Nexstar Media Group, Inc. is an American media company and the largest owner of local television stations in the United States. The company operates over 200 broadcast stations across 116 markets, reaching approximately 70% of U.S. television households. In addition to its local affiliates, Nexstar owns national properties including The CW Network, the cable news channel NewsNation, and digital media assets such as The Hill.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Total Revenues
4,949,000
5,407,000
4,933,000
5,211,000
Cost of Sales
2,235,000
2,221,000
2,153,000
2,005,000
Gross Profit
4,949,000
5,407,000
4,933,000
5,211,000
Selling, General & Administrative Expenses
1,063,000
1,088,000
1,098,000
1,098,000
Depreciation & Amortization Expenses
471,000
484,000
488,000
662,000
Other Operating Expenses
331,000
346,000
486,000
134,000
Operating Profit
849,000
1,268,000
708,000
1,312,000
Interest and Investment Income
30,000
70,000
104,000
153,000
Interest Expense
(379,000)
(444,000)
(447,000)
(337,000)
Non-Operating Income
(350,000)
65,000
36,000
89,000
Total Non-Operating Income
(699,000)
(309,000)
(307,000)
(95,000)
Income Before Provision for Income Taxes
150,000
959,000
401,000
1,217,000
Provision for Income Taxes
(67,000)
(276,000)
(131,000)
(274,000)
Consolidated Net Income
83,000
683,000
270,000
943,000
Net Income Attributable to Minority Interests and Other
26,000
39,000
76,000
28,000
Net Income Attributable to Common Shareholders
109,000
722,000
346,000
971,000
Basic EPS
3.04
21.73
9.78
24.68
Diluted EPS
3.00
21.41
9.64
24.16
Basic Weighted Average Shares Outstanding
30,349
32,311
35,317
39,349
Diluted Weighted Average Shares Outstanding
30,707
32,796
35,834
40,187
Shares Outstanding
30,328
30,621
33,601
36,810
FY 2025
FY 2024
FY 2023
FY 2022
Cash and Cash Equivalents
280,000
144,000
12,000
16,000
Total Cash and Cash Equivalents
280,000
144,000
12,000
16,000
Accounts Receivable
1,075,000
1,028,000
1,095,000
1,080,000
Total Trade Receivables
1,075,000
1,028,000
1,095,000
1,080,000
Other Current Assets
61,000
84,000
136,000
194,000
Total Current Assets
1,473,000
1,297,000
1,466,000
1,615,000
Net Property, Plant & Equipment
1,158,000
1,207,000
1,269,000
1,262,000
Net Intangible Assets
4,536,000
4,776,000
5,053,000
5,344,000
Goodwill
2,910,000
2,922,000
2,946,000
2,961,000
Long-Term Investments
396,000
877,000
958,000
1,119,000
Other Long-Term Assets
373,000
389,000
386,000
378,000
Total Assets
10,846,000
11,468,000
12,078,000
12,679,000
Accounts Payable
133,000
133,000
235,000
198,000
Accrued Expenses
314,000
314,000
350,000
319,000
Current Portion of Long-Term Debt
111,000
124,000
124,000
124,000
Current Portion of Leases
41,000
37,000
—
50,000
Other Current Liabilities
112,000
175,000
252,000
202,000
Total Current Liabilities
711,000
783,000
961,000
893,000
Long-Term Debt
6,222,000
6,399,000
6,713,000
6,827,000
Other Long-Term Liabilities
1,354,000
1,487,000
1,520,000
1,606,000
Total Long-Term Liabilities
7,576,000
7,886,000
8,233,000
8,433,000
Total Liabilities
8,784,000
9,200,000
9,765,000
9,910,000
Treasury Stock
(2,789,000)
(2,717,000)
(2,173,000)
(1,607,000)
Additional Paid-in Capital
1,331,000
1,304,000
1,283,000
1,288,000
Accumulated Other Comprehensive Income
(15,000)
(1,000)
1,000
27,000
Retained Earnings
3,537,000
3,671,000
3,188,000
3,033,000
Total Common Shareholders' Equity
2,064,000
2,257,000
2,299,000
2,741,000
Minority Interests and Other
19,000
26,000
14,000
28,000
Total Shareholders' Equity
2,083,000
2,283,000
2,313,000
2,769,000
Total Liabilities and Shareholders' Equity
10,846,000
11,468,000
12,078,000
12,679,000
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
83,000
683,000
270,000
943,000
Depreciation & Amortization
785,000
808,000
941,000
662,000
Share-Based Compensation Expense
78,000
78,000
60,000
62,000
Other Adjustments
38,000
(278,000)
(282,000)
(160,000)
Changes in Trade Receivables
(47,000)
68,000
(13,000)
(12,000)
Changes in Accounts Payable
4,000
(98,000)
32,000
(50,000)
Changes in Accrued Expenses
—
(26,000)
29,000
(19,000)
Changes in Income Taxes Payable
(14,000)
52,000
37,000
10,000
Changes in Other Operating Activities
(36,000)
(37,000)
(75,000)
(33,000)
Cash from Operating Activities
891,000
1,250,000
999,000
1,403,000
Capital Expenditure
(148,000)
(145,000)
(149,000)
(157,000)
Proceeds from Sale of Property, Plant & Equipment
—
—
—
241,000
Proceeds from Sale of Investments
—
40,000
—
—
Payments for Business Acquisitions
(22,000)
—
(38,000)
—
Other Investing Activities
(3,000)
3,000
14,000
41,000
Cash from Investing Activities
(173,000)
(102,000)
(173,000)
125,000
Issuance of Long-Term Debt
3,393,000
55,000
20,000
2,480,000
Repayments of Long-Term Debt
(3,595,000)
(382,000)
(145,000)
(2,960,000)
Net Issuance / (Repayments) of Long-Term Debt
(202,000)
(327,000)
(125,000)
(480,000)
Issuance of Common Shares
—
10,000
4,000
8,000
Repurchases of Common Shares
(125,000)
(601,000)
(605,000)
(881,000)
Net Issuance / (Repurchases) of Common Shares
(125,000)
(591,000)
(601,000)
(873,000)
Common Share Dividends Paid
(226,000)
(219,000)
(191,000)
(142,000)
Other Financing Activities
(29,000)
(14,000)
18,000
(20,000)
Cash from Financing Activities
(582,000)
(1,151,000)
(899,000)
(1,515,000)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash