Sinclair Broadcast Group (SBGI)
NASDAQ:SBGI
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Sinclair Broadcast
(NASDAQ:SBGI)
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Rating:57Neutral
Price Target:
$15.00
▼(-10.66% Downside)
Action:Reiterated
Date:05/09/26
The score is driven primarily by improved profitability and solid free cash flow, but constrained by high leverage and uneven revenue trends. Valuation is a relative positive (moderate P/E and high yield), while technical indicators remain weak, and the earnings call was net-positive but still flagged leverage and macro/advertising uncertainty.
Positive Factors
Improved profitability and cash generation
Sinclair’s trailing‑twelve‑month return to modest net profit and materially positive free cash flow provide durable internal funding for operations, capex and deleveraging. Reliable FCF supports liquidity and strategic flexibility even if revenue lags, aiding long‑term stability.
Negative Factors
Very high leverage and weak capital structure
Sinclair’s elevated absolute debt load and high leverage materially limit financial flexibility, increasing exposure to interest‑rate moves, refinancing risk and earnings volatility. This structural balance‑sheet constraint constrains capital allocation and heightens downside risk over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved profitability and cash generation
Sinclair’s trailing‑twelve‑month return to modest net profit and materially positive free cash flow provide durable internal funding for operations, capex and deleveraging. Reliable FCF supports liquidity and strategic flexibility even if revenue lags, aiding long‑term stability.
Read all positive factors
Sinclair Broadcast (SBGI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.03B
Dividend Yield6.52%
Average Volume (3M)452.27K
Price to Earnings (P/E)11.4
Beta (1Y)0.59
Revenue Growth-9.25%
EPS Growth-54.61%
CountryUS
Employees7,200
SectorCommunication Services
Sector Strength97
IndustryEntertainment
Share Statistics
EPS (TTM)0.91
Shares Outstanding48,410,343
10 Day Avg. Volume441,351
30 Day Avg. Volume452,275
Financial Highlights & Ratios
PEG Ratio0.07
Price to Book (P/B)2.39
Price to Sales (P/S)0.33
P/FCF Ratio9.20
Enterprise Value/Market Cap4.48
Enterprise Value/Revenue1.44
Enterprise Value/Gross Profit3.39
Enterprise Value/Ebitda6.65
Forecast
1Y Price Target
$19.20Price Target Upside14.35% Upside
Rating ConsensusHold
Number of Analyst Covering5
EPS Forecast (FY)1.15
Revenue Forecast (FY)$3.50B
Sinclair Broadcast Business Overview & Revenue Model
Company Description
Sinclair, Inc. owns and operates as a broadcast television company. The Company engages consumers on multiple platforms with relevant and compelling news, entertainment, and sports content, as well as provides advertisers and businesses efficient ...
How the Company Makes Money
Sinclair primarily generates revenue from its local television station operations and related media activities. A major portion of revenue comes from advertising sales (selling commercial time across its local stations and associated digital prope...
Sinclair Broadcast Earnings Call Summary
Earnings Call Date:Apr 30, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 12, 2026
Earnings Call Sentiment Positive
The call presented a constructive operational and financial picture: revenue and Adjusted EBITDA grew, core advertising and distribution trends improved, Tennis Channel showed strong audience and DTC momentum, and the company took concrete deleveraging actions while preserving $1.5 billion of liquidity. At the same time, management emphasized several risks: Tennis Channel profitability is being invested against, macro and geopolitical uncertainty has moderated advertiser visibility, regulatory and M&A timing risks from recent litigation exist, and absolute leverage remains elevated despite incremental improvement. On balance, the positives around execution, growth, and active balance-sheet management outweighed the noted risks.Positive Updates
Revenue and EBITDA Growth
Total revenue of $877 million, up 4% year over year; Adjusted EBITDA of $126 million, up 13% year over year, reflecting revenue strength and operating leverage.
Negative Updates
Tennis Channel Profitability Pressure
Tennis Channel Adjusted EBITDA was $20 million and was below prior-year first quarter due to increased sales and programming expenses as management invests behind growth, putting near-term margin pressure on the segment despite revenue growth (~$70 million total revenue for the segment).
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue and EBITDA Growth
Total revenue of $877 million, up 4% year over year; Adjusted EBITDA of $126 million, up 13% year over year, reflecting revenue strength and operating leverage.
