Gray Media Inc. (GTN) vs Nexstar Media Group, Inc. (NXST)

Gray Media Inc. and Nexstar Media Group, Inc. are both Broadcasting companies. Nexstar Media Group, Inc. is the larger, with a market value of $5.1B against $468.7M — 10.8× the size. Gray Media Inc. has negative trailing earnings, so its P/E is not meaningful; Nexstar Media Group, Inc. trades at 30.4×. Nexstar Media Group, Inc. grew revenue faster over the last twelve months: 10.5% against −11.3%. Nexstar Media Group, Inc. has the higher net margin (2.83% vs −1.84%) and the higher return on invested capital (4.74% vs 3.25%). Both pay a dividend; Gray Media Inc. yields more (7.31% vs 4.54%). Across the 22 metrics below, Nexstar Media Group, Inc. leads on 12 and Gray Media Inc. on 10.

Valuation

Metric GTN NXST Broadcasting median
P/E n/m 30.36 —
P/S 0.14 0.85 0.13
P/B 0.20 2.24 0.39
Price to free cash flow 2.94 6.66 5.57
EV/EBITDA 8.50 8.77 8.60
EV/Sales 1.93 2.82 1.29
Earnings yield (15.46%) 3.29% (16.59%)
Free cash flow yield 34.01% 15.02% 0.00%

Profitability

Metric GTN NXST Broadcasting median
Gross margin 26.05% 100.00% 40.36%
Operating margin 13.82% 17.75% (12.31%)
Net margin (1.84%) 2.83% (8.55%)
Free cash flow margin 4.64% 12.83% (0.22%)
Return on equity (2.69%) 7.41% (5.70%)
Return on assets (0.56%) 1.14% (5.59%)
Return on invested capital 3.25% 4.74% (0.41%)

Growth

Metric GTN NXST Broadcasting median
Revenue growth (TTM) (11.30%) 10.49% (11.30%)
EPS growth (last fiscal year) (141.96%) (85.99%) (48.38%)
Revenue growth, 5-year CAGR 5.39% 1.91% 2.25%
Net income growth, 5-year CAGR 0.00% (35.30%) 0.00%

Health

Metric GTN NXST Broadcasting median
Debt to equity 2.13 5.24 0.46
Current ratio 0.95 1.56 1.41
Net debt to EBITDA 7.66 3.66 3.66

Dividend

Metric GTN NXST Broadcasting median
Dividend yield 7.31% 4.54% 7.99%
Payout ratio — 1.43 —

Size

Metric GTN NXST Broadcasting median
Market cap 468.66m 5.07b 160.81m

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