Nexstar Media Group Inc Stock Research

NXST Alerts

2 major insider sales recently.

NXST Stock Price

NXST RSI Chart

NXST Valuation

Market Cap

6.3B

Price/Earnings (Trailing)

6.48

Price/Sales (Trailing)

1.21

EV/EBITDA

8.6

Price/Free Cashflow

5.05

NXST Price/Sales (Trailing)

NXST Profitability

EBT Margin

23.36%

Return on Equity

35.43%

Return on Assets

7.66%

Free Cashflow Yield

19.8%

NXST Fundamentals

NXST Revenue

Revenue (TTM)

5.2B

Revenue Y/Y

19.33%

Revenue Q/Q

17.15%

NXST Earnings

Earnings (TTM)

971.1M

Earnings Y/Y

-22.96%

Earnings Q/Q

-29.58%

Price Action

Last 7 days

1.9%

Last 30 days

-5.9%

Last 90 days

4.8%

Trailing 12 Months

-2.3%

NXST Financial Health

Current Ratio

1.81

Debt/Equity

2.62

Debt/Cashflow

0.2

NXST Investor Care

Dividend Yield

2.11%

Dividend/Share (TTM)

3.6

Buy Backs (1Y)

9.68%

Diluted EPS (TTM)

24.16

Peers (Alternatives to Nexstar Media Group)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
CHTR	54.7B	54.0B	-14.54%	-39.92%	10.83	1.01	4.53%	8.62%
SIRI	14.0B	9.0B	-22.72%	-41.04%	11.58	1.56	3.53%	-7.69%
MID-CAP
NXST	6.3B	5.2B	-5.92%	-2.26%	6.48	1.21	12.10%	16.37%
NYT	6.2B	2.3B	-7.33%	-16.13%	35.43	2.67	11.25%	-20.94%
DISH	5.1B	16.7B	-29.07%	-66.45%	2.13	0.3	-6.72%	-3.38%
CABO	3.8B	1.7B	-18.30%	-56.21%	16.03	2.2	6.24%	-19.77%
SMALL-CAP
ATUS	1.6B	9.6B	-22.22%	-67.63%	8.15	0.16	-4.39%	-80.35%
SBGI	992.0M	3.9B	-28.22%	-46.56%	0.37	0.25	-35.94%	740.58%
AMCX	708.7M	3.1B	-9.66%	-56.87%	93.32	0.23	0.62%	-96.97%
IHRT	706.1M	3.9B	-36.10%	-75.26%	-2.67	0.18	9.95%	-66.25%
EVC	491.0M	893.8M	-7.18%	-3.84%	21.06	0.55	28.05%	-53.48%
UONE	344.1M	483.5M	17.16%	40.04%	8.15	0.71	14.03%	-27.43%
TSQ	140.7M	453.4M	12.88%	-26.82%	12.38	0.31	9.02%	-45.63%
CMLS	77.5M	953.5M	-31.90%	-59.00%	4.77	0.08	4.04%	-6.04%

