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NXST logoNexstar Media Group, Inc.(NXST)Earnings, Financials & Key Ratios

NXST•NASDAQ
$197.21
$6.04B mkt cap·66.4× P/E·Price updated May 6, 2026
SectorCommunication ServicesIndustryEntertainmentSub-IndustryBroadcast 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%
  • EBITDA Margin26.67%-30.5%
  • Operating Margin17.16%-26.8%
  • Net Margin2.2%-83.5%
  • ROIC19.1%+83.1%
Technical→

NXST Key Insights

Nexstar Media Group, Inc. (NXST) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Excellent 3Y average ROE of 22.6%
  • ✓FCF machine: 15.0% free cash flow margin
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Healthy dividend yield of 2.8%
  • ✓Share count reduced 6.4% through buybacks
  • ✓Healthy 5Y average net margin of 11.8%

✗Weaknesses

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

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

NXST Price & Volume

Nexstar Media Group, Inc. (NXST) stock price & volume — 10-year historical chart

Loading chart...

NXST Growth Metrics

Nexstar Media Group, Inc. (NXST) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years18.63%
5 Years1.91%
3 Years-1.7%
TTM-8.44%

Profit CAGR

10 Years3.44%
5 Years-33.07%
3 Years-51.76%
TTM-84.9%

EPS CAGR

10 Years2.17%
5 Years-29.62%
3 Years-50.11%
TTM-86.07%

Return on Capital

10 Years10.56%
5 Years10.65%
3 Years11.04%
Last Year15.29%

NXST Recent Earnings

Nexstar Media Group, Inc. (NXST) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 6/12 qtrs (50%)●Beat Revenue 6/12 qtrs (50%)
Q1 2026Latest
Feb 26, 2026
EPS
$4.30
Est $4.01
+7.2%
Revenue
$1.3B
Est $1.3B
+3.1%
Q4 2025
Nov 6, 2025
EPS
$2.14
Est $2.62
-18.3%
Revenue
$1.2B
Est $1.2B
-4.2%
Q3 2025
Aug 7, 2025
EPS
$3.06
Est $2.95
+3.7%
Revenue
$1.2B
Est $1.2B
+1.4%
Q2 2025
May 8, 2025
EPS
$3.37
Est $3.26
+3.4%
Revenue
$1.2B
Est $1.2B
+0.6%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q1 2026LatestFeb 26, 2026
$4.30vs $4.01+7.2%
$1.3Bvs $1.3B+3.1%
Q4 2025Nov 6, 2025
$2.14vs $2.62-18.3%
$1.2Bvs $1.2B-4.2%
Q3 2025Aug 7, 2025
$3.06vs $2.95+3.7%
$1.2Bvs $1.2B+1.4%
Q2 2025May 8, 2025
$3.37vs $3.26+3.4%
$1.2Bvs $1.2B+0.6%
Based on last 12 quarters of dataView full earnings history →

NXST Peer Comparison

Nexstar Media Group, Inc. (NXST) competitors in Broadcast and Local TV Stations — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
GTN logoGTNGray Media, Inc.Direct Competitor531.56M5.48-6.23-15.07%-2.75%-3.94%34.05%0.03
SSP logoSSPThe E.W. Scripps CompanyDirect Competitor433.08M4.92-2.63-14.31%-7.65%-13.2%0.01
SBGI logoSBGISinclair, Inc.Direct Competitor1.03B14.78-9.18-10.68%-3.53%-34.28%11.13%12.21
TGNA logoTGNATEGNA Inc.Direct Competitor3.23B20.0314.95-12.57%8.07%7.05%8.76%0.82
FOX logoFOXFox CorporationProduct Competitor13.14B55.9111.3916.6%11.41%17%22.78%0.60
FOXA logoFOXAFox CorporationProduct Competitor13.94B62.2312.6716.6%11.41%17%21.47%0.60
WBD logoWBDWarner Bros. Discovery, Inc.Product Competitor73.77B27.24-5.90-4.84%1.28%1.3%6%1.13
CMCSA logoCMCSAComcast CorporationProduct Competitor96.42B26.464.91-0.02%14.85%19.54%22.71%1.13

Compare NXST vs Peers

Nexstar Media Group, Inc. (NXST) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs GTN

Most directly comparable listed peer for NXST.

