Recent News
On August 5, 2026 the company filed its second-quarter release highlighting Tennis Channel audience growth across major tournaments and broader distribution gains. The June–July period included community programming partnerships and publicity around local-news expansions. The company’s June 30, 2026 SEC filing disclosed ongoing regulatory inquiries and referenced multiple putative class actions related to industry data exchanges.
Technical Analysis
ADX at 14.48 indicates no dominant directional trend; the market lacks a strong trending bias and favors range-bound behavior for now.
DI+ at 19.06 trending lower while DI– at 22.97 trending higher signals bearish directional pressure; the directional indicators point to sellers holding a marginal edge over recent sessions.
MACD sits negative at -0.24 and declines, with the MACD line below the signal (-0.12); momentum therefore registers as bearish and suggests continuing downside momentum until MACD shows a dip-and-reverse or crosses above the signal line.
MRO at 12.86 (positive) implies price currently sits above the model target and faces downward pressure toward fair-value levels; the oscillator’s recent decrease reinforces limited near-term downside pressure becoming the more probable mean-reversion path.
RSI at 45.73 and falling positions the stock below neutral and toward the lower-half of the range, consistent with limited selling momentum but no oversold extreme that would imply an immediate bounce.
Price trades beneath short- and long-term averages: the close at $12.74 lies below the 12-day EMA ($13.46), 20-day average ($13.63), 50-day ($13.96) and 200-day ($14.21). That alignment biases short-term price behavior toward consolidation or further test of lower support bands rather than immediate trend reversal.
The price sits below the 1x Bollinger lower band ($13.09), placing the share price outside the typical one-standard-deviation trading band and increasing the probability of volatility-driven reversion toward the mean if volume picks up.
Ichimoku components (Senkou A $14.74, Senkou B $14.57) place current price beneath the cloud, reinforcing a short-term bearish context until price reclaims cloud support or moving averages turn higher.
Fundamental Analysis
Revenue and margins: total revenue registers at $840,000,000 with YoY revenue growth reported at 2.97% and an overall revenue growth figure of 4.09%. Gross margin stands at 49.52% and rose modestly YoY (+6.67% YoY) and QoQ (+1.18% QoQ), indicating stable content monetization and cost control in core broadcasting and Tennis Channel operations.
Operating performance: operating margin equals 6.55% with operating margin QoQ up 55.42% and YoY up 71.1%, while EBIT reached $115,000,000 and EBITDA $201,000,000. EBIT margin at 13.69% improved YoY by 16.90% but contracted QoQ by -3.12%, leaving profitability better than earlier quarters yet sensitive to short-term swings in advertising and retransmission fees when measured quarter-to-quarter. Compared with the industry peer mean EBIT margin of 16.80% and median of 18.41%, Sinclair’s EBIT margin sits below both the industry peer mean and median but above the industry peer low.
Earnings and cash flow: reported EPS totaled $-1.61 against an estimate of $-0.30, producing an EPS shortfall of $-1.31 and an EPS surprise of -436.67%. Net income from continuing operations was negative ($-77,000,000) while operating cash flow remained positive at $66,000,000; free cash flow measured $46,000,000 with a free-cash-flow yield of 4.53% and year-over-year free cash growth of -106.10% (data reflects the provided YoY metric). Cash and short-term investments total $604,000,000, and the company reported a cash conversion ratio above 1 at 1.246, indicating the business converts sales to cash efficiently despite GAAP loss.
Leverage and coverage: total debt stands at $4,192,000,000 with net debt of $3,455,000,000. Debt-to-assets equals 76.48% and debt-to-equity reads 1,103.16% (reflecting the small equity base of $380,000,000). Debt-to-EBITDA near 20.86 and interest coverage at 1.44 signal elevated leverage and constrained ability to absorb interest costs relative to operating earnings; interest coverage sits well below the industry peer mean and median. These metrics create pronounced sensitivity to interest expense and cyclical revenue shifts.
Balance-sheet and returns: total assets $5,481,000,000, total equity $380,000,000, and return on equity of -20.0% reflect negative GAAP profitability and a highly leveraged capital structure. Return on invested capital registers modestly positive at 1.55%, supporting the view that operational returns exist but equity returns remain impaired by leverage and one-time items.
