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Side-by-side financial comparison of Atlanta Braves Holdings, Inc. (BATRA) and Black Stone Minerals, L.P. (BSM). Click either name above to swap in a different company.
Black Stone Minerals, L.P. is the larger business by last-quarter revenue ($95.2M vs $72.0M, roughly 1.3× Atlanta Braves Holdings, Inc.). Black Stone Minerals, L.P. runs the higher net margin — 75.9% vs -56.1%, a 132.0% gap on every dollar of revenue. On growth, Atlanta Braves Holdings, Inc. posted the faster year-over-year revenue change (52.5% vs -8.7%). Over the past eight quarters, Black Stone Minerals, L.P.'s revenue compounded faster (-9.7% CAGR vs -49.5%).
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.
Black Stone Minerals, L.P., or Black Stone Minerals, is a Houston, Texas-based oil and natural gas corporation.
BATRA vs BSM — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $72.0M | $95.2M |
| Net Profit | $-40.4M | $72.2M |
| Gross Margin | — | — |
| Operating Margin | — | 78.6% |
| Net Margin | -56.1% | 75.9% |
| Revenue YoY | 52.5% | -8.7% |
| Net Profit YoY | 2.3% | 55.8% |
| EPS (diluted) | $-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 | $61.3M | $95.2M | ||
| Q3 25 | $311.5M | $105.2M | ||
| Q2 25 | $312.4M | $106.7M | ||
| Q1 25 | $47.2M | $115.3M | ||
| Q4 24 | $52.1M | $104.3M | ||
| Q3 24 | $290.7M | $103.2M | ||
| Q2 24 | $282.9M | $115.2M |
| Q1 26 | $-40.4M | — | ||
| Q4 25 | $-41.4M | $72.2M | ||
| Q3 25 | $30.0M | $91.7M | ||
| Q2 25 | $29.5M | $120.0M | ||
| Q1 25 | $-41.4M | $15.9M | ||
| Q4 24 | $-19.1M | $46.3M | ||
| Q3 24 | $10.0M | $92.7M | ||
| Q2 24 | $29.1M | $68.3M |
| Q1 26 | — | — | ||
| Q4 25 | -81.2% | 78.6% | ||
| Q3 25 | 12.5% | 89.5% | ||
| Q2 25 | 13.4% | — | ||
| Q1 25 | -94.2% | 14.9% | ||
| Q4 24 | -35.8% | 45.6% | ||
| Q3 24 | 2.2% | 90.2% | ||
| Q2 24 | 8.8% | 59.5% |
| Q1 26 | -56.1% | — | ||
| Q4 25 | -67.6% | 75.9% | ||
| Q3 25 | 9.6% | 87.2% | ||
| Q2 25 | 9.4% | 112.5% | ||
| Q1 25 | -87.7% | 13.8% | ||
| Q4 24 | -36.7% | 44.4% | ||
| Q3 24 | 3.4% | 89.9% | ||
| Q2 24 | 10.3% | 59.3% |
| Q1 26 | $-0.63 | — | ||
| Q4 25 | $-0.64 | — | ||
| Q3 25 | $0.47 | — | ||
| Q2 25 | $0.46 | — | ||
| Q1 25 | $-0.66 | — | ||
| Q4 24 | $-0.29 | — | ||
| Q3 24 | $0.16 | — | ||
| Q2 24 | $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 | $135.2M | $1.5M |
| Total DebtLower is stronger | $709.2M | — |
| Stockholders' EquityBook value | $519.0M | — |
| Total Assets | $1.7B | $1.3B |
| Debt / EquityLower = less leverage | 1.37× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $135.2M | — | ||
| Q4 25 | $99.9M | $1.5M | ||
| Q3 25 | $82.2M | $2.9M | ||
| Q2 25 | $96.2M | $2.5M | ||
| Q1 25 | $244.7M | $2.4M | ||
| Q4 24 | $110.1M | $2.5M | ||
| Q3 24 | $100.9M | $21.0M | ||
| Q2 24 | $121.2M | $26.7M |
| 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 | $526.0M | — | ||
| Q3 25 | $560.3M | — | ||
| Q2 25 | $522.8M | — | ||
| Q1 25 | $486.1M | — | ||
| Q4 24 | $524.2M | — | ||
| Q3 24 | $530.4M | — | ||
| Q2 24 | $512.7M | — |
| Q1 26 | $1.7B | — | ||
| Q4 25 | $1.6B | $1.3B | ||
| Q3 25 | $1.7B | $1.3B | ||
| Q2 25 | $1.7B | $1.3B | ||
| Q1 25 | $1.7B | $1.2B | ||
| Q4 24 | $1.5B | $1.2B | ||
| Q3 24 | $1.6B | $1.2B | ||
| Q2 24 | $1.6B | $1.2B |
| 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 | — | $65.1M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 0.90× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $26.4M | $65.1M | ||
| Q3 25 | $-88.8M | $99.8M | ||
| Q2 25 | $-8.1M | $80.5M | ||
| Q1 25 | $95.8M | $64.8M | ||
| Q4 24 | $28.9M | $91.0M | ||
| Q3 24 | $-69.0M | $93.2M | ||
| Q2 24 | $-34.3M | $100.4M |
| 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 | — | 0.90× | ||
| Q3 25 | -2.96× | 1.09× | ||
| Q2 25 | -0.28× | 0.67× | ||
| Q1 25 | — | 4.07× | ||
| Q4 24 | — | 1.96× | ||
| Q3 24 | -6.89× | 1.01× | ||
| Q2 24 | -1.18× | 1.47× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BATRA
| Baseball revenue | $45.7M | 64% |
| Baseball event | $23.7M | 33% |
| Broadcasting | $2.5M | 3% |
BSM
| Oil Reserves | $46.4M | 49% |
| Natural Gas Reserves | $44.1M | 46% |
| Real Estate | $4.7M | 5% |
