NASDAQ : BATRK
Atlanta Braves Holdings, Inc. — Financial statements
Communication Services · Entertainment · United States
Last price 50.48 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 3.24B
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Financial statements
Atlanta Braves Holdings, Inc. (BATRK) reported revenue of 749.97M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 749.97M | 732.49M | 662.75M | 640.67M | 588.56M | 563.72M |
| Revenue | 749.97M | 732.49M | 662.75M | 640.67M | 588.56M | 563.72M |
| Cost of Revenue | 563.21M | 511.35M | 513.91M | 491.23M | 436.51M | 376.35M |
| Gross Profit | 186.76M | 221.14M | 148.84M | 149.44M | 152.06M | 187.37M |
| Selling, General & Admin | 143.70M | 127.06M | 123.70M | 122.69M | 104.87M | 97.10M |
| Operating Expenses | 225.44M | 202.69M | 186.53M | 193.67M | 176.57M | 168.13M |
| Operating Income | -38.68M | 18.45M | -37.69M | -44.23M | -24.51M | 19.24M |
| Interest Expense | -47.20M | -46.44M | -38.79M | -37.67M | -29.58M | -24.47M |
| Earnings From Equity Investments | 32.93M | 29.43M | 30.46M | 26.98M | 28.93M | 31.01M |
| Other Non Operating Income (Expenses) | 7.15M | 4.58M | 10.08M | 6.63M | 14.10M | 2.28M |
| EBT Excluding Unusual Items | -45.79M | 6.02M | -35.94M | -48.29M | -11.07M | 28.06M |
| Gain (Loss) on Sale of Investments | -83.18M | -35.15M | -30.77M | |||
| Gain (Loss) on Sale of Assets | 2.31M | 20.13M | -606.00K | |||
| Asset Writedown | -30.13M | -30.13M | -5.43M | |||
| Pretax Income | -75.92M | -24.11M | -35.94M | -129.16M | -31.52M | -3.31M |
| Income Tax Expense | -12.05M | -831.00K | -4.67M | -3.86M | 2.65M | 9.69M |
| Earnings From Continuing Operations | -63.87M | -23.28M | -31.27M | -125.29M | -34.17M | -13.01M |
| Minority Interest in Earnings | -314.00K | -87.00K | ||||
| Net Income | -64.19M | -23.37M | -31.27M | -125.29M | -34.17M | -13.01M |
| Net Income to Common | -64.19M | -23.37M | -31.27M | -125.29M | -34.17M | -13.01M |
| Shares Outstanding (Basic) | 63.47M | 62.75M | 62.03M | 61.73M | 62.13M | 52.00M |
| Shares Outstanding (Diluted) | 63.47M | 63.61M | 62.90M | 61.73M | 62.13M | 52.00M |
| EPS (Basic) | -1.01 | -0.37 | -0.50 | -2.03 | -0.55 | -0.25 |
| EPS (Diluted) | -1.01 | -0.37 | -0.50 | -2.03 | -0.55 | -0.25 |
| Free Cash Flow | -94.86M | -26.10M | -69.38M | -67.41M | 35.68M | 41.95M |
| Free Cash Flow Per Share | -1.50 | -0.41 | -1.10 | -1.09 | 0.57 | 0.81 |
| Gross Margin | 24.90% | 30.19% | 22.46% | 23.33% | 25.84% | 33.24% |
| Operating Margin | -5.16% | 2.52% | -5.69% | -6.90% | -4.17% | 3.41% |
| Profit Margin | -8.56% | -3.19% | -4.72% | -19.56% | -5.81% | -2.31% |
| Free Cash Flow Margin | -12.65% | -3.56% | -10.47% | -10.52% | 6.06% | 7.44% |
| EBITDA | 39.76M | 90.78M | 23.14M | 25.05M | 42.58M | 90.27M |
| EBITDA Margin | 5.30% | 12.39% | 3.49% | 3.91% | 7.23% | 16.01% |
| D&A For EBITDA | 78.44M | 72.33M | 60.83M | 69.28M | 67.10M | 71.02M |
| EBIT | -38.68M | 18.45M | -37.69M | -44.23M | -24.51M | 19.24M |
| EBIT Margin | -5.16% | 2.52% | -5.69% | -6.90% | -4.17% | 3.41% |
| Revenue as Reported | 749.97M | 732.49M | 662.75M | 640.67M | 588.56M | 563.72M |
| Advertising Expenses | 5.30M | 5.00M | 5.20M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 116.28M | 99.88M | 110.14M | 125.15M | 150.66M | 142.28M |
| Cash & Short-Term Investments | 116.28M | 99.88M | 110.14M | 125.15M | 150.66M | 142.28M |
| Accounts Receivable | 86.79M | 33.57M | 49.99M | 62.92M | 70.23M | 72.24M |
| Receivables | 86.79M | 33.57M | 49.99M | 62.92M | 70.23M | 72.24M |
| Restricted Cash | 62.68M | 11.69M | 2.46M | 12.57M | 22.15M | 87.86M |
| Other Current Assets | 22.13M | 13.56M | 16.56M | 17.38M | 24.33M | 78.69M |
| Total Current Assets | 287.88M | 158.71M | 179.15M | 218.02M | 267.38M | 381.07M |
| Property, Plant & Equipment | 863.40M | 870.92M | 811.32M | 769.45M | 732.47M | 773.15M |
| Long-Term Investments | 124.98M | 116.82M | 108.79M | 99.21M | 94.56M | 112.96M |
| Goodwill | 175.76M | 175.76M | 175.76M | 175.76M | 175.76M | 175.76M |
| Other Intangible Assets | 123.70M | 123.70M | 123.70M | 123.70M | 123.70M | 123.70M |
| Other Long-Term Assets | 164.66M | 169.05M | 125.13M | 118.18M | 96.79M | 99.23M |
| Total Assets | 1.74B | 1.61B | 1.52B | 1.50B | 1.49B | 1.67B |
| Accounts Payable | 95.91M | 43.47M | 62.24M | 73.10M | 54.75M | 65.29M |
| Current Portion of Long-Term Debt | 333.24M | 215.35M | 104.19M | 42.15M | 74.81M | 11.69M |
| Current Portion of Leases | 6.85M | 7.33M | 6.93M | 4.71M | 5.06M | |
| Current Unearned Revenue | 149.91M | 109.83M | 111.85M | 111.98M | 105.00M | 82.05M |
| Other Current Liabilities | 1.06M | 1.45M | 1.73M | 1.30M | 16.88M | |
| Total Current Liabilities | 585.91M | 377.04M | 286.66M | 233.67M | 240.91M | 175.91M |
| Long-Term Debt | 459.89M | 523.28M | 512.93M | 527.12M | 467.16M | 685.02M |
| Long-Term Leases | 96.71M | 99.24M | 106.20M | 105.62M | 109.25M | 110.93M |
| Long-Term Unearned Revenue | 19.80M | 18.90M | 17.80M | 16.40M | ||
| Pension & Post-Retirement Benefits | 1.76M | 6.56M | 15.22M | 15.40M | 34.85M | |
| Long-Term Deferred Tax Liabilities | 29.52M | 41.28M | 43.52M | 50.41M | 54.10M | 59.19M |
| Other Long-Term Liabilities | 21.92M | 15.27M | 13.96M | 15.24M | 304.32M | 293.76M |
| Total Liabilities | 1.21B | 1.08B | 987.62M | 963.69M | 1.19B | 1.36B |
| Common Stock | 637.00K | 627.00K | 624.00K | 619.00K | 732.35M | 720.02M |
| Additional Paid-In Capital | 1.18B | 1.14B | 1.11B | 1.09B | ||
| Retained Earnings | -661.73M | -609.01M | -585.64M | -554.38M | -429.08M | -394.89M |
| Comprehensive Income & Other | -2.73M | -2.74M | -3.35M | -7.27M | -3.76M | -18.91M |
| Total Common Equity | 514.28M | 526.05M | 524.18M | 528.60M | 299.51M | 306.22M |
