Sinclair, Inc.

Listed Company

SBGICIK 0001971213NasdaqAcceleratedTelevision Broadcasting StationsMarylandFY ends Dec 31

Period

FY 2025

Revenue

$3.17B

Net Income

$-112.00M

Total Assets

$5.95B

Equity

$443.00M

Shares Out

—

Op. Cash Flow

$189.00M

Business

Sinclair, Inc. is a diversified media company that operates and provides programming for broadcast television stations and national networks, and owns sports and non-media assets. It offers local and national news, live and local sports, syndicated and original programming, Tennis Channel and related streaming services, digital media and marketing technology, technical and software services, and various real estate and venture investments. Sinclair reports two primary segments—local media (television stations and networks) and tennis (Tennis Channel and streaming/FAST offerings). Its content is distributed across over-the-air broadcast stations in 86 U.S. markets and via MVPDs, OTT distributors, digital platforms, and third-party channels.

Summary from filing dated 2025-02-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Media Revenue	3,142	3,511	3,106	3,894	6,083
Non-media revenue	27	37	28	34	51
Total revenue	3,169	3,548	3,134	3,928	6,134
Media programming and production expenses	1,653	1,661	1,611	1,942	4,291
Media selling, general and administrative expenses	806	794	747	812	908
Amortization of program contract costs	74	74	80	90	93
Non-media expenses	48	53	49	44	57
Depreciation of property and equipment	104	101	105	100	114
Corporate general and administrative expenses	185	185	694	160	170
Amortization of definite-lived intangible and other assets	145	149	166	221	477
Loss on deconsolidation of subsidiary	0	0	10	−3,357	0
(Gain) loss on asset dispositions and other, net	−19	−20	3	−64	−71
Total operating expenses	2,996	2,997	3,465	−52	6,039
Operating income (loss)	173	551	−331	3,980	95
Interest expense including amortization of debt discount and deferred financing costs	−395	−304	−305	−296	—
Gain on extinguishment of debt	6	1	15	3	−7
Income from equity method investments	61	118	29	56	45
Other income (expense), net	2	29	−45	−129	−14
Total other expense, net	−326	−156	−306	−366	−594
(Loss) income before income taxes	−153	395	−637	3,614	−499
INCOME TAX BENEFIT (PROVISION)	54	−76	358	−913	173
NET (LOSS) INCOME	−99	319	−279	2,701	−326
Net loss attributable to the redeemable noncontrolling interests	0	0	4	−20	−18
Net income attributable to the noncontrolling interests	−13	−9	−16	−29	−70
NET (LOSS) INCOME ATTRIBUTABLE TO SINCLAIR	−112	310	−291	2,652	−414
Basic (loss) earnings per share (in dollars per share)	−1.61	4.72	−4.46	37.54	−5.51
Diluted (loss) earnings per share (in dollars per share)	−1.61	4.69	−4.46	37.54	−5.51
Basic weighted average common shares outstanding (in shares)	69	66	65	71	75
Diluted weighted average common and common equivalent shares outstanding (in shares)	69	66	65	71	75

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	866	697	662	884	—
Accounts receivable, net of allowance for doubtful accounts of $5 and $6, respectively	687	637	616	612	—
Income taxes receivable	0	5	8	5	—
Prepaid expenses and other current assets	147	146	189	182	—
Total current assets	1,700	1,485	1,475	1,683	—
Property and equipment, net	655	705	715	728	—
Operating lease assets	110	123	142	145	—
Goodwill	2,085	2,082	2,082	2,088	2,088
Indefinite-lived intangible assets	149	150	150	150	150
Definite-lived intangible assets, net	533	630	779	946	—
Other assets	717	710	742	964	—
Total assets	5,949	5,885	6,085	6,704	—
Accounts payable and accrued liabilities	496	416	913	397	—
Income taxes payable	21	0	—	—	—
Current portion of notes payable, finance leases and commercial bank financing	25	38	36	38	—
Current portion of operating lease liabilities	24	22	21	23	—
Current portion of program contracts payable	70	69	76	83	—
Other current liabilities	67	60	57	67	—
Total current liabilities	703	605	1,103	608	—
Notes payable, finance leases and commercial bank financing, less current portion	4,358	4,091	4,139	4,227	—
Operating lease liabilities, less current portion	112	130	152	154	—
Program contracts payable, less current portion	13	13	14	10	—
Deferred tax liabilities	213	335	252	610	—
Other long-term liabilities	180	195	204	220	—
Total liabilities	5,579	5,369	5,864	5,829	—
Commitments and contingencies (See Note 11)	—	—	—	—	—
Additional paid-in capital	613	570	517	624	—
(Accumulated deficit) retained earnings	−171	10	−234	122	—
Accumulated other comprehensive income	0	2	1	1	—
Equity, Attributable to Parent, Total	443	583	285	748	—
Noncontrolling interests	−73	−67	−64	−67	—
Total equity	370	516	221	681	−1,706
Total liabilities and equity	5,949	5,885	6,085	6,704	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Stock-based compensation	51	51	45	50	60
Deferred tax (benefit) provision	−121	82	−358	906	−92
Loss (gain) on asset dispositions and other, net	26	−16	3	—	—
Loss from investments	34	7	91	133	—
Distributions from investments	74	31	32	87	54
Debt issuance costs	53	0	0	—	—
Increase in accounts receivable	−47	−28	−8	20	−187
(Increase) decrease in prepaid expenses and other current assets	−9	33	−32	−96	−86
Increase (decrease) in accounts payable and accrued and other current liabilities	43	−495	512	−14	113
Net change in current and long-term net income taxes payable/receivable	23	−11	−3	147	−52
Decrease in program contracts payable	−74	−80	−88	−103	−102
Other, net	−21	0	3	−2	16
Net cash flows from operating activities	189	98	235	799	327
Acquisition of property and equipment	−74	−84	−92	−105	−80
Acquisition of businesses, net of cash acquired	−29	0	0	—	—
Purchases of investments	−51	−50	−72	−75	−256
Distributions and proceeds from investments	30	203	206	99	26
Other, net	4	8	10	15	−3
Net cash flows (used in) from investing activities	−120	77	52	−381	−246
Proceeds from notes payable and commercial bank financing	1,805	0	0	728	357
Repayments of notes payable, commercial bank financing and finance leases	−1,515	−61	−85	−863	−601
Repurchase of outstanding Class A Common Stock	0	0	−153	−120	−61
Dividends paid on Class A and Class B Common Stock	−69	−66	−65	−70	−60
Repurchase of redeemable subsidiary preferred equity	0	0	−190	0	0
Debt issuance costs	−96	0	0	—	—
Distributions to noncontrolling interests	−17	−12	−13	−12	−95
Other, net	−8	−1	−3	−9	−53
Net cash flows from (used in) financing activities	100	−140	−509	−353	−524
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	169	35	−222	65	−443

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro