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SBGI

Sinclair Broadcast GroupNasdaqGS:SBGI Stock Report

Last Price

US$29.30

Market Cap

US$2.2b

7D

0.3%

1Y

-7.1%

Updated

19 Jan, 2022

Data

Company Financials +
SBGI fundamental analysis
Snowflake Score
Valuation4/6
Future Growth3/6
Past Performance2/6
Financial Health0/6
Dividends5/6

SBGI Stock Overview

Sinclair Broadcast Group, Inc. operates as a diversified television media company in the United States.

Sinclair Broadcast Group Competitors

ViacomCBS

NasdaqGS:VIAC

US$22.9b

Nexstar Media Group

NasdaqGS:NXST

US$6.7b

TEGNA

NYSE:TGNA

US$4.5b

Gray Television

NYSE:GTN

US$2.1b

Price History & Performance

Summary of all time highs, changes and price drops for Sinclair Broadcast Group
Historical stock prices
Current Share PriceUS$29.30
52 Week HighUS$39.60
52 Week LowUS$22.44
Beta1.43
1 Month Change10.99%
3 Month Change3.35%
1 Year Change-7.13%
3 Year Change-4.09%
5 Year Change-12.01%
Change since IPO142.90%

Recent News & Updates

Jan 18

Sinclair's Wild Ride May Turn Down Again

Sinclair's new NBA, NHL and lender deals for its Diamond Sports subsidiary indicate that it is doubling down on what many had assumed was a "dead man walking" RSN business. There are also several other positive catalysts that have materialized since my last article. Political spending, a potential MLB lockout, and DIRECTV/DISH talks are all beneficial if they happen. Downside remains as well. Sinclair's "double down" puts essentially the company's entire net worth on the line with Diamond again. Failure could conceivably drag down the parent as well. It seems to me almost impossible that the Diamond bet can avoid severe cannibalization of existing pay-TV revenues, which would almost certainly be fatal to the company. I am no longer Bearish or Bullish. I will be Neutral at least until we see earnings and distributor response to launch.

Oct 28

Sinclair Broadcast: Ransomware, If Only That Was The Worst Of It

Sinclair's ransomware attack last week is unfortunate but doesn't alter the company's long-term prospects. Far more significant was the report, overlooked amidst the ransomware furor, that MLB is withholding certain streaming rights and bankruptcy for subsidiary Diamond is now openly predicted. MLB might successfully stop the service from launching, but it's unlikely. But the withheld rights will reduce subscriber levels and all but kill any meaningful gambling revenue. It is almost impossible for the new DTC to reach profitability under these conditions. In fact, it seems very likely that Diamond's losses will increase rather than decrease after launch. I am avoiding the stock until I have a better sense of the timing of Diamond's expected filing, which might prompt me to open a short position.

Aug 21
Sinclair Broadcast Group's (NASDAQ:SBGI) Dividend Will Be US$0.20

Sinclair Broadcast Group's (NASDAQ:SBGI) Dividend Will Be US$0.20

Sinclair Broadcast Group, Inc. ( NASDAQ:SBGI ) will pay a dividend of US$0.20 on the 15th of September. This means the...

Shareholder Returns

SBGIUS MediaUS Market
7D0.3%-2.8%-4.6%
1Y-7.1%-0.3%7.7%

Return vs Industry: SBGI underperformed the US Media industry which returned 0.7% over the past year.

Return vs Market: SBGI underperformed the US Market which returned 10.2% over the past year.

Price Volatility

Is SBGI's price volatile compared to industry and market?
SBGI volatility
SBGI Average Weekly Movement5.8%
Media Industry Average Movement8.4%
Market Average Movement6.6%
10% most volatile stocks in US Market15.7%
10% least volatile stocks in US Market2.4%

Stable Share Price: SBGI is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: SBGI's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
198611,600Chris Ripleyhttps://sbgi.net

Sinclair Broadcast Group, Inc. operates as a diversified television media company in the United States. The company operates in two segments, Broadcast and Local Sports. It owns or provides various programming, operating, sales, and other non-programming operating services to television stations.

Sinclair Broadcast Group Fundamentals Summary

How do Sinclair Broadcast Group's earnings and revenue compare to its market cap?
SBGI fundamental statistics
Market CapUS$2.21b
Earnings (TTM)US$142.00m
Revenue (TTM)US$6.17b

15.6x

P/E Ratio

0.4x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
SBGI income statement (TTM)
RevenueUS$6.17b
Cost of RevenueUS$3.99b
Gross ProfitUS$2.18b
ExpensesUS$2.04b
EarningsUS$142.00m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

Feb 23, 2022

Earnings per share (EPS)1.88
Gross Margin35.32%
Net Profit Margin2.30%
Debt/Equity Ratio-916.8%

How did SBGI perform over the long term?