Scale Benchmark

vs GOOGL

Larger-name benchmark to compare NXST against a more recognizable public peer.

Peer Set

Compare Top 5

vs GTN, SSP, SBGI, TGNA

NXST Income Statement

Nexstar Media Group, Inc. (NXST) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Sales/Revenue2.43B2.77B3.04B4.5B4.65B5.21B4.93B5.41B4.95B
Revenue Growth %120.45%13.76%9.85%48.1%3.26%12.11%-5.33%9.61%-8.47%
Cost of Goods Sold1.04B1.12B1.35B1.72B1.86B2B2.13B2.22B0
COGS % of Revenue42.6%40.41%44.37%38.22%40.06%38.48%43.08%41.08%-
Gross Profit
1.4B▲ 0%
1.65B▲ 18.1%
1.69B▲ 2.5%
2.78B▲ 64.5%
2.79B▲ 0.2%
3.21B▲ 15.1%
2.81B▼ 12.4%
3.19B▲ 13.5%
0▼ 100.0%
Gross Margin %57.4%59.59%55.63%61.78%59.94%61.52%56.92%58.92%-
Gross Profit Growth %103.36%18.1%2.54%64.48%0.19%15.08%-12.41%13.46%-100%
Operating Expenses915.05M900.47M1.04B1.41B1.61B1.89B2.1B1.92B4.1B
OpEx % of Revenue37.63%32.55%34.07%31.22%34.66%36.35%42.57%35.47%82.84%
Selling, General & Admin466.71M469.01M729.98M912.1M1.02B1.1B1.1B1.09B815M
SG&A % of Revenue19.19%16.95%24.02%20.26%22.03%21.07%22.22%20.12%16.47%
Research & Development000000000
R&D % of Revenue---------
Other Operating Expenses-1.28M37.66M305.58M493.3M587M796M1B830M3.29B
Operating Income
518.75M▲ 0%
757.78M▲ 46.1%
655.13M▼ 13.5%
1.38B▲ 109.9%
1.18B▼ 14.6%
1.31B▲ 11.7%
708M▼ 46.0%
1.27B▲ 79.1%
849M▼ 33.0%
Operating Margin %21.33%27.39%21.56%30.56%25.28%25.18%14.35%23.45%17.16%
Operating Income Growth %80.55%46.08%-13.55%109.94%-14.57%11.66%-46.04%79.1%-33.04%
EBITDA841.81M1.08B1.06B1.94B1.76B1.97B1.65B2.08B1.32B
EBITDA Margin %34.61%38.97%35%43.11%37.95%37.88%33.43%38.39%26.67%
EBITDA Growth %106.51%28.09%-1.34%82.39%-9.09%11.9%-16.46%25.89%-36.42%
D&A (Non-Cash Add-back)323.07M320.54M408.71M564.9M589M662M941M808M471M
EBIT482.58M753.94M677.67M1.44B1.38B1.55B848M1.4B0
Net Interest Income-241.19M-220.99M-304.35M-335.3M-283M-337M-447M-444M0
Interest Income000000000
Interest Expense241.19M220.99M304.35M335.3M283M337M447M444M-379M
Other Income/Expense-264.24M-224.83M-281.81M-270.8M-82M-95M-307M-309M-699M
Pretax Income
241.38M▲ 0%
532.95M▲ 120.8%
373.32M▼ 30.0%
1.1B▲ 195.9%
1.09B▼ 1.1%
1.22B▲ 11.3%
401M▼ 67.1%
959M▲ 139.2%
150M▼ 84.4%
Pretax Margin %9.93%19.26%12.28%24.54%23.52%23.35%8.13%17.74%3.03%
Income Tax-233.94M144.68M137.03M296.5M263M274M131M276M-67M
Effective Tax Rate %-96.92%27.15%36.7%26.84%24.06%22.51%32.67%28.78%-44.67%
Net Income
475M▲ 0%
389.48M▼ 18.0%
230.26M▼ 40.9%
811.5M▲ 252.4%
834M▲ 2.8%
971M▲ 16.4%
346M▼ 64.4%
722M▲ 108.7%
109M▼ 84.9%
Net Margin %19.53%14.08%7.58%18.03%17.94%18.63%7.01%13.35%2.2%
Net Income Growth %418.91%-18%-40.88%252.43%2.77%16.43%-64.37%108.67%-84.9%
Net Income (Continuing)475.33M388.26M236.29M808.1M830M943M270M683M109M
Discontinued Operations000000000
Minority Interest10.7M16.21M22M18.48M7.1M28M14M11M0
EPS (Diluted)
10.07▲ 0%
8.21▼ 18.5%
4.80▼ 41.5%
17.37▲ 261.9%
18.98▲ 9.3%
24.16▲ 27.3%
9.66▼ 60.0%
21.41▲ 121.6%
3.00▼ 86.0%
EPS Growth %248.44%-18.47%-41.53%261.88%9.27%27.29%-60.02%121.64%-85.99%
EPS (Basic)10.388.525.0118.0619.8124.689.8021.733.04
Diluted Shares Outstanding45.75M47.41M47.92M46.72M43.98M40.19M35.83M32.8M30.71M
Basic Shares Outstanding45.75M45.72M45.99M44.92M42.13M39.35M35.32M32.31M30.35M
Dividend Payout Ratio11.77%17.62%35.97%12.45%14.15%14.62%55.2%30.33%155.05%

NXST Balance Sheet

Nexstar Media Group, Inc. (NXST) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Total Current Assets1.06B767.08M1.35B1.21B1.41B1.61B1.47B1.3B0
Cash & Short-Term Investments115.65M145.12M232.07M152.7M190.9M204M147M144M0
Cash Only115.65M145.12M232.07M152.7M190.9M204M147M144M0
Short-Term Investments000000000
Accounts Receivable562.94M547.28M883.92M904.8M1.02B1.08B1.09B1.03B0
Days Sales Outstanding84.4972.2106.1573.3780.1875.6581.0269.4-
Inventory71.86M22.67M0000000
Days Inventory Outstanding25.327.4-------
Other Current Assets305.76M52M83.78M16.61M15.63M331M224M125M0
Total Non-Current Assets6.43B6.29B12.64B12.19B11.85B11.06B10.61B10.17B485M
Property, Plant & Equipment734.14M731.54M1.29B1.6B1.51B1.26B1.56B1.21B0
Fixed Asset Turnover3.31x3.78x2.36x2.80x3.07x4.13x3.16x4.48x-
Goodwill2.14B2.17B3B2.98B3.05B2.96B2.95B2.92B14M
Intangible Assets3.35B3.27B6.18B5.85B5.63B5.34B5.05B4.78B471M
Long-Term Investments014M1.48B1.33B1.22B1.12B958M877M0
Other Non-Current Assets199.18M125.27M692.23M422.72M441.5M378M96M389M0
Total Assets
7.48B▲ 0%
7.06B▼ 5.6%
13.99B▲ 98.1%
13.4B▼ 4.2%
13.26B▼ 1.0%
12.68B▼ 4.4%
12.08B▼ 4.7%
11.47B▼ 5.1%
485M▼ 95.8%
Asset Turnover0.33x0.39x0.22x0.34x0.35x0.41x0.41x0.47x10.20x
Asset Growth %152.24%-5.61%98.1%-4.18%-1.04%-4.41%-4.74%-5.05%-95.77%
Total Current Liabilities670.7M404.17M947.56M730.89M787.3M893M961M783M67M
Accounts Payable31.14M67.83M157.37M218.42M248.2M198M235M133M0
Days Payables Outstanding10.9722.1542.5946.3448.6536.0440.3621.86-
Short-Term Debt92.81M96.09M109.31M21.43M47.2M124M124M124M0
Deferred Revenue (Current)215.5M175.9M0000000
Other Current Liabilities501.98M90.97M226.58M146.57M176.5M164M442M169M67M
Current Ratio1.57x1.90x1.43x1.66x1.79x1.81x1.53x1.66x-
Quick Ratio1.47x1.84x1.43x1.66x1.79x1.81x1.53x1.66x-
Cash Conversion Cycle98.8457.46-------
Total Non-Current Liabilities5.23B4.79B10.99B10.14B9.62B9.02B8.8B8.42B0
Long-Term Debt4.27B3.88B8.38B7.65B7.37B6.83B6.71B6.4B0
Capital Lease Obligations000000246M253M0
Deferred Tax Liabilities619.44M633.88M1.71B1.67B1.73B1.61B1.52B1.49B0
Other Non-Current Liabilities340.54M270.08M894.75M815.93M523.3M584M325M278M0
Total Liabilities5.9B5.19B11.94B10.87B10.41B9.91B9.77B9.2B0
Total Debt4.36B3.98B8.49B7.7B7.46B7B7.13B6.81B0
Net Debt4.25B3.84B8.26B7.55B7.27B6.8B6.98B6.67B0
Debt / Equity2.76x2.13x4.14x3.04x2.61x2.53x3.08x3.00x-
Debt / EBITDA5.18x3.69x7.98x3.97x4.23x3.55x4.32x3.28x-
Net Debt / EBITDA5.04x3.56x7.76x3.89x4.12x3.44x4.23x3.21x-
Interest Coverage2.15x3.43x2.15x4.10x4.15x3.89x1.58x2.86x-
Total Equity
1.58B▲ 0%
1.87B▲ 18.2%
2.05B▲ 9.9%
2.54B▲ 23.5%
2.86B▲ 12.6%
2.77B▼ 3.1%
2.31B▼ 16.5%
2.27B▼ 1.9%
0▼ 100.0%
Equity Growth %456.11%18.19%9.87%23.54%12.64%-3.1%-16.47%-1.95%-100%
Book Value per Share34.5639.4242.8554.3064.9768.9064.5569.15-
Total Shareholders' Equity1.57B1.85B2.03B2.52B2.85B2.74B2.3B2.26B0
Common Stock473K473K473K473K500K0000
Retained Earnings299.52M620.37M778.83M1.49B2.2B3.03B3.19B3.67B0
Treasury Stock-78.06M-105.69M-121.39M-367.13M-807M-1.61B-2.17B-2.72B0
Accumulated OCI6.14M-14.32M19.85M34.51M141.6M27M1M-1M0
Minority Interest10.7M16.21M22M18.48M7.1M28M14M11M0

