vs
Sinclair, Inc.（SBGI）与V2X, Inc.（VVX）财务数据对比。点击上方公司名可切换其他公司
V2X, Inc.的季度营收约是Sinclair, Inc.的1.5倍（$1.2B vs $836.0M），Sinclair, Inc.净利率更高（13.0% vs 1.9%，领先11.2%），V2X, Inc.同比增速更快（5.3% vs -16.7%），V2X, Inc.自由现金流更多（$207.2M vs $79.0M），过去两年V2X, Inc.的营收复合增速更高（9.8% 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。
V2X公司是总部位于美国的技术工程服务供应商，主要服务美国国防部等联邦政府客户，提供任务支持、关键基础设施运维、国家安全相关解决方案，业务覆盖国防、公共安全、运营韧性等核心领域。
SBGI vs VVX — 直观对比
营收规模更大
VVX
是对方的1.5倍
$836.0M
营收增速更快
VVX
高出22.0%
-16.7%
净利率更高
SBGI
高出11.2%
1.9%
自由现金流更多
VVX
多$128.2M
$79.0M
两年增速更快
VVX
近两年复合增速
2.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $836.0M | $1.2B |
| 净利润 | $109.0M | $22.8M |
| 毛利率 | — | 8.6% |
| 营业利润率 | 9.6% | 4.2% |
| 净利率 | 13.0% | 1.9% |
| 营收同比 | -16.7% | 5.3% |
| 净利润同比 | -38.1% | -9.0% |
| 每股收益（稀释后） | $1.62 | $0.73 |
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SBGIVVX
| Q4 25 | $836.0M | $1.2B | ||
| Q3 25 | $773.0M | $1.2B | ||
| Q2 25 | $784.0M | $1.1B | ||
| Q1 25 | $776.0M | $1.0B | ||
| Q4 24 | $1.0B | $1.2B | ||
| Q3 24 | $917.0M | $1.1B | ||
| Q2 24 | $829.0M | $1.1B | ||
| Q1 24 | $798.0M | $1.0B |
净利润SBGIVVX
| Q4 25 | $109.0M | $22.8M | ||
| Q3 25 | $-1.0M | $24.6M | ||
| Q2 25 | $-64.0M | $22.4M | ||
| Q1 25 | $-156.0M | $8.1M | ||
| Q4 24 | $176.0M | $25.0M | ||
| Q3 24 | $94.0M | $15.1M | ||
| Q2 24 | $17.0M | $-6.5M | ||
| Q1 24 | $23.0M | $1.1M |
毛利率SBGIVVX
| Q4 25 | — | 8.6% | ||
| Q3 25 | — | 8.1% | ||
| Q2 25 | — | 8.9% | ||
| Q1 25 | — | 7.7% | ||
| Q4 24 | — | 9.3% | ||
| Q3 24 | — | 8.5% | ||
| Q2 24 | — | 6.9% | ||
| Q1 24 | — | 7.0% |
营业利润率SBGIVVX
| Q4 25 | 9.6% | 4.2% | ||
| Q3 25 | 7.5% | 4.8% | ||
| Q2 25 | 2.7% | 4.9% | ||
| Q1 25 | 1.8% | 3.4% | ||
| Q4 24 | 26.5% | 4.5% | ||
| Q3 24 | 19.5% | 4.6% | ||
| Q2 24 | 7.7% | 2.6% | ||
| Q1 24 | 5.3% | 3.0% |
净利率SBGIVVX
| Q4 25 | 13.0% | 1.9% | ||
| Q3 25 | -0.1% | 2.1% | ||
| Q2 25 | -8.2% | 2.1% | ||
| Q1 25 | -20.1% | 0.8% | ||
| Q4 24 | 17.5% | 2.2% | ||
| Q3 24 | 10.3% | 1.4% | ||
| Q2 24 | 2.1% | -0.6% | ||
| Q1 24 | 2.9% | 0.1% |
每股收益（稀释后）SBGIVVX
| Q4 25 | $1.62 | $0.73 | ||
| Q3 25 | $-0.02 | $0.77 | ||
| Q2 25 | $-0.91 | $0.70 | ||
| Q1 25 | $-2.30 | $0.25 | ||
| Q4 24 | $2.64 | $0.78 | ||
| Q3 24 | $1.43 | $0.47 | ||
| Q2 24 | $0.27 | $-0.21 | ||
| Q1 24 | $0.35 | $0.04 |
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 | $4.4B | — |
| 股东权益账面价值 | $443.0M | $1.1B |
| 总资产 | $5.9B | $3.3B |
| 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SBGIVVX
