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Side-by-side financial comparison of Atlanta Braves Holdings, Inc. (BATRA) and P10, Inc. (PX). Click either name above to swap in a different company.
P10, Inc. is the larger business by last-quarter revenue ($81.0M vs $61.3M, roughly 1.3× Atlanta Braves Holdings, Inc.). P10, Inc. runs the higher net margin — 11.7% vs -67.6%, a 79.3% gap on every dollar of revenue. On growth, Atlanta Braves Holdings, Inc. posted the faster year-over-year revenue change (17.6% vs -4.7%). Over the past eight quarters, P10, Inc.'s revenue compounded faster (10.7% 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.
P10, Inc. is a global alternative investment management firm that offers a diversified portfolio of investment solutions spanning private equity, private credit, real assets and venture capital. It primarily caters to institutional clients including pension funds, endowments, foundations, and high-net-worth individuals across North America, Europe, and Asia Pacific.
BATRA vs PX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $61.3M | $81.0M |
| Net Profit | $-41.4M | $9.5M |
| Gross Margin | — | — |
| Operating Margin | -81.2% | 31.9% |
| Net Margin | -67.6% | 11.7% |
| Revenue YoY | 17.6% | -4.7% |
| Net Profit YoY | -116.7% | 79.0% |
| EPS (diluted) | $-0.64 | $0.08 |
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 | $81.0M | ||
| Q3 25 | $311.5M | $75.9M | ||
| Q2 25 | $312.4M | $72.7M | ||
| Q1 25 | $47.2M | $67.7M | ||
| Q4 24 | $52.1M | $85.0M | ||
| Q3 24 | $290.7M | $74.2M | ||
| Q2 24 | $282.9M | $71.1M | ||
| Q1 24 | — | $66.1M |
| Q4 25 | $-41.4M | $9.5M | ||
| Q3 25 | $30.0M | $2.1M | ||
| Q2 25 | $29.5M | $3.4M | ||
| Q1 25 | $-41.4M | $4.5M | ||
| Q4 24 | $-19.1M | $5.3M | ||
| Q3 24 | $10.0M | $1.4M | ||
| Q2 24 | $29.1M | $7.0M | ||
| Q1 24 | — | $5.0M |
| Q4 25 | -81.2% | 31.9% | ||
| Q3 25 | 12.5% | 14.1% | ||
| Q2 25 | 13.4% | 24.4% | ||
| Q1 25 | -94.2% | 16.6% | ||
| Q4 24 | -35.8% | 26.9% | ||
| Q3 24 | 2.2% | 11.9% | ||
| Q2 24 | 8.8% | 23.7% | ||
| Q1 24 | — | 18.3% |
| Q4 25 | -67.6% | 11.7% | ||
| Q3 25 | 9.6% | 2.8% | ||
| Q2 25 | 9.4% | 4.7% | ||
| Q1 25 | -87.7% | 6.7% | ||
| Q4 24 | -36.7% | 6.2% | ||
| Q3 24 | 3.4% | 1.9% | ||
| Q2 24 | 10.3% | 9.8% | ||
| Q1 24 | — | 7.6% |
| Q4 25 | $-0.64 | $0.08 | ||
| Q3 25 | $0.47 | $0.02 | ||
| Q2 25 | $0.46 | $0.03 | ||
| Q1 25 | $-0.66 | $0.04 | ||
| Q4 24 | $-0.29 | $0.05 | ||
| Q3 24 | $0.16 | $0.01 | ||
| Q2 24 | $0.46 | $0.06 | ||
| Q1 24 | — | $0.04 |
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 | $28.2M |
| Total DebtLower is stronger | $738.6M | $373.2M |
| Stockholders' EquityBook value | $526.0M | $403.5M |
| Total Assets | $1.6B | $928.3M |
| Debt / EquityLower = less leverage | 1.40× | 0.93× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $99.9M | $28.2M | ||
