Nexstar Media Group (NXST) Financials

$196.54 +1.15 (+0.59%)

Closing price 05/18/2026 04:00 PM Eastern

Extended Trading

$196.57 +0.03 (+0.01%)

As of 05/18/2026 06:45 PM Eastern

Annual Income Statements for Nexstar Media Group

This table shows Nexstar Media Group's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	78	92	475	389	230	812	834	971	346	722	109
Consolidated Net Income / (Loss)	76	93	475	388	236	808	830	943	270	683	83
Net Income / (Loss) Continuing Operations	76	93	475	388	236	808	830	943	270	683	83
Total Pre-Tax Income	125	171	241	533	373	1,105	1,093	1,217	401	959	150
Total Operating Income	206	287	506	758	655	1,375	1,175	1,312	708	1,268	849
Total Gross Profit	896	1,103	2,432	2,767	3,039	4,501	4,648	5,211	4,933	5,407	4,949
Total Revenue	896	1,103	2,432	2,767	3,039	4,501	4,648	5,211	4,933	5,407	4,949
Operating Revenue	896	1,103	2,432	2,767	3,039	4,501	4,648	5,211	4,933	5,407	4,949
Total Cost of Revenue	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Operating Expenses	690	816	1,926	2,009	2,384	3,133	3,473	3,899	4,225	4,139	4,100
Selling, General & Admin Expense	232	264	605	580	730	912	1,024	1,098	1,098	1,088	1,063
Depreciation Expense	47	51	101	110	123	565	589	662	488	484	471
Amortization Expense	108	104	265	211	285	-	-	-	453	324	314
Other Operating Expenses / (Income)	302	382	993	1,089	1,278	1,667	1,837	2,006	2,151	2,219	2,238
Impairment Charge	-	15	20	20	63	0.00	23	133	35	24	14
Other Special Charges / (Income)	-	-	-58	0.00	-96	-11	-	-	0.00	-	0.00
Total Other Income / (Expense), net	-81	-117	-264	-225	-282	-271	-82	-95	-307	-309	-699
Interest Expense	81	116	276	233	315	386	286	337	447	444	379
Interest & Investment Income	-	-	-1.27	-2.44	18	70	125	153	104	70	-351
Other Income / (Expense), net	-0.52	-0.56	13	11	15	45	79	89	36	65	31
Income Tax Expense	49	78	-234	145	137	297	263	274	131	276	67
Net Income / (Loss) Attributable to Noncontrolling Interest	-1.30	1.56	0.33	-1.21	6.04	-3.40	-4.00	-28	-76	-39	-26
Basic Earnings per Share	$2.50	$2.98	$10.38	$8.52	$5.01	$18.06	$19.81	$24.68	$9.78	$21.73	$3.04
Weighted Average Basic Shares Outstanding	31.10M	30.69M	45.75M	45.72M	45.99M	44.92M	42.13M	39.35M	35.32M	32.31M	30.35M
Diluted Earnings per Share	$2.42	$2.89	$10.07	$8.21	$4.80	$17.37	$18.98	$24.16	$9.64	$21.41	$3.00
Weighted Average Diluted Shares Outstanding	32.09M	31.66M	47.15M	47.41M	47.92M	46.72M	43.98M	40.19M	35.83M	32.80M	30.71M
Weighted Average Basic & Diluted Shares Outstanding	31.10M	30.70M	45.80M	45.75M	45.86M	43.38M	41.00M	36.77M	33.43M	30.51M	30.33M
Cash Dividends to Common per Share	$0.76	$0.96	$1.20	$1.50	$1.80	$2.24	$2.80	$3.60	$5.40	$6.76	$7.44

This table shows Nexstar Media Group's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	25	114	175	118	187	242	108	97	70	-166	164
Consolidated Net Income / (Loss)	8.00	99	167	106	180	230	97	91	65	-170	160
Net Income / (Loss) Continuing Operations	8.00	99	167	106	180	230	97	91	65	-170	160
Total Pre-Tax Income	14	147	228	149	244	338	138	130	96	-214	153
Total Operating Income	94	231	275	240	335	418	220	213	175	241	265
Total Gross Profit	1,132	1,304	1,284	1,269	1,366	1,488	1,234	1,229	1,198	1,288	1,396
Total Revenue	1,132	1,304	1,284	1,269	1,366	1,488	1,234	1,229	1,198	1,288	1,396
Operating Revenue	1,132	1,304	1,284	1,269	1,366	1,488	1,234	1,229	1,198	1,288	1,396
Total Cost of Revenue	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Operating Expenses	1,038	1,073	1,009	1,029	1,031	1,070	1,014	1,016	1,023	1,047	1,131
Selling, General & Admin Expense	281	289	272	270	278	270	257	262	271	273	327
Depreciation Expense	220	210	190	208	190	220	117	197	190	-121	121
Amortization Expense	-	-	-	-	-	-	88	-	-	-	72
Other Operating Expenses / (Income)	537	539	547	551	563	556	552	557	562	567	611
Total Other Income / (Expense), net	-80	-84	-47	-91	-91	-80	-82	-83	-79	-455	-112
Interest Expense	113	116	114	113	113	104	97	97	94	91	120
Interest & Investment Income	24	23	19	16	17	18	8.00	11	5.00	-375	4.00
Other Income / (Expense), net	9.00	9.00	48	6.00	5.00	6.00	7.00	3.00	10	11	4.00
Income Tax Expense	6.00	48	61	43	64	108	41	39	31	-44	-7.00
Net Income / (Loss) Attributable to Noncontrolling Interest	17	-49	-8.00	-12	-7.00	-26	-11	-6.00	-5.00	-4.00	-4.00
Basic Earnings per Share	$0.71	$3.36	$5.25	$3.59	$5.34	$7.55	$3.41	$3.09	$2.16	($5.62)	$5.22
Weighted Average Basic Shares Outstanding	34.93M	35.32M	33.45M	32.82M	32.02M	32.31M	30.53M	30.22M	30.32M	30.35M	30.37M
Diluted Earnings per Share	$0.70	$3.33	$5.16	$3.54	$5.27	$7.44	$3.37	$3.06	$2.14	($5.57)	$5.09
Weighted Average Diluted Shares Outstanding	35.37M	35.83M	34.02M	33.29M	32.44M	32.80M	30.93M	30.51M	30.65M	30.71M	31.17M
Weighted Average Basic & Diluted Shares Outstanding	33.93M	33.43M	32.83M	32.26M	31.02M	30.51M	30.15M	30.32M	30.33M	30.33M	30.54M
Cash Dividends to Common per Share	$1.35	-	$1.69	$1.69	$1.69	-	$1.86	$1.86	$1.86	-	$1.86

