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Atlanta Braves Holdings, Inc.（BATRA）与Sphere Entertainment Co.（SPHR）财务数据对比。点击上方公司名可切换其他公司
Sphere Entertainment Co.的季度营收约是Atlanta Braves Holdings, Inc.的6.4倍（$393.8M vs $61.3M）。Sphere Entertainment Co.净利率更高（16.4% vs -67.6%，领先84.1%）。过去两年Atlanta Braves Holdings, Inc.的营收复合增速更高（28.6% vs 12.1%）
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。
Sphere Entertainment Co.是总部位于纽约的美国娱乐控股企业，由查尔斯·多兰家族掌控，旗下拥有位于内华达州拉斯维加斯谷帕拉代斯的Sphere演艺场馆，以及总部位于纽约的区域体育网络连锁品牌MSG Networks。
BATRA vs SPHR — 直观对比
营收规模更大
SPHR
是对方的6.4倍
$61.3M
净利率更高
SPHR
高出84.1%
-67.6%
两年增速更快
BATRA
近两年复合增速
12.1%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $61.3M | $393.8M |
| 净利润 | $-41.4M | $64.7M |
| 毛利率 | — | — |
| 营业利润率 | -81.2% | 7.3% |
| 净利率 | -67.6% | 16.4% |
| 营收同比 | 17.6% | — |
| 净利润同比 | -116.7% | — |
| 每股收益（稀释后） | $-0.64 | $2.42 |
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BATRASPHR
| Q4 25 | $61.3M | $393.8M | ||
| Q3 25 | $311.5M | $262.1M | ||
| Q2 25 | $312.4M | $282.2M | ||
| Q1 25 | $47.2M | $280.1M | ||
| Q4 24 | $52.1M | — | ||
| Q3 24 | $290.7M | $227.1M | ||
| Q2 24 | $282.9M | $272.6M | ||
| Q1 24 | $37.1M | $320.6M |
净利润BATRASPHR
| Q4 25 | $-41.4M | $64.7M | ||
| Q3 25 | $30.0M | $-101.2M | ||
| Q2 25 | $29.5M | $151.8M | ||
| Q1 25 | $-41.4M | $-82.0M | ||
| Q4 24 | $-19.1M | — | ||
| Q3 24 | $10.0M | $-105.3M | ||
| Q2 24 | $29.1M | $-46.6M | ||
| Q1 24 | $-51.3M | $-47.2M |
营业利润率BATRASPHR
| Q4 25 | -81.2% | 7.3% | ||
| Q3 25 | 12.5% | -49.5% | ||
| Q2 25 | 13.4% | -17.8% | ||
| Q1 25 | -94.2% | -28.1% | ||
| Q4 24 | -35.8% | — | ||
| Q3 24 | 2.2% | -51.8% | ||
| Q2 24 | 8.8% | -66.3% | ||
| Q1 24 | -141.2% | -12.6% |
净利率BATRASPHR
| Q4 25 | -67.6% | 16.4% | ||
| Q3 25 | 9.6% | -38.6% | ||
| Q2 25 | 9.4% | 53.8% | ||
| Q1 25 | -87.7% | -29.3% | ||
| Q4 24 | -36.7% | — | ||
| Q3 24 | 3.4% | -46.4% | ||
| Q2 24 | 10.3% | -17.1% | ||
| Q1 24 | -138.3% | -14.7% |
每股收益（稀释后）BATRASPHR
| Q4 25 | $-0.64 | $2.42 | ||
| Q3 25 | $0.47 | $-2.80 | ||
| Q2 25 | $0.46 | $3.39 | ||
| Q1 25 | $-0.66 | $-2.27 | ||
| Q4 24 | $-0.29 | — | ||
| Q3 24 | $0.16 | $-2.95 | ||
| Q2 24 | $0.46 | $-1.33 | ||
| Q1 24 | $-0.83 | $-1.33 |
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 | — |
| 总债务越低越好 | $738.6M | $692.7M |
| 股东权益账面价值 | $526.0M | $2.2B |
| 总资产 | $1.6B | $4.2B |
| 负债/权益比越低杠杆越低 | 1.40× | 0.31× |
8季度趋势，按日历期对齐
现金及短期投资BATRASPHR
| Q4 25 | $99.9M | — | ||
| Q3 25 | $82.2M | $384.8M | ||
| Q2 25 | $96.2M | $355.7M | ||
| Q1 25 | $244.7M | $465.0M | ||
| Q4 24 | $110.1M | — | ||
| Q3 24 | $100.9M | — | ||
| Q2 24 | $121.2M | $559.8M | ||
| Q1 24 | $181.5M | — |
总债务BATRASPHR
