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Investment Highlights Market Valuation Price Chart Business Description Interactive Breakdown Latest Trefis Analyses Better Bets vs. NXST Recent Active Movers More From Trefis Peer Financials Peer Growth & Margins Peer Valuation Peer Returns Peer Analyses FDIC Bank Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Insider Activity Industry Resource Links External Quote Links

Nexstar Media (NXST)

Market Price (9/15/2025): $206.72 | Market Cap: $6.2 Bil
Sector: Communication Services | Industry: Movies & Entertainment

Nexstar Media (NXST)

Market Price (9/15/2025): $206.72
Market Cap: $6.2 Bil
Sector: Communication Services
Industry: Movies & Entertainment

Investment Highlights

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 14%, Dividend Yield is 3.5%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 9.1%, FCF Yield is 20%		 Trading close to highs
Dist 52W High is -1.2%, Dist 3Y High is -1.2%		 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 98%
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 23%		 Weak multi-year price returns
3Y Excs Rtn is -42%		 Weak revenue growth
Rev Chg QQuarterly Revenue Change % is -3.2%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 26%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 24%		  
3 Low stock price volatility
Vol 12M is 35%		  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 14%, Dividend Yield is 3.5%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 9.1%, FCF Yield is 20%
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 23%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 26%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 24%
3 Low stock price volatility
Vol 12M is 35%
4 Trading close to highs
Dist 52W High is -1.2%, Dist 3Y High is -1.2%
5 Weak multi-year price returns
3Y Excs Rtn is -42%
6 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 98%
7 Weak revenue growth
Rev Chg QQuarterly Revenue Change % is -3.2%

Market Valuation

 9/15/252024202320222021
Share Price CYE$206.72$153.05$145.71$157.57$130.91
Market Cap CYE ($ Bil)6.24.74.95.95.4
Total Debt ($ Bil)6.46.56.87.07.5
Total Cash ($ Bil)0.20.10.10.20.2
Enterprise Value ($ Bil)12.411.211.712.912.9
Valuation Ratios     
P/S TTM1.20.91.11.31.4
P/EBIT TTM5.03.66.54.44.6
P/E TTM9.87.116.07.17.6
Sector Ratios     
P/S TTM (Sector)1.21.01.11.22.0
P/EBIT TTM (Sector)1.10.8-0.11.13.2
P/E TTM (Sector)-0.6-0.6-0.6-0.31.7
 9/15/2520242023
Share Price CYE$206.72$153.05$145.71
Market Cap CYE ($ Bil)6.24.74.9
Total Debt ($ Bil)6.46.56.8
Total Cash ($ Bil)0.20.10.1
Enterprise Value ($ Bil)12.411.211.7
Valuation Ratios   
P/S TTM1.20.91.1
P/EBIT TTM5.03.66.5
P/E TTM9.87.116.0
Sector Ratios   
P/S TTM (Sector)1.21.01.1
P/EBIT TTM (Sector)1.10.8-0.1
P/E TTM (Sector)-0.6-0.6-0.6

Market Cap Chart

Business Description

Nexstar Media Group, Inc., a television broadcasting and digital media company, focuses on the acquisition, development, and operation of television stations and interactive community websites and digital media services in the United States. The company offers free programming to television viewing audiences. As of December 31, 2020, it provided sales, programming, and other services through various local service agreements to 37 power television stations owned by independent third parties; and owned, operated, programmed, or provided sales and other services to 198 television stations. Show more

Price Returns Compared

Expand for Detailed View

 202020212022202320242025Total [1]
Returns
NXST Return-4%39%20%-8%5%35%111%
Peers Return38%1%-34%15%21%4%33%
S&P 500 Return16%27%-19%24%23%12%104%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: NYT, TGNA, CABO, NFLX, DIS. See NXST Returns vs. Peers.
[3] 2025 data is for the year up to 9/12/2025 (YTD)

Latest Trefis Analyses

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1OCTOEightco900.0%562.1%
2QMMMQMMM875.3%5698.4%
3WLDSWearable Devices780.4%8.0%
4CWDCaliberCos268.8%-45.1%
5AIREReAlpha Tech257.5%-49.8%
6PTNMPitanium154.0% 
7OPIOffice Properties Income Trust144.0%-42.6%
8HYPDHyperion DeFi144.0% 
9ISPCiSpecimen128.4%-26.6%
10EDHLEverbright Digital127.6% 

