vs
Match Group（MTCH）与Sinclair, Inc.（SBGI）财务数据对比。点击上方公司名可切换其他公司
Match Group的季度营收约是Sinclair, Inc.的1.1倍（$878.0M vs $836.0M），Match Group净利率更高（23.9% vs 13.0%，领先10.8%），Match Group同比增速更快（2.1% vs -16.7%），Match Group自由现金流更多（$308.1M vs $79.0M），过去两年Sinclair, Inc.的营收复合增速更高（2.4% vs 1.1%）
美国互联网科技企业Match Group总部位于得克萨斯州达拉斯，旗下拥有全球规模最大的在线约会服务品牌矩阵，运营Tinder、Hinge、Plenty of Fish等多款全球知名约会产品。2020年7月公司从IAC分拆为独立上市公司，截至2019年全球付费订阅用户达930万，其中近半数来自北美地区。
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。
MTCH vs SBGI — 直观对比
营收规模更大
MTCH
是对方的1.1倍
$836.0M
营收增速更快
MTCH
高出18.8%
-16.7%
净利率更高
MTCH
高出10.8%
13.0%
自由现金流更多
MTCH
多$229.1M
$79.0M
两年增速更快
SBGI
近两年复合增速
1.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $878.0M | $836.0M |
| 净利润 | $209.7M | $109.0M |
| 毛利率 | 74.7% | — |
| 营业利润率 | 32.4% | 9.6% |
| 净利率 | 23.9% | 13.0% |
| 营收同比 | 2.1% | -16.7% |
| 净利润同比 | 32.5% | -38.1% |
| 每股收益（稀释后） | $0.83 | $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MTCHSBGI
| Q4 25 | $878.0M | $836.0M | ||
| Q3 25 | $914.3M | $773.0M | ||
| Q2 25 | $863.7M | $784.0M | ||
| Q1 25 | $831.2M | $776.0M | ||
| Q4 24 | $860.2M | $1.0B | ||
| Q3 24 | $895.5M | $917.0M | ||
| Q2 24 | $864.1M | $829.0M | ||
| Q1 24 | $859.6M | $798.0M |
净利润MTCHSBGI
| Q4 25 | $209.7M | $109.0M | ||
| Q3 25 | $160.8M | $-1.0M | ||
| Q2 25 | $125.5M | $-64.0M | ||
| Q1 25 | $117.6M | $-156.0M | ||
| Q4 24 | $158.3M | $176.0M | ||
| Q3 24 | $136.5M | $94.0M | ||
| Q2 24 | $133.3M | $17.0M | ||
| Q1 24 | $123.2M | $23.0M |
毛利率MTCHSBGI
| Q4 25 | 74.7% | — | ||
| Q3 25 | 73.0% | — | ||
| Q2 25 | 72.0% | — | ||
| Q1 25 | 71.5% | — | ||
| Q4 24 | 72.5% | — | ||
| Q3 24 | 71.7% | — | ||
| Q2 24 | 71.6% | — | ||
| Q1 24 | 70.1% | — |
营业利润率MTCHSBGI
| Q4 25 | 32.4% | 9.6% | ||
| Q3 25 | 24.2% | 7.5% | ||
| Q2 25 | 22.5% | 2.7% | ||
| Q1 25 | 20.8% | 1.8% | ||
| Q4 24 | 26.0% | 26.5% | ||
| Q3 24 | 23.5% | 19.5% | ||
| Q2 24 | 23.7% | 7.7% | ||
| Q1 24 | 21.5% | 5.3% |
净利率MTCHSBGI
| Q4 25 | 23.9% | 13.0% | ||
| Q3 25 | 17.6% | -0.1% | ||
| Q2 25 | 14.5% | -8.2% | ||
| Q1 25 | 14.1% | -20.1% | ||
| Q4 24 | 18.4% | 17.5% | ||
| Q3 24 | 15.2% | 10.3% | ||
| Q2 24 | 15.4% | 2.1% | ||
| Q1 24 | 14.3% | 2.9% |
每股收益（稀释后）MTCHSBGI
| Q4 25 | $0.83 | $1.62 | ||
| Q3 25 | $0.62 | $-0.02 | ||
| Q2 25 | $0.49 | $-0.91 | ||
| Q1 25 | $0.44 | $-2.30 | ||
| Q4 24 | $0.59 | $2.64 | ||
| Q3 24 | $0.51 | $1.43 | ||
| Q2 24 | $0.48 | $0.27 | ||
| Q1 24 | $0.44 | $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 | $1.0B | $866.0M |
| 总债务越低越好 | $3.5B | $4.4B |
| 股东权益账面价值 | $-253.5M | $443.0M |
| 总资产 | $4.5B | $5.9B |
| 负债/权益比越低杠杆越低 | — | 9.84× |
8季度趋势，按日历期对齐
现金及短期投资MTCHSBGI
| Q4 25 | $1.0B | $866.0M | ||
| Q3 25 | $1.1B | $526.0M | ||
| Q2 25 | $340.4M | $616.0M | ||
| Q1 25 | $414.2M | $631.0M | ||
| Q4 24 | $970.7M | $697.0M | ||
| Q3 24 | $860.9M | $536.0M | ||
