Gray Media Inc. (GTN.A) vs Sinclair, Inc. (SBGI)

Gray Media Inc. and Sinclair, Inc. are both Broadcasting companies. Sinclair, Inc. is the larger, with a market value of $921.3M against $671.6M — 1.4× the size. Gray Media Inc. has negative trailing earnings, so its P/E is not meaningful; Sinclair, Inc. trades at 16.8×. Sinclair, Inc. grew revenue faster over the last twelve months: −6.46% against −11.3%. Sinclair, Inc. has the higher net margin (1.60% vs −1.84%) and the higher return on invested capital (3.57% vs 3.25%). Both pay a dividend; Sinclair, Inc. yields more (7.13% vs 4.26%). Across the 21 metrics below, Sinclair, Inc. leads on 13 and Gray Media Inc. on 8.

Valuation

Metric GTN.A SBGI Broadcasting median
P/E n/m 16.82 —
P/S 0.17 0.28 0.14
P/B 0.25 3.03 0.86
Price to free cash flow 3.58 9.71 6.42
EV/EBITDA 8.64 7.96 8.64
EV/Sales 1.96 1.34 1.31
Earnings yield (12.68%) 5.95% (16.05%)
Free cash flow yield 27.90% 10.30% 0.00%

Profitability

Metric GTN.A SBGI Broadcasting median
Gross margin 26.05% 47.70% 40.36%
Operating margin 13.82% 6.60% (12.31%)
Net margin (1.84%) 1.60% (8.55%)
Free cash flow margin 4.64% 2.92% (0.22%)
Return on equity (2.69%) 17.42% (5.70%)
Return on assets (0.56%) 0.93% (5.59%)
Return on invested capital 3.25% 3.57% (0.41%)

Growth

Metric GTN.A SBGI Broadcasting median
Revenue growth (TTM) (11.30%) (6.46%) (11.30%)
EPS growth (last fiscal year) (141.96%) (134.54%) —
Revenue growth, 5-year CAGR 5.39% (11.82%) 1.91%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric GTN.A SBGI Broadcasting median
Debt to equity 2.13 13.35 0.46
Current ratio 0.95 1.94 1.41
Net debt to EBITDA 7.66 7.09 3.66

Dividend

Metric GTN.A SBGI Broadcasting median
Dividend yield 4.26% 7.13% 4.14%
Payout ratio 0.14 0.34 0.00

Size

Metric GTN.A SBGI Broadcasting median
Market cap 671.57m 921.33m 185.13m

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