This table details how cash moves in and out of Nexstar Media Group's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-88	972	-900	29	201	-79	38	13	-73	-3.00	136
Net Cash From Operating Activities	205	284	109	737	417	1,254	1,215	1,403	999	1,250	891
Net Cash From Continuing Operating Activities	205	284	109	737	417	1,254	1,215	1,403	999	1,250	891
Net Income / (Loss) Continuing Operations	76	93	475	388	236	808	830	943	270	683	83
Consolidated Net Income / (Loss)	76	93	475	388	236	808	830	943	270	683	83
Depreciation Expense	47	51	101	110	123	565	589	662	488	484	471
Amortization Expense	74	75	233	221	297	17	15	13	464	336	322
Non-Cash Adjustments To Reconcile Net Income	-5.87	6.66	-32	-9.13	-141	-9.20	-3.00	-8.00	-156	-179	237
Changes in Operating Assets and Liabilities, net	13	59	-668	27	-99	-127	-216	-207	-67	-74	-222
Net Cash From Investing Activities	-474	-135	-2,066	-176	-4,702	-40	-232	125	-173	-102	-173
Net Cash From Continuing Investing Activities	-474	-135	-2,066	-176	-4,604	-40	-232	125	-173	-102	-173
Purchase of Property, Plant & Equipment	-29	-32	-72	-106	-198	-217	-151	-157	-149	-145	-148
Acquisitions	-476	-104	-2,975	-104	-5,886	-386	-138	29	-38	0.00	-22
Sale of Property, Plant & Equipment	3.62	0.72	20	4.34	4.45	2.60	18	241	0.00	0.00	0.00
Sale and/or Maturity of Investments	-	-	-	0.00	2.21	0.00	-	0.00	0.00	40	0.00
Other Investing Activities, net	-	-	479	30	71	149	39	12	14	3.00	-3.00
Net Cash From Financing Activities	181	823	1,057	-532	4,388	-1,294	-945	-1,515	-899	-1,151	-582
Net Cash From Continuing Financing Activities	181	823	1,057	-532	4,397	-1,294	-945	-1,515	-899	-1,151	-582
Repayment of Debt	-173	-101	-1,992	-653	-984	-2,218	-583	-2,968	-146	-388	-3,603
Repurchase of Common Equity	-49	-	-99	-51	-45	-282	-537	-881	-605	-601	-125
Payment of Dividends	-24	-30	-123	-71	-89	-101	-118	-142	-191	-219	-226
Issuance of Debt	422	958	3,534	252	5,524	1,327	321	2,480	20	55	3,393
Issuance of Common Equity	-	-	-	-	-	0.80	0.00	30	62	19	0.00
Other Financing Activities, net	3.46	-4.68	-263	-8.87	-7.41	-20	-28	-34	-39	-17	-21
Cash Interest Paid	70	78	240	219	251	324	273	330	437	431	372
Cash Income Taxes Paid	29	29	273	91	315	352	320	370	169	254	208

This table details how cash moves in and out of Nexstar Media Group's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-196	-17	90	-91	35	-37	109	-19	2.00	44	156
Net Cash From Operating Activities	138	182	276	176	387	411	337	247	117	190	289
Net Cash From Continuing Operating Activities	138	182	276	176	387	411	337	247	117	190	289
Net Income / (Loss) Continuing Operations	8.00	99	167	106	180	230	97	91	65	-170	160
Consolidated Net Income / (Loss)	8.00	99	167	106	180	230	97	91	65	-170	160
Depreciation Expense	220	210	190	208	190	220	117	197	190	-121	121
Amortization Expense	-	3.00	-	-	-	3.00	88	-	1.00	316	72
Non-Cash Adjustments To Reconcile Net Income	-104	-55	3.00	-67	-68	-47	44	-55	-73	321	38
Changes in Operating Assets and Liabilities, net	6.00	-75	-84	-71	76	5.00	-9.00	9.00	-66	-156	-102
Net Cash From Investing Activities	-64	-36	-4.00	-35	-29	-34	-61	-28	-29	-55	-3,313
Net Cash From Continuing Investing Activities	-64	-36	-4.00	-35	-29	-34	-61	-28	-29	-55	-3,313
Purchase of Property, Plant & Equipment	-36	-36	-44	-37	-29	-35	-35	-29	-30	-54	-22
Acquisitions	-	-	0.00	-	-	-	-22	-	-	-	-3,341
Other Investing Activities, net	10	-8.00	0.00	-	-	-4.00	-4.00	1.00	1.00	-1.00	50
Net Cash From Financing Activities	-270	-163	-182	-232	-323	-414	-167	-238	-86	-91	3,180
Net Cash From Continuing Financing Activities	-270	-163	-182	-232	-323	-414	-167	-238	-86	-91	3,180
Repayment of Debt	-31	-55	-88	-29	-84	-188	-35	-3,510	-31	-27	-6,127
Repurchase of Common Equity	-194	-96	-111	-135	-177	-178	-75	-50	-	-	0.00
Payment of Dividends	-47	-46	-57	-55	-55	-52	-57	-56	-56	-57	-56
Issuance of Debt	-	20	55	-	-	-	0.00	3,393	-	-	9,381
Other Financing Activities, net	-9.00	-1.00	0.00	-13	-7.00	4.00	0.00	-15	1.00	-7.00	-18
Cash Interest Paid	121	102	121	98	125	87	107	81	106	78	126
Cash Income Taxes Paid	21	27	2.00	175	10	67	0.00	139	34	33	0.00

This table presents Nexstar Media Group's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	1,835	2,966	7,482	7,062	13,990	13,404	13,265	12,679	12,078	11,468	10,846
Total Current Assets	260	363	1,056	767	1,352	1,210	1,413	1,615	1,466	1,297	1,473
Cash & Equivalents	43	88	116	145	232	153	191	204	135	144	280
Restricted Cash	-	27	-	-	17	17	16	16	12	-	0.00
Accounts Receivable	193	218	563	547	884	905	1,021	1,080	1,095	1,028	1,075
Inventories, net	16	-	-	-	-	-	46	194	136	84	61
Prepaid Expenses	7.32	31	72	23	152	136	139	121	88	41	57
Plant, Property, & Equipment, net	267	276	734	732	1,290	1,605	1,513	1,262	1,269	1,207	1,158
Total Noncurrent Assets	1,309	2,327	5,691	5,743	11,348	10,589	10,339	9,802	9,343	8,964	8,215
Long-Term Investments	-	-	-	14	1,477	1,334	1,219	1,119	958	877	396
Goodwill	452	473	2,143	2,168	2,997	2,984	3,052	2,961	2,946	2,922	2,910
Intangible Assets	804	867	3,349	3,180	6,181	5,849	5,627	5,344	5,053	4,776	4,536
Other Noncurrent Operating Assets	53	85	199	201	692	423	442	378	386	389	373
Total Liabilities & Shareholders' Equity	1,835	2,966	7,482	7,062	13,990	13,404	13,265	12,679	12,078	11,468	10,846
Total Liabilities	1,749	2,682	5,900	5,193	11,936	10,867	10,407	9,910	9,765	9,200	8,784
Total Current Liabilities	146	190	671	404	948	731	787	893	961	783	711
Short-Term Debt	22	28	93	96	109	21	47	124	124	124	111
Accounts Payable	26	20	31	68	157	218	248	198	235	133	133
Accrued Expenses	61	71	176	176	423	307	316	319	350	314	314
Other Current Liabilities	26	26	331	64	258	184	176	252	252	212	153
Total Noncurrent Liabilities	1,603	2,492	5,230	4,789	10,989	10,137	9,620	9,017	8,804	8,417	8,073
Long-Term Debt	1,454	2,314	4,270	3,885	8,383	7,647	7,368	6,827	6,713	6,399	6,222
Noncurrent Deferred & Payable Income Tax Liabilities	102	132	619	634	1,711	1,674	1,729	1,606	1,520	1,487	1,354
Other Noncurrent Operating Liabilities	47	46	341	270	895	816	523	584	571	531	497
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	-	-	-	-	-	-	-	0.00	26	19
Total Equity & Noncontrolling Interests	86	284	1,581	1,869	2,053	2,537	2,858	2,769	2,313	2,242	2,043
Total Preferred & Common Equity	81	169	1,571	1,853	2,031	2,518	2,850	2,741	2,299	2,257	2,064
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	80	169	1,570	1,852	2,031	2,518	2,850	2,741	2,299	2,257	2,064
Common Stock	396	387	1,343	1,352	1,354	1,363	1,312	1,288	1,283	1,304	1,331
Retained Earnings	-268	-177	300	620	779	1,488	2,204	3,033	3,188	3,671	3,537
Treasury Stock	-48	-42	-78	-106	-121	-367	-807	-1,607	-2,173	-2,717	-2,789
Accumulated Other Comprehensive Income / (Loss)	-	-	6.14	-14	20	35	142	27	1.00	-1.00	-15
Noncontrolling Interest	5.70	115	11	16	22	18	7.10	28	14	-15	-21

