NXST · Nexstar Media Group, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $4.95B | $5.41B | $4.93B | $5.21B | $4.65B | $4.50B |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - |
| SG&A | $1.06B | $1.09B | $1.10B | $1.10B | $1.02B | $912.06M |
| Total Operating Expenses | $4.10B | $4.14B | $4.22B | $3.90B | $3.47B | $3.13B |
| D&A | $471.00M | $808.00M | $941.00M | $564.90M | $427.40M | $147.69M |
| Operating Income | $849.00M | $1.27B | $708.00M | $1.31B | $1.18B | $1.38B |
| Interest Expense | - | - | - | - | - | - |
| Income Tax | $67.00M | $276.00M | $131.00M | $273.60M | $262.88M | $296.51M |
| Net Income | $109.00M | $722.00M | $346.00M | $971.10M | $834.57M | $811.44M |
| EPS - Basic | $3.04 | $21.73 | $9.78 | $24.68 | $19.81 | $18.06 |
| EPS - Diluted | $3.00 | $21.41 | $9.64 | $24.16 | $18.98 | $17.37 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $280.00M | $144.00M | $135.00M | $204.10M | $190.87M | $152.70M |
| Accounts Receivable | $1.07B | $1.03B | $1.09B | $1.08B | $1.02B | $904.80M |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | $133.00M | $133.00M | $235.00M | $197.70M | $248.18M | $218.42M |
| Current Assets | $1.47B | $1.30B | $1.47B | $1.61B | $1.41B | $1.21B |
| Total Assets | $10.85B | $11.47B | $12.08B | $12.68B | $13.26B | $13.40B |
| Current Liabilities | $711.00M | $783.00M | $961.00M | $893.20M | $787.29M | $730.89M |
| Long-term Debt | $6.22B | $6.40B | $6.71B | $6.83B | $7.37B | $7.65B |
| Total Liabilities | $8.78B | $9.20B | $9.77B | $9.91B | $10.41B | $10.87B |
| Stockholders' Equity | $2.06B | $2.26B | $2.30B | $2.74B | $2.85B | $2.52B |
| Retained Earnings | $3.54B | $3.67B | $3.19B | $3.03B | $2.20B | $1.49B |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $891.00M | $1.25B | $999.00M | $1.40B | $1.21B | $1.25B |
| Investing Cash Flow | ($173.00M) | ($102.00M) | ($173.00M) | $125.20M | ($232.10M) | ($39.75M) |
| Financing Cash Flow | ($582.00M) | ($1.15B) | ($899.00M) | ($1.51B) | ($945.56M) | ($1.29B) |
| CapEx | $148.00M | $145.00M | $149.00M | $157.30M | $150.76M | $217.04M |
| Free Cash Flow | $743.00M | $1.10B | $850.00M | $1.25B | $1.06B | $1.04B |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | 17.2% | 23.5% | 14.4% | 25.2% | 25.3% | 30.6% |
| EBITDA margin | 26.7% | 38.4% | 33.4% | 36.0% | 34.5% | 33.8% |
| Net margin | 2.2% | 13.4% | 7.0% | 18.6% | 18.0% | 18.0% |
| Free cash flow margin | 15.0% | 20.4% | 17.2% | 23.9% | 22.9% | 23.0% |
| FCF / Net income | 6.82 | 1.53 | 2.46 | 1.28 | 1.28 | 1.28 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 21.5% | 20.1% | 22.2% | 21.1% | 22.0% | 20.3% |
| Effective tax rate | 38.1% | 27.7% | 27.5% | 22.0% | 24.0% | 26.8% |
| Return on assets | 1.0% | 6.3% | 2.9% | 7.7% | 6.3% | 6.1% |
| Return on equity | 5.3% | 32.0% | 15.1% | 35.4% | 29.3% | 32.2% |
| Return on invested capital | 6.3% | 10.6% | 5.7% | 10.7% | 8.7% | 9.9% |
| Liquidity | ||||||
| Current ratio | 2.07 | 1.66 | 1.53 | 1.81 | 1.79 | 1.66 |
| Quick ratio | 2.07 | 1.66 | 1.53 | 1.81 | 1.79 | 1.66 |
| Cash ratio | 0.39 | 0.18 | 0.14 | 0.23 | 0.24 | 0.21 |
| Leverage | ||||||
| Debt / Equity | 3.01 | 2.84 | 2.92 | 2.49 | 2.58 | 3.04 |
