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Side-by-side financial comparison of Atlanta Braves Holdings, Inc. (BATRA) and Vericel Corp (VCEL). Click either name above to swap in a different company.
Vericel Corp is the larger business by last-quarter revenue ($92.9M vs $61.3M, roughly 1.5× Atlanta Braves Holdings, Inc.). Vericel Corp runs the higher net margin — 25.0% vs -67.6%, a 92.6% gap on every dollar of revenue. On growth, Vericel Corp posted the faster year-over-year revenue change (23.3% vs 17.6%). Over the past eight quarters, Vericel Corp's revenue compounded faster (34.6% 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.
Vericel Corporation is a publicly traded American biopharmaceutical company which was known prior to October 2014 as Aastrom Bio. Aastrom Bio was formed in 1989 in Ann Arbor, Michigan.
BATRA vs VCEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $61.3M | $92.9M |
| Net Profit | $-41.4M | $23.2M |
| Gross Margin | — | 78.7% |
| Operating Margin | -81.2% | 24.1% |
| Net Margin | -67.6% | 25.0% |
| Revenue YoY | 17.6% | 23.3% |
| Net Profit YoY | -116.7% | 17.3% |
| EPS (diluted) | $-0.64 | $0.46 |
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 | $92.9M | ||
| Q3 25 | $311.5M | $67.5M | ||
| Q2 25 | $312.4M | $63.2M | ||
| Q1 25 | $47.2M | $52.6M | ||
| Q4 24 | $52.1M | $75.4M | ||
| Q3 24 | $290.7M | $57.9M | ||
| Q2 24 | $282.9M | $52.7M | ||
| Q1 24 | — | $51.3M |
| Q4 25 | $-41.4M | $23.2M | ||
| Q3 25 | $30.0M | $5.1M | ||
| Q2 25 | $29.5M | $-553.0K | ||
| Q1 25 | $-41.4M | $-11.2M | ||
| Q4 24 | $-19.1M | $19.8M | ||
| Q3 24 | $10.0M | $-901.0K | ||
| Q2 24 | $29.1M | $-4.7M | ||
| Q1 24 | — | $-3.9M |
| Q4 25 | — | 78.7% | ||
| Q3 25 | — | 73.5% | ||
| Q2 25 | — | 73.7% | ||
| Q1 25 | — | 69.0% | ||
| Q4 24 | — | 77.6% | ||
| Q3 24 | — | 71.9% | ||
| Q2 24 | — | 69.5% | ||
| Q1 24 | — | 68.9% |
| Q4 25 | -81.2% | 24.1% | ||
| Q3 25 | 12.5% | 5.1% | ||
| Q2 25 | 13.4% | -3.2% | ||
| Q1 25 | -94.2% | -24.3% | ||
| Q4 24 | -35.8% | 24.5% | ||
| Q3 24 | 2.2% | -4.3% | ||
| Q2 24 | 8.8% | -11.5% | ||
| Q1 24 | — | -10.7% |
| Q4 25 | -67.6% | 25.0% | ||
| Q3 25 | 9.6% | 7.5% | ||
| Q2 25 | 9.4% | -0.9% | ||
| Q1 25 | -87.7% | -21.4% | ||
| Q4 24 | -36.7% | 26.3% | ||
| Q3 24 | 3.4% | -1.6% | ||
| Q2 24 | 10.3% | -8.9% | ||
| Q1 24 | — | -7.5% |
| Q4 25 | $-0.64 | $0.46 | ||
| Q3 25 | $0.47 | $0.10 | ||
| Q2 25 | $0.46 | $-0.01 | ||
| Q1 25 | $-0.66 | $-0.23 | ||
| Q4 24 | $-0.29 | $0.40 | ||
| Q3 24 | $0.16 | $-0.02 | ||
| Q2 24 | $0.46 | $-0.10 | ||
| 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 | $137.5M |
| Total DebtLower is stronger | $738.6M | — |
| Stockholders' EquityBook value | $526.0M | $354.6M |
| Total Assets | $1.6B | $488.0M |
| Debt / EquityLower = less leverage | 1.40× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $99.9M | $137.5M | ||
| Q3 25 | $82.2M | $135.4M | ||
| Q2 25 | $96.2M | $116.9M | ||
| Q1 25 | $244.7M | $112.9M | ||
| Q4 24 | $110.1M | $116.2M | ||
| Q3 24 | $100.9M | $101.7M | ||
| Q2 24 | $121.2M | $102.5M | ||
| Q1 24 | — | $110.6M |
| 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 | $354.6M | ||
| Q3 25 | $560.3M | $321.9M | ||
| Q2 25 | $522.8M | $306.8M | ||
| Q1 25 | $486.1M | $295.5M | ||
| Q4 24 | $524.2M | $292.0M | ||
| Q3 24 | $530.4M | $257.5M | ||
| Q2 24 | $512.7M | $243.0M | ||
| Q1 24 | — | $233.9M |
| Q4 25 | $1.6B | $488.0M | ||
| Q3 25 | $1.7B | $453.3M | ||
| Q2 25 | $1.7B | $435.6M | ||
| Q1 25 | $1.7B | $424.6M | ||
| Q4 24 | $1.5B | $432.7M | ||
| Q3 24 | $1.6B | $390.4M | ||
| Q2 24 | $1.6B | $376.8M | ||
| Q1 24 | — | $356.7M |
| 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 | $15.0M |
| Free Cash FlowOCF − Capex | — | $12.8M |
| FCF MarginFCF / Revenue | — | 13.8% |
| Capex IntensityCapex / Revenue | 0.0% | 2.4% |
| Cash ConversionOCF / Net Profit | — | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | — | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.4M | $15.0M | ||
| Q3 25 | $-88.8M | $22.1M | ||
| Q2 25 | $-8.1M | $8.2M | ||
| Q1 25 | $95.8M | $6.6M | ||
| Q4 24 | $28.9M | $22.2M | ||
| Q3 24 | $-69.0M | $10.2M | ||
| Q2 24 | $-34.3M | $18.5M | ||
| Q1 24 | — | $7.2M |
| Q4 25 | — | $12.8M | ||
| Q3 25 | — | $19.5M | ||
| Q2 25 | $-82.3M | $81.0K | ||
| Q1 25 | $76.3M | $-7.6M | ||
| Q4 24 | $16.8M | $8.5M | ||
| Q3 24 | $-85.5M | $-9.2M | ||
| Q2 24 | $-64.1M | $1.8M | ||
| Q1 24 | — | $-6.8M |
| Q4 25 | — | 13.8% | ||
| Q3 25 | — | 28.8% | ||
| Q2 25 | -26.3% | 0.1% | ||
| Q1 25 | 161.5% | -14.5% | ||
| Q4 24 | 32.3% | 11.2% | ||
| Q3 24 | -29.4% | -15.9% | ||
| Q2 24 | -22.7% | 3.4% | ||
| Q1 24 | — | -13.3% |
| Q4 25 | 0.0% | 2.4% | ||
| Q3 25 | 0.0% | 3.9% | ||
| Q2 25 | 23.7% | 12.9% | ||
| Q1 25 | 41.3% | 27.0% | ||
| Q4 24 | 23.2% | 18.3% | ||
| Q3 24 | 5.7% | 33.5% | ||
| Q2 24 | 10.5% | 31.8% | ||
| Q1 24 | — | 27.3% |
| Q4 25 | — | 0.65× | ||
| Q3 25 | -2.96× | 4.35× | ||
| Q2 25 | -0.28× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.12× | ||
| 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% |
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
