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Side-by-side financial comparison of Atlanta Braves Holdings, Inc. (BATRA) and Velocity Financial, Inc. (VEL). 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 $51.6M, roughly 1.2× Velocity Financial, Inc.). Velocity Financial, Inc. runs the higher net margin — 67.3% vs -67.6%, a 135.0% gap on every dollar of revenue. On growth, Velocity Financial, Inc. posted the faster year-over-year revenue change (32.8% vs 17.6%). Over the past eight quarters, Velocity Financial, Inc.'s revenue compounded faster (32.3% 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.
Velocity Financial, Inc. is a U.S.-headquartered real estate finance company that offers specialized mortgage loan solutions primarily for residential investment properties. It partners with independent mortgage brokers nationwide, providing real estate investors with short-term bridge loans and long-term rental property financing options tailored to their operational needs.
BATRA vs VEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $61.3M | $51.6M |
| Net Profit | $-41.4M | $34.8M |
| Gross Margin | — | — |
| Operating Margin | -81.2% | 97.0% |
| Net Margin | -67.6% | 67.3% |
| Revenue YoY | 17.6% | 32.8% |
| Net Profit YoY | -116.7% | 67.0% |
| EPS (diluted) | $-0.64 | $0.90 |
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 | $51.6M | ||
| Q3 25 | $311.5M | $49.1M | ||
| Q2 25 | $312.4M | $47.6M | ||
| Q1 25 | $47.2M | $37.5M | ||
| Q4 24 | $52.1M | $38.9M | ||
| Q3 24 | $290.7M | $35.1M | ||
| Q2 24 | $282.9M | $32.4M | ||
| Q1 24 | — | $29.5M |
| Q4 25 | $-41.4M | $34.8M | ||
| Q3 25 | $30.0M | $25.4M | ||
| Q2 25 | $29.5M | $26.0M | ||
| Q1 25 | $-41.4M | $18.9M | ||
| Q4 24 | $-19.1M | $20.8M | ||
| Q3 24 | $10.0M | $15.8M | ||
| Q2 24 | $29.1M | $14.8M | ||
| Q1 24 | — | $17.3M |
| Q4 25 | -81.2% | 97.0% | ||
| Q3 25 | 12.5% | 72.1% | ||
| Q2 25 | 13.4% | 71.3% | ||
| Q1 25 | -94.2% | 71.7% | ||
| Q4 24 | -35.8% | 82.5% | ||
| Q3 24 | 2.2% | 60.6% | ||
| Q2 24 | 8.8% | 61.3% | ||
| Q1 24 | — | 78.8% |
| Q4 25 | -67.6% | 67.3% | ||
| Q3 25 | 9.6% | 51.7% | ||
| Q2 25 | 9.4% | 54.6% | ||
| Q1 25 | -87.7% | 50.4% | ||
| Q4 24 | -36.7% | 53.5% | ||
| Q3 24 | 3.4% | 45.1% | ||
| Q2 24 | 10.3% | 45.6% | ||
| Q1 24 | — | 58.5% |
| Q4 25 | $-0.64 | $0.90 | ||
| Q3 25 | $0.47 | $0.65 | ||
| Q2 25 | $0.46 | $0.69 | ||
| Q1 25 | $-0.66 | $0.51 | ||
| Q4 24 | $-0.29 | $0.56 | ||
| Q3 24 | $0.16 | $0.44 | ||
| Q2 24 | $0.46 | $0.42 | ||
| Q1 24 | — | $0.49 |
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 | $92.1M |
| Total DebtLower is stronger | $738.6M | — |
| Stockholders' EquityBook value | $526.0M | $672.5M |
| Total Assets | $1.6B | $7.4B |
| Debt / EquityLower = less leverage | 1.40× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $99.9M | $92.1M | ||
| Q3 25 | $82.2M | $99.0M | ||
| Q2 25 | $96.2M | $79.6M | ||
| Q1 25 | $244.7M | $51.7M | ||
| Q4 24 | $110.1M | $49.9M | ||
| Q3 24 | $100.9M | $44.1M | ||
| Q2 24 | $121.2M | $47.4M | ||
| Q1 24 | — | $34.8M |
| 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 | $672.5M | ||
| Q3 25 | $560.3M | $634.3M | ||
| Q2 25 | $522.8M | $597.9M | ||
| Q1 25 | $486.1M | $563.2M | ||
| Q4 24 | $524.2M | $516.9M | ||
| Q3 24 | $530.4M | $484.6M | ||
| Q2 24 | $512.7M | $471.3M | ||
| Q1 24 | — | $452.9M |
| Q4 25 | $1.6B | $7.4B | ||
| Q3 25 | $1.7B | $7.0B | ||
| Q2 25 | $1.7B | $6.5B | ||
| Q1 25 | $1.7B | $6.0B | ||
| Q4 24 | $1.5B | $5.5B | ||
| Q3 24 | $1.6B | $5.2B | ||
| Q2 24 | $1.6B | $4.9B | ||
| Q1 24 | — | $4.6B |
| 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 | $18.2M |
| Free Cash FlowOCF − Capex | — | $17.9M |
| FCF MarginFCF / Revenue | — | 34.6% |
| Capex IntensityCapex / Revenue | 0.0% | 0.5% |
| Cash ConversionOCF / Net Profit | — | 0.52× |
| TTM Free Cash FlowTrailing 4 quarters | — | $40.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.4M | $18.2M | ||
| Q3 25 | $-88.8M | $11.5M | ||
| Q2 25 | $-8.1M | $7.7M | ||
| Q1 25 | $95.8M | $3.5M | ||
| Q4 24 | $28.9M | $37.8M | ||
| Q3 24 | $-69.0M | $-17.6M | ||
| Q2 24 | $-34.3M | $11.5M | ||
| Q1 24 | — | $10.6M |
| Q4 25 | — | $17.9M | ||
| Q3 25 | — | $11.4M | ||
| Q2 25 | $-82.3M | $7.6M | ||
| Q1 25 | $76.3M | $3.5M | ||
| Q4 24 | $16.8M | $37.5M | ||
| Q3 24 | $-85.5M | $-17.6M | ||
| Q2 24 | $-64.1M | $11.4M | ||
| Q1 24 | — | $10.5M |
| Q4 25 | — | 34.6% | ||
| Q3 25 | — | 23.2% | ||
| Q2 25 | -26.3% | 15.9% | ||
| Q1 25 | 161.5% | 9.2% | ||
| Q4 24 | 32.3% | 96.4% | ||
| Q3 24 | -29.4% | -50.3% | ||
| Q2 24 | -22.7% | 35.1% | ||
| Q1 24 | — | 35.8% |
| Q4 25 | 0.0% | 0.5% | ||
| Q3 25 | 0.0% | 0.1% | ||
| Q2 25 | 23.7% | 0.2% | ||
| Q1 25 | 41.3% | 0.2% | ||
| Q4 24 | 23.2% | 0.7% | ||
| Q3 24 | 5.7% | 0.2% | ||
| Q2 24 | 10.5% | 0.3% | ||
| Q1 24 | — | 0.1% |
| Q4 25 | — | 0.52× | ||
| Q3 25 | -2.96× | 0.45× | ||
| Q2 25 | -0.28× | 0.29× | ||
| Q1 25 | — | 0.19× | ||
| Q4 24 | — | 1.81× | ||
| Q3 24 | -6.89× | -1.11× | ||
| Q2 24 | -1.18× | 0.78× | ||
| Q1 24 | — | 0.61× |
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% |
VEL
| Related Party | $19.3M | 37% |
| Nonrelated Party | $16.9M | 33% |
| Other | $15.4M | 30% |
