Nexstar Media Group, Inc. (NXST) 10-Year Financial Performance & Capital Metrics

NXST • • Industrial / General

Communication ServicesEntertainmentMedia Networks & BroadcastingBroadcast Television Networks

AboutNexstar Media Group, Inc., a television broadcasting and digital media company, focuses on the acquisition, development, and operation of television stations and interactive community websites and digital media services in the United States. The company offers free programming to television viewing audiences. As of December 31, 2020, it provided sales, programming, and other services through various local service agreements to 37 power television stations owned by independent third parties; and owned, operated, programmed, or provided sales and other services to 198 television stations. The company also offers video and display advertising platforms that are delivered locally or nationally through its own and various third party websites and mobile applications, as well as owns WGN America, a national general entertainment cable network. Its stations are affiliates of ABC, NBC, FOX, CBS, The CW, MyNetworkTV, and other broadcast television networks. The company was formerly known as Nexstar Broadcasting Group, Inc. and changed its name to Nexstar Media Group, Inc. in January 2017. Nexstar Media Group, Inc. was founded in 1996 and is headquartered in Irving, Texas.Show more

Revenue $5.41B +9.6%
EBITDA $2.08B +25.9%
Net Income $722M +108.7%
EPS (Diluted) 21.41 +121.6%
Gross Margin 58.92% +3.5%
EBITDA Margin 38.39% +14.9%
Operating Margin 23.45% +63.4%
Net Margin 13.35% +90.4%
ROE 31.52% +131.5%
ROIC 10.43% +85.3%
Debt/Equity 3.00 -2.6%
Interest Coverage 2.86 +80.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 26.6%
✓Strong 5Y profit CAGR of 25.7%
✓Strong Piotroski F-Score: 8/9
✓FCF machine: 20.4% free cash flow margin
✓14 consecutive years of dividend growth
✓High quality earnings: Operating CF exceeds net income

✗Weaknesses

✗High debt to equity ratio of 3.0x

Price & Volume

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Growth Metrics

Revenue CAGR

10Y23.96%

5Y12.21%

3Y5.17%

TTM-1.44%

Profit (Net Income) CAGR

10Y27.31%

5Y25.68%

3Y-4.69%

TTM-12.96%

EPS CAGR

10Y26.63%

5Y34.86%

3Y4.1%

TTM-6.92%

ROCE

10Y Avg10.38%

5Y Avg9.73%

3Y Avg9.54%

Latest11.63%

Peer Comparison

Broadcast Television Networks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
NWSNews Corporation	5.69B	30.70	14.83	2.42%	13.8%	12.6%	12.77%	0.31
FOXAFox Corporation	15.12B	72.55	14.78	16.6%	12.35%	16.42%	19.8%	0.60
FOXFox Corporation	15.46B	65.62	13.36	16.6%	12.35%	16.42%	19.36%	0.60
NWSANews Corporation	9.9B	26.70	12.90	2.42%	13.8%	12.6%	7.34%	0.31
NXSTNexstar Media Group, Inc.	6.62B	218.29	10.20	9.61%	10.04%	22.64%	16.69%	3.00
SBGISinclair, Inc.	693.22M	15.10	3.22	13.21%	-1.35%	-16.3%	2.02%	8.30