Financials for Nexstar Media Group

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	4.8%	5,211	4,970	4,858	4,745	4,648
S&GA Expenses	4.4%	1,102	1,055	1,053	1,029	1,024
EBITDA	-2.6%	1,543	1,584	1,047	1,477	-
EBITDA Margin	-7.1%	0.30*	0.32*	0.22*	0.31*	-
Earnings Before Taxes	-6.4%	1,217	1,300	1,166	1,138	1,093
EBT Margin	-10.7%	0.23*	0.26*	0.24*	0.24*	-
Interest Expenses	-11.0%	-336	-303	-285	-279	-282
Net Income	-5.9%	971	1,032	913	885	835
Net Income Margin	-10.2%	0.19*	0.21*	0.19*	0.19*	-
Free Cahsflow	-9.2%	1,246	1,373	1,281	1,138	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	-3.2%	12,679	13,098	12,916	13,091	13,265
Current Assets	-3.1%	1,615	1,666	1,455	1,482	1,413
Cash Equivalents	-41.1%	204	347	276	326	191
Net PPE	-15.3%	1,262	1,491	1,493	1,502	1,513
Goodwill	-3.0%	2,961	3,052	3,052	3,052	3,052
Liabilities	-2.4%	9,910	10,150	10,046	10,169	10,407
Current Liabilities	-2.4%	893	915	746	734	787
Long Term Debt	-0.8%	7,177	7,234	7,260	7,415	-
LT Debt, Current	0%	124	124	124	55.00	47.00
LT Debt, Non Current	-3.2%	6,827	7,053	7,110	7,205	7,368
Shareholder's Equity	-6.3%	2,741	2,926	2,869	2,922	2,850
Retained Earnings	5.9%	3,033	2,864	2,610	2,419	2,204
Additional Paid-In Capital	1.3%	1,288	1,271	1,258	1,269	1,311
Accumulated Depreciation	-	738	-	-	-	-
Shares Outstanding	-3.8%	37.00	38.00	39.00	41.00	41.00
Minority Interest	26.9%	28.00	22.00	-0.60	6.00	7.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	-7.6%	1,403	1,518	1,428	1,285	1,215
Share Based Compensation	10.4%	62.00	56.00	51.00	48.00	47.00
Cashflow From Investing	354.5%	125	-49.20	-203	-231	-232
Cashflow From Financing	-15.0%	-1,515	-1,317	-1,262	-1,068	-945
Dividend Payments	3.8%	142	137	131	125	118
Buy Backs	16.7%	881	755	684	574	537

Risks for NXST

What is the probability of a big loss on NXST?

59.6%

Probability that Nexstar Media Group stock will be more than 20% underwater in next one year

20%

Probability that Nexstar Media Group stock will be more than 30% underwater in next one year.

19.6%

Probability that Nexstar Media Group stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does NXST drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Nexstar Media Group was unfortunately bought at previous high price.

Drawdowns

Returns for NXST

Cumulative Returns on NXST

34.0%

10-Year Cumulative Returns

21.7%

7-Year Cumulative Returns

22.3%

5-Year Cumulative Returns

18.5%

3-Year Cumulative Returns

What are the long-term rolling returns for NXST?

FIve years rolling returns for Nexstar Media Group.

Annualized Returns

Which funds bought or sold NXST recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-15	B. Riley Wealth Advisors, Inc.	reduced	-5.28	-4,968	675,032	0.02%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	reduced	-13.38	-2,796,020	27,808,000	0.03%
2023-03-06	Rockefeller Capital Management L.P.	reduced	-0.89	11,000	291,000	-%
2023-02-28	Voya Investment Management LLC	added	50.95	2,081,870	5,647,870	0.01%
2023-02-24	SRS Capital Advisors, Inc.	reduced	-2.78	106	6,106	-%
2023-02-22	CVA Family Office, LLC	reduced	-14.29	-749	5,251	-%
2023-02-22	TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY	new	-	1,068,000	1,068,000	0.01%
2023-02-21	Empowered Funds, LLC	added	138	1,340,030	2,233,030	0.15%
2023-02-21	NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO	added	22.51	64,489	292,489	-%
2023-02-21	NORTHWESTERN MUTUAL INVESTMENT MANAGEMENT COMPANY, LLC	new	-	610,855	610,855	0.02%

Latest Funds Activity

Are funds buying NXST calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own NXST

No. of Funds

NXST Alerts

2 major insider sales recently.

Nexstar Media Group News

Schedule 13G FIlings of Nexstar Media Group

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 10, 2023	neuberger berman group llc	4.49%	1,693,280	SC 13G/A
Feb 09, 2023	fmr llc	-	0	SC 13G/A
Feb 09, 2023	vanguard group inc	9.17%	3,459,083	SC 13G/A
Feb 03, 2023	blackrock inc.	8.9%	3,369,622	SC 13G
Feb 14, 2022	neuberger berman group llc	5.10%	2,085,124	SC 13G/A
Feb 09, 2022	fmr llc	-	0	SC 13G/A
Feb 16, 2021	park west asset management llc	1.4%	624,000	SC 13G/A
Feb 11, 2021	neuberger berman group llc	5.00%	2,200,583	SC 13G/A
Feb 10, 2021	vanguard group inc	8.52%	3,751,392	SC 13G/A
Feb 08, 2021	fmr llc	-	0	SC 13G/A

