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Atlanta Braves Holdings, Inc.（BATRA）与Reservoir Media, Inc.（RSVR）财务数据对比。点击上方公司名可切换其他公司
Atlanta Braves Holdings, Inc.的季度营收约是Reservoir Media, Inc.的1.3倍（$61.3M vs $45.6M）。Reservoir Media, Inc.净利率更高（4.8% vs -67.6%，领先72.4%）。Atlanta Braves Holdings, Inc.同比增速更快（17.6% vs 7.7%）。过去两年Atlanta Braves Holdings, Inc.的营收复合增速更高（28.6% vs 7.9%）
亚特兰大勇士控股有限公司是一家体育娱乐类控股企业，核心持有并运营美国职业棒球大联盟旗下的亚特兰大勇士队，同时开展场馆周边商住开发、活动承办、周边商品销售及传媒业务，服务美国东南部及全球棒球迷。
Reservoir Media是全球领先的独立音乐版权管理企业，拥有并管理海量录音、音乐出版及邻接权版权库，合作各流派知名词曲作者、歌手与制作人，为流媒体平台、影视制作、广告、现场演出等场景提供版权授权服务，业务覆盖北美、欧洲、亚太等主要市场。
BATRA vs RSVR — 直观对比
营收规模更大
BATRA
是对方的1.3倍
$45.6M
营收增速更快
BATRA
高出9.9%
7.7%
净利率更高
RSVR
高出72.4%
-67.6%
两年增速更快
BATRA
近两年复合增速
7.9%
损益表 — Q4 2025 vs Q3 2026
| 指标 | | |
|---|---|---|
| 营收 | $61.3M | $45.6M |
| 净利润 | $-41.4M | $2.2M |
| 毛利率 | — | 64.5% |
| 营业利润率 | -81.2% | 22.7% |
| 净利率 | -67.6% | 4.8% |
| 营收同比 | 17.6% | 7.7% |
| 净利润同比 | -116.7% | -58.1% |
| 每股收益（稀释后） | $-0.64 | $0.03 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收BATRARSVR
| Q4 25 | $61.3M | $45.6M | ||
| Q3 25 | $311.5M | $45.4M | ||
| Q2 25 | $312.4M | $37.2M | ||
| Q1 25 | $47.2M | $41.4M | ||
| Q4 24 | $52.1M | $42.3M | ||
| Q3 24 | $290.7M | $40.7M | ||
| Q2 24 | $282.9M | $34.3M | ||
| Q1 24 | $37.1M | $39.1M |
净利润BATRARSVR
| Q4 25 | $-41.4M | $2.2M | ||
| Q3 25 | $30.0M | $2.3M | ||
| Q2 25 | $29.5M | $-555.7K | ||
| Q1 25 | $-41.4M | $2.7M | ||
| Q4 24 | $-19.1M | $5.2M | ||
| Q3 24 | $10.0M | $185.0K | ||
| Q2 24 | $29.1M | $-346.7K | ||
| Q1 24 | $-51.3M | $2.8M |
毛利率BATRARSVR
| Q4 25 | — | 64.5% | ||
| Q3 25 | — | 63.6% | ||
| Q2 25 | — | 64.5% | ||
| Q1 25 | — | 65.6% | ||
| Q4 24 | — | 64.4% | ||
| Q3 24 | — | 63.5% | ||
| Q2 24 | — | 61.3% | ||
| Q1 24 | — | 63.4% |
营业利润率BATRARSVR
| Q4 25 | -81.2% | 22.7% | ||
| Q3 25 | 12.5% | 23.5% | ||
| Q2 25 | 13.4% | 14.7% | ||
| Q1 25 | -94.2% | 25.2% | ||
| Q4 24 | -35.8% | 22.6% | ||
| Q3 24 | 2.2% | 24.9% | ||
| Q2 24 | 8.8% | 14.5% | ||
| Q1 24 | -141.2% | 22.4% |
净利率BATRARSVR
| Q4 25 | -67.6% | 4.8% | ||
| Q3 25 | 9.6% | 5.0% | ||
| Q2 25 | 9.4% | -1.5% | ||
| Q1 25 | -87.7% | 6.4% | ||
| Q4 24 | -36.7% | 12.4% | ||
| Q3 24 | 3.4% | 0.5% | ||
| Q2 24 | 10.3% | -1.0% | ||
| Q1 24 | -138.3% | 7.1% |
每股收益（稀释后）BATRARSVR
| Q4 25 | $-0.64 | $0.03 | ||
| Q3 25 | $0.47 | $0.03 | ||
| Q2 25 | $0.46 | $-0.01 | ||
| Q1 25 | $-0.66 | — | ||
| Q4 24 | $-0.29 | $0.08 | ||
| Q3 24 | $0.16 | — | ||
| Q2 24 | $0.46 | $-0.01 | ||
| Q1 24 | $-0.83 | — |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $99.9M | $20.6M |
| 总债务越低越好 | $738.6M | — |
| 股东权益账面价值 | $526.0M | $373.6M |
| 总资产 | $1.6B | $941.9M |
| 负债/权益比越低杠杆越低 | 1.40× | — |
8季度趋势，按日历期对齐
现金及短期投资BATRARSVR
| Q4 25 | $99.9M | $20.6M | ||
