Education
About Us
Working with TipRanks
Follow Us
Atlanta Braves Holdings Inc Class A (BATRA)
NASDAQ:BATRA
RESEARCH TOOLSreports
Top Page
Atlanta Braves Holdings Inc Class A
(NASDAQ:BATRA)
Rating:64Neutral
Price Target:
$47.00
▲(7.55%Upside)
Positive Factors
Broadcasting Opportunities
NBC, Google, YouTube, and Fox have shown interest in acquiring the former ESPN package, which could benefit the Braves.
Financial Performance
The Braves are ranked as the #8 most expensive MLB team by Forbes, valued at $3 billion, with a larger fan area TV market and a superior payroll ROI compared to top teams like the Yankees and Dodgers.
On-field Performance
Braves Holdings Chairman & CEO Terence McGuirk and Atlanta Braves CEO Derek Schiller highlighted an improvement in current on-field performance and early expectations for a satisfactory new CBA.
Negative Factors
Player Salaries
A 4Q decline in player salaries was also due to limited offseason trade activity – especially compared to NL East peers.
Revenue Impact
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. SPDR S&P 500 ETF (SPY)
Market Cap
$2.55B
Dividend YieldN/A
Average Volume (3M)44.76K
Price to Earnings (P/E)―
Beta (1Y)0.54
Revenue Growth4.04%
EPS Growth82.47%
CountryUS
Employees1,450
SectorCommunication Services
Sector Strength88
IndustryEntertainment
Share Statistics
EPS (TTM)-0.66
Shares Outstanding10,318,162
10 Day Avg. Volume44,918
30 Day Avg. Volume44,758
Financial Highlights & Ratios
PEG Ratio0.01
Price to Book (P/B)0.39
Price to Sales (P/S)0.00
P/FCF Ratio7.89
Enterprise Value/Market Cap-0.23
Enterprise Value/Revenue-0.10
Enterprise Value/Gross Profit0.27
Enterprise Value/Ebitda3.29
Forecast
1Y Price Target
$60.00Price Target Upside37.30% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
Atlanta Braves Holdings Inc Class A Business Overview & Revenue Model
Company DescriptionAtlanta Braves Holdings, through its wholly-owned subsidiary Braves Holdings, LLC, indirectly owns the Atlanta Braves Major League Baseball club and the associated mixed-use development project, The Battery Atlanta.
How the Company Makes MoneyAtlanta Braves Holdings Inc generates revenue through several key streams. The primary source of income is ticket sales for the Atlanta Braves' home games, including season tickets, individual game tickets, and premium seating options. Additionally, the company earns substantial revenue from broadcasting rights, which involve contracts with regional and national sports networks to televise games. Merchandise sales, including team apparel and memorabilia, also contribute to the company’s earnings. Concessions and parking at their home venue, Truist Park, provide additional revenue. Moreover, the company's financial performance is bolstered by sponsorship deals and partnerships with various brands that seek to associate with the Atlanta Braves' strong market presence and fan base. Revenue is further supported by hosting non-baseball events at Truist Park, such as concerts and other entertainment events, which utilize the venue's facilities.
Atlanta Braves Holdings Inc Class A Earnings Call Summary
Earnings Call Date:May 12, 2025
(Q1-2025)
| % Change Since: 0.48%|
Next Earnings Date:Aug 01, 2025
Earnings Call Sentiment Positive
The earnings call reflects a generally positive sentiment with significant revenue growth in both baseball and mixed-use development segments. The acquisition of Pennant Park and fan engagement initiatives are notable achievements. However, the company still faces challenges with operating losses and increased costs. Overall, the positive developments outweigh the negatives.Q1-2025 Updates
Positive Updates
Strong Revenue Growth
Total revenue for the first quarter of 2025 was $47.2 million, up from $37.1 million in the first quarter of 2024, marking a substantial increase despite the seasonal nature of the business.
Mixed-Use Development Success
Mixed-use development revenue increased to $18.6 million from $15.1 million year-over-year, driven by new lease commencements, sponsorship, and parking revenue.
Successful Acquisition of Pennant Park
Acquisition of Pennant Park, a six-building office complex adjacent to The Battery Atlanta, is expected to be immediately accretive and supports the strategic growth plan.
Baseball Segment Revenue Increase
Baseball revenue increased to $28.6 million from $22 million year-over-year, driven by increased broadcast revenue and events held at Truist Park.
Positive Fan Engagement
Seven sellouts since the start of the season and successful events like the Savannah Bananas drew over 140,000 visitors.
Negative Updates
Continued Operating Loss
Despite improvements, the operating loss for the first quarter of 2025 was $44.5 million compared to $52.4 million in the same period of 2024.
Increased Baseball Operating Costs
Increased operating costs due to higher player salaries, revenue share expenses, and additional expenses for events.
Company Guidance
In the Atlanta Braves Holdings' first quarter 2025 earnings call, management provided optimistic guidance on several fronts. Total revenue increased to $47.2 million from $37.1 million in the same period last year, driven by a rise in both baseball and mixed-use development revenues. Baseball revenue grew to $28.6 million, up from $22 million in the previous year, due to increased broadcast revenue and other revenue sources like events at Truist Park. Mixed-use development revenue also saw growth, reaching $18.6 million, up from $15.1 million, largely due to rental income and sponsorships. The company reported an improved operating loss of $44.5 million compared to $52.4 million in the first quarter of 2024, attributed to increased revenues. Additionally, the team highlighted strategic initiatives, including the acquisition of Pennant Park, expected to enhance their real estate portfolio and provide additional revenue streams. The company remains confident in its business model, which integrates multiple revenue streams, including its mixed-use real estate development, The Battery Atlanta, and anticipates continued growth and success in both baseball operations and real estate ventures.Atlanta Braves Holdings Inc Class A Financial Statement Overview
Summary
Atlanta Braves Holdings Inc Class A shows strong revenue growth and a solid balance sheet with low leverage and high liquidity. However, profitability remains a major challenge due to ongoing net losses and negative EBIT margins. Cash flow management has improved significantly, contributing positively to financial health, yet achieving consistent profitability is crucial for future stability.Income Statement
The income statement shows a mixed performance. There has been a substantial increase in revenue, with a TTM total revenue of $1,072,668,000 compared to $662,748,000 in the previous year, indicating strong revenue growth. However, profitability remains a concern as the TTM net profit margin is negative due to a net loss of $32,996,000. Gross profit margin is relatively healthy at 27.35%, but EBIT and EBITDA margins are negative, reflecting challenges in operational efficiency.65
Positive
Balance Sheet
The balance sheet is strong with a solid equity position. The debt-to-equity ratio is low at 0.004, showing minimal leverage and a strong equity ratio of 52.96%. Return on equity is negative due to losses, which is a concern. Overall, the company maintains a robust financial position with significant cash reserves and low debt levels, enhancing stability.78
Positive
Cash Flow
Cash flow statements indicate significant improvements. The TTM free cash flow is positive at $322,118,000, a considerable turnaround from the previous year's negative figures, indicating efficient cash flow management. The operating cash flow to net income ratio is positive, suggesting strong cash flow relative to net losses. However, fluctuations in cash flow from financing and investing activities pose potential risks.72
Positive
| Breakdown | |||||
| TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| -1.64B | 662.75M | 640.67M | 588.00M | 568.00M | 178.00M | Gross Profit |
| -2.16B | 148.84M | 149.44M | 382.00M | 409.00M | 8.00M | EBIT |
| -612.66M | -39.66M | -46.44M | -5.00M | 20.00M | -128.00M | EBITDA |
| -108.46M | -137.56M | -20.50M | 69.76M | 92.18M | -59.00M | Net Income Common Stockholders |
| -287.27M | -31.27M | -125.29M | -35.00M | -11.00M | -78.00M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 163.00M | 112.60M | 125.15M | 151.00M | 142.00M | 151.00M | Total Assets |
| 1.48B | 1.58B | 1.50B | 1.48B | 1.64B | 1.57B | Total Debt |
| 474.00M | 720.97M | 672.86M | 542.00M | 697.00M | 670.00M | Net Debt |
| 311.00M | 610.82M | 547.71M | 391.00M | 555.00M | 519.00M | Total Liabilities |
| 1.11B | 987.62M | 963.69M | 1.18B | 1.34B | 1.28B | Stockholders Equity |
| 378.00M | 524.18M | 528.60M | 294.00M | 296.00M | 291.00M |
| Cash Flow | Free Cash Flow | ||||
| 322.12M | -69.38M | -67.41M | 35.00M | 27.00M | -136.00M | Operating Cash Flow |
| 306.57M | 16.63M | 1.63M | 53.00M | 62.00M | -55.00M | Investing Cash Flow |
| -239.71M | -86.31M | -69.05M | 53.00M | -25.00M | -77.00M | Financing Cash Flow |
| 23.73M | 44.56M | 32.33M | -177.00M | 22.00M | 105.00M |
Atlanta Braves Holdings Inc Class A Technical Analysis
Positive
43.70
Price Trends
43.33
Positive
43.07
Positive
42.81
Positive
Market Momentum
-0.02
Positive
51.14
Neutral
56.27
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 43.7 is below the 20-day moving average (MA) of 43.89, above the 50-day MA of 43.33, and above the 200-day MA of 42.81, indicating a neutral trend. The MACD of -0.02 indicates Positive momentum. The RSI at 51.14 is Neutral, neither overbought nor oversold. The STOCH value of 56.27 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 1 New Risks
1.
As we begin transitioning away from services previously provided by Liberty, we may fail to replicate or replace certain functions, systems and infrastructure in a timely fashion, or at all, and may lose benefits from Liberty's global contracts. Q3, 2024
Atlanta Braves Holdings Inc Class A Peers Comparison
Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $31.35B | ― | -1.22% | ― | 3.60% | -120.30% | |
74 Outperform | $31.35B | ― | -1.22% | ― | 3.60% | -120.30% | |
64 Neutral | $2.55B | ― | -4.43% | ― | 4.04% | 82.47% | |
63 Neutral | $1.79B | 13.82 | 1222.83% | ― | 5.81% | 133.05% | |
61 Neutral | $14.60B | 5.95 | -4.32% | 3.69% | 2.76% | -30.49% | |
52 Neutral | $4.59B | 971.65 | -20.85% | ― | 14.64% | -79.70% | |
49 Neutral | $2.80B | ― | -34.14% | ― | -4.57% | 20.00% |
* Communication Services Sector Average
Performance Comparison
BATRA
Atlanta Braves Holdings Inc Class A
43.70
1.50
3.55%
FWONA
Liberty Media Liberty Formula One
89.75
24.35
37.23%
MANU
Manchester United
16.41
-0.22
-1.32%
MSGS
Madison Square Garden Sports
191.22
4.74
2.54%
FWONK
Liberty Media Liberty Formula One
98.98
26.77
37.07%
MSGE
Madison Square Garden Entertainment Corp.
37.77
3.01
8.66%
Atlanta Braves Holdings Inc Class A Corporate Events
M&A TransactionsBusiness Operations and Strategy
Atlanta Braves Holdings Expands with Pennant Park Acquisition
Positive
Apr 2, 2025
On April 1, 2025, Atlanta Braves Holdings, Inc., through its subsidiary Braves Development Company, acquired the Pennant Park office complex in Atlanta, Georgia, for approximately $93 million from Rubenstein Partners. This acquisition, which includes 763,465 square feet of office space and over 2,700 parking spaces, is strategically positioned to enhance the company’s real estate portfolio and expand its footprint adjacent to The Battery Atlanta. The property, with over 80% occupancy and notable tenants like The Home Depot, is expected to provide immediate value to the company and its stakeholders by increasing enterprise value and offering expanded amenities to the community.
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.