Comprehensive Stock Comparison
Compare Madison Square Garden Entertainment Corp. (MSGE) vs Atlanta Braves Holdings, Inc. (BATRA) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | BATRA | 10.5% revenue growth vs MSGE's -1.7% |
| Quality / Margins | MSGE | 5.1% net margin vs BATRA's -3.2% |
| Stability / Safety | BATRA | Beta 0.48 vs MSGE's 0.99 |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | MSGE | +82.9% vs BATRA's +9.7% |
| Efficiency (ROA) | MSGE | 2.8% ROA vs BATRA's -1.4%, ROIC 8.5% vs 1.0% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Madison Square Garden Entertainment is a live entertainment company that produces and hosts concerts, sporting events, and theatrical productions in iconic venues like Madison Square Garden and Radio City Music Hall. It generates revenue primarily from ticket sales, venue rentals, and food/beverage concessions at its events — supplemented by operating high-end dining and nightlife venues under brands like Tao and Marquee. The company's key advantage is its ownership of legendary, irreplaceable venues in prime New York City locations that attract top-tier talent and command premium pricing.
Atlanta Braves Holdings is a professional sports franchise that owns and operates the Atlanta Braves Major League Baseball team and its surrounding real estate development. The company generates revenue primarily from baseball operations — including ticket sales, media rights, and sponsorships — and from The Battery Atlanta mixed-use development, which includes retail, dining, and entertainment venues. Its key competitive advantage is the unique combination of a historic MLB franchise with a successful real estate ecosystem that creates multiple revenue streams beyond traditional sports operations.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
MSGE leads in 3 of 6 categories (Financial Metrics, Valuation Metrics). BATRA leads in 1 (Total Returns). 1 tied.
Financial Metrics (TTM)
MSGE and BATRA operate at a comparable scale, with $1.0B and $732M in trailing revenue. MSGE is the more profitable business, keeping 5.1% of every revenue dollar as net income compared to BATRA's -3.2%. On growth, BATRA holds the edge at +17.6% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | MSGEMadison Square Ga… | BATRAAtlanta Braves Ho… |
|---|---|---|
| RevenueTrailing 12 months | $1.0B | $732M |
| EBITDAEarnings before interest/tax | $195M | $92M |
| Net IncomeAfter-tax profit | $52M | -$23M |
| Free Cash FlowCash after capex | $207M | -$120M |
| Gross MarginGross profit ÷ Revenue | +46.1% | +19.9% |
| Operating MarginEBIT ÷ Revenue | +13.5% | +2.3% |
| Net MarginNet income ÷ Revenue | +5.1% | -3.2% |
| FCF MarginFCF ÷ Revenue | +20.4% | -16.4% |
| Rev. Growth (YoY)Latest quarter vs prior year | +12.9% | +17.6% |
| EPS Growth (YoY)Latest quarter vs prior year | +24.4% | -109.7% |
Valuation Metrics
On an enterprise value basis, MSGE's 20.6x EV/EBITDA is more attractive than BATRA's 35.1x.
| Metric | MSGEMadison Square Ga… | BATRAAtlanta Braves Ho… |
|---|---|---|
| Market CapShares × price | $2.6B | $2.5B |
| Enterprise ValueMkt cap + debt − cash | $3.7B | $3.2B |
| Trailing P/EPrice ÷ TTM EPS | 82.00x | -130.84x |
| Forward P/EPrice ÷ next-FY EPS est. | 52.74x | — |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 20.62x | 35.07x |
| Price / SalesMarket cap ÷ Revenue | 2.71x | 3.43x |
| Price / BookPrice ÷ Book value/share | — | 5.74x |
| Price / FCFMarket cap ÷ FCF | 27.41x | — |
Profitability & Efficiency
MSGE delivers a 144.2% return on equity — every $100 of shareholder capital generates $144 in annual profit, vs $-4 for BATRA. On the Piotroski fundamental quality scale (0–9), MSGE scores 6/9 vs BATRA's 4/9, reflecting solid financial health.
| Metric | MSGEMadison Square Ga… | BATRAAtlanta Braves Ho… |
|---|---|---|
| ROE (TTM)Return on equity | +144.2% | -4.3% |
| ROA (TTM)Return on assets | +2.8% | -1.4% |
| ROICReturn on invested capital | +8.5% | +1.0% |
| ROCEReturn on capital employed | +11.0% | +1.3% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 4 |
| Debt / EquityFinancial leverage | — | 1.56x |
| Net DebtTotal debt minus cash | $1.2B | $726M |
| Cash & Equiv.Liquid assets | $43M | $112M |
| Total DebtShort + long-term debt | $1.2B | $837M |
| Interest CoverageEBIT ÷ Interest expense | 3.08x | 0.95x |
Total Returns (with DRIP)
A $10,000 investment in BATRA five years ago would be worth $16,198 today (with dividends reinvested), compared to $5,752 for MSGE. Over the past 12 months, MSGE leads with a +82.9% total return vs BATRA's +9.7%. The 3-year compound annual growth rate (CAGR) favors BATRA at 12.2% vs MSGE's 1.4% — a key indicator of consistent wealth creation.
