MARKETS / NASDAQ / NXST

NASDAQ · TELEVISION BROADCASTING STATIONS · LARGE CAP

Nexstar Media Group, Inc. NXST

17 fiscal years on record · USD · FY2025 reported · SEC filings only

8 YEARS OF DIVIDEND GROWTH

Revenue

$4.9B

▼ 8.5% YoY

Net income

$109.0M

▼ 84.9% YoY

Free cash flow

$743.0M

▼ 32.8% YoY

In brief

What this company does

Nexstar Media Group, Inc. produces and distributes local and national news, sports and entertainment content across its television and digital platforms, including more than 317,000 hours of programming produced annually by its business units. It owns or has partner arrangements with over 200 television stations in 116 U.S. markets across 40 states and the District of Columbia, reaching over 225 million people. Its national television properties include an 80.8% interest in The CW Network, LLC, the fifth major broadcast network in the U.S., NewsNation, a national news network, two entertainment multicast networks, Antenna TV and REWIND TV, and a 31.3% ownership stake in Television Food Network, G.P. Its portfolio of digital assets, including its local TV station apps and websites, The Hill and NewsNationNow.com, attracted over 90 million monthly unique users on average during 2025, according to Comscore. In total, it employs approximately 6,000 journalists and 1,600 salespeople and has relationships with over 50,000 advertisers. No single customer generated more than 13% of its revenue, no single market generated more than 3% of its revenue, and no network affiliate group represented more than 25% of its 2025 combined core and political advertising net revenue. Nexstar is a Delaware corporation formed in 1996.

Written from the business description in NEXSTAR MEDIA GROUP, INC.'s annual report to the U.S. Securities and Exchange Commission, filed 27 February 2026. Every sentence was checked against that document before publication.

Growth

USD 4.9B

Revenue, FY2025 · full 17-year series below

Revenue $B Net income $B

FY2025 · Revenue 4.9 · Net income 0.1

Compound annual growth

Revenue

−1.7%

+1.9%

+18.6%

+20.2%

Net income

−51.8%

−33.1%

+3.4%

EPS, diluted

−50.1%

−29.6%

Dividend / share

+27.4%

+27.1%

Returned to shareholders

−29.8%

−1.5%

+17.7%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +1.9% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

2 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 17.2% · Net 1.7%

ROE

FY2025 · ROE 5.0%

Gross margin54.8%

Operating margin17.2%

Net margin1.7%

Return on assets0.7%

EBITDAUSD 1.3B

Each USD of equity produced 5 cents of profit this year.

Cash & shareholders

USD 351.0M

returned in FY2025 · dividends + net buybacks

Free cash flow $B

FY2025 · FCF 0.7

Net buybacks $M Dividends $M

FY2025 · Dividends 226.0 · Net buybacks 125.0

Dividends paidUSD 226.0M

Net buybacksUSD 125.0M

Share of profit322.0%

Consecutive raises8 years (since the 2017 share-count change)

USD 226.0M in dividends and USD 125.0M in buybacks — 322% of the year's profit, so the payout drew on cash built up earlier.

Total assetsUSD 10.8B

EquityUSD 2.1B

CashUSD 280.0M

Gross debtUSD 6.3B

Net debtUSD 6.1B

Current ratio2.07×

Net debt stands at 293% of equity.

The 17-year record

17 fiscal years

Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
Revenue $B	4.9	5.4	4.9	5.2	4.6	4.5	3.0	2.8	2.4	1.1	0.9	0.6	0.5	0.4	0.3	0.3	0.3
Operating income $B	0.8	1.3	0.7	1.3	1.2	1.4	0.7	0.8	0.5	0.3	0.2	0.2	0.1	0.1	0.0	0.1	0.0
EBITDA $B	1.3	1.8	1.2	2.0	1.8	1.9	0.8	0.9	0.6	0.3	0.3	0.2	0.1	0.1	0.1	0.1	0.0
Income tax $B	0.1	0.3	0.1	0.3	0.3	0.3	0.1	0.1	−0.2	0.1	0.0	0.0	0.0	−0.1	0.0	0.0	0.0
Net income $B	0.1	0.7	0.3	1.0	0.8	0.8	0.2	0.4	0.5	0.1	0.1	0.1	−0.0	0.2	−0.0	−0.0	−0.0
Free cash flow $B	0.7	1.1	0.8	1.2	1.1	1.0	0.2	0.6	0.0	0.3	0.2	0.1	0.0	0.1	0.0	0.0	0.0
EPS, diluted $	3.00	21.41	9.64	24.16	18.98	17.37	4.80	8.21	10.07	2.89	2.42	2.02	−0.06	5.94	−0.42	−0.06	−0.44
Dividend / sh $	7.44	6.76	5.40	3.60	2.80	2.24	1.80	1.50	1.20	0.96	0.76	·	0.48	0.00	0.00	·	·
Payout %	207	30	55	15	14	12	36	18	12	32	30	29	−801	0	−0	·	·
ROE %	5.0	31.7	13.7	34.7	31.1	35.7	11.9	22.8	54.6	73.3	116.6	328.4	·	·	·	·	·
Shares out B	0.03	0.03	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Compare

This company against its peers

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Provenance

Company facts, as filed

How we verify · 0 failures in 65 reconciliationsAUDITED

Reconciled in 17 of 19 fiscal years. 13 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityTelevision Broadcasting Stations

Listed onNASDAQ

Incorporated inDelaware

Fiscal year endsDecember 31

Data on record since2009