vs
Sinclair, Inc.（SBGI）与SCANSOURCE, INC.（SCSC）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SCANSOURCE, INC.的1.1倍（$807.0M vs $766.5M），Sinclair, Inc.净利率更高（2.5% vs 2.2%，领先0.3%），Sinclair, Inc.同比增速更快（4.0% vs 2.5%），过去两年SCANSOURCE, INC.的营收复合增速更高（0.9% vs -1.3%）
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。
ScanSource是全球领先的专业技术分销商，主营销售点系统、条码扫描设备、网络安全产品、云服务及通信解决方案，面向北美、拉美、欧洲的增值经销商、服务提供商及企业客户，覆盖零售、医疗、工业、公共部门等领域。
SBGI vs SCSC — 直观对比
营收规模更大
SBGI
是对方的1.1倍
$766.5M
营收增速更快
SBGI
高出1.5%
2.5%
净利率更高
SBGI
高出0.3%
2.2%
两年增速更快
SCSC
近两年复合增速
-1.3%
损益表 — Q1 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $807.0M | $766.5M |
| 净利润 | $20.0M | $16.5M |
| 毛利率 | — | 13.4% |
| 营业利润率 | 0.0% | 2.3% |
| 净利率 | 2.5% | 2.2% |
| 营收同比 | 4.0% | 2.5% |
| 净利润同比 | — | -3.3% |
| 每股收益（稀释后） | $0.28 | $0.75 |
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SBGISCSC
| Q1 26 | $807.0M | — | ||
| Q4 25 | $836.0M | $766.5M | ||
| Q3 25 | $773.0M | $739.6M | ||
| Q2 25 | $784.0M | $812.9M | ||
| Q1 25 | $776.0M | $704.8M | ||
| Q4 24 | $1.0B | $747.5M | ||
| Q3 24 | $917.0M | $775.6M | ||
| Q2 24 | $829.0M | $746.1M |
净利润SBGISCSC
| Q1 26 | $20.0M | — | ||
| Q4 25 | $109.0M | $16.5M | ||
| Q3 25 | $-1.0M | $19.9M | ||
| Q2 25 | $-64.0M | $20.1M | ||
| Q1 25 | $-156.0M | $17.4M | ||
| Q4 24 | $176.0M | $17.1M | ||
| Q3 24 | $94.0M | $17.0M | ||
| Q2 24 | $17.0M | $16.1M |
毛利率SBGISCSC
| Q1 26 | — | — | ||
| Q4 25 | — | 13.4% | ||
| Q3 25 | — | 14.5% | ||
| Q2 25 | — | 12.9% | ||
| Q1 25 | — | 14.2% | ||
| Q4 24 | — | 13.6% | ||
| Q3 24 | — | 13.1% | ||
| Q2 24 | — | 13.0% |
营业利润率SBGISCSC
| Q1 26 | 0.0% | — | ||
| Q4 25 | 9.6% | 2.3% | ||
| Q3 25 | 7.5% | 3.5% | ||
| Q2 25 | 2.7% | 3.3% | ||
| Q1 25 | 1.8% | 3.2% | ||
| Q4 24 | 26.5% | 2.5% | ||
| Q3 24 | 19.5% | 2.3% | ||
| Q2 24 | 7.7% | 2.9% |
净利率SBGISCSC
| Q1 26 | 2.5% | — | ||
| Q4 25 | 13.0% | 2.2% | ||
| Q3 25 | -0.1% | 2.7% | ||
| Q2 25 | -8.2% | 2.5% | ||
| Q1 25 | -20.1% | 2.5% | ||
| Q4 24 | 17.5% | 2.3% | ||
| Q3 24 | 10.3% | 2.2% | ||
| Q2 24 | 2.1% | 2.2% |
每股收益（稀释后）SBGISCSC
| Q1 26 | $0.28 | — | ||
| Q4 25 | $1.62 | $0.75 | ||
| Q3 25 | $-0.02 | $0.89 | ||
| Q2 25 | $-0.91 | $0.87 | ||
| Q1 25 | $-2.30 | $0.74 | ||
| Q4 24 | $2.64 | $0.70 | ||
| Q3 24 | $1.43 | $0.69 | ||
| Q2 24 | $0.27 | $0.66 |
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 | — | $83.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $910.9M |
| 总资产 | — | $1.7B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资SBGISCSC
| Q1 26 | — | — | ||
| Q4 25 | $866.0M | $83.5M | ||
| Q3 25 | $526.0M | $124.9M | ||
| Q2 25 | $616.0M | $126.2M | ||
| Q1 25 | $631.0M | $146.3M | ||