This table presents Nexstar Media Group's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	13,098	12,464	12,310	12,047	11,945	11,819	11,693	11,414	11,328	11,249	18,103
Total Current Assets	1,666	1,698	1,573	1,340	1,494	1,472	1,421	1,402	1,390	1,393	2,282
Cash & Equivalents	347	413	346	150	237	146	181	253	234	236	379
Restricted Cash	16	14	14	14	0.00	0.00	0.00	-	-	-	57
Accounts Receivable	987	1,008	944	891	1,051	1,048	1,016	1,030	1,022	1,013	1,657
Inventories, net	155	183	114	133	148	119	132	70	54	62	78
Prepaid Expenses	162	80	155	152	58	159	92	49	80	82	111
Plant, Property, & Equipment, net	1,491	1,256	1,267	1,279	1,264	1,251	1,233	1,200	1,178	1,162	1,855
Total Noncurrent Assets	9,941	9,510	9,470	9,428	9,187	9,096	9,039	8,812	8,760	8,694	13,966
Long-Term Investments	1,089	919	927	946	859	856	869	775	776	774	367
Goodwill	3,052	2,961	2,961	2,965	2,946	2,946	2,946	2,924	2,924	2,924	5,046
Intangible Assets	5,421	5,271	5,197	5,141	4,981	4,911	4,841	4,727	4,680	4,608	8,092
Other Noncurrent Operating Assets	380	359	385	376	401	383	383	386	380	388	461
Total Liabilities & Shareholders' Equity	13,098	12,464	12,310	12,047	11,945	11,819	11,693	11,414	11,328	11,249	18,103
Total Liabilities	10,150	9,811	9,747	9,701	9,599	9,539	9,452	9,164	9,072	8,965	15,935
Total Current Liabilities	915	864	836	852	831	828	846	805	823	745	1,299
Short-Term Debt	124	124	124	124	124	124	124	124	108	111	274
Accounts Payable	166	207	127	142	115	133	132	113	190	100	200
Accrued Expenses	345	305	333	322	315	348	333	300	332	353	591
Other Current Liabilities	210	228	252	264	277	223	257	268	193	181	234
Total Noncurrent Liabilities	9,235	8,947	8,911	8,849	8,768	8,711	8,606	8,359	8,249	8,220	14,636
Long-Term Debt	7,053	6,799	6,771	6,742	6,686	6,657	6,576	6,371	6,275	6,248	11,878
Noncurrent Deferred & Payable Income Tax Liabilities	1,715	1,593	1,586	1,569	1,508	1,506	1,494	1,471	1,463	1,467	2,141
Other Noncurrent Operating Liabilities	467	555	554	538	574	548	536	517	511	505	617
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	-	-	-	-	-	37	19	18	17	22
Total Equity & Noncontrolling Interests	2,948	2,653	2,563	2,346	2,346	2,280	2,204	2,231	2,238	2,267	2,146
Total Preferred & Common Equity	2,926	2,624	2,543	2,332	2,321	2,267	2,219	2,247	2,256	2,286	2,168
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	2,926	2,624	2,543	2,332	2,321	2,267	2,219	2,247	2,256	2,286	2,168
Common Stock	1,271	1,275	1,263	1,269	1,290	1,281	1,292	1,304	1,293	1,312	1,307
Retained Earnings	2,864	3,094	3,142	3,120	3,306	3,369	3,485	3,718	3,755	3,765	3,639
Treasury Stock	-1,350	-1,772	-1,889	-2,084	-2,276	-2,384	-2,559	-2,774	-2,791	-2,790	-2,763
Accumulated Other Comprehensive Income / (Loss)	141	27	27	27	1.00	1.00	1.00	-1.00	-1.00	-1.00	-15
Noncontrolling Interest	22	29	20	14	25	13	-15	-16	-18	-19	-22

