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Side-by-side financial comparison of Atlanta Braves Holdings, Inc. (BATRA) and Lifeway Foods, Inc. (LWAY). 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 $55.4M, roughly 1.1× Lifeway Foods, Inc.). Lifeway Foods, Inc. runs the higher net margin — 4.6% vs -67.6%, a 72.2% gap on every dollar of revenue. On growth, Lifeway Foods, Inc. posted the faster year-over-year revenue change (18.0% vs 17.6%). Over the past eight quarters, Lifeway Foods, Inc.'s revenue compounded faster (11.4% 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.
Lifeway Foods is an Illinois-based health food company founded in 1986. They are a leading U.S. supplier of kefir and fermented probiotic products to support the microbiome.
BATRA vs LWAY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $61.3M | $55.4M |
| Net Profit | $-41.4M | $2.5M |
| Gross Margin | — | 27.8% |
| Operating Margin | -81.2% | 6.8% |
| Net Margin | -67.6% | 4.6% |
| Revenue YoY | 17.6% | 18.0% |
| Net Profit YoY | -116.7% | 1688.1% |
| EPS (diluted) | $-0.64 | $0.15 |
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 | $55.4M | ||
| Q3 25 | $311.5M | $57.1M | ||
| Q2 25 | $312.4M | $53.9M | ||
| Q1 25 | $47.2M | $46.1M | ||
| Q4 24 | $52.1M | $46.9M | ||
| Q3 24 | $290.7M | $46.1M | ||
| Q2 24 | $282.9M | $49.2M | ||
| Q1 24 | — | $44.6M |
| Q4 25 | $-41.4M | $2.5M | ||
| Q3 25 | $30.0M | $3.5M | ||
| Q2 25 | $29.5M | $4.2M | ||
| Q1 25 | $-41.4M | $3.5M | ||
| Q4 24 | $-19.1M | $-160.0K | ||
| Q3 24 | $10.0M | $3.0M | ||
| Q2 24 | $29.1M | $3.8M | ||
| Q1 24 | — | $2.4M |
| Q4 25 | — | 27.8% | ||
| Q3 25 | — | 28.7% | ||
| Q2 25 | — | 28.6% | ||
| Q1 25 | — | 23.9% | ||
| Q4 24 | — | 25.3% | ||
| Q3 24 | — | 25.7% | ||
| Q2 24 | — | 27.0% | ||
| Q1 24 | — | 25.8% |
| Q4 25 | -81.2% | 6.8% | ||
| Q3 25 | 12.5% | 8.8% | ||
| Q2 25 | 13.4% | 10.8% | ||
| Q1 25 | -94.2% | 3.4% | ||
| Q4 24 | -35.8% | 1.5% | ||
| Q3 24 | 2.2% | 9.1% | ||
| Q2 24 | 8.8% | 11.0% | ||
| Q1 24 | — | 8.0% |
| Q4 25 | -67.6% | 4.6% | ||
| Q3 25 | 9.6% | 6.2% | ||
| Q2 25 | 9.4% | 7.9% | ||
| Q1 25 | -87.7% | 7.7% | ||
| Q4 24 | -36.7% | -0.3% | ||
| Q3 24 | 3.4% | 6.5% | ||
| Q2 24 | 10.3% | 7.7% | ||
| Q1 24 | — | 5.4% |
| Q4 25 | $-0.64 | $0.15 | ||
| Q3 25 | $0.47 | $0.23 | ||
| Q2 25 | $0.46 | $0.28 | ||
| Q1 25 | $-0.66 | $0.23 | ||
| Q4 24 | $-0.29 | $0.00 | ||
| Q3 24 | $0.16 | $0.19 | ||
| Q2 24 | $0.46 | $0.25 | ||
| Q1 24 | — | $0.16 |
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 | $5.6M |
| Total DebtLower is stronger | $738.6M | — |
| Stockholders' EquityBook value | $526.0M | $85.8M |
