$Sinclair Broadcast Group (SBGI.US)$In the past 5 years, rev...

逍遥投资派 commented on a stock · Jul 4, 2023 17:16

$Sinclair Broadcast Group (SBGI.US)$In the past 5 years, revenue grew rapidly in the first 4 years. The growth rate peaked at 3.2% in 2021, and shrank sharply by 36% in 2022. Operating profit was greatly affected by cost fluctuations. After reaching a high of 1.38 billion yuan in 2020, it fell to a low of 24 million yuan in 2021, and in 2022, operating profit grew to 560 million yuan due to drastic cuts in operating expenses and cost reductions. In 2020, net profit was a sharp loss of 2.43 billion dollars due to capital asset impairment, and in 2022, a significant profit of 2.7 billion dollars due to business sales proceeds.

2023Q1 revenue fell 40%, operating profit fell 74%, and net profit was affected by income tax rebates and was exempt from loss.

Since net profit fluctuates too drastically, it is more meaningful to look at the 5-year average. The 5-year average net profit is 80 million yuan, which corresponds to a price-earnings ratio of 11. The valuation is not high, but considering that profit fluctuations are too large, it is very difficult to predict, and there is currently no investment value.

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