Latest Ratios: P/E Ratio -8.0x · EV/EBITDA 9.5x · ROE -25.3%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $899M | $1.1B | $1.1B | $849M | $1.1B | $2.0B | $2.5B | $3.1B | $2.7B | $3.8B | $3.1B |
| Enterprise Value | $4.6B | $4.7B | $4.7B | $4.5B | $4.7B | $13.7B | $14.1B | $14.5B | $5.5B | $7.2B | $7.1B |
| P/E Ratio → | -7.99 | — | 3.44 | — | 0.41 | — | — | 29.50 | 7.86 | 6.62 | 12.83 |
| P/S Ratio | 0.28 | 0.33 | 0.30 | 0.27 | 0.28 | 0.32 | 0.43 | 0.73 | 0.88 | 1.40 | 1.15 |
| P/B Ratio | 2.40 | 2.86 | 2.07 | 3.84 | 1.61 | — | — | 1.83 | 1.67 | 2.49 | 5.64 |
| P/FCF | 7.82 | 9.20 | 76.20 | 5.93 | 1.58 | 8.03 | 1.83 | 4.09 | 4.94 | 10.98 | 6.33 |
| P/OCF | 4.76 | 5.60 | 10.89 | 3.61 | 1.37 | 6.07 | 1.64 | 3.39 | 4.14 | 8.85 | 5.32 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.49 | 1.31 | 1.45 | 1.18 | 2.24 | 2.37 | 3.41 | 1.80 | 2.63 | 2.59 |
| EV / EBITDA | 9.54 | 9.88 | 5.81 | — | 1.08 | 18.02 | — | 15.44 | 5.30 | 6.36 | 7.00 |
| EV / EBIT | 29.56 | 19.46 | 6.65 | — | 7.47 | 298.86 | 9.62 | 32.88 | 9.16 | 9.82 | 12.15 |
| EV / FCF | — | 40.96 | 332.20 | 31.71 | 6.71 | 55.66 | 10.11 | 19.04 | 10.16 | 20.68 | 14.26 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 36.1% | 36.1% | 51.7% | 47.0% | 47.1% | 27.6% | 51.0% | 45.3% | 61.0% | 55.1% | 58.0% |
| Operating Margin | 4.9% | 4.9% | 15.5% | -10.6% | 101.3% | 1.5% | -46.6% | 11.1% | 21.6% | 27.0% | 22.0% |
| Net Profit Margin | -3.5% | -3.5% | 8.7% | -9.3% | 67.5% | -6.7% | -40.6% | 1.1% | 11.2% | 21.1% | 9.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -25.3% | -25.3% | 84.1% | -64.5% | 389.4% | — | -948.5% | 2.9% | 21.8% | 55.1% | 46.4% |
| ROA | -1.9% | -1.9% | 5.2% | -4.6% | 27.6% | -3.2% | -15.7% | 0.4% | 5.1% | 9.0% | 4.3% |
| ROIC | 2.8% | 2.8% | 10.3% | -6.1% | 41.8% | 0.7% | -17.8% | 4.0% | 10.6% | 11.8% | 10.4% |
| ROCE | 2.9% | 2.9% | 10.7% | -6.0% | 45.7% | 0.8% | -19.4% | 4.2% | 10.9% | 13.0% | 11.8% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 12.21 | 12.21 | 8.30 | 19.67 | 6.52 | — | — | 7.49 | 2.43 | 2.64 | 7.53 |
| Debt / EBITDA | 9.47 | 9.47 | 5.34 | — | 1.03 | 16.49 | — | 13.55 | 3.74 | 3.59 | 4.15 |
| Net Debt / Equity | — | 9.87 | 6.95 | 16.68 | 5.22 | — | — | 6.71 | 1.77 | 2.19 | 7.07 |
| Net Debt / EBITDA | 7.66 | 7.66 | 4.47 | — | 0.83 | 15.42 | — | 12.12 | 2.72 | 2.98 | 3.89 |
| Debt / FCF | — | 31.77 | 256.00 | 25.78 | 5.13 | 47.63 | 8.28 | 14.95 | 5.22 | 9.70 | 7.93 |
| Interest Coverage | 0.61 | 0.61 | 2.30 | -1.09 | 2.10 | 0.07 | 2.23 | 1.04 | 2.06 | 3.44 | 2.77 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.42 | 2.42 | 2.45 | 1.34 | 2.77 | 2.06 | 3.11 | 2.57 | 3.12 | 2.36 | 1.42 |
| Quick Ratio | 2.42 | 2.42 | 2.45 | 1.34 | 2.77 | 2.06 | 3.11 | 2.57 | 3.12 | 1.93 | 1.41 |
| Cash Ratio | 1.23 | 1.23 | 1.15 | 0.60 | 1.45 | 0.68 | 1.22 | 1.18 | 1.85 | 0.94 | 0.41 |
| Asset Turnover | — | 0.53 | 0.60 | 0.52 | 0.59 | 0.49 | 0.44 | 0.24 | 0.46 | 0.40 | 0.46 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | 3.92 | 199.01 |
| Days Sales Outstanding | — | 79.13 | 66.05 | 72.67 | 57.33 | 83.13 | 79.23 | 106.31 | 71.56 | 88.91 | 80.42 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 7.8% | 6.5% | 6.2% | 7.7% | 6.4% | 3.0% | 2.5% | 2.3% | 2.8% | 1.9% | 2.1% |
| Payout Ratio | — | — | 21.3% | — | 2.6% | — | — | 155.3% | 21.9% | 12.4% | 26.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 29.1% | — | 242.0% | — | — | 3.4% | 12.7% | 15.1% | 7.8% |
| FCF Yield | 12.8% | 10.9% | 1.3% | 16.9% | 63.3% | 12.5% | 54.6% | 24.5% | 20.2% | 9.1% | 15.8% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 18.0% | 11.0% | 3.1% | 13.5% | 4.7% | 8.2% | 0.8% | 4.3% |
| Total Shareholder Yield | 7.8% | 6.5% | 6.2% | 25.7% | 17.3% | 6.1% | 15.9% | 7.0% | 11.0% | 2.7% | 6.4% |
| Shares Outstanding | — | $69M | $66M | $65M | $71M | $75M | $80M | $93M | $102M | $101M | $94M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying SBGI stock.
