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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)
Rating:73Outperform
Price Target:
$55.00
▲(12.66%Upside)
Positive Factors
Broadcast Rights
NBC, Google, YouTube, and Fox have shown interest in acquiring the former ESPN package, which could benefit the Braves.
Player Development
The Club should remain perennially well positioned for further on-field success off its universally perceived best player development program in MLB.
Real Estate Success
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
4Q24 Financial 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.
Player Salaries
A 4Q decline in player salaries was also due to limited offseason trade activity – especially compared to NL East peers.
Atlanta Braves Holdings Inc Class A (BATRA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.87B
Dividend YieldN/A
Average Volume (3M)71.20K
Price to Earnings (P/E)―
Beta (1Y)0.52
Revenue Growth4.04%
EPS Growth82.47%
CountryUS
Employees1,450
SectorCommunication Services
Sector Strength90
IndustryEntertainment
Share Statistics
EPS (TTM)-0.66
Shares Outstanding10,318,162
10 Day Avg. Volume119,583
30 Day Avg. Volume71,199
Financial Highlights & Ratios
PEG Ratio-0.27
Price to Book (P/B)6.86
Price to Sales (P/S)0.00
P/FCF Ratio57.61
Enterprise Value/Market Cap0.84
Enterprise Value/Revenue0.42
Enterprise Value/Gross Profit-1.11
Enterprise Value/Ebitda-13.78
Forecast
1Y Price Target
$60.00Price Target Upside22.90% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
Atlanta Braves Holdings Inc Class A Business Overview & Revenue Model
Company DescriptionAtlanta Braves Holdings Inc Class A (BATRA) is a publicly traded company that primarily operates in the sports and entertainment sector. The company is chiefly focused on the ownership and management of the Atlanta Braves, a Major League Baseball (MLB) team. Through its operations, Atlanta Braves Holdings Inc is involved in the business of professional sports management, encompassing team operations, brand licensing, and the development and management of sports-related facilities.
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: 12.26%|
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 |
| EBITDA | -108.46M | -137.56M | -20.50M | 69.76M | 92.18M | -59.00M |
| Net Income | -287.27M | -31.27M | -125.29M | -35.00M | -11.00M | -78.00M |
Balance Sheet | ||||||
| Total Assets | 13.29B | 1.58B | 1.50B | 1.48B | 1.64B | 1.57B |
| Cash, Cash Equivalents and Short-Term Investments | 3.15B | 112.60M | 125.15M | 151.00M | 142.00M | 151.00M |
| Total Debt | 30.00M | 720.97M | 672.86M | 542.00M | 697.00M | 670.00M |
| Total Liabilities | 1.18B | 987.62M | 963.69M | 1.18B | 1.34B | 1.28B |
| Stockholders Equity | 7.04B | 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
48.82
Price Trends
44.97
Positive
44.02
Positive
43.01
Positive
Market Momentum
1.42
Negative
67.58
Neutral
77.21
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 48.82 is above the 20-day moving average (MA) of 46.81, above the 50-day MA of 44.97, and above the 200-day MA of 43.01, indicating a bullish trend. The MACD of 1.42 indicates Negative momentum. The RSI at 67.58 is Neutral, neither overbought nor oversold. The STOCH value of 77.21 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 (55)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $32.27B | ― | -1.22% | ― | 3.60% | -120.30% | |
74 Outperform | $32.27B | ― | -1.22% | ― | 3.60% | -120.30% | |
73 Outperform | $2.87B | ― | -4.43% | ― | 4.04% | 82.47% | |
63 Neutral | $1.87B | 14.51 | 1222.83% | ― | 5.81% | 133.05% | |
57 Neutral | $4.92B | 1,057.93 | -20.85% | ― | 14.64% | -79.70% | |
55 Neutral | HK$64.86B | -1.42 | -1.91% | 7.25% | -4.22% | -14.17% | |
48 Neutral | $2.90B | ― | -34.14% | ― | -4.57% | 20.00% |
* Communication Services Sector Average
Performance Comparison
BATRA
Atlanta Braves Holdings Inc Class A
49.04
7.20
17.21%
FWONA
Liberty Media Liberty Formula One
92.43
27.65
42.68%
MANU
Manchester United
17.45
1.22
7.52%
MSGS
Madison Square Garden Sports
208.20
13.46
6.91%
FWONK
Liberty Media Liberty Formula One
102.50
29.68
40.76%
MSGE
Madison Square Garden Entertainment Corp.
39.67
5.23
15.19%
Atlanta Braves Holdings Inc Class A Corporate Events
Business Operations and StrategyFinancial Disclosures
Atlanta Braves Holdings Hosts Investor Day Webcast
Neutral
Jun 18, 2025
On June 18, 2025, Atlanta Braves Holdings Inc held an Investor Day webcast to discuss the company’s financial performance and future outlook. The event included presentations on various aspects of the business, such as financial strategies, market positioning, and technological advancements. The company emphasized its strong historical performance and outlined future strategies, including new service offerings and partnerships, while cautioning about the inherent risks in forward-looking statements.
The most recent analyst rating on (BATRA) stock is a Buy with a $60.00 price target. To see the full list of analyst forecasts on Atlanta Braves Holdings Inc Class A stock, see the BATRA Stock Forecast page.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.