Valuation context: price-to-book at 2.67 sits slightly above the industry peer mean (2.37) and near the industry peer median (2.38) while enterprise multiple equals 22.91. Price-to-earnings is negative due to losses. WMDST values the stock as under-valued based on enterprise and cash-flow metrics despite the elevated leverage and profit variability; the valuation view balances a meaningful free-cash-flow yield and a market capitalization that trails enterprise value relative to operating cash generation.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-06-30 |
| REPORT DATE: | 2026-08-05 |
| NEXT REPORT DATE: | 2026-11-04 |
| CASH FLOW | Begin Period Cash Flow | $ 844.0 M |
| Operating Cash Flow | $ 66.0 M | |
| Capital Expenditures | $ -20.00 M | |
| Change In Working Capital | $ 5.0 M | |
| Dividends Paid | $ -18.00 M | |
| Cash Flow Delta | $ -240.00 M | |
| End Period Cash Flow | $ 604.0 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 840.0 M | |
| Forward Revenue | $ 98.1 M | |
| COSTS | ||
| Cost Of Revenue | $ 424.0 M | |
| Depreciation | $ 26.0 M | |
| Depreciation and Amortization | $ 68.0 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 785.0 M | |
| PROFITABILITY | ||
| Gross Profit | $ 416.0 M | |
| EBITDA | $ 201.0 M | |
| EBIT | $ 115.0 M | |
| Operating Income | $ 55.0 M | |
| Interest Income | — | |
| Interest Expense | $ 80.0 M | |
| Net Interest Income | $ -80.00 M | |
| Income Before Tax | $ 35.0 M | |
| Tax Provision | $ 112.0 M | |
| Tax Rate | 40.0 % | |
| Net Income | $ -76.00 M | |
| Net Income From Continuing Operations | $ -77.00 M | |
| EARNINGS | ||
| EPS Estimate | $ -0.30 | |
| EPS Actual | $ -1.61 | |
| EPS Difference | $ -1.31 | |
| EPS Surprise | -436.667 % | |
| Forward EPS | $ -0.49 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 5.5 B | |
| Intangible Assets | $ 2.7 B | |
| Net Tangible Assets | $ -2.32 B | |
| Total Current Assets | $ 1.4 B | |
| Cash and Short-Term Investments | $ 604.0 M | |
| Cash | $ 604.0 M | |
| Net Receivables | $ 647.0 M | |
| Inventory | — | |
| Long-Term Investments | $ 65.0 M | |
| LIABILITIES | ||
| Accounts Payable | — | |
| Short-Term Debt | $ 23.0 M | |
| Total Current Liabilities | $ 714.0 M | |
| Net Debt | $ 3.5 B | |
| Total Debt | $ 4.2 B | |
| Total Liabilities | $ 5.2 B | |
| EQUITY | ||
| Total Equity | $ 380.0 M | |
| Retained Earnings | $ -263.00 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 5.26 | |
| Shares Outstanding | 72.263 M | |
| Revenue Per-Share | $ 11.62 | |
| VALUATION | Market Capitalization | $ 1.0 B |
| Enterprise Value | $ 4.6 B | |
| Enterprise Multiple | 22.907 | |
| Enterprise Multiple QoQ | -93.712 % | |
| Enterprise Multiple YoY | -58.854 % | |
| Enterprise Multiple IPRWA | high: 28.375 SBGI: 22.907 mean: 8.05 median: 4.84 low: -71.178 |
|
| EV/R | 5.481 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 14.424 | |
| Asset To Liability | 1.059 | |
| Debt To Capital | 0.917 | |
| Debt To Assets | 0.765 | |
| Debt To Assets QoQ | -2.136 % | |
| Debt To Assets YoY | 2.011 % | |
| Debt To Assets IPRWA | high: 0.987 SBGI: 0.765 mean: 0.479 median: 0.445 low: 0.025 |
|
| Debt To Equity | 11.032 | |
| Debt To Equity QoQ | 14.128 % | |
| Debt To Equity YoY | -6.318 % | |
| Debt To Equity IPRWA | SBGI: 11.032 high: 10.075 mean: 1.941 median: 1.24 low: -5.997 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 2.674 | |
| Price To Book QoQ | 17.172 % | |
| Price To Book YoY | 3.8 % | |
| Price To Book IPRWA | high: 2.845 SBGI: 2.674 median: 2.375 mean: 2.374 low: -1.394 |
|
| Price To Earnings (P/E) | -8.735 | |
| Price To Earnings QoQ | -199.729 % | |
| Price To Earnings YoY | -42.963 % | |
| Price To Earnings IPRWA | high: 62.696 mean: 37.443 median: 37.332 low: 29.798 SBGI: -8.735 |
|
| PE/G Ratio | 0.045 | |
| Price To Sales (P/S) | 1.21 | |
| Price To Sales QoQ | -8.402 % | |
| Price To Sales YoY | 1.979 % | |
| Price To Sales IPRWA | high: 9.401 median: 9.401 mean: 8.307 SBGI: 1.21 low: 0.984 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | -31.47 | |
| Forward PE/G | 0.161 | |
| Forward P/S | 11.416 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -78.537 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.149 | |
| Asset Turnover Ratio QoQ | 8.42 % | |
| Asset Turnover Ratio YoY | 8.966 % | |
