Latest Ratios: P/E Ratio -152.7x · EV/EBITDA 46.5x · ROE -4.3%. (2012–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $3.6B | $2.7B | $2.6B | $2.6B | $2.0B | $1.5B | $1.5B | $1.5B | $1.3B | $1.1B | $1.0B |
| Enterprise Value | $4.3B | $3.4B | $3.2B | $3.2B | $2.5B | $2.0B | $2.0B | $1.9B | $1.7B | $1.6B | $1.2B |
| P/E Ratio → | -152.73 | — | — | — | — | — | — | — | 254.49 | — | — |
| P/S Ratio | 4.87 | 3.70 | 3.85 | 4.12 | 3.45 | 2.65 | 8.38 | 3.18 | 2.88 | 2.80 | 3.87 |
| P/B Ratio | 6.70 | 5.04 | 4.76 | 4.88 | 6.78 | 5.05 | 5.13 | 4.00 | 2.90 | 2.53 | 2.53 |
| P/FCF | — | — | — | — | 56.89 | 55.37 | — | — | 18.17 | — | — |
| P/OCF | 141.27 | 107.39 | 153.42 | 1624.25 | 38.05 | 24.11 | — | 20.16 | 12.35 | — | 11.38 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.69 | 4.77 | 4.98 | 4.30 | 3.64 | 11.30 | 4.04 | 3.75 | 4.17 | 4.71 |
| EV / EBITDA | 46.52 | 37.25 | 174.10 | 160.72 | 69.24 | 22.71 | — | 60.13 | 21.51 | — | — |
| EV / EBIT | 258.41 | 153.88 | — | — | — | 106.53 | — | — | 75.27 | — | — |
| EV / FCF | — | — | — | — | 70.86 | 75.93 | — | — | 23.66 | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 19.9% | 19.9% | 22.5% | 23.3% | 25.8% | 33.2% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating Margin | 2.3% | 2.3% | -6.0% | -7.2% | -5.2% | 3.4% | -71.9% | -8.2% | 0.2% | -29.3% | -23.3% |
| Net Profit Margin | -3.2% | -3.2% | -4.7% | -19.6% | -5.8% | -2.3% | -43.8% | -16.2% | 1.1% | -6.5% | -23.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -4.3% | -4.3% | -5.8% | -29.8% | -11.5% | -4.4% | -23.3% | -18.9% | 1.2% | -6.0% | -1.6% |
| ROA | -1.5% | -1.5% | -2.1% | -8.4% | -2.2% | -0.8% | -4.9% | -4.5% | 0.3% | -1.5% | -5.2% |
| ROIC | 1.0% | 1.0% | -2.7% | -3.7% | -2.8% | 1.7% | -12.0% | -3.6% | 0.1% | -10.7% | -1.1% |
| ROCE | 1.3% | 1.3% | -3.2% | -3.7% | -2.2% | 1.3% | -9.1% | -2.5% | 0.1% | -7.2% | -5.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.56 | 1.56 | 1.34 | 1.24 | 2.17 | 2.35 | 2.30 | 1.47 | 1.12 | 1.55 | 0.82 |
| Debt / EBITDA | 9.08 | 9.08 | 39.69 | 33.91 | 17.78 | 7.72 | — | 17.31 | 6.38 | — | — |
| Net Debt / Equity | — | 1.35 | 1.14 | 1.01 | 1.66 | 1.88 | 1.78 | 1.09 | 0.88 | 1.24 | 0.55 |
| Net Debt / EBITDA | 7.87 | 7.87 | 33.63 | 27.61 | 13.65 | 6.15 | — | 12.88 | 4.99 | — | — |
| Debt / FCF | — | — | — | — | 13.97 | 20.56 | — | — | 5.49 | — | — |
| Interest Coverage | 0.48 | 0.48 | -0.97 | -1.17 | -0.83 | 0.80 | -4.92 | -1.44 | 0.85 | -3.13 | -78.00 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.42 | 0.42 | 0.62 | 0.93 | 1.11 | 2.43 | 1.41 | 1.42 | 3.06 | 2.42 | 0.83 |
| Quick Ratio | 0.42 | 0.42 | 0.62 | 0.93 | 1.11 | 2.43 | 1.41 | 1.42 | 3.06 | 2.42 | 0.83 |
| Cash Ratio | 0.30 | 0.30 | 0.38 | 0.54 | 0.63 | 1.04 | 0.87 | 0.76 | 1.27 | 1.45 | 0.64 |
| Asset Turnover | — | 0.45 | 0.43 | 0.43 | 0.39 | 0.34 | 0.11 | 0.30 | 0.24 | 0.21 | 0.17 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 16.73 | 27.53 | 35.85 | 43.56 | 25.90 | 61.52 | 21.47 | 17.34 | 30.26 | 20.90 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | 0.4% | — | — |
| FCF Yield | — | — | — | — | 1.8% | 1.8% | — | — | 5.5% | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.3% | 0.0% | 2.8% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.3% | 0.0% | 2.8% | 0.0% |
| Shares Outstanding | — | $64M | $63M | $62M | $62M | $52M | $60M | $51M | $51M | $49M | $49M |
RSN broadcasting revenue volatility
According to current market data, BATRA trades at an EV/EBITDA multiple of 46.52, a valuation that appears to reflect a significant trophy asset premium rather than the company's underlying cash flow generation, which remains inconsistent due to the extreme seasonality of its professional sports and real estate operations.
