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

NXST •

Communication ServicesEntertainmentBroadcast and Local TV Stations

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 $4.95B -8.5%
EBITDA $1.32B -36.4%
Net Income $109M -84.9%
EPS (Diluted) 3.00 -86.0%
Gross Margin -
EBITDA Margin 26.67% -30.5%
Operating Margin 17.16% -26.8%
Net Margin 2.2% -83.5%
ROE -
ROIC 19.1% +83.1%
Debt/Equity -
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 22.6%
✓FCF machine: 15.0% free cash flow margin
✓Momentum leader: RS Rating 81 (top 19%)
✓High quality earnings: Operating CF exceeds net income
✓Healthy dividend yield of 2.2%
✓Share count reduced 6.4% through buybacks

✗Weaknesses

✗Profits declining 33.1% over 5 years
✗Dividend payout exceeds 100% of earnings

Price & Volume

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Growth Metrics

Revenue CAGR

10Y18.63%

5Y1.91%

3Y-1.7%

TTM-8.44%

Profit (Net Income) CAGR

10Y3.44%

5Y-33.07%

3Y-51.76%

TTM-84.9%

EPS CAGR

10Y2.17%

5Y-29.62%

3Y-50.11%

TTM-86.07%

ROCE

10Y Avg10.56%

5Y Avg10.65%

3Y Avg11.04%

Latest15.29%

Peer Comparison

Broadcast and Local TV Stations

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
NXSTNexstar Media Group, Inc.	7.61B	251.02	83.67	-8.47%	2.2%		9.76%
FOXAFox Corporation	12.62B	56.34	11.47	16.6%	11.41%	17%	23.72%	0.60
FOXFox Corporation	12.16B	51.73	10.54	16.6%	11.41%	17%	24.62%	0.60
SBGISinclair, Inc.	388.48M	16.34	3.48	13.21%	-1.35%	-16.3%	3.6%	8.30

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	1.1B	2.43B	2.77B	3.04B	4.5B	4.65B	5.21B	4.93B	5.41B	4.95B
Revenue Growth %	23.07%	120.45%	13.76%	9.85%	48.1%	3.26%	12.11%	-5.33%	9.61%	-8.47%
Cost of Goods Sold+	416.68M	1.04B	1.12B	1.35B	1.72B	1.86B	2B	2.13B	2.22B	0
COGS % of Revenue	37.77%	42.6%	40.41%	44.37%	38.22%	40.06%	38.48%	43.08%	41.08%	-
Gross Profit+	686.51M	1.4B	1.65B	1.69B	2.78B	2.79B	3.21B	2.81B	3.19B	0
Gross Margin %	62.23%	57.4%	59.59%	55.63%	61.78%	59.94%	61.52%	56.92%	58.92%	-
Gross Profit Growth %	23.38%	103.36%	18.1%	2.54%	64.48%	0.19%	15.08%	-12.41%	13.46%	-100%
Operating Expenses+	383.94M	915.05M	900.47M	1.04B	1.41B	1.61B	1.89B	2.1B	1.92B	4.1B
OpEx % of Revenue	34.8%	37.63%	32.55%	34.07%	31.22%	34.66%	36.35%	42.57%	35.47%	82.84%
Selling, General & Admin	212.43M	466.71M	469.01M	729.98M	912.1M	1.02B	1.1B	1.1B	1.09B	815M