This table displays calculated financial ratios and metrics derived from Nexstar Media Group's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	41.99%	23.07%	120.45%	13.76%	9.85%	48.10%	3.26%	12.11%	-5.33%	9.61%	-8.47%
EBITDA Growth	32.38%	26.14%	106.50%	28.92%	-0.77%	83.66%	-7.22%	11.73%	-18.30%	26.95%	-22.29%
EBIT Growth	19.06%	39.48%	80.90%	48.15%	-12.81%	111.99%	-11.72%	11.72%	-46.90%	79.17%	-33.98%
NOPAT Growth	24.55%	24.51%	535.30%	-44.55%	-24.89%	142.65%	-11.32%	13.94%	-53.11%	89.44%	-47.98%
Net Income Growth	18.33%	21.89%	410.56%	-18.32%	-39.14%	241.99%	2.71%	13.61%	-71.37%	152.96%	-87.85%
EPS Growth	19.80%	19.42%	248.44%	-18.47%	-41.53%	261.88%	9.27%	27.29%	-60.10%	122.10%	-85.99%
Operating Cash Flow Growth	23.29%	38.45%	-61.62%	575.46%	-43.35%	200.43%	-3.13%	15.47%	-28.80%	25.13%	-28.72%
Free Cash Flow Firm Growth	-878.88%	112.31%	-10,360.12%	122.66%	-472.44%	141.42%	-33.59%	98.58%	-45.20%	44.96%	-55.79%
Invested Capital Growth	33.10%	8.19%	254.44%	-3.01%	54.99%	-1.34%	1.67%	-5.27%	-4.01%	-3.42%	-0.66%
Revenue Q/Q Growth	7.10%	5.51%	16.46%	5.50%	11.04%	6.55%	-2.74%	4.86%	-3.58%	3.52%	-3.88%
EBITDA Q/Q Growth	3.56%	6.47%	13.39%	14.25%	6.85%	14.82%	-8.81%	1.41%	-5.04%	9.90%	-10.68%
EBIT Q/Q Growth	-0.75%	9.60%	10.59%	21.13%	-1.51%	24.36%	-13.12%	-3.36%	-8.49%	16.01%	-16.35%
NOPAT Q/Q Growth	-0.40%	1.72%	274.20%	-41.06%	-6.74%	27.54%	-12.78%	-4.25%	-11.23%	16.23%	-33.45%
Net Income Q/Q Growth	-4.30%	-7.00%	310.18%	-36.73%	-14.67%	44.56%	-10.85%	-8.26%	-22.41%	23.73%	-82.82%
EPS Q/Q Growth	-4.72%	-6.77%	278.57%	-37.04%	-15.19%	46.34%	-8.26%	-3.36%	-17.04%	23.76%	-81.26%
Operating Cash Flow Q/Q Growth	10.06%	17.91%	-36.20%	38.21%	-26.20%	28.11%	-3.44%	-7.60%	-3.48%	22.43%	-19.87%
Free Cash Flow Firm Q/Q Growth	28.87%	279.02%	8.20%	19.93%	-13.18%	7.62%	16.80%	27.00%	-26.76%	19.24%	-45.97%
Invested Capital Q/Q Growth	-0.60%	-3.24%	7.06%	-2.05%	1.93%	3.63%	0.76%	-3.39%	-0.70%	-1.53%	1.13%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	36.50%	37.41%	35.04%	39.72%	35.87%	44.49%	39.97%	39.84%	34.38%	39.82%	33.80%
Operating Margin	22.99%	26.04%	20.79%	27.39%	21.56%	30.56%	25.28%	25.18%	14.35%	23.45%	17.16%
EBIT Margin	22.94%	25.99%	21.33%	27.78%	22.05%	31.56%	26.98%	26.89%	15.08%	24.65%	17.78%
Profit (Net Income) Margin	8.52%	8.44%	19.55%	14.03%	7.77%	17.95%	17.86%	18.10%	5.47%	12.63%	1.68%
Tax Burden Percent	61.07%	54.55%	196.92%	72.85%	63.30%	73.16%	75.94%	77.49%	67.33%	71.22%	55.33%
Interest Burden Percent	60.83%	59.52%	46.53%	69.35%	55.72%	77.77%	87.16%	86.87%	53.90%	71.94%	17.05%
Effective Tax Rate	38.93%	45.45%	-96.92%	27.15%	36.70%	26.84%	24.06%	22.51%	32.67%	28.78%	44.67%
Return on Invested Capital (ROIC)	9.39%	9.84%	26.47%	9.55%	5.72%	11.49%	10.17%	11.80%	5.80%	11.42%	6.07%
ROIC Less NNEP Spread (ROIC-NNEP)	5.49%	5.32%	8.07%	5.51%	2.35%	8.42%	9.14%	10.53%	2.16%	7.50%	-0.87%
Return on Net Nonoperating Assets (RNNOA)	97.50%	40.39%	24.49%	12.95%	6.33%	23.72%	20.60%	21.72%	4.82%	18.40%	-2.23%
Return on Equity (ROE)	106.90%	50.23%	50.96%	22.51%	12.05%	35.21%	30.77%	33.52%	10.63%	29.82%	3.83%
Cash Return on Invested Capital (CROIC)	-19.01%	1.97%	-85.51%	12.61%	-37.41%	12.84%	8.51%	17.21%	9.90%	14.90%	6.72%
Operating Return on Assets (OROA)	12.65%	11.95%	9.93%	10.57%	6.37%	10.37%	9.40%	10.80%	6.01%	11.32%	7.89%
Return on Assets (ROA)	4.70%	3.88%	9.10%	5.34%	2.24%	5.90%	6.22%	7.27%	2.18%	5.80%	0.74%
Return on Common Equity (ROCE)	99.41%	33.76%	47.49%	22.32%	11.93%	34.89%	30.62%	33.31%	10.54%	29.66%	3.83%
Return on Equity Simple (ROE_SIMPLE)	94.68%	55.04%	30.26%	20.96%	11.63%	32.09%	29.12%	34.40%	11.74%	30.26%	0.00%
Net Operating Profit after Tax (NOPAT)	126	157	996	552	415	1,006	892	1,017	477	903	470
NOPAT Margin	14.04%	14.21%	40.94%	19.95%	13.64%	22.35%	19.20%	19.51%	9.66%	16.70%	9.49%
Net Nonoperating Expense Percent (NNEP)	3.90%	4.52%	18.39%	4.04%	3.37%	3.06%	1.02%	1.27%	3.64%	3.92%	6.93%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	10.46%	5.21%	10.30%	5.61%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	25.94%	23.89%	24.88%	20.96%	24.02%	20.26%	22.03%	21.07%	22.26%	20.12%	21.48%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	77.01%	73.96%	79.21%	72.61%	78.44%	69.60%	74.72%	74.82%	85.65%	76.55%	82.85%
Earnings before Interest and Taxes (EBIT)	206	287	519	768	670	1,420	1,254	1,401	744	1,333	880
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	327	413	852	1,099	1,090	2,003	1,858	2,076	1,696	2,153	1,673
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	18.06	9.49	1.91	1.66	2.33	1.71	1.96	2.21	2.19	2.14	2.96
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.62	1.45	1.23	1.11	1.56	0.96	1.20	1.16	1.02	0.90	1.23
Price to Earnings (P/E)	18.68	17.51	6.30	7.90	20.53	5.32	6.69	6.24	14.57	6.71	56.05
Dividend Yield	1.60%	1.84%	1.83%	2.22%	2.12%	2.29%	2.05%	2.80%	3.63%	4.33%	3.69%
Earnings Yield	5.35%	5.71%	15.87%	12.66%	4.87%	18.81%	14.94%	16.03%	6.86%	14.91%	1.78%
Enterprise Value to Invested Capital (EV/IC)	1.89	2.38	1.24	1.22	1.31	1.21	1.31	1.40	1.34	1.33	1.52
Enterprise Value to Revenue (EV/Rev)	3.22	3.58	2.98	2.50	3.79	2.33	2.49	2.24	2.19	1.91	2.38
Enterprise Value to EBITDA (EV/EBITDA)	8.83	9.56	8.51	6.29	10.56	5.24	6.23	5.63	6.36	4.81	7.03
Enterprise Value to EBIT (EV/EBIT)	14.06	13.76	13.98	9.00	17.19	7.39	9.23	8.35	14.50	7.77	13.37
Enterprise Value to NOPAT (EV/NOPAT)	22.96	25.18	7.28	12.52	27.77	10.43	12.98	11.51	22.63	11.47	25.04
Enterprise Value to Operating Cash Flow (EV/OCF)	14.08	13.88	66.47	9.38	27.59	8.37	9.53	8.34	10.80	8.28	13.20
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	125.86	0.00	9.49	0.00	9.33	15.51	7.89	13.27	8.79	22.59
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	17.09	8.24	2.76	2.13	4.14	3.02	2.60	2.51	2.96	2.88	3.07
Long-Term Debt to Equity	16.83	8.14	2.70	2.08	4.08	3.01	2.58	2.47	2.90	2.82	3.02
Financial Leverage	17.75	7.59	3.03	2.35	2.70	2.82	2.25	2.06	2.23	2.45	2.58
Leverage Ratio	22.74	12.95	5.60	4.22	5.37	5.97	4.94	4.61	4.87	5.14	5.15
