Atlanta Braves Holdings Inc Class A (BATRA)
NASDAQ:BATRA
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Atlanta Braves Holdings Inc Class A
(NASDAQ:BATRA)
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Rating:56Neutral
Price Target:
$50.00
▲(16.14% Upside)
Action:ReiteratedDate:02/27/26
The score reflects improving operations and constructive price momentum, supported by positive 2025 performance and upbeat strategic commentary around BravesVision. It is held back primarily by weak financial quality—persistent losses, elevated leverage, and negative free cash flow—plus near-term execution and cash-flow uncertainty as broadcasting transitions in-house.
Positive Factors
Revenue & Operating Profitability Improvement
Sustained revenue growth and a large adjusted OIBDA gain reflect improving core operations and margin recovery. Higher OIBDA provides a structural cushion to absorb cyclical attendance swings, supports reinvestment in the team and venue, and improves the path to consistent net profitability over the medium term.
Negative Factors
Elevated Leverage
Relatively high leverage limits financial flexibility for a cyclical sports and real‑estate operator. Elevated debt raises refinancing and interest burdens, constrains capital allocation to player payroll, stadium investments or media buildout, and increases downside risk if revenue growth softens or capex needs rise.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue & Operating Profitability Improvement
Sustained revenue growth and a large adjusted OIBDA gain reflect improving core operations and margin recovery. Higher OIBDA provides a structural cushion to absorb cyclical attendance swings, supports reinvestment in the team and venue, and improves the path to consistent net profitability over the medium term.
Read all positive factors
Atlanta Braves Holdings Inc Class A (BATRA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.84B
Dividend YieldN/A
Average Volume (3M)54.13K
Price to Earnings (P/E)―
Beta (1Y)0.46
Revenue Growth6.62%
EPS Growth97.35%
CountryUS
Employees1,450
SectorCommunication Services
Sector Strength97
IndustryEntertainment
Share Statistics
EPS (TTM)-0.66
Shares Outstanding10,318,187
10 Day Avg. Volume52,839
30 Day Avg. Volume54,128
Financial Highlights & Ratios
PEG Ratio4.37
Price to Book (P/B)5.04
Price to Sales (P/S)3.62
P/FCF Ratio-22.15
Enterprise Value/Market Cap1.36
Enterprise Value/Revenue5.26
Enterprise Value/Gross Profit26.46
Enterprise Value/Ebitda39.30
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.06
Revenue Forecast (FY)$774.32M
Atlanta Braves Holdings Inc Class A Business Overview & Revenue Model
Company Description
Atlanta 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 Money
The company generates revenue through multiple streams, primarily from ticket sales for home games, which is a significant portion of its income. Additional revenue comes from broadcasting rights, which include local and national television deals ...
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 Earnings Call Summary
Earnings Call Date:Feb 25, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 13, 2026
Earnings Call Sentiment Positive
The call presented multiple material positive developments: notable year-over-year revenue growth (~+10.4%), a large improvement in adjusted OIBDA (+170%), strong mixed-use development performance (+44.8%), robust ticket demand (1.9M+ tickets sold for 2026) and a strategic shift to control local media rights with Brave Vision. These highlights indicate expanding diversified revenue streams and improved operating performance. Key risks and negatives include a remaining operating loss (-$14M), a $30M noncash impairment tied to prior broadcast arrangements, softer 2025 attendance, short-term cash flow uncertainty (analyst-cited negative FCF ~-$25M) and execution/timing risk as the company transitions media operations in-house, plus potential tax impacts from legislative changes. Overall, the positive operational and financial momentum and strategic initiatives outweigh the transitional and one-time negatives, though the Brave Vision execution and tax issues represent watch items in the near term.Positive Updates
Revenue Growth and Strong Adjusted OIBDA Improvement
Total revenue of $732,000,000 in 2025, up ~$69,000,000 from $663,000,000 in 2024 (~+10.4%). Adjusted OIBDA rose to $108,000,000 in 2025 vs $40,000,000 in 2024 (+170%), driven by higher baseball and mixed-use development results. Operating loss narrowed to $14,000,000 from a $40,000,000 loss in 2024 (improvement of $26,000,000). Cash and cash equivalents were $100,000,000 as of 12/31/2025.
Negative Updates
Operating Loss and Significant Noncash Impairment
Company reported an operating loss of $14,000,000 in 2025. The year included a $30,000,000 noncash impairment expense tied to the termination of a long-term local broadcast agreement, and increased depreciation and amortization contributed to the operating loss.