Read all positive updates
Company Guidance
Sinclair reaffirmed its full‑year 2026 guidance after a strong Q1: total revenue of $877M (up 4% YoY) and Adjusted EBITDA of $126M (up 13%), with distribution revenue $458M (+2%), core advertising $305M (+4%), Local Media revenue $701M (distribution $402M, core ad $261M, segment Adj. EBITDA $117M), Tennis revenue $70M (Adj. EBITDA $20M), consolidated CapEx $15M, and Ventures generating $12M of cash distributions while ending the quarter with $451M of cash; the company expects the full $30M of annualized partner‑station buy‑in synergies in 2026, has total debt of $4.4B and total liquidity of ~ $1.5B (cash $844M — $392M at STG, $451M at Ventures), completed a $165M term‑loan retirement that will save ~ $12M in annual interest, and reports STG net first‑lien leverage of 1.5x, net first‑lien leverage of 3.8x and net leverage of 5.1x (improved 0.2x sequentially), with the outlook supported by a sports‑heavy calendar, strong midterm political expectations, moderating subscriber churn and continued cost discipline.Sinclair Broadcast Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
28
Negative
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.20B | 3.17B | 3.55B | 3.13B | 3.93B | 6.13B |
| Gross Profit | 1.36B | 1.15B | 1.83B | 1.47B | 1.85B | 1.69B |
| EBITDA | 694.00M | 565.00M | 949.00M | -61.00M | 944.00M | 714.00M |
| Net Income | 64.00M | -112.00M | 310.00M | -291.00M | 2.65B | -414.00M |
Balance Sheet | ||||||
| Total Assets | 5.78B | 5.95B | 5.88B | 6.08B | 6.70B | 12.54B |
| Cash, Cash Equivalents and Short-Term Investments | 844.00M | 866.00M | 697.00M | 662.00M | 884.00M | 816.00M |
| Total Debt | 4.51B | 4.52B | 4.28B | 4.35B | 4.44B | 12.58B |
| Total Liabilities | 5.38B | 5.58B | 5.37B | 5.86B | 6.02B | 14.25B |
| Stockholders Equity | 467.00M | 443.00M | 583.00M | 285.00M | 748.00M | -1.77B |
Cash Flow | ||||||
| Free Cash Flow | 154.00M | 115.00M | 14.00M | 143.00M | 694.00M | 247.00M |
| Operating Cash Flow | 227.00M | 189.00M | 98.00M | 235.00M | 799.00M | 327.00M |
| Investing Cash Flow | -102.00M | -120.00M | 77.00M | 52.00M | -381.00M | -246.00M |
| Financing Cash Flow | 88.00M | 100.00M | -140.00M | -509.00M | -353.00M | -524.00M |
Sinclair Broadcast Technical Analysis
Negative
16.79
Price Trends
14.41
Negative
14.54
Negative
14.29
Negative
Market Momentum
-0.28
Positive
35.24
Neutral
18.16
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SBGI, the sentiment is Negative. The current price of 16.79 is above the 20-day moving average (MA) of 14.83, above the 50-day MA of 14.41, and above the 200-day MA of 14.29, indicating a bearish trend. The MACD of -0.28 indicates Positive momentum. The RSI at 35.24 is Neutral, neither overbought nor oversold. The STOCH value of 18.16 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SBGI.
Sinclair Broadcast Risk Analysis
Sinclair Broadcast disclosed 36 risk factors in its most recent earnings report. Sinclair Broadcast reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Sinclair Broadcast Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $180.44B | 18.16 | 10.29% | 1.10% | 4.02% | 27.66% | |
74 Outperform | $26.47B | 33.91 | 14.86% | 0.85% | 0.60% | -5.58% | |
73 Outperform | $26.47B | 37.29 | 14.86% | 0.75% | 0.60% | -5.58% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
57 Neutral | $1.03B | 11.41 | 15.82% | 6.52% | -9.25% | -54.61% | |
57 Neutral | $6.00B | 8.37 | 7.52% | 3.66% | -4.57% | -76.64% | |
55 Neutral | $67.94B | -5.13 | -6.13% | ― | -2.78% | 84.26% |
* Communication Services Sector Average
SBGI
Sinclair Broadcast
13.55
-0.20
-1.43%
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58.09
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193.50%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.