Compound Leverage Factor	13.83	7.71	2.61	2.92	2.99	4.64	4.31	4.01	2.63	3.70	0.88
Debt to Total Capital	94.47%	89.17%	73.40%	68.05%	80.53%	75.14%	72.18%	71.51%	74.72%	74.20%	75.44%
Short-Term Debt to Total Capital	1.42%	1.07%	1.56%	1.64%	1.04%	0.21%	0.46%	1.28%	1.36%	1.41%	1.32%
Long-Term Debt to Total Capital	93.06%	88.11%	71.83%	66.41%	79.49%	74.93%	71.72%	70.24%	73.37%	72.79%	74.12%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.36%	4.39%	0.18%	0.28%	0.21%	0.18%	0.07%	0.29%	0.15%	0.13%	-0.02%
Common Equity to Total Capital	5.14%	6.43%	26.42%	31.66%	19.26%	24.67%	27.75%	28.20%	25.13%	25.67%	24.59%
Debt to EBITDA	4.51	5.68	5.12	3.62	7.79	3.83	3.99	3.35	4.03	3.03	3.79
Net Debt to EBITDA	4.38	5.40	4.98	3.48	6.21	3.08	3.22	2.70	3.38	2.56	3.38
Long-Term Debt to EBITDA	4.44	5.61	5.01	3.54	7.69	3.82	3.97	3.29	3.96	2.97	3.72
Debt to NOPAT	11.73	14.95	4.38	7.21	20.48	7.62	8.31	6.84	14.34	7.22	13.48
Net Debt to NOPAT	11.38	14.22	4.27	6.92	16.32	6.13	6.71	5.52	12.02	6.09	12.04
Long-Term Debt to NOPAT	11.55	14.77	4.29	7.04	20.22	7.60	8.26	6.72	14.08	7.09	13.24
Altman Z-Score	1.23	1.04	0.98	1.29	0.73	1.12	1.27	1.55	1.34	1.67	1.68
Noncontrolling Interest Sharing Ratio	7.01%	32.79%	6.79%	0.81%	0.99%	0.89%	0.48%	0.62%	0.83%	0.55%	0.21%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.78	1.92	1.57	1.90	1.43	1.66	1.79	1.81	1.53	1.66	2.07
Quick Ratio	1.62	1.61	1.01	1.71	1.18	1.45	1.54	1.44	1.28	1.50	1.91
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-255	31	-3,217	729	-2,714	1,124	747	1,483	813	1,178	521
Operating Cash Flow to CapEx	808.39%	912.47%	208.05%	723.11%	216.24%	584.98%	913.53%	0.00%	708.51%	892.86%	602.03%
Free Cash Flow to Firm to Interest Expense	-3.16	0.27	-11.65	3.13	-8.63	2.91	2.61	4.40	1.82	2.65	1.37
Operating Cash Flow to Interest Expense	2.55	2.45	0.40	3.16	1.33	3.25	4.25	4.16	2.23	2.82	2.35
Operating Cash Flow Less CapEx to Interest Expense	2.23	2.18	0.21	2.72	0.71	2.69	3.78	4.41	1.92	2.50	1.96
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.55	0.46	0.47	0.38	0.29	0.33	0.35	0.40	0.40	0.46	0.44
Accounts Receivable Turnover	5.59	5.37	6.23	4.98	4.25	5.03	4.83	4.96	4.54	5.09	4.71
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	3.55	4.07	4.81	3.78	3.01	3.11	2.98	3.76	3.90	4.37	4.19
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	65.33	68.00	58.61	73.23	85.94	72.52	75.62	73.58	80.47	71.66	77.55
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	65.33	68.00	58.61	73.23	85.94	72.52	75.62	73.58	80.47	71.66	77.55
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,530	1,655	5,868	5,691	8,820	8,702	8,847	8,381	8,045	7,770	7,719
Invested Capital Turnover	0.67	0.69	0.65	0.48	0.42	0.51	0.53	0.60	0.60	0.68	0.64
Increase / (Decrease) in Invested Capital	381	125	4,212	-177	3,129	-118	146	-466	-336	-275	-51
Enterprise Value (EV)	2,890	3,946	7,251	6,914	11,516	10,497	11,579	11,698	10,787	10,354	11,764
Market Capitalization	1,451	1,602	2,994	3,076	4,727	4,313	5,582	6,058	5,041	4,841	6,109
Book Value per Share	$2.62	$5.50	$34.46	$40.61	$44.03	$57.17	$69.71	$72.69	$67.76	$72.76	$68.06
Tangible Book Value per Share	($38.37)	($38.16)	($86.07)	($76.64)	($154.89)	($143.38)	($142.54)	($147.55)	($167.99)	($175.39)	($177.47)
Total Capital	1,563	2,627	5,944	5,850	10,546	10,205	10,273	9,720	9,150	8,791	8,395
Total Debt	1,476	2,342	4,362	3,981	8,493	7,668	7,415	6,951	6,837	6,523	6,333
Total Long-Term Debt	1,454	2,314	4,270	3,885	8,383	7,647	7,368	6,827	6,713	6,399	6,222
Net Debt	1,433	2,228	4,247	3,822	6,767	6,165	5,990	5,612	5,732	5,502	5,657
Capital Expenditures (CapEx)	25	31	52	102	193	214	133	-84	141	140	148
Debt-free, Cash-free Net Working Capital (DFCFNWC)	93	87	363	314	265	331	466	626	482	494	593
Debt-free Net Working Capital (DFNWC)	136	202	478	459	514	501	673	846	629	638	873
Net Working Capital (NWC)	114	174	386	363	404	479	625	722	505	514	762
Net Nonoperating Expense (NNE)	49	64	520	164	178	198	62	74	207	220	387
Net Nonoperating Obligations (NNO)	1,444	1,371	4,286	3,822	6,767	6,165	5,990	5,612	5,732	5,502	5,657
Total Depreciation and Amortization (D&A)	122	126	334	330	420	582	604	675	952	820	793
Debt-free, Cash-free Net Working Capital to Revenue	10.34%	7.92%	14.91%	11.35%	8.71%	7.36%	10.03%	12.01%	9.77%	9.14%	11.98%
Debt-free Net Working Capital to Revenue	15.18%	18.29%	19.67%	16.59%	16.90%	11.12%	14.47%	16.23%	12.75%	11.80%	17.64%
Net Working Capital to Revenue	12.71%	15.74%	15.85%	13.12%	13.30%	10.64%	13.46%	13.86%	10.24%	9.51%	15.40%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.50	$2.98	$10.38	$8.52	$5.01	$18.06	$19.81	$24.68	$9.78	$21.73	$3.04
Adjusted Weighted Average Basic Shares Outstanding	31.10M	30.69M	45.75M	45.72M	45.99M	44.92M	42.13M	39.35M	35.32M	32.31M	30.35M
Adjusted Diluted Earnings per Share	$2.42	$2.89	$10.07	$8.21	$4.80	$17.37	$18.98	$24.16	$9.64	$21.41	$3.00
Adjusted Weighted Average Diluted Shares Outstanding	32.09M	31.66M	47.15M	47.41M	47.92M	46.72M	43.98M	40.19M	35.83M	32.80M	30.71M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	30.65M	47.11M	46.11M	45.75M	45.86M	43.38M	41.00M	36.77M	33.43M	30.51M	30.33M
Normalized Net Operating Profit after Tax (NOPAT)	126	165	328	567	394	998	910	1,120	500	920	478
Normalized NOPAT Margin	14.04%	14.96%	13.47%	20.48%	12.96%	22.18%	19.57%	21.49%	10.14%	17.02%	9.65%
Pre Tax Income Margin	13.95%	15.47%	9.93%	19.26%	12.28%	24.54%	23.52%	23.35%	8.13%	17.74%	3.03%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.55	2.47	1.88	3.30	2.13	3.68	4.38	4.16	1.66	3.00	2.32
NOPAT to Interest Expense	1.56	1.35	3.61	2.37	1.32	2.61	3.12	3.02	1.07	2.03	1.24
EBIT Less CapEx to Interest Expense	2.24	2.20	1.69	2.86	1.52	3.12	3.92	4.41	1.35	2.69	1.93
NOPAT Less CapEx to Interest Expense	1.25	1.08	3.42	1.93	0.70	2.05	2.65	3.27	0.75	1.72	0.85
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	31.01%	31.73%	25.83%	18.31%	37.76%	12.50%	14.22%	15.06%	70.74%	32.06%	272.29%
Augmented Payout Ratio	94.71%	31.73%	46.66%	31.32%	56.85%	47.38%	78.92%	108.48%	294.81%	120.06%	422.89%

