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Side-by-side financial comparison of Atlanta Braves Holdings, Inc. (BATRA) and FORRESTER RESEARCH, INC. (FORR). Click either name above to swap in a different company.
FORRESTER RESEARCH, INC. is the larger business by last-quarter revenue ($101.1M vs $61.3M, roughly 1.6× Atlanta Braves Holdings, Inc.). FORRESTER RESEARCH, INC. runs the higher net margin — -33.5% vs -67.6%, a 34.1% gap on every dollar of revenue. On growth, Atlanta Braves Holdings, Inc. posted the faster year-over-year revenue change (17.6% vs -6.5%). Over the past eight quarters, FORRESTER RESEARCH, INC.'s revenue compounded faster (0.5% 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.
Forrester Research, Inc. is a research and advisory firm working in research, consulting and events. Forrester’s clients include large global business, technology and consumer enterprises. The firm is headquartered in Cambridge, MA.
BATRA vs FORR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $61.3M | $101.1M |
| Net Profit | $-41.4M | $-33.9M |
| Gross Margin | — | 56.7% |
| Operating Margin | -81.2% | -36.6% |
| Net Margin | -67.6% | -33.5% |
| Revenue YoY | 17.6% | -6.5% |
| Net Profit YoY | -116.7% | -7941.4% |
| EPS (diluted) | $-0.64 | $-1.75 |
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 | $101.1M | ||
| Q3 25 | $311.5M | $94.3M | ||
| Q2 25 | $312.4M | $111.7M | ||
| Q1 25 | $47.2M | $89.9M | ||
| Q4 24 | $52.1M | $108.0M | ||
| Q3 24 | $290.7M | $102.5M | ||
| Q2 24 | $282.9M | $121.8M | ||
| Q1 24 | — | $100.1M |
| Q4 25 | $-41.4M | $-33.9M | ||
| Q3 25 | $30.0M | $-2.1M | ||
| Q2 25 | $29.5M | $3.9M | ||
| Q1 25 | $-41.4M | $-87.3M | ||
| Q4 24 | $-19.1M | $432.0K | ||
| Q3 24 | $10.0M | $-5.8M | ||
| Q2 24 | $29.1M | $6.3M | ||
| Q1 24 | — | $-6.7M |
| Q4 25 | — | 56.7% | ||
| Q3 25 | — | 60.0% | ||
| Q2 25 | — | 55.5% | ||
| Q1 25 | — | 55.9% | ||
| Q4 24 | — | 58.8% | ||
| Q3 24 | — | 60.5% | ||
| Q2 24 | — | 57.3% | ||
| Q1 24 | — | 54.9% |
| Q4 25 | -81.2% | -36.6% | ||
| Q3 25 | 12.5% | 4.7% | ||
| Q2 25 | 13.4% | 6.2% | ||
| Q1 25 | -94.2% | -97.5% | ||
| Q4 24 | -35.8% | -0.5% | ||
| Q3 24 | 2.2% | -0.7% | ||
| Q2 24 | 8.8% | 9.3% | ||
| Q1 24 | — | -9.3% |
| Q4 25 | -67.6% | -33.5% | ||
| Q3 25 | 9.6% | -2.3% | ||
| Q2 25 | 9.4% | 3.5% | ||
| Q1 25 | -87.7% | -97.1% | ||
| Q4 24 | -36.7% | 0.4% | ||
| Q3 24 | 3.4% | -5.7% | ||
| Q2 24 | 10.3% | 5.2% | ||
| Q1 24 | — | -6.7% |
| Q4 25 | $-0.64 | $-1.75 | ||
| Q3 25 | $0.47 | $-0.11 | ||
| Q2 25 | $0.46 | $0.20 | ||
| Q1 25 | $-0.66 | $-4.62 | ||
| Q4 24 | $-0.29 | $0.02 | ||
| Q3 24 | $0.16 | $-0.30 | ||
| Q2 24 | $0.46 | $0.33 | ||
| Q1 24 | — | $-0.35 |
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 | $63.3M |
