vs
Sinclair, Inc.（SBGI）与TXNM ENERGY INC（TXNM）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TXNM ENERGY INC的1.7倍（$836.0M vs $506.4M），Sinclair, Inc.净利率更高（13.0% vs -1.0%，领先14.1%），TXNM ENERGY INC同比增速更快（5.3% vs -16.7%），Sinclair, Inc.自由现金流更多（$79.0M vs $-152.1M），过去两年TXNM ENERGY INC的营收复合增速更高（8.4% vs 2.4%）
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。
TXNM能源是总部位于美国新墨西哥州阿尔伯克基的能源控股企业，创立于1917年，前身为阿尔伯克基燃气电力公司，旗下拥有PNM、得克萨斯-新墨西哥电力公司（TNMP）两大运营主体，核心业务覆盖能源供应及相关公用事业服务领域。
SBGI vs TXNM — 直观对比
营收规模更大
SBGI
是对方的1.7倍
$506.4M
营收增速更快
TXNM
高出22.0%
-16.7%
净利率更高
SBGI
高出14.1%
-1.0%
自由现金流更多
SBGI
多$231.1M
$-152.1M
两年增速更快
TXNM
近两年复合增速
2.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $836.0M | $506.4M |
| 净利润 | $109.0M | $-5.3M |
| 毛利率 | — | — |
| 营业利润率 | 9.6% | 18.5% |
| 净利率 | 13.0% | -1.0% |
| 营收同比 | -16.7% | 5.3% |
| 净利润同比 | -38.1% | -126.4% |
| 每股收益（稀释后） | $1.62 | $-0.06 |
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SBGITXNM
| Q4 25 | $836.0M | $506.4M | ||
| Q3 25 | $773.0M | $656.3M | ||
| Q2 25 | $784.0M | $493.8M | ||
| Q1 25 | $776.0M | $480.4M | ||
| Q4 24 | $1.0B | $481.0M | ||
| Q3 24 | $917.0M | $574.3M | ||
| Q2 24 | $829.0M | $473.2M | ||
| Q1 24 | $798.0M | $431.1M |
净利润SBGITXNM
| Q4 25 | $109.0M | $-5.3M | ||
| Q3 25 | $-1.0M | $136.3M | ||
| Q2 25 | $-64.0M | $26.0M | ||
| Q1 25 | $-156.0M | $12.8M | ||
| Q4 24 | $176.0M | $20.0M | ||
| Q3 24 | $94.0M | $136.4M | ||
| Q2 24 | $17.0M | $52.0M | ||
| Q1 24 | $23.0M | $50.4M |
毛利率SBGITXNM
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 51.8% | ||
| Q2 24 | — | 41.9% | ||
| Q1 24 | — | 40.8% |
营业利润率SBGITXNM
| Q4 25 | 9.6% | 18.5% | ||
| Q3 25 | 7.5% | 30.9% | ||
| Q2 25 | 2.7% | 14.7% | ||
| Q1 25 | 1.8% | 15.0% | ||
| Q4 24 | 26.5% | 15.8% | ||
| Q3 24 | 19.5% | 33.3% | ||
| Q2 24 | 7.7% | 22.3% | ||
| Q1 24 | 5.3% | 18.7% |
净利率SBGITXNM
| Q4 25 | 13.0% | -1.0% | ||
| Q3 25 | -0.1% | 20.8% | ||
| Q2 25 | -8.2% | 5.3% | ||
| Q1 25 | -20.1% | 2.7% | ||
| Q4 24 | 17.5% | 4.2% | ||
| Q3 24 | 10.3% | 23.7% | ||
| Q2 24 | 2.1% | 11.0% | ||
| Q1 24 | 2.9% | 11.7% |
每股收益（稀释后）SBGITXNM
| Q4 25 | $1.62 | $-0.06 | ||
| Q3 25 | $-0.02 | $1.22 | ||
| Q2 25 | $-0.91 | $0.22 | ||
| Q1 25 | $-2.30 | $0.10 | ||
| Q4 24 | $2.64 | $0.17 | ||
| Q3 24 | $1.43 | $1.45 | ||
| Q2 24 | $0.27 | $0.53 | ||
| Q1 24 | $0.35 | $0.52 |
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 | $18.3M |
| 总债务越低越好 | $4.4B | — |
| 股东权益账面价值 | $443.0M | $3.4B |
| 总资产 | $5.9B | $12.1B |
| 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SBGITXNM
| Q4 25 | $866.0M | $18.3M | ||
| Q3 25 | $526.0M | $32.1M | ||
| Q2 25 | $616.0M | $22.2M | ||
