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必能宝（PBI）与Sinclair, Inc.（SBGI）财务数据对比。点击上方公司名可切换其他公司
Sinclair, Inc.的季度营收约是必能宝的1.8倍（$836.0M vs $477.6M），Sinclair, Inc.净利率更高（13.0% vs 5.7%，领先7.3%），必能宝同比增速更快（-7.5% vs -16.7%），必能宝自由现金流更多（$201.4M vs $79.0M），过去两年Sinclair, Inc.的营收复合增速更高（2.4% vs -4.3%）
必能宝（Pitney Bowes）是全球知名科技与物流服务商，提供电商配送、邮寄处理、订单履约及客户信息管理解决方案，服务零售、金融、医疗、政府等领域的各类大中小企业客户，助力企业优化物流配送与客户运营效率。
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。
PBI vs SBGI — 直观对比
营收规模更大
SBGI
是对方的1.8倍
$477.6M
营收增速更快
PBI
高出9.3%
-16.7%
净利率更高
SBGI
高出7.3%
5.7%
自由现金流更多
PBI
多$122.4M
$79.0M
两年增速更快
SBGI
近两年复合增速
-4.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $477.6M | $836.0M |
| 净利润 | $27.3M | $109.0M |
| 毛利率 | — | — |
| 营业利润率 | 8.0% | 9.6% |
| 净利率 | 5.7% | 13.0% |
| 营收同比 | -7.5% | -16.7% |
| 净利润同比 | 173.1% | -38.1% |
| 每股收益（稀释后） | $0.18 | $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PBISBGI
| Q4 25 | $477.6M | $836.0M | ||
| Q3 25 | $459.7M | $773.0M | ||
| Q2 25 | $461.9M | $784.0M | ||
| Q1 25 | $493.4M | $776.0M | ||
| Q4 24 | $516.1M | $1.0B | ||
| Q3 24 | $499.5M | $917.0M | ||
| Q2 24 | $489.7M | $829.0M | ||
| Q1 24 | $521.3M | $798.0M |
净利润PBISBGI
| Q4 25 | $27.3M | $109.0M | ||
| Q3 25 | $52.0M | $-1.0M | ||
| Q2 25 | $30.0M | $-64.0M | ||
| Q1 25 | $35.4M | $-156.0M | ||
| Q4 24 | $-37.4M | $176.0M | ||
| Q3 24 | $-138.5M | $94.0M | ||
| Q2 24 | $-24.9M | $17.0M | ||
| Q1 24 | $-2.9M | $23.0M |
毛利率PBISBGI
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 53.8% | — | ||
| Q3 24 | 52.4% | — | ||
| Q2 24 | 51.1% | — | ||
| Q1 24 | 52.3% | — |
营业利润率PBISBGI
| Q4 25 | 8.0% | 9.6% | ||
| Q3 25 | 14.8% | 7.5% | ||
| Q2 25 | 8.5% | 2.7% | ||
| Q1 25 | 9.5% | 1.8% | ||
| Q4 24 | -9.3% | 26.5% | ||
| Q3 24 | -8.8% | 19.5% | ||
| Q2 24 | -1.6% | 7.7% | ||
| Q1 24 | 9.1% | 5.3% |
净利率PBISBGI
| Q4 25 | 5.7% | 13.0% | ||
| Q3 25 | 11.3% | -0.1% | ||
| Q2 25 | 6.5% | -8.2% | ||
| Q1 25 | 7.2% | -20.1% | ||
| Q4 24 | -7.2% | 17.5% | ||
| Q3 24 | -27.7% | 10.3% | ||
| Q2 24 | -5.1% | 2.1% | ||
| Q1 24 | -0.6% | 2.9% |
每股收益（稀释后）PBISBGI
| Q4 25 | $0.18 | $1.62 | ||
| Q3 25 | $0.30 | $-0.02 | ||
| Q2 25 | $0.17 | $-0.91 | ||
| Q1 25 | $0.19 | $-2.30 | ||
| Q4 24 | $-0.21 | $2.64 | ||
| Q3 24 | $-0.75 | $1.43 | ||
| Q2 24 | $-0.14 | $0.27 | ||
| Q1 24 | $-0.02 | $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 | $297.1M | $866.0M |
| 总债务越低越好 | $2.0B | $4.4B |
| 股东权益账面价值 | $-802.4M | $443.0M |
| 总资产 | $3.2B | $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PBISBGI
| Q4 25 | $297.1M | $866.0M | ||
| Q3 25 | $336.0M | $526.0M | ||
| Q2 25 | $300.8M | $616.0M | ||
| Q1 25 | $340.0M | $631.0M | ||
