Nexstar Media Group Inc. (NXST) financial statements: income statement, balance sