Sinclair Broadcast Group, Inc (SBGI) Balance Sheet

NASDAQ: SBGIAssets, liabilities, debt and equity over 10 years.

SBGI balance sheet, 2025

December 31, 2025 · U.S. dollars

$5.95B assets = $5.58B liabilities + $370.0M equity

Both columns are drawn to the same scale: what SBGI owns equals what it owes plus shareholders’ equity. Hover a block for its value.

SBGI financial health

Current ratio2.42

Comfortable · current assets cover current liabilities 2.42×

Debt / equity10.20

High leverage · $10.20 of debt for each $1 of equity

Equity / assets7.4%

Thin equity · of assets funded by shareholders

Cash / debt19.2%

Low cash cover · cash & short-term investments vs total debt

Goodwill & intangibles37.6%

Acquisition-heavy · of total assets

Descriptive bands, not a rating. Fiscal 2025.

SBGI balance sheet trends, 2016–2025

Sinclair Broadcast Group, Inc balance sheet trends
Metric	Then	Latest	Change
Total assets	$5.96B2016	$5.95B2025	−0.0%/yr
Total liabilities	$5.41B2016	$5.58B2025	+0.4%/yr
Shareholders’ equity	$588.0M2016	$443.0M2025	−3.1%/yr
Cash & short-term investments	$260.0M2016	$866.0M2025	+14.3%/yr
Total debt	$4.20B2016	$4.52B2025	+0.8%/yr
Net cash (debt)	−$3.94B2016	−$3.65B2025	+$290.9M
Working capital	$268.6M2016	$997.0M2025	+$728.4M
Book value per share	$6.232016	$6.412025	+0.3%/yr
Current ratio	1.422016	2.422025	+1.00
Debt / equity	7.152016	10.202025	+3.05
Shares outstanding	94.4M2016	69.1M2025	−3.4%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