NXST Fair Value

Nexstar Media Group fair value in different scenarios

The table shows the Fair Value estimates for Nexstar Media Group for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	516.62 -	783.83 -	1187.95 -	1955.25 -	2298.74 -
Current Inflation	471.68 -	702.58 -	1043.51 -	1690.36 -	1976.54 -
Very High Inflation	416.29 -	604.69 -	873.49 -	1383.85 -	1606.07 -

Historical Nexstar Media Group Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Nexstar Media Group

View All Filings

Date Filed	Form Type	Document
Mar 16, 2023	4	Insider Trading
Mar 08, 2023	4	Insider Trading
Mar 08, 2023	4	Insider Trading
Mar 07, 2023	4	Insider Trading
Mar 06, 2023	144	Notice of Insider Sale Intent
Mar 03, 2023	4	Insider Trading
Feb 28, 2023	10-K	Annual Report
Feb 28, 2023	8-K	Current Report
Feb 10, 2023	SC 13G/A	Major Ownership Report
Feb 09, 2023	SC 13G/A	Major Ownership Report

Latest Insider Trading transactions for NXST

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-07	COMPTON SEAN	sold	-439,625	175	-2,500	president, networks
2023-03-06	Carter Thomas	acquired	64,442	46.03	1,400	president and coo
2023-03-06	Carter Thomas	sold	-256,083	182	-1,400	president and coo
2023-03-03	McNabb Lisbeth	acquired	621,405	46.03	13,500	-
2023-03-03	McNabb Lisbeth	sold (taxes)	-621,460	182	-3,398	-
2023-01-15	SOOK PERRY A	acquired	-	-	-	chief executive officer
2023-01-15	SOOK PERRY A	acquired	39,169,800	183	213,541	chief executive officer
2023-01-15	SOOK PERRY A	sold (taxes)	-15,267,400	183	-83,233	chief executive officer
2022-12-23	Russell Blake	gifted	-	-	-103	evp, station operations
2022-12-23	FITZSIMONS DENNIS J	sold	-176,200	176	-1,000	-

About Nexstar Media Group

Perry A. Sook

www.nexstar.tv

12500

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. The company offers free programming to television viewing audiences. As of December 31, 2020, it provided sales, programming, and other services through various local service agreements to 37 power television stations owned by independent third parties; and owned, operated, programmed, or provided sales and other services to 198 television stations. The company also offers video and display advertising platforms that are delivered locally or nationally through its own and various third party websites and mobile applications, as well as owns WGN America, a national general entertainment cable network. Its stations are affiliates of ABC, NBC, FOX, CBS, The CW, MyNetworkTV, and other broadcast television networks. The company was formerly known as Nexstar Broadcasting Group, Inc. and changed its name to Nexstar Media Group, Inc. in January 2017. Nexstar Media Group, Inc. was founded in 1996 and is headquartered in Irving, Texas.

NXST Income Statement

2022-12-31

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues [Abstract]
Net revenue	$ 5,211.0	$ 4,648.4	$ 4,501.3
Operating expenses (income):
Direct operating expenses, excluding depreciation and amortization	2,004.8	1,862.4	1,720.5
Selling, general and administrative expenses, excluding depreciation and amortization	1,101.9	1,024.2	912.1
Depreciation and amortization expense	662.1	588.6	564.9
Goodwill and other long-lived asset impairments	132.9	23.0
Spectrum repack reimbursements	(2.8)	(19.7)	(57.3)
Gain on relinquishment of spectrum			(10.8)
Other		(5.5)	(3.5)
Total operating expenses	3,898.9	3,473.0	3,125.9
Income from operations	1,312.1	1,175.4	1,375.4
Gain on bargain purchase	55.6
Income from equity method investments, net	153.4	124.6	70.2
Interest expense, net	(336.6)	(282.7)	(335.3)
Loss on extinguishment of debt	(2.9)	(3.2)	(50.7)
Pension and other postretirement plans credit, net	43.1	80.9	46.0
Other expenses, net	(7.6)	(1.7)	(1.0)
Income before income taxes	1,217.1	1,093.3	1,104.6
Income tax expense	(273.6)	(262.9)	(296.5)
Net income	943.5	830.4	808.1
Net loss attributable to noncontrolling interests	27.6	4.1	3.4
Net income attributable to Nexstar Media Group, Inc.	$ 971.1	$ 834.5	$ 811.5
Net income per common share attributable to Nexstar Media Group, Inc.:
Basic	$ 24.68	$ 19.81	$ 18.06
Diluted	$ 24.16	$ 18.98	$ 17.37
Weighted average number of common shares outstanding:
Basic (in thousands)	39,349	42,133	44,921
Diluted (in thousands)	40,187	43,982	46,720
Net income	$ 943.5	$ 830.4	$ 808.1
Other comprehensive income (loss):
Change in unrecognized amounts included in pension and other postretirement benefit obligations, net of tax benefit (expense) of $39.2 in 2022, ($36.7) in 2021, and ($5.0) in 2020	(114.4)	107.1	14.6
Total comprehensive income	829.1	937.5	822.7
Total comprehensive loss attributable to noncontrolling interests	27.6	4.1	3.4
Total comprehensive income attributable to Nexstar Media Group, Inc.	$ 856.7	$ 941.6	$ 826.1

