vs
Side-by-side financial comparison of Atlanta Braves Holdings, Inc. (BATRA) and Commerce.com, Inc. (CMRC). Click either name above to swap in a different company.
Commerce.com, Inc. is the larger business by last-quarter revenue ($89.5M vs $61.3M, roughly 1.5× Atlanta Braves Holdings, Inc.). Commerce.com, Inc. runs the higher net margin — -9.3% vs -67.6%, a 58.3% gap on every dollar of revenue. On growth, Atlanta Braves Holdings, Inc. posted the faster year-over-year revenue change (17.6% vs 2.9%). Over the past eight quarters, Commerce.com, Inc.'s revenue compounded faster (5.5% 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.
SPS Commerce, Inc. is a technology and application software company based in the United States that provides cloud-based supply chain management software. The company's headquarters are located in Minneapolis, Minnesota, but it also has a US office in New Jersey, and international locations in Amsterdam, Beijing, Breukelen, Hong Kong, Kyiv, Melbourne, Montpellier, Sydney, and Toronto.
BATRA vs CMRC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $61.3M | $89.5M |
| Net Profit | $-41.4M | $-8.4M |
| Gross Margin | — | 78.3% |
| Operating Margin | -81.2% | -7.4% |
| Net Margin | -67.6% | -9.3% |
| Revenue YoY | 17.6% | 2.9% |
| Net Profit YoY | -116.7% | -250.0% |
| EPS (diluted) | $-0.64 | $-0.11 |
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 | $61.3M | $89.5M | ||
| Q3 25 | $311.5M | $86.0M | ||
| Q2 25 | $312.4M | $84.4M | ||
| Q1 25 | $47.2M | $82.4M | ||
| Q4 24 | $52.1M | $87.0M | ||
| Q3 24 | $290.7M | $83.7M | ||
| Q2 24 | $282.9M | $81.8M | ||
| Q1 24 | — | $80.4M |
| Q4 25 | $-41.4M | $-8.4M | ||
| Q3 25 | $30.0M | $-2.2M | ||
| Q2 25 | $29.5M | $-8.4M | ||
| Q1 25 | $-41.4M | $-353.0K | ||
| Q4 24 | $-19.1M | $-2.4M | ||
| Q3 24 | $10.0M | $-7.0M | ||
| Q2 24 | $29.1M | $-11.3M | ||
| Q1 24 | — | $-6.4M |
| Q4 25 | — | 78.3% | ||
| Q3 25 | — | 78.4% | ||
| Q2 25 | — | 79.0% | ||
| Q1 25 | — | 79.4% | ||
| Q4 24 | — | 77.6% | ||
| Q3 24 | — | 76.3% | ||
| Q2 24 | — | 75.8% | ||
| Q1 24 | — | 77.1% |
| Q4 25 | -81.2% | -7.4% | ||
| Q3 25 | 12.5% | -0.5% | ||
| Q2 25 | 13.4% | -8.0% | ||
| Q1 25 | -94.2% | -2.9% | ||
| Q4 24 | -35.8% | -0.9% | ||
| Q3 24 | 2.2% | -23.0% | ||
| Q2 24 | 8.8% | -16.5% | ||
| Q1 24 | — | -10.2% |
| Q4 25 | -67.6% | -9.3% | ||
| Q3 25 | 9.6% | -2.6% | ||
| Q2 25 | 9.4% | -9.9% | ||
| Q1 25 | -87.7% | -0.4% | ||
| Q4 24 | -36.7% | -2.7% | ||
| Q3 24 | 3.4% | -8.4% | ||
| Q2 24 | 10.3% | -13.8% | ||
| Q1 24 | — | -8.0% |
| Q4 25 | $-0.64 | $-0.11 | ||
| Q3 25 | $0.47 | $-0.03 | ||
| Q2 25 | $0.46 | $-0.10 | ||
| Q1 25 | $-0.66 | $0.00 | ||
| Q4 24 | $-0.29 | $-0.03 | ||
| Q3 24 | $0.16 | $-0.09 | ||
| Q2 24 | $0.46 | $-0.15 | ||
| Q1 24 | — | $-0.08 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $99.9M | $141.1M |
| Total DebtLower is stronger | $738.6M | $157.0M |
