Atlanta Braves Holdings, Inc. (BATRA) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-114.8%

-$8.18

vs $55.29 price

Levered DCF

-$18.00

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

1.39

Distress zone

Rating

D+

Overall 1 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-114.84×	-81.6×	-21.07×	-58.34×	-136.9×	-12.44×	-19.64×	254.49×
P/B	5.04×	4.87×	5×	6.78×	5.05×	3.33×	4×	2.85×
P/S	3.62×	3.85×	4.12×	3.45×	2.65×	5.45×	3.18×	2.88×
EV / EBITDA	34.5×	125.81×	119.17×	53.58×	22.12×	-25.24×	60.12×	21.51×
Gross margin	19.9%	22.5%	23.3%	25.8%	33.2%	100.0%	100.0%	100.0%
Operating margin	2.3%	-6.0%	-7.2%	-5.2%	3.4%	-71.9%	-8.2%	0.2%
Net margin	-3.2%	-4.7%	-19.6%	-5.8%	-2.3%	-43.8%	-16.2%	1.1%
Current ratio	0.42×	0.62×	0.93×	1.11×	2.43×	1.41×	1.42×	3.06×
Debt / equity	1.59×	1.38×	1.27×	2.17×	2.35×	2.3×	1.47×	1.1×
Interest coverage	0.36×	-1.02×	-1.23×	-1.03×	0.8×	-4.92×	-1.44×	0.04×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-4.4%	-6.0%	-23.7%	-11.4%	-4.4%	-26.8%	-20.4%	1.1%
Return on invested capital	1.1%	-2.6%	-3.5%	-2.3%	1.3%	-5.9%	-2.7%	-0.2%
Return on assets	-1.4%	-2.1%	-8.3%	-2.3%	-0.8%	-5.0%	-4.8%	0.3%
Free cash flow yield	-1.0%	-2.7%	-2.6%	1.8%	1.8%	-14.0%	-1.9%	5.5%
Earnings yield	-0.9%	-1.2%	-4.7%	-1.7%	-0.9%	-8.0%	-5.1%	0.4%
Enterprise value	$3.4B	$3.2B	$3.2B	$2.5B	$2.1B	$1.5B	$1.9B	$1.7B
Net debt / EBITDA	7.41×	24.3×	20.47×	10.57×	5.99×	-8.8×	12.88×	4.99×
Cash conversion cycle (days)	-10	-18	-18	-2	-38	62	21	17