Atlanta Braves Holdings, Inc. (BATRK) 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

-116.5%

-$8.30

vs $50.43 price

Levered DCF

-$17.87

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

1.24

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	-106.62×	-76.52×	-19.59×	-58.6×	-133.81×	-19.14×	-23.44×	303.54×
P/B	4.68×	4.47×	4.63×	6.64×	5.86×	5.13×	4.77×	3.4×
P/S	3.36×	3.53×	3.82×	3.38×	3.08×	8.39×	3.79×	3.44×
EV / EBITDA	32.56×	117.5×	112.02×	52.72×	24.7×	-34.1×	69.19×	19.41×
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	-1.1%	-3.0%	-2.8%	1.8%	1.6%	-9.1%	-1.6%	4.6%
Earnings yield	-0.9%	-1.3%	-5.1%	-1.7%	-0.7%	-5.2%	-4.3%	0.3%
Enterprise value	$3.2B	$3B	$3B	$2.5B	$2.3B	$2B	$2.2B	$1.9B
Net debt / EBITDA	7.41×	24.3×	20.47×	10.57×	5.99×	-8.8×	12.88×	3.92×
Cash conversion cycle (days)	-10	-18	-18	-2	-38	62	21	17