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Nexstar Media Group, Inc.

NXST Communication Services Broadcasting

Nexstar Media Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.9 billion, down 8.47% from fiscal 2024.

Revenue
+78.1%
EPS
+269.0%
Free cash flow
+690.7%
Total debt
+79.4%

Quarter to September 2026, against a year earlier

188.48 3.36 +1.82%
Market cap
$5.8B
P/E
16.8×
Fwd P/E
5.4×
Dividend yield
3.95%
F-score
5/9
Altman Z
1.68
Beneish M
−2.80
Dividend safety
43/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 1.99
Sold, $m 11.25
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — 1 — — — — —
Sell — — — 16 — 14 25 — 3 1 — —
Insider Ownership 6.95%

Capital & Financial Ratios $m

Size
Market Cap 5,790.00
Revenue ttm 6,810.00
Net income ttm 353.00
Free cash flow ttm 1,457.00
Net debt Q 10,963.00
Valuation
P/E 16.81
Forward P/E 5.36
Price / sales 0.85
Forward P/S Powerpack
Price / FCF 4.41
Price / book 2.37
Financial health
Current ratio Q 1.26
Debt / equity Q 4.66 (above 2: weak)
Interest coverage Q 1.91
Growth
Revenue growth Q +78.05% (above 0%: growing)
Operating income growth Q +204.00% (above 0%: growing)
EPS, this year +933.91% (at or above 15%: strong)
EPS, next year A −41.83% (below 0%: weak)
Revenue, next year A +57.67% (at or above 10%: strong)
EPS, past 5 yrs −29.62% (below 0%: weak)
EPS, next 5 yrs A +141.61% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.5×, against a ten-year median of 2.9×; over the ten years it ranged from 2.0× in 2025 to 5.4× in 2017.
P/E against its own 10 years 71.62%
10-year low 10-year high
P/S against its own 10 years 2.27%
10-year low 10-year high
P/B against its own 10 years 43.38%
10-year low 10-year high
EV/Sales against its own 10 years 22.33%
10-year low 10-year high
EV/FCF against its own 10 years 33.74%
10-year low 10-year high

Dividends raised every year since 2017

Yield
3.95%
Annual rate
7.44
Payout ratio
67.7%
Growth, 2017–25
+25.6%/yr
  1. 1.20 ’17
  2. 1.50 ’18 +25
  3. 1.80 ’19 +20
  4. 2.24 ’20 +24
  5. 2.80 ’21 +25
  6. 3.60 ’22 +29
  7. 5.40 ’23 +50
  8. 6.76 ’24 +25
  9. 7.44 ’25 +10
  10. 7.40 ’26e −1
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 147 144 280 446
Receivables 1,095 1,028 1,075 1,550
Inventory — — — —
Other 224 84 61 —
1,466 1,297 1,473 2,192
2023 2024 2025 Q'26
Payables 235 133 133 215
ST’ Debt 124 124 111 556
Other 116 78 64 —
961 783 711 1,744

Compound Annual Growth %

10y 5y 3y
Sales 18.63% 1.91% (1.70%)
Cash Flow 15.81% (6.61%) (14.04%)
Earnings 1.71% (35.30%) (54.41%)
Book Value 37.21% (4.24%) (9.64%)

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 6.54 Actual 3.61

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 2.62 2.14 Miss by 0.48
Q4 FY25 4.01 4.30 Beat by 0.29
Q1 FY26 4.78 6.15 Beat by 1.37
Q2 FY26 6.54 3.61 Miss by 2.93
Q3 FY26 8.16 — Reports 5 November 2026

EPS $

Mar Jun Sep Dec Year
’26 5.09 3.61 7.92 — —
’25 3.37 3.06 2.14 (5.63) 3.00
’24 5.16 3.54 5.27 7.56 21.41
’23 2.97 2.64 0.70 3.32 9.64
’22 5.99 5.56 7.30 5.30 24.16
’21 4.42 4.51 3.90 6.19 18.98
’20 3.30 2.13 4.08 7.97 17.37
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 1,396 1,993 2,133 — —
’25 1,234 1,229 1,198 1,288 4,949
’24 1,284 1,269 1,366 1,488 5,407
’23 1,257 1,240 1,132 1,304 4,933
’22 1,210 1,245 1,269 1,487 5,211
’21 1,114 1,132 1,157 1,246 4,648
’20 1,092 915 1,118 1,377 4,501
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 289 298 680 — —
’25 337 247 117 190 891
’24 276 176 387 411 1,250
’23 494 185 138 182 999
’22 519 290 376 218 1,403
’21 448 147 286 333 1,215
’20 415 302 160 377 1,254
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 267 265 680 — —
’25 302 219 86 136 743
’24 232 139 358 376 1,105
’23 458 144 112 146 860
’22 490 301 352 354 1,497
’21 416 127 260 274 1,077
’20 355 248 106 331 1,040
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 1,103 2,432 2,767 3,039 4,501 4,648 5,211 4,933 5,407 4,949 6,810 +18.1% 7,803 7,589 8,414 +19.4%
Gross margin, % 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 0.0 pt
EBT 171 241 533 373 1,105 1,093 1,217 401 959 150 459 (1.4%)
EBT margin, % 15.47 9.93 19.26 12.28 24.54 23.52 23.35 8.13 17.74 3.03 6.74 (12.4) pt
Net income 93 475 388 236 808 830 943 270 683 83 353 (1.3%)
Per share, $
Per share, $ Revenue 35.95 53.15 60.52 66.09 100.20 110.32 132.43 139.68 167.34 163.07 221.02 +18.3%
Earnings 2.98 10.38 8.52 5.01 18.06 19.81 24.68 9.78 21.73 3.04 11.21 +0.2%
Cash flow 9.26 2.38 16.12 9.08 27.92 28.84 35.66 28.29 38.69 29.36 47.29 +13.7%
Capex (1.02) (1.15) (2.23) (4.20) (4.77) (3.28) 2.39 (3.94) (4.49) (4.88) 0.00 +19.1%
Free cash flow 8.25 1.24 13.89 4.88 23.15 25.56 38.04 24.35 34.20 24.48 47.29 +12.8%
Book value 9.27 34.56 40.88 44.65 56.47 67.82 70.37 65.49 69.39 67.32 79.45 +24.6%
Shares, m 31 46 46 46 45 42 39 35 32 30 31 (0.1%)
Valuation, ×
Valuation, × P/E 21.02 7.43 9.22 23.40 6.00 7.61 7.06 16.38 7.23 67.01 16.81 17.2
P/S 1.75 1.45 1.30 1.77 1.09 1.37 1.32 1.15 0.94 1.25 0.85 1.3
P/B 6.78 2.23 1.92 2.63 1.93 2.23 2.48 2.45 2.28 3.02 2.37 2.8
EV/Sales 3.78 3.19 2.69 4.49 2.76 2.92 2.61 2.50 2.12 2.47 2.46 3.0
EV/FCF 16.49 137.14 11.70 60.76 11.93 12.60 9.08 14.36 10.39 16.44 12.73 30.1
Cash, $m
Cash, $m Operating cash flow 284 109 737 417 1,254 1,215 1,403 999 1,250 891 1,457 +13.5%
Capex (31) (52) (102) (193) (214) (138) 94 (139) (145) (148) (140) +18.9%
Free cash flow 253 57 635 224 1,040 1,077 1,497 860 1,105 743 1,457 +12.7%
Balance, $m
Balance, $m Working capital 174 386 363 404 479 625 722 505 514 762 448 +17.9%
Net debt 2,245 4,247 3,836 8,244 7,499 7,209 6,731 6,690 6,379 6,053 10,963 +11.7%
Shareholders’ equity 284 1,581 1,869 2,053 2,537 2,858 2,769 2,313 2,242 2,043 2,448 +24.5%
Returns, %
Returns, % ROA 3.81 9.09 5.36 2.19 5.92 6.25 7.49 2.80 5.96 0.82 2.38 (3.0) pt
ROIC 7.10 5.42 8.30 3.98 8.57 7.30 8.63 4.92 9.19 6.55 6.52 (0.5) pt
ROE 49.38 50.92 22.58 11.74 35.36 30.92 34.52 13.62 30.82 4.29 14.63 (45.1) pt
People
People Employees 4,527 9,113 8,959 16,193 12,412 12,473 12,971 13,294 13,005 12,832 — +12.3%
Revenue/emp, $m 0.24 0.27 0.31 0.19 0.36 0.37 0.40 0.37 0.42 0.39 — +5.2%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Nexstar Media Group, Inc. vs peers in Broadcasting (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
NXST Nexstar Media Group, Inc. $5.8B 16.8× 5.4× +78.05% (above 0%: growing) +268.98% (above 0%: growing) +690.70% (above 0%: growing) 100.00% 24.94%
SBGI Sinclair, Inc. $1.0B 10.3× 12.3× +15.52% (above 0%: growing) n/m +287.93% (above 0%: growing) 0.00% 15.01% Compare
NMAX Newsmax Inc. $958.4M 142× — (loss-making) +16.53% (above 0%: growing) n/m +94.72% (above 0%: growing) 43.12% 2.41% Compare
FUBO fuboTV Inc. $839.7M — (loss-making) 9.5× +37.99% (above 0%: growing) n/m +82.02% (above 0%: growing) 7.28% (1.80%) Compare
GTN.A Gray Media Inc. $671.6M — (loss-making) 2.0× +8.68% (above 0%: growing) n/m +2,750.00% (above 0%: growing) 29.56% 16.21% Compare
GTN Gray Media Inc. $515.9M — (loss-making) 2.0× +8.68% (above 0%: growing) n/m +2,750.00% (above 0%: growing) 29.56% 16.21% Compare
IHRT iHeartMedia, Inc. $327.0M — (loss-making) — (loss-making) +4.67% (above 0%: growing) n/m +448.77% (above 0%: growing) 59.01% 3.63% Compare
SSP E.W. Scripps Company (The) $273.4M — (loss-making) — (loss-making) −9.20% (below 0%: shrinking) n/m −117.88% (below 0%: shrinking) 40.03% (236.04%) Compare
CURI CuriosityStream Inc. $149.5M 253× 15.9× +22.26% (above 0%: growing) +1,002.94% (above 0%: growing) −249.16% (below 0%: shrinking) 72.84% 39.49% Compare
Median of peers $593.7M 142× 9.5× +12.10% — +191.33% 34.80% 9.32%

