the market cap after adjusting for net debt, and the earnings miss was driven by temporary cost items, not structural decline. The market underestimates the earnings inflection from the 2025–26 NBA media deal.
📉 Reward/risk: 2.4:1
🏢 Business Quality: 8 — Elite sports franchises with enduring brand, league-imposed scarcity, and recession-resistant demand, though earnings are cyclical and capital allocation is constrained by league rules./10
📊 Valuation: cheap — P/B (adjusted for team values) ~0.9x vs. peer transactions at 1.2–1.5x; EV/Teams ~0.8x vs.
📊 Our read: BUY. Full analysis →
https://stockduty.xyz/s/MSGS0624