| Q4 25 | $738.6M | $692.7M | ||
| Q3 25 | $759.9M | $733.8M | ||
| Q2 25 | $703.1M | $743.8M | ||
| Q1 25 | $699.5M | $1.3B | ||
| Q4 24 | $617.1M | — | ||
| Q3 24 | $640.1M | $1.4B | ||
| Q2 24 | $600.0M | $1.4B | ||
| Q1 24 | $579.9M | $1.4B |
股东权益BATRASPHR
| Q4 25 | $526.0M | $2.2B | ||
| Q3 25 | $560.3M | $2.2B | ||
| Q2 25 | $522.8M | $2.3B | ||
| Q1 25 | $486.1M | $2.1B | ||
| Q4 24 | $524.2M | — | ||
| Q3 24 | $530.4M | $2.3B | ||
| Q2 24 | $512.7M | $2.4B | ||
| Q1 24 | $479.2M | $2.4B |
总资产BATRASPHR
| Q4 25 | $1.6B | $4.2B | ||
| Q3 25 | $1.7B | $4.1B | ||
| Q2 25 | $1.7B | $4.2B | ||
| Q1 25 | $1.7B | $4.4B | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.6B | $4.6B | ||
| Q2 24 | $1.6B | — | ||
| Q1 24 | $1.6B | $4.9B |
负债/权益比BATRASPHR
| Q4 25 | 1.40× | 0.31× | ||
| Q3 25 | 1.36× | 0.34× | ||
| Q2 25 | 1.34× | 0.32× | ||
| Q1 25 | 1.44× | 0.62× | ||
| Q4 24 | 1.18× | — | ||
| Q3 24 | 1.21× | 0.59× | ||
| Q2 24 | 1.17× | 0.57× | ||
| Q1 24 | 1.21× | 0.57× |
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 | $180.2M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | 0.0% | — |
| 现金转化率经营现金流/净利润 | — | 2.78× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流BATRASPHR
| Q4 25 | $26.4M | $180.2M | ||
| Q3 25 | $-88.8M | $115.8M | ||
| Q2 25 | $-8.1M | $-59.1M | ||
| Q1 25 | $95.8M | $6.3M | ||
| Q4 24 | $28.9M | — | ||
| Q3 24 | $-69.0M | $34.1M | ||
| Q2 24 | $-34.3M | $-72.4M | ||
| Q1 24 | $91.1M | $101.0M |
自由现金流BATRASPHR
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $-82.3M | — | ||
| Q1 25 | $76.3M | — | ||
| Q4 24 | $16.8M | — | ||
| Q3 24 | $-85.5M | — | ||
| Q2 24 | $-64.1M | — | ||
| Q1 24 | $63.4M | — |
自由现金流率BATRASPHR
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -26.3% | — | ||
| Q1 25 | 161.5% | — | ||
| Q4 24 | 32.3% | — | ||
| Q3 24 | -29.4% | — | ||
| Q2 24 | -22.7% | — | ||
| Q1 24 | 171.0% | — |
资本支出强度BATRASPHR
| Q4 25 | 0.0% | — | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | 23.7% | — | ||
| Q1 25 | 41.3% | — | ||
| Q4 24 | 23.2% | — | ||
| Q3 24 | 5.7% | — | ||
| Q2 24 | 10.5% | — | ||
| Q1 24 | 74.5% | — |
现金转化率BATRASPHR
| Q4 25 | — | 2.78× | ||
| Q3 25 | -2.96× | — | ||
| Q2 25 | -0.28× | -0.39× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -6.89× | — | ||
| Q2 24 | -1.18× | — | ||
| Q1 24 | — | — |
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% |
SPHR
| Ticketing And Venue License Fee Revenues | $198.5M | 50% |
| Media Networks Revenue | $120.1M | 30% |
| Sponsorship Signage Exosphere Advertising And Suite Licenses | $32.2M | 8% |
| Food Beverage And Merchandise Revenues | $27.6M | 7% |
| Other | $13.2M | 3% |
| Related Party | $2.3M | 1% |