All 17 Broadcasting stocks →

Pay and ownership Proxy statement filed 30 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 39.51m 46.54m 217.00
2024 35.87m 44.26m 162.00
2023 29.11m 27.39m 154.00
2022 39.32m 44.59m 167.00
2021 21.15m 36.96m 141.00

Ownership

Directors and executive officers, together 7.00%
The Vanguard Group 11.00%
BlackRock, Inc. 10.50%
Perry A. Sook 6.10%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Nexstar Media Group, Inc. (NXST) Latest News

5 Nov

Impact 3 · · The Motley Fool transcript
Impact 3 · · Business Wire

29 Oct

Impact 4 · · Business Wire

28 Oct

Impact 3 · · GlobeNewswire

22 Oct

Impact 4 · · GlobeNewswire

16 Oct

Impact 3 · · GlobeNewswire

15 Oct

Impact 3 · · GlobeNewswire

13 Oct

Impact 3 · · GlobeNewswire

12 Oct

Impact 4 · · GlobeNewswire

8 Oct

Impact 3 · · Simply Wall St.

1 Oct

Impact 4 · · Business Wire

16 Sep

Impact 3 ·

4 Sep

Impact 3 ·

13 Aug

Impact 4 · · The Motley Fool transcript

7 Aug

Impact 3 · · MarketBeat transcript

6 Aug

Impact 4 ·

23 Jul

Impact 3 ·

16 Jul

Impact 4 ·

15 Jul

Impact 3 ·

16 Jun

Impact 3 · · Trefis

13 May

Impact 4 · · Simply Wall St.

11 May

Impact 4 · · Simply Wall St.
Impact 4 · · Simply Wall St.

8 May

Impact 4 · · Zacks
Impact 3 · · MarketBeat

7 May

Impact 4 · · Moby
Impact 4 · · Business Wire

29 Apr

Impact 4 · · Business Wire
Impact 3 · · Business Wire

18 Apr

Impact 4 · · Barrons.com

NXST metrics, ten years each

stockrow.com/NXST · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com