NEXSTAR MEDIA GROUP, INC.

Listed Company

NXSTCIK 0001142417NasdaqLarge AcceleratedTelevision Broadcasting StationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$4.95B

Net Income

$109.00M

Total Assets

$10.85B

Equity

$2.06B

Shares Out

30.54M

Op. Cash Flow

$891.00M

NXST$183.73−0.21% · past yearDBEQ Basic

Daily closing prices

Business

Nexstar Media Group is a diversified media company that produces and distributes local and national news, sports, and entertainment content across television and digital platforms. The company operates over 200 owned or partner stations in 116 U.S. markets and owns cable networks (The CW, NewsNation) and digital properties including The Hill. Revenue derives from distribution agreements with video distributors, advertising sales, and affiliation fees across broadcast stations, cable networks, and digital platforms.

Summary from 10-K filed 2026-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net revenue	4,949	5,407	4,933	5,211	4,648
Direct operating, excluding depreciation and amortization	2,235	2,221	2,153	2,005	1,862
Selling, general and administrative, excluding depreciation and amortization	1,063	1,088	1,098	1,098	1,024
Amortization of broadcast rights	314	324	453	—	—
Depreciation and amortization of intangible assets	471	484	488	662	589
Goodwill and long-lived asset impairments	14	24	35	133	23
Other	3	−2	−2	1	−5
Total operating expenses	4,100	4,139	4,225	3,899	3,473
Income from operations	849	1,268	708	1,312	1,175
Income from equity method investments, net (excluding impairment)	30	70	104	153	125
Impairment of an equity method investment	−381	—	—	—	—
Interest expense, net	−379	−444	−447	—	—
Pension and other postretirement plans credit, net	31	27	36	43	81
Gain on disposal of an investment	—	40	—	—	—
Other expenses, net	—	−2	—	—	—
Income before income taxes	150	959	401	1,217	1,093
Income tax expense	−67	−276	−131	−274	−263
Net income	83	683	270	943	830
Net loss attributable to noncontrolling interests	26	39	76	28	4
Net income attributable to Nexstar Media Group, Inc.	109	722	346	971	834
Basic	3.04	21.73	9.78	24.68	19.81
Diluted	3	21.41	9.64	24.16	18.98
Basic (in thousands)	30	32	35	39	42
Diluted (in thousands)	31	33	36	40	44

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	280	144	135	204	191
Accounts receivable, net of allowance for credit losses of $18 and $16, respectively	1,075	1,028	1,095	1,080	1,021
Broadcast rights	61	84	136	194	46
Prepaid expenses and other current assets	57	41	88	121	139
Total current assets	1,473	1,297	1,466	1,615	1,413
Property and equipment, net	1,158	1,207	1,269	1,262	1,513
Goodwill	2,910	2,922	2,946	2,961	3,052
FCC licenses	2,949	2,929	2,929	2,910	2,910
Intangible assets, net	1,587	1,847	2,124	2,434	2,717
Investments	396	877	958	1,119	1,219
Other noncurrent assets, net	373	389	386	378	396
Total assets	10,846	11,468	12,078	12,679	13,265
Current portion of debt	111	124	124	124	47
Accounts payable	133	133	235	198	248
Broadcast rights payable	48	97	136	—	—
Accrued expenses	314	314	350	319	316
Operating lease liabilities	41	37	47	50	43
Other current liabilities	64	78	116	51	56
Total current liabilities	711	783	961	893	787
Debt	6,222	6,399	6,713	6,827	7,368
Deferred tax liabilities	1,354	1,487	1,520	1,606	1,729
Other noncurrent liabilities	497	531	571	584	523
Total liabilities	8,784	9,200	9,765	9,910	10,407
Commitments and contingencies (Note 11)	—	—	—	—	—
Redeemable noncontrolling interests (Note 2)	19	26	0	—	—
Preferred stock - $0.01 par value, 200,000 shares authorized; none issued and outstanding at each of December 31, 2025 and December 31, 2024	—	—	—	—	—
Common stock - $0.01 par value, 100,000,000 shares authorized; 47,282,823 shares issued, 30,327,669 shares outstanding as of December 31, 2025 and 47,282,823 shares issued, 30,621,241 shares outstanding as of December 31, 2024	—	—	—	—	500,000
Additional paid-in capital	1,331	1,304	1,283	1,288	1,311
Accumulated other comprehensive loss	−15	−1	1	27	142
Retained earnings	3,537	3,671	3,188	3,033	2,204
Treasury stock - at cost; 16,955,154 and 16,661,582 shares as of December 31, 2025 and December 31, 2024, respectively	−2,789	−2,717	−2,173	−1,607	−807
Total Nexstar Media Group, Inc. stockholders equity	2,064	2,257	2,299	2,741	2,850
Noncontrolling interests	−21	−15	14	28	7
Total stockholders' equity	2,043	2,242	2,313	2,769	2,857
Total liabilities, redeemable noncontrolling interests and stockholders' equity	10,846	11,468	12,078	12,679	13,265

