MSG Knickerbockers MSGK
NYSE · Services-Miscellaneous Amusement & Recreation · $7.8B$317.35−2.35%Nov 5 close · Databento
MSGK Wire Story Reactions & EOD Technical StudyDaily closes (Databento EOD) pinned with every AlgoThesis Wire story (dot colour = next trading day close) and SEC filing
Nov 5, 2026CLOSE $317.351D −2.35%1M +3.91%
317.35
RSI (14, Wilder EOD) · 70 Overbought / 30 Oversold—
Data provided by Databento (end of day). Next close = the first close after a story against the close before it; official daily closes only, not a call, not advice.
The numbers
fiscal 2026, as filed with the SEC · 66-metric EOD snapshot via DatabentoMarket cap$7.8B
EV / True FCF199.1x
Revenue$1.2B +11.0%
True FCF (ex-SBC)$39.7M −30.4%
Rule of 4016.3%
Operating margin2.5%
True FCF Yield0.5%
EPS, diluted$0.32 +134.4%
Modern Valuation (EOD)
Market Cap$7.8B
Enterprise Value$7.9B
EV / True FCF199.11
EV / FCF129.15
EV / Gross Profit—
EV / EBIT274.04
EV / Sales6.86
P / E (GAAP)1008.98
P / FCF127.80
P / Oper. CF124.93
P / Book—
Owner & Cash Yields
True FCF Yield0.5%
FCF Yield0.8%
Owner Earn. Yield-0.2%
Earnings Yield0.1%
Shareholder Yield−0.3%
Buyback Yield0.0%
Dividend Yield2.21%
Dividend / sh$7.00
Payout Ratio6%
FCF / sh—
EPS (diluted)$0.32
Compounder & Returns
Rule of 4016.3%
ROIC—
Cash ROIC (CROIC)—
GP / Assets—
ROE-2.9%
ROA0.5%
Gross Margin—
Oper. Margin2.5%
Net Margin0.7%
FCF Margin5.3%
True FCF Margin3.4%
Quality & Dilution
Cash Conversion790%
Accrual Ratio−3.6%
SBC % of FCF35.1%
SBC % of Rev1.9%
Reinvest. Rate2%
Sales Growth Y/Y+11.0%
Sales 3Y CAGR+9.1%
EPS Growth Y/Y+134.4%
FCF Growth Y/Y−30.4%
FCF 3Y CAGR−26.0%
Share Change Y/Y+0.7%
Balance Sheet & Scale
Revenue (FY)$1.2B
Gross Profit (FY)—
Oper. Income (FY)$28.9M
GAAP Net Income$7.8M
True FCF (ex-SBC)$39.7M
Cash & Equiv$164.5M
Total Debt$246.8M
Net Cash (Debt)$-82.3M
Net Cash % MCap−1.1%
Debt / FCF (yrs)4.0y
Current Ratio0.50
Price & Technicals (EOD)
Perf Week+2.31%
Perf Month—
Perf Quarter—
Perf Half Y—
Perf YTD—
SMA 20 Dist—
SMA 50 Dist—
SMA 100 Dist—
Window High−2.35%$324.99
Window Low+5.67%$300.32
RSI (14) · Vol—
Income Distribution & Cash Flow ConversionHow every dollar of MSGK revenue flows through cost of goods, operating expenses, taxes, GAAP net income, and dilution-adjusted free cash flow
Where Every $100 of Revenue Goes (FY2026)
Cost of Revenue (COGS)$0 ($0.0 / $100)
SG&A & Other OpEx$1.1B ($97.5 / $100)
Tax & Non-Operating$21.1M ($1.8 / $100)
Net Profit Kept$7.8M ($0.7 / $100)
Earnings Quality: GAAP Profit → True Owner Cash (FY2026)
GAAP Net Income$7.8M (0.7% margin)
Operating Cash Flow (OCF)$62.7M(5.4% of rev)
Less: Capital Expenditures−$1.4M(0.1% of rev)
Standard Free Cash Flow (FCF)$61.3M(5.3% margin)
Less: Stock-Based Comp (SBC)−$21.5M(35.1% of FCF)
True FCF (Owner Cash ex-SBC)$39.7M(3.4% of rev)
Revenue by fiscal year
Operating leverage — margins