| Q3 25 | $82.2M | $40.0M | ||
| Q2 25 | $96.2M | $33.4M | ||
| Q1 25 | $244.7M | $74.4M | ||
| Q4 24 | $110.1M | $67.5M | ||
| Q3 24 | $100.9M | $61.5M | ||
| Q2 24 | $121.2M | $31.2M | ||
| Q1 24 | — | $29.0M |
| Q4 25 | $738.6M | $373.2M | ||
| Q3 25 | $759.9M | $393.4M | ||
| Q2 25 | $703.1M | $373.0M | ||
| Q1 25 | $699.5M | $357.2M | ||
| Q4 24 | $617.1M | $319.8M | ||
| Q3 24 | $640.1M | $319.4M | ||
| Q2 24 | $600.0M | $300.6M | ||
| Q1 24 | — | $314.0M |
| Q4 25 | $526.0M | $403.5M | ||
| Q3 25 | $560.3M | $396.8M | ||
| Q2 25 | $522.8M | $388.9M | ||
| Q1 25 | $486.1M | $374.3M | ||
| Q4 24 | $524.2M | $386.9M | ||
| Q3 24 | $530.4M | $394.1M | ||
| Q2 24 | $512.7M | $396.9M | ||
| Q1 24 | — | $400.1M |
| Q4 25 | $1.6B | $928.3M | ||
| Q3 25 | $1.7B | $936.0M | ||
| Q2 25 | $1.7B | $932.2M | ||
| Q1 25 | $1.7B | $877.4M | ||
| Q4 24 | $1.5B | $869.3M | ||
| Q3 24 | $1.6B | $857.0M | ||
| Q2 24 | $1.6B | $823.2M | ||
| Q1 24 | — | $832.8M |
| Q4 25 | 1.40× | 0.93× | ||
| Q3 25 | 1.36× | 0.99× | ||
| Q2 25 | 1.34× | 0.96× | ||
| Q1 25 | 1.44× | 0.95× | ||
| Q4 24 | 1.18× | 0.83× | ||
| Q3 24 | 1.21× | 0.81× | ||
| Q2 24 | 1.17× | 0.76× | ||
| Q1 24 | — | 0.78× |
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 | $23.0M |
| Free Cash FlowOCF − Capex | — | $18.1M |
| FCF MarginFCF / Revenue | — | 22.3% |
| Capex IntensityCapex / Revenue | 0.0% | 6.0% |
| Cash ConversionOCF / Net Profit | — | 2.43× |
| TTM Free Cash FlowTrailing 4 quarters | — | $14.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.4M | $23.0M | ||
| Q3 25 | $-88.8M | $-8.6M | ||
| Q2 25 | $-8.1M | $13.4M | ||
| Q1 25 | $95.8M | $-4.7M | ||
| Q4 24 | $28.9M | $101.0M | ||
| Q3 24 | $-69.0M | $27.5M | ||
| Q2 24 | $-34.3M | $34.8M | ||
| Q1 24 | — | $11.0M |
| Q4 25 | — | $18.1M | ||
| Q3 25 | — | $-9.5M | ||
| Q2 25 | $-82.3M | $11.6M | ||
| Q1 25 | $76.3M | $-6.0M | ||
| Q4 24 | $16.8M | $96.6M | ||
| Q3 24 | $-85.5M | $25.2M | ||
| Q2 24 | $-64.1M | $33.9M | ||
| Q1 24 | — | $10.7M |
| Q4 25 | — | 22.3% | ||
| Q3 25 | — | -12.6% | ||
| Q2 25 | -26.3% | 15.9% | ||
| Q1 25 | 161.5% | -8.9% | ||
| Q4 24 | 32.3% | 113.6% | ||
| Q3 24 | -29.4% | 34.0% | ||
| Q2 24 | -22.7% | 47.7% | ||
| Q1 24 | — | 16.2% |
| Q4 25 | 0.0% | 6.0% | ||
| Q3 25 | 0.0% | 1.2% | ||
| Q2 25 | 23.7% | 2.5% | ||
| Q1 25 | 41.3% | 1.9% | ||
| Q4 24 | 23.2% | 5.2% | ||
| Q3 24 | 5.7% | 3.0% | ||
| Q2 24 | 10.5% | 1.3% | ||
| Q1 24 | — | 0.4% |
| Q4 25 | — | 2.43× | ||
| Q3 25 | -2.96× | -4.01× | ||
| Q2 25 | -0.28× | 3.96× | ||
| Q1 25 | — | -1.05× | ||
| Q4 24 | — | 19.12× | ||
| Q3 24 | -6.89× | 19.54× | ||
| Q2 24 | -1.18× | 4.98× | ||
| Q1 24 | — | 2.18× |
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% |
PX
| Management Fees | $78.1M | 96% |
| Advisory Fees | $1.8M | 2% |