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1DGNXDiginex-85.6% 
2LGCLLucas GC-69.1%-76.6%
3YYGHYY-68.7%-76.6%
4BINIBollinger Innovations-61.6%-100.0%
5IPDNProfessional Diversity Network-54.5%-41.4%
6INHDInno-53.4%-4.4%
7CDTCDT Equity-49.2%-99.4%
8NFENew Fortress Energy-46.5%-91.3%
9TGHLGrowhub-44.8% 
10SLXNSilexion Therapeutics-43.1%-86.5%

1 Month Top Gainers

#TickerCompany1M RtnYTD Rtn
1PMIPicard Medical11249.2%11249.2%
2GIBOGIBO7400.0% 
3LNZALanzaTech Global4710.5%-85.8%
4CHSNChanson International3717.0%-99.3%
5QMMMQMMM2669.4%5698.4%
6VTAKCatheter Precision1332.7%-71.4%
7CURXCuranex Pharmaceuticals1309.0%1309.0%
8OCTOEightco811.9%562.1%
9WLDSWearable Devices708.6%8.0%
10PTNMPitanium423.7% 

1 Month Top Losers

#TickerCompany1M RtnYTD Rtn
1BINIBollinger Innovations-93.4%-100.0%
2ETSElite Express-92.8%-92.8%
3CJETChijet Motor-92.7%-94.6%
4ELPWElong Power-91.7%-75.8%
5STFSStar Fashion Culture-91.4%-97.8%
6JEM707 Cayman-90.4%-98.0%
7FLYEFly-E-90.4%-82.8%
8NXTTNext Technology-89.3%-93.8%
9NUTRNusaTrip-87.2%-87.2%
10CUPRCuprina-84.3% 

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1OCTOEightco900.0%562.1%
2QMMMQMMM875.3%5698.4%
3WLDSWearable Devices780.4%8.0%
4CWDCaliberCos268.8%-45.1%
5AIREReAlpha Tech257.5%-49.8%
6PTNMPitanium154.0% 
7OPIOffice Properties Income Trust144.0%-42.6%
8HYPDHyperion DeFi144.0% 
9ISPCiSpecimen128.4%-26.6%
10EDHLEverbright Digital127.6% 

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1DGNXDiginex-85.6% 
2LGCLLucas GC-69.1%-76.6%
3YYGHYY-68.7%-76.6%
4BINIBollinger Innovations-61.6%-100.0%
5IPDNProfessional Diversity Network-54.5%-41.4%
6INHDInno-53.4%-4.4%
7CDTCDT Equity-49.2%-99.4%
8NFENew Fortress Energy-46.5%-91.3%
9TGHLGrowhub-44.8% 
10SLXNSilexion Therapeutics-43.1%-86.5%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Nexstar Media

Financials

NXSTNYTTGNACABONFLXDISMedian
NameNexstar .New York.Tegna Cable OneNetflix Walt Dis. 
Mkt Price206.9558.9321.05171.931,188.44115.96143.94
Mkt Cap6.39.63.41.0505.3208.67.9
Rev LTM5,3162,6893,0321,54241,69394,5354,174
Op Inc LTM1,20940673742112,30413,974973
FCF LTM1,2544555763138,50111,548915
FCF 3Y Avg9923435683196,5277,450780
CFO LTM1,3824906196059,07019,1451,001
CFO 3Y Avg1,1423736176586,95013,329900

Growth & Margins

NXSTNYTTGNACABONFLXDISMedian
NameNexstar .New York.Tegna Cable OneNetflix Walt Dis. 
Rev Chg LTM6.6%7.8%5.9%-5.4%14.8%5.0%6.2%
Rev Chg 3Y Avg3.2%7.0%-0.4%-3.5%10.5%5.3%4.2%
Rev Chg Q-3.2%9.7%-5.0%-3.4%15.9%2.1%-0.5%
QoQ Delta Rev Chg LTM-0.7%2.3%-1.2%-0.9%3.8%0.5%-0.1%
Op Mgn LTM22.7%15.1%24.3%27.3%29.5%14.8%23.5%
Op Mgn 3Y Avg20.8%13.0%23.8%30.0%23.6%11.9%22.2%
QoQ Delta Op Mgn LTM-0.3%0.7%-0.4%-0.5%1.8%0.2%-0.1%
CFO/Rev LTM26.0%18.2%20.4%39.2%21.8%20.3%21.1%
CFO/Rev 3Y Avg21.9%14.7%20.3%40.5%18.6%14.5%19.5%
FCF/Rev LTM23.6%16.9%19.0%20.3%20.4%12.2%19.7%
FCF/Rev 3Y Avg19.0%13.5%18.7%19.7%17.5%8.1%18.1%

