B
Atlanta Braves Holdings, Inc.
BATRACIK 0001958140NasdaqLarge AcceleratedServices-Amusement & Recreation ServicesNevadaFY ends Dec 31
Period
FY 2025
Revenue
$732.49M
Net Income
$-23.37M
Total Assets
$1.61B
Equity
$526.05M
Shares Out
—
Op. Cash Flow
$25.24M
Business
Atlanta Braves Holdings, Inc. is an owner and operator of the Atlanta Braves Major League Baseball franchise and related real estate and corporate assets. It offers baseball operations and fan-facing products and services including ticket sales, concessions, local and national broadcasting rights, advertising sponsorships, suites and premium seating, retail and licensing, and development-related rental and parking income. The company reports results through two segments: Baseball and Mixed-Use Development, which includes The Battery Atlanta and adjacent real estate projects. Its operations and distribution are concentrated in the United States, primarily through home games, regional broadcasters, local sponsorships and leasing at The Battery Atlanta.
Summary from filing dated 2025-03-03
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Revenue | 732 | 663 | 641 | 589 | |
| Selling, general and administrative, including stock-based compensation | 129 | 126 | 125 | 106 | |
| Impairment expense | 30 | — | — | — | |
| Depreciation and amortization | 76 | 63 | 71 | 72 | |
| Total operating costs and expenses | 746 | 702 | 687 | 619 | |
| Operating income (loss) | −14 | −40 | −46 | −31 | |
| Interest expense | −46 | −39 | −38 | −30 | |
| Share of earnings (losses) of affiliates, net (note 5) | 29 | 30 | 27 | 29 | |
| Realized and unrealized gains (losses) on intergroup interests, net | — | — | −83 | −35 | |
| Realized and unrealized gains (losses) on financial instruments, net | −1 | 3 | 2 | 13 | |
| Gains (losses) on dispositions, net | — | — | 2 | 20 | |
| Other, net | 7 | 9 | 6 | 2 | |
| Earnings (loss) before income taxes | −24 | −36 | −129 | −32 | |
| Income tax benefit (expense) (note 9) | 831,000 | 5 | 4 | −3 | |
| Net earnings (loss) | −23 | −31 | −125 | −34 | |
| Less net earnings (loss) attributable to noncontrolling interests | 87,000 | — | — | — | |
| Net earnings (loss) attributable to Atlanta Braves Holdings' shareholders | −23 | −31 | −125 | −34 | |
| Basic net earnings (loss) attributable to Atlanta Braves Holdings, Inc. shareholders per common share (note 2) (in dollars per share) | −0.37 | −0.5 | −2.03 | −0.55 | |
| Diluted net earnings (loss) attributable to Atlanta Braves Holdings, Inc. shareholders per common share (in dollars per share) | −0.37 | −0.5 | −2.03 | −0.55 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 100 | 110 | 125 | 151 | — | |
| Restricted cash | 12 | 2 | 13 | 22 | — | |
| Accounts receivable and contract assets, net of allowance for credit losses of $343 and $238, respectively | 34 | 50 | 63 | 70 | — | |
| Other current assets | 14 | 17 | 17 | 24 | — | |
| Total current assets | 159 | 179 | 218 | 267 | — | |
| Property and equipment, at cost (note 4) | 1,266 | 1,162 | 1,092 | 1,008 | — | |
| Accumulated depreciation | −397 | −354 | −325 | −278 | — | |
| Property and equipment, net | 869 | 807 | 767 | 730 | — | |
| Investments in affiliates, accounted for using the equity method (note 5) | 117 | 109 | 99 | 95 | — | |
| Goodwill | 176 | 176 | 176 | 176 | — | |
| Franchise rights | 124 | 124 | 124 | 124 | — | |
| Intangible assets, Total | 299 | 299 | 299 | 299 | — | |
| Other assets, net | 171 | 129 | 121 | 99 | — | |
| Total assets | 1,615 | 1,524 | 1,504 | 1,491 | — | |
| Accounts payable and accrued liabilities | 43 | 64 | 73 | 55 | — | |
| Deferred revenue and refundable tickets | 110 | 112 | 112 | 105 | — | |
| Current portion of debt (note 6) | 215 | 104 | 42 | 75 | — | |
| Other current liabilities | 8 | 7 | 6 | 6 | — | |
| Total current liabilities | 377 | 287 | 234 | 241 | — | |
| Long-term debt (note 6) | 523 | 513 | 527 | 467 | — | |
| Finance lease liabilities (note 7) | 99 | 104 | 104 | 107 | — | |
| Deferred income tax liabilities (note 9) | 41 | 44 | 50 | 54 | — | |
| Pension liability (note 8) | 2 | 7 | 15 | 15 | — | |
| Other noncurrent liabilities | 35 | 34 | 34 | 28 | — | |
| Total liabilities | 1,077 | 988 | 964 | 1,191 | — | |
| Preferred stock, $.01 par value. Authorized 50,000,000 shares; zero shares issued at December 31, 2025 and December 31, 2024 | — | — | — | — | — | |
| Additional paid-in capital | 1,137 | 1,113 | 1,090 | — | — | |
| Accumulated other comprehensive earnings (loss), net of taxes | −3 | −3 | −7 | −4 | — | |
| Retained earnings (deficit) | −609 | −586 | −554 | −429 | — | |
| Total shareholders' equity | 526 | 524 | 529 | 300 | — | |
| Noncontrolling interests in equity of subsidiaries | 12 | 12 | 12 | — | — | |
| Total equity | 538 | 536 | 541 | 300 | 306 | |
| Commitments and contingencies (note 13) | — | — | — | — | — | |
| Total liabilities and equity | 1,615 | 1,524 | 1,504 | 1,491 | — |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Depreciation and amortization | 76 | 63 | 71 | 72 | |
| Stock-based compensation | 16 | 17 | 13 | 12 | |
| Deferred income tax expense (benefit) | −2 | −9 | −8 | −10 | |
| Cash receipts from returns on equity method investments | 21 | 22 | 22 | 22 | |
| Net cash received (paid) for interest rate swaps | 2 | 6 | 5 | −1 | |
| Other charges (credits), net | 7 | 2 | 1 | 2 | |
| Current and other assets | −57 | −16 | −43 | 10 | |
| Payables and other liabilities | −15 | −2 | 13 | 3 | |
| Net cash provided by (used in) operating activities | 25 | 17 | 2 | 53 | |
| Capital expended for property and equipment | −51 | −86 | −69 | — | |
| Acquisition of real estate assets | −94 | −86 | −69 | −18 | |
| Investments in equity method affiliates and equity securities | — | −334,000 | −125,000 | −5 | |
| Other investing activities, net | 6,000 | 40,000 | 110,000 | 28 | |
| Net cash provided by (used in) investing activities | −145 | −86 | −69 | 53 | |
| Borrowings of debt | 158 | 145 | 83 | 155 | |
| Repayments of debt | −41 | −102 | −56 | −310 | |
| Contribution from noncontrolling interest | — | — | 12 | — | |
| Proceeds (disbursements) from exercise of stock options and other stock issuances | 9 | 6 | −689,000 | — | |
| Other financing activities, net | −7 | −4 | −6 | −9 | |
| Net cash provided by (used in) financing activities | 119 | 45 | 32 | −177 | |
| Net increase (decrease) in cash, cash equivalents and restricted cash | −1 | −25 | −35 | −71 |
Filings
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