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Side-by-side financial comparison of ADAMAS TRUST, INC. (ADAM) 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 $43.2M, roughly 1.4× ADAMAS TRUST, INC.). ADAMAS TRUST, INC. runs the higher net margin — 124.0% vs -67.6%, a 191.6% gap on every dollar of revenue. On growth, ADAMAS TRUST, INC. posted the faster year-over-year revenue change (61.6% vs 17.6%). Over the past eight quarters, ADAMAS TRUST, INC.'s revenue compounded faster (55.5% CAGR vs -52.5%).
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.
ADAM vs BATRA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.2M | $61.3M |
| Net Profit | $53.5M | $-41.4M |
| Gross Margin | — | — |
| Operating Margin | — | -81.2% |
| Net Margin | 124.0% | -67.6% |
| Revenue YoY | 61.6% | 17.6% |
| Net Profit YoY | 270.5% | -116.7% |
| EPS (diluted) | $0.45 | $-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 | $43.2M | $61.3M | ||
| Q3 25 | $36.6M | $311.5M | ||
| Q2 25 | $36.4M | $312.4M | ||
| Q1 25 | $33.1M | $47.2M | ||
| Q4 24 | $26.7M | $52.1M | ||
| Q3 24 | $20.2M | $290.7M | ||
| Q2 24 | $19.0M | $282.9M | ||
| Q1 24 | $17.9M | — |
| Q4 25 | $53.5M | $-41.4M | ||
| Q3 25 | $44.8M | $30.0M | ||
| Q2 25 | $8.5M | $29.5M | ||
| Q1 25 | $42.2M | $-41.4M | ||
| Q4 24 | $-31.4M | $-19.1M | ||
| Q3 24 | $42.8M | $10.0M | ||
| Q2 24 | $-15.6M | $29.1M | ||
| Q1 24 | $-57.9M | — |
| Q4 25 | — | -81.2% | ||
| Q3 25 | — | 12.5% | ||
| Q2 25 | 11.7% | 13.4% | ||
| Q1 25 | — | -94.2% | ||
| Q4 24 | -119.0% | -35.8% | ||
| Q3 24 | — | 2.2% | ||
| Q2 24 | -124.7% | 8.8% | ||
| Q1 24 | -448.8% | — |
| Q4 25 | 124.0% | -67.6% | ||
| Q3 25 | 122.5% | 9.6% | ||
| Q2 25 | 23.4% | 9.4% | ||
| Q1 25 | 127.4% | -87.7% | ||
| Q4 24 | -117.5% | -36.7% | ||
| Q3 24 | 211.7% | 3.4% | ||
| Q2 24 | -81.9% | 10.3% | ||
| Q1 24 | -324.1% | — |
| Q4 25 | $0.45 | $-0.64 | ||
| Q3 25 | $0.36 | $0.47 | ||
| Q2 25 | $-0.04 | $0.46 | ||
| Q1 25 | $0.33 | $-0.66 | ||
| Q4 24 | $-0.46 | $-0.29 | ||
| Q3 24 | $0.36 | $0.16 | ||
| Q2 24 | $-0.29 | $0.46 | ||
| Q1 24 | $-0.75 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $210.3M | $99.9M |
| Total DebtLower is stronger | $735.8M | $738.6M |
| Stockholders' EquityBook value | $1.4B | $526.0M |
| Total Assets | $12.6B | $1.6B |
| Debt / EquityLower = less leverage | 0.52× | 1.40× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $210.3M | $99.9M | ||
| Q3 25 | $185.3M | $82.2M | ||
| Q2 25 | $160.4M | $96.2M | ||
| Q1 25 | $177.1M | $244.7M | ||
| Q4 24 | $167.4M | $110.1M | ||
| Q3 24 | $195.1M | $100.9M | ||
