Sinclair
Local television operator covering roughly 80 US markets and close to four in ten TV households.
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Profile
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
Key statistics
Year to date −5.6% · Average volume (30d) 497.2K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| May 5, 2026 | Guggenheim | Reiterate | Buy | $19 | ||
| Apr 15, 2026 | Deutsche Bank | Target | $28 | $17 | ||
| Nov 7, 2024 | Wells Fargo | Upgrade | Underweight | Equal Weight | $19 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | −$0.24 | −$1.06 | −341.7% | $839.0M | $840.0M | +0.1% | +6.11% |
| Apr 30, 2026Q1 FY26 | −$0.68 | $0.28 | +141.2% | $792.6M | $807.0M | +1.8% | −2.44% |
| Feb 25, 2026Q4 FY25 | −$0.03 | $0.04 | +233.3% | $838.6M | $836.0M | −0.3% | +17.53% |
| Nov 5, 2025Q3 FY25 | −$0.65 | −$0.02 | +96.9% | $840.3M | $773.0M | −8.0% | +17.90% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $776.0M | $784.0M | $773.0M | $836.0M | $807.0M | $840.0M | |
| Gross profit | $358.0M | $364.0M | $360.0M | $339.0M | $297.0M | $385.0M | |
| Operating income | $14.0M | $21.0M | $58.0M | $80.0M | $34.0M | $50.0M | |
| Net income | −$156.0M | −$64.0M | −$1.0M | $109.0M | $20.0M | −$76.0M | |
| Diluted EPS | −$2.30 | −$0.92 | −$0.01 | $1.55 | $0.28 | −$1.06 | |
| Gross margin | 46.1% | 46.4% | 46.6% | 40.6% | 36.8% | 45.8% | |
| Operating margin | 1.8% | 2.7% | 7.5% | 9.6% | 4.2% | 6.0% |
Fiscal years (4-quarter sums)FY21 $6.13B · FY22 $3.93B · FY23 $3.13B · FY24 $3.55B · FY25 $3.17B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $604.0M · Total debt $4.19B · Total assets $5.48B · Shareholders' equity $380.0M
Dividends
Raised for 14 straight years — most recently to $0.25 from $0.20 in Mar 2022. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| May 26, 2026 | May 26 | Jun 9 | $0.25 | |
| Mar 10, 2026 | Mar 10 | Mar 24 | $0.25 | |
| Dec 1, 2025 | Dec 1 | Dec 15 | $0.25 | |
| Aug 29, 2025 | Aug 29 | Sep 15 | $0.25 | |
| May 30, 2025 | May 30 | Jun 13 | $0.25 | |
| Mar 10, 2025 | Mar 10 | Mar 24 | $0.25 | |
| Dec 2, 2024 | Dec 2 | Dec 16 | $0.25 | |
| Aug 30, 2024 | Aug 30 | Sep 13 | $0.25 |
Ownership
Shares outstanding 69.89M · Float —
Float — provider float is below the insider stake.
The provider's float is smaller than the insider stake it should exclude, so it is not shown.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| David D. Smith | 27.01M | 38.00% | 13D | May 8, 2026 |
| J. Duncan Smith · director, 10 percent owner, officer: Vice President/Secretary | 5.92M | 8.48% | Form 4 | Mar 12, 2026 |
| Gamco Investors, Inc. et al | 3.94M | 5.63% | 13F | Aug 12, 2026 |
| GAMCO Asset Management Inc. | 3.59M | 7.90% | 13D | Apr 15, 2025 |
| BlackRock, Inc. | 3.48M | 4.98% | 13F | Aug 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 10, 2026 | David B. Gibber | officer: EVP & Chief Legal Officer | −29,246 | $13.74 |
| Jul 2, 2026 | Daniel C. Keith | director | −17,000 | $15.02 |
| May 4, 2026 | Benson E. Legg | director | −31,500 | $14.60 |
| Apr 2, 2026 | Daniel C. Keith | director | −22,613 | $13.10 |
| Apr 1, 2026 | Daniel C. Keith | director | −1,398 | $13.10 |
Peers
- 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.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Sinclair | $14.43 | +0.45% | $1.00B | 19.0 | 27.8 | 0.3 | +7.1% |
| Nexstar Media Group | $179.00 | −2.33% | $5.60B | 34.9 | 6.1 | 0.8 | +62.3% |
| Gray Media | $4.82 | −0.23% | $471.7M | — | 2.8 | 0.1 | +8.7% |
| E.W. Scripps | $3.21 | −1.68% | $259.5M | — | — | 0.1 | −9.2% |
| Fox Class A | $68.42 | −0.01% | $30.00B | 17.8 | 11.6 | 1.6 | +28.1% |
| Median | 26.4 | 6.1 | 0.5 | +18.4% |