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Side-by-side financial comparison of Apollo Commercial Real Estate Finance, Inc. (ARI) and Atlanta Braves Holdings, Inc. (BATRA). Click either name above to swap in a different company.
Apollo Commercial Real Estate Finance, Inc. is the larger business by last-quarter revenue ($73.3M vs $72.0M, roughly 1.0× Atlanta Braves Holdings, Inc.). Apollo Commercial Real Estate Finance, Inc. runs the higher net margin — 39.9% vs -56.1%, a 96.0% gap on every dollar of revenue. On growth, Atlanta Braves Holdings, Inc. posted the faster year-over-year revenue change (52.5% vs 4.0%). Over the past eight quarters, Apollo Commercial Real Estate Finance, Inc.'s revenue compounded faster (-4.6% CAGR vs -49.5%).
Apollo Commercial Real Estate Finance, Inc. is a real estate investment trust that originates, acquires and manages commercial real estate debt assets including mortgages, mezzanine loans and mortgage-backed securities, primarily operating in the U.S. market to deliver consistent risk-adjusted returns.
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.
ARI vs BATRA — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $73.3M | $72.0M |
| Net Profit | $29.2M | $-40.4M |
| Gross Margin | — | — |
| Operating Margin | 39.7% | — |
| Net Margin | 39.9% | -56.1% |
| Revenue YoY | 4.0% | 52.5% |
| Net Profit YoY | -28.2% | 2.3% |
| EPS (diluted) | $0.19 | $-0.63 |
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.
| Q1 26 | — | $72.0M | ||
| Q4 25 | $73.3M | $61.3M | ||
| Q3 25 | $61.6M | $311.5M | ||
| Q2 25 | $70.9M | $312.4M | ||
| Q1 25 | $65.8M | $47.2M | ||
| Q4 24 | $70.5M | $52.1M | ||
| Q3 24 | $71.6M | $290.7M | ||
| Q2 24 | $81.1M | $282.9M |
| Q1 26 | — | $-40.4M | ||
| Q4 25 | $29.2M | $-41.4M | ||
| Q3 25 | $50.8M | $30.0M | ||
| Q2 25 | $20.7M | $29.5M | ||
| Q1 25 | $26.0M | $-41.4M | ||
| Q4 24 | $40.7M | $-19.1M | ||
| Q3 24 | $-91.5M | $10.0M | ||
| Q2 24 | $35.8M | $29.1M |
| Q1 26 | — | — | ||
| Q4 25 | 39.7% | -81.2% | ||
| Q3 25 | 82.8% | 12.5% | ||
| Q2 25 | 29.4% | 13.4% | ||
| Q1 25 | 39.7% | -94.2% | ||
| Q4 24 | 57.9% | -35.8% | ||
| Q3 24 | -127.8% | 2.2% | ||
| Q2 24 | 44.2% | 8.8% |
| Q1 26 | — | -56.1% | ||
| Q4 25 | 39.9% | -67.6% | ||
| Q3 25 | 82.4% | 9.6% | ||
| Q2 25 | 29.3% | 9.4% | ||
| Q1 25 | 39.5% | -87.7% | ||
| Q4 24 | 57.7% | -36.7% | ||
| Q3 24 | -127.9% | 3.4% | ||
| Q2 24 | 44.1% | 10.3% |
| Q1 26 | — | $-0.63 | ||
| Q4 25 | $0.19 | $-0.64 | ||
| Q3 25 | $0.34 | $0.47 | ||
| Q2 25 | $0.12 | $0.46 | ||
| Q1 25 | $0.16 | $-0.66 | ||
| Q4 24 | $0.25 | $-0.29 | ||
| Q3 24 | $-0.69 | $0.16 | ||
| Q2 24 | $0.23 | $0.46 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $139.8M | $135.2M |
| Total DebtLower is stronger | — | $709.2M |
| Stockholders' EquityBook value | $1.9B | $519.0M |
| Total Assets | $9.9B | $1.7B |
| Debt / EquityLower = less leverage | — | 1.37× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $135.2M | ||
| Q4 25 | $139.8M | $99.9M | ||
| Q3 25 | $245.9M | $82.2M | ||
| Q2 25 | $177.6M | $96.2M | ||
| Q1 25 | $166.4M | $244.7M | ||
| Q4 24 | $317.4M | $110.1M | ||
| Q3 24 | $194.3M | $100.9M | ||
| Q2 24 | $174.7M | $121.2M |
| Q1 26 | — | $709.2M | ||
| Q4 25 | — | $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 26 | — | $519.0M | ||
| Q4 25 | $1.9B | $526.0M | ||
| Q3 25 | $1.9B | $560.3M | ||
| Q2 25 | $1.8B | $522.8M | ||
| Q1 25 | $1.9B | $486.1M | ||
| Q4 24 | $1.9B | $524.2M | ||
| Q3 24 | $1.9B | $530.4M | ||
| Q2 24 | $2.0B | $512.7M |
| Q1 26 | — | $1.7B | ||
| Q4 25 | $9.9B | $1.6B | ||
| Q3 25 | $9.5B | $1.7B | ||
| Q2 25 | $9.8B | $1.7B | ||
| Q1 25 | $8.8B | $1.7B | ||
| Q4 24 | $8.4B | $1.5B | ||
| Q3 24 | $9.1B | $1.6B | ||
| Q2 24 | $9.3B | $1.6B |
| Q1 26 | — | 1.37× | ||
| Q4 25 | — | 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× |
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 | $142.5M | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 4.88× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $142.5M | $26.4M | ||
| Q3 25 | $31.7M | $-88.8M | ||
| Q2 25 | $63.2M | $-8.1M | ||
| Q1 25 | $39.3M | $95.8M | ||
| Q4 24 | $200.3M | $28.9M | ||
| Q3 24 | $47.2M | $-69.0M | ||
| Q2 24 | $50.2M | $-34.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $-82.3M | ||
| Q1 25 | — | $76.3M | ||
| Q4 24 | — | $16.8M | ||
| Q3 24 | — | $-85.5M | ||
| Q2 24 | — | $-64.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -26.3% | ||
| Q1 25 | — | 161.5% | ||
| Q4 24 | — | 32.3% | ||
| Q3 24 | — | -29.4% | ||
| Q2 24 | — | -22.7% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.0% | ||
| Q3 25 | — | 0.0% | ||
| Q2 25 | — | 23.7% | ||
| Q1 25 | — | 41.3% | ||
| Q4 24 | — | 23.2% | ||
| Q3 24 | — | 5.7% | ||
| Q2 24 | — | 10.5% |
| Q1 26 | — | — | ||
| Q4 25 | 4.88× | — | ||
| Q3 25 | 0.62× | -2.96× | ||
| Q2 25 | 3.05× | -0.28× | ||
| Q1 25 | 1.51× | — | ||
| Q4 24 | 4.93× | — | ||
| Q3 24 | — | -6.89× | ||
| Q2 24 | 1.40× | -1.18× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ARI
Segment breakdown not available.
BATRA
| Baseball revenue | $45.7M | 64% |
| Baseball event | $23.7M | 33% |
| Broadcasting | $2.5M | 3% |