Read all updates
Q4-2025 Updates
Positive
Negative
Revenue Growth and Strong Adjusted OIBDA Improvement
Total revenue of $732,000,000 in 2025, up ~$69,000,000 from $663,000,000 in 2024 (~+10.4%). Adjusted OIBDA rose to $108,000,000 in 2025 vs $40,000,000 in 2024 (+170%), driven by higher baseball and mixed-use development results. Operating loss narrowed to $14,000,000 from a $40,000,000 loss in 2024 (improvement of $26,000,000). Cash and cash equivalents were $100,000,000 as of 12/31/2025.
Read all positive updates
Company Guidance
Management guided that with local media rights resolved they will launch Brave Vision/Brave.tv (in partnership with MLB) and begin reporting financial detail on the new broadcast business in Q2, while Gray Media will air 15 spring training games (a 50% increase) and simulcast select regular-season games; they emphasized execution to optimize subscriber reach, distribution, advertising and ticketing analytics. For context they reported 2025 total revenue of $732.0M (up from $663.0M), baseball revenue $635.0M (from $595.0M), mixed‑use revenue $97.0M (from $67.0M) — ~13% of total revenue and generating over $100.0M annualized — broadcasting revenue $189.0M (from $166.0M), event revenue $358.0M (from $348.0M), other revenue $42.0M (from $34.0M), adjusted OIBDA $108.0M (vs. $40.0M), operating loss $14.0M (vs. $40.0M), cash and equivalents $100.0M as of 12/31/2025, plus operational metrics including >1,900,000 tickets already sold for 2026 with premium clubs sold out, ~9,000,000 Battery visitors in 2025, ~380 total Battery events (144 common‑area, 147 Coca‑Cola Roxy, 95 Truist Park), tenant sales of ~$137.0M across 30 doors, PennantPark ~90% occupancy (up from low‑80s), and just under 50,000 sq ft of Q4 lease closings.Atlanta Braves Holdings Inc Class A Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
48
Neutral
Cash Flow
38
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 732.49M | 662.75M | 640.67M | 588.56M | 563.72M |
| Gross Profit | 145.51M | 148.84M | 149.44M | 152.06M | 187.37M |
| EBITDA | 97.96M | 20.14M | 22.05M | 42.58M | 90.27M |
| Net Income | -23.37M | -31.27M | -125.29M | -34.17M | -13.01M |
Balance Sheet | |||||
| Total Assets | 1.61B | 1.52B | 1.50B | 1.49B | 1.64B |
| Cash, Cash Equivalents and Short-Term Investments | 111.58M | 110.14M | 125.15M | 150.66M | 142.00M |
| Total Debt | 837.20M | 720.97M | 672.86M | 649.19M | 697.00M |
| Total Liabilities | 1.08B | 987.62M | 963.69M | 1.19B | 1.34B |
| Stockholders Equity | 526.05M | 524.18M | 528.60M | 299.51M | 296.00M |
Cash Flow | |||||
| Free Cash Flow | -119.81M | -69.38M | -67.41M | 35.68M | 27.00M |
| Operating Cash Flow | 25.24M | 16.63M | 1.63M | 53.35M | 62.00M |
| Investing Cash Flow | -145.04M | -86.31M | -69.05M | 52.57M | -25.00M |
| Financing Cash Flow | 118.78M | 44.56M | 32.33M | -177.22M | 22.00M |
Atlanta Braves Holdings Inc Class A Technical Analysis
Positive
43.05
Price Trends
47.16
Positive
45.02
Positive
45.50
Positive
Market Momentum
0.56
Negative
64.32
Neutral
82.98
Negative
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 47.67, below the 50-day MA of 47.16, and below the 200-day MA of 45.50, indicating a bullish trend. The MACD of 0.56 indicates Negative momentum. The RSI at 64.32 is Neutral, neither overbought nor oversold. The STOCH value of 82.98 is Negative, 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 |
|---|---|---|---|---|---|---|---|
65 Neutral | $2.87B | 6.89 | -618.85% | ― | 0.68% | -80.73% | |
61 Neutral | $3.51B | 19.44 | 25.84% | 1.45% | 9.70% | -31.62% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
56 Neutral | $2.84B | -113.56 | -4.46% | ― | 6.62% | 97.35% | |
54 Neutral | $7.97B | 189.56 | 5.81% | ― | -1.16% | -133.74% | |
49 Neutral | $439.45M | ― | -36.41% | ― | -4.07% | -100.72% | |
44 Neutral | $3.07B | 123.67 | -4.66% | ― | 5.69% | 52.32% |
* Communication Services Sector Average
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Atlanta Braves Holdings Inc Class A Corporate Events
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.