MSG Knickerbockers (MSGS) FY2024 results: revenue $1.0 billion, up 15.7% on the year

MSG Knickerbockers Corp. (MSGS) reported revenue of $1.0 billion for fiscal 2024, the year ended 30 June 2024, up 15.7% on the year before. Net income was $59 million, up 23.0%, and diluted earnings per share $2.44. The figures are the company's own, from the 10-K it filed with the SEC on 13 August 2024.

Revenue

$1.0 billion

+15.7% on the year

FY2017FY2024

Operating margin

14.2%

9.6% a year earlier

FY2017FY2024

Net income

$59 million

+23.0% on the year

FY2017FY2024

Diluted EPS

$2.44

+29.1% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	1,027	887	821	+15.7%
Selling, general and administrative	261	250	230	+4.6%
Operating income	146	85.2	86.1	+71.5%
Operating margin	14.2%	9.6%	10.5%
Interest expense	27.6	22.9	11.7	+20.6%
Pre-tax income	106	89.9	73.9	+17.5%
Income tax	46.9	44.3	25.1	+5.9%
Effective tax rate	44.4%	49.3%	33.9%
Net income	58.8	47.8	51.1	+23.0%
Net margin	5.7%	5.4%	6.2%
Diluted EPS	$2.44	$1.89	$2.10	+29.1%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	92.1	152	178	-39.6%
Capital expenditure	1.5	1.2	0.9	+22.9%
Free cash flow	90.7	151	177	-40.1%
Free cash flow margin	8.8%	17.0%	21.6%
Cash from investing	-8.9	-17.8	-2.9
Cash from financing	-28.8	-185	-156
Depreciation and amortisation	3.2	3.6	5.0	-11.5%
Share-based compensation	21.3	25.2	24.2	-15.5%
Dividends paid	0.7	171	0.0	-99.6%
Dividend per share	$7.00	$7.00	n/a	0.0%
Diluted shares, weighted	24m	24m	24m	-0.4%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	-266	-337	-147
Non-controlling interest	n/a	0.0	1.7
Debt	305	325	250	-6.2%
Operating lease liabilities	750	746	700	+0.5%
Other liabilities	558	581	498	-4.0%
Total liabilities and equity	1,346	1,315	1,302	+2.4%
Fixed assets	28.5	30.5	32.9	-6.4%
Goodwill	227	227	227	0.0%
Intangible assets	0.0	0.0	0.6
Cash and equivalents	89.1	40.4	91.0	+120.6%
Receivables	n/a	n/a	47.2
Other assets	1,002	1,018	903	-1.5%
Total assets	1,346	1,315	1,302	+2.4%

10-K for the year ended 30 June 2024, filed 13 August 2024: the filing.