SG&A % of Revenue	19.26%	19.19%	16.95%	24.02%	20.26%	22.03%	21.07%	22.22%	20.12%	16.47%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	-555K	-1.28M	37.66M	305.58M	493.3M	587M	796M	1B	830M	3.29B
Operating Income+	287.31M	518.75M	757.78M	655.13M	1.38B	1.18B	1.31B	708M	1.27B	849M
Operating Margin %	26.04%	21.33%	27.39%	21.56%	30.56%	25.28%	25.18%	14.35%	23.45%	17.16%
Operating Income Growth %	39.4%	80.55%	46.08%	-13.55%	109.94%	-14.57%	11.66%	-46.04%	79.1%	-33.04%
EBITDA+	407.64M	841.81M	1.08B	1.06B	1.94B	1.76B	1.97B	1.65B	2.08B	1.32B
EBITDA Margin %	36.95%	34.61%	38.97%	35%	43.11%	37.95%	37.88%	33.43%	38.39%	26.67%
EBITDA Growth %	25.83%	106.51%	28.09%	-1.34%	82.39%	-9.09%	11.9%	-16.46%	25.89%	-36.42%
D&A (Non-Cash Add-back)	120.33M	323.07M	320.54M	408.71M	564.9M	589M	662M	941M	808M	471M
EBIT	310.97M	482.58M	753.94M	677.67M	1.44B	1.38B	1.55B	848M	1.4B	0
Net Interest Income+	-116.08M	-241.19M	-220.99M	-304.35M	-335.3M	-283M	-337M	-447M	-444M	0
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	116.08M	241.19M	220.99M	304.35M	335.3M	283M	337M	447M	444M	-379M
Other Income/Expense	-116.64M	-264.24M	-224.83M	-281.81M	-270.8M	-82M	-95M	-307M	-309M	-699M
Pretax Income+	170.67M	241.38M	532.95M	373.32M	1.1B	1.09B	1.22B	401M	959M	150M
Pretax Margin %	15.47%	9.93%	19.26%	12.28%	24.54%	23.52%	23.35%	8.13%	17.74%	3.03%
Income Tax+	77.57M	-233.94M	144.68M	137.03M	296.5M	263M	274M	131M	276M	-67M
Effective Tax Rate %	53.63%	196.78%	73.08%	61.68%	73.47%	76.3%	79.79%	86.28%	75.29%	72.67%
Net Income+	91.54M	475M	389.48M	230.26M	811.5M	834M	971M	346M	722M	109M
Net Margin %	8.3%	19.53%	14.08%	7.58%	18.03%	17.94%	18.63%	7.01%	13.35%	2.2%
Net Income Growth %	17.83%	418.91%	-18%	-40.88%	252.43%	2.77%	16.43%	-64.37%	108.67%	-84.9%
Net Income (Continuing)	93.1M	475.33M	388.26M	236.29M	808.1M	830M	943M	270M	683M	109M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	115.21M	10.7M	16.21M	22M	18.48M	7.1M	28M	14M	11M	0
EPS (Diluted)+	2.89	10.07	8.21	4.80	17.37	18.98	24.16	9.66	21.41	3.00
EPS Growth %	19.42%	248.44%	-18.47%	-41.53%	261.88%	9.27%	27.29%	-60.02%	121.64%	-85.99%
EPS (Basic)	2.98	10.38	8.52	5.01	18.06	19.81	24.68	9.80	21.73	3.04
Diluted Shares Outstanding	31.66M	45.75M	47.41M	47.92M	46.72M	43.98M	40.19M	35.83M	32.8M	30.71M
Basic Shares Outstanding	30.69M	45.75M	45.72M	45.99M	44.92M	42.13M	39.35M	35.32M	32.31M	30.35M
Dividend Payout Ratio	32.17%	11.77%	17.62%	35.97%	12.45%	14.15%	14.62%	55.2%	30.33%	155.05%

