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Atlanta Braves Holdings Inc Class A
(NASDAQ:BATRA)
Select Model
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Rating:61Neutral
Price Target:
$56.00
▲(30.08% Upside)
Action:Reiterated
Date:05/23/26
The score is primarily driven by improving TTM financial performance (strong revenue rebound and positive free cash flow) but held back by historically volatile profitability and cash-flow consistency. Technicals are moderately supportive with a constructive intermediate trend, and valuation appears reasonable on P/E. Earnings-call takeaways add cautious optimism on Braves Vision economics, tempered by cash-timing uncertainty and limited KPI transparency.
Positive Factors
TTM Revenue & Free Cash Flow Recovery
A large TTM revenue rebound and positive free cash flow (~$161M) indicate the business has re-established material cash generation. That durable cash can fund ballclub operating needs, real‑estate development, and debt management over the next 2–6 months while the company converts recent momentum into recurring flows.
Negative Factors
Volatile Multi-Year Profitability
Historic swings between losses and profits show earnings durability is unproven. Prior years had recurring negative FCF and uneven margins, meaning recent gains may reverse if attendance, on-field results, or real‑estate leasing weaken, raising medium‑term execution and forecasting risk.
Read all positive and negative factors
Positive Factors
Negative Factors
TTM Revenue & Free Cash Flow Recovery
A large TTM revenue rebound and positive free cash flow (~$161M) indicate the business has re-established material cash generation. That durable cash can fund ballclub operating needs, real‑estate development, and debt management over the next 2–6 months while the company converts recent momentum into recurring flows.
Read all positive factors
Atlanta Braves Holdings Inc Class A Key Performance Indicators (KPIs)
Any
Revenue by Segment
Breaks down total revenue into specific business segments, revealing which areas are driving growth and where there might be challenges or opportunities.
Breaks down total revenue into specific business segments, revealing which areas are driving growth and where there might be challenges or opportunities.
Data provided by:
The Fly
The FlyAtlanta Braves Holdings Inc Class A (BATRA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.32B
Dividend YieldN/A
Average Volume (3M)55.73K
Price to Earnings (P/E)47.3
Beta (1Y)0.47
Revenue Growth12.54%
EPS Growth-1.73%
CountryUS
Employees1,450
SectorCommunication Services
Sector Strength97
IndustryEntertainment
Share Statistics
EPS (TTM)1.20
Shares Outstanding10,318,187
10 Day Avg. Volume63,361
30 Day Avg. Volume55,726
Financial Highlights & Ratios
PEG Ratio4.42
Price to Book (P/B)5.04
Price to Sales (P/S)3.62
P/FCF Ratio-101.69
Enterprise Value/Market Cap2.16
Enterprise Value/Revenue5.13
Enterprise Value/Gross Profit16.02
Enterprise Value/Ebitda28.19
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.08
Revenue Forecast (FY)$782.47M
Atlanta Braves Holdings Inc Class A Business Overview & Revenue Model
Company Description
Through its wholly-owned subsidiary, Braves Holdings, LLC, Atlanta Braves Holdings maintains indirect control over both the Atlanta Braves Major League Baseball franchise and the adjacent commercial and residential complex known as The Battery Atl...
How the Company Makes Money
The company generates revenue primarily from (1) Braves baseball operations and (2) mixed-use real estate operations at/around The Battery Atlanta. Baseball-related revenue generally includes ticket sales (season and single-game), premium seating ...
Atlanta Braves Holdings Inc Class A Earnings Call Summary
Earnings Call Date:May 11, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Positive
The call highlights strong topline momentum, significant year-over-year revenue growth (total revenue +~52.5%; baseball revenue +~59.9%; mixed-use +~41.4%), improved losses (adjusted OIBDA and operating loss), robust fan engagement and attendance, and a strategically executed Braves Vision launch that management expects will meet or exceed prior RSN economics. The principal concerns are that the company remains unprofitable on a GAAP and adjusted basis this quarter, Braves Vision introduces cash-timing variability versus the prior license-fee model, certain operating costs and leverage have increased, and the company has not yet provided detailed Braves Vision KPIs needed for precise investor modeling. Overall, positives (growth, operational wins, and strategic control of media rights) outweigh the near-term challenges and disclosure gaps.Positive Updates
Strong Revenue Growth
Total revenue of $72.0M in Q1 2026 versus $47.2M in Q1 2025, a ~52.5% year-over-year increase. Baseball revenue rose to $45.7M from $28.6M (~+59.9%) and mixed-use development revenue increased to $26.3M from $18.6M (~+41.4%).
Negative Updates
Adjusted OIBDA and Operating Loss Still Negative
Despite improvements, adjusted OIBDA remains a loss at -$17.6M and operating loss at -$41.3M in Q1 2026, indicating continued negative quarterly profitability.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Revenue Growth
Total revenue of $72.0M in Q1 2026 versus $47.2M in Q1 2025, a ~52.5% year-over-year increase. Baseball revenue rose to $45.7M from $28.6M (~+59.9%) and mixed-use development revenue increased to $26.3M from $18.6M (~+41.4%).