| Q2 24 | $843.6M | $378.0M | ||
| Q1 24 | $920.9M | $655.0M |
总债务MTCHSBGI
| Q4 25 | $3.5B | $4.4B | ||
| Q3 25 | — | $4.1B | ||
| Q2 25 | — | $4.1B | ||
| Q1 25 | $3.4B | $4.2B | ||
| Q4 24 | $3.8B | $4.1B | ||
| Q3 24 | $3.8B | $4.1B | ||
| Q2 24 | $3.8B | $4.1B | ||
| Q1 24 | $3.8B | $4.1B |
股东权益MTCHSBGI
| Q4 25 | $-253.5M | $443.0M | ||
| Q3 25 | $-223.9M | $347.0M | ||
| Q2 25 | $-230.9M | $361.0M | ||
| Q1 25 | $-182.7M | $436.0M | ||
| Q4 24 | $-63.7M | $583.0M | ||
| Q3 24 | $-88.5M | $415.0M | ||
| Q2 24 | $-130.2M | $340.0M | ||
| Q1 24 | $-107.8M | $333.0M |
总资产MTCHSBGI
| Q4 25 | $4.5B | $5.9B | ||
| Q3 25 | $4.5B | $5.6B | ||
| Q2 25 | $3.9B | $5.7B | ||
| Q1 25 | $3.9B | $5.8B | ||
| Q4 24 | $4.5B | $5.9B | ||
| Q3 24 | $4.4B | $5.8B | ||
| Q2 24 | $4.4B | $5.7B | ||
| Q1 24 | $4.4B | $6.0B |
负债/权益比MTCHSBGI
| Q4 25 | — | 9.84× | ||
| Q3 25 | — | 11.75× | ||
| Q2 25 | — | 11.30× | ||
| Q1 25 | — | 9.56× | ||
| Q4 24 | — | 7.02× | ||
| Q3 24 | — | 9.86× | ||
| Q2 24 | — | 12.08× | ||
| Q1 24 | — | 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 | $322.8M | $98.0M |
| 自由现金流经营现金流 - 资本支出 | $308.1M | $79.0M |
| 自由现金流率自由现金流/营收 | 35.1% | 9.4% |
| 资本支出强度资本支出/营收 | 1.7% | 2.3% |
| 现金转化率经营现金流/净利润 | 1.54× | 0.90× |
| 过去12个月自由现金流最近4个季度 | $1.0B | $115.0M |
8季度趋势，按日历期对齐
经营现金流MTCHSBGI
| Q4 25 | $322.8M | $98.0M | ||
| Q3 25 | $320.6M | $-36.0M | ||
| Q2 25 | $243.8M | $122.0M | ||
| Q1 25 | $193.1M | $5.0M | ||
| Q4 24 | $254.7M | $198.0M | ||
| Q3 24 | $264.9M | $210.0M | ||
| Q2 24 | $129.0M | $-306.0M | ||
| Q1 24 | $284.1M | $-4.0M |
自由现金流MTCHSBGI
| Q4 25 | $308.1M | $79.0M | ||
| Q3 25 | $306.8M | $-58.0M | ||
| Q2 25 | $231.0M | $105.0M | ||
| Q1 25 | $177.7M | $-11.0M | ||
| Q4 24 | $247.1M | $175.0M | ||
| Q3 24 | $251.8M | $193.0M | ||
| Q2 24 | $116.3M | $-329.0M | ||
| Q1 24 | $266.9M | $-25.0M |
自由现金流率MTCHSBGI
| Q4 25 | 35.1% | 9.4% | ||
| Q3 25 | 33.6% | -7.5% | ||
| Q2 25 | 26.7% | 13.4% | ||
| Q1 25 | 21.4% | -1.4% | ||
| Q4 24 | 28.7% | 17.4% | ||
| Q3 24 | 28.1% | 21.0% | ||
| Q2 24 | 13.5% | -39.7% | ||
| Q1 24 | 31.0% | -3.1% |
资本支出强度MTCHSBGI
| Q4 25 | 1.7% | 2.3% | ||
| Q3 25 | 1.5% | 2.8% | ||
| Q2 25 | 1.5% | 2.2% | ||
| Q1 25 | 1.9% | 2.1% | ||
| Q4 24 | 0.9% | 2.3% | ||
| Q3 24 | 1.5% | 1.9% | ||
| Q2 24 | 1.5% | 2.8% | ||
| Q1 24 | 2.0% | 2.6% |
现金转化率MTCHSBGI
| Q4 25 | 1.54× | 0.90× | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 1.94× | — | ||
| Q1 25 | 1.64× | — | ||
| Q4 24 | 1.61× | 1.13× | ||
| Q3 24 | 1.94× | 2.23× | ||
| Q2 24 | 0.97× | -18.00× | ||
| Q1 24 | 2.31× | -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
MTCH
| Tinder Segment | $479.3M | 55% |
| Hinge Segment | $186.5M | 21% |
| Evergreen And Emerging Segment | $148.1M | 17% |
| MG Asia Segment | $65.8M | 7% |
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% |