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	363.22M	1.06B	767.08M	1.35B	1.21B	1.41B	1.61B	1.47B	1.3B	0
Cash & Short-Term Investments	87.68M	115.65M	145.12M	232.07M	152.7M	190.9M	204M	147M	144M	0
Cash Only	87.68M	115.65M	145.12M	232.07M	152.7M	190.9M	204M	147M	144M	0
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	218.06M	562.94M	547.28M	883.92M	904.8M	1.02B	1.08B	1.09B	1.03B	0
Days Sales Outstanding	72.15	84.49	72.2	106.15	73.37	80.18	75.65	81.02	69.4	-
Inventory	41.75M	71.86M	22.67M	0	0	0	0	0	0	0
Days Inventory Outstanding	36.57	25.32	7.4	-	-	-	-	-	-	-
Other Current Assets	26.72M	305.76M	52M	83.78M	16.61M	15.63M	331M	224M	125M	0
Total Non-Current Assets+	2.6B	6.43B	6.29B	12.64B	12.19B	11.85B	11.06B	10.61B	10.17B	485M
Property, Plant & Equipment	276.15M	734.14M	731.54M	1.29B	1.6B	1.51B	1.26B	1.56B	1.21B	0
Fixed Asset Turnover	3.99x	3.31x	3.78x	2.36x	2.80x	3.07x	4.13x	3.16x	4.48x	-
Goodwill	473.3M	2.14B	2.17B	3B	2.98B	3.05B	2.96B	2.95B	2.92B	14M
Intangible Assets	867.26M	3.35B	3.27B	6.18B	5.85B	5.63B	5.34B	5.05B	4.78B	471M
Long-Term Investments	901.08M	0	14M	1.48B	1.33B	1.22B	1.12B	958M	877M	0
Other Non-Current Assets	986.15M	199.18M	125.27M	692.23M	422.72M	441.5M	378M	96M	389M	0
Total Assets+	2.97B	7.48B	7.06B	13.99B	13.4B	13.26B	12.68B	12.08B	11.47B	485M
Asset Turnover	0.37x	0.33x	0.39x	0.22x	0.34x	0.35x	0.41x	0.41x	0.47x	10.20x
Asset Growth %	61.63%	152.24%	-5.61%	98.1%	-4.18%	-1.04%	-4.41%	-4.74%	-5.05%	-95.77%
Total Current Liabilities+	189.58M	670.7M	404.17M	947.56M	730.89M	787.3M	893M	961M	783M	67M
Accounts Payable	19.75M	31.14M	67.83M	157.37M	218.42M	248.2M	198M	235M	133M	0
Days Payables Outstanding	17.3	10.97	22.15	42.59	46.34	48.65	36.04	40.36	21.86	-
Short-Term Debt	28.09M	92.81M	96.09M	109.31M	21.43M	47.2M	124M	124M	124M	0
Deferred Revenue (Current)	132.02M	215.5M	175.9M	0	0	0	0	0	0	0
Other Current Liabilities	121.02M	501.98M	90.97M	226.58M	146.57M	176.5M	164M	442M	169M	67M
Current Ratio	1.92x	1.57x	1.90x	1.43x	1.66x	1.79x	1.81x	1.53x	1.66x	-
Quick Ratio	1.70x	1.47x	1.84x	1.43x	1.66x	1.79x	1.81x	1.53x	1.66x	-
Cash Conversion Cycle	91.41	98.84	57.46	-	-	-	-	-	-	-
Total Non-Current Liabilities+	2.49B	5.23B	4.79B	10.99B	10.14B	9.62B	9.02B	8.8B	8.42B	0
Long-Term Debt	2.31B	4.27B	3.88B	8.38B	7.65B	7.37B	6.83B	6.71B	6.4B	0
Capital Lease Obligations	0	0	0	0	0	0	0	246M	253M	0
Deferred Tax Liabilities	132.01M	619.44M	633.88M	1.71B	1.67B	1.73B	1.61B	1.52B	1.49B	0
Other Non-Current Liabilities	45.82M	340.54M	270.08M	894.75M	815.93M	523.3M	584M	325M	278M	0
Total Liabilities	2.68B	5.9B	5.19B	11.94B	10.87B	10.41B	9.91B	9.77B	9.2B	0
Total Debt+	2.34B	4.36B	3.98B	8.49B	7.7B	7.46B	7B	7.13B	6.81B	0
Net Debt	2.25B	4.25B	3.84B	8.26B	7.55B	7.27B	6.8B	6.98B	6.67B	0
Debt / Equity	8.24x	2.76x	2.13x	4.14x	3.04x	2.61x	2.53x	3.08x	3.00x	-
Debt / EBITDA	5.75x	5.18x	3.69x	7.98x	3.97x	4.23x	3.55x	4.32x	3.28x	-
Net Debt / EBITDA	5.53x	5.04x	3.56x	7.76x	3.89x	4.12x	3.44x	4.23x	3.21x	-
Interest Coverage	2.48x	2.15x	3.43x	2.15x	4.10x	4.15x	3.89x	1.58x	2.86x	-
Total Equity+	284.35M	1.58B	1.87B	2.05B	2.54B	2.86B	2.77B	2.31B	2.27B	0