Sinclair, Inc.'s current P/E ratio is -8.0x. The historical average is 20.5x.
Sinclair, Inc.'s current EV/EBITDA is 9.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.2x.
Sinclair, Inc.'s return on equity (ROE) is -25.3%. The historical average is 30.2%.
Based on historical data, Sinclair, Inc. is trading at a P/E of -8.0x. Compare with industry peers and growth rates for a complete picture.
Sinclair, Inc.'s current dividend yield is 7.76%.
Sinclair, Inc. has 36.1% gross margin and 4.9% operating margin.
Sinclair, Inc.'s Debt/EBITDA ratio is 9.5x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Extreme leverage amid volatile earnings
Metrics are mathematically derived from official filings.
Deep Discount Reflects Earnings Uncertainty
Sinclair trades at a significant discount with a forward EV/EBITDA of 5.31x, well below the peer median of approximately 9.4x, according to current market data. This valuation appears to discount severe operational volatility and the risk associated with its extreme leverage.
The forward EV/EBITDA multiple is less than half the current trailing multiple of 9.76x, suggesting the market expects a significant earnings rebound or is pricing in structural decay. The P/S ratio of 0.32 is among the lowest in the peer group, indicating the market assigns minimal value to Sinclair's revenue base given its profitability challenges and capital structure.
Margin Volatility Undermines Earning Power
Sinclair's operating margin has been wildly erratic, ranging from 2.7% in Q2 2025 to 26.5% in Q4 2024 based on SEC filings, with the most recent quarter at a modest 6.0%. This extreme volatility makes it difficult to assess the company's sustainable earning power.
Gross margin compression from a peak of 54.9% to 45.8% indicates pricing pressure or a shift in revenue mix, but this is overshadowed by the massive swings in operating income driven by erratic SG&A. The net margin's pattern of deep losses interspersed with strong profits suggests non-operating items or tax adjustments are dominating the bottom line, severely obscuring core operational performance.
Low Returns Suggest Value Destruction
Sinclair's return on invested capital has been anemic, recently measuring just 0.9% in Q2 2026, a dramatic collapse from 4.9% in Q4 2024 as reported in financial statements. This trend indicates the company is generating minimal returns relative to its capital base.
The ROIC remains far below any reasonable cost of capital estimate, implying value destruction. The recent decline in ROE to -21.8% is driven by both negative net income and a shrinking equity base from retained losses. This low-return profile is inconsistent with the company's extreme leverage, which amplifies both returns and risks.
Extreme Leverage Amplifies All Risks
With a debt-to-equity ratio of 13.79 and a D/EBITDA of 30.82 as of Q2 2026, Sinclair's balance sheet is among the most leveraged in the broadcasting sector, per recent filings. This extreme leverage magnifies the impact of operational volatility on equity value.
The D/EBITDA multiple has ballooned due to depressed EBITDA in recent quarters, making debt service potentially uncomfortable as evidenced by interest coverage dipping to -0.61 in Q1 2025. While the current ratio of 1.94 suggests short-term liquidity is adequate, the capital structure provides almost no cushion against sustained operational underperformance or a downturn in advertising markets.
Adequate Short-Term Buffer Masks Volatility
Sinclair's current ratio of 1.94 in Q2 2026, based on reported figures, indicates adequate short-term liquidity, but the cash balance itself has been highly volatile, swinging from $378 million to $866 million over the past year. This volatility complicates assessments of long-term financial resilience.
The quick ratio equals the current ratio, suggesting minimal inventory dependence, which is typical for a broadcasting company. However, the reliance on a volatile cash position to cover current liabilities, combined with erratic free cash flow generation, means this liquidity buffer could erode quickly during a period of operational stress or restricted access to capital markets.
The Debt-to-Equity Trap
The most commonly misapplied ratio for Sinclair is the debt-to-equity ratio, currently at an extreme 13.79. This metric is heavily distorted by the company's very thin and volatile equity base, which has eroded from cumulative losses.
Using D/E alone paints a picture of imminent insolvency, but this is misleading because the company maintains a functional current ratio and generates positive cash flow in some quarters. A more appropriate metric is Debt-to-EBITDA, which better reflects the cash-flow-based ability to service debt, though this ratio is also elevated at 30.82x. Analysts should focus on interest coverage trends and free cash flow after mandatory spending to assess true refinancing risk, as the equity book value is not a reliable indicator of financial capacity in this context.