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Nexstar Media Group Inc Financials

NXST
Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Nexstar Media Group Inc (NXST) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 41 / 100
Financial Profile 41/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
60

Nexstar Media Group Inc has an operating margin of 17.2%, meaning the company retains $17 of operating profit per $100 of revenue. This results in a moderate score of 60/100, indicating healthy but not exceptional operating efficiency. This is down from 23.4% the prior year.

Growth
19

Nexstar Media Group Inc's revenue declined 8.5% year-over-year, from $5.4B to $4.9B. This contraction results in a growth score of 19/100.

Leverage
41

Nexstar Media Group Inc has a moderate D/E ratio of 3.01. This balance of debt and equity financing earns a leverage score of 41/100.

Liquidity
38

Nexstar Media Group Inc's current ratio of 2.07 indicates adequate short-term liquidity, earning a score of 38/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow
63

Nexstar Media Group Inc has a free cash flow margin of 15.0%, earning a moderate score of 63/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns
23

Nexstar Media Group Inc generates a 5.3% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 23/100. This is down from 32.0% the prior year.

Altman Z-Score Distress
1.63

Nexstar Media Group Inc scores 1.63, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Piotroski F-Score Neutral
5/9

Nexstar Media Group Inc passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed
8.17x

For every $1 of reported earnings, Nexstar Media Group Inc generates $8.17 in operating cash flow ($891.0M OCF vs $109.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate
2.2x

Nexstar Media Group Inc earns $2.2 in operating income for every $1 of interest expense ($849.0M vs $379.0M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Earnings & Revenue

Revenue
$4.9B
YoY-8.5%
5Y CAGR+1.9%
10Y CAGR+18.6%

Nexstar Media Group Inc generated $4.9B in revenue in fiscal year 2025. This represents a decrease of 8.5% from the prior year.

EBITDA
$1.3B
YoY-24.7%
5Y CAGR-7.4%
10Y CAGR+15.9%

Nexstar Media Group Inc's EBITDA was $1.3B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 24.7% from the prior year.

Net Income
$109.0M
YoY-84.9%
5Y CAGR-33.1%
10Y CAGR+3.4%

Nexstar Media Group Inc reported $109.0M in net income in fiscal year 2025. This represents a decrease of 84.9% from the prior year.

EPS (Diluted)
$3.00
YoY-86.0%
5Y CAGR-29.6%
10Y CAGR+2.2%

Nexstar Media Group Inc earned $3.00 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 86.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$743.0M
YoY-32.8%
5Y CAGR-6.5%
10Y CAGR+15.5%

Nexstar Media Group Inc generated $743.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 32.8% from the prior year.

Cash & Debt
$280.0M
YoY+94.4%
5Y CAGR+12.9%
10Y CAGR+20.5%

Nexstar Media Group Inc held $280.0M in cash against $6.2B in long-term debt as of fiscal year 2025.

Dividends Per Share
$7.44
YoY+10.1%
5Y CAGR+27.1%
10Y CAGR+25.6%

Nexstar Media Group Inc paid $7.44 per share in dividends in fiscal year 2025. This represents an increase of 10.1% from the prior year.

Shares Outstanding
30M
YoY-1.0%

Nexstar Media Group Inc had 30M shares outstanding in fiscal year 2025. This represents a decrease of 1.0% from the prior year.

Margins & Returns

Gross Margin
N/A
Operating Margin
17.2%
YoY-6.3pp
5Y CAGR-13.4pp
10Y CAGR-5.8pp

Nexstar Media Group Inc's operating margin was 17.2% in fiscal year 2025, reflecting core business profitability. This is down 6.3 percentage points from the prior year.

Net Margin
2.2%
YoY-11.2pp
5Y CAGR-15.8pp
10Y CAGR-6.5pp

Nexstar Media Group Inc's net profit margin was 2.2% in fiscal year 2025, showing the share of revenue converted to profit. This is down 11.2 percentage points from the prior year.

Return on Equity
5.3%
YoY-26.7pp
5Y CAGR-26.9pp
10Y CAGR-91.0pp

Nexstar Media Group Inc's ROE was 5.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 26.7 percentage points from the prior year.

Capital Allocation

R&D Spending
N/A
Share Buybacks
$125.0M
YoY-79.2%
5Y CAGR-15.0%
10Y CAGR+9.9%

Nexstar Media Group Inc spent $125.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 79.2% from the prior year.

Capital Expenditures
$148.0M
YoY+2.1%
5Y CAGR-7.4%
10Y CAGR+17.7%

Nexstar Media Group Inc invested $148.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 2.1% from the prior year.