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	896.38M	1.1B	2.43B	2.77B	3.04B	4.5B	4.65B	5.21B	4.93B	5.41B
Revenue Growth %	0.42%	0.23%	1.2%	0.14%	0.1%	0.48%	0.03%	0.12%	-0.05%	0.1%
Cost of Goods Sold+	339.94M	416.68M	1.04B	1.12B	1.35B	1.72B	1.86B	2B	2.13B	2.22B
COGS % of Revenue	0.38%	0.38%	0.43%	0.4%	0.44%	0.38%	0.4%	0.38%	0.43%	0.41%
Gross Profit+	556.44M	686.51M	1.4B	1.65B	1.69B	2.78B	2.79B	3.21B	2.81B	3.19B
Gross Margin %	0.62%	0.62%	0.57%	0.6%	0.56%	0.62%	0.6%	0.62%	0.57%	0.59%
Gross Profit Growth %	0.32%	0.23%	1.03%	0.18%	0.03%	0.64%	0%	0.15%	-0.12%	0.13%
Operating Expenses+	350.33M	383.94M	915.05M	900.47M	1.04B	1.41B	1.61B	1.89B	2.1B	1.92B
OpEx % of Revenue	0.39%	0.35%	0.38%	0.33%	0.34%	0.31%	0.35%	0.36%	0.43%	0.35%
Selling, General & Admin	187.62M	212.43M	466.71M	469.01M	729.98M	912.1M	1.02B	1.1B	1.1B	1.09B
SG&A % of Revenue	0.21%	0.19%	0.19%	0.17%	0.24%	0.2%	0.22%	0.21%	0.22%	0.2%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	-517K	-555K	-1.28M	37.66M	305.58M	493.3M	587M	796M	1B	830M
Operating Income+	206.11M	287.31M	518.75M	757.78M	655.13M	1.38B	1.18B	1.31B	708M	1.27B
Operating Margin %	0.23%	0.26%	0.21%	0.27%	0.22%	0.31%	0.25%	0.25%	0.14%	0.23%
Operating Income Growth %	0.19%	0.39%	0.81%	0.46%	-0.14%	1.1%	-0.15%	0.12%	-0.46%	0.79%
EBITDA+	323.96M	407.64M	841.81M	1.08B	1.06B	1.94B	1.76B	1.97B	1.65B	2.08B
EBITDA Margin %	0.36%	0.37%	0.35%	0.39%	0.35%	0.43%	0.38%	0.38%	0.33%	0.38%
EBITDA Growth %	0.32%	0.26%	1.07%	0.28%	-0.01%	0.82%	-0.09%	0.12%	-0.16%	0.26%
D&A (Non-Cash Add-back)	117.85M	120.33M	323.07M	320.54M	408.71M	564.9M	589M	662M	941M	808M
EBIT	206.11M	310.97M	482.58M	753.94M	677.67M	1.44B	1.38B	1.55B	848M	1.4B
Net Interest Income+	-80.52M	-116.08M	-241.19M	-220.99M	-304.35M	-335.3M	-283M	-337M	-447M	-444M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	80.52M	116.08M	241.19M	220.99M	304.35M	335.3M	283M	337M	447M	444M
Other Income/Expense	-81.04M	-116.64M	-264.24M	-224.83M	-281.81M	-270.8M	-82M	-95M	-307M	-309M
Pretax Income+	125.07M	170.67M	241.38M	532.95M	373.32M	1.1B	1.09B	1.22B	401M	959M
Pretax Margin %	0.14%	0.15%	0.1%	0.19%	0.12%	0.25%	0.24%	0.23%	0.08%	0.18%
Income Tax+	48.69M	77.57M	-233.94M	144.68M	137.03M	296.5M	263M	274M	131M	276M
Effective Tax Rate %	0.62%	0.54%	1.97%	0.73%	0.62%	0.73%	0.76%	0.8%	0.86%	0.75%
Net Income+	77.68M	91.54M	475M	389.48M	230.26M	811.5M	834M	971M	346M	722M
Net Margin %	0.09%	0.08%	0.2%	0.14%	0.08%	0.18%	0.18%	0.19%	0.07%	0.13%
Net Income Growth %	0.2%	0.18%	4.19%	-0.18%	-0.41%	2.52%	0.03%	0.16%	-0.64%	1.09%
Net Income (Continuing)	76.38M	93.1M	475.33M	388.26M	236.29M	808.1M	830M	943M	270M	683M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	5.7M	115.21M	10.7M	16.21M	22M	18.48M	7.1M	28M	14M	11M
EPS (Diluted)+	2.42	2.89	10.07	8.21	4.80	17.37	18.98	24.16	9.66	21.41
EPS Growth %	0.2%	0.19%	2.48%	-0.18%	-0.42%	2.62%	0.09%	0.27%	-0.6%	1.22%
EPS (Basic)	2.50	2.98	10.38	8.52	5.01	18.06	19.81	24.68	9.80	21.73
Diluted Shares Outstanding	32.09M	31.66M	45.75M	47.41M	47.92M	46.72M	43.98M	40.19M	35.83M	32.8M
Basic Shares Outstanding	31.1M	30.69M	45.75M	45.72M	45.99M	44.92M	42.13M	39.35M	35.32M	32.31M
Dividend Payout Ratio	0.3%	0.32%	0.12%	0.18%	0.36%	0.12%	0.14%	0.15%	0.55%	0.3%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	260.03M	363.22M	1.06B	767.08M	1.35B	1.21B	1.41B	1.61B	1.47B	1.3B
Cash & Short-Term Investments	43.42M	87.68M	115.65M	145.12M	232.07M	152.7M	190.9M	204M	147M	144M
Cash Only	43.42M	87.68M	115.65M	145.12M	232.07M	152.7M	190.9M	204M	147M	144M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	192.99M	218.06M	562.94M	547.28M	883.92M	904.8M	1.02B	1.08B	1.09B	1.03B
Days Sales Outstanding	78.58	72.15	84.49	72.2	106.15	73.37	80.18	75.65	81.02	69.4
Inventory	7.32M	41.75M	71.86M	22.67M	0	0	0	0	0	0
Days Inventory Outstanding	7.86	36.57	25.32	7.4	-	-	-	-	-	-
Other Current Assets	16.3M	26.72M	305.76M	52M	83.78M	16.61M	15.63M	331M	224M	125M
Total Non-Current Assets+	1.58B	2.6B	6.43B	6.29B	12.64B	12.19B	11.85B	11.06B	10.61B	10.17B
Property, Plant & Equipment	266.58M	276.15M	734.14M	731.54M	1.29B	1.6B	1.51B	1.26B	1.56B	1.21B
Fixed Asset Turnover	3.36x	3.99x	3.31x	3.78x	2.36x	2.80x	3.07x	4.13x	3.16x	4.48x
Goodwill	451.66M	473.3M	2.14B	2.17B	3B	2.98B	3.05B	2.96B	2.95B	2.92B
Intangible Assets	803.7M	867.26M	3.35B	3.27B	6.18B	5.85B	5.63B	5.34B	5.05B	4.78B
Long-Term Investments	0	901.08M	0	14M	1.48B	1.33B	1.22B	1.12B	958M	877M
Other Non-Current Assets	53.16M	986.15M	199.18M	125.27M	692.23M	422.72M	441.5M	378M	96M	389M
Total Assets+	1.84B	2.97B	7.48B	7.06B	13.99B	13.4B	13.26B	12.68B	12.08B	11.47B
Asset Turnover	0.49x	0.37x	0.33x	0.39x	0.22x	0.34x	0.35x	0.41x	0.41x	0.47x
Asset Growth %	0.26%	0.62%	1.52%	-0.06%	0.98%	-0.04%	-0.01%	-0.04%	-0.05%	-0.05%
Total Current Liabilities+	146.06M	189.58M	670.7M	404.17M	947.56M	730.89M	787.3M	893M	961M	783M
Accounts Payable	25.94M	19.75M	31.14M	67.83M	157.37M	218.42M	248.2M	198M	235M	133M
Days Payables Outstanding	27.85	17.3	10.97	22.15	42.59	46.34	48.65	36.04	40.36	21.86
Short-Term Debt	22.14M	28.09M	92.81M	96.09M	109.31M	21.43M	47.2M	124M	124M	124M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	0	0	0	0	0	0
Other Current Liabilities	82.08M	121.02M	501.98M	90.97M	226.58M	146.57M	176.5M	164M	442M	169M
Current Ratio	1.78x	1.92x	1.57x	1.90x	1.43x	1.66x	1.79x	1.81x	1.53x	1.66x
Quick Ratio	1.73x	1.70x	1.47x	1.84x	1.43x	1.66x	1.79x	1.81x	1.53x	1.66x
Cash Conversion Cycle	58.6	91.41	98.84	57.46	-	-	-	-	-	-
Total Non-Current Liabilities+	1.6B	2.49B	5.23B	4.79B	10.99B	10.14B	9.62B	9.02B	8.8B	8.42B
Long-Term Debt	1.45B	2.31B	4.27B	3.88B	8.38B	7.65B	7.37B	6.83B	6.71B	6.4B
Capital Lease Obligations	4.4M	0	0	0	0	0	0	0	246M	253M
Deferred Tax Liabilities	101.76M	132.01M	619.44M	633.88M	1.71B	1.67B	1.73B	1.61B	1.52B	1.49B
Other Non-Current Liabilities	42.46M	45.82M	340.54M	270.08M	894.75M	815.93M	523.3M	584M	325M	278M
Total Liabilities	1.75B	2.68B	5.9B	5.19B	11.94B	10.87B	10.41B	9.91B	9.77B	9.2B
Total Debt+	1.48B	2.34B	4.36B	3.98B	8.49B	7.7B	7.46B	7B	7.13B	6.81B
