Atlanta Braves Holdings, Inc. (BATRA)

Atlanta Braves Holdings, Inc., through its subsidiary, Braves Holdings, LLC, owns and operates the Atlanta Braves Major League Baseball Club in the United States. It operates through Baseball and Mixed-Use Development segments. The company also operates the Braves' ballpark located in Cobb County, a suburb of Atlanta. In addition, it is involved in the mixed-use development business, such as retail, office, hotel, and entertainment operations primarily within The Battery Atlanta. The company was incorporated in 2022 and is headquartered in Atlanta, Georgia.

Ticker: BATRA
Exchange: Nasdaq
Sector: Communication Services
Industry: Entertainment
Market cap: $3.58B
52-week range: $41.50 - $60.48

Valuation

Share price: $55.43 (close of Nov 6, 2026)
P/E (TTM): -41.68x
Price to book: 6.49x
Price to free cash flow: -91.50x
Enterprise value: $4.36B
Book value per share: $8.55

Price performance

Period	Change
1 day	+0.86%
5 days	+1.30%
1 month	-4.02%
3 months	+5.38%
6 months	+0.34%
Year to date	+30.45%
1 year	+32.23%
3 years	+40.65%
5 years	+80.61%
10 years	+234.52%
All time	+201.18%

Short interest

As of: Oct 15, 2026
Short % of float: 5.89%
Shares short: 418.64K
Days to cover: 9.14
Change since prior report: -1.04%
Source: FINRA consolidated short interest

Profitability and growth

Return on equity: -4.34%
Return on invested capital: -0.92%
Return on assets: -1.45%
Return on capital employed: -1.09%
Gross margin: 15.75%
Net margin: -3.19%
EBITDA margin: 8.48%
Revenue growth: 10.52%

Cash flow and balance sheet

Free cash flow yield (TTM): -1.09%
Current ratio: 0.52x
Net debt to EBITDA: 27.17x

Latest reported year

Period end: Dec 31, 2025
Fiscal year: 2025
Revenue: $732.49M
Cost of revenue: $617.12M
Gross profit: $115.38M
EBITDA: $62.11M
Net income: -$23.37M
Earnings per share: $-0.37
Interest expense: $46.44M
Shares outstanding: 62.75M

Income statement by year

Period end	Revenue	Gross profit	Net income	EPS
2025-12-31	$732.49M	$115.38M	-$23.37M	-$0.37
2024-12-31	$662.75M	$86.01M	-$31.27M	-$0.50
2023-12-31	$640.67M	$78.46M	-$125.29M	-$2.03
2022-12-31	$588.56M	$74.93M	-$34.17M	-$0.55
2021-12-31	$563.72M	-	-$13.01M	-
2020-12-31	$178.00M	-	-$78.00M	-
2019-12-31	$476.00M	-	-$77.00M	-$1.51
2018-12-31	$442.00M	-	$5.00M	$0.10
2017-12-31	$386.00M	-	-$25.00M	-$0.51
2016-12-31	$262.00M	-	-$62.00M	-$1.25

Margins and returns by year

Period end	Gross margin	Net margin	Return on equity	Return on capital
2025-12-31	15.75%	-3.19%	-4.34%	-0.92%
2024-12-31	12.98%	-4.72%	-5.83%	-2.78%
2023-12-31	12.25%	-19.56%	-23.18%	-3.51%
2022-12-31	12.73%	-5.81%	-11.41%	-3.22%
2021-12-31	-	-2.31%	-4.39%	-
2020-12-31	-	-43.82%	-26.80%	-
2019-12-31	-	-16.18%	-20.37%	-
2018-12-31	-	1.13%	1.14%	-
2017-12-31	-	-6.48%	-5.85%	-
2016-12-31	-	-23.66%	-15.50%	-

Cash and debt by year

Period end	Cash	Debt
2025-12-31	$99.88M	$523.28M
2024-12-31	$110.14M	$512.93M
2023-12-31	$125.15M	$527.12M
2022-12-31	$150.66M	$467.16M
2021-12-31	$142.00M	$685.00M
2020-12-31	$151.00M	$611.00M
2019-12-31	$142.00M	$495.00M
2018-12-31	$107.00M	$477.00M
2017-12-31	$132.00M	$649.00M
2016-12-31	$107.00M	$328.00M

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-31	-$68.47M	$15.57M
2024-12-31	-$69.38M	$16.52M
2023-12-31	-$67.41M	$13.22M
2022-12-31	$35.68M	$12.23M
2021-12-31	$27.00M	$12.00M
2020-12-31	-$136.00M	$6.00M
2019-12-31	-$28.00M	$17.00M
2018-12-31	$70.00M	$11.00M
2017-12-31	-$261.00M	$48.00M
2016-12-31	-$271.00M	$9.00M

Investor relations

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-11-04	Sep 2026	$0.74
2026-08-05	Jun 2026	$0.42
2026-05-11	Mar 2026	-$0.83
2026-02-25	Dec 2025	-$0.74
2025-11-05	Sep 2025	$0.24
2025-08-07	Jun 2025	$0.34
2025-05-12	Mar 2025	-$0.94
2025-02-26	Dec 2024	-$0.78

Filings and sources

Company website: bravesholdings.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

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