MSG Knickerbockers Corp. Class A (MSGK) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-93.1%

$21.47

vs $309.75 price

Levered DCF

$108.34

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

2.95

Grey zone

Rating

C-

Overall 1 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	945.59×	-169.18×	59.13×	74.53×	53.89×	-224.05×	-14.52×	217.69×
P/B	-27.76×	-13.47×	-13.06×	-10.12×	-18.74×	-15.35×	-12.79×	0.95×
P/S	6.33×	3.65×	3.39×	3.84×	3.36×	7.54×	4.39×	3.4×
EV / EBITDA	196.18×	634.59×	32.91×	38.6×	40.34×	-57.14×	-47.68×	-69.04×
Gross margin	27.7%	27.0%	39.7%	37.8%	38.4%	30.9%	37.4%	36.9%
Operating margin	2.5%	1.4%	14.2%	9.6%	10.5%	-18.8%	-15.3%	-8.0%
Net margin	0.7%	-2.2%	5.7%	5.4%	6.2%	-3.4%	-30.2%	1.6%
Current ratio	0.5×	0.44×	0.41×	0.28×	0.47×	0.5×	0.44×	1.86×
Debt / equity	-4.34×	-4.21×	-4.15×	-3.32×	-6.75×	-5.47×	-5.16×	0×
Interest coverage	1.37×	0.68×	5.29×	3.72×	7.34×	-7.41×	-20.68×	-11.71×
Dividend yield	0.0%	0.0%	0.0%	5.0%	0.0%	0.0%	31.2%	0.0%
Payout ratio	6.1%	-2.8%	1.2%	357.6%	0.0%	0.0%	-453.5%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-2.9%	8.0%	-22.1%	-14.2%	-34.8%	6.8%	88.1%	0.4%
Return on invested capital	1.3%	1.4%	8.1%	4.5%	5.5%	-1.2%	-8.9%	-1.5%
Return on assets	0.5%	-1.4%	4.1%	3.4%	3.7%	-1.0%	-14.1%	0.3%
Free cash flow yield	0.8%	2.3%	2.6%	4.4%	6.4%	-1.1%	-13.6%	-1.1%
Earnings yield	0.1%	-0.6%	1.7%	1.4%	1.9%	-0.4%	-6.9%	0.5%
Enterprise value	$8.3B	$4.8B	$4.5B	$4.5B	$3.7B	$4.2B	$3.6B	$2.5B
Net debt / EBITDA	23.18×	135.76×	7.41×	9.29×	9.95×	-14.29×	-12.85×	0.73×
Cash conversion cycle (days)	20	8	19	21	25	55	-13	7