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SBGI · NASDAQ · Broadcasting

Sinclair (SBGI)

Local television operator covering roughly 80 US markets and close to four in ten TV households.

$13.12
vs last close−0.09 (−0.65%)
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Sinclair, Inc.SBGI
Communication Services

Operator of US local television stations — reaching close to four in ten TV households — with revenue driven by retransmission fees paid by cable and satellite distributors and by advertising concentrated in election cycles. A Ventures sleeve includes the Tennis Channel and ATSC 3.0 technology assets.

Operates roughly 180 local television stations across more than 80 US markets, reaching close to four in ten American TV households through affiliates of ABC, NBC, CBS, FOX, CW, and MyNetworkTV.

Revenue flows from two structural sources: retransmission consent fees that MVPDs pay to carry broadcast signals, and political advertising concentrated in election cycles across battleground states. Both depend on the continued health of the cable bundle.

A Ventures sleeve holds the Tennis Channel, ATSC 3.0 datacasting infrastructure, an ad-tech platform, and interests in broadcasting-technology joint ventures.

Control rests with the Smith family through a dual-class structure holding more than four-fifths of total voting power. A Board-authorized strategic review, announced in 2025, is evaluating broadcast-business alternatives and a possible Ventures separation.

Company facts

CEOChristopher S. Ripley
ListedJun 6, 1995
ExchangeNASDAQ
HeadquartersHunt Valley, MD
CountryUnited States
Employees7,100
CIK0001971213
ISINUS8292421067

Market cap$923.2M
EPS (ttm)$0.7556
P/E (ttm)17.48
ROE12.7%
P/B2.43
P/S0.2835
Dividend yieldDiv yield7.57%
Beta0.29vs XLC 1.20

Price target$18.00+36.3%Average of 20 analysts
ConsensusBuy14 of 20 analysts
Ratings

Target rangeAs of Sep 21, 2026

Latest analyst notes

DateFirmActionPriorCurrent
May 5, 2026GuggenheimReiterate
Rating: —Target: —
Rating: BuyTarget: $19
Apr 15, 2026Deutsche BankTarget
Target: $28
Target: $17
Nov 7, 2024Wells FargoUpgrade
Rating: UnderweightTarget: —
Rating: Equal WeightTarget: $19

Next report
Nov 4, 26
in 43 days
EPS estimate
$0.23
Revenue estimate
$872.9M
Fiscal quarter
Q3 FY26

EPSReportedEstimate

Feb '25May '25Aug '25Nov '25Feb '26Apr '26Aug '26Nov '26
Reported$2.61−$2.30−$0.91−$0.02$1.55$0.28−$1.06Pending
Estimate$1.99−$1.78−$0.75−$0.65−$0.03−$0.68−$0.24$0.23
Surprise+31.2%−29.2%−21.3%+96.9%+5,266.7%+141.2%−341.7%—

RevenueReportedEstimate

Feb '25May '25Aug '25Nov '25Feb '26Apr '26Aug '26Nov '26
Reported$1.00B$776.0M$784.0M$773.0M$836.0M$807.0M$840.0MPending
Estimate$1.01B$773.3M$795.6M$766.9M$838.6M$792.6M$839.0M$872.9M
Surprise−0.2%+0.4%−1.5%+0.8%−0.3%+1.8%+0.1%—
Estimate$0.23
ReportedDue Nov 4, 2026
Estimate$872.9M
ReportedDue Nov 4, 2026
View details

Debt to equity1,103.20%
Current ratio194.40%

ProfitabilityRevenueNet incomeNet margin

Q3 FY24Q4 FY24Q1 FY25Q2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26
Revenue$917.0M$1.00B$776.0M$784.0M$773.0M$836.0M$807.0M$840.0M
Net income$94.0M$176.0M−$156.0M−$64.0M−$1.0M$109.0M$20.0M−$76.0M
Net margin10.3%17.5%0.0%0.0%0.0%13.0%2.5%0.0%

GrowthOperating income

Q3 FY24Q4 FY24Q1 FY25Q2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26
Operating income$179.0M$266.0M$14.0M$21.0M$58.0M$80.0M$34.0M$50.0M
YoY growth+383.8%Turned profit−66.7%−67.2%−67.6%−69.9%+142.9%+138.1%

Balance sheet, Jun 30, 2026Cash & short-term investments $604.0M · Total debt $4.19B · Total assets $5.48B · Shareholders' equity $380.0M

Revenue
$840.0M
Operating income
$50.0M
Net income
−$76.0M
View details

Dividend yield
7.57%
Next ex-date
Nov 30, 26
estimated · in 69 days
Annual dividend
$1.00
per share
Schedule
Quarterly
4 payments a year

HistoryDividendAnnual yield

Dec '24Mar '25May '25Aug '25Dec '25Mar '26May '26Aug '26
Dividend$0.25$0.25$0.25$0.25$0.25$0.25$0.25$0.25
Annual yield5.60%7.25%7.13%6.91%6.54%6.99%7.29%7.09%
Ex-dateDec 2Mar 10May 30Aug 29Dec 1Mar 10May 26Aug 31
Payment dateDec 16Mar 24Jun 13Sep 15Dec 15Mar 24Jun 9Sep 15
View details

Institutions≈ 45.88%33.18M shares
187 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail
Other≈ 54.12%39.14M shares
remainder

72.32M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing

This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.

This company has 2 share classes; every stake here is a share of the whole company.

Top shareholders13F · 13D/G · Form 4

HolderStakeSharesDate
Gamco Investors, Inc. et alInstitution
5.44%3.94Mas of Jun 30, 2026
BlackRock, Inc.Institution
4.81%3.48Mas of Jun 30, 2026
Vanguard Portfolio Management LLCInstitution
2.65%1.92Mas of Jun 30, 2026
Dimensional Fund Advisors LPInstitution
2.47%1.78Mas of Jun 30, 2026
Vanguard Capital Management LLCInstitution
2.44%1.77Mas of Jun 30, 2026

Insider tradesForm 4

DateInsiderRoleSharesAvg price
Aug 10, 2026David B. Gibberofficer: EVP & Chief Legal Officer−29,246$13.74
Jul 2, 2026Daniel C. Keithdirector−17,000$15.02
May 4, 2026Benson E. Leggdirector−31,500$14.60
Apr 2, 2026Daniel C. Keithdirector−22,613$13.10
Apr 1, 2026Daniel C. Keithdirector−1,398$13.10
View details

  • Nexstar Media Group

    Largest US local TV broadcaster at ~2.5x scale across stations and revenue.

  • Gray Media

    Mid-market broadcaster and EdgeBeam co-venturer with deep retrans overlap.

  • E.W. Scripps

    Direct station rival with national FAST networks; live SBGI takeover target.

  • Fox Class A

    FOX network principal whose 29 O&O stations rival in major-market local ads.

Compare

CompanyPriceChange
Sinclair$13.12−0.65%$923.2M17.525.40.3+7.1%
Nexstar Media Group$165.44−0.42%$5.07B31.65.60.7+62.3%
Gray Media$4.64+0.32%$451.2M—2.60.1+8.7%
E.W. Scripps$3.15+1.78%$246.0M——0.1−9.2%
Fox Class A$64.51−0.42%$28.41B16.910.81.7+28.1%
Median24.35.60.4+18.4%