| Stockholders' EquityBook value | $526.0M | $39.4M |
| Total Assets | $1.6B | $308.8M |
| Debt / EquityLower = less leverage | 1.40× | 3.99× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $99.9M | $141.1M | ||
| Q3 25 | $82.2M | $142.0M | ||
| Q2 25 | $96.2M | $134.5M | ||
| Q1 25 | $244.7M | $120.7M | ||
| Q4 24 | $110.1M | $178.2M | ||
| Q3 24 | $100.9M | $168.4M | ||
| Q2 24 | $121.2M | $275.8M | ||
| Q1 24 | — | $265.2M |
| Q4 25 | $738.6M | $157.0M | ||
| Q3 25 | $759.9M | $157.3M | ||
| Q2 25 | $703.1M | $157.5M | ||
| Q1 25 | $699.5M | $157.8M | ||
| Q4 24 | $617.1M | $216.5M | ||
| Q3 24 | $640.1M | — | ||
| Q2 24 | $600.0M | $340.9M | ||
| Q1 24 | — | $340.5M |
| Q4 25 | $526.0M | $39.4M | ||
| Q3 25 | $560.3M | $42.8M | ||
| Q2 25 | $522.8M | $38.8M | ||
| Q1 25 | $486.1M | $38.1M | ||
| Q4 24 | $524.2M | $33.4M | ||
| Q3 24 | $530.4M | $29.0M | ||
| Q2 24 | $512.7M | $26.1M | ||
| Q1 24 | — | $26.9M |
| Q4 25 | $1.6B | $308.8M | ||
| Q3 25 | $1.7B | $309.5M | ||
| Q2 25 | $1.7B | $302.5M | ||
| Q1 25 | $1.7B | $286.3M | ||
| Q4 24 | $1.5B | $340.3M | ||
| Q3 24 | $1.6B | $335.1M | ||
| Q2 24 | $1.6B | $452.5M | ||
| Q1 24 | — | $442.5M |
| Q4 25 | 1.40× | 3.99× | ||
| Q3 25 | 1.36× | 3.67× | ||
| Q2 25 | 1.34× | 4.06× | ||
| Q1 25 | 1.44× | 4.14× | ||
| Q4 24 | 1.18× | 6.49× | ||
| Q3 24 | 1.21× | — | ||
| Q2 24 | 1.17× | 13.06× | ||
| Q1 24 | — | 12.65× |
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 | $26.4M | $980.0K |
| Free Cash FlowOCF − Capex | — | $-2.2M |
| FCF MarginFCF / Revenue | — | -2.4% |
| Capex IntensityCapex / Revenue | 0.0% | 3.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $16.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.4M | $980.0K | ||
| Q3 25 | $-88.8M | $10.6M | ||
| Q2 25 | $-8.1M | $13.6M | ||
| Q1 25 | $95.8M | $401.0K | ||
| Q4 24 | $28.9M | $12.4M | ||
| Q3 24 | $-69.0M | $5.6M | ||
| Q2 24 | $-34.3M | $11.7M | ||
| Q1 24 | — | $-3.4M |
| Q4 25 | — | $-2.2M | ||
| Q3 25 | — | $7.6M | ||
| Q2 25 | $-82.3M | $11.9M | ||
| Q1 25 | $76.3M | $-424.0K | ||
| Q4 24 | $16.8M | $11.6M | ||
| Q3 24 | $-85.5M | $4.5M | ||
| Q2 24 | $-64.1M | $10.7M | ||
| Q1 24 | — | $-4.2M |
| Q4 25 | — | -2.4% | ||
| Q3 25 | — | 8.8% | ||
| Q2 25 | -26.3% | 14.1% | ||
| Q1 25 | 161.5% | -0.5% | ||
| Q4 24 | 32.3% | 13.3% | ||
| Q3 24 | -29.4% | 5.4% | ||
| Q2 24 | -22.7% | 13.0% | ||
| Q1 24 | — | -5.3% |
| Q4 25 | 0.0% | 3.5% | ||
| Q3 25 | 0.0% | 3.4% | ||
| Q2 25 | 23.7% | 2.0% | ||
| Q1 25 | 41.3% | 1.0% | ||
| Q4 24 | 23.2% | 0.9% | ||
| Q3 24 | 5.7% | 1.3% | ||
| Q2 24 | 10.5% | 1.3% | ||
| Q1 24 | — | 1.0% |
| Q4 25 | — | — | ||
| Q3 25 | -2.96× | — | ||
| Q2 25 | -0.28× | — | ||
| Q1 25 | — | — | ||
| 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
BATRA
| Baseball | $34.8M | 57% |
| Mixed Use Development Segment | $26.5M | 43% |
CMRC
| Subscription And Circulation | $65.2M | 73% |
| Partner And Services | $24.4M | 27% |