Equity Growth %	229.22%	456.11%	18.19%	9.87%	23.54%	12.64%	-3.1%	-16.47%	-1.95%	-100%
Book Value per Share	8.98	34.56	39.42	42.85	54.30	64.97	68.90	64.55	69.15	-
Total Shareholders' Equity	169.14M	1.57B	1.85B	2.03B	2.52B	2.85B	2.74B	2.3B	2.26B	0
Common Stock	316K	473K	473K	473K	473K	500K	0	0	0	0
Retained Earnings	-176.58M	299.52M	620.37M	778.83M	1.49B	2.2B	3.03B	3.19B	3.67B	0
Treasury Stock	-41.51M	-78.06M	-105.69M	-121.39M	-367.13M	-807M	-1.61B	-2.17B	-2.72B	0
Accumulated OCI	-287.27M	6.14M	-14.32M	19.85M	34.51M	141.6M	27M	1M	-1M	0
Minority Interest	115.21M	10.7M	16.21M	22M	18.48M	7.1M	28M	14M	11M	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	284.25M	109.09M	736.87M	417.47M	1.25B	1.22B	1.4B	999M	1.25B	891M
Operating CF Margin %	25.77%	4.49%	26.63%	13.74%	27.86%	26.14%	26.92%	20.25%	23.12%	18%
Operating CF Growth %	38.45%	-61.62%	575.46%	-43.35%	200.43%	-3.13%	15.47%	-28.8%	25.13%	-28.72%
Net Income	93.1M	475.33M	388.26M	236.29M	808.1M	830M	943M	270M	683M	362M
Depreciation & Amortization	120.33M	323.07M	320.54M	408.71M	564.9M	589M	662M	941M	808M	592M
Stock-Based Compensation	11.39M	24.07M	31.26M	38.62M	48.3M	47M	62M	60M	78M	58M
Deferred Taxes	54.59M	-463.19M	12.4M	-4.54M	-43.6M	5M	-103M	-77M	-33M	-20M
Other Non-Cash Items	4.95M	-49.17M	-33.06M	-167.54M	-41.5M	-43M	-47M	-204M	-235M	-49M
Working Capital Changes	-110K	-201.02M	17.46M	-94.07M	-82M	-213M	-114M	9M	-51M	-52M
Change in Receivables	-27.29M	-56.67M	30.87M	2.18M	14M	-109M	-12M	-13M	68M	15M
Change in Inventory	0	0	0	0	0	0	0	0	0	0
Change in Payables	1.63M	-62.5M	16.52M	49.9M	53.7M	28M	-50M	32M	-98M	-30M
Cash from Investing+	-135.12M	-2.07B	-175.51M	-4.7B	-39.8M	-232M	125M	-173M	-102M	-173M
Capital Expenditures	-31.87M	-72.46M	-106.25M	-197.51M	-217M	-151M	-157M	-149M	-145M	-148M
CapEx % of Revenue	2.89%	2.98%	3.84%	6.5%	4.82%	3.25%	3.01%	3.02%	2.68%	2.99%
Acquisitions	-103.97M	-2.49B	-103.98M	-4.53B	-23.6M	-138M	29M	-38M	0	-22M
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	718K	499.48M	34.71M	28.59M	207.8M	57M	253M	14M	3M	-3M
Cash from Financing+	822.93M	1.06B	-531.89M	4.39B	-1.29B	-945M	-1.51B	-899M	-1.15B	-582M
Debt Issued (Net)	874.6M	1.6B	-410.47M	4.62B	-857.2M	-269M	-480M	-125M	-327M	-175M
Equity Issued (Net)	0	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K
Dividends Paid	-29.45M	-55.89M	-68.63M	-82.82M	-101M	-118M	-142M	-191M	-219M	-169M
Share Repurchases	0	-99.01M	-50.52M	-45.12M	-281.9M	-537M	-881M	-605M	-601M	-120M
Other Financing	-22.23M	-392.29M	-2.27M	-104.24M	-53.7M	-21M	-12M	22M	-4M	-118M
Net Change in Cash	972.06M	-899.83M	29.46M	103.56M	-79.4M	38M	13M	-73M	-3M	136M
Free Cash Flow+	252.38M	36.63M	630.62M	219.96M	1.04B	1.06B	1.25B	850M	1.1B	743M
FCF Margin %	22.88%	1.51%	22.79%	7.24%	23.04%	22.89%	23.91%	17.23%	20.44%	15.01%
FCF Growth %	43.17%	-85.49%	1621.6%	-65.12%	371.55%	2.58%	17.11%	-31.78%	30%	-32.76%
FCF per Share	7.97	0.80	13.30	4.59	22.20	24.19	31.01	23.72	33.69	24.20
FCF Conversion (FCF/Net Income)	3.11x	0.23x	1.89x	1.81x	1.55x	1.46x	1.44x	2.89x	1.73x	8.17x
Interest Paid	78.26M	239.56M	218.75M	250.66M	324.3M	273M	330M	437M	431M	328M
Taxes Paid	29.39M	272.69M	90.72M	315.05M	351.7M	320M	370M	169M	254M	175M