| Minority Interest | 12.36M | 12.13M | 12.04M | 12.04M | ||
| Shareholders' Equity | 526.64M | 538.18M | 536.22M | 540.64M | 299.51M | 306.22M |
| Total Liabilities & Equity | 1.74B | 1.61B | 1.52B | 1.50B | 1.49B | 1.67B |
| Total Debt | 896.69M | 845.20M | 730.25M | 679.60M | 656.28M | 807.63M |
| Net Cash (Debt) | -780.41M | -745.32M | -620.11M | -554.45M | -505.62M | -665.35M |
| Net Cash Per Share | -12.30 | -11.72 | -9.86 | -8.98 | -8.14 | -12.80 |
| Filing Date Shares Outstanding | 64.17M | 63.12M | 62.57M | 61.87M | 53.06M | 52.79M |
| Total Common Shares Outstanding | 64.17M | 63.12M | 62.57M | 61.87M | 53.05M | 52.79M |
| Working Capital | -298.03M | -218.34M | -107.51M | -15.65M | 26.47M | 205.16M |
| Book Value Per Share | 8.01 | 8.33 | 8.38 | 8.54 | 5.65 | 5.80 |
| Tangible Book Value | 214.81M | 226.58M | 224.71M | 229.13M | 43.00K | 6.76M |
| Tangible Book Value Per Share | 3.35 | 3.59 | 3.59 | 3.70 | 0.00 | 0.13 |
| Land | 66.83M | 66.83M | 41.47M | 41.47M | 41.47M | |
| Buildings | 813.62M | 813.18M | 762.70M | 636.75M | 637.27M | |
| Machinery | 216.75M | 208.23M | 193.82M | 188.35M | 184.29M | |
| Construction In Progress | 3.80M | 5.10M | 10.66M | 84.55M | 10.41M | |
| Leasehold Improvements | 182.19M | 172.69M | 153.16M | 140.83M | 134.33M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -64.19M | -23.37M | -31.27M | -125.29M | -34.17M | -13.01M |
| Depreciation & Amortization | 78.44M | 72.33M | 60.83M | 69.28M | 67.10M | 71.02M |
| Other Amortization | 3.30M | 3.30M | 2.00M | 1.70M | 4.60M | |
| Loss (Gain) From Sale of Assets | -2.31M | -20.13M | 606.00K | |||
| Asset Writedown & Restructuring Costs | 30.13M | 30.13M | 4.81M | |||
| Loss (Gain) From Sale of Investments | 83.18M | 35.15M | 30.77M | |||
| Loss (Gain) on Equity Investments | -10.60M | -8.28M | -8.86M | -4.54M | -7.23M | -17.28M |
| Stock-Based Compensation | 23.68M | 15.57M | 16.52M | 13.22M | 12.23M | 12.36M |
| Other Operating Activities | -6.05M | 7.46M | -5.06M | -3.89M | -22.34M | 9.62M |
| Change in Accounts Payable | -19.00M | -14.87M | -1.70M | 13.08M | 3.42M | 23.84M |
| Change in Other Net Operating Assets | -99.75M | -57.04M | -15.83M | -42.80M | 9.91M | -40.62M |
| Operating Cash Flow | -64.05M | 25.24M | 16.63M | 1.63M | 53.35M | 77.31M |
| Capital Expenditures | -30.81M | -51.33M | -86.01M | -69.04M | -17.67M | -35.36M |
| Divestitures | 48.01M | |||||
| Sale (Purchase) of Real Estate | -93.71M | |||||
| Investment in Securities | -334.00K | -125.00K | -5.27M | |||
| Other Investing Activities | 6.00K | 6.00K | 40.00K | 110.00K | 27.50M | 1.50M |
| Investing Cash Flow | -30.80M | -145.04M | -86.31M | -69.05M | 52.57M | -33.86M |
| Long-Term Debt Issued | 158.16M | 144.89M | 83.03M | 154.75M | 117.38M | |
| Long-Term Debt Repaid | -41.49M | -102.42M | -56.19M | -309.61M | -93.34M | |
| Net Debt Issued (Repaid) | 87.91M | 116.67M | 42.48M | 26.85M | -154.86M | 24.05M |