SBGI assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

SBGI liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

SBGI debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

SBGI balance sheet

Sinclair Broadcast Group, Inc annual balance sheet
	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash & short-term investments	$866.0M	$697.0M	$662.0M	$884.0M	$816.0M	$1.26B	$1.33B	$1.06B	$681.3M	$260.0M
Cash & equivalents	$866.0M	$697.0M	$662.0M	$884.0M	$816.0M	$1.26B	$1.33B	$1.06B	$681.3M	$260.0M
Short-term investments	—	—	—	—	—	$2.27B	—	—	$313.1M	$0
Receivables	$687.0M	$642.0M	$624.0M	$617.0M	$1.40B	$1.29B	$1.24B	$599.0M	$666.0M	$603.1M
Inventory	$0	$0	$0	$0	$85.0M	$498.0M	$0	$0	$313.1M	$5.8M
Other current assets	$147.0M	$146.0M	$189.0M	$182.0M	$173.0M	$170.0M	$345.0M	$124.6M	$54.3M	$36.3M
Total current assets	$1.70B	$1.49B	$1.48B	$1.68B	$2.47B	$3.22B	$2.91B	$1.78B	$1.71B	$905.1M
Property, plant & equipment (net)	$765.0M	$828.0M	$838.0M	$854.0M	$1.02B	$995.0M	$962.0M	$648.5M	$651.2M	$627.5M
Goodwill & intangible assets	$2.23B	$2.86B	$3.01B	$3.18B	$7.33B	$7.89B	$12.85B	$3.91B	$4.09B	$4.09B
Long-term investments	$423.0M	$430.0M	$515.0M	$555.0M	$1.08B	$901.0M	$511.0M	$117.0M	$184.3M	$19.5M
Other non-current assets	$827.0M	$280.0M	$246.0M	$428.0M	$641.0M	$382.0M	$133.0M	$113.7M	$149.2M	$319.6M
Total assets	$5.95B	$5.88B	$6.08B	$6.70B	$12.54B	$13.38B	$17.37B	$6.57B	$6.78B	$5.96B
Liabilities
Accounts payable	$133.0M	$107.0M	$142.0M	$125.0M	$154.0M	$90.0M	$115.0M	$99.0M	$101.4M	$186.7M
Short-term debt	$49.0M	$60.0M	$57.0M	$61.0M	$104.0M	$92.0M	$109.0M	$140.0M	$162.7M	$178.3M
Deferred revenue	—	—	$21.0M	$56.0M	$598.0M	$535.0M	$755.0M	$83.3M	$133.9M	$31.7M
Total current liabilities	$703.0M	$605.0M	$1.10B	$608.0M	$1.20B	$1.03B	$1.13B	$572.6M	$726.3M	$636.5M
Long-term debt	$4.36B	$4.09B	$4.14B	$4.23B	$12.27B	$12.49B	$39.0M	$3.85B	$3.88B	$4.01B
Lease obligations	$136.0M	$152.0M	$173.0M	$177.0M	$240.0M	$232.0M	$255.0M	—	—	—
Other long-term liabilities	$518.0M	$673.0M	$622.0M	$1.19B	$774.0M	$1.04B	$14.50B	$549.3M	$648.6M	$753.8M
Total liabilities	$5.58B	$5.37B	$5.86B	$6.02B	$14.25B	$14.57B	$15.68B	$4.97B	$5.25B	$5.41B
Shareholders' equity
Common stock & paid-in capital	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$946,000	$1.32B	$844.6M
Retained earnings (deficit)	−$171.0M	$10.0M	−$234.0M	$122.0M	−$2.46B	−$1.99B	$492.0M	$517.6M	$248.8M	−$255.8M
Treasury stock	—	—	—	—	—	—	—	—	$0	$0
Accumulated other comprehensive income	—	$2.0M	$1.0M	$1.0M	−$2.0M	−$10.0M	−$2.0M	−$784,000	−$1.4M	−$807,000
Minority interest	−$73.0M	−$67.0M	−$64.0M	−$67.0M	$64.0M	$89.0M	$192.0M	−$38.5M	−$34.4M	−$30.0M
Total shareholders' equity	$443.0M	$583.0M	$285.0M	$748.0M	−$1.77B	−$1.27B	$1.50B	$1.64B	$1.57B	$588.0M
Key figures
Total debt	$4.52B	$4.28B	$4.35B	$4.44B	$12.58B	$12.78B	$12.69B	$3.89B	$4.05B	$4.20B
Net cash (debt)	−$3.65B	−$3.58B	−$3.69B	−$3.56B	−$11.76B	−$11.52B	−$11.36B	−$2.83B	−$3.37B	−$3.94B
Working capital	$997.0M	$880.0M	$372.0M	$1.07B	$1.27B	$2.18B	$1.78B	$1.21B	$988.4M	$268.6M
Tangible book value	−$1.79B	−$2.28B	−$2.73B	−$2.44B	−$9.10B	−$9.16B	−$11.35B	−$2.27B	−$2.52B	−$3.50B
Book value per share	$6.41	$8.82	$4.38	$10.59	−$23.58	−$15.94	$16.12	$16.11	$15.56	$6.23
Shares outstanding	69.1M	66.1M	65.1M	70.7M	75.0M	79.9M	93.2M	101.7M	100.8M	94.4M
Current ratio	2.42	2.45	1.34	2.77	2.06	3.11	2.57	3.12	2.36	1.42
Quick ratio	2.21	2.21	1.17	2.47	1.84	2.47	2.26	2.90	1.85	1.36
Debt / equity	10.20	7.34	15.26	5.94	—	—	8.45	2.38	2.58	7.15
Equity / assets	7.4%	9.9%	4.7%	11.2%	−14.1%	−9.5%	8.6%	24.9%	23.1%	9.9%

