Loading…
Owns and operates local television stations across the US and the national CW television network.
Owns and operates local television stations across the US and the national CW television network.
Earns a large part from fees that cable, satellite and streaming TV distributors pay to carry its stations, alongside advertising sales, with political advertising lifting even-numbered years. Its 2019 purchase of Tribune Media added many stations, and it took control of The CW network in 2022.
Moat: narrow (scale, regulatory licence, distribution). Largest US local TV station owner by household reach, giving leverage in retransmission-fee negotiations.
Headquarters: Irving, Texas, US · Founded: 1996 · Employees: 12,832
Size Nexstar Media (NXST) is a United States Communication Services company (Broadcasting) with a market value of $5.85B, the 1081st largest of 3,117 United States companies the cockpit tracks. Shares closed at $190.02 on 6 Nov 2026.
Performance Over six months the shares fell 6.3%, against -0.5% for the median peer and -1.1% for the United States market (cap-weighted) — 3rd lowest of 13 in its peer set.
Growth Revenue grew 10.5% over the last twelve months (peer median +1.7%); the operating margin is 18.0% (peer median 9.6%).
Valuation It trades at 6.2× forward earnings against a peer median of 14.1× (2nd cheapest of 12).
Price implies For today's price to make sense, revenue must grow about 5% a year for seven years (Req g). Recent delivered growth is +2%, so the hurdle is +4 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 0.9 points below its cost of capital (6.8% WACC).
Credit Nexstar Media has 1 bond outstanding ($3.39B), rated BBB- by the agencies and trading like BB at a weighted spread of 194 bp.
Short interest Short interest is 9.1% of the free float (15 Oct 2026).
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $5.88B | $4.95B | $5.41B | $4.93B | $5.21B |
| Revenue growth | — | -8% | +10% | -5% | — |
| Gross profit | $2.39B | $1.93B | $2.38B | $1.84B | $2.54B |
| EBITDA | $1.88B | $1.65B | $2.10B | $1.68B | $2.10B |
| Net income | $166M | $92.0M | $702M | $346M | $971M |
| Free cash flow | $743M | $743M | $1.10B | $850M | $1.24B |
| Capital expenditure | $151M | $148M | $145M | $149M | $157M |
| Total debt | $12.1B | $6.62B | $6.81B | $7.13B | $7.24B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Nexstar Media NXST | $5.85B | -6% | +11% | 18% | 6.2× | 5.5% |
| Sinclair SBGI | $989M | -4% | -6% | 6% | 230.3× | 10.9% |
| Gray Media GTN | $520M | +11% | -11% | 14% | 2.7× | 2.2% |
| E. W. Scripps SSP | n/a | -33% | n/a | n/a | n/a | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | NXST | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +17.2% | +3.5% | 3rd highest of 13 |
| 6-month return | -6.3% | -0.5% | 3rd lowest of 13 |
| Distance from 52-week high | -25.3% | -12.8% | 5th lowest of 13 |
| Revenue growth (TTM) | +10.5% | +1.7% | 2nd highest of 13 |
| Operating margin | 18.0% | 9.6% | 5th highest of 13 |
| Forward P/E | 6.2× | 14.1× | 2nd cheapest of 12 |
| Growth the price implies (Req g, 7 yrs) | 5.5% | 0.1% | 5th most demanding of 11 |
| Growth delivered (Del g) | +1.9% | +2.1% | 5th lowest of 11 |
| Hurdle (Req g minus delivered) | +3.6 pp | -1.1 pp | 4th most demanding of 11 |
| ROIC minus cost of capital | -0.9 pp | -0.5 pp | 5th lowest of 13 |
| EV / EBITDA | 9.4× | 8.1× | 4th most expensive of 12 |
| Net debt / EBITDA | 6.3× | -0.6× | 2nd most indebted of 12 |
| Bond spread | 194 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Nexstar Media NXST | United States | $5.85B | -6% | +11% | 18% | 6.2× | 5.5% | +1.9% |
| Tbs 9401.T | Japan | $5.81B | +8% | +5% | 5% | 18.1× | n/a | n/a |
| Nippon Television 9404.T | Japan | $4.57B | -3% | +3% | 13% | 12.9× | -7.5% | +4.4% |
| Fuji Media 4676.T | Japan | $3.62B | +2% | +9% | 3% | 12.1× | n/a | n/a |
| SiriusXM SIRI | United States | $10.9B | +20% | +1% | 22% | 10.4× | -0.4% | +1.3% |
| SKY Perfect JSAT 9412.T | Japan | $3.13B | -50% | +8% | 30% | 17.2× | 6.2% | -1.8% |
| Sun TV Network SUNTV.NS | India | $2.48B | +4% | -5% | 38% | 14.2× | 9.5% | +6.4% |
| TV Asahi 9409.T | Japan | $2.15B | +3% | +4% | 7% | 14.5× | -0.9% | +5.1% |
| MFE-MediaForEurope MFEA.MI | Italy | $1.83B | -26% | +90% | 3% | 5.0× | 0.6% | +8.9% |
| Metropole Television MMT.PA | France | $1.60B | -4% | -2% | 11% | 12.5× | -0.9% | -0.3% |
| Hebei Broadcasting Wireless Media 301551.SZ | China | $1.58B | -4% | -1% | 35% | n/a | 20.7% | -0.8% |
| Television Francaise 1 TFI.PA | France | $1.53B | -6% | -3% | 8% | 14.7× | -7.5% | +2.0% |
| Atresmedia Corporacion de Medios de Comunicacion A3M.MC | Spain | $1.52B | +16% | +1% | 8% | 14.1× | 6.9% | +2.3% |
Nexstar Media has 1 bond outstanding with $3.39B face value. The agencies rate it BBB-; its bonds trade like BB. Weighted yield 6.79%, a spread of 194 bp over government bonds.