This table displays calculated financial ratios and metrics derived from Nexstar Media Group's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	30,327,997.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	30,327,997.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	5.41
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-10.80%	-12.31%	2.15%	2.34%	20.67%	14.11%	-3.89%	-3.15%	-12.30%	-13.44%	13.13%
EBITDA Growth	-43.83%	-16.11%	11.28%	0.67%	64.09%	42.83%	-15.79%	-9.03%	-29.59%	-30.91%	6.94%
EBIT Growth	-75.59%	-21.57%	52.36%	30.16%	230.10%	76.67%	-29.72%	-12.20%	-45.59%	-40.57%	18.50%
NOPAT Growth	-80.62%	-26.51%	45.86%	39.90%	360.08%	82.83%	-23.23%	-12.67%	-52.05%	-40.69%	79.21%
Net Income Growth	-97.22%	-44.07%	89.77%	41.33%	2,150.00%	132.32%	-41.92%	-14.15%	-63.89%	-173.91%	64.95%
EPS Growth	-90.41%	-37.29%	73.74%	34.09%	652.86%	123.42%	-34.69%	-13.56%	-59.39%	-174.87%	51.04%
Operating Cash Flow Growth	-63.30%	-16.51%	-44.13%	-4.86%	180.43%	125.82%	22.10%	40.34%	-69.77%	-53.77%	-14.24%
Free Cash Flow Firm Growth	63.56%	-27.49%	-45.97%	-59.52%	-26.86%	13.81%	33.98%	104.82%	-17.82%	-60.73%	-1,209.82%
Invested Capital Growth	-6.60%	-4.01%	-2.07%	-1.37%	-2.60%	-3.42%	-4.26%	-5.34%	-3.27%	-0.66%	75.16%
Revenue Q/Q Growth	-8.71%	15.19%	-1.53%	-1.17%	7.64%	8.93%	-17.07%	-0.41%	-2.52%	7.51%	8.39%
EBITDA Q/Q Growth	-28.38%	40.25%	13.25%	-11.50%	16.74%	22.08%	-33.23%	-4.40%	-8.96%	18.88%	3.36%
EBIT Q/Q Growth	-45.50%	133.01%	34.58%	-23.84%	38.21%	24.71%	-46.46%	-4.85%	-14.35%	36.22%	6.75%
NOPAT Q/Q Growth	-55.99%	189.63%	29.47%	-15.24%	44.74%	15.10%	-45.63%	-3.58%	-20.53%	42.38%	64.27%
Net Income Q/Q Growth	-89.33%	1,137.50%	68.69%	-36.53%	69.81%	27.78%	-57.83%	-6.19%	-28.57%	-361.54%	194.12%
EPS Q/Q Growth	-73.48%	375.71%	54.96%	-31.40%	48.87%	41.18%	-54.70%	-9.20%	-30.07%	-360.28%	191.38%
Operating Cash Flow Q/Q Growth	-25.41%	31.88%	51.65%	-36.23%	119.89%	6.20%	-18.00%	-26.71%	-52.63%	62.39%	52.11%
Free Cash Flow Firm Q/Q Growth	-10.31%	-21.53%	-24.44%	-23.88%	62.03%	22.11%	-11.05%	16.37%	-34.99%	-41.65%	-2,613.83%
Invested Capital Q/Q Growth	-0.84%	-0.70%	0.19%	-0.01%	-2.08%	-1.53%	-0.68%	-1.14%	0.05%	1.13%	75.11%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	28.53%	34.74%	39.95%	35.78%	38.80%	43.48%	35.01%	33.60%	31.39%	34.71%	33.09%
Operating Margin	8.30%	17.71%	21.42%	18.91%	24.52%	28.09%	17.83%	17.33%	14.61%	18.71%	18.98%
EBIT Margin	9.10%	18.40%	25.16%	19.39%	24.89%	28.49%	18.40%	17.58%	15.44%	19.57%	19.27%
Profit (Net Income) Margin	0.71%	7.59%	13.01%	8.35%	13.18%	15.46%	7.86%	7.40%	5.43%	-13.20%	11.46%
Tax Burden Percent	57.14%	67.35%	73.25%	71.14%	73.77%	68.05%	70.29%	70.00%	67.71%	79.44%	104.58%
Interest Burden Percent	13.59%	61.25%	70.59%	60.57%	71.76%	79.72%	60.79%	60.19%	51.89%	-84.92%	56.88%
Effective Tax Rate	42.86%	32.65%	26.75%	28.86%	26.23%	31.95%	29.71%	30.00%	32.29%	0.00%	-4.58%
Return on Invested Capital (ROIC)	2.89%	7.17%	9.55%	8.27%	11.82%	13.07%	8.51%	8.22%	6.56%	8.37%	9.56%
ROIC Less NNEP Spread (ROIC-NNEP)	2.10%	6.17%	8.94%	7.13%	10.64%	12.10%	7.48%	7.18%	5.59%	2.30%	8.16%
Return on Net Nonoperating Assets (RNNOA)	4.55%	13.77%	20.20%	16.78%	26.46%	29.68%	18.19%	17.66%	13.58%	5.93%	31.07%
Return on Equity (ROE)	7.44%	20.93%	29.75%	25.05%	38.27%	42.75%	26.70%	25.88%	20.14%	14.30%	40.63%
Cash Return on Invested Capital (CROIC)	13.23%	9.90%	8.78%	8.69%	12.36%	14.90%	15.20%	16.12%	12.42%	6.72%	-47.18%
Operating Return on Assets (OROA)	3.70%	7.33%	10.22%	8.02%	10.95%	13.09%	8.44%	8.07%	6.93%	8.68%	6.67%
Return on Assets (ROA)	0.29%	3.03%	5.29%	3.45%	5.80%	7.10%	3.61%	3.40%	2.44%	-5.85%	3.97%
Return on Common Equity (ROCE)	7.39%	20.76%	29.43%	24.88%	37.97%	42.51%	26.54%	25.81%	20.06%	14.27%	40.60%
Return on Equity Simple (ROE_SIMPLE)	14.92%	0.00%	15.04%	16.76%	24.88%	0.00%	27.28%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	54	156	201	171	247	284	155	149	118	169	277
NOPAT Margin	4.75%	11.93%	15.69%	13.45%	18.09%	19.12%	12.53%	12.13%	9.89%	13.10%	19.85%
Net Nonoperating Expense Percent (NNEP)	0.80%	1.00%	0.61%	1.14%	1.18%	0.97%	1.03%	1.04%	0.97%	6.07%	1.39%
Return On Investment Capital (ROIC_SIMPLE)	-	1.70%	-	-	-	3.25%	1.77%	1.73%	1.37%	2.01%	1.94%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	24.82%	22.16%	21.11%	21.20%	20.35%	18.15%	20.83%	21.32%	22.62%	21.20%	23.42%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	91.70%	82.29%	78.58%	81.09%	75.48%	71.91%	82.17%	82.67%	85.39%	81.29%	81.02%
Earnings before Interest and Taxes (EBIT)	103	240	323	246	340	424	227	216	185	252	269
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	323	453	513	454	530	647	432	413	376	447	462
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.07	2.19	2.47	2.38	2.40	2.14	2.43	2.31	2.62	2.96	2.53
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.94	1.02	1.15	1.08	1.02	0.90	1.02	0.98	1.16	1.23	1.07
Price to Earnings (P/E)	11.11	14.57	13.97	12.49	8.98	6.71	8.35	8.22	11.60	56.05	33.24
Dividend Yield	4.25%	3.63%	3.40%	3.70%	3.88%	4.33%	3.87%	4.11%	3.68%	3.69%	4.11%
Earnings Yield	9.00%	6.86%	7.16%	8.01%	11.14%	14.91%	11.98%	12.16%	8.62%	1.78%	3.01%
Enterprise Value to Invested Capital (EV/IC)	1.31	1.34	1.42	1.39	1.39	1.33	1.42	1.39	1.49	1.52	1.25
Enterprise Value to Revenue (EV/Rev)	2.07	2.19	2.31	2.24	2.11	1.91	2.04	1.99	2.20	2.38	3.29
Enterprise Value to EBITDA (EV/EBITDA)	5.94	6.36	6.60	6.43	5.62	4.81	5.31	5.21	6.06	7.03	9.88
Enterprise Value to EBIT (EV/EBIT)	13.04	14.50	13.41	12.27	9.58	7.77	8.84	8.77	10.78	13.37	18.26
Enterprise Value to NOPAT (EV/NOPAT)	19.74	22.63	21.05	18.85	14.17	11.47	12.78	12.69	16.07	25.04	21.28
Enterprise Value to Operating Cash Flow (EV/OCF)	10.24	10.80	14.68	14.49	10.78	8.28	8.34	7.66	10.20	13.20	19.97
Enterprise Value to Free Cash Flow (EV/FCFF)	9.55	13.27	16.04	15.86	11.14	8.79	9.13	8.37	11.77	22.59	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.93	2.96	2.90	2.97	2.99	2.88	2.89	2.83	2.78	3.07	5.61
Long-Term Debt to Equity	2.87	2.90	2.85	2.92	2.93	2.82	2.83	2.78	2.74	3.02	5.48
Financial Leverage	2.17	2.23	2.26	2.35	2.49	2.45	2.43	2.46	2.43	2.58	3.81