Net Debt	1.43B	2.25B	4.25B	3.84B	8.26B	7.55B	7.27B	6.8B	6.98B	6.67B
Debt / Equity	17.09x	8.24x	2.76x	2.13x	4.14x	3.04x	2.61x	2.53x	3.08x	3.00x
Debt / EBITDA	4.56x	5.75x	5.18x	3.69x	7.98x	3.97x	4.23x	3.55x	4.32x	3.28x
Net Debt / EBITDA	4.42x	5.53x	5.04x	3.56x	7.76x	3.89x	4.12x	3.44x	4.23x	3.21x
Interest Coverage	2.56x	2.48x	2.15x	3.43x	2.15x	4.10x	4.15x	3.89x	1.58x	2.86x
Total Equity+	86.37M	284.35M	1.58B	1.87B	2.05B	2.54B	2.86B	2.77B	2.31B	2.27B
Equity Growth %	0.53%	2.29%	4.56%	0.18%	0.1%	0.24%	0.13%	-0.03%	-0.16%	-0.02%
Book Value per Share	2.69	8.98	34.56	39.42	42.85	54.30	64.97	68.90	64.55	69.15
Total Shareholders' Equity	80.67M	169.14M	1.57B	1.85B	2.03B	2.52B	2.85B	2.74B	2.3B	2.26B
Common Stock	316K	316K	473K	473K	473K	473K	500K	0	0	0
Retained Earnings	-268.12M	-176.58M	299.52M	620.37M	778.83M	1.49B	2.2B	3.03B	3.19B	3.67B
Treasury Stock	-47.75M	-41.51M	-78.06M	-105.69M	-121.39M	-367.13M	-807M	-1.61B	-2.17B	-2.72B
Accumulated OCI	-251.23M	-287.27M	6.14M	-14.32M	19.85M	34.51M	141.6M	27M	1M	-1M
Minority Interest	5.7M	115.21M	10.7M	16.21M	22M	18.48M	7.1M	28M	14M	11M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	205.31M	284.25M	109.09M	736.87M	417.47M	1.25B	1.22B	1.4B	999M	1.25B
Operating CF Margin %	0.23%	0.26%	0.04%	0.27%	0.14%	0.28%	0.26%	0.27%	0.2%	0.23%
Operating CF Growth %	0.23%	0.38%	-0.62%	5.75%	-0.43%	2%	-0.03%	0.15%	-0.29%	0.25%
Net Income	76.38M	93.1M	475.33M	388.26M	236.29M	808.1M	830M	943M	270M	683M
Depreciation & Amortization	117.85M	120.33M	323.07M	320.54M	408.71M	564.9M	589M	662M	941M	808M
Stock-Based Compensation	11.4M	11.39M	24.07M	31.26M	38.62M	48.3M	47M	62M	60M	78M
Deferred Taxes	43.67M	54.59M	-463.19M	12.4M	-4.54M	-43.6M	5M	-103M	-77M	-33M
Other Non-Cash Items	-13.52M	4.95M	-49.17M	-33.06M	-167.54M	-41.5M	-43M	-47M	-204M	-235M
Working Capital Changes	-30.48M	-110K	-201.02M	17.46M	-94.07M	-82M	-213M	-114M	9M	-51M
Change in Receivables	-30.31M	-27.29M	-56.67M	30.87M	2.18M	14M	-109M	-12M	-13M	68M
Change in Inventory	0	0	0	0	0	0	0	0	0	0
Change in Payables	16.9M	1.63M	-62.5M	16.52M	49.9M	53.7M	28M	-50M	32M	-98M
Cash from Investing+	-474.34M	-135.12M	-2.07B	-175.51M	-4.7B	-39.8M	-232M	125M	-173M	-102M
Capital Expenditures	-29.02M	-31.87M	-72.46M	-106.25M	-197.51M	-217M	-151M	-157M	-149M	-145M
CapEx % of Revenue	0.03%	0.03%	0.03%	0.04%	0.06%	0.05%	0.03%	0.03%	0.03%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	3.62M	718K	499.48M	34.71M	28.59M	207.8M	57M	253M	14M	3M
Cash from Financing+	180.54M	822.93M	1.06B	-531.89M	4.39B	-1.29B	-945M	-1.51B	-899M	-1.15B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-23.69M	-29.45M	-55.89M	-68.63M	-82.82M	-101M	-118M	-142M	-191M	-219M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	232K	-22.23M	-392.29M	-2.27M	-104.24M	-53.7M	-21M	-12M	22M	-4M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	176.29M	252.38M	36.63M	630.62M	219.96M	1.04B	1.06B	1.25B	850M	1.1B
FCF Margin %	0.2%	0.23%	0.02%	0.23%	0.07%	0.23%	0.23%	0.24%	0.17%	0.2%
