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Butler National vs MSG Rangers: BUKS and MSGR compared
Butler National is the larger company: $30.8M of revenue in its latest quarter (Q1 FY27) against $14.1M for MSG Rangers (Q1 FY27). Butler National is growing faster (+53% against +3% a year earlier). Butler National is more profitable, with an operating margin of 24.1% against -167.4%.
Where the money goes: BUKS and MSGR
Butler National (BUKS) · Q1 FY27
Butler National, Q1 FY27: revenue $30.8M (+53% year over year), operating margin 24.1%, net earnings $5.3M, operating cash flow $4.6M. The chart follows the revenue to costs, profit and cash.
MSG Rangers (MSGR) · Q1 FY27
MSG Rangers, Q1 FY27: revenue $14.1M (+3% year over year), operating margin -167.4%, net loss $16.9M, operating cash flow −$71.2M. The chart follows the revenue to costs, profit and cash.
| Butler National (BUKS) | MSG Rangers (MSGR) | |
|---|---|---|
| Latest quarter | Q1 FY27 | Q1 FY27 |
| Revenue | $30.8M | $14.1M |
| Revenue growth, Y/Y | +53% | +3% |
| Operating margin | 24.1% | -167.4% |
| Net earnings | $5.3M | −$16.9M |
| Net margin | 17.1% | -119.9% |
| Operating cash flow | $4.6M | −$71.2M |
| Free cash flow | $2.7M | — |
Where the revenue comes from
Butler National
- Aircraft Modification: $16.3M (53%)
- Gaming: $9.0M (29%)
- Special Mission Electronics: $4.9M (16%)
- Aircraft Avionics: $537K (2%)
MSG Rangers
- Event-related: $5.2M (37%)
- Sponsorship, signage and suite licenses: $4.1M (29%)
- League distributions and other: $3.0M (21%)
- Media rights: $1.8M (13%)
Questions
Which is bigger, Butler National or MSG Rangers?
Butler National is the larger company: $30.8M of revenue in its latest quarter (Q1 FY27) against $14.1M for MSG Rangers (Q1 FY27).
Is Butler National or MSG Rangers growing faster?
Butler National is growing faster (+53% against +3% a year earlier).
Which is more profitable, Butler National or MSG Rangers?
Butler National is more profitable, with an operating margin of 24.1% against -167.4%.
More: Butler National earnings · how Butler National makes money · MSG Rangers earnings · how MSG Rangers makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Sep 11, 2026; 10-Q filed Nov 6, 2026). Fiscal quarters can end on different dates. Not investment advice.