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Atlanta Braves Holdings Inc Class A (BATRA)
NASDAQ:BATRA
RESEARCH TOOLSreports
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Atlanta Braves Holdings Inc Class A
(NASDAQ:BATRA)
44Neutral
Positive Factors
Media and Broadcasting
FanDuel Sports Network, in partnership with the Atlanta Braves, announced details for its DTC streaming offering to make games accessible to fans throughout its entire television territory with no local blackouts.
Player Development
The Club should remain perennially well positioned for further on-field success off its universally perceived best player development program in MLB.
Retail Revenue
The Battery remains a material success with 8.7M 2024 visitors generating $130M in 2024 retail revenues with YoY growth despite the three fewer 4Q home Braves games and two fewer concerts.
Negative Factors
Player Salaries
A 4Q decline in player salaries was also due to limited offseason trade activity – especially compared to NL East peers.
Quarterly Financial Performance
4Q24 results were affected by the absence of any home games vs. three in the prior year quarter, leading to a revenue fall during the period.
Atlanta Braves Holdings Inc Class A (BATRA) vs. S&P 500 (SPY)
Market Cap
$2.46B
Dividend YieldN/A
Average Volume (3M)36.98K
Price to Earnings (P/E)―
Beta (1Y)0.56
Revenue Growth3.45%
EPS Growth75.21%
CountryUS
Employees1,240
SectorCommunication Services
Sector Strength77
IndustryTraditional Media
Share Statistics
EPS (TTM)-0.50
Shares Outstanding10,318,162
10 Day Avg. Volume30,239
30 Day Avg. Volume36,975
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)4.05
Price to Cash Flow (P/CF)23.20
P/FCF Ratio31.70
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$60.00Price Target Upside38.76% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
Atlanta Braves Holdings Inc Class A Business Overview & Revenue Model
Company DescriptionLiberty Media Corporation (commonly referred to as Liberty Media or just Liberty) is an American mass media company controlled by chairman John C. Malone. The company has three divisions, reflecting the company's ownership stakes in Formula One, SiriusXM, and the Atlanta Braves Major League Baseball team.
How the Company Makes MoneyAtlanta Braves Holdings Inc generates revenue through several key streams. The primary source is the operation of the Atlanta Braves baseball team, which includes ticket sales, concessions, and merchandise sales during home games. Additionally, the company earns substantial income from broadcasting rights, where media companies pay for the rights to air Braves games. Sponsorship and advertising partnerships with various brands provide another significant revenue stream. Furthermore, the company benefits from its mixed-use real estate development, which includes retail, residential, and office spaces surrounding the Braves' stadium, generating rental income and enhancing the overall fan and visitor experience. These diversified revenue streams, coupled with strategic partnerships, contribute to the company's financial stability and growth.
Atlanta Braves Holdings Inc Class A Financial Statement Overview
Summary
Atlanta Braves Holdings Inc Class A shows revenue growth but struggles with profitability and equity issues. The transition to no debt in 2024 is promising, yet historical leverage and cash flow volatility are concerns. The company shows improvement signs but faces significant financial challenges.Income Statement
The gross profit margin is high due to low cost of goods sold, but the consistent negative EBIT and net income margins highlight profitability challenges. Revenue shows growth from 2023 to 2024, but overall profitability remains an issue.45
Neutral
Balance Sheet
The company has no debt in 2024, which is a positive sign, but the absence of stockholders' equity is concerning. Prior years showed high leverage with a fluctuating equity position, which poses financial risks.30
Negative
Cash Flow
Operating cash flow improved significantly from 2023 to 2024, indicating better cash generation. Free cash flow is positive in 2024, but the historical volatility in cash flows, especially in investing activities, suggests potential instability.50
Neutral
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 662.75M | 640.67M | 588.00M | 568.00M | 178.00M | Gross Profit |
| 662.75M | 149.44M | 382.00M | 409.00M | 8.00M | EBIT |
| -39.66M | -46.44M | -5.00M | 20.00M | -128.00M | EBITDA |
| -11.90M | -20.50M | 69.76M | 92.18M | -59.00M | Net Income Common Stockholders |
| -40.61M | -125.29M | -35.00M | -11.00M | -78.00M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 110.14M | 125.15M | 151.00M | 142.00M | 151.00M | Total Assets |
| 1.52B | 1.50B | 1.48B | 1.64B | 1.57B | Total Debt |
| 720.97M | 672.86M | 542.00M | 697.00M | 670.00M | Net Debt |
| 610.82M | 547.71M | 391.00M | 555.00M | 519.00M | Total Liabilities |
| 987.62M | 963.69M | 1.18B | 1.34B | 1.28B | Stockholders Equity |
| 524.18M | 528.60M | 294.00M | 296.00M | 291.00M |
| Cash Flow | Free Cash Flow | |||
| 16.63M | -67.41M | 35.00M | 27.00M | -136.00M | Operating Cash Flow |
| 16.63M | 1.63M | 53.00M | 62.00M | -55.00M | Investing Cash Flow |
| -86.31M | -69.05M | 53.00M | -25.00M | -77.00M | Financing Cash Flow |
| 44.56M | 32.33M | -177.00M | 15.41M | 105.00M |
Atlanta Braves Holdings Inc Class A Technical Analysis
Positive
43.24
Price Trends
42.51
Positive
42.17
Positive
42.80
Positive
Market Momentum
-0.03
Positive
53.19
Neutral
68.06
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BATRA, the sentiment is Positive. The current price of 43.24 is above the 20-day moving average (MA) of 43.11, above the 50-day MA of 42.51, and above the 200-day MA of 42.80, indicating a bullish trend. The MACD of -0.03 indicates Positive momentum. The RSI at 53.19 is Neutral, neither overbought nor oversold. The STOCH value of 68.06 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BATRA.