GrossOperatingNet
| Line Item (USD) | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | YoY Δ | 4Y CAGR | Trend |
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | $821.4M | $887.4M | $1.0B | $1.0B | $1.2B | +11.0% | +8.9% | |
| Selling, General & Admin (SG&A) | $229.7M | $249.9M | $261.4M | $266.1M | $286.0M | +7.5% | +5.6% | |
| Operating Income (EBIT) | $86.1M | $85.2M | $146.0M | $14.8M | $28.9M | +94.9% | −23.9% | |
| Interest Expense | $11.7M | $22.9M | $27.6M | $21.7M | $21.1M | −2.6% | +15.8% | |
| Income Tax Expense | $25.1M | $44.3M | $46.9M | $5.2M | $10.2M | +97.9% | −20.1% | |
| GAAP Net Income | $48.9M | $45.6M | $58.8M | $-22.4M | $7.8M | +134.6% | −36.9% | |
| Diluted EPS | $2.10 | $1.89 | $2.44 | $-0.93 | $0.32 | +134.4% | −37.5% | |
| Diluted Shares | 24.4M | 24.2M | 24.1M | 24.1M | 24.3M | +0.7% | −0.2% | |
| Balance Sheet | ||||||||
| Cash & Equivalents | $91.0M | $40.5M | $94.9M | $153.2M | $164.5M | +7.4% | +15.9% | |
| Inventory | $14.9M | $14.9M | $14.9M | $14.9M | $10.4M | −30.0% | −8.5% | |
| Total Current Assets | $205.3M | $149.2M | $216.9M | $251.1M | $323.3M | +28.8% | +12.0% | |
| Total Assets | $1.3B | $1.3B | $1.3B | $1.5B | $1.5B | +4.4% | +4.2% | |
| Total Current Liabilities | $438.3M | $520.5M | $522.0M | $563.5M | $642.4M | +14.0% | +10.0% | |
| Total Debt (Short + Long Term) | $224.8M | $299.8M | $279.8M | $271.8M | $246.8M | −9.2% | +2.4% | |
| Total Liabilities | $1.4B | $1.7B | $1.6B | $1.8B | $1.8B | +2.7% | +5.6% | |
| Stockholders' Equity | $-145.4M | $-337.2M | $-266.3M | $-281.4M | $-263.3M | +6.4% | — | |
| Net Cash / (Net Debt) | $-133.8M | $-259.3M | $-184.9M | $-118.6M | $-82.3M | +30.6% | — | |
| Invested Capital | $-11.6M | $-77.9M | $-81.4M | $-162.8M | $-181.0M | −11.2% | — | |
| Cash Flow & Capital Allocation | ||||||||
| Operating Cash Flow (OCF) | $178.1M | $152.5M | $92.1M | $91.6M | $62.7M | −31.6% | −23.0% | |
| Depreciation & Amortization (D&A) | $5.0M | $3.6M | $3.2M | $3.2M | $3.2M | −1.2% | −10.9% | |
| Stock-Based Compensation (SBC) | $24.2M | $25.2M | $21.3M | $17.9M | $21.5M | +20.0% | −2.9% | |
| Capital Expenditures (CapEx) | $932,000 | $1.2M | $1.5M | $3.6M | $1.4M | −61.1% | +10.8% | |
| Free Cash Flow (FCF) | $177.1M | $151.3M | $90.7M | $88.0M | $61.3M | −30.4% | −23.3% | |
| True FCF (ex-SBC Owner Cash) | $152.9M | $126.1M | $69.4M | $70.1M | $39.7M | −43.3% | −28.6% | |
| Share Repurchases (Buybacks) | — | — | — | — | $0 | — | — | |
| Dividends Paid | $0 | $170.9M | $701,000 | $633,000 | $472,000 | −25.4% | — | |
Fundamentals, income distribution and multi-year statements from SEC EDGAR filings (public domain). Valuation multiples, performance and technicals computed from Databento 1D EOD closes. For information only, not investment advice.
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