Valuation

NXSTNYTTGNACABONFLXDISMedian
NameNexstar .New York.Tegna Cable OneNetflix Walt Dis. 
Mkt Cap6.39.63.41.0505.3208.67.9
P/S1.23.61.10.612.12.21.7
P/EBIT5.023.14.5-3.940.616.310.6
P/E9.930.07.5-2.049.318.114.0
P/CFO4.519.65.51.655.710.98.2
Total Yield13.7%4.3%15.8%-45.9%2.0%5.9%5.1%
Dividend Yield3.5%1.0%2.4%5.3%0.0%0.4%1.7%
FCF Yield 3Y Avg17.9%4.2%19.8%21.9%2.0%3.8%11.1%
D/E1.00.00.93.60.00.20.6
Net D/E1.0-0.10.73.40.00.20.4

Returns

NXSTNYTTGNACABONFLXDISMedian
NameNexstar .New York.Tegna Cable OneNetflix Walt Dis. 
1M Rtn0.3%-2.0%3.2%11.7%-4.1%0.5%0.4%
3M Rtn25.4%6.3%28.8%30.4%-2.0%-1.3%15.8%
6M Rtn24.2%21.4%20.8%-24.1%29.5%18.1%21.1%
12M Rtn29.2%11.4%51.4%-48.1%70.5%29.2%29.2%
3Y Rtn20.8%97.3%5.6%-82.8%404.9%6.4%13.6%
1M Excs Rtn-2.4%-4.6%-0.1%14.6%-3.1%-2.4%-2.4%
3M Excs Rtn14.5%-2.6%18.0%23.1%-11.1%-10.7%6.0%
6M Excs Rtn5.9%4.8%3.5%-46.5%14.3%1.0%4.2%
12M Excs Rtn13.4%-6.7%32.7%-67.1%56.6%12.5%12.9%
3Y Excs Rtn-41.9%34.7%-58.1%-148.7%353.6%-60.8%-50.0%

Comparison Analyses

Title
0How Does NXST Stack Up Against Its Peers?
1Nexstar Broadcasting Group vs. World Wrestling Entertainment: With Return Forecast Of 89%, Nexstar Broadcasting Group Is A Better Bet
2Nexstar Broadcasting Group vs. AMC Networks: With Return Forecast Of 90%, Nexstar Broadcasting Group Is A Better Bet
3NXST or GTN - With 11% Return Forecast, GTN Probably Deserves Your Money
4With 11% Gains On The Table, SBGI May Outshine NXST
5Nexstar Broadcasting Group vs. Interpublic Group: With Return Forecast Of 90%, Nexstar Broadcasting Group Is A Better Bet
6EW Could Deliver 17% Returns And Outperform NXST
7Nexstar Broadcasting Group vs. Jazz Pharmaceuticals: With Return Forecast Of 84%, Nexstar Broadcasting Group Is A Better Bet
8Nexstar Broadcasting Group vs. Floor & Decor Holdings: With Return Forecast Of 84%, Nexstar Broadcasting Group Is A Better Bet
9Nexstar Broadcasting Group vs. Lear: With Return Forecast Of 84%, Nexstar Broadcasting Group Is A Better Bet

