Atlanta Braves Holdings, Inc. (BATRA) is a Communication Services stock trading at $57.21 (as of 2026-08-20), with a market capitalization of $3.68B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.
Understand Atlanta Braves Holdings, Inc.: how it makes money
Atlanta Braves Holdings runs baseball-related and live entertainment businesses, earning revenue from baseball operations and events, mixed-use development, and contracted future revenue, along with smaller corporate and other revenue streams.
The profit model is structured around contracted future revenue as a key line item, alongside smaller streams tied to baseball operations and events (and other revenue lines), so results can swing based on how those streams are recognized and how event demand performs.
Revenue by segment (latest quarter)
Corp & Other
$0.1B
Mixed-Use
$0.0B
Baseball Events
$0.0B
Business quality (Weak): Latest-quarter results show revenue around 0.1B with a negative operating margin of -57.3%, so operating losses are currently a central fact. The company also discloses operating visibility via “Future Revenue Secured Under Contract” and demand indicators like season ticket renewal rate, but the mix suggests performance depends on both contract recognition and event-linked businesses.
Bull case
Contract visibility highlighted as a major line item: The company tracks “Future Revenue Secured Under Contract” at 14.2 USD_B, suggesting it emphasizes longer-term revenue secured under contract.
Season ticket renewal metric indicates customer stickiness: “Braves Season Ticket Renewal Rate (To Date for 2025)” is shown at 90.0 percent, and an “Atlanta Braves Season Tickets Wait List” of 18000 indicates demand is being monitored.
Bear case
Operating losses in the latest quarter: The latest quarter shows operating margin of -57.3 percent, indicating expenses exceeded operating results relative to the period’s revenue.
Event and venue economics can be volatile: The KPI set includes event- and attendance-linked measures such as “Average Tickets Sold per Game,” “Home Games Played,” and multiple live-event attendance figures, which implies results may be sensitive to event volume and participation.
Some revenue lines appear inactive in the latest quarter: “Broadcasting Revenue” and “Baseball Broadcasting Revenue” are both shown as 0.0, which limits diversification from those categories in the reported period.
Valuation — source: SEC EDGAR (first-party)
Price
$57.21
Market Cap
$3.68B
EV / EBITDA
61.1
Price / Book
6.94
Price / Sales
4.87
FCF Yield
-3.9%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)
$732.49M
Net Margin
-3.2%
Revenue Growth (YoY)
52.5%
EPS Growth (YoY)
-4.5%
Financial Health — source: SEC EDGAR
Altman Z-Score
1.76 (distress)
Valuation vs Sector & Industry
Sector P/E (Communication Services)
24.4
Industry P/E (Entertainment)
39.5
Company
Sector
Communication Services
Industry
Entertainment
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