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	49.38%	50.92%	22.58%	11.74%	35.36%	30.92%	34.52%	13.62%	31.52%	-
Return on Invested Capital (ROIC)	10.62%	9.3%	9.86%	6.13%	10.11%	8.72%	9.99%	5.63%	10.43%	19.1%
Gross Margin	62.23%	57.4%	59.59%	55.63%	61.78%	59.94%	61.52%	56.92%	58.92%	-
Net Margin	8.3%	19.53%	14.08%	7.58%	18.03%	17.94%	18.63%	7.01%	13.35%	2.2%
Debt / Equity	8.24x	2.76x	2.13x	4.14x	3.04x	2.61x	2.53x	3.08x	3.00x	-
Interest Coverage	2.48x	2.15x	3.43x	2.15x	4.10x	4.15x	3.89x	1.58x	2.86x	-
FCF Conversion	3.11x	0.23x	1.89x	1.81x	1.55x	1.46x	1.44x	2.89x	1.73x	8.17x
Revenue Growth	23.07%	120.45%	13.76%	9.85%	48.1%	3.26%	12.11%	-5.33%	9.61%	-8.47%

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

NXST •

Communication ServicesEntertainmentBroadcast and Local TV Stations

Revenue $4.95B -8.5%
EBITDA $1.32B -36.4%
Net Income $109M -84.9%
EPS (Diluted) 3.00 -86.0%
Gross Margin -
EBITDA Margin 26.67% -30.5%
Operating Margin 17.16% -26.8%
Net Margin 2.2% -83.5%
ROE -
ROIC 19.1% +83.1%
Debt/Equity -
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 22.6%
✓FCF machine: 15.0% free cash flow margin
✓Momentum leader: RS Rating 81 (top 19%)
✓High quality earnings: Operating CF exceeds net income
✓Healthy dividend yield of 2.2%
✓Share count reduced 6.4% through buybacks

✗Weaknesses

✗Profits declining 33.1% over 5 years
✗Dividend payout exceeds 100% of earnings

Price & Volume

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Growth Metrics

Revenue CAGR

10Y18.63%

5Y1.91%

3Y-1.7%

TTM-8.44%

Profit (Net Income) CAGR

10Y3.44%

5Y-33.07%

3Y-51.76%

TTM-84.9%

EPS CAGR

10Y2.17%

5Y-29.62%

3Y-50.11%

TTM-86.07%

ROCE

10Y Avg10.56%

5Y Avg10.65%

3Y Avg11.04%

Latest15.29%

Peer Comparison

Broadcast and Local TV Stations

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
NXSTNexstar Media Group, Inc.	7.61B	251.02	83.67	-8.47%	2.2%		9.76%
FOXAFox Corporation	12.62B	56.34	11.47	16.6%	11.41%	17%	23.72%	0.60
FOXFox Corporation	12.16B	51.73	10.54	16.6%	11.41%	17%	24.62%	0.60
SBGISinclair, Inc.	388.48M	16.34	3.48	13.21%	-1.35%	-16.3%	3.6%	8.30

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	1.1B	2.43B	2.77B	3.04B	4.5B	4.65B	5.21B	4.93B	5.41B	4.95B
Revenue Growth %	23.07%	120.45%	13.76%	9.85%	48.1%	3.26%	12.11%	-5.33%	9.61%	-8.47%
Cost of Goods Sold+	416.68M	1.04B	1.12B	1.35B	1.72B	1.86B	2B	2.13B	2.22B	0
COGS % of Revenue	37.77%	42.6%	40.41%	44.37%	38.22%	40.06%	38.48%	43.08%	41.08%	-
Gross Profit+	686.51M	1.4B	1.65B	1.69B	2.78B	2.79B	3.21B	2.81B	3.19B	0
Gross Margin %	62.23%	57.4%	59.59%	55.63%	61.78%	59.94%	61.52%	56.92%	58.92%	-
Gross Profit Growth %	23.38%	103.36%	18.1%	2.54%	64.48%	0.19%	15.08%	-12.41%	13.46%	-100%
