MADISON SQUARE GARDEN ENTERTAINMENT CORP. vs Tencent Music Entertainment Group, two Entertainment stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
MSG Entertainment owns iconic venues, Madison Square Garden and Radio City; Tencent Music leads China's music-streaming market as an ADR. The digital platform keeps far more of each dollar, a 25.03% net margin against MSG's 4.81%, and carries no net debt. Both convert well to cash, though: an 8.83% free cash yield at MSG against a stronger 10.63% at Tencent. By market value the two are near each other, $3.9 billion at MSG and $12.9 billion at Tencent. MSG Entertainment is the physical landmark-venue business, Tencent Music the light, high-margin streaming operator in a different market.
Comparison updated 2026-07-11.
| Metric | MSGE | TME |
|---|---|---|
| Price | $74.13 | $8.89 |
| Market cap | $3.6B | $13.7B |
| Sector | Entertainment | Entertainment |
| Stage | Mature | Mature |
| Implied growth (priced in) | +19.1% | — |
| P/E | 72.0 | — |
| P/B | 74.33 | 1.43 |
| P/S | 3.50 | 3.50 |
| EV/EBITDA | 21.0 | 9.9 |
| Revenue growth | +2.9% | -0.5% |
| Gross margin | — | 42.3% |
| Operating margin | 6.5% | 30.7% |
| Net margin | 4.8% | 25.0% |
| Return on equity | 102.1% | 10.2% |
| Return on assets | 2.5% | 7.9% |
| Return on invested capital | 15.7% | 10.2% |
| FCF yield | 9.6% | 10.0% |
| Debt / equity | 12.04 | 0.00 |
| Current ratio | 0.72 | 2.09 |
| Altman Z (solvency) | 1.70 | 4.06 |
| Piotroski F (quality) | 6 / 9 | 7 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.