Financials

$ Mil | FY: 12/312025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q12022Q42022Q3
Period End6/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/20233/31/202312/31/20229/30/2022
Filing Date8/8/20255/8/20252/27/202511/7/20248/8/20245/9/20242/28/202411/8/20238/8/20235/9/20232/28/202311/9/2022
Key Financials Quarterly            
Total Revenue1,2291,2341,4871,3661,2691,2841,3041,1321,2401,2571,4871,269
Ebitda424440661547470532472347483486580602
Operating Income21322044133524027526694179204427356
Net Income971082421871181751142596111203289
EPS3.093.417.685.343.595.253.310.712.683.035.427.45
Key Financials TTM            
Total Revenue TTM5,3165,3565,4065,2234,9894,9604,9335,1165,2535,2585,2114,970
Ebitda TTM2,0722,1182,2102,0211,8211,8341,7881,8962,1512,1852,2172,189
Operating Income TTM1,2091,2361,2911,1168758147439041,1661,3211,4461,366
Net Income TTM6346557225944324103464356998309711,031
Growth Rates Quarterly            
Total Revenue Growth-3.2%-3.9%14.0%20.7%2.3%2.1%-12.3%-10.8%-0.4%3.9%19.4%9.7%
EBITDA Growth-9.8%-17.3%40.0%57.6%-2.7%9.5%-18.6%-42.4%-6.6%-6.2%5.1%33.1%
Operating Income Growth-11.2%-20.0%65.8%256.4%34.1%34.8%-37.7%-73.6%-46.4%-38.0%22.9%28.3%
Net Income Growth-17.8%-38.3%112.3%648.0%22.9%57.7%-43.8%-91.3%-57.7%-56.0%-22.9%70.4%
Margins Quarterly            
EBITDA Margin34.5%35.7%44.5%40.0%37.0%41.4%36.2%30.7%39.0%38.7%39.0%47.4%
Operating Income Margin17.3%17.8%29.7%24.5%18.9%21.4%20.4%8.3%14.4%16.2%28.7%28.1%
Net Income Margin7.9%8.8%16.3%13.7%9.3%13.6%8.7%2.2%7.7%8.8%13.7%22.8%
Cash & Debt            
Total Cash234253144181146237135150346413204347
Total Debt6,3836,5366,5236,7416,8236,8536,8376,9146,9446,9737,0017,224
Net Debt / (Cash)6,1496,2836,3796,5606,6776,6166,7026,7646,5986,5606,7976,877
Cash Flows Quarterly            
FCF from Operations247337411387176276182138185494218376
Cash Flows TTM            
FCF from Operations TTM1,3821,3111,2501,0217727819991,0351,2731,3781,4031,518
Returns to Shareholders Quarterly            
Dividends565752555557464748503435
Share Repurchases507517817713511196194139176260215
Return on Invested Capital (ROIC) Quarterly            
ROIC9.7%9.8%18.9%15.1%10.2%12.2%10.7%3.2%7.4%8.4%18.2%16.1%
Return on Invested Capital (ROIC) TTM            
ROIC TTM13.8%13.9%14.4%12.2%9.3%8.6%7.5%9.3%13.0%15.0%16.5%15.7%

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Broadcast4,6115,0334,5344,4112,929
Other339173 91110
Corporate (unallocated)109   
Eliminations-27-4   
Corporate (unallocated) and Other  114  
The CW Network, LLC (CW)  0  
Total4,9335,2114,6484,5013,039


Operating Income by Segment
$ Mil20242023202220212020
Broadcast7081,3121,7421,824948
Corporate (unallocated) and Other  -153  
Depreciation and amortization expense  -589-427 
Goodwill and other long-lived asset impairments  -23  
Miscellaneous, net  110 
Payments for broadcast rights  16756 
Reimbursement from the Federal Communications Commission’s (“FCC”) related to station repack  2057 
Corporate (unallocated)   -142 
Gain on disposal of stations and business units, net   7 
Other    -293
Total7081,3121,1751,375655


Price Behavior

NXST Betas & Captures as of 8/31/2025

 1M2M3M6M1Y3Y
Beta0.921.301.210.930.880.95
Up Beta1.231.832.190.780.840.89
Down Beta0.581.091.281.211.010.99
Up Capture146%160%113%102%82%76%
Bmk +ve Days10223571142415
Stock +ve Days12233569129389
Down Capture5%42%28%83%84%101%
Bmk -ve Days11192754106334
Stock -ve Days9192857119361

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date8292025
Short Interest: Shares Quantity1,837,866
Short Interest: % Change Since 8152025-2.4%
Average Daily Volume471,185
Days-to-Cover Short Interest3.90
Basic Shares Quantity30,221,000
Short % of Basic Shares6.1%

Returns Analyses

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/7/2025-1.3%12.3%12.4%
5/8/20255.4%12.0%9.6%
2/27/202511.1%15.9%22.7%
11/7/20242.9%-9.4%-6.2%
8/8/2024-4.9%-6.6%-5.1%
5/9/20246.9%4.5%-6.0%
2/28/20241.5%-3.1%5.8%
11/8/2023-2.7%-0.7%-5.1%
...
SUMMARY STATS   
# Positive151517
# Negative997
Median Positive5.4%10.0%9.6%
Median Negative-3.3%-4.2%-6.2%
Max Positive32.1%34.6%45.2%
Max Negative-6.0%-11.3%-44.2%

Insider Activity

Expand for More

 OwnerTitleFiling DateActionPriceSharesTransacted
Value		Value of
Held Shares		Form
0McMillen Charles Thomas 3282025Sell151.731,000151,735839,852Form
1ALFORD ANDREWPresident, Broadcasting3272025Sell181.983,768685,716983,624Form
2Jenkins BrettSee Remarks3192025Sell176.753,785668,9873,845,131Form
3ZIMMER DANASee Remarks3112025Sell177.684,846861,021318,397Form
4WEITMAN GARYSee Remarks3072025Sell177.211,241219,918704,410Form

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