NXST Cash Flow Statement

Nexstar Media Group, Inc. (NXST) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations109.09M736.87M417.47M1.25B1.22B1.4B999M1.25B891M
Operating CF Margin %4.49%26.63%13.74%27.86%26.14%26.92%20.25%23.12%18%
Operating CF Growth %-61.62%575.46%-43.35%200.43%-3.13%15.47%-28.8%25.13%-28.72%
Net Income475.33M388.26M236.29M808.1M830M943M270M683M362M
Depreciation & Amortization323.07M320.54M408.71M564.9M589M662M941M808M592M
Stock-Based Compensation24.07M31.26M38.62M48.3M47M62M60M78M58M
Deferred Taxes-463.19M12.4M-4.54M-43.6M5M-103M-77M-33M-20M
Other Non-Cash Items-49.17M-33.06M-167.54M-41.5M-43M-47M-204M-235M-49M
Working Capital Changes-201.02M17.46M-94.07M-82M-213M-114M9M-51M-52M
Change in Receivables-56.67M30.87M2.18M14M-109M-12M-13M68M15M
Change in Inventory000000000
Change in Payables-62.5M16.52M49.9M53.7M28M-50M32M-98M-30M
Cash from Investing-2.07B-175.51M-4.7B-39.8M-232M125M-173M-102M-173M
Capital Expenditures-72.46M-106.25M-197.51M-217M-151M-157M-149M-145M-148M
CapEx % of Revenue2.98%3.84%6.5%4.82%3.25%3.01%3.02%2.68%2.99%
Acquisitions-2.49B-103.98M-4.53B-23.6M-138M29M-38M0-22M
Investments---------
Other Investing499.48M34.71M28.59M207.8M57M253M14M3M-3M
Cash from Financing1.06B-531.89M4.39B-1.29B-945M-1.51B-899M-1.15B-582M
Debt Issued (Net)1.6B-410.47M4.62B-857.2M-269M-480M-125M-327M-175M
Equity Issued (Net)-1000K-1000K-1000K-1000K-1000K-1000K-1000K-1000K-1000K
Dividends Paid-55.89M-68.63M-82.82M-101M-118M-142M-191M-219M-169M
Share Repurchases-99.01M-50.52M-45.12M-281.9M-537M-881M-605M-601M-120M
Other Financing-392.29M-2.27M-104.24M-53.7M-21M-12M22M-4M-118M
Net Change in Cash
-899.83M▲ 0%
29.46M▲ 103.3%
103.56M▲ 251.5%
-79.4M▼ 176.7%
38M▲ 147.9%
13M▼ 65.8%
-73M▼ 661.5%
-3M▲ 95.9%
136M▲ 4633.3%
Free Cash Flow
36.63M▲ 0%
630.62M▲ 1621.6%
219.96M▼ 65.1%
1.04B▲ 371.5%
1.06B▲ 2.6%
1.25B▲ 17.1%
850M▼ 31.8%
1.1B▲ 30.0%
743M▼ 32.8%
FCF Margin %1.51%22.79%7.24%23.04%22.89%23.91%17.23%20.44%15.01%
FCF Growth %-85.49%1621.6%-65.12%371.55%2.58%17.11%-31.78%30%-32.76%
FCF per Share0.8013.304.5922.2024.1931.0123.7233.6924.20