Leverage Ratio	4.75	4.87	4.88	4.98	5.18	5.14	5.08	5.10	5.07	5.15	6.68
Compound Leverage Factor	0.65	2.98	3.45	3.02	3.71	4.10	3.09	3.07	2.63	-4.38	3.80
Debt to Total Capital	74.53%	74.72%	74.38%	74.84%	74.94%	74.20%	74.27%	73.89%	73.57%	75.44%	84.86%
Short-Term Debt to Total Capital	1.35%	1.36%	1.35%	1.37%	1.39%	1.41%	1.42%	1.25%	1.28%	1.32%	1.91%
Long-Term Debt to Total Capital	73.19%	73.37%	73.02%	73.47%	73.55%	72.79%	72.85%	72.64%	72.29%	74.12%	82.95%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.15%	0.15%	0.27%	0.14%	0.25%	0.13%	0.03%	0.00%	-0.02%	-0.02%	0.00%
Common Equity to Total Capital	25.31%	25.13%	25.35%	25.02%	24.82%	25.67%	25.69%	26.11%	26.45%	24.59%	15.14%
Debt to EBITDA	3.84	4.03	3.92	3.90	3.42	3.03	3.15	3.14	3.40	3.79	7.14
Net Debt to EBITDA	3.22	3.38	3.29	3.32	2.88	2.56	2.65	2.65	2.86	3.38	6.66
Long-Term Debt to EBITDA	3.77	3.96	3.85	3.83	3.36	2.97	3.09	3.09	3.34	3.72	6.97
Debt to NOPAT	12.79	14.34	12.50	11.43	8.62	7.22	7.59	7.65	9.01	13.48	15.36
Net Debt to NOPAT	10.72	12.02	10.49	9.74	7.27	6.09	6.39	6.44	7.58	12.04	14.35
Long-Term Debt to NOPAT	12.56	14.08	12.27	11.22	8.46	7.09	7.45	7.52	8.85	13.24	15.02
Altman Z-Score	1.16	1.20	1.32	1.29	1.36	1.41	1.41	1.40	1.45	1.49	0.88
Noncontrolling Interest Sharing Ratio	0.69%	0.83%	1.08%	0.68%	0.78%	0.55%	0.61%	0.29%	0.44%	0.21%	0.07%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.57	1.53	1.80	1.78	1.68	1.66	1.74	1.69	1.87	2.07	1.76
Quick Ratio	1.22	1.28	1.55	1.44	1.41	1.50	1.59	1.53	1.68	1.91	1.57
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	626	492	371	283	458	559	498	579	376	220	-5,523
Operating Cash Flow to CapEx	383.33%	505.56%	627.27%	475.68%	1,334.48%	1,174.29%	962.86%	851.72%	390.00%	351.85%	1,313.64%
Free Cash Flow to Firm to Interest Expense	5.54	4.24	3.26	2.50	4.05	5.38	5.13	5.97	4.01	2.41	-46.02
Operating Cash Flow to Interest Expense	1.22	1.57	2.42	1.56	3.42	3.95	3.47	2.55	1.24	2.09	2.41
Operating Cash Flow Less CapEx to Interest Expense	0.90	1.26	2.04	1.23	3.17	3.62	3.11	2.25	0.93	1.49	2.23
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.41	0.40	0.41	0.41	0.44	0.46	0.46	0.46	0.45	0.44	0.35
Accounts Receivable Turnover	5.45	4.54	4.82	5.01	5.48	5.09	5.15	5.14	5.08	4.71	3.80
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	3.69	3.90	3.94	3.96	4.16	4.37	4.35	4.38	4.30	4.19	3.35
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	66.99	80.47	75.76	72.87	66.63	71.66	70.89	71.05	71.92	77.55	95.95
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	66.99	80.47	75.76	72.87	66.63	71.66	70.89	71.05	71.92	77.55	95.95
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	8,102	8,045	8,060	8,059	7,891	7,770	7,717	7,629	7,633	7,719	13,517
Invested Capital Turnover	0.61	0.60	0.61	0.61	0.65	0.68	0.68	0.68	0.66	0.64	0.48
Increase / (Decrease) in Invested Capital	-573	-336	-170	-112	-211	-275	-343	-430	-258	-51	5,800
Enterprise Value (EV)	10,601	10,787	11,466	11,186	11,006	10,354	10,938	10,587	11,342	11,764	16,833
Market Capitalization	4,831	5,041	5,727	5,394	5,334	4,841	5,468	5,214	5,995	6,109	5,484
Book Value per Share	$66.47	$67.76	$69.39	$69.05	$68.79	$72.76	$73.65	$74.83	$75.41	$68.06	$71.49
Tangible Book Value per Share	($164.58)	($167.99)	($167.60)	($170.27)	($172.61)	($175.39)	($177.13)	($177.39)	($173.05)	($177.47)	($361.71)
Total Capital	9,212	9,150	9,156	9,061	8,941	8,791	8,745	8,639	8,643	8,395	14,320
Total Debt	6,866	6,837	6,810	6,781	6,700	6,523	6,495	6,383	6,359	6,333	12,152
Total Long-Term Debt	6,742	6,713	6,686	6,657	6,576	6,399	6,371	6,275	6,248	6,222	11,878
Net Debt	5,756	5,732	5,714	5,779	5,650	5,502	5,467	5,373	5,349	5,657	11,349
Capital Expenditures (CapEx)	36	36	44	37	29	35	35	29	30	54	22
Debt-free, Cash-free Net Working Capital (DFCFNWC)	448	482	550	622	518	494	468	441	523	593	821
Debt-free Net Working Capital (DFNWC)	612	629	787	768	699	638	721	675	759	873	1,257
Net Working Capital (NWC)	488	505	663	644	575	514	597	567	648	762	983
Net Nonoperating Expense (NNE)	46	57	34	65	67	54	58	58	53	339	117
Net Nonoperating Obligations (NNO)	5,756	5,732	5,714	5,779	5,650	5,502	5,467	5,373	5,349	5,657	11,349
Total Depreciation and Amortization (D&A)	220	213	190	208	190	223	205	197	191	195	193
Debt-free, Cash-free Net Working Capital to Revenue	8.76%	9.77%	11.09%	12.47%	9.92%	9.14%	8.74%	8.29%	10.16%	11.98%	16.06%
Debt-free Net Working Capital to Revenue	11.96%	12.75%	15.87%	15.39%	13.38%	11.80%	13.46%	12.70%	14.74%	17.64%	24.59%
Net Working Capital to Revenue	9.54%	10.24%	13.37%	12.91%	11.01%	9.51%	11.14%	10.66%	12.59%	15.40%	19.23%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.71	$3.36	$5.25	$3.59	$5.34	$7.55	$3.41	$3.09	$2.16	($5.62)	$5.22
Adjusted Weighted Average Basic Shares Outstanding	34.93M	35.32M	33.45M	32.82M	32.02M	32.31M	30.53M	30.22M	30.32M	30.35M	30.37M
Adjusted Diluted Earnings per Share	$0.70	$3.33	$5.16	$3.54	$5.27	$7.44	$3.37	$3.06	$2.14	($5.57)	$5.09
Adjusted Weighted Average Diluted Shares Outstanding	35.37M	35.83M	34.02M	33.29M	32.44M	32.80M	30.93M	30.51M	30.65M	30.71M	31.17M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	33.93M	33.43M	32.83M	32.26M	31.02M	30.51M	30.15M	30.32M	30.33M	30.33M	30.54M
Normalized Net Operating Profit after Tax (NOPAT)	54	156	201	171	247	284	155	149	118	169	186
Normalized NOPAT Margin	4.75%	11.93%	15.69%	13.45%	18.09%	19.12%	12.53%	12.13%	9.89%	13.10%	13.29%
Pre Tax Income Margin	1.24%	11.27%	17.76%	11.74%	17.86%	22.72%	11.18%	10.58%	8.01%	-16.61%	10.96%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.91	2.07	2.83	2.18	3.01	4.08	2.34	2.23	1.97	2.77	2.24
NOPAT to Interest Expense	0.48	1.34	1.77	1.51	2.19	2.74	1.59	1.54	1.26	1.85	2.31
EBIT Less CapEx to Interest Expense	0.59	1.76	2.45	1.85	2.75	3.74	1.98	1.93	1.65	2.18	2.06
NOPAT Less CapEx to Interest Expense	0.16	1.03	1.38	1.18	1.93	2.40	1.23	1.24	0.94	1.26	2.13
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	51.44%	70.74%	56.73%	53.95%	38.59%	32.06%	35.73%	36.79%	45.76%	272.29%	154.11%
Augmented Payout Ratio	272.41%	294.81%	211.46%	195.00%	132.61%	120.06%	127.90%	117.06%	108.49%	422.89%	188.36%