Operating Expenses+	383.94M	915.05M	900.47M	1.04B	1.41B	1.61B	1.89B	2.1B	1.92B	4.1B
OpEx % of Revenue	34.8%	37.63%	32.55%	34.07%	31.22%	34.66%	36.35%	42.57%	35.47%	82.84%
Selling, General & Admin	212.43M	466.71M	469.01M	729.98M	912.1M	1.02B	1.1B	1.1B	1.09B	815M
SG&A % of Revenue	19.26%	19.19%	16.95%	24.02%	20.26%	22.03%	21.07%	22.22%	20.12%	16.47%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	-555K	-1.28M	37.66M	305.58M	493.3M	587M	796M	1B	830M	3.29B
Operating Income+	287.31M	518.75M	757.78M	655.13M	1.38B	1.18B	1.31B	708M	1.27B	849M
Operating Margin %	26.04%	21.33%	27.39%	21.56%	30.56%	25.28%	25.18%	14.35%	23.45%	17.16%
Operating Income Growth %	39.4%	80.55%	46.08%	-13.55%	109.94%	-14.57%	11.66%	-46.04%	79.1%	-33.04%
EBITDA+	407.64M	841.81M	1.08B	1.06B	1.94B	1.76B	1.97B	1.65B	2.08B	1.32B
EBITDA Margin %	36.95%	34.61%	38.97%	35%	43.11%	37.95%	37.88%	33.43%	38.39%	26.67%
EBITDA Growth %	25.83%	106.51%	28.09%	-1.34%	82.39%	-9.09%	11.9%	-16.46%	25.89%	-36.42%
D&A (Non-Cash Add-back)	120.33M	323.07M	320.54M	408.71M	564.9M	589M	662M	941M	808M	471M
EBIT	310.97M	482.58M	753.94M	677.67M	1.44B	1.38B	1.55B	848M	1.4B	0
Net Interest Income+	-116.08M	-241.19M	-220.99M	-304.35M	-335.3M	-283M	-337M	-447M	-444M	0
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	116.08M	241.19M	220.99M	304.35M	335.3M	283M	337M	447M	444M	-379M
Other Income/Expense	-116.64M	-264.24M	-224.83M	-281.81M	-270.8M	-82M	-95M	-307M	-309M	-699M
Pretax Income+	170.67M	241.38M	532.95M	373.32M	1.1B	1.09B	1.22B	401M	959M	150M
Pretax Margin %	15.47%	9.93%	19.26%	12.28%	24.54%	23.52%	23.35%	8.13%	17.74%	3.03%
Income Tax+	77.57M	-233.94M	144.68M	137.03M	296.5M	263M	274M	131M	276M	-67M
Effective Tax Rate %	53.63%	196.78%	73.08%	61.68%	73.47%	76.3%	79.79%	86.28%	75.29%	72.67%
Net Income+	91.54M	475M	389.48M	230.26M	811.5M	834M	971M	346M	722M	109M
Net Margin %	8.3%	19.53%	14.08%	7.58%	18.03%	17.94%	18.63%	7.01%	13.35%	2.2%
Net Income Growth %	17.83%	418.91%	-18%	-40.88%	252.43%	2.77%	16.43%	-64.37%	108.67%	-84.9%
Net Income (Continuing)	93.1M	475.33M	388.26M	236.29M	808.1M	830M	943M	270M	683M	109M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	115.21M	10.7M	16.21M	22M	18.48M	7.1M	28M	14M	11M	0
EPS (Diluted)+	2.89	10.07	8.21	4.80	17.37	18.98	24.16	9.66	21.41	3.00
EPS Growth %	19.42%	248.44%	-18.47%	-41.53%	261.88%	9.27%	27.29%	-60.02%	121.64%	-85.99%
EPS (Basic)	2.98	10.38	8.52	5.01	18.06	19.81	24.68	9.80	21.73	3.04
Diluted Shares Outstanding	31.66M	45.75M	47.41M	47.92M	46.72M	43.98M	40.19M	35.83M	32.8M	30.71M
Basic Shares Outstanding	30.69M	45.75M	45.72M	45.99M	44.92M	42.13M	39.35M	35.32M	32.31M	30.35M
Dividend Payout Ratio	32.17%	11.77%	17.62%	35.97%	12.45%	14.15%	14.62%	55.2%	30.33%	155.05%