NXST Balance Sheet

2022-12-31

CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions

Dec. 31, 2022

Dec. 31, 2021

Current assets:

Cash and cash equivalents

$ 204.1

$ 190.9

Restricted cash and cash equivalents

15.6

Accounts receivable, net of allowance for credit losses of $18.4 and $23.1, respectively

1,079.4

1,021.0

Broadcast rights

194.0

46.4

Prepaid expenses and other current assets

121.4

138.8

Total current assets

1,614.5

1,412.7

Property and equipment, net

1,262.4

1,512.5

Goodwill

2,960.8

3,051.6

FCC licenses

2,910.3

Intangible assets, net

2,434.2

2,717.1

Investments

1,119.0

1,218.8

Assets held for sale

45.3

Other noncurrent assets, net

377.7

396.2

Total assets

^[1]

12,678.9

13,264.5

Current liabilities:

Current portion of debt

124.3

47.2

Accounts payable

197.7

248.2

Broadcast rights payable

151.0

76.9

Accrued expenses

319.5

315.9

Operating lease liabilities

49.6

42.8

Other current liabilities

51.1

56.3

Total current liabilities

893.2

787.3

Debt

6,827.2

7,367.9

Deferred tax liabilities

1,605.6

1,728.5

Other noncurrent liabilities

583.6

523.3

Total liabilities

^[1]

9,909.6

10,407.0

Commitments and contingencies (Note 16)

Stockholders' equity:

Preferred stock - $0.01 par value, 200,000 shares authorized; none issued and outstanding at each of December 31, 2022 and December 31, 2021

Common stock - $0.01 par value, 100,000,000 shares authorized; 47,282,823 shares issued, 36,810,186 shares outstanding as of December 31, 2022 and 47,291,463 shares issued, 40,757,429 shares outstanding as of December 31, 2021

0.5

Additional paid-in capital

1,287.5

1,311.1

Accumulated other comprehensive income

26.9

141.6

Retained earnings

3,033.1

2,204.2

Treasury stock - at cost; 10,472,637 and 6,534,034 shares as of December 31, 2022 and December 31, 2021, respectively

(1,607.0)

(807.0)

Total Nexstar Media Group, Inc. stockholders’ equity

2,741.0

2,850.4

Noncontrolling interests

28.3

7.1

Total stockholders' equity

2,769.3

2,857.5

Total liabilities and stockholders’ equity

12,678.9

13,264.5

Network affiliation agreements [Member]

Current assets:

Intangible assets, net

1,871.4

2,060.2

Other Intangible Assets [Member]

Current assets:

Intangible assets, net

$ 562.8

$ 656.9

[1]

The consolidated total assets as of December 31, 2022 and 2021 include certain assets held by consolidated VIEs of $304.8 million and $309.7 million, respectively, which are not available to be used to settle the obligations of Nexstar. The consolidated total liabilities as of December 31, 2022 and 2021 include certain liabilities of consolidated VIEs of $148.4 million and $168.0 million, respectively, for which the creditors of the VIEs have no recourse to the general credit of Nexstar. See Note 2 for additional information.