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Atlanta Braves Holdings vs Sphere Entertainment: BATRA and SPHR compared
Atlanta Braves Holdings is the larger company: $325M of revenue in its latest quarter (Q3 2026) against $274M for Sphere Entertainment (Q3 2026). Sphere Entertainment is growing faster (+4% against +4% a year earlier). Atlanta Braves Holdings is more profitable, with an operating margin of 2.7% against -87.7%.
Where the money goes: BATRA and SPHR
Atlanta Braves Holdings (BATRA) · Q3 2026
Atlanta Braves Holdings, Q3 2026: revenue $325M (+4% year over year), operating margin 2.7%, net earnings $9.8M, operating cash flow −$63.8M. The chart follows the revenue to costs, profit and cash.
Sphere Entertainment (SPHR) · Q3 2026
Sphere Entertainment, Q3 2026: revenue $274M (+4% year over year), operating margin -87.7%, net loss $176M, operating cash flow $56.9M. The chart follows the revenue to costs, profit and cash.
| Atlanta Braves Holdings (BATRA) | Sphere Entertainment (SPHR) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $325M | $274M |
| Revenue growth, Y/Y | +4% | +4% |
| Operating margin | 2.7% | -87.7% |
| Net earnings | $9.8M | −$176M |
| Net margin | 3.0% | -64.2% |
| Operating cash flow | −$63.8M | $56.9M |
| Free cash flow | — | $26.5M |
| Market value | — | $3.9B |
| Analysts’ mean target | — | $156.62 |
Where the revenue comes from
Atlanta Braves Holdings
- Baseball: $296M (91%)
- Mixed-Use Development: $29.1M (9%)
Sphere Entertainment
- Ticketing and venue license fee revenues: $137M (50%)
- Media networks revenues: $75.4M (27%)
- Food, beverage, and merchandise revenues: $31.0M (11%)
- Sponsorship, signage, Exosphere advertising, and suite license revenues: $22.9M (8%)
Questions
Which is bigger, Atlanta Braves Holdings or Sphere Entertainment?
Atlanta Braves Holdings is the larger company: $325M of revenue in its latest quarter (Q3 2026) against $274M for Sphere Entertainment (Q3 2026).
Is Atlanta Braves Holdings or Sphere Entertainment growing faster?
Sphere Entertainment is growing faster (+4% against +4% a year earlier).
Which is more profitable, Atlanta Braves Holdings or Sphere Entertainment?
Atlanta Braves Holdings is more profitable, with an operating margin of 2.7% against -87.7%.
More: Atlanta Braves Holdings earnings · how Atlanta Braves Holdings makes money · Sphere Entertainment earnings · how Sphere Entertainment makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 4, 2026; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.