Atlanta Braves Holdings Inc Class A Risk Analysis
Atlanta Braves Holdings Inc Class A disclosed 45 risk factors in its most recent earnings report. Atlanta Braves Holdings Inc Class A reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Atlanta Braves Holdings Inc Class A Peers Comparison
Overall Rating
UnderperformOutperform
Sector (59)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $27.55B | 45.20 | 827.53% | ― | 1.79% | 99.46% | |
66 Neutral | $402.91M | 81.51 | 1.73% | 0.57% | -1.53% | -80.10% | |
61 Neutral | $27.35B | ― | -0.43% | ― | 12.23% | -110.37% | |
60 Neutral | $8.12B | 19.43 | 42.87% | 0.37% | 11.07% | 3.32% | |
59 Neutral | $28.66B | -0.07 | -18.82% | 3.94% | 1.99% | -48.79% | |
46 Neutral | $2.31B | ― | -92.34% | ― | -11.35% | -837.48% | |
44 Neutral | $2.46B | ― | -5.94% | ― | 3.45% | 75.21% |
* Communication Services Sector Average
Performance Comparison
BATRA
Atlanta Braves Holdings Inc Class A
43.24
2.55
6.27%
CHDN
Churchill Downs
112.01
-5.42
-4.62%
LYV
Live Nation Entertainment
122.14
16.15
15.24%
RICK
RCI Hospitality Holdings
45.59
-9.44
-17.15%
MANU
Manchester United
13.86
0.05
0.36%
FWONK
Liberty Media Liberty Formula One
87.07
19.83
29.49%
Atlanta Braves Holdings Inc Class A Earnings Call Summary
Earnings Call Date: Feb 26, 2025 | % Change Since: 0.98% | Next Earnings Date: May 7, 2025
Earnings Call Sentiment Positive
The earnings call presented a generally positive outlook for The Liberty Braves Group, with significant achievements in revenue growth, new partnerships, and development projects. Despite a quarterly revenue decline and reduced attendance at home games, the overall financial performance and strategic initiatives indicate a positive sentiment.Highlights
Record Full-Year Revenue
The Liberty Braves Group reported full-year 2024 revenue of $662.7 million, up from $640.7 million in 2023, driven by increased baseball event revenue and broadcasting revenue.
New Partnerships and Media Rights Expansion
The Braves secured a partnership with FanDuel Sports Network, acquiring streaming rights for the first time, and announced a multi-year partnership with Gray Media to increase game accessibility.
Strong Mixed-Use Development Performance
Mixed-use development revenue increased to $67.3 million in 2024 from $59 million in 2023, driven by rental income and parking revenue.
Battery Atlanta Success
The Battery Atlanta attracted 8.7 million visitors in 2024, generating over $130 million in retail revenue, despite fewer Braves home games and concerts.
Improved Financial Metrics
Adjusted OIBDA improved to $39.7 million for the full year 2024, an increase of $1.9 million, and the operating loss improved to $39.8 million from $46.4 million in 2023.
Lowlights
Quarterly Revenue Decline
The fourth quarter revenue decreased to $52.1 million from $67.7 million in the fourth quarter of 2023, primarily due to the absence of home games or concerts.
Reduced Attendance at Home Games
Regular season home games saw reduced attendance, which partially offset the revenue increase from new sponsorship agreements and contractual rate increases on season tickets.
Company Guidance
During The Liberty Braves Group Q4 and Year-End 2024 earnings call, the company provided guidance on various metrics, reflecting a positive outlook for 2025. Total revenue for the full year 2024 was reported at $662.7 million, an increase from $640.7 million in 2023, driven by new sponsorship agreements and increased broadcasting revenue. Mixed-use development revenue rose to $67.3 million from $59 million the previous year, attributed to higher rental income and parking revenue. The company reported an adjusted OIBDA of $39.7 million for 2024, up by $1.9 million, with an improvement in the fourth quarter to negative $3.8 million from negative $13 million in 2023. Operating loss improved to $39.8 million for the full year, compared to $46.4 million in 2023. The Braves are enthusiastic about their media rights agreements with FanDuel Sports Network and Gray Media, expecting increased accessibility for fans and potential revenue growth. Additionally, the Battery Atlanta attracted 8.7 million visitors, generating over $130 million in retail revenue. The company reported $110.1 million in cash and cash equivalents as of December 31, 2024, maintaining a strong financial position.Atlanta Braves Holdings Inc Class A Corporate Events
Business Operations and StrategyFinancial Disclosures
Atlanta Braves Holdings Schedules Earnings Call for 2024
Neutral
Jan 28, 2025
On January 28, 2025, Atlanta Braves Holdings, Inc. announced plans to hold a conference call on February 26, 2025, to discuss the fourth quarter and year-end 2024 results. The call will address the company’s financial performance and future outlook, potentially impacting investors and stakeholders by providing insights into the company’s operational and strategic direction.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.