| Q2 24 | $235.5M | $121.2M | ||
| Q1 24 | $226.9M | — |
| Q4 25 | $735.8M | $738.6M | ||
| Q3 25 | $766.6M | $759.9M | ||
| Q2 25 | $653.0M | $703.1M | ||
| Q1 25 | $654.4M | $699.5M | ||
| Q4 24 | $573.2M | $617.1M | ||
| Q3 24 | $699.4M | $640.1M | ||
| Q2 24 | $800.7M | $600.0M | ||
| Q1 24 | $1.0B | — |
| Q4 25 | $1.4B | $526.0M | ||
| Q3 25 | $1.4B | $560.3M | ||
| Q2 25 | $1.4B | $522.8M | ||
| Q1 25 | $1.4B | $486.1M | ||
| Q4 24 | $1.4B | $524.2M | ||
| Q3 24 | $1.4B | $530.4M | ||
| Q2 24 | $1.4B | $512.7M | ||
| Q1 24 | $1.5B | — |
| Q4 25 | $12.6B | $1.6B | ||
| Q3 25 | $12.4B | $1.7B | ||
| Q2 25 | $10.6B | $1.7B | ||
| Q1 25 | $10.0B | $1.7B | ||
| Q4 24 | $9.2B | $1.5B | ||
| Q3 24 | $8.9B | $1.6B | ||
| Q2 24 | $8.2B | $1.6B | ||
| Q1 24 | $7.4B | — |
| Q4 25 | 0.52× | 1.40× | ||
| Q3 25 | 0.55× | 1.36× | ||
| Q2 25 | 0.47× | 1.34× | ||
| Q1 25 | 0.47× | 1.44× | ||
| Q4 24 | 0.41× | 1.18× | ||
| Q3 24 | 0.48× | 1.21× | ||
| Q2 24 | 0.56× | 1.17× | ||
| Q1 24 | 0.67× | — |
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 | $134.0M | $26.4M |
| Free Cash FlowOCF − Capex | $125.9M | — |
| FCF MarginFCF / Revenue | 291.6% | — |
| Capex IntensityCapex / Revenue | 18.9% | 0.0% |
| Cash ConversionOCF / Net Profit | 2.50× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $134.0M | $26.4M | ||
| Q3 25 | $6.9M | $-88.8M | ||
| Q2 25 | $39.2M | $-8.1M | ||
| Q1 25 | $25.8M | $95.8M | ||
| Q4 24 | $14.1M | $28.9M | ||
| Q3 24 | $-922.0K | $-69.0M | ||
| Q2 24 | $-993.0K | $-34.3M | ||
| Q1 24 | $-13.1M | — |
| Q4 25 | $125.9M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $-82.3M | ||
| Q1 25 | — | $76.3M | ||
| Q4 24 | $-10.6M | $16.8M | ||
| Q3 24 | $-8.6M | $-85.5M | ||
| Q2 24 | $-8.6M | $-64.1M | ||
| Q1 24 | $-19.1M | — |
| Q4 25 | 291.6% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -26.3% | ||
| Q1 25 | — | 161.5% | ||
| Q4 24 | -39.6% | 32.3% | ||
| Q3 24 | -42.3% | -29.4% | ||
| Q2 24 | -44.9% | -22.7% | ||
| Q1 24 | -107.0% | — |
| Q4 25 | 18.9% | 0.0% | ||
| Q3 25 | — | 0.0% | ||
| Q2 25 | — | 23.7% | ||
| Q1 25 | — | 41.3% | ||
| Q4 24 | 92.3% | 23.2% | ||
| Q3 24 | 37.7% | 5.7% | ||
| Q2 24 | 39.7% | 10.5% | ||
| Q1 24 | 33.5% | — |
| Q4 25 | 2.50× | — | ||
| Q3 25 | 0.15× | -2.96× | ||
| Q2 25 | 4.59× | -0.28× | ||
| Q1 25 | 0.61× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -0.02× | -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
ADAM
| Other | $19.6M | 45% |
| Constructive Loans LLC | $14.4M | 33% |
| Multifamily | $9.1M | 21% |
BATRA
| Baseball | $34.8M | 57% |
| Mixed Use Development Segment | $26.5M | 43% |