| Asset Turnover Ratio IPRWA | high: 0.228 SBGI: 0.149 mean: 0.091 median: 0.089 low: 0.012 |
|
| Receivables Turnover | 1.315 | |
| Receivables Turnover Ratio QoQ | 7.347 % | |
| Receivables Turnover Ratio YoY | 8.987 % | |
| Receivables Turnover Ratio IPRWA | high: 3.305 median: 3.305 mean: 2.944 SBGI: 1.315 low: 1.189 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 69.415 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 69.415 | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 76.74 SBGI: 69.415 mean: 27.567 median: 25.556 low: -30.876 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 1.246 | |
| CapEx To Revenue | -0.024 | |
| CapEx To Depreciation | -0.769 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 4.4 B | |
| Net Invested Capital | $ 4.4 B | |
| Invested Capital | $ 4.4 B | |
| Net Tangible Assets | $ -2.32 B | |
| Net Working Capital | $ 674.0 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.846 | |
| Current Ratio | 1.944 | |
| Current Ratio QoQ | -19.757 % | |
| Current Ratio YoY | 2.862 % | |
| Current Ratio IPRWA | high: 5.201 median: 5.201 mean: 4.512 SBGI: 1.944 low: 0.17 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 20.856 | |
| Cost Of Debt | 1.103 % | |
| Interest Coverage Ratio | 1.438 | |
| Interest Coverage Ratio QoQ | -334.978 % | |
| Interest Coverage Ratio YoY | 1864.603 % | |
| Interest Coverage Ratio IPRWA | high: 20.229 median: 20.229 mean: 16.876 SBGI: 1.438 low: -9.857 |
|
| Operating Cash Flow Ratio | -0.034 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | — | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | -4.222 | |
| Dividend Payout Ratio | -0.237 | |
| Dividend Rate | $ 0.25 | |
| Dividend Yield | 0.018 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -5.107 % | |
| Revenue Growth | 4.089 % | |
| Revenue Growth QoQ | -217.873 % | |
| Revenue Growth YoY | 296.605 % | |
| Revenue Growth IPRWA | high: 42.765 % mean: 4.201 % SBGI: 4.089 % median: -2.49 % low: -8.692 % |
|
| Earnings Growth | -195.266 % | |
| Earnings Growth QoQ | -116.272 % | |
| Earnings Growth YoY | 687.363 % | |
| Earnings Growth IPRWA | high: 250.0 % median: 71.429 % mean: 38.145 % SBGI: -195.266 % low: -248.718 % |
|
| MARGINS | ||
| Gross Margin | 49.524 % | |
| Gross Margin QoQ | 1.179 % | |
| Gross Margin YoY | 6.666 % | |
| Gross Margin IPRWA | high: 93.148 % SBGI: 49.524 % mean: 37.725 % median: 34.368 % low: 11.234 % |
|
| EBIT Margin | 13.69 % | |
| EBIT Margin QoQ | -312.446 % | |
| EBIT Margin YoY | 1689.542 % | |
| EBIT Margin IPRWA | high: 18.414 % median: 18.414 % mean: 16.8 % SBGI: 13.69 % low: -12.794 % |
|
| Return On Sales (ROS) | 6.548 % | |
| Return On Sales QoQ | 55.424 % | |
| Return On Sales YoY | 71.1 % | |
| Return On Sales IPRWA | high: 18.164 % median: 14.279 % mean: 14.236 % SBGI: 6.548 % low: -16.389 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 46.0 M | |
| Free Cash Flow Yield | 4.526 % | |
| Free Cash Flow Yield QoQ | 72.288 % | |
| Free Cash Flow Yield YoY | -59.908 % | |
| Free Cash Flow Yield IPRWA | SBGI: 4.526 % high: 4.417 % mean: 0.415 % median: -0.304 % low: -4.942 % |
|
| Free Cash Growth | 64.286 % | |
| Free Cash Growth QoQ | -199.58 % | |
| Free Cash Growth YoY | -106.096 % | |
| Free Cash Growth IPRWA | high: 691.935 % SBGI: 64.286 % mean: -157.724 % low: -197.53 % median: -197.53 % |
|
| Free Cash To Net Income | -0.605 | |
| Cash Flow Margin | -2.857 % | |
| Cash Flow To Earnings | 0.316 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.01 | |
| Return On Assets (ROA) | -1.35 % | |
| Return On Assets QoQ | -495.894 % | |
| Return On Assets YoY | 20.751 % | |
| Return On Assets IPRWA | high: 4.438 % median: 0.67 % mean: 0.646 % SBGI: -1.35 % low: -8.306 % |
|
| Return On Capital Employed (ROCE) | 2.412 % | |
| Return On Equity (ROE) | -0.2 | |
| Return On Equity QoQ | -566.962 % | |
| Return On Equity YoY | 12.81 % | |
| Return On Equity IPRWA | high: 0.598 median: 0.598 mean: 0.495 SBGI: -0.2 low: -0.44 |
|
| DuPont ROE | -17.946 % | |
| Return On Invested Capital (ROIC) | 1.554 % | |
| Return On Invested Capital QoQ | -341.304 % | |
| Return On Invested Capital YoY | 1312.727 % | |
| Return On Invested Capital IPRWA | high: 28.172 % median: 28.172 % mean: 23.34 % SBGI: 1.554 % low: -7.224 % |
|