| Total DebtLower is stronger | $738.6M | — |
| Stockholders' EquityBook value | $526.0M | $126.5M |
| Total Assets | $1.6B | $404.0M |
| Debt / EquityLower = less leverage | 1.40× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $99.9M | $63.3M | ||
| Q3 25 | $82.2M | $65.1M | ||
| Q2 25 | $96.2M | $67.8M | ||
| Q1 25 | $244.7M | $75.6M | ||
| Q4 24 | $110.1M | $56.1M | ||
| Q3 24 | $100.9M | $62.8M | ||
| Q2 24 | $121.2M | $58.9M | ||
| Q1 24 | — | $61.4M |
| 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 24 | — | — |
| Q4 25 | $526.0M | $126.5M | ||
| Q3 25 | $560.3M | $157.7M | ||
| Q2 25 | $522.8M | $159.5M | ||
| Q1 25 | $486.1M | $147.4M | ||
| Q4 24 | $524.2M | $229.5M | ||
| Q3 24 | $530.4M | $234.3M | ||
| Q2 24 | $512.7M | $237.1M | ||
| Q1 24 | — | $230.9M |
| Q4 25 | $1.6B | $404.0M | ||
| Q3 25 | $1.7B | $414.2M | ||
| Q2 25 | $1.7B | $436.0M | ||
| Q1 25 | $1.7B | $439.8M | ||
| Q4 24 | $1.5B | $503.9M | ||
| Q3 24 | $1.6B | $505.3M | ||
| Q2 24 | $1.6B | $524.2M | ||
| Q1 24 | — | $555.7M |
| 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× | — | ||
| 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 | $26.4M | $-3.2M |
| Free Cash FlowOCF − Capex | — | $-4.3M |
| FCF MarginFCF / Revenue | — | -4.2% |
| Capex IntensityCapex / Revenue | 0.0% | 1.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $18.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.4M | $-3.2M | ||
| Q3 25 | $-88.8M | $1.2M | ||
| Q2 25 | $-8.1M | $-3.6M | ||
| Q1 25 | $95.8M | $26.7M | ||
| Q4 24 | $28.9M | $-1.8M | ||
| Q3 24 | $-69.0M | $264.0K | ||
| Q2 24 | $-34.3M | $-2.9M | ||
| Q1 24 | — | $611.0K |
| Q4 25 | — | $-4.3M | ||
| Q3 25 | — | $524.0K | ||
| Q2 25 | $-82.3M | $-4.2M | ||
| Q1 25 | $76.3M | $26.1M | ||
| Q4 24 | $16.8M | $-2.5M | ||
| Q3 24 | $-85.5M | $-223.0K | ||
| Q2 24 | $-64.1M | $-3.7M | ||
| Q1 24 | — | $-815.0K |
| Q4 25 | — | -4.2% | ||
| Q3 25 | — | 0.6% | ||
| Q2 25 | -26.3% | -3.8% | ||
| Q1 25 | 161.5% | 29.0% | ||
| Q4 24 | 32.3% | -2.3% | ||
| Q3 24 | -29.4% | -0.2% | ||
| Q2 24 | -22.7% | -3.1% | ||
| Q1 24 | — | -0.8% |
| Q4 25 | 0.0% | 1.1% | ||
| Q3 25 | 0.0% | 0.7% | ||
| Q2 25 | 23.7% | 0.5% | ||
| Q1 25 | 41.3% | 0.7% | ||
| Q4 24 | 23.2% | 0.6% | ||
| Q3 24 | 5.7% | 0.5% | ||
| Q2 24 | 10.5% | 0.7% | ||
| Q1 24 | — | 1.4% |
| Q4 25 | — | — | ||
| Q3 25 | -2.96× | — | ||
| Q2 25 | -0.28× | -0.93× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -4.24× | ||
| Q3 24 | -6.89× | — | ||
| Q2 24 | -1.18× | -0.46× | ||
| 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% |
FORR
| Research Segment | $82.2M | 81% |
| Consulting Segment | $16.2M | 16% |
| Billable Expenses | $1.5M | 2% |
| Professional Services | $1.4M | 1% |
