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柯蒂斯-莱特（CW）与Sinclair, Inc.（SBGI）财务数据对比。点击上方公司名可切换其他公司
柯蒂斯-莱特的季度营收约是Sinclair, Inc.的1.1倍（$947.0M vs $836.0M），柯蒂斯-莱特净利率更高（14.5% vs 13.0%，领先1.4%），柯蒂斯-莱特同比增速更快（14.9% vs -16.7%），柯蒂斯-莱特自由现金流更多（$315.1M vs $79.0M），过去两年柯蒂斯-莱特的营收复合增速更高（15.2% vs 2.4%）
柯蒂斯-莱特公司是总部位于美国北卡罗来纳州戴维森的制造与服务提供商，在美国内外均设有工厂及业务网点。公司1929年由柯蒂斯、莱特及多家供应商合并成立，成立之初即为美国最大航空企业，二战期间为美军生产了超14.2万台航空发动机。
辛克莱公司（以辛克莱广播集团开展业务）是一家上市的美国电信综合企业，由创始人朱利安·辛克莱·史密斯的后代控股。公司总部位于马里兰州巴尔的摩郊县科基斯维尔，按电视台数量计算是美国第二大电视台运营商，仅次于奈克斯达媒体集团，在全国100多个市场拥有或运营193家电视台，覆盖美国40%的区域。
CW vs SBGI — 直观对比
营收规模更大
CW
是对方的1.1倍
$836.0M
营收增速更快
CW
高出31.6%
-16.7%
净利率更高
CW
高出1.4%
13.0%
自由现金流更多
CW
多$236.1M
$79.0M
两年增速更快
CW
近两年复合增速
2.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $947.0M | $836.0M |
| 净利润 | $137.0M | $109.0M |
| 毛利率 | 37.5% | — |
| 营业利润率 | 19.2% | 9.6% |
| 净利率 | 14.5% | 13.0% |
| 营收同比 | 14.9% | -16.7% |
| 净利润同比 | 16.2% | -38.1% |
| 每股收益（稀释后） | $3.69 | $1.62 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收CWSBGI
| Q4 25 | $947.0M | $836.0M | ||
| Q3 25 | $869.2M | $773.0M | ||
| Q2 25 | $876.6M | $784.0M | ||
| Q1 25 | $805.6M | $776.0M | ||
| Q4 24 | $824.3M | $1.0B | ||
| Q3 24 | $798.9M | $917.0M | ||
| Q2 24 | $784.8M | $829.0M | ||
| Q1 24 | $713.2M | $798.0M |
净利润CWSBGI
| Q4 25 | $137.0M | $109.0M | ||
| Q3 25 | $124.8M | $-1.0M | ||
| Q2 25 | $121.1M | $-64.0M | ||
| Q1 25 | $101.3M | $-156.0M | ||
| Q4 24 | $117.9M | $176.0M | ||
| Q3 24 | $111.2M | $94.0M | ||
| Q2 24 | $99.5M | $17.0M | ||
| Q1 24 | $76.5M | $23.0M |
毛利率CWSBGI
| Q4 25 | 37.5% | — | ||
| Q3 25 | 37.7% | — | ||
| Q2 25 | 37.2% | — | ||
| Q1 25 | 36.3% | — | ||
| Q4 24 | 38.5% | — | ||
| Q3 24 | 37.3% | — | ||
| Q2 24 | 36.2% | — | ||
| Q1 24 | 35.6% | — |
营业利润率CWSBGI
| Q4 25 | 19.2% | 9.6% | ||
| Q3 25 | 19.1% | 7.5% | ||
| Q2 25 | 17.8% | 2.7% | ||
| Q1 25 | 16.0% | 1.8% | ||
| Q4 24 | 18.8% | 26.5% | ||
| Q3 24 | 18.1% | 19.5% | ||
| Q2 24 | 16.4% | 7.7% | ||
| Q1 24 | 14.0% | 5.3% |
净利率CWSBGI
| Q4 25 | 14.5% | 13.0% | ||
| Q3 25 | 14.4% | -0.1% | ||
| Q2 25 | 13.8% | -8.2% | ||
| Q1 25 | 12.6% | -20.1% | ||
| Q4 24 | 14.3% | 17.5% | ||
| Q3 24 | 13.9% | 10.3% | ||
| Q2 24 | 12.7% | 2.1% | ||
| Q1 24 | 10.7% | 2.9% |
每股收益（稀释后）CWSBGI
| Q4 25 | $3.69 | $1.62 | ||
| Q3 25 | $3.31 | $-0.02 | ||
| Q2 25 | $3.19 | $-0.91 | ||
| Q1 25 | $2.68 | $-2.30 | ||
| Q4 24 | $3.09 | $2.64 | ||
| Q3 24 | $2.89 | $1.43 | ||
| Q2 24 | $2.58 | $0.27 | ||
| Q1 24 | $1.99 | $0.35 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | — | $866.0M |
| 总债务越低越好 | $957.9M | $4.4B |
| 股东权益账面价值 | $2.5B | $443.0M |
| 总资产 | $5.2B | $5.9B |
| 负债/权益比越低杠杆越低 | 0.38× | 9.84× |
8季度趋势，按日历期对齐
现金及短期投资CWSBGI
| Q4 25 | — | $866.0M | ||
| Q3 25 | — | $526.0M | ||
| Q2 25 | — | $616.0M | ||
| Q1 25 | $226.5M | $631.0M | ||
| Q4 24 | $385.0M | $697.0M | ||
| Q3 24 | — | $536.0M | ||
| Q2 24 | — | $378.0M | ||
| Q1 24 | $338.0M | $655.0M |
总债务CWSBGI
