How do you interpret operating segments — adjusted operating income loss?

An increase indicates improved operational efficiency and stronger core earnings power, while a decrease suggests margin compression or rising operational costs.

How does operating segments — adjusted operating income loss compare across companies?

Commonly referred to as Segment EBITDA or Adjusted EBITDA in peer sports and entertainment companies.

Madison Square Garden Sports MSGS Operating Segments — Adjusted Operating Income Loss

Discontinued — last reported Q4 '18

Similar metrics at other companies

EQHOperating Segments — Adjusted Operating Income Loss

$540M+62.7%

FTAIOperating Segments — Adjusted Net Income Loss

$18.62M+20.6%

GISOperating Segments — Operating Income

$840.6M+8.7%

IRMOperating Segments — Adjusted Operating Income Loss Before Depreciation And Amortization

$271.82M+18.2%

MGMOperating Segments — Adjusted Earnings Before Interest Taxes Depreciation And Amortization

$768.12M-3.1%

WMGOperating Segments — Operating Income

$121M+10.0%

Other financials

Income statement

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Revenue$432.2M+1.9%

Operating income$2.0M-93.9%

Net income-$20.0M-40.5%

EPS (diluted)-$0.83-40.7%

Balance sheet

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Cash & equivalents$107.0M+10.9%

Total debt$1.2B-1.9%

Total equity-$295.5M-4.2%

Total assets$1.5B+0.3%

Cash flow

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Operating cash flow$57.5M+818%

CapEx$143.0K-93.9%

Free cash flow$57.4M+1,369%

Valuation

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Market cap$8.91B+65.5%

Enterprise value$9.97B+52.5%

P/S8.3×+3.2×

Profitability

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Operating margin8.4%—

Net margin-2.1%-2.5pp

FCF margin2.8%—

Returns & leverage

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Return on equity-6.8%—

Debt / equity0.2×—

Current ratio0.5×-0.1×

Where this comes from

Reported directly by Madison Square Garden Sports in its filing.

Tagged under the XBRL concept msg:AdjustedOperatingIncomeLoss.

The official record: Madison Square Garden Sports’s 10-K, filed August 17, 2018, on SEC EDGAR. View the filing →

Questions, answered.

What does operating segments — adjusted operating income loss mean?: A measure of core segment profitability excluding non-cash expenses.
How do you interpret operating segments — adjusted operating income loss?: An increase indicates improved operational efficiency and stronger core earnings power, while a decrease suggests margin compression or rising operational costs.
How does operating segments — adjusted operating income loss compare across companies?: Commonly referred to as Segment EBITDA or Adjusted EBITDA in peer sports and entertainment companies.