| Issuance of Common Stock | 31.35M | 9.05M | 6.41M | 5.66M | ||
| Repurchase of Common Stock | -689.00K | |||||
| Other Financing Activities | 938.00K | -6.95M | -4.33M | 6.17M | -22.36M | -14.30M |
| Financing Cash Flow | 120.19M | 118.78M | 44.56M | 32.33M | -177.22M | 15.41M |
| Net Cash Flow | 25.34M | -1.02M | -25.12M | -35.10M | -71.30M | 58.85M |
| Free Cash Flow | -94.86M | -26.10M | -69.38M | -67.41M | 35.68M | 41.95M |
| Free Cash Flow Margin | -12.65% | -3.56% | -10.47% | -10.52% | 6.06% | 7.44% |
| Free Cash Flow Per Share | -1.50 | -0.41 | -1.10 | -1.09 | 0.57 | 0.81 |
| Levered Free Cash Flow | -19.99M | 11.39M | -41.87M | 13.58M | 151.35M | -50.81M |
| Unlevered Free Cash Flow | 9.50M | 40.41M | -17.63M | 37.13M | 169.84M | -35.51M |
| Cash Interest Paid | 40.47M | 40.47M | 37.37M | 36.70M | 25.34M | 23.74M |
| Cash Income Tax Paid | 729.00K | 729.00K | 5.24M | 2.81M | -7.47M | -7.33M |
| Change in Working Capital | -118.75M | -71.91M | -17.53M | -29.72M | 13.33M | -16.78M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 3.26B | 2.53B | 2.42B | 2.48B | 1.71B | 1.48B |
| Enterprise Value | 4.04B | 3.33B | 3.07B | 3.05B | 2.15B | 2.06B |
| Last Close Price | 50.48 | 39.45 | 38.26 | 39.58 | 32.23 | 28.10 |
| Forward PE | 131.08 | 131.08 | 131.08 | 131.08 | 33.32 | |
| PS Ratio | 4.36 | 3.46 | 3.65 | 3.87 | 2.91 | 2.62 |
| PB Ratio | 6.30 | 4.71 | 4.51 | 4.59 | 5.71 | 4.82 |
| P/TBV Ratio | 15.22 | 11.18 | 10.76 | 10.83 | 39,794.86 | 218.43 |
| P/FCF Ratio | 47.96 | 35.18 | ||||
| P/OCF Ratio | 100.34 | 145.32 | 1,526.34 | 32.08 | 19.09 | |
| EV/Sales Ratio | 5.40 | 4.55 | 4.63 | 4.76 | 3.65 | 3.65 |
| EV/EBITDA Ratio | 101.83 | 36.68 | 132.72 | 121.71 | 50.49 | 22.82 |
| EV/EBIT Ratio | 180.48 | 107.04 | ||||
| EV/FCF Ratio | 60.26 | 49.10 | ||||
| Debt / Equity Ratio | 1.70 | 1.57 | 1.36 | 1.26 | 2.19 | 2.64 |
| Debt / EBITDA Ratio | 18.17 | 8.42 | 21.61 | 20.21 | 14.48 | 8.95 |
| Debt / FCF Ratio | 18.39 | 19.25 | ||||
| Net Debt / Equity Ratio | 1.48 | 1.39 | 1.16 | 1.03 | 1.69 | 2.17 |
| Net Debt / EBITDA Ratio | 19.63 | 8.21 | 26.80 | 22.13 | 11.87 | 7.37 |
| Net Debt / FCF Ratio | -8.23 | -28.56 | -8.94 | -8.22 | 14.17 | 15.86 |
| Asset Turnover | 0.44 | 0.47 | 0.44 | 0.43 | 0.37 | 0.35 |
| Quick Ratio | 0.35 | 0.35 | 0.56 | 0.81 | 0.92 | 1.22 |
| Current Ratio | 0.49 | 0.42 | 0.62 | 0.93 | 1.11 | 2.17 |
| Return on Equity (ROE) | -12.03% | -4.33% | -5.81% | -29.83% | -11.28% | -4.35% |
| Return on Assets (ROA) | -1.41% | 0.73% | -1.56% | -1.85% | -0.97% | 0.74% |
| Return on Capital Employed (ROCE) | -3.40% | 1.50% | -3.00% | -3.50% | -2.00% | 1.30% |
| Earnings Yield | -1.99% | -0.92% | -1.29% | -5.05% | -2.00% | -0.88% |
| FCF Yield | -2.90% | -1.03% | -2.87% | -2.72% | 2.08% | 2.84% |
| Buyback Yield / Dilution | -1.74% | -1.13% | -1.89% | 0.64% | -19.48% | 13.33% |