Is there any guidance on capital expenditures or new venue development for FY2026?

Answer:

The FY 2025 earnings release from Madison Square Garden Entertainment (MSG E) does not contain any forward‑looking guidance on capital‑expenditure plans or new‑venue development for FY 2026. The filing only recaps the 2025 performance (nearly 6 million guests, 975 events) and does not disclose budgeting, cap‑ex allocations, or any announced expansion projects beyond the current fiscal year.

Trading implications

• Information gap: The absence of FY 2026 cap‑ex or venue‑development guidance creates uncertainty around the company’s growth trajectory. Analysts and investors will likely price‑in a “wait‑and‑see” stance until MSG E issues a dedicated FY 2026 outlook or a capital‑budget update in a later filing (e.g., a Q1 2026 earnings call or a 2026‑year‑ahead investor presentation).
  
• Valuation focus: With no new‑venue spend disclosed, the market will continue to evaluate MSG E on the strength of its existing asset base and recurring cash‑flow generation. Current valuation metrics (e.g., EV/EBITDA, P/E) should be compared to peers that are actively expanding their venue footprints; a lack of expansion could be a relative downside if competitors are adding higher‑margin locations.
  
• Actionable stance: Until MSG E provides FY 2026 cap‑ex guidance, a neutral‑to‑defensive position is prudent. Consider holding the stock if you’re comfortable with the steady‑state cash‑flow profile, but avoid aggressive upside bets (e.g., buying on breakout expectations) until the company signals concrete growth‑capital plans. Keep an eye on upcoming quarterly releases, management commentary in conference calls, and any SEC filings that might outline FY 2026 capital‑budget or new‑venue initiatives.