| Metric | MSGEMadison Square Ga… | BATRAAtlanta Braves Ho… |
|---|---|---|
| YTD ReturnYear-to-date | +16.2% | +12.7% |
| 1-Year ReturnPast 12 months | +82.9% | +9.7% |
| 3-Year ReturnCumulative with dividends | +4.3% | +41.3% |
| 5-Year ReturnCumulative with dividends | -42.5% | +62.0% |
| 10-Year ReturnCumulative with dividends | -28.7% | +143.9% |
| CAGR (3Y)Annualised 3-year return | +1.4% | +12.2% |
Risk & Volatility
BATRA is the less volatile stock with a 0.48 beta — it tends to amplify market swings less than MSGE's 0.99 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | MSGEMadison Square Ga… | BATRAAtlanta Braves Ho… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.99x | 0.48x |
| 52-Week HighHighest price in past year | $65.20 | $50.50 |
| 52-Week LowLowest price in past year | $28.29 | $38.67 |
| % of 52W HighCurrent price vs 52-week peak | +96.8% | +95.9% |
| RSI (14)Momentum oscillator 0–100 | 54.4 | 72.4 |
| Avg Volume (50D)Average daily shares traded | 276K | 53K |
Analyst Outlook
Wall Street rates MSGE as "Buy" and BATRA as "Buy".
| Metric | MSGEMadison Square Ga… | BATRAAtlanta Braves Ho… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $66.00 | — |
| # AnalystsCovering analysts | 12 | 5 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | — | 0 |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | +1.6% | 0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Apr 20 | Feb 26 | Change |
|---|---|---|---|
| Madison Square Gard… (MSGE) | 100 | 69.98 | -30.0% |
| Atlanta Braves Hold… (BATRA) | 100 | 222.62 | +122.6% |
Atlanta Braves Hold… (BATRA) returned +62% over 5 years vs Madison Square Gard… (MSGE)'s -42%. A $10,000 investment in BATRA 5 years ago would be worth $16,198 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Madison Square Gard… (MSGE) | $989M | $943M | -4.7% |
| Atlanta Braves Hold… (BATRA) | $262M | $732M | +179.6% |
Atlanta Braves Holdings, Inc.'s revenue grew from $262M (2016) to $732M (2025) — a 12.1% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Madison Square Gard… (MSGE) | 0.7% | 4.0% | +469.2% |
| Atlanta Braves Hold… (BATRA) | -23.7% | -3.2% | +86.5% |
Atlanta Braves Holdings, Inc.'s net margin went from -24% (2016) to -3% (2025).
Chart 4P/E Ratio History — 4 Years
| Stock | 2020 | 2025 | Change |
|---|---|---|---|
| Madison Square Gard… (MSGE) | 14.7 | 70 | +376.2% |
Madison Square Garden Entertainment Corp. has traded in a 12x–70x P/E range over 4 years; current trailing P/E is ~82x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Madison Square Gard… (MSGE) | 0.29 | 0.77 | +165.5% |
| Atlanta Braves Hold… (BATRA) | -1.25 | -0.37 | +70.4% |
Atlanta Braves Holdings, Inc.'s EPS grew from $-1.25 (2016) to $-0.37 (2025).
Chart 6Free Cash Flow — 5 Years
Madison Square Garden Entertainment Corp. generated $93M FCF in 2025 (+159% vs 2021). Atlanta Braves Holdings, Inc. generated $-120M FCF in 2025 (-544% vs 2021).
MSGE vs BATRA: Frequently Asked Questions
7 questions · data-driven answers · updated daily
01Is MSGE or BATRA a better buy right now?
Madison Square Garden Entertainment Corp. (MSGE) offers the better valuation at 82.0x trailing P/E (52.7x forward), making it the more compelling value choice. Analysts rate Madison Square Garden Entertainment Corp. (MSGE) a "Buy" — based on 12 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which is the better long-term investment — MSGE or BATRA?
Over the past 5 years, Atlanta Braves Holdings, Inc. (BATRA) delivered a total return of +62.0%, compared to -42.5% for Madison Square Garden Entertainment Corp. (MSGE). A $10,000 investment in BATRA five years ago would be worth approximately $16K today (assuming dividends reinvested). Over 10 years, the gap is even starker: BATRA returned +143.9% versus MSGE's -28.7%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — MSGE or BATRA?
By beta (market sensitivity over 5 years), Atlanta Braves Holdings, Inc. (BATRA) is the lower-risk stock at 0.48β versus Madison Square Garden Entertainment Corp.'s 0.99β — meaning MSGE is approximately 104% more volatile than BATRA relative to the S&P 500.
04Which has better profit margins — MSGE or BATRA?
Madison Square Garden Entertainment Corp. (MSGE) is the more profitable company, earning 4.0% net margin versus -3.2% for Atlanta Braves Holdings, Inc. — meaning it keeps 4.0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: MSGE leads at 13.0% versus 2.3% for BATRA. At the gross margin level — before operating expenses — MSGE leads at 43.2%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
05Which pays a better dividend — MSGE or BATRA?
None of the stocks in this comparison currently pay a material dividend. All are effectively zero-yield and should be held for capital appreciation rather than income.
06Is MSGE or BATRA better for a retirement portfolio?
For long-horizon retirement investors, Atlanta Braves Holdings, Inc. (BATRA) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.48), +143.9% 10Y return). Both have compounded well over 10 years (BATRA: +143.9%, MSGE: -28.7%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
07What are the main differences between MSGE and BATRA?
Both stocks operate in the Communication Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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