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	363.22M	1.06B	767.08M	1.35B	1.21B	1.41B	1.61B	1.47B	1.3B	0
Cash & Short-Term Investments	87.68M	115.65M	145.12M	232.07M	152.7M	190.9M	204M	147M	144M	0
Cash Only	87.68M	115.65M	145.12M	232.07M	152.7M	190.9M	204M	147M	144M	0
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	218.06M	562.94M	547.28M	883.92M	904.8M	1.02B	1.08B	1.09B	1.03B	0
Days Sales Outstanding	72.15	84.49	72.2	106.15	73.37	80.18	75.65	81.02	69.4	-
Inventory	41.75M	71.86M	22.67M	0	0	0	0	0	0	0
Days Inventory Outstanding	36.57	25.32	7.4	-	-	-	-	-	-	-
Other Current Assets	26.72M	305.76M	52M	83.78M	16.61M	15.63M	331M	224M	125M	0
Total Non-Current Assets+	2.6B	6.43B	6.29B	12.64B	12.19B	11.85B	11.06B	10.61B	10.17B	485M
Property, Plant & Equipment	276.15M	734.14M	731.54M	1.29B	1.6B	1.51B	1.26B	1.56B	1.21B	0
Fixed Asset Turnover	3.99x	3.31x	3.78x	2.36x	2.80x	3.07x	4.13x	3.16x	4.48x	-
Goodwill	473.3M	2.14B	2.17B	3B	2.98B	3.05B	2.96B	2.95B	2.92B	14M
Intangible Assets	867.26M	3.35B	3.27B	6.18B	5.85B	5.63B	5.34B	5.05B	4.78B	471M
Long-Term Investments	901.08M	0	14M	1.48B	1.33B	1.22B	1.12B	958M	877M	0
Other Non-Current Assets	986.15M	199.18M	125.27M	692.23M	422.72M	441.5M	378M	96M	389M	0
Total Assets+	2.97B	7.48B	7.06B	13.99B	13.4B	13.26B	12.68B	12.08B	11.47B	485M
Asset Turnover	0.37x	0.33x	0.39x	0.22x	0.34x	0.35x	0.41x	0.41x	0.47x	10.20x
Asset Growth %	61.63%	152.24%	-5.61%	98.1%	-4.18%	-1.04%	-4.41%	-4.74%	-5.05%	-95.77%
Total Current Liabilities+	189.58M	670.7M	404.17M	947.56M	730.89M	787.3M	893M	961M	783M	67M
Accounts Payable	19.75M	31.14M	67.83M	157.37M	218.42M	248.2M	198M	235M	133M	0
Days Payables Outstanding	17.3	10.97	22.15	42.59	46.34	48.65	36.04	40.36	21.86	-
Short-Term Debt	28.09M	92.81M	96.09M	109.31M	21.43M	47.2M	124M	124M	124M	0
Deferred Revenue (Current)	132.02M	215.5M	175.9M	0	0	0	0	0	0	0
Other Current Liabilities	121.02M	501.98M	90.97M	226.58M	146.57M	176.5M	164M	442M	169M	67M
Current Ratio	1.92x	1.57x	1.90x	1.43x	1.66x	1.79x	1.81x	1.53x	1.66x	-
Quick Ratio	1.70x	1.47x	1.84x	1.43x	1.66x	1.79x	1.81x	1.53x	1.66x	-
Cash Conversion Cycle	91.41	98.84	57.46	-	-	-	-	-	-	-
Total Non-Current Liabilities+	2.49B	5.23B	4.79B	10.99B	10.14B	9.62B	9.02B	8.8B	8.42B	0
Long-Term Debt	2.31B	4.27B	3.88B	8.38B	7.65B	7.37B	6.83B	6.71B	6.4B	0
Capital Lease Obligations	0	0	0	0	0	0	0	246M	253M	0
Deferred Tax Liabilities	132.01M	619.44M	633.88M	1.71B	1.67B	1.73B	1.61B	1.52B	1.49B	0
Other Non-Current Liabilities	45.82M	340.54M	270.08M	894.75M	815.93M	523.3M	584M	325M	278M	0
Total Liabilities	2.68B	5.9B	5.19B	11.94B	10.87B	10.41B	9.91B	9.77B	9.2B	0
Total Debt+	2.34B	4.36B	3.98B	8.49B	7.7B	7.46B	7B	7.13B	6.81B	0
Net Debt	2.25B	4.25B	3.84B	8.26B	7.55B	7.27B	6.8B	6.98B	6.67B	0
Debt / Equity	8.24x	2.76x	2.13x	4.14x	3.04x	2.61x	2.53x	3.08x	3.00x	-
Debt / EBITDA	5.75x	5.18x	3.69x	7.98x	3.97x	4.23x	3.55x	4.32x	3.28x	-
Net Debt / EBITDA	5.53x	5.04x	3.56x	7.76x	3.89x	4.12x	3.44x	4.23x	3.21x	-
Interest Coverage	2.48x	2.15x	3.43x	2.15x	4.10x	4.15x	3.89x	1.58x	2.86x	-
Total Equity+	284.35M	1.58B	1.87B	2.05B	2.54B	2.86B	2.77B	2.31B	2.27B	0
Equity Growth %	229.22%	456.11%	18.19%	9.87%	23.54%	12.64%	-3.1%	-16.47%	-1.95%	-100%
Book Value per Share	8.98	34.56	39.42	42.85	54.30	64.97	68.90	64.55	69.15	-
Total Shareholders' Equity	169.14M	1.57B	1.85B	2.03B	2.52B	2.85B	2.74B	2.3B	2.26B	0
Common Stock	316K	473K	473K	473K	473K	500K	0	0	0	0
Retained Earnings	-176.58M	299.52M	620.37M	778.83M	1.49B	2.2B	3.03B	3.19B	3.67B	0
Treasury Stock	-41.51M	-78.06M	-105.69M	-121.39M	-367.13M	-807M	-1.61B	-2.17B	-2.72B	0
Accumulated OCI	-287.27M	6.14M	-14.32M	19.85M	34.51M	141.6M	27M	1M	-1M	0
