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Sinclair Broadcast
(NASDAQ:SBGI)
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Rating:52Neutral
Price Target:
$14.00
▲(3.78% Upside)
Action:Reiterated
Date:08/06/26
Overall score is held back primarily by elevated leverage and historically volatile profitability despite recent stabilization in earnings and positive free cash flow. The earnings call was constructive with reaffirmed guidance, improving trends, and active deleveraging, while technicals remain soft with the stock below major moving averages. Valuation is a partial offset, supported by a reasonable P/E and a high dividend yield.
Positive Factors
Positive Free Cash Flow
Consistent positive operating cash flow and free cash flow provide durable internal funding to service debt, support modest capital spending and partner buy‑ins, and reduce reliance on external financing. That FCF, even after a decline, underpins multi‑quarter deleveraging and operational flexibility.
Negative Factors
Elevated Leverage
Very high absolute and relative leverage materially constrains strategic flexibility and increases sensitivity to interest rates and earnings variability. Even with sequential improvement, elevated net leverage raises refinancing, covenant and cash‑interest risk over the coming quarters and limits capacity for growth investments.
Read all positive and negative factors
Positive Factors
Negative Factors
Positive Free Cash Flow
Consistent positive operating cash flow and free cash flow provide durable internal funding to service debt, support modest capital spending and partner buy‑ins, and reduce reliance on external financing. That FCF, even after a decline, underpins multi‑quarter deleveraging and operational flexibility.
Read all positive factors
Sinclair Broadcast (SBGI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.07B
Dividend Yield6.74%
Average Volume (3M)446.33K
Price to Earnings (P/E)19.4
Beta (1Y)0.62
Revenue Growth-6.46%
EPS Growth-6.68%
CountryUS
Employees7,100
SectorCommunication Services
Sector Strength97
IndustryBroadcasting
Share Statistics
EPS (TTM)0.77
Shares Outstanding48,562,824
10 Day Avg. Volume498,790
30 Day Avg. Volume446,326
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$16.00Price Target Upside18.61% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)1.37
Revenue Forecast (FY)$3.51B
Sinclair Broadcast Business Overview & Revenue Model
Company Description
Sinclair, Inc. operates predominantly as a broadcast television firm. It connects with audiences across diverse platforms, providing engaging and pertinent programming spanning news, entertainment, and sports. Furthermore, the company offers an ef...
How the Company Makes Money
Sinclair primarily earns revenue through (1) advertising and (2) distribution fees tied to its owned-and-operated local TV stations, supplemented by content/network-related revenue and other station services. (1) Advertising: Sinclair sells commer...
Sinclair Broadcast Earnings Call Summary
Earnings Call Date:Aug 05, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 11, 2026
Earnings Call Sentiment Positive
The call conveyed a predominantly positive operational and financial tone: strong Q2 revenue and a 45% increase in adjusted EBITDA, meaningful political-ad strength with raised political and EBITDA guidance, strong live-sports audiences, and clear progress on deleveraging and liquidity. Offsetting items include a 3% decline in core advertising, a reset lower for core ad guidance (≈$40M midpoint reduction), a material decline in Tennis segment EBITDA, and an elevated but improving leverage profile. Overall, positives (robust political momentum, sizable EBITDA beat, improved guidance, and debt reduction) outweigh the headwinds tied to core ad softness and select segment investments.Positive Updates
Total Revenue Growth
Total company revenue of $840 million in Q2, up 7% year-over-year, driven primarily by political advertising and distribution growth.
Negative Updates
Core Advertising Weakness and Guidance Reset
Core advertising revenue declined 3% year-over-year in the quarter; full-year core advertising guidance was reset lower with total company core expected $1.22 billion–$1.28 billion and Local Media core $1.04 billion–$1.09 billion (midpoint reduction of ~$40 million).
Read all updates
Q2-2026 Updates
Positive
Negative
Total Revenue Growth
Total company revenue of $840 million in Q2, up 7% year-over-year, driven primarily by political advertising and distribution growth.