The negative TTM P/E ratio of -152.73 suggests that investors are currently prioritizing asset ownership and long-term brand value over immediate bottom-line profitability. This valuation implies that the market is pricing in a structural floor provided by the real estate holdings at The Battery, rather than the volatile earnings profile of the baseball operations.
As reported in financial statements, BATRA's operating margin of 2.27% highlights the intense pressure exerted by fixed player compensation costs, which frequently overwhelm the revenue generated during the off-season and create a highly fragile profitability profile that warrants close monitoring by prospective investors.
The wide variance in gross margins, which swung from -74.5% in 2025Q4 to 41.9% in 2026Q1, indicates that the company's earning power is highly sensitive to the timing of media rights payments and ticket sales. Investors should interpret these figures as evidence that the business model requires consistent post-season success to offset the high fixed-cost base of the franchise.
Based on reported figures, the company's ROIC has fluctuated significantly, reaching a low of -3.8% in 2024Q1, which suggests that the capital deployed into stadium infrastructure and player contracts is currently failing to generate returns that exceed the company's cost of capital in the near term.
The erratic ROE trend, oscillating between positive 5.7% and negative 9.9% over the last ten quarters, reflects the heavy burden of depreciation on the asset base. This volatility suggests that the company is struggling to compound capital effectively, as the returns are heavily dependent on non-recurring events like playoff appearances rather than consistent operational efficiency.
Data from recent SEC filings reveals that the company's asset turnover remains extremely low at 0.08, indicating that the massive investment in physical assets like Truist Park and The Battery requires a long-term horizon to achieve meaningful revenue conversion relative to the capital base.
The significant swings in DSO, which reached 127 days in 2024Q1, suggest that the company's cash conversion cycle is heavily influenced by the timing of large, lumpy broadcasting and sponsorship payments. This reliance on seasonal cash inflows creates a structural liquidity risk that is not immediately apparent in annual averages.
Based on an analysis of the business model, the P/E ratio is the most commonly misapplied metric for BATRA, as it fails to account for the massive non-cash depreciation charges associated with stadium infrastructure and player contracts that artificially depress reported earnings for public market participants.
Investors should instead focus on EV/EBITDA or a custom cash flow metric that adjusts for the amortization of intangible assets, as the P/E ratio obscures the true cash-generating capacity of the real estate and sports segments. Relying on P/E in this context may lead to an incorrect assessment of the company's fundamental value and its ability to service debt.
Includes 30+ ratios · 14 years · Updated daily
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Quick answers to the most common questions about buying BATRA stock.
Atlanta Braves Holdings, Inc.'s current P/E ratio is -152.7x. This places it at the 50th percentile of its historical range.
Atlanta Braves Holdings, Inc.'s current EV/EBITDA is 46.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 42.2x.
Atlanta Braves Holdings, Inc.'s return on equity (ROE) is -4.3%. The historical average is -7.2%.
Based on historical data, Atlanta Braves Holdings, Inc. is trading at a P/E of -152.7x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Atlanta Braves Holdings, Inc. has 19.9% gross margin and 2.3% operating margin.
Atlanta Braves Holdings, Inc.'s Debt/EBITDA ratio is 9.1x, indicating high leverage. A ratio above 4x may signal elevated financial risk.