| Q4 24 | $697.0M | $110.5M | ||
| Q3 24 | $536.0M | $145.0M | ||
| Q2 24 | $378.0M | $185.5M |
总债务SBGISCSC
| Q1 26 | — | — | ||
| Q4 25 | $4.4B | — | ||
| Q3 25 | $4.1B | — | ||
| Q2 25 | $4.1B | — | ||
| Q1 25 | $4.2B | — | ||
| Q4 24 | $4.1B | — | ||
| Q3 24 | $4.1B | — | ||
| Q2 24 | $4.1B | — |
股东权益SBGISCSC
| Q1 26 | — | — | ||
| Q4 25 | $443.0M | $910.9M | ||
| Q3 25 | $347.0M | $914.0M | ||
| Q2 25 | $361.0M | $906.4M | ||
| Q1 25 | $436.0M | $901.7M | ||
| Q4 24 | $583.0M | $900.7M | ||
| Q3 24 | $415.0M | $920.9M | ||
| Q2 24 | $340.0M | $924.3M |
总资产SBGISCSC
| Q1 26 | — | — | ||
| Q4 25 | $5.9B | $1.7B | ||
| Q3 25 | $5.6B | $1.7B | ||
| Q2 25 | $5.7B | $1.8B | ||
| Q1 25 | $5.8B | $1.7B | ||
| Q4 24 | $5.9B | $1.7B | ||
| Q3 24 | $5.8B | $1.8B | ||
| Q2 24 | $5.7B | $1.8B |
负债/权益比SBGISCSC
| Q1 26 | — | — | ||
| 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× | — |
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 | — | $30.8M |
| 自由现金流经营现金流 - 资本支出 | — | $28.9M |
| 自由现金流率自由现金流/营收 | — | 3.8% |
| 资本支出强度资本支出/营收 | 1.7% | 0.3% |
| 现金转化率经营现金流/净利润 | — | 1.87× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流SBGISCSC
| Q1 26 | — | — | ||
| Q4 25 | $98.0M | $30.8M | ||
| Q3 25 | $-36.0M | $23.2M | ||
| Q2 25 | $122.0M | — | ||
| Q1 25 | $5.0M | $66.1M | ||
| Q4 24 | $198.0M | $-6.2M | ||
| Q3 24 | $210.0M | $44.8M | ||
| Q2 24 | $-306.0M | — |
自由现金流SBGISCSC
| Q1 26 | — | — | ||
| Q4 25 | $79.0M | $28.9M | ||
| Q3 25 | $-58.0M | $20.8M | ||
| Q2 25 | $105.0M | — | ||
| Q1 25 | $-11.0M | $64.6M | ||
| Q4 24 | $175.0M | $-8.2M | ||
| Q3 24 | $193.0M | $42.5M | ||
| Q2 24 | $-329.0M | — |
自由现金流率SBGISCSC
| Q1 26 | — | — | ||
| Q4 25 | 9.4% | 3.8% | ||
| Q3 25 | -7.5% | 2.8% | ||
| Q2 25 | 13.4% | — | ||
| Q1 25 | -1.4% | 9.2% | ||
| Q4 24 | 17.4% | -1.1% | ||
| Q3 24 | 21.0% | 5.5% | ||
| Q2 24 | -39.7% | — |
资本支出强度SBGISCSC
| Q1 26 | 1.7% | — | ||
| Q4 25 | 2.3% | 0.3% | ||
| Q3 25 | 2.8% | 0.3% | ||
| Q2 25 | 2.2% | 0.3% | ||
| Q1 25 | 2.1% | 0.2% | ||
| Q4 24 | 2.3% | 0.3% | ||
| Q3 24 | 1.9% | 0.3% | ||
| Q2 24 | 2.8% | 0.2% |
现金转化率SBGISCSC
| Q1 26 | — | — | ||
| Q4 25 | 0.90× | 1.87× | ||
| Q3 25 | — | 1.17× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 3.79× | ||
| Q4 24 | 1.13× | -0.36× | ||
| Q3 24 | 2.23× | 2.64× | ||
| Q2 24 | -18.00× | — |
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
SBGI
| Media revenue | $701.0M | 87% |
| Other | $82.0M | 10% |
| Political advertising revenue | $18.0M | 2% |
| Non-media revenue | $6.0M | 1% |
SCSC
| Products And Services | $723.4M | 94% |
| Intelisys Advisory | $25.0M | 3% |
| Recurring Revenue | $18.2M | 2% |
