Sinclair, Inc. SBGI
Sinclair, Inc. ("the Company" or "Sinclair"), a Maryland corporation formed in 2022, is the parent company of Sinclair Broadcast Group, LLC ("SBG"), a Maryland limited liability company, which formed from the conversion of Sinclair Broadcast Group, Inc. ("Old Sinclair"), a Maryland corporation founded in 1986, to a Maryland limited liability company in 2023. Refer to Company Reorganization in this Item 1. Sinclair is a diversified media company with national reach and a strong focus on providing high-quality content on our local television stations and digital platform. The content, distributed through our broadcast platform and third-party platforms, consists of programming provided by third-party networks and syndicators, local news, other original programming produced by us and our owned networks, and professional sports. Additionally, Sinclair owns digital media companies that are complementary to our extensive portfolio of television station related digital properties and has interests in, owns, manages, and/or operates technical and software services companies, research and development companies for the advancement of broadcast technology, and other media and non-media related businesses and assets, including real estate, venture capital, private equity, and direct investments.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | $3.17B | $3.55B | $3.13B | $3.93B | $6.13B | — |
| SG&A | $806.0M | $794.0M | $747.0M | $812.0M | $908.0M | — |
| Total operating expenses | $3.00B | $3.00B | $3.46B | -$52.0M | $6.04B | — |
| Operating income | $173.0M | $551.0M | -$331.0M | $3.98B | $95.0M | — |
| Interest expense | $395.0M | $304.0M | $305.0M | $296.0M | $618.0M | — |
| Pre-tax income | -$153.0M | $395.0M | -$637.0M | $3.61B | -$499.0M | — |
| Income tax | $54.0M | $76.0M | $358.0M | $913.0M | $173.0M | — |
| Net income | -$99.0M | $319.0M | -$279.0M | $2.70B | -$326.0M | — |
| EPS, basic | -1.61 | 4.72 | -4.46 | 37.54 | -5.51 | — |
| EPS, diluted | -1.61 | 4.69 | -4.46 | 37.54 | -5.51 | — |
| Shares, diluted (wtd. avg.) | 69.1M | 66.1M | 65.1M | 70.7M | 75.0M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $866.0M | $697.0M | $662.0M | $884.0M | $819.0M | $1.26B |
| Receivables | $687.0M | $637.0M | $616.0M | $612.0M | — | — |
| Total current assets | $1.70B | $1.49B | $1.48B | $1.68B | — | — |
| Goodwill | $2.08B | $2.08B | $2.08B | $2.09B | $2.09B | — |
| Other intangibles | $533.0M | $630.0M | $779.0M | $946.0M | — | — |
| Total assets | $5.95B | $5.88B | $6.08B | $6.70B | — | — |
| Accounts payable | $496.0M | $416.0M | $913.0M | $397.0M | — | — |
| Short-term debt | $22.0M | $35.0M | $34.0M | $35.0M | — | — |
| Total current liabilities | $703.0M | $605.0M | $1.10B | $608.0M | — | — |
| Long-term debt | $4.35B | $4.09B | $4.15B | — | — | — |
| Total liabilities | $5.58B | $5.37B | $5.86B | $5.83B | — | — |
| Retained earnings | -$171.0M | $10.0M | -$234.0M | $122.0M | — | — |
| Total equity | $443.0M | $583.0M | $221.0M | $681.0M | -$1.71B | -$1.19B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | $189.0M | $98.0M | $235.0M | $799.0M | $327.0M | — |
| Depreciation and amortisation | $249.0M | $250.0M | $271.0M | $321.0M | $591.0M | — |
| Stock-based compensation | $51.0M | $51.0M | $45.0M | $50.0M | $60.0M | — |
| Capital expenditure | $74.0M | $84.0M | $92.0M | $105.0M | $80.0M | — |
| Investing cash flow | -$120.0M | $77.0M | $52.0M | -$381.0M | -$246.0M | — |
| Financing cash flow | $100.0M | -$140.0M | -$509.0M | -$353.0M | -$524.0M | — |
| Dividends paid | $69.0M | $66.0M | $65.0M | $70.0M | $60.0M | — |
| Buybacks | $0 | $0 | $153.0M | $120.0M | $61.0M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001971213-26-000017.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | — | $6.13B | $3.93B | $3.13B | $3.55B | $3.17B |
| Gross profit | — | — | — | — | — | — |
| Net income | — | -$326.0M | $2.70B | -$279.0M | $319.0M | -$99.0M |
Recent filings and events
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Results announced Item 2.02
- Officer or director change Item 5.02
- Officer or director change Item 5.02
- Results announced Item 2.02
- Officer or director change Item 5.02
- Shareholder vote Item 5.07
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 4833
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|---|---|---|---|---|
| FOXA | Fox Corp | $28.24B | 17.3x | 5.1% |
| PSKY | Paramount Skydance Corp | $10.92B | — | — |
| NXST | NEXSTAR MEDIA GROUP, INC. | $5.16B | 55.8x | -8.5% |
| VSNT | Versant Media Group, Inc. | $4.42B | — | -5.3% |
| NMAX | Newsmax Inc. | $1.02B | — | 10.7% |
| EVC | ENTRAVISION COMMUNICATIONS CORP | $573.9M | — | 22.6% |
| GTN | GRAY MEDIA, INC | $448.8M | — | -15.1% |
| SSP | E.W. SCRIPPS Co | $198.9M | — | -14.3% |