| Q4 25 | $866.0M | — | ||
| Q3 25 | $526.0M | — | ||
| Q2 25 | $616.0M | — | ||
| Q1 25 | $631.0M | — | ||
| Q4 24 | $697.0M | — | ||
| Q3 24 | $536.0M | — | ||
| Q2 24 | $378.0M | — | ||
| Q1 24 | $655.0M | — |
总债务SBGIVVX
| 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SBGIVVX
| Q4 25 | $443.0M | $1.1B | ||
| Q3 25 | $347.0M | $1.1B | ||
| Q2 25 | $361.0M | $1.1B | ||
| Q1 25 | $436.0M | $1.0B | ||
| Q4 24 | $583.0M | $1.0B | ||
| Q3 24 | $415.0M | $1.0B | ||
| Q2 24 | $340.0M | $992.0M | ||
| Q1 24 | $333.0M | $993.7M |
总资产SBGIVVX
| Q4 25 | $5.9B | $3.3B | ||
| Q3 25 | $5.6B | $3.2B | ||
| Q2 25 | $5.7B | $3.1B | ||
| Q1 25 | $5.8B | $3.1B | ||
| Q4 24 | $5.9B | $3.2B | ||
| Q3 24 | $5.8B | $3.1B | ||
| Q2 24 | $5.7B | $3.2B | ||
| Q1 24 | $6.0B | $3.1B |
负债/权益比SBGIVVX
| 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 | $209.5M |
| 自由现金流经营现金流 - 资本支出 | $79.0M | $207.2M |
| 自由现金流率自由现金流/营收 | 9.4% | 17.0% |
| 资本支出强度资本支出/营收 | 2.3% | 0.2% |
| 现金转化率经营现金流/净利润 | 0.90× | 9.20× |
| 过去12个月自由现金流最近4个季度 | $115.0M | $170.1M |
8季度趋势，按日历期对齐
经营现金流SBGIVVX
| Q4 25 | $98.0M | $209.5M | ||
| Q3 25 | $-36.0M | $39.4M | ||
| Q2 25 | $122.0M | $28.5M | ||
| Q1 25 | $5.0M | $-95.5M | ||
| Q4 24 | $198.0M | $223.1M | ||
| Q3 24 | $210.0M | $62.7M | ||
| Q2 24 | $-306.0M | $25.7M | ||
| Q1 24 | $-4.0M | $-57.2M |
自由现金流SBGIVVX
| Q4 25 | $79.0M | $207.2M | ||
| Q3 25 | $-58.0M | $35.0M | ||
| Q2 25 | $105.0M | $26.1M | ||
| Q1 25 | $-11.0M | $-98.2M | ||
| Q4 24 | $175.0M | $222.0M | ||
| Q3 24 | $193.0M | $60.5M | ||
| Q2 24 | $-329.0M | $24.9M | ||
| Q1 24 | $-25.0M | $-65.0M |
自由现金流率SBGIVVX
| Q4 25 | 9.4% | 17.0% | ||
| Q3 25 | -7.5% | 3.0% | ||
| Q2 25 | 13.4% | 2.4% | ||
| Q1 25 | -1.4% | -9.7% | ||
| Q4 24 | 17.4% | 19.2% | ||
| Q3 24 | 21.0% | 5.6% | ||
| Q2 24 | -39.7% | 2.3% | ||
| Q1 24 | -3.1% | -6.4% |
资本支出强度SBGIVVX
| Q4 25 | 2.3% | 0.2% | ||
| Q3 25 | 2.8% | 0.4% | ||
| Q2 25 | 2.2% | 0.2% | ||
| Q1 25 | 2.1% | 0.3% | ||
| Q4 24 | 2.3% | 0.1% | ||
| Q3 24 | 1.9% | 0.2% | ||
| Q2 24 | 2.8% | 0.1% | ||
| Q1 24 | 2.6% | 0.8% |
现金转化率SBGIVVX
| Q4 25 | 0.90× | 9.20× | ||
| Q3 25 | — | 1.60× | ||
| Q2 25 | — | 1.27× | ||
| Q1 25 | — | -11.78× | ||
| Q4 24 | 1.13× | 8.91× | ||
| Q3 24 | 2.23× | 4.16× | ||
| Q2 24 | -18.00× | — | ||
| Q1 24 | -0.17× | -50.02× |
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% |
VVX
| Army | $480.4M | 39% |
| Navy | $388.9M | 32% |
| Air Force | $196.1M | 16% |
| Other Customers | $153.3M | 13% |