| Debt / Assets | 0.57 | 0.56 | 0.56 | 0.54 | 0.56 | 0.57 |
| Debt / EBITDA | 4.71 | 3.08 | 4.07 | 3.64 | 4.60 | 5.02 |
| Interest coverage | - | - | - | - | - | - |
| Equity multiplier | 5.25 | 5.08 | 5.25 | 4.63 | 4.65 | 5.32 |
| Liabilities / Assets | 0.81 | 0.80 | 0.81 | 0.78 | 0.78 | 0.81 |
| Efficiency | ||||||
| Asset turnover | 0.46 | 0.47 | 0.41 | 0.41 | 0.35 | 0.34 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 79d | 69d | 81d | 76d | 80d | 73d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 67.7x | 7.4x | 16.3x | 7.2x | 8.0x | 6.3x |
| P / B | 3.0x | 2.3x | 2.4x | 2.6x | 2.3x | 2.0x |
| P / S | 1.3x | 1.0x | 1.1x | 1.3x | 1.4x | 1.1x |
| EV / EBITDA | 9.2x | 5.5x | 7.4x | 7.3x | 8.6x | 8.3x |
| Growth | ||||||
| Revenue growth (YoY) | -8.5% | 9.6% | -5.3% | 12.1% | 3.3% | 85.1% |
| Revenue CAGR (3y) | -1.7% | 5.2% | 3.1% | 28.9% | - | 22.8% |
| Revenue CAGR (5y) | 1.9% | 17.3% | - | 16.5% | 33.3% | 38.1% |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | -33.0% | 79.1% | -46.0% | 11.6% | -14.5% | 109.9% |
| Net income growth (YoY) | -84.9% | 108.7% | -64.4% | 16.4% | 2.9% | 252.4% |
| EPS growth (YoY) | -86.0% | 122.1% | -60.1% | 27.3% | 9.3% | 261.9% |
| EPS CAGR (3y) | -50.1% | 4.1% | -17.8% | 71.4% | 32.2% | 19.9% |
| EPS CAGR (5y) | -29.6% | 34.9% | 3.3% | 19.1% | 45.7% | 48.3% |
| FCF growth (YoY) | -32.8% | 30.0% | -31.8% | 17.1% | 2.6% | 371.5% |
| FCF CAGR (5y) | -6.5% | 38.1% | 36.7% | 80.9% | 37.6% | 43.9% |
| Book value growth (YoY) | -8.6% | -1.8% | -16.1% | -3.8% | 13.2% | 24.0% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$5.01B totalReportable Broadcast Segment$4.66B · 92.9%
All Other Segments$346.00M · 6.9%
Corporate$10.00M · 0.2%
Product / service
$4.66B totalDistribution Service$2.86B · 61.5%
Advertising$1.75B · 37.6%
Other$42.00M · 0.9%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
1.12
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
6/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✓Long-term debt decreased
- ✓Current ratio improved
- ✓No share dilution
- -Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Television Broadcasting Stations
| Company | Revenue (last FY) | Net margin | ROE |
|---|---|---|---|
| PARAA,PARA | - | - | - |
| LSXMA | $4.48B | 12.4% | 7.2% |
| SSP | $2.15B | 6.8% | 11.7% |
| GTN | $3.10B | -2.7% | -3.9% |
| TGNA | $2.71B | 8.1% | 7.0% |
Comparing NEXSTAR MEDIA GROUP against the 5 most active filers in the same SIC group.
Dividends
$7.44/share trailing 12 months · +4.8% YoY
| Ex-date | Per share |
|---|---|
| May 15, 2026 | $1.8600 |
| Feb 13, 2026 | $1.8600 |
| Nov 12, 2025 | $1.8600 |
| Aug 15, 2025 | $1.8600 |
| May 19, 2025 | $1.8600 |
| Feb 12, 2025 | $1.8600 |
| Nov 15, 2024 | $1.6900 |
| Aug 9, 2024 | $1.6900 |
| May 9, 2024 | $1.6900 |
| Feb 8, 2024 | $1.6900 |
| Nov 9, 2023 | $1.3500 |
| Aug 9, 2023 | $1.3500 |
| May 11, 2023 | $1.3500 |
| Feb 9, 2023 | $1.3500 |
| Nov 10, 2022 | $0.9000 |
| Aug 10, 2022 | $0.9000 |
| May 12, 2022 | $0.9000 |
| Feb 10, 2022 | $0.9000 |
| Nov 10, 2021 | $0.7000 |
| Aug 12, 2021 | $0.7000 |
| May 13, 2021 | $0.7000 |
| Feb 11, 2021 | $0.7000 |
| Nov 5, 2020 | $0.5600 |
| Aug 6, 2020 | $0.5600 |