| Total Assets | $1.6B | $105.6M |
| Debt / EquityLower = less leverage | 1.40× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $99.9M | $5.6M | ||
| Q3 25 | $82.2M | $23.0M | ||
| Q2 25 | $96.2M | $21.2M | ||
| Q1 25 | $244.7M | $19.4M | ||
| Q4 24 | $110.1M | $16.7M | ||
| Q3 24 | $100.9M | $20.6M | ||
| Q2 24 | $121.2M | $14.6M | ||
| Q1 24 | — | $12.0M |
| 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 | — | $2.5M |
| Q4 25 | $526.0M | $85.8M | ||
| Q3 25 | $560.3M | $82.8M | ||
| Q2 25 | $522.8M | $78.7M | ||
| Q1 25 | $486.1M | $74.2M | ||
| Q4 24 | $524.2M | $71.9M | ||
| Q3 24 | $530.4M | $71.5M | ||
| Q2 24 | $512.7M | $68.0M | ||
| Q1 24 | — | $63.5M |
| Q4 25 | $1.6B | $105.6M | ||
| Q3 25 | $1.7B | $109.5M | ||
| Q2 25 | $1.7B | $98.3M | ||
| Q1 25 | $1.7B | $93.7M | ||
| Q4 24 | $1.5B | $90.5M | ||
| Q3 24 | $1.6B | $91.3M | ||
| Q2 24 | $1.6B | $84.9M | ||
| Q1 24 | — | $82.8M |
| 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 | — | 0.04× |
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 | $267.0K |
| Free Cash FlowOCF − Capex | — | $-17.4M |
| FCF MarginFCF / Revenue | — | -31.5% |
| Capex IntensityCapex / Revenue | 0.0% | 31.9% |
| Cash ConversionOCF / Net Profit | — | 0.11× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-16.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.4M | $267.0K | ||
| Q3 25 | $-88.8M | $6.9M | ||
| Q2 25 | $-8.1M | $3.9M | ||
| Q1 25 | $95.8M | $-150.0K | ||
| Q4 24 | $28.9M | $-2.6M | ||
| Q3 24 | $-69.0M | $7.5M | ||
| Q2 24 | $-34.3M | $6.5M | ||
| Q1 24 | — | $1.5M |
| Q4 25 | — | $-17.4M | ||
| Q3 25 | — | $1.8M | ||
| Q2 25 | $-82.3M | $1.6M | ||
| Q1 25 | $76.3M | $-2.4M | ||
| Q4 24 | $16.8M | $-3.8M | ||
| Q3 24 | $-85.5M | $5.9M | ||
| Q2 24 | $-64.1M | $5.1M | ||
| Q1 24 | — | $-923.0K |
| Q4 25 | — | -31.5% | ||
| Q3 25 | — | 3.1% | ||
| Q2 25 | -26.3% | 3.0% | ||
| Q1 25 | 161.5% | -5.1% | ||
| Q4 24 | 32.3% | -8.2% | ||
| Q3 24 | -29.4% | 12.8% | ||
| Q2 24 | -22.7% | 10.4% | ||
| Q1 24 | — | -2.1% |
| Q4 25 | 0.0% | 31.9% | ||
| Q3 25 | 0.0% | 9.0% | ||
| Q2 25 | 23.7% | 4.3% | ||
| Q1 25 | 41.3% | 4.8% | ||
| Q4 24 | 23.2% | 2.7% | ||
| Q3 24 | 5.7% | 3.3% | ||
| Q2 24 | 10.5% | 2.9% | ||
| Q1 24 | — | 5.5% |
| Q4 25 | — | 0.11× | ||
| Q3 25 | -2.96× | 1.96× | ||
| Q2 25 | -0.28× | 0.92× | ||
| Q1 25 | — | -0.04× | ||
| Q4 24 | — | — | ||
| Q3 24 | -6.89× | 2.50× | ||
| Q2 24 | -1.18× | 1.73× | ||
| Q1 24 | — | 0.64× |
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% |
LWAY
| Drinkable Kefirotherthan Pro Bugs | $47.8M | 86% |
| Cheese | $4.7M | 8% |
| Cream And Other | $1.7M | 3% |
| Other | $1.2M | 2% |