Read all positive updates
Company Guidance
Management guided that Braves Vision is expected to meet or exceed the economics generated under the prior RSN agreement, but warned the timing of cash flows will change—distribution revenue will come on a slower cadence, advertising is paid after the month it airs, and direct‑to‑consumer subscriptions are paid monthly—and said it will provide more KPIs at the Q2 report; in Q1 FY2026 the company reported total revenue of $72.0M (baseball $45.7M; mixed‑use development $26.3M), adjusted OIBDA loss improved to $(17.6)M from $(28.5)M, operating loss narrowed to $(41.3)M from $(44.5)M, and cash and cash equivalents were $135.2M as of 3/31/2026; operational metrics cited included averaging ~33,000 tickets sold over the first 18 home games with seven sellouts, The Battery drew ~1.4M visitors in Q1, OTA games were increased to 25 (from 15), five new/extended leases signed totaling ~50k sq ft with ~75k sq ft under redevelopment, and on‑field performance featured leading the NL in April ERA, leading MLB in runs scored, third in home runs, and a +66 run differential in March–April.Atlanta Braves Holdings Inc Class A Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
58
Neutral
Cash Flow
54
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.40B | 732.49M | 662.75M | 640.67M | 588.56M | 563.72M |
| Gross Profit | 447.47M | 145.51M | 148.84M | 149.44M | 152.06M | 187.37M |
| EBITDA | 254.26M | 97.96M | 20.14M | 22.05M | 42.58M | 91.71M |
| Net Income | 71.02M | -23.37M | -31.27M | -125.29M | -34.17M | -13.01M |
Balance Sheet | ||||||
| Total Assets | 15.89B | 1.61B | 1.52B | 1.50B | 1.49B | 1.64B |
| Cash, Cash Equivalents and Short-Term Investments | 1.33B | 111.58M | 110.14M | 125.15M | 150.66M | 142.00M |
| Total Debt | 5.02B | 837.20M | 720.97M | 672.86M | 649.19M | 697.00M |
| Total Liabilities | 8.16B | 1.08B | 987.62M | 963.69M | 1.19B | 1.34B |
| Stockholders Equity | 7.73B | 526.05M | 524.18M | 528.60M | 299.51M | 296.00M |
Cash Flow | ||||||
| Free Cash Flow | 140.94M | -26.10M | -69.38M | -67.41M | 35.68M | 27.00M |
| Operating Cash Flow | 286.47M | 25.24M | 16.63M | 1.63M | 53.35M | 62.00M |
| Investing Cash Flow | -148.52M | -145.04M | -86.31M | -69.05M | 52.57M | -25.00M |
| Financing Cash Flow | -13.36M | 118.78M | 44.56M | 32.33M | -177.22M | 22.00M |
Atlanta Braves Holdings Inc Class A Technical Analysis
Positive
43.05
Price Trends
54.65
Positive
51.71
Positive
47.51
Positive
Market Momentum
0.81
Negative
59.54
Neutral
60.55
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 43.05 is below the 20-day moving average (MA) of 55.95, below the 50-day MA of 54.65, and below the 200-day MA of 47.51, indicating a bullish trend. The MACD of 0.81 indicates Negative momentum. The RSI at 59.54 is Neutral, neither overbought nor oversold. The STOCH value of 60.55 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
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | $3.54B | 67.81 | 8.89% | ― | 4.51% | -62.44% | |
65 Neutral | $3.47B | 20.14 | 31.48% | 1.45% | 6.85% | -26.53% | |
61 Neutral | $3.32B | 47.34 | 3.04% | ― | 12.54% | -1.73% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
48 Neutral | $9.47B | -414.52 | 7.74% | ― | 1.55% | -556.99% | |
47 Neutral | $352.76M | -5.64 | -53.05% | ― | -0.85% | -277.42% | |
46 Neutral | $3.77B | -156.10 | -9.65% | ― | 11.51% | 71.05% |
* Communication Services Sector Average
BATRA
Atlanta Braves Holdings Inc Class A
56.81
7.50
15.21%
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Atlanta Braves Holdings Inc Class A Corporate Events
Executive/Board ChangesShareholder Meetings
Atlanta Braves Shareholders Elect Director, Ratify Auditor
Positive
May 22, 2026
At its 2026 Annual Meeting of Stockholders held on May 20, 2026, Atlanta Braves Holdings, Inc. reported that shareholders elected Class III director nominee Wonya Y. Lucas to a three-year term expiring at the 2029 Annual Meeting. Lucas received ap...
Business Operations and StrategyProduct-Related Announcements
Atlanta Braves Launch BravesVision Direct-to-Fan TV Network
Positive
Feb 24, 2026
Atlanta Braves Holdings, Inc., owner of the MLB’s Atlanta Braves and the adjacent mixed-use development The Battery Atlanta, operates at the nexus of professional sports, media, and real estate-driven fan experiences. The company leverages i...
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.