NXST Income Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Revenue $1.3B+7.5% $1.2B-2.5% $1.2B-0.4% $1.2B-17.1% $1.5B+8.9% $1.4B+7.6% $1.3B-1.2% $1.3B
Cost of Revenue N/A N/A N/A N/A N/A N/A N/A N/A
Gross Profit N/A N/A N/A N/A N/A N/A N/A N/A
R&D Expenses N/A N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses $274.0M+1.5% $270.0M+3.1% $262.0M+1.9% $257.0M-4.5% $269.0M-2.9% $277.0M+2.6% $270.0M-0.7% $272.0M
Operating Income $241.0M+37.7% $175.0M-17.8% $213.0M-3.2% $220.0M-47.4% $418.0M+24.8% $335.0M+39.6% $240.0M-12.7% $275.0M
Interest Expense $479.0M+409.6% $94.0M+196.9% -$97.0M0.0% -$97.0M-117.4% $558.0M+393.8% $113.0M+200.0% -$113.0M+0.9% -$114.0M
Income Tax -$44.0M-241.9% $31.0M-20.5% $39.0M-4.9% $41.0M-62.0% $108.0M+68.8% $64.0M+48.8% $43.0M-29.5% $61.0M
Net Income -$166.0M-337.1% $70.0M-27.8% $97.0M-10.2% $108.0M-55.4% $242.0M+29.4% $187.0M+58.5% $118.0M-32.6% $175.0M
EPS (Diluted) N/A $2.14-30.1% $3.06-9.2% $3.37 N/A $5.27+48.9% $3.54-31.4% $5.16

NXST Balance Sheet

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Total Assets $10.8B-3.6% $11.2B-0.7% $11.3B-0.8% $11.4B-0.5% $11.5B-1.9% $11.7B-1.1% $11.8B-1.1% $11.9B
Current Assets $1.5B+5.7% $1.4B+0.2% $1.4B-0.9% $1.4B+8.1% $1.3B-8.7% $1.4B-3.5% $1.5B-1.5% $1.5B
Cash & Equivalents $280.0M+18.6% $236.0M+0.9% $234.0M-7.5% $253.0M+75.7% $144.0M-20.4% $181.0M+24.0% $146.0M-38.4% $237.0M
Inventory N/A N/A N/A N/A N/A N/A N/A N/A
Accounts Receivable $1.1B+6.1% $1.0B-0.9% $1.0B-0.8% $1.0B+0.2% $1.0B+1.2% $1.0B-3.1% $1.0B-0.3% $1.1B
Goodwill $2.9B-0.5% $2.9B0.0% $2.9B0.0% $2.9B+0.1% $2.9B-0.8% $2.9B0.0% $2.9B0.0% $2.9B
Total Liabilities $8.8B-2.0% $9.0B-1.2% $9.1B-1.0% $9.2B-0.4% $9.2B-2.7% $9.5B-0.9% $9.5B-0.6% $9.6B
Current Liabilities $711.0M-4.6% $745.0M-9.5% $823.0M+2.2% $805.0M+2.8% $783.0M-7.4% $846.0M+2.2% $828.0M-0.4% $831.0M
Long-Term Debt $6.2B-0.4% $6.2B-0.4% $6.3B-1.5% $6.4B-0.4% $6.4B-2.7% $6.6B-1.2% $6.7B-0.4% $6.7B
Total Equity $2.1B-9.7% $2.3B+1.3% $2.3B+0.4% $2.2B-0.4% $2.3B+1.7% $2.2B-2.1% $2.3B-2.3% $2.3B
Retained Earnings $3.5B-6.1% $3.8B+0.3% $3.8B+1.0% $3.7B+1.3% $3.7B+5.3% $3.5B+3.4% $3.4B+1.9% $3.3B

NXST Cash Flow Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Operating Cash Flow $190.0M+62.4% $117.0M-52.6% $247.0M-26.7% $337.0M-18.0% $411.0M+6.2% $387.0M+119.9% $176.0M-36.2% $276.0M
Capital Expenditures $54.0M+80.0% $30.0M+3.4% $29.0M-17.1% $35.0M0.0% $35.0M+20.7% $29.0M-21.6% $37.0M-15.9% $44.0M
Free Cash Flow $136.0M+56.3% $87.0M-60.1% $218.0M-27.8% $302.0M-19.7% $376.0M+5.0% $358.0M+157.6% $139.0M-40.1% $232.0M
Investing Cash Flow -$55.0M-89.7% -$29.0M-3.6% -$28.0M+54.1% -$61.0M-79.4% -$34.0M-17.2% -$29.0M+17.1% -$35.0M-775.0% -$4.0M
Financing Cash Flow -$91.0M-5.8% -$86.0M+63.9% -$238.0M-42.5% -$167.0M+59.7% -$414.0M-28.2% -$323.0M-39.2% -$232.0M-27.5% -$182.0M
Dividends Paid $57.0M+1.8% $56.0M0.0% $56.0M-1.8% $57.0M+9.6% $52.0M-5.5% $55.0M0.0% $55.0M-3.5% $57.0M
Share Buybacks $0 $0-100.0% $50.0M-33.3% $75.0M-57.9% $178.0M+0.6% $177.0M+31.1% $135.0M+21.6% $111.0M

NXST Financial Ratios

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Gross Margin N/A N/A N/A N/A N/A N/A N/A N/A
Operating Margin 18.7%+4.1pp 14.6%-2.7pp 17.3%-0.5pp 17.8%-10.3pp 28.1%+3.6pp 24.5%+5.6pp 18.9%-2.5pp 21.4%
Net Margin -12.9%-18.7pp 5.8%-2.0pp 7.9%-0.9pp 8.8%-7.5pp 16.3%+2.6pp 13.7%+4.4pp 9.3%-4.3pp 13.6%
Return on Equity -8.0%-11.1pp 3.1%-1.2pp 4.3%-0.5pp 4.8%-5.9pp 10.7%+2.3pp 8.4%+3.2pp 5.2%-2.3pp 7.5%
Return on Assets -1.5%-2.1pp 0.6%-0.2pp 0.9%-0.1pp 0.9%-1.2pp 2.1%+0.5pp 1.6%+0.6pp 1.0%-0.5pp 1.5%
Current Ratio 2.07+0.2 1.87+0.2 1.69-0.1 1.74+0.1 1.66-0.0 1.68-0.1 1.78-0.0 1.80
Debt-to-Equity 3.01+0.3 2.73-0.0 2.78-0.1 2.840.0 2.84-0.1 2.96+0.0 2.94+0.1 2.88
FCF Margin 10.6%+3.3pp 7.3%-10.5pp 17.7%-6.7pp 24.5%-0.8pp 25.3%-0.9pp 26.2%+15.3pp 10.9%-7.1pp 18.1%

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Frequently Asked Questions

Nexstar Media Group Inc (NXST) reported $4.9B in total revenue for fiscal year 2025. This represents a -8.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Nexstar Media Group Inc (NXST) revenue declined by 8.5% year-over-year, from $5.4B to $4.9B in fiscal year 2025.

Yes, Nexstar Media Group Inc (NXST) reported a net income of $109.0M in fiscal year 2025, with a net profit margin of 2.2%.

Nexstar Media Group Inc (NXST) reported diluted earnings per share of $3.00 for fiscal year 2025. This represents a -86.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Nexstar Media Group Inc (NXST) had EBITDA of $1.3B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Nexstar Media Group Inc (NXST) had $280.0M in cash and equivalents against $6.2B in long-term debt.

Nexstar Media Group Inc (NXST) had an operating margin of 17.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Nexstar Media Group Inc (NXST) had a net profit margin of 2.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Yes, Nexstar Media Group Inc (NXST) paid $7.44 per share in dividends during fiscal year 2025.

Nexstar Media Group Inc (NXST) has a return on equity of 5.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Nexstar Media Group Inc (NXST) generated $743.0M in free cash flow during fiscal year 2025. This represents a -32.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Nexstar Media Group Inc (NXST) generated $891.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Nexstar Media Group Inc (NXST) had $10.8B in total assets as of fiscal year 2025, including both current and long-term assets.

Nexstar Media Group Inc (NXST) invested $148.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Yes, Nexstar Media Group Inc (NXST) spent $125.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Nexstar Media Group Inc (NXST) had 30M shares outstanding as of fiscal year 2025.

Nexstar Media Group Inc (NXST) had a current ratio of 2.07 as of fiscal year 2025, which is generally considered healthy.

Nexstar Media Group Inc (NXST) had a debt-to-equity ratio of 3.01 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Nexstar Media Group Inc (NXST) had a return on assets of 1.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Nexstar Media Group Inc (NXST) has an Altman Z-Score of 1.63, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Nexstar Media Group Inc (NXST) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Nexstar Media Group Inc (NXST) has an earnings quality ratio of 8.17x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Nexstar Media Group Inc (NXST) has an interest coverage ratio of 2.2x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Nexstar Media Group Inc (NXST) scores 41 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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