Minority Interest	115.21M	10.7M	16.21M	22M	18.48M	7.1M	28M	14M	11M	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	284.25M	109.09M	736.87M	417.47M	1.25B	1.22B	1.4B	999M	1.25B	891M
Operating CF Margin %	25.77%	4.49%	26.63%	13.74%	27.86%	26.14%	26.92%	20.25%	23.12%	18%
Operating CF Growth %	38.45%	-61.62%	575.46%	-43.35%	200.43%	-3.13%	15.47%	-28.8%	25.13%	-28.72%
Net Income	93.1M	475.33M	388.26M	236.29M	808.1M	830M	943M	270M	683M	362M
Depreciation & Amortization	120.33M	323.07M	320.54M	408.71M	564.9M	589M	662M	941M	808M	592M
Stock-Based Compensation	11.39M	24.07M	31.26M	38.62M	48.3M	47M	62M	60M	78M	58M
Deferred Taxes	54.59M	-463.19M	12.4M	-4.54M	-43.6M	5M	-103M	-77M	-33M	-20M
Other Non-Cash Items	4.95M	-49.17M	-33.06M	-167.54M	-41.5M	-43M	-47M	-204M	-235M	-49M
Working Capital Changes	-110K	-201.02M	17.46M	-94.07M	-82M	-213M	-114M	9M	-51M	-52M
Change in Receivables	-27.29M	-56.67M	30.87M	2.18M	14M	-109M	-12M	-13M	68M	15M
Change in Inventory	0	0	0	0	0	0	0	0	0	0
Change in Payables	1.63M	-62.5M	16.52M	49.9M	53.7M	28M	-50M	32M	-98M	-30M
Cash from Investing+	-135.12M	-2.07B	-175.51M	-4.7B	-39.8M	-232M	125M	-173M	-102M	-173M
Capital Expenditures	-31.87M	-72.46M	-106.25M	-197.51M	-217M	-151M	-157M	-149M	-145M	-148M
CapEx % of Revenue	2.89%	2.98%	3.84%	6.5%	4.82%	3.25%	3.01%	3.02%	2.68%	2.99%
Acquisitions	-103.97M	-2.49B	-103.98M	-4.53B	-23.6M	-138M	29M	-38M	0	-22M
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	718K	499.48M	34.71M	28.59M	207.8M	57M	253M	14M	3M	-3M
Cash from Financing+	822.93M	1.06B	-531.89M	4.39B	-1.29B	-945M	-1.51B	-899M	-1.15B	-582M
Debt Issued (Net)	874.6M	1.6B	-410.47M	4.62B	-857.2M	-269M	-480M	-125M	-327M	-175M
Equity Issued (Net)	0	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K
Dividends Paid	-29.45M	-55.89M	-68.63M	-82.82M	-101M	-118M	-142M	-191M	-219M	-169M
Share Repurchases	0	-99.01M	-50.52M	-45.12M	-281.9M	-537M	-881M	-605M	-601M	-120M
Other Financing	-22.23M	-392.29M	-2.27M	-104.24M	-53.7M	-21M	-12M	22M	-4M	-118M
Net Change in Cash	972.06M	-899.83M	29.46M	103.56M	-79.4M	38M	13M	-73M	-3M	136M
Free Cash Flow+	252.38M	36.63M	630.62M	219.96M	1.04B	1.06B	1.25B	850M	1.1B	743M
FCF Margin %	22.88%	1.51%	22.79%	7.24%	23.04%	22.89%	23.91%	17.23%	20.44%	15.01%
FCF Growth %	43.17%	-85.49%	1621.6%	-65.12%	371.55%	2.58%	17.11%	-31.78%	30%	-32.76%
FCF per Share	7.97	0.80	13.30	4.59	22.20	24.19	31.01	23.72	33.69	24.20
FCF Conversion (FCF/Net Income)	3.11x	0.23x	1.89x	1.81x	1.55x	1.46x	1.44x	2.89x	1.73x	8.17x
Interest Paid	78.26M	239.56M	218.75M	250.66M	324.3M	273M	330M	437M	431M	328M
Taxes Paid	29.39M	272.69M	90.72M	315.05M	351.7M	320M	370M	169M	254M	175M

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	49.38%	50.92%	22.58%	11.74%	35.36%	30.92%	34.52%	13.62%	31.52%	-
Return on Invested Capital (ROIC)	10.62%	9.3%	9.86%	6.13%	10.11%	8.72%	9.99%	5.63%	10.43%	19.1%
Gross Margin	62.23%	57.4%	59.59%	55.63%	61.78%	59.94%	61.52%	56.92%	58.92%	-
Net Margin	8.3%	19.53%	14.08%	7.58%	18.03%	17.94%	18.63%	7.01%	13.35%	2.2%
Debt / Equity	8.24x	2.76x	2.13x	4.14x	3.04x	2.61x	2.53x	3.08x	3.00x	-
Interest Coverage	2.48x	2.15x	3.43x	2.15x	4.10x	4.15x	3.89x	1.58x	2.86x	-
FCF Conversion	3.11x	0.23x	1.89x	1.81x	1.55x	1.46x	1.44x	2.89x	1.73x	8.17x
Revenue Growth	23.07%	120.45%	13.76%	9.85%	48.1%	3.26%	12.11%	-5.33%	9.61%	-8.47%

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

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

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

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Peer Comparison

Compare NXST vs Peers

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