FCF Growth %	0.21%	0.43%	-0.85%	16.22%	-0.65%	3.72%	0.03%	0.17%	-0.32%	0.3%
FCF per Share	5.49	7.97	0.80	13.30	4.59	22.20	24.19	31.01	23.72	33.69
FCF Conversion (FCF/Net Income)	2.64x	3.11x	0.23x	1.89x	1.81x	1.55x	1.46x	1.44x	2.89x	1.73x
Interest Paid	70.43M	78.26M	239.56M	218.75M	250.66M	324.3M	273M	330M	437M	431M
Taxes Paid	29.06M	29.39M	272.69M	90.72M	315.05M	351.7M	320M	370M	169M	254M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	108.72%	49.38%	50.92%	22.58%	11.74%	35.36%	30.92%	34.52%	13.62%	31.52%
Return on Invested Capital (ROIC)	11.54%	10.62%	9.3%	9.86%	6.13%	10.11%	8.72%	9.99%	5.63%	10.43%
Gross Margin	62.08%	62.23%	57.4%	59.59%	55.63%	61.78%	59.94%	61.52%	56.92%	58.92%
Net Margin	8.67%	8.3%	19.53%	14.08%	7.58%	18.03%	17.94%	18.63%	7.01%	13.35%
Debt / Equity	17.09x	8.24x	2.76x	2.13x	4.14x	3.04x	2.61x	2.53x	3.08x	3.00x
Interest Coverage	2.56x	2.48x	2.15x	3.43x	2.15x	4.10x	4.15x	3.89x	1.58x	2.86x
FCF Conversion	2.64x	3.11x	0.23x	1.89x	1.81x	1.55x	1.46x	1.44x	2.89x	1.73x
Revenue Growth	41.99%	23.07%	120.45%	13.76%	9.85%	48.1%	3.26%	12.11%	-5.33%	9.61%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Distribution Service	-	-	-	-	-	-	-	-	-	2.93B
Distribution Service Growth	-	-	-	-	-	-	-	-	-	-
Advertising	-	-	-	-	-	-	-	-	-	2.42B
Advertising Growth	-	-	-	-	-	-	-	-	-	-
Other	-	-	-	-	-	-	-	-	-	64M
Other Growth	-	-	-	-	-	-	-	-	-	-
Broadcast	-	-	2.31B	-	-	4.41B	1.74B	5.03B	4.61B	-
Broadcast Growth	-	-	-	-	-	-	-60.51%	188.99%	-8.38%	-
Corporate and Other	-	-	-	-	-	-	-152.79M	-	88M	-
Corporate and Other Growth	-	-	-	-	-	-	-	-	-	-
Others	-	-	-	-	-	-	-	173.7M	-	-
Others Growth	-	-	-	-	-	-	-	-	-	-
Corporate	-	-	-	-	-	-	-	4.4M	-	-
Corporate Growth	-	-	-	-	-	-	-	-	-	-
Corporate And Other	49.45M	62.49M	125.56M	-	-	90.74M	-	-	-	-
Corporate And Other Growth	-	26.36%	100.94%	-	-	-	-	-	-	-
Net Broadcast Revenue	-	-	-	2.77B	3.04B	-	-	-	-	-
Net Broadcast Revenue Growth	-	-	-	-	9.85%	-	-	-	-	-
Broadcasting	846.93M	1.04B	-	-	-	-	-	-	-	-
Broadcasting Growth	-	22.88%	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Nexstar Media Group, Inc. (NXST) has a price-to-earnings (P/E) ratio of 10.2x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Nexstar Media Group, Inc. (NXST) reported $5.15B in revenue for fiscal year 2024. This represents a 1580% increase from $306.5M in 2011.

Nexstar Media Group, Inc. (NXST) grew revenue by 9.6% over the past year. This is steady growth.

Yes, Nexstar Media Group, Inc. (NXST) is profitable, generating $517.0M in net income for fiscal year 2024 (13.4% net margin).

Dividend & Returns

Yes, Nexstar Media Group, Inc. (NXST) pays a dividend with a yield of 3.06%. This makes it attractive for income-focused investors.

Nexstar Media Group, Inc. (NXST) has a return on equity (ROE) of 31.5%. This is excellent, indicating efficient use of shareholder capital.

Nexstar Media Group, Inc. (NXST) generated $983.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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