BATRK (Atlanta Braves Holdings, Inc.) Stock Financials & Earnings | Market Cap Arena

BATRK (Atlanta Braves Holdings, Inc.) Stock Financials & Earnings | Market Cap Arena

BATRKAtlanta Braves Holdings, Inc.

Mkt Cap$3B

Communication Services·Entertainment·🇺🇸 United States·NASDAQ

Revenue (TTM)$1.5B

Net Income (TTM)-$23M

EPS (TTM)-$0.38

Free Cash Flow (TTM)-$120M

Gross Margin35.8%

Op. Margin1.1%

Net Margin-1.6%

FCF Margin-8.0%

P/S Ratio (TTM)1.8x

P/E Ratio (TTM)—

YoY Rev Growth+127.2%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$31M	-$8M	-$49M
Q2 23	$270M	$72M	$19M
Q3 23	$272M	$71M	$16M
Q4 23	$68M	$13M	-$32M
Q1 24	$37M	-$10M	-$52M
Q2 24	$283M	$75M	$25M
Q3 24	$291M	$62M	$6M
Q4 24	$52M	$22M	-$19M
Q1 25	$47M	-$4M	-$44M
Q2 25	$312M	$77M	$42M
Q3 25	$1.1B	$454M	$39M
Q4 25	$61M	$12M	-$20M

Valuation

Quarter	P/S	P/E
Q1 23	4.6x	—
Q2 23	4.5x	—
Q3 23	4.3x	—
Q4 23	4.3x	—
Q1 24	4.3x	—
Q2 24	4.2x	—
Q3 24	4.1x	—
Q4 24	4.2x	—
Q1 25	4.1x	—
Q2 25	4.0x	—
Q3 25	1.9x	—
Q4 25	1.8x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$85M	$71M
Q2 23	-$49M	-$65M
Q3 23	-$57M	-$73M
Q4 23	$23M	-$791K
Q1 24	$91M	$63M
Q2 24	-$34M	-$64M
Q3 24	-$69M	-$12M
Q4 24	$29M	$17M
Q1 25	$96M	$76M
Q2 25	-$8M	-$25M
Q3 25	-$89M	-$96M
Q4 25	$26M	-$75M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$14M
Q2 23	$16M
Q3 23	$16M
Q4 23	$24M
Q1 24	$28M
Q2 24	$30M
Q3 24	$57M
Q4 24	$12M
Q1 25	$20M
Q2 25	$17M
Q3 25	$8M
Q4 25	$101M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+43.9%	+18.4%
Q2 23	+7.9%	+12.5%
Q3 23	+10.7%	+2.4%
Q4 23	-4.9%	+27.6%
Q1 24	+19.7%	+11.5%
Q2 24	+4.7%	+2.9%
Q3 24	+6.9%	+11.0%
Q4 24	-23.1%	-29.3%
Q1 25	+27.3%	+2.5%
Q2 25	+10.5%	+4.9%
Q3 25	+273.3%	+268.0%
Q4 25	+17.6%	+14.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$3M	10.3%
Q2 23	$0	0.0%
Q3 23	$3M	1.2%
Q4 23	$4M	5.3%
Q1 24	$4M	10.0%
Q2 24	$4M	1.3%
Q3 24	$6M	2.2%
Q4 24	-$14M	-26.5%
Q1 25	$3M	5.6%
Q2 25	$3M	0.8%
Q3 25	$0	0.0%
Q4 25	$6M	10.1%

OpEx Breakdown

Quarter	SG&A
Q1 23	$27M
Q2 23	$34M
Q3 23	$34M
Q1 24	$27M
Q3 24	$37M
Q4 24	$28M
Q1 25	$27M
Q2 25	$42M
Q3 25	$140M
Q4 25	$32M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$215M	$0	$215M
Q2 23	$131M	$0	$131M
Q3 23	$107M	$0	$107M
Q4 23	$125M	$0	$125M
Q1 24	$181M	$0	$181M
Q2 24	$121M	$0	$121M
Q3 24	$101M	$0	$101M
Q4 24	$110M	$0	$110M
Q1 25	$245M	$0	$245M
Q2 25	$96M	$0	$96M
Q3 25	$82M	$0	$82M
Q4 25	$112M	$0	$112M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	62M	+2.8%
Q2 23	62M	+0.1%
Q3 23	62M	+0.0%
Q4 23	62M	+0.2%
Q1 24	62M	+0.1%
Q2 24	62M	+0.1%
Q3 24	63M	+1.7%
Q4 24	62M	-2.1%
Q1 25	63M	+1.4%
Q2 25	64M	+2.5%
Q3 25	64M	-0.5%
Q4 25	64M	+0.0%