Atlanta Braves Holdings, Inc. financial statements
Income statement, balance sheet and cash flow statement for the last 4 fiscal years, taken from the XBRL data Atlanta Braves Holdings, Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2023
FY2023
FY2024
FY2025
Revenue
589
641
663
732
Selling, general and administrative
106
125
126
129
Operating expenses
619
687
702
746
Operating income
-30.6
-46.4
-39.7
-13.5
Interest expense
29.6
37.7
38.8
46.4
Other non-operating income
1.67
6.5
8.63
7.42
Pre-tax income
-31.5
-129
-35.9
-24.1
Income tax
2.66
-3.86
-4.67
-0.83
Net income
-34.2
-125
-31.3
-23.4
EBITDA
41.1
24.5
23.2
62.1
EPS, basic
-0.55
-2.03
-0.50
-0.37
EPS, diluted
-0.55
-2.03
-0.50
-0.37
Shares, basic (weighted)
61.7
62
62.8
Shares, diluted (weighted)
62.5
62.9
63.6
Balance sheet
FY2023
FY2023
FY2024
FY2025
Cash and equivalents
151
125
110
99.9
Receivables
24
27.8
27.6
33.5
Other current assets
24.3
17.4
16.6
13.6
Total current assets
267
218
179
159
Property, plant and equipment
730
767
807
869
Lease right-of-use assets
2.67
2.7
3.83
2.03
Goodwill
176
176
176
176
Other non-current assets
99.5
121
129
171
Total assets
1,491
1,504
1,524
1,615
Accounts payable
54.7
73.1
63.7
43.5
Deferred revenue
105
112
112
110
Short-term debt
74.8
42.2
104
215
Total current liabilities
241
234
287
377
Long-term debt
467
527
513
523
Lease liabilities
2.04
2.03
2.36
0.67
Other non-current liabilities
28.3
33.7
34.1
34.8
Total liabilities
1,191
964
988
1,077
Total debt
542
569
617
739
Paid-in capital
1,090
1,113
1,137
Retained earnings
-429
-554
-586
-609
Other comprehensive income
-3.76
-7.27
-3.35
-2.74
Shareholders' equity
300
529
524
526
Minority interests
12
12
12.1
Total equity
300
541
536
538
Total liabilities and equity
1,491
1,504
1,524
1,615
Cash flow statement
FY2023
FY2023
FY2024
FY2025
Net income
-34.2
-125
-31.3
-23.3
Depreciation and amortization
71.7
71
62.8
75.6
Stock-based compensation
12.2
13.2
16.5
15.6
Deferred income tax
-10.4
-7.87
-9.29
-2.44
Change in payables
3.42
13.1
-1.7
-14.9
Cash from operations
53.3
1.63
16.6
25.2
Capital expenditures
-17.7
-69
-86
-93.7
Cash from investing
52.6
-69.1
-86.3
-145
Debt issued
155
83
145
158
Debt repaid
-310
-56.2
-102
-41.5
Cash from financing
-177
32.3
44.6
119
Net change in cash
-71.3
-35.1
-25.1
-1.02
Free cash flow
35.7
-67.4
-69.4
-68.5
Interest paid
25.3
36.7
37.4
40.5
Income taxes paid
-7.47
2.81
5.24
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $59.61 on September 28, 2026.
Profitability
Metric
Value
How it is calculated
Operating margin
-9.4%
Operating income / revenue.
EBITDA margin
1.5%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-10.1%
Pre-tax income / revenue.
Net margin
-8.6%
Net income / revenue.
Operating cash flow margin
-8.5%
Cash from operations / revenue.
Return on equity (ROE)
-12.5%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-3.7%
Net income / average total assets.
Return on invested capital (ROIC)
-4.7%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue
19.4%
Selling, general and administrative expense / revenue.
Stock-based pay / revenue
3.2%
Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue
10.9%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
10.5%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
7.6%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y
168.1%
EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y
14.7%
Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y
51.7%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y
-22.1%
Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y
0.4%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
20.7%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y
6.0%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
2.7%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Share count change, 1y
1.1%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
0.49x
Current assets / current liabilities.
Quick ratio
0.20x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.20x
(Cash + short-term investments) / current liabilities.
Debt / equity
1.54x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
45.6%
Total debt / total assets.
Liabilities / assets
69.7%
Total liabilities / total assets.
Net debt
$676.8M
Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA
61.1x
Net debt / EBITDA (twelve months), when EBITDA is positive.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$11.54
Revenue / diluted weighted shares.
Operating cash flow per share
-$0.99
Cash from operations / diluted weighted shares.
Book value per share
$7.92
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
5.10x
Market cap / revenue.
P/B
7.44x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
11.3x
Market cap / tangible book value, when positive.
EV/Sales
6.00x
Enterprise value / revenue.
EV/EBITDA
406x
Enterprise value / EBITDA, when both are positive.
Earnings yield
-1.7%
Net income / market cap (the inverse of P/E).
What was Atlanta Braves Holdings, Inc.'s revenue in fiscal 2025?
Atlanta Braves Holdings, Inc. reported revenue of $732.5M for fiscal 2025, 10.5% higher than the year before.
Was Atlanta Braves Holdings, Inc. profitable in fiscal 2025?
No. It reported a net loss of $23.4M.
How much free cash flow did Atlanta Braves Holdings, Inc. generate in fiscal 2025?
Cash from operations of $25.2M minus capital expenditures of $93.7M left free cash flow of -$68.5M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.