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Side-by-side financial comparison of ACACIA RESEARCH CORP (ACTG) and Atlanta Braves Holdings, Inc. (BATRA). Click either name above to swap in a different company.
Atlanta Braves Holdings, Inc. is the larger business by last-quarter revenue ($61.3M vs $50.1M, roughly 1.2× ACACIA RESEARCH CORP). ACACIA RESEARCH CORP runs the higher net margin — 6.8% vs -67.6%, a 74.4% gap on every dollar of revenue. On growth, Atlanta Braves Holdings, Inc. posted the faster year-over-year revenue change (17.6% vs 2.6%). Over the past eight quarters, ACACIA RESEARCH CORP's revenue compounded faster (43.6% CAGR vs -52.5%).
Acacia Research Corporation is a publicly traded American company based in New York City. It acquires and operates businesses in industries including the technology, energy, and industrial/manufacturing sectors. Acacia has a strategic relationship with Starboard Value, LP, the company's controlling shareholder. The company has been characterized as a patent troll.
Atlanta Braves Holdings, Inc. is a sports and entertainment holding company that owns and operates the Atlanta Braves MLB franchise. It also manages adjacent mixed-use real estate, live events, merchandise sales, and media operations, serving fans across the U.S. Southeast and global baseball audiences.
ACTG vs BATRA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $50.1M | $61.3M |
| Net Profit | $3.4M | $-41.4M |
| Gross Margin | 12.8% | — |
| Operating Margin | -26.1% | -81.2% |
| Net Margin | 6.8% | -67.6% |
| Revenue YoY | 2.6% | 17.6% |
| Net Profit YoY | 125.5% | -116.7% |
| EPS (diluted) | $0.03 | $-0.64 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $50.1M | $61.3M | ||
| Q3 25 | $59.4M | $311.5M | ||
| Q2 25 | $51.2M | $312.4M | ||
| Q1 25 | $124.4M | $47.2M | ||
| Q4 24 | $48.8M | $52.1M | ||
| Q3 24 | $23.3M | $290.7M | ||
| Q2 24 | $25.8M | $282.9M | ||
| Q1 24 | $24.3M | — |
| Q4 25 | $3.4M | $-41.4M | ||
| Q3 25 | $-2.7M | $30.0M | ||
| Q2 25 | $-3.3M | $29.5M | ||
| Q1 25 | $24.3M | $-41.4M | ||
| Q4 24 | $-13.4M | $-19.1M | ||
| Q3 24 | $-14.0M | $10.0M | ||
| Q2 24 | $-8.4M | $29.1M | ||
| Q1 24 | $-186.0K | — |
| Q4 25 | 12.8% | — | ||
| Q3 25 | 21.2% | — | ||
| Q2 25 | 12.8% | — | ||
| Q1 25 | 47.4% | — | ||
| Q4 24 | 17.6% | — | ||
| Q3 24 | 10.1% | — | ||
| Q2 24 | 26.2% | — | ||
| Q1 24 | 49.2% | — |
| Q4 25 | -26.1% | -81.2% | ||
| Q3 25 | -10.8% | 12.5% | ||
| Q2 25 | -24.2% | 13.4% | ||
| Q1 25 | 30.8% | -94.2% | ||
| Q4 24 | -32.4% | -35.8% | ||
| Q3 24 | -44.1% | 2.2% | ||
| Q2 24 | -18.4% | 8.8% | ||
| Q1 24 | -8.6% | — |
| Q4 25 | 6.8% | -67.6% | ||
| Q3 25 | -4.6% | 9.6% | ||
| Q2 25 | -6.4% | 9.4% | ||
| Q1 25 | 19.5% | -87.7% | ||
| Q4 24 | -27.5% | -36.7% | ||
| Q3 24 | -60.0% | 3.4% | ||
| Q2 24 | -32.7% | 10.3% | ||
| Q1 24 | -0.8% | — |
| Q4 25 | $0.03 | $-0.64 | ||
| Q3 25 | $-0.03 | $0.47 | ||
| Q2 25 | $-0.03 | $0.46 | ||
| Q1 25 | $0.25 | $-0.66 | ||
| Q4 24 | $-0.14 | $-0.29 | ||
| Q3 24 | $-0.14 | $0.16 | ||
| Q2 24 | $-0.08 | $0.46 | ||