| Q4 25 | $957.9M | $4.4B | ||
| Q3 25 | $968.6M | $4.1B | ||
| Q2 25 | $958.4M | $4.1B | ||
| Q1 25 | $958.6M | $4.2B | ||
| Q4 24 | $1.0B | $4.1B | ||
| Q3 24 | $1.0B | $4.1B | ||
| Q2 24 | $1.0B | $4.1B | ||
| Q1 24 | $1.1B | $4.1B |
股东权益CWSBGI
| Q4 25 | $2.5B | $443.0M | ||
| Q3 25 | $2.5B | $347.0M | ||
| Q2 25 | $2.7B | $361.0M | ||
| Q1 25 | $2.6B | $436.0M | ||
| Q4 24 | $2.4B | $583.0M | ||
| Q3 24 | $2.5B | $415.0M | ||
| Q2 24 | $2.5B | $340.0M | ||
| Q1 24 | $2.4B | $333.0M |
总资产CWSBGI
| Q4 25 | $5.2B | $5.9B | ||
| Q3 25 | $5.1B | $5.6B | ||
| Q2 25 | $5.2B | $5.7B | ||
| Q1 25 | $5.0B | $5.8B | ||
| Q4 24 | $5.0B | $5.9B | ||
| Q3 24 | $4.9B | $5.8B | ||
| Q2 24 | $4.7B | $5.7B | ||
| Q1 24 | $4.6B | $6.0B |
负债/权益比CWSBGI
| Q4 25 | 0.38× | 9.84× | ||
| Q3 25 | 0.38× | 11.75× | ||
| Q2 25 | 0.35× | 11.30× | ||
| Q1 25 | 0.37× | 9.56× | ||
| Q4 24 | 0.43× | 7.02× | ||
| Q3 24 | 0.42× | 9.86× | ||
| Q2 24 | 0.43× | 12.08× | ||
| Q1 24 | 0.44× | 12.35× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $352.7M | $98.0M |
| 自由现金流经营现金流 - 资本支出 | $315.1M | $79.0M |
| 自由现金流率自由现金流/营收 | 33.3% | 9.4% |
| 资本支出强度资本支出/营收 | 4.0% | 2.3% |
| 现金转化率经营现金流/净利润 | 2.57× | 0.90× |
| 过去12个月自由现金流最近4个季度 | $553.7M | $115.0M |
8季度趋势，按日历期对齐
经营现金流CWSBGI
| Q4 25 | $352.7M | $98.0M | ||
| Q3 25 | $192.8M | $-36.0M | ||
| Q2 25 | $136.6M | $122.0M | ||
| Q1 25 | $-38.8M | $5.0M | ||
| Q4 24 | $301.3M | $198.0M | ||
| Q3 24 | $177.3M | $210.0M | ||
| Q2 24 | $111.3M | $-306.0M | ||
| Q1 24 | $-45.6M | $-4.0M |
自由现金流CWSBGI
| Q4 25 | $315.1M | $79.0M | ||
| Q3 25 | $175.9M | $-58.0M | ||
| Q2 25 | $117.2M | $105.0M | ||
| Q1 25 | $-54.5M | $-11.0M | ||
| Q4 24 | $278.0M | $175.0M | ||
| Q3 24 | $162.7M | $193.0M | ||
| Q2 24 | $100.3M | $-329.0M | ||
| Q1 24 | $-57.7M | $-25.0M |
自由现金流率CWSBGI
| Q4 25 | 33.3% | 9.4% | ||
| Q3 25 | 20.2% | -7.5% | ||
| Q2 25 | 13.4% | 13.4% | ||
| Q1 25 | -6.8% | -1.4% | ||
| Q4 24 | 33.7% | 17.4% | ||
| Q3 24 | 20.4% | 21.0% | ||
| Q2 24 | 12.8% | -39.7% | ||
| Q1 24 | -8.1% | -3.1% |
资本支出强度CWSBGI
| Q4 25 | 4.0% | 2.3% | ||
| Q3 25 | 1.9% | 2.8% | ||
| Q2 25 | 2.2% | 2.2% | ||
| Q1 25 | 2.0% | 2.1% | ||
| Q4 24 | 2.8% | 2.3% | ||
| Q3 24 | 1.8% | 1.9% | ||
| Q2 24 | 1.4% | 2.8% | ||
| Q1 24 | 1.7% | 2.6% |
现金转化率CWSBGI
| Q4 25 | 2.57× | 0.90× | ||
| Q3 25 | 1.54× | — | ||
| Q2 25 | 1.13× | — | ||
| Q1 25 | -0.38× | — | ||
| Q4 24 | 2.56× | 1.13× | ||
| Q3 24 | 1.59× | 2.23× | ||
| Q2 24 | 1.12× | -18.00× | ||
| Q1 24 | -0.60× | -0.17× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
CW
| Naval Power | $417.4M | 44% |
| Defense Electronics | $268.3M | 28% |
| Aerospace Industrial | $262.4M | 28% |
SBGI
| Distribution Revenue | $384.0M | 46% |
| Core Advertising Revenue | $312.0M | 37% |
| Tennis Segment | $62.0M | 7% |
| Other | $40.0M | 5% |
| Other Media Non Media Revenuesand Intercompany Revenues | $24.0M | 3% |
| Political Advertising Revenue | $14.0M | 2% |