Read all positive updates
Company Guidance
Sinclair raised full‑year political advertising guidance to at least $375M (from $333M) and reset total‑company core advertising to $1.22–1.28B (Local Media core ad: $1.04–1.09B, ~ $40M midpoint reduction), while increasing adjusted EBITDA guidance to $730–760M (Local Media $710–740M), a roughly $25M midpoint raise; total‑company revenue guidance remains $3.40–3.54B (Local Media $3.00–3.12B) and distribution revenue remains $1.72–1.79B (Local Media $1.51–1.57B). Management kept capex at $75–80M, lowered net interest expense guidance to about $290–295M, and expects net cash taxes of ~ $50M. The revisions were driven by strong Q2 results (Q2 revenue $840M, +7% YoY; Q2 adjusted EBITDA $149M, +45%; Q2 political $59M, +9% YoY) and balance‑sheet progress (≈$320M of debt repaid in the quarter to total debt ≈$4.1B, STG net leverage 5.2x, cash $604M including $115M at STG and $489M at Ventures, Ventures distributions $19M, and total liquidity ≈$1.4B).Sinclair Broadcast Financial Statement Overview
Summary
Income Statement
52
Neutral
Balance Sheet
24
Negative
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.26B | 3.17B | 3.55B | 3.13B | 3.93B | 6.13B |
| Gross Profit | 1.38B | 1.15B | 1.83B | 1.47B | 1.85B | 1.69B |
| EBITDA | 727.00M | 565.00M | 949.00M | -61.00M | 944.00M | 714.00M |
| Net Income | 52.00M | -112.00M | 310.00M | -291.00M | 2.65B | -414.00M |
Balance Sheet | ||||||
| Total Assets | 5.48B | 5.95B | 5.88B | 6.08B | 6.70B | 12.54B |
| Cash, Cash Equivalents and Short-Term Investments | 604.00M | 866.00M | 697.00M | 662.00M | 884.00M | 816.00M |
| Total Debt | 4.19B | 4.52B | 4.28B | 4.35B | 4.44B | 12.58B |
| Total Liabilities | 5.18B | 5.58B | 5.37B | 5.86B | 6.02B | 14.25B |
| Stockholders Equity | 380.00M | 443.00M | 583.00M | 285.00M | 748.00M | -1.77B |
Cash Flow | ||||||
| Free Cash Flow | 95.00M | 115.00M | 14.00M | 143.00M | 694.00M | 247.00M |
| Operating Cash Flow | 171.00M | 189.00M | 98.00M | 235.00M | 799.00M | 327.00M |
| Investing Cash Flow | -64.00M | -120.00M | 77.00M | 52.00M | -381.00M | -246.00M |
| Financing Cash Flow | -119.00M | 100.00M | -140.00M | -509.00M | -353.00M | -524.00M |
Sinclair Broadcast Technical Analysis
Positive
13.49
Price Trends
14.06
Positive
14.24
Positive
14.48
Positive
Market Momentum
0.05
Negative
59.17
Neutral
35.83
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SBGI, the sentiment is Positive. The current price of 13.49 is below the 20-day moving average (MA) of 13.96, below the 50-day MA of 14.06, and below the 200-day MA of 14.48, indicating a bullish trend. The MACD of 0.05 indicates Negative momentum. The RSI at 59.17 is Neutral, neither overbought nor oversold. The STOCH value of 35.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
72 Outperform | $27.29B | 15.79 | 14.74% | 0.99% | 5.07% | -20.95% | |
71 Outperform | $184.50B | 21.99 | 7.87% | 1.58% | 5.31% | -23.96% | |
70 Outperform | $27.29B | 15.79 | 14.74% | 1.13% | 5.07% | -20.95% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
58 Neutral | $5.84B | 33.61 | 8.56% | 4.00% | 10.51% | -72.98% | |
54 Neutral | $70.27B | -22.04 | -9.22% | ― | -5.87% | -512.89% | |
52 Neutral | $1.07B | 19.38 | 12.71% | 7.41% | -6.46% | -6.68% |
* Communication Services Sector Average
SBGI
Sinclair Broadcast
14.84
1.75
13.40%
NXST
Nexstar Media Group
189.57
-9.33
-4.69%
DIS
Walt Disney
106.85
-8.04
-6.99%
FOXA
Fox
69.04
12.01
21.07%
FOX
Fox
61.41
9.21
17.64%
WBD
Warner Bros
27.99
16.17
136.80%
Sinclair Broadcast Corporate Events
Executive/Board ChangesShareholder Meetings
Sinclair Broadcast Shareholders Back Board, Auditor and Pay
Positive
Jun 5, 2026
At its annual meeting of stockholders held on June 4, 2026, Sinclair stockholders elected all nine nominated directors to the board, each to serve until the 2027 annual meeting or until a successor is chosen, underscoring continued support for the...
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.