See historical performance and comparison

Dividends

2.7%

Current Dividend Yield

42%

Payout Ratio

Valuation

Is Sinclair Broadcast Group undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: SBGI ($29.3) is trading below our estimate of fair value ($82.38)

Significantly Below Fair Value: SBGI is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: SBGI is poor value based on its PE Ratio (15.6x) compared to the US Media industry average (13x).

PE vs Market: SBGI is good value based on its PE Ratio (15.6x) compared to the US market (17x).


Price to Earnings Growth Ratio

PEG Ratio: SBGI is good value based on its PEG Ratio (0.2x)


Price to Book Ratio

PB vs Industry: SBGI has negative assets, so we can't compare its PB Ratio to the US Media industry average.


Future Growth

How is Sinclair Broadcast Group forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

78.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SBGI's forecast earnings growth (78.7% per year) is above the savings rate (2%).

Earnings vs Market: SBGI's earnings (78.7% per year) are forecast to grow faster than the US market (13% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: SBGI's revenue (2.2% per year) is forecast to grow slower than the US market (9.2% per year).

High Growth Revenue: SBGI's revenue (2.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if SBGI's Return on Equity is forecast to be high in 3 years time


Past Performance

How has Sinclair Broadcast Group performed over the past 5 years?

-64.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SBGI has a large one-off gain of $295.5M impacting its September 30 2021 financial results.

Growing Profit Margin: SBGI became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: SBGI has become profitable over the past 5 years, growing earnings by -64% per year.

Accelerating Growth: SBGI has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: SBGI has become profitable in the last year, making it difficult to compare its past year earnings growth to the Media industry (74.7%).


Return on Equity

High ROE: SBGI's liabilities exceed its assets, so it is difficult to calculate its Return on Equity.


Financial Health

How is Sinclair Broadcast Group's financial position?


Financial Position Analysis

Short Term Liabilities: SBGI has negative shareholder equity, which is a more serious situation than short term assets not covering short term liabilities.

Long Term Liabilities: SBGI has negative shareholder equity, which is a more serious situation than short term assets not covering long term liabilities.


Debt to Equity History and Analysis

Debt Level: SBGI has negative shareholder equity, which is a more serious situation than a high debt level.

Reducing Debt: SBGI's has negative shareholder equity, so we do not need to check if its debt has reduced over time.

Debt Coverage: SBGI's debt is not well covered by operating cash flow (7.5%).

Interest Coverage: SBGI's interest payments on its debt are not well covered by EBIT (0.9x coverage).


Balance Sheet


Dividend

What is Sinclair Broadcast Group current dividend yield, its reliability and sustainability?

2.73%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: SBGI's dividend (2.73%) is higher than the bottom 25% of dividend payers in the US market (1.35%).

High Dividend: SBGI's dividend (2.73%) is low compared to the top 25% of dividend payers in the US market (3.48%).


Stability and Growth of Payments

Stable Dividend: SBGI's dividends per share have been stable in the past 10 years.

Growing Dividend: SBGI's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (42.1%), SBGI's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: SBGI's dividends in 3 years are forecast to be well covered by earnings (25.6% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.0yrs

Average management tenure


CEO

Chris Ripley (44 yo)

5yrs

Tenure

US$12,769,638

Compensation

Mr. Christopher S. Ripley, also known as Chris, has been President and Chief Executive Officer of Sinclair Broadcast Group, Inc. (“Sinclair“) since January 2017. From April 2014 to January 2017, he served...


CEO Compensation Analysis

Compensation vs Market: Chris 's total compensation ($USD12.77M) is above average for companies of similar size in the US market ($USD3.70M).

Compensation vs Earnings: Chris 's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: SBGI's management team is seasoned and experienced (5 years average tenure).


Board Members

Experienced Board: SBGI's board of directors are seasoned and experienced ( 23.6 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2.1%.


Top Shareholders

Company Information

Sinclair Broadcast Group, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Sinclair Broadcast Group, Inc.
  • Ticker: SBGI
  • Exchange: NasdaqGS
  • Founded: 1986
  • Industry: Broadcasting
  • Sector: Media
  • Implied Market Cap: US$2.213b
  • Shares outstanding: 75.54m
  • Website: https://sbgi.net

Number of Employees


Location

  • Sinclair Broadcast Group, Inc.
  • 10706 Beaver Dam Road
  • Hunt Valley
  • Maryland
  • 21030
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/19 23:37
End of Day Share Price2022/01/19 00:00
Earnings2021/09/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.