| Q3 25 | $82.2M | $27.9M | ||
| Q2 25 | $96.2M | $14.9M | ||
| Q1 25 | $244.7M | $21.4M | ||
| Q4 24 | $110.1M | $17.8M | ||
| Q3 24 | $100.9M | $21.1M | ||
| Q2 24 | $121.2M | $16.4M | ||
| Q1 24 | $181.5M | $18.1M |
总债务BATRARSVR
| 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 | $579.9M | — |
股东权益BATRARSVR
| Q4 25 | $526.0M | $373.6M | ||
| Q3 25 | $560.3M | $370.9M | ||
| Q2 25 | $522.8M | $368.9M | ||
| Q1 25 | $486.1M | $364.9M | ||
| Q4 24 | $524.2M | $359.5M | ||
| Q3 24 | $530.4M | $357.9M | ||
| Q2 24 | $512.7M | $353.0M | ||
| Q1 24 | $479.2M | $353.0M |
总资产BATRARSVR
| Q4 25 | $1.6B | $941.9M | ||
| Q3 25 | $1.7B | $903.5M | ||
| Q2 25 | $1.7B | $857.0M | ||
| Q1 25 | $1.7B | $865.1M | ||
| Q4 24 | $1.5B | $832.4M | ||
| Q3 24 | $1.6B | $778.2M | ||
| Q2 24 | $1.6B | $768.2M | ||
| Q1 24 | $1.6B | $783.5M |
负债/权益比BATRARSVR
| 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 | 1.21× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $26.4M | $12.9M |
| 自由现金流经营现金流 - 资本支出 | — | $12.8M |
| 自由现金流率自由现金流/营收 | — | 28.1% |
| 资本支出强度资本支出/营收 | 0.0% | 0.3% |
| 现金转化率经营现金流/净利润 | — | 5.89× |
| 过去12个月自由现金流最近4个季度 | — | $50.1M |
8季度趋势，按日历期对齐
经营现金流BATRARSVR
| Q4 25 | $26.4M | $12.9M | ||
| Q3 25 | $-88.8M | $19.3M | ||
| Q2 25 | $-8.1M | $6.0M | ||
| Q1 25 | $95.8M | $12.2M | ||
| Q4 24 | $28.9M | $11.2M | ||
| Q3 24 | $-69.0M | $13.3M | ||
| Q2 24 | $-34.3M | $8.6M | ||
| Q1 24 | $91.1M | $13.8M |
自由现金流BATRARSVR
| Q4 25 | — | $12.8M | ||
| Q3 25 | — | $19.2M | ||
| Q2 25 | $-82.3M | $6.0M | ||
| Q1 25 | $76.3M | $12.2M | ||
| Q4 24 | $16.8M | $11.2M | ||
| Q3 24 | $-85.5M | $13.3M | ||
| Q2 24 | $-64.1M | $8.5M | ||
| Q1 24 | $63.4M | $13.8M |
自由现金流率BATRARSVR
| Q4 25 | — | 28.1% | ||
| Q3 25 | — | 42.2% | ||
| Q2 25 | -26.3% | 16.1% | ||
| Q1 25 | 161.5% | 29.3% | ||
| Q4 24 | 32.3% | 26.5% | ||
| Q3 24 | -29.4% | 32.7% | ||
| Q2 24 | -22.7% | 24.9% | ||
| Q1 24 | 171.0% | 35.2% |
资本支出强度BATRARSVR
| Q4 25 | 0.0% | 0.3% | ||
| Q3 25 | 0.0% | 0.3% | ||
| Q2 25 | 23.7% | 0.1% | ||
| Q1 25 | 41.3% | 0.1% | ||
| Q4 24 | 23.2% | 0.0% | ||
| Q3 24 | 5.7% | 0.1% | ||
| Q2 24 | 10.5% | 0.1% | ||
| Q1 24 | 74.5% | 0.0% |
现金转化率BATRARSVR
| Q4 25 | — | 5.89× | ||
| Q3 25 | -2.96× | 8.54× | ||
| Q2 25 | -0.28× | — | ||
| Q1 25 | — | 4.56× | ||
| Q4 24 | — | 2.14× | ||
| Q3 24 | -6.89× | 71.97× | ||
| Q2 24 | -1.18× | — | ||
| Q1 24 | — | 4.93× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
BATRA
| Baseball | $34.8M | 57% |
| Mixed Use Development Segment | $26.5M | 43% |
RSVR
| Other | $18.9M | 42% |
| Recorded Music Segment | $12.9M | 28% |
| Performance | $6.2M | 14% |
| Synchronization | $4.6M | 10% |
| Physical | $1.9M | 4% |
| Neighboring Rights | $1.1M | 3% |