Financials Breakdown Chart

Key Financial Trends

Nexstar Media Group (NXST) has delivered a pattern of solid cash generation from operations across recent quarters, with revenue generally stable in the 1.2–1.3 billion range. Profitability has been more uneven, as some quarters show positive earnings while others, notably Q4 2025, show a material net loss attributable to common shareholders. The balance sheet reflects a high but manageable leverage position, with long‑term debt around the mid‑$6 billion range and total liabilities near the mid‑to‑high $9‑billion level. The company continues to return capital to shareholders via dividends (1.86 per share) and has engaged in meaningful financing activity to support liquidity and strategic needs. Below are the key trends and takeaways for retail investors.

Strong and recurring cash flow from continuing operating activities across multiple quarters, indicating durable operating performance and liquidity.
Ongoing capital return policy, including a cash dividend per share of 1.86 USD, supporting shareholder value.
Notable debt activity in Q3 2025, with a significant debt issuance (~3.4B) that boosted near‑term liquidity and flexibility for potential growth or financing needs.
Revenue remains in a stable band around 1.2–1.3B per quarter over the period, offering relatively predictable topline generation.
Long‑term debt remains high but stable in the mid‑$6B range, implying a leveraged but manageable balance sheet profile for a large broadcast/media company.
Total liabilities typically run around $9–9.5B with equity in the low‑to‑mid $2B range, reflecting a traditional high‑debt, lower‑equity corporate structure common in capital‑intensive media businesses.
Net income shows volatility, with several quarters of positive earnings but a notable loss in Q4 2025, driven by spikes in other income/expense and tax effects in some periods.
EPS fluctuates across quarters (positive in some periods like Q3 2025), while certain quarters show negative earnings per share due to earnings mix and share count dynamics.
Q4 2025 records a substantial net loss attributable to common shareholders, highlighting near‑term earnings pressure and elevated non‑operating charges.
Significant financing activity in certain quarters (debt issuance, share repurchases, dividends) can drive cash outflows and contribute to earnings volatility over the near term.

05/19/26 03:34 AM ETAI Generated. May Contain Errors.

Nexstar Media Group Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Nexstar Media Group's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Nexstar Media Group's net income appears to be on an upward trend, with a most recent value of $83 million in 2025, rising from $76.38 million in 2015. The previous period was $683 million in 2024. Check out Nexstar Media Group's forecast to explore projected trends and price targets.

Nexstar Media Group's total operating income in 2025 was $849 million, based on the following breakdown:

Total Gross Profit: $4.95 billion
Total Operating Expenses: $4.10 billion

Over the last 10 years, Nexstar Media Group's total revenue changed from $896.38 million in 2015 to $4.95 billion in 2025, a change of 452.1%.

Nexstar Media Group's total liabilities were at $8.78 billion at the end of 2025, a 4.5% decrease from 2024, and a 402.3% increase since 2015.

In the past 10 years, Nexstar Media Group's cash and equivalents has ranged from $43.42 million in 2015 to $280 million in 2025, and is currently $280 million as of their latest financial filing in 2025.

Over the last 10 years, Nexstar Media Group's book value per share changed from 2.62 in 2015 to 68.06 in 2025, a change of 2,493.5%.

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Financial statements for NASDAQ:NXST last updated on 5/13/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Nexstar Media Group (NXST) Financials

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Nexstar Media Group (NXST) Financials

Annual Income Statements for Nexstar Media Group

Quarterly Income Statements for Nexstar Media Group

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Quarterly Cash Flow Statements for Nexstar Media Group

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Quarterly Balance Sheets for Nexstar Media Group

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Quarterly Metrics And Ratios for Nexstar Media Group

Financials Breakdown Chart

Key Financial Trends

Nexstar Media Group Financials - Frequently Asked Questions

When does Nexstar Media Group's financial year end?

How has Nexstar Media Group's net income changed over the last 10 years?

What is Nexstar Media Group's operating income?

How has Nexstar Media Group's revenue changed over the last 10 years?

How much debt does Nexstar Media Group have?

How much cash does Nexstar Media Group have?

How has Nexstar Media Group's book value per share changed over the last 10 years?

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