Sinclair Broadcast (SBGI)
NASDAQ:SBGI
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Sinclair Broadcast
(NASDAQ:SBGI)
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Rating:58Neutral
Price Target:
$14.00
▲(2.26% Upside)
Action:ReiteratedDate:02/28/26
The score is held back primarily by weak and volatile financial performance combined with very high leverage. Offsetting factors include improving forward outlook and liquidity initiatives discussed on the earnings call, plus a constructive technical trend and a high dividend yield despite loss-making earnings.
Positive Factors
Liquidity & Refinancing
Comprehensive refinancing, an AR facility and sizable cash/liquidity materially reduce near-term refinancing risk. This durable improvement increases runway to execute deleveraging, absorb cyclical revenue gaps, and fund capex or acquisitions without immediate capital markets dependence.
Negative Factors
Very High Leverage
Extremely elevated leverage amplifies earnings volatility and constrains strategic flexibility. High debt servicing needs and limited equity buffer increase refinancing and execution risk, making sustained investment or M&A harder and leaving little cushion for cyclical downturns.
Read all positive and negative factors
Positive Factors
Negative Factors
Liquidity & Refinancing
Comprehensive refinancing, an AR facility and sizable cash/liquidity materially reduce near-term refinancing risk. This durable improvement increases runway to execute deleveraging, absorb cyclical revenue gaps, and fund capex or acquisitions without immediate capital markets dependence.
Read all positive factors
Sinclair Broadcast (SBGI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$980.46M
Dividend Yield6.52%
Average Volume (3M)530.18K
Price to Earnings (P/E)―
Beta (1Y)0.45
Revenue Growth-0.98%
EPS Growth82.16%
CountryUS
Employees7,200
SectorCommunication Services
Sector Strength97
IndustryEntertainment
Share Statistics
EPS (TTM)1.55
Shares Outstanding47,863,796
10 Day Avg. Volume373,625
30 Day Avg. Volume530,185
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 Cap4.70
Enterprise Value/Revenue1.45
Enterprise Value/Gross Profit3.24
Enterprise Value/Ebitda7.65
Forecast
1Y Price Target
$20.00Price Target Upside46.09% Upside
Rating ConsensusHold
Number of Analyst Covering3
EPS Forecast (FY)1.2
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:Feb 25, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 30, 2026
Earnings Call Sentiment Positive
The call presented a generally constructive operational and strategic picture: core advertising showed clear momentum (Q4 core +14% as-reported) and management delivered above‑guidance quarterly and full‑year results while taking concrete steps to improve the balance sheet (refinancing, AR facility, $866M cash, ~$1.5B liquidity). Ventures generated meaningful cash and the company provided a confident 2026 guide (revenue $3.4B–$3.54B; adj. EBITDA $700M–$740M). Key risks remain cyclical political revenue variability (large Q4 YoY declines), elevated leverage (total net leverage ~5.3x) and distribution/MVPD churn, though management intends to use 2026 political cash and continued cost discipline to drive deleveraging. On balance, the positives around core business recovery, liquidity and a clear deleveraging plan outweigh the near-term cyclical and leverage headwinds.Positive Updates
Full-Year 2025 Financial Outperformance
Total revenue of $3.2 billion and adjusted EBITDA of $483 million for 2025, both above the midpoint of guidance, demonstrating full-year outperformance and cash generation.
Negative Updates
Year-Over-Year Q4 Revenue and EBITDA Decline (Cyclical Political Impact)
Q4 2025 revenue declined to $836 million from $1.0 billion a year earlier (≈ -16.4%) and adjusted EBITDA fell to $168 million from $330 million (≈ -49.1%), primarily due to the absence of large political revenues ($203M in prior-year quarter vs $14M in Q4 2025).
Read all updates
Q4-2025 Updates
Positive
Negative
Full-Year 2025 Financial Outperformance
Total revenue of $3.2 billion and adjusted EBITDA of $483 million for 2025, both above the midpoint of guidance, demonstrating full-year outperformance and cash generation.
Read all positive updates
Company Guidance
Sinclair guided to 2026 full‑year results of total revenue $3.40–$3.54 billion, distribution revenue $1.72–$1.79 billion, core advertising $1.26–$1.30 billion and political advertising of at least $333 million, with adjusted EBITDA of $700–$740 million; capital expenditures are expected to be $75–$80 million, net interest expense $300–$310 million and net cash tax payments $34–$45 million. Management said the guide assumes stable core trends (sports‑heavy calendar), a typical political “crowd out” as political ramps, steady gross distribution revenue with subscriber churn moderating (and guidance reflecting only partner station acquisitions already closed), and realization of roughly $30 million of annualized JSA/LMA buy‑in synergies by the second half of 2026.Sinclair Broadcast Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
28
Negative
Cash Flow
41
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.17B | 3.55B | 3.13B | 3.93B | 6.13B |
| Gross Profit | 1.15B | 1.83B | 1.47B | 1.85B | 1.69B |
| EBITDA | 565.00M | 949.00M | -61.00M | 944.00M | 714.00M |
| Net Income | -112.00M | 310.00M | -291.00M | 2.65B | -414.00M |
Balance Sheet | |||||
| Total Assets | 5.95B | 5.88B | 6.08B | 6.70B | 12.54B |
| Cash, Cash Equivalents and Short-Term Investments | 866.00M | 697.00M | 662.00M | 884.00M | 816.00M |
| Total Debt | 4.52B | 4.28B | 4.35B | 4.44B | 12.58B |
| Total Liabilities | 5.58B | 5.37B | 5.86B | 6.02B | 14.25B |
| Stockholders Equity | 443.00M | 583.00M | 285.00M | 748.00M | -1.77B |
Cash Flow | |||||
| Free Cash Flow | 115.00M | 14.00M | 143.00M | 694.00M | 247.00M |
| Operating Cash Flow | 189.00M | 98.00M | 235.00M | 799.00M | 327.00M |
| Investing Cash Flow | -120.00M | 77.00M | 52.00M | -381.00M | -246.00M |
| Financing Cash Flow | 100.00M | -140.00M | -509.00M | -353.00M | -524.00M |
Sinclair Broadcast Technical Analysis
Neutral
13.69
Price Trends
14.07
Negative
14.63
Negative
14.11
Negative
Market Momentum
-0.27
Negative
50.38
Neutral
80.07
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SBGI, the sentiment is Neutral. The current price of 13.69 is above the 20-day moving average (MA) of 13.43, below the 50-day MA of 14.07, and below the 200-day MA of 14.11, indicating a neutral trend. The MACD of -0.27 indicates Negative momentum. The RSI at 50.38 is Neutral, neither overbought nor oversold. The STOCH value of 80.07 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 |
|---|---|---|---|---|---|---|---|
68 Neutral | $175.70B | 21.11 | 11.35% | 1.10% | 3.61% | 152.34% | |
68 Neutral | $24.33B | 34.54 | 16.22% | 0.75% | 14.91% | 9.30% | |
64 Neutral | $24.33B | 30.69 | 16.22% | 0.85% | 14.91% | 9.30% | |
62 Neutral | $68.32B | 98.11 | 2.05% | ― | -4.29% | ― | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
58 Neutral | $980.46M | -9.44 | -28.23% | 6.52% | -0.98% | 82.16% | |
54 Neutral | $5.57B | 56.54 | 4.92% | 3.66% | -1.42% | -8.99% |
* Communication Services Sector Average
SBGI
Sinclair Broadcast
13.82
1.49
12.12%
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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.