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Atlanta Braves vs Warner Music: revenue, profit, margins and growth compared

Atlanta Braves brought in $732.5M of revenue in fiscal 2025, Warner Music $6.7B in fiscal 2025. Revenue changed by +10.5% at Atlanta Braves and +4.4% at Warner Music on the year before, so Atlanta Braves grew faster. Atlanta Braves kept -3.2% of its revenue as net profit, Warner Music 5.4%. Free cash flow was -$68.5M at Atlanta Braves and $539M at Warner Music.

Side by side, latest fiscal year

BATRAWMG
Fiscal year endedFY2025 (December 31, 2025)FY2025 (September 30, 2025)
Revenue$732.5M$6.7B
Revenue growth+10.5%+4.4%
Net income-$23.4M$365M
Net margin-3.2%5.4%
Free cash flow-$68.5M$539M
Free cash flow margin-9.3%8.0%
Earnings per share (diluted)-$0.37n/a
Cash$99.9M$532M
Debt$738.6M$4.4B
Price to earningsn/an/a
Market value$3.8B$14.2B
Dividend yieldn/a2.69%
Rank by revenue in sector#537 of 1065 · Consumer discretionary#173 of 1065 · Consumer discretionary

Over the years

Revenue
BATRA FY2023: $588.6MBATRA FY2023: $640.7MBATRA FY2024: $662.7MBATRA FY2025: $732.5MWMG FY2018: $4BWMG FY2019: $4.5BWMG FY2020: $4.5BWMG FY2021: $5.3BWMG FY2022: $5.9BWMG FY2023: $6BWMG FY2024: $6.4BWMG FY2025: $6.7BFY18FY19FY20FY21FY22FY23FY24FY25
BATRA $732.5MWMG $6.7B
Net income
BATRA FY2023: -$34.2MBATRA FY2023: -$125.3MBATRA FY2024: -$31.3MBATRA FY2025: -$23.4MWMG FY2018: $307MWMG FY2019: $256MWMG FY2020: -$475MWMG FY2021: $304MWMG FY2022: $551MWMG FY2023: $430MWMG FY2024: $435MWMG FY2025: $365MFY18FY19FY20FY21FY22FY23FY24FY25
BATRA -$23.4MWMG $365M
Net margin
BATRA FY2023: -5.8%BATRA FY2023: -19.6%BATRA FY2024: -4.7%BATRA FY2025: -3.2%WMG FY2018: 7.7%WMG FY2019: 5.7%WMG FY2020: -10.6%WMG FY2021: 5.7%WMG FY2022: 9.3%WMG FY2023: 7.1%WMG FY2024: 6.8%WMG FY2025: 5.4%FY18FY19FY20FY21FY22FY23FY24FY25
BATRA -3.2%WMG 5.4%
Revenue growth
BATRA FY2023: +8.9%BATRA FY2024: +3.4%BATRA FY2025: +10.5%WMG FY2019: +11.7%WMG FY2020: -0.3%WMG FY2021: +18.8%WMG FY2022: +11.7%WMG FY2023: +2.0%WMG FY2024: +6.4%WMG FY2025: +4.4%FY19FY20FY21FY22FY23FY24FY25
BATRA +10.5%WMG +4.4%
Free cash flow
BATRA FY2023: $35.7MBATRA FY2023: -$67.4MBATRA FY2024: -$69.4MBATRA FY2025: -$68.5MWMG FY2018: $351MWMG FY2019: $296MWMG FY2020: $378MWMG FY2021: $545MWMG FY2022: $607MWMG FY2023: $560MWMG FY2024: $638MWMG FY2025: $539MFY18FY19FY20FY21FY22FY23FY24FY25
BATRA -$68.5MWMG $539M

Fiscal years as each company reports them; the two may end in different months.

Questions about Atlanta Braves and Warner Music

Which is bigger by revenue, Atlanta Braves or Warner Music?

Warner Music is bigger by revenue: $6.7B in fiscal 2025, against $732.5M for Atlanta Braves in fiscal 2025.

Which keeps more of its revenue as profit, Atlanta Braves or Warner Music?

Atlanta Braves had a net margin of -3.2% in fiscal 2025; Warner Music had 5.4% in fiscal 2025.

Which grew revenue faster, Atlanta Braves or Warner Music?

In their latest fiscal years revenue changed by +10.5% at Atlanta Braves and +4.4% at Warner Music.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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