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Atlanta Braves Holdings, Inc.

BATRK

Atlanta Braves Holdings, Inc. • NASDAQ
$39.80 ▲ 1.17% (+0.46)
Market Cap $2.49 B
52w High $47.18
52w Low $35.46
Dividend Yield 0%
P/E -1990
Volume 115.22K
Outstanding Shares 62.58M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.085B ▲ $415.07M ▲ $30.102M ▲ 2.774% ▼ $0.48 ▲ $77.558M ▲
Q2-2025 $312.44M ▲ $34.94M ▼ $29.494M ▲ 9.44% ▲ $0.47 ▲ $74.704M ▲
Q1-2025 $47.211M ▼ $40.492M ▲ $-41.391M ▼ -87.672% ▼ $-0.66 ▼ $-30.297M ▲
Q4-2024 $52.118M ▼ $40.27M ▼ $-28.471M ▼ -54.628% ▼ $0.2 ▲ $-75.757M ▼
Q3-2024 $290.674M $55.8M $10.02M 3.447% $0.16 $38.144M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $82.237M ▼ $1.671B ▼ $1.099B ▼ $560.29M ▲
Q2-2025 $96.196M ▼ $1.684B ▲ $1.149B ▼ $522.828M ▲
Q1-2025 $244.679M ▲ $1.681B ▲ $1.183B ▲ $486.121M ▼
Q4-2024 $110.144M ▲ $1.524B ▼ $987.622M ▼ $524.179M ▼
Q3-2024 $100.852M $1.557B $1.015B $530.422M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $29.978M ▲ $-88.815M ▼ $-7.561M ▲ $57.372M ▲ $-39.004M ▲ $-96.378M ▼
Q2-2025 $29.494M ▲ $-8.13M ▼ $-108.588M ▼ $3.348M ▼ $-113.37M ▼ $-25.014M ▼
Q1-2025 $-41.391M ▼ $95.77M ▲ $-21.517M ▼ $80.139M ▲ $154.392M ▲ $76.254M ▲
Q4-2024 $-19.125M ▼ $28.903M ▲ $-12.092M ▲ $-20.232M ▼ $-3.421M ▲ $16.812M ▲
Q3-2024 $10.02M $-69.024M $-16.11M $39.798M $-45.336M $-11.592M

Revenue by Products

Product Q2-2024Q3-2024Q4-2024Q2-2025
Formula 1
Formula 1
 $850.00M ▲$850.00M ▲$2.47Bn ▲$1.20Bn ▼
Other
Other
 $140.00M ▲$60.00M ▼$270.00M ▲$140.00M ▼
Sirius XM Holdings Revenue
Sirius XM Holdings Revenue
 $2.18Bn ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily coming out of the pandemic, helped by both the baseball operations and the mixed‑use real estate. However, profits have not followed the same clear upward path. The company has hovered around break‑even at the operating level and has reported net losses in each of the last five years, with one particularly weak year in the recent past. That said, losses have narrowed most recently, suggesting the core business is stabilizing but not yet consistently profitable. Overall, this is a revenue‑growing, margin‑thin business still working toward reliable earnings.

Balance Sheet

Balance Sheet The balance sheet shows a sizable asset base tied to both the team and the real estate developments, with total assets relatively stable over time. Equity has improved versus a few years ago, indicating some strengthening of the company’s capital position. At the same time, debt is substantial and has inched higher again recently, leaving the business meaningfully leveraged. Cash on hand is modest relative to the size of the operation, which means the company depends on ongoing cash generation and financing access. Financially, this is a capital‑intensive, debt‑heavy structure that needs steady operating performance to remain comfortable.

Cash Flow

Cash Flow Operating cash flow has generally been positive but slim, with only modest cash being generated from day‑to‑day operations in most years. Free cash flow has slipped into negative territory in several recent periods, mainly because the company has been spending heavily on capital projects like facilities and real estate expansion. This pattern suggests a business in investment mode: reinvesting for growth and improved experiences, but at the cost of near‑term cash outflows. The key question going forward is whether these investments eventually translate into stronger, more consistent cash generation.

Competitive Edge

Competitive Edge Atlanta Braves Holdings benefits from a rare combination: ownership of a popular Major League Baseball team and control of a destination real estate development next to the ballpark. The Braves brand, long history, and recent on‑field success support strong fan loyalty, while The Battery Atlanta draws visitors year‑round, not just on game days. This dual model diversifies revenue beyond tickets and media rights and creates an integrated entertainment ecosystem that is hard for many other teams to copy, especially those without similar real estate control. Still, the company remains exposed to broader trends in sports media, local economic conditions, and the team’s on‑field performance.

Innovation and R&D

Innovation and R&D The company is leaning into innovation on several fronts. It has built “The Battery Atlanta” into a modern, mixed‑use destination that blends sports, retail, dining, offices, and residential space. Digitally, it is experimenting with a virtual twin of the ballpark in the metaverse, exploring new ways for fans to interact, attend virtual events, and potentially buy digital goods. Internally, the baseball side has invested in analytics and data‑driven decision‑making to improve on‑field performance. Planned expansions of the real estate footprint and further upgrades ahead of major events point to a strategy focused on both physical and digital experience upgrades rather than traditional R&D in the lab sense.

Summary

Atlanta Braves Holdings is a hybrid sports‑and‑real‑estate business that has grown revenue and built a distinctive destination around its team, but has not yet translated that fully into consistent profitability or strong free cash flow. The balance sheet carries meaningful debt, reflecting the capital intensity of stadium and real estate projects, while cash generation remains modest and periodically pressured by heavy investment. On the positive side, the company has a differentiated competitive position built on a beloved franchise, a thriving mixed‑use development, and a willingness to innovate in digital fan engagement and analytics. The main variables to watch are the path to sustained earnings, the payoff from ongoing real estate and digital initiatives, and how comfortably the firm manages its leverage through economic and sports‑cycle swings.