FCF Conversion (FCF/Net Income)0.23x1.89x1.81x1.55x1.46x1.44x2.89x1.73x8.17x
Interest Paid239.56M218.75M250.66M324.3M273M330M437M431M328M
Taxes Paid272.69M90.72M315.05M351.7M320M370M169M254M175M

NXST Key Ratios

Nexstar Media Group, Inc. (NXST) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
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 Margin62.23%57.4%59.59%55.63%61.78%59.94%61.52%56.92%58.92%-
Net Margin8.3%19.53%14.08%7.58%18.03%17.94%18.63%7.01%13.35%2.2%
Debt / Equity8.24x2.76x2.13x4.14x3.04x2.61x2.53x3.08x3.00x-
Interest Coverage2.48x2.15x3.43x2.15x4.10x4.15x3.89x1.58x2.86x-
FCF Conversion3.11x0.23x1.89x1.81x1.55x1.46x1.44x2.89x1.73x8.17x
Revenue Growth23.07%120.45%13.76%9.85%48.1%3.26%12.11%-5.33%9.61%-8.47%

NXST SEC Filings & Documents

Nexstar Media Group, Inc. (NXST) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 2, 2026·SEC

Material company update

Mar 30, 2026·SEC

Material company update

Mar 20, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 27, 2026·SEC

FY 2025

Feb 27, 2025·SEC

10-Q Quarterly Reports

3
FY 2025

Nov 6, 2025·SEC

FY 2025

Aug 8, 2025·SEC

FY 2025

May 8, 2025·SEC

NXST Frequently Asked Questions

Nexstar Media Group, Inc. (NXST) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Nexstar Media Group, Inc. (NXST) reported $4.95B in revenue for fiscal year 2025. This represents a 3044% increase from $157.5M in 1999.

Nexstar Media Group, Inc. (NXST) saw revenue decline by 8.5% over the past year.

Yes, Nexstar Media Group, Inc. (NXST) is profitable, generating $109.0M in net income for fiscal year 2025 (2.2% net margin).

Dividend & Returns

Yes, Nexstar Media Group, Inc. (NXST) pays a dividend with a yield of 2.76%. This makes it attractive for income-focused investors.

Nexstar Media Group, Inc. (NXST) generated $743.0M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

Explore More NXST

Nexstar Media Group, Inc. (NXST) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

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Valuation

DCF intrinsic value, peer multiples & estimates

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