| Q1 24 | $0.00 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $306.7M | $99.9M |
| Total DebtLower is stronger | $91.9M | $738.6M |
| Stockholders' EquityBook value | $543.5M | $526.0M |
| Total Assets | $771.0M | $1.6B |
| Debt / EquityLower = less leverage | 0.17× | 1.40× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $306.7M | $99.9M | ||
| Q3 25 | $301.8M | $82.2M | ||
| Q2 25 | $316.7M | $96.2M | ||
| Q1 25 | $272.0M | $244.7M | ||
| Q4 24 | $273.9M | $110.1M | ||
| Q3 24 | $410.9M | $100.9M | ||
| Q2 24 | $441.9M | $121.2M | ||
| Q1 24 | $498.4M | — |
| Q4 25 | $91.9M | $738.6M | ||
| Q3 25 | — | $759.9M | ||
| Q2 25 | — | $703.1M | ||
| Q1 25 | — | $699.5M | ||
| Q4 24 | — | $617.1M | ||
| Q3 24 | — | $640.1M | ||
| Q2 24 | — | $600.0M | ||
| Q1 24 | — | — |
| Q4 25 | $543.5M | $526.0M | ||
| Q3 25 | $537.6M | $560.3M | ||
| Q2 25 | $538.6M | $522.8M | ||
| Q1 25 | $540.2M | $486.1M | ||
| Q4 24 | $514.8M | $524.2M | ||
| Q3 24 | $540.2M | $530.4M | ||
| Q2 24 | $560.7M | $512.7M | ||
| Q1 24 | $568.3M | — |
| Q4 25 | $771.0M | $1.6B | ||
| Q3 25 | $768.9M | $1.7B | ||
| Q2 25 | $775.5M | $1.7B | ||
| Q1 25 | $801.6M | $1.7B | ||
| Q4 24 | $756.4M | $1.5B | ||
| Q3 24 | $707.6M | $1.6B | ||
| Q2 24 | $753.6M | $1.6B | ||
| Q1 24 | $631.7M | — |
| Q4 25 | 0.17× | 1.40× | ||
| Q3 25 | — | 1.36× | ||
| Q2 25 | — | 1.34× | ||
| Q1 25 | — | 1.44× | ||
| Q4 24 | — | 1.18× | ||
| Q3 24 | — | 1.21× | ||
| Q2 24 | — | 1.17× | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $75.2M | $26.4M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | 0.0% |
| Cash ConversionOCF / Net Profit | 22.01× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.2M | $26.4M | ||
| Q3 25 | $9.5M | $-88.8M | ||
| Q2 25 | $50.1M | $-8.1M | ||
| Q1 25 | $2.4M | $95.8M | ||
| Q4 24 | $50.1M | $28.9M | ||
| Q3 24 | $-593.0K | $-69.0M | ||
| Q2 24 | $16.1M | $-34.3M | ||
| Q1 24 | $54.8M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $-82.3M | ||
| Q1 25 | $335.0K | $76.3M | ||
| Q4 24 | $-98.5M | $16.8M | ||
| Q3 24 | $-2.8M | $-85.5M | ||
| Q2 24 | $-126.7M | $-64.1M | ||
| Q1 24 | $54.6M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -26.3% | ||
| Q1 25 | 0.3% | 161.5% | ||
| Q4 24 | -201.8% | 32.3% | ||
| Q3 24 | -12.1% | -29.4% | ||
| Q2 24 | -490.5% | -22.7% | ||
| Q1 24 | 224.4% | — |
| Q4 25 | — | 0.0% | ||
| Q3 25 | — | 0.0% | ||
| Q2 25 | — | 23.7% | ||
| Q1 25 | 1.7% | 41.3% | ||
| Q4 24 | 304.4% | 23.2% | ||
| Q3 24 | 9.6% | 5.7% | ||
| Q2 24 | 553.0% | 10.5% | ||
| Q1 24 | 1.1% | — |
| Q4 25 | 22.01× | — | ||
| Q3 25 | — | -2.96× | ||
| Q2 25 | — | -0.28× | ||
| Q1 25 | 0.10× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -6.89× | ||
| Q2 24 | — | -1.18× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ACTG
| Energy Operations | $16.0M | 32% |
| Transportation Safety | $10.4M | 21% |
| Office Storage And Display Solutions | $8.4M | 17% |
| Printers Consumables And Parts | $6.5M | 13% |
| Natural Gas Reserves | $5.1M | 10% |
| Natural Gas Liquids Reserves | $3.3M | 7% |
BATRA
| Baseball | $34.8M | 57% |
| Mixed Use Development Segment | $26.5M | 43% |