| Q1 25 | $631.0M | $6.1M | ||
| Q4 24 | $697.0M | $4.5M | ||
| Q3 24 | $536.0M | $7.2M | ||
| Q2 24 | $378.0M | $3.2M | ||
| Q1 24 | $655.0M | $3.0M |
总债务SBGITXNM
| 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 | — | ||
| Q1 24 | $4.1B | — |
股东权益SBGITXNM
| Q4 25 | $443.0M | $3.4B | ||
| Q3 25 | $347.0M | $3.4B | ||
| Q2 25 | $361.0M | $3.2B | ||
| Q1 25 | $436.0M | $2.5B | ||
| Q4 24 | $583.0M | $2.5B | ||
| Q3 24 | $415.0M | $2.5B | ||
| Q2 24 | $340.0M | $2.4B | ||
| Q1 24 | $333.0M | $2.4B |
总资产SBGITXNM
| Q4 25 | $5.9B | $12.1B | ||
| Q3 25 | $5.6B | $12.0B | ||
| Q2 25 | $5.7B | $11.7B | ||
| Q1 25 | $5.8B | $11.4B | ||
| Q4 24 | $5.9B | $11.2B | ||
| Q3 24 | $5.8B | $10.8B | ||
| Q2 24 | $5.7B | $10.6B | ||
| Q1 24 | $6.0B | $10.3B |
负债/权益比SBGITXNM
| 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 | $98.0M | $157.7M |
| 自由现金流经营现金流 - 资本支出 | $79.0M | $-152.1M |
| 自由现金流率自由现金流/营收 | 9.4% | -30.0% |
| 资本支出强度资本支出/营收 | 2.3% | 61.2% |
| 现金转化率经营现金流/净利润 | 0.90× | — |
| 过去12个月自由现金流最近4个季度 | $115.0M | $-611.4M |
8季度趋势，按日历期对齐
经营现金流SBGITXNM
| Q4 25 | $98.0M | $157.7M | ||
| Q3 25 | $-36.0M | $282.0M | ||
| Q2 25 | $122.0M | $3.5M | ||
| Q1 25 | $5.0M | $141.3M | ||
| Q4 24 | $198.0M | $158.6M | ||
| Q3 24 | $210.0M | $180.0M | ||
| Q2 24 | $-306.0M | $76.7M | ||
| Q1 24 | $-4.0M | $92.8M |
自由现金流SBGITXNM
| Q4 25 | $79.0M | $-152.1M | ||
| Q3 25 | $-58.0M | $4.7M | ||
| Q2 25 | $105.0M | $-262.6M | ||
| Q1 25 | $-11.0M | $-201.4M | ||
| Q4 24 | $175.0M | $-182.9M | ||
| Q3 24 | $193.0M | $-143.7M | ||
| Q2 24 | $-329.0M | $-216.0M | ||
| Q1 24 | $-25.0M | $-196.3M |
自由现金流率SBGITXNM
| Q4 25 | 9.4% | -30.0% | ||
| Q3 25 | -7.5% | 0.7% | ||
| Q2 25 | 13.4% | -53.2% | ||
| Q1 25 | -1.4% | -41.9% | ||
| Q4 24 | 17.4% | -38.0% | ||
| Q3 24 | 21.0% | -25.0% | ||
| Q2 24 | -39.7% | -45.6% | ||
| Q1 24 | -3.1% | -45.5% |
资本支出强度SBGITXNM
| Q4 25 | 2.3% | 61.2% | ||
| Q3 25 | 2.8% | 42.3% | ||
| Q2 25 | 2.2% | 53.9% | ||
| Q1 25 | 2.1% | 71.3% | ||
| Q4 24 | 2.3% | 71.0% | ||
| Q3 24 | 1.9% | 56.4% | ||
| Q2 24 | 2.8% | 61.9% | ||
| Q1 24 | 2.6% | 67.1% |
现金转化率SBGITXNM
| Q4 25 | 0.90× | — | ||
| Q3 25 | — | 2.07× | ||
| Q2 25 | — | 0.14× | ||
| Q1 25 | — | 11.04× | ||
| Q4 24 | 1.13× | 7.93× | ||
| Q3 24 | 2.23× | 1.32× | ||
| Q2 24 | -18.00× | 1.48× | ||
| Q1 24 | -0.17× | 1.84× |
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
| 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% |
TXNM
| Electricity | $348.8M | 69% |
| Other | $89.3M | 18% |
| Electric Transmission Service | $40.4M | 8% |
| Wholesale Energy Sales | $26.2M | 5% |
| Miscellaneous Revenue From Contracts With Customers | $1.7M | 0% |