| Q4 24 | $486.1M | $697.0M | ||
| Q3 24 | $575.5M | $536.0M | ||
| Q2 24 | $612.0M | $378.0M | ||
| Q1 24 | $538.0M | $655.0M |
总债务PBISBGI
| Q4 25 | $2.0B | $4.4B | ||
| Q3 25 | $2.1B | $4.1B | ||
| Q2 25 | $1.9B | $4.1B | ||
| Q1 25 | $1.9B | $4.2B | ||
| Q4 24 | $1.9B | $4.1B | ||
| Q3 24 | $2.1B | $4.1B | ||
| Q2 24 | $2.1B | $4.1B | ||
| Q1 24 | $2.1B | $4.1B |
股东权益PBISBGI
| Q4 25 | $-802.4M | $443.0M | ||
| Q3 25 | $-661.5M | $347.0M | ||
| Q2 25 | $-536.8M | $361.0M | ||
| Q1 25 | $-535.9M | $436.0M | ||
| Q4 24 | $-578.4M | $583.0M | ||
| Q3 24 | $-518.9M | $415.0M | ||
| Q2 24 | $-427.9M | $340.0M | ||
| Q1 24 | $-392.4M | $333.0M |
总资产PBISBGI
| Q4 25 | $3.2B | $5.9B | ||
| Q3 25 | $3.3B | $5.6B | ||
| Q2 25 | $3.2B | $5.7B | ||
| Q1 25 | $3.3B | $5.8B | ||
| Q4 24 | $3.4B | $5.9B | ||
| Q3 24 | $3.6B | $5.8B | ||
| Q2 24 | $4.1B | $5.7B | ||
| Q1 24 | $4.1B | $6.0B |
负债/权益比PBISBGI
| 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 | $221.7M | $98.0M |
| 自由现金流经营现金流 - 资本支出 | $201.4M | $79.0M |
| 自由现金流率自由现金流/营收 | 42.2% | 9.4% |
| 资本支出强度资本支出/营收 | 4.2% | 2.3% |
| 现金转化率经营现金流/净利润 | 8.11× | 0.90× |
| 过去12个月自由现金流最近4个季度 | $317.0M | $115.0M |
8季度趋势，按日历期对齐
经营现金流PBISBGI
| Q4 25 | $221.7M | $98.0M | ||
| Q3 25 | $66.8M | $-36.0M | ||
| Q2 25 | $111.4M | $122.0M | ||
| Q1 25 | $-16.7M | $5.0M | ||
| Q4 24 | $134.5M | $198.0M | ||
| Q3 24 | $14.7M | $210.0M | ||
| Q2 24 | $92.6M | $-306.0M | ||
| Q1 24 | $-12.6M | $-4.0M |
自由现金流PBISBGI
| Q4 25 | $201.4M | $79.0M | ||
| Q3 25 | $51.1M | $-58.0M | ||
| Q2 25 | $98.0M | $105.0M | ||
| Q1 25 | $-33.6M | $-11.0M | ||
| Q4 24 | $112.3M | $175.0M | ||
| Q3 24 | $-4.7M | $193.0M | ||
| Q2 24 | $76.1M | $-329.0M | ||
| Q1 24 | $-26.9M | $-25.0M |
自由现金流率PBISBGI
| Q4 25 | 42.2% | 9.4% | ||
| Q3 25 | 11.1% | -7.5% | ||
| Q2 25 | 21.2% | 13.4% | ||
| Q1 25 | -6.8% | -1.4% | ||
| Q4 24 | 21.8% | 17.4% | ||
| Q3 24 | -0.9% | 21.0% | ||
| Q2 24 | 15.5% | -39.7% | ||
| Q1 24 | -5.2% | -3.1% |
资本支出强度PBISBGI
| Q4 25 | 4.2% | 2.3% | ||
| Q3 25 | 3.4% | 2.8% | ||
| Q2 25 | 2.9% | 2.2% | ||
| Q1 25 | 3.4% | 2.1% | ||
| Q4 24 | 4.3% | 2.3% | ||
| Q3 24 | 3.9% | 1.9% | ||
| Q2 24 | 3.4% | 2.8% | ||
| Q1 24 | 2.7% | 2.6% |
现金转化率PBISBGI
| Q4 25 | 8.11× | 0.90× | ||
| Q3 25 | 1.29× | — | ||
| Q2 25 | 3.72× | — | ||
| Q1 25 | -0.47× | — | ||
| Q4 24 | — | 1.13× | ||
| Q3 24 | — | 2.23× | ||
| Q2 24 | — | -18.00× | ||
| Q1 24 | — | -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
PBI
| Sales And Services | $218.4M | 46% |
| Presort Services | $159.7M | 33% |
| Financing And Other | $79.0M | 17% |
| Other | $20.5M | 4% |
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% |
