NXST

MKT CAP:$6B

Nexstar Media Group, Inc.

Market Cap

$6B

Communication Services·Entertainment·🇺🇸 United States·NASDAQ

Communication·Entertainment·🇺🇸·NASDAQ

Stock Price

$205.35-$3.49 (-1.67%)

Apr 20, 2026

Company Details

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...

CEO

Perry A. Sook

IPO Date

Nov 25, 2003

Website

www.nexstar.tv

Key Metrics TTM

Revenue

$4.9B

+14.7% YoY

Net Income

$938M

EPS (Diluted)

$22.76

Free Cash Flow

$1.3B

Revenue / Share

$123.38

Gross Margin

59.4%

Operating Margin

26.6%

Net Margin

19.2%

FCF Margin

27.3%

P/S

1.3x

P/E

6.6x

Earnings Reports

Q4 2022

May 14, 2026

PENDING

Q3 2022

Nov 8, 2022

$1.3B+9.7%EPS $7.31

Q2 2022

Aug 5, 2022

$1.2B+10.0%EPS $5.55

Q1 2022

May 10, 2022

$1.2BEPS $6.00

FY 2021

Feb 28, 2022

$4.6B+3.3%EPS $18.98

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 16	$310M	$204M	$92M
Q4 17	$654M	$378M	$141M
Q1 20	$1.1B	$647M	$305M
Q4 20	$1.4B	$941M	$531M
Q2 21	$1.1B	$669M	$288M
Q3 21	$1.2B	$677M	$277M
Q1 22	$1.2B	$720M	$329M
Q2 22	$1.2B	$743M	$334M
Q3 22	$1.3B	$758M	$356M

Valuation

Quarter	P/S	P/E
Q4 16	—	—
Q4 17	—	—
Q1 20	—	—
Q4 20	1.4x	5.2x
Q2 21	1.5x	5.8x
Q3 21	1.4x	7.5x
Q1 22	1.6x	7.8x
Q2 22	1.4x	7.9x
Q3 22	1.3x	6.9x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 16	$85M	$79M
Q4 17	$46M	$22M
Q1 20	$415M	$355M
Q4 20	$377M	$330M
Q2 21	$147M	$113M
Q3 21	$286M	$248M
Q1 22	$519M	$490M
Q2 22	$290M	$256M
Q3 22	$376M	$339M

Capital Expenditures

Quarter	CapEx
Q4 16	$6M
Q4 17	$24M
Q1 20	$60M
Q4 20	$47M
Q2 21	$35M
Q3 21	$38M
Q1 22	$29M
Q2 22	$34M
Q3 22	$37M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 21	+265.2%	+287.9%
Q3 21	+77.0%	+71.5%
Q1 22	+10.8%	+12.0%
Q2 22	-9.6%	+7.7%
Q3 22	+12.1%	+8.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 16	$2M	0.8%
Q4 17	$7M	1.0%
Q1 20	$11M	1.0%
Q4 20	$12M	0.9%
Q2 21	$10M	0.9%
Q3 21	$12M	1.1%
Q1 22	$13M	1.1%
Q2 22	$13M	1.0%
Q3 22	$17M	1.3%

OpEx Breakdown

Quarter	G&A	SG&A
Q4 16	$55M	—
Q4 17	$120M	—
Q1 20	—	$218M
Q4 20	—	$274M
Q2 21	—	$243M
Q3 21	—	$258M
Q1 22	—	$248M
Q2 22	—	$266M
Q3 22	$260M	—

Revenue Segments

Quarter	Broadcasting	Corporate And Other	Net Broadcast Revenue	Broadcast	Corporate and Other
Q4 16	$295M	$14M	—	—	—
Q1 20	—	—	$1.1B	—	—
Q4 20	—	$26M	—	$1.4B	—
Q2 21	—	$23M	—	$1.1B	—
Q3 21	—	$27M	—	$1.1B	—
Q3 22	—	—	—	$1.2B	$28M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$326M	$0	$326M
Q2 22	$276M	$0	$276M
Q3 22	$347M	$0	$347M
Q4 22	$204M	$0	$204M
Q1 23	$413M	$0	$413M
Q2 23	$346M	$0	$346M
Q3 23	$150M	$0	$150M
Q4 23	$135M	$0	$135M
Q1 24	$237M	$0	$237M
Q2 24	$146M	$0	$146M
Q3 24	$181M	$0	$181M
Q4 24	$144M	$0	$144M
Q1 25	$253M	$0	$253M
Q2 25	$234M	$0	$234M
Q3 25	$236M	$0	$236M
Q4 25	$280M	$0	$280M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 16	32M	—	—
Q4 17	48M	+49.4%	—
Q1 20	48M	+0.2%	—
Q4 20	46M	-4.0%	—
Q2 21	44M	-2.8%	+39.6%
Q3 21	43M	-2.1%	-8.5%
Q1 22	42M	-3.4%	-11.8%
Q2 22	41M	-2.6%	-10.5%
Q3 22	40M	-3.3%	-10.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 16	$68.5K	5K
Q4 17	$71.7K	9K
Q1 20	$67.4K	16K
Q4 20	$110.9K	12K
Q2 21	$91.2K	12K
Q3 21	$93.2K	12K
Q1 22	$97.0K	12K
Q2 22	$99.8K	12K
Q3 22	$101.7K	12K

Revenue / Employee