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MSG Knickerbockers vs Butler National: MSGK and BUKS compared
MSG Knickerbockers is the larger company: $45.5M of revenue in its latest quarter (Q1 FY27) against $30.8M for Butler National (Q1 FY27). Butler National is growing faster (+53% against +15% a year earlier). Butler National is more profitable, with an operating margin of 24.1% against -56.0%.
Where the money goes: MSGK and BUKS
MSG Knickerbockers (MSGK) · Q1 FY27
MSG Knickerbockers, Q1 FY27: revenue $45.5M (+15% year over year), operating margin -56.0%, net loss $31.1M, operating cash flow −$146M. The chart follows the revenue to costs, profit and cash.
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 Knickerbockers (MSGK) | Butler National (BUKS) | |
|---|---|---|
| Latest quarter | Q1 FY27 | Q1 FY27 |
| Revenue | $45.5M | $30.8M |
| Revenue growth, Y/Y | +15% | +53% |
| Operating margin | -56.0% | 24.1% |
| Net earnings | −$31.1M | $5.3M |
| Net margin | -68.4% | 17.1% |
| Operating cash flow | −$146M | $4.6M |
| Free cash flow | — | $2.7M |
Where the revenue comes from
MSG Knickerbockers
- League distributions and other: $28.1M (62%)
- Event-related: $6.8M (15%)
- Media rights: $5.4M (12%)
- Sponsorship, signage and suite licenses: $5.1M (11%)
Butler National
- Aircraft Modification: $16.3M (53%)
- Gaming: $9.0M (29%)
- Special Mission Electronics: $4.9M (16%)
- Aircraft Avionics: $537K (2%)
Questions
Which is bigger, MSG Knickerbockers or Butler National?
MSG Knickerbockers is the larger company: $45.5M of revenue in its latest quarter (Q1 FY27) against $30.8M for Butler National (Q1 FY27).
Is MSG Knickerbockers or Butler National growing faster?
Butler National is growing faster (+53% against +15% a year earlier).
Which is more profitable, MSG Knickerbockers or Butler National?
Butler National is more profitable, with an operating margin of 24.1% against -56.0%.
More: MSG Knickerbockers earnings · how MSG Knickerbockers makes money · Butler National earnings · how Butler National makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 6, 2026; 10-Q filed Sep 11, 2026). Fiscal quarters can end on different dates. Not investment advice.