Sinclair Broadcast Group, Inc quarterly balance sheet
	Jun '26	Mar '26	Dec '25	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24	Mar '24	Dec '23	Sep '23
Assets
Cash & short-term investments	$604.0M	$844.0M	$866.0M	$526.0M	$616.0M	$631.0M	$697.0M	$536.0M	$378.0M	$655.0M	$662.0M	$643.0M
Cash & equivalents	$604.0M	$844.0M	$866.0M	$526.0M	$616.0M	$631.0M	$697.0M	$536.0M	$378.0M	$655.0M	$662.0M	$643.0M
Short-term investments	—	—	—	—	—	—	—	−$334.0M	—	—	—	—
Receivables	$647.0M	$631.0M	$687.0M	$633.0M	$624.0M	$676.0M	$642.0M	$624.0M	$670.0M	$649.0M	$624.0M	$605.0M
Inventory	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Other current assets	$137.0M	$153.0M	$147.0M	$180.0M	$219.0M	$197.0M	$146.0M	$195.0M	$174.0M	$177.0M	$189.0M	$206.0M
Total current assets	$1.39B	$1.63B	$1.70B	$1.34B	$1.46B	$1.50B	$1.49B	$1.35B	$1.22B	$1.48B	$1.48B	$1.45B
Property, plant & equipment (net)	$742.0M	$752.0M	$765.0M	$777.0M	$782.0M	$794.0M	$812.0M	$840.0M	$850.0M	$859.0M	$838.0M	$846.0M
Goodwill & intangible assets	$2.70B	$2.75B	$2.23B	$2.81B	$2.81B	$2.85B	$2.86B	$2.90B	$2.93B	$2.97B	$3.01B	$3.05B
Long-term investments	$358.0M	$335.0M	$423.0M	$356.0M	$330.0M	$347.0M	$430.0M	$431.0M	$414.0M	$481.0M	$515.0M	$502.0M
Other non-current assets	$290.0M	$316.0M	$827.0M	$290.0M	$287.0M	$279.0M	$296.0M	$261.0M	$266.0M	$244.0M	$246.0M	$228.0M
Total assets	$5.48B	$5.78B	$5.95B	$5.57B	$5.67B	$5.78B	$5.88B	$5.79B	$5.69B	$6.04B	$6.08B	$6.08B
Liabilities
Accounts payable	$526.0M	$532.0M	$133.0M	$459.0M	$558.0M	$439.0M	$107.0M	$479.0M	$503.0M	$854.0M	$142.0M	$419.0M
Short-term debt	$48.0M	$48.0M	$49.0M	$49.0M	$48.0M	$47.0M	$60.0M	$60.0M	$59.0M	$59.0M	$57.0M	$56.0M
Deferred revenue	—	—	—	—	—	—	—	—	$75.0M	$68.0M	$54.0M	$85.0M
Total current liabilities	$714.0M	$672.0M	$703.0M	$666.0M	$772.0M	$724.0M	$605.0M	$709.0M	$686.0M	$1.04B	$1.10B	$624.0M
Long-term debt	$4.04B	$4.35B	$4.36B	$4.08B	$4.08B	$4.17B	$4.09B	$4.09B	$4.11B	$4.11B	$4.14B	$4.14B
Lease obligations	$133.0M	$138.0M	$136.0M	$142.0M	$145.0M	$148.0M	$152.0M	$157.0M	$165.0M	$170.0M	$173.0M	$159.0M
Other long-term liabilities	$427.0M	$359.0M	$518.0M	$549.0M	$524.0M	$521.0M	$673.0M	$634.0M	$619.0M	$617.0M	$622.0M	$730.0M
Total liabilities	$5.18B	$5.38B	$5.58B	$5.29B	$5.38B	$5.41B	$5.37B	$5.44B	$5.41B	$5.77B	$5.86B	$5.50B
Shareholders' equity
Common stock & paid-in capital	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M
Retained earnings (deficit)	−$263.0M	−$169.0M	−$171.0M	−$263.0M	−$244.0M	−$163.0M	$10.0M	−$149.0M	−$227.0M	−$227.0M	−$234.0M	$122.0M
Accumulated other comprehensive income	—	—	—	$1.0M	$1.0M	$1.0M	$2.0M	−$2.0M	$6.0M	$5.0M	$1.0M	$9.0M
Minority interest	−$76.0M	−$75.0M	−$73.0M	−$71.0M	−$68.0M	—	—	—	—	—	—	—
Total shareholders' equity	$380.0M	$467.0M	$443.0M	$347.0M	$361.0M	$436.0M	$583.0M	$415.0M	$340.0M	$333.0M	$285.0M	$646.0M
Key figures
Total debt	$4.19B	$4.51B	$4.52B	$4.24B	$4.25B	$4.34B	$4.28B	$4.29B	$4.31B	$4.32B	$4.35B	$4.34B
Net cash (debt)	−$3.59B	−$3.67B	−$3.65B	−$3.72B	−$3.63B	−$3.71B	−$3.58B	−$3.75B	−$3.93B	−$3.66B	−$3.69B	−$3.70B
Working capital	$674.0M	$956.0M	$997.0M	$673.0M	$687.0M	$780.0M	$880.0M	$646.0M	$536.0M	$441.0M	$372.0M	$830.0M
Tangible book value	−$2.32B	−$2.28B	−$1.79B	−$2.46B	−$2.45B	−$2.42B	−$2.28B	−$2.48B	−$2.59B	−$2.64B	−$2.73B	−$2.41B
Book value per share	$5.27	$6.59	$6.32	$4.98	$5.19	$6.46	$8.67	$6.24	$5.14	$5.17	$4.49	$10.20
Shares outstanding	72.2M	70.8M	70.1M	69.7M	69.6M	67.5M	67.3M	66.5M	66.2M	64.4M	63.5M	63.3M
Current ratio	1.94	2.42	2.42	2.01	1.89	2.08	2.45	1.91	1.78	1.42	1.34	2.33
Quick ratio	1.75	2.19	2.21	1.74	1.61	1.81	2.21	1.64	1.53	1.25	1.17	2.00
Debt / equity	11.03	9.67	10.20	12.23	11.78	9.95	7.34	10.33	12.67	12.97	15.26	6.72
Equity / assets	6.9%	8.1%	7.4%	6.2%	6.4%	7.5%	9.9%	7.2%	6.0%	5.5%	4.7%	10.6%

Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 27, 2026); data from EODHD.

SBGI financial position

At the end of fiscal 2025 (December 31, 2025), Sinclair Broadcast had total assets of $5.9 billion (up 1.1% from a year earlier), total liabilities of $5.6 billion and shareholders' equity of $443.0 million. It held $866.0 million in cash and short-term investments against $4.5 billion of debt, net debt of $3.7 billion. Its current ratio was 2.42. In the latest quarter (ended June 30, 2026) total assets were $5.5 billion and equity $380.0 million.

Related: SBGI income statement, SBGI cash flow statement, SBGI key metrics. See the SBGI stock overview for the latest quote and news.

SBGI balance sheet FAQ

What are Sinclair Broadcast's total assets?

Sinclair Broadcast reported total assets of $5.9 billion at the end of fiscal 2025 (December 31, 2025), compared with $5.9 billion a year earlier.

How much debt does Sinclair Broadcast have?

Sinclair Broadcast had $4.5 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 10.20.

How much cash does Sinclair Broadcast have?

Sinclair Broadcast held $866.0 million in cash and short-term investments at the end of fiscal 2025; with $4.5 billion of debt that is net debt of $3.7 billion.

What is Sinclair Broadcast's book value?

Sinclair Broadcast's shareholders' equity (book value) was $443.0 million at the end of fiscal 2025, or $6.41 per share.

What is Sinclair Broadcast's current ratio?

Sinclair Broadcast had current assets of $1.7 billion and current liabilities of $703.0 million, a current ratio of 2.42 (it can cover its short-term obligations).

How much goodwill does Sinclair Broadcast have?

Sinclair Broadcast carried $2.2 billion of goodwill and intangible assets, 37.6% of total assets, at the end of fiscal 2025.