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Stock-based compensation expense	78	78	60	62	47
Amortization of debt financing costs, debt discounts and premium	8	12	11	13	15
Gain on disposal of an investment	—	−40	—	—	—
Deferred income taxes	−129	−33	−77	−103	5
Payments for broadcast rights	−343	−325	−417	−244	−167
Distribution from equity method investments - return on capital	137	154	270	250	239
Accounts receivable	−47	68	−13	−12	−109
Prepaid expenses and other current assets	−1	−1	−4	10	−5
Other noncurrent assets	6	−10	−24	−1	35
Accounts payable	4	−98	32	−50	28
Accrued expenses and other current liabilities	—	−26	29	−19	4
Income tax payable	−14	52	37	10	−48
Other noncurrent liabilities	−54	−36	−48	−52	−118
Other	13	10	1	10	−8
Net cash provided by operating activities	891	1,250	999	1,403	1,215
Purchases of property and equipment	−148	−145	−149	−157	−151
Payments for acquisitions, net of cash acquired	−22	—	−38	—	−138
Deposits received associated with the sale of real estate assets	—	—	10	10	13
Proceeds from disposal of an investment	—	40	—	—	—
Other investing activities, net	−3	3	4	2	6
Net cash used in investing activities	−173	−102	−173	125	−232
Proceeds from debt issuance, net of debt discounts	3,393	55	20	2,480	321
Repayments of long-term debt	−3,595	−382	−145	−2,960	−590
Purchase of treasury stock	−125	−601	−605	−881	−537
Common stock dividends paid	−226	−219	−191	−142	−118
Contribution from noncontrolling interests	—	19	62	30	300,000
Payments for capitalized software obligations	−20	−19	−19	−16	—
Cash paid for shares withheld for taxes	−1	−8	−24	−12	−11
Proceeds from exercise of stock options	—	10	4	8	8
Other financing activities, net	−8	−6	−1	−8	7
Net cash used in financing activities	−582	−1,151	−899	−1,515	−945
Net increase (decrease) in cash, cash equivalents and restricted cash	136	−3	−73	13	38
Interest paid	372	431	437	330	273
Income taxes paid, net of refunds	208	254	169	370	320
Purchases of property and equipment in accounts payable and accruals	3	7	13	10	11
Capitalized software in other current and noncurrent liabilities	24	11	29	—	—
Right-of-use assets obtained in exchange for operating lease obligations	52	39	54	50	45

Filings

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Frequently asked questions

What is NEXSTAR MEDIA GROUP, INC.'s CIK number?

NEXSTAR MEDIA GROUP, INC.'s SEC CIK number is 0001142417 (1142417). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find NEXSTAR MEDIA GROUP, INC.'s SEC filings?

All of NEXSTAR MEDIA GROUP, INC.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did NEXSTAR MEDIA GROUP, INC. last report earnings?

NEXSTAR MEDIA GROUP, INC. (NXST) most recently filed an earnings 8-K with the SEC on May 7, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001142417-26-000027). This is NEXSTAR MEDIA GROUP, INC.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is NEXSTAR MEDIA GROUP, INC.'s most recent earnings 8-K?

NEXSTAR MEDIA GROUP, INC.'s latest earnings 8-K (Item 2.02) was filed May 7, 2026 under accession 0001142417-26-000027. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

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