NXSTNasdaqTelevision Broadcasting StationsFiscal year ends December 31
NEXSTAR MEDIA GROUP, INC.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 7, 2026
$165.80+1.21 (+0.74%)
Close on Oct 19, 2026
- Market cap
- $5.12B
- P/E (TTM)
- 31.4
- Dividend yield
- 4.49%
Margins
Share of revenue, fiscal years 2011 to 2025
Operating margin
17.2%−13.4 pts over 5 years
Net margin
2.2%−15.8 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -8.5% | -1.7% | +1.9% | +18.6% | |
| Operating income | -33.0% | -13.5% | -9.2% | +15.2% | |
| Net income | -84.9% | -51.8% | -33.1% | +3.4% | |
| EPS, diluted | -86.0% | -50.1% | -29.6% | +2.2% | |
| Free cash flow | -32.8% | -15.8% | -6.5% | +15.5% | |
| Dividend per share | +10.1% | +27.4% | +27.1% | +25.6% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 73.3% | 35.7% | 5.0% | |
| Return on assets | 3.8% | 5.9% | 1.0% | |
| Current ratio | 1.92 | 1.66 | 2.07 | |
| Debt to equity | 13.85 | 3.04 | 3.07 | |
| Net debt to EBITDA | – | 3.86× | 4.59× | |
| Capex to revenue | 2.9% | 4.8% | 3.0% | |
| Diluted shares | 32M | 47M | 31M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Nexstar Media generated $5.76B from operations and spent $4.40B on capital expenditure, dividends and share buybacks. 17% of that went back into the business.
Generated
$5.76B
Used
$4.40B
Capital expenditure$750.00M17%Dividends$896.00M20%Share buybacks$2.75B63%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin2.2%
×Asset turnover0.44×
×Equity multiplier5.16×
=Return on equity, FY20255.0%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 2.2% | 0.44× | 5.16× | 5.0% |
| FY2024 | 13.4% | 0.46× | 5.17× | 31.7% |
| FY2023 | 7.0% | 0.40× | 4.91× | 13.7% |
| FY2022 | 18.6% | 0.40× | 4.64× | 34.7% |
| FY2021 | 17.9% | 0.35× | 4.97× | 31.1% |
| FY2020 | 18.0% | 0.33× | 6.02× | 35.7% |
| FY2019 | 7.6% | 0.29× | 5.42× | 11.9% |
| FY2018 | 14.1% | 0.38× | 4.25× | 22.8% |
| FY2017 | 19.5% | 0.47× | 6.01× | 54.6% |
| FY2016 | 8.3% | 0.46× | 19.22× | 73.3% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$109.00M
- Cash generatingOperating cash flow above zero$891.00M
- Return on assets improvedROA up on the prior year6.0% → 1.0%
- Earnings backed by cashOperating cash flow above net income$891.00M vs $109.00M
- Less leverageLong-term debt to assets fell55.8% → 57.4%
- Better liquidityCurrent ratio rose1.66 → 2.07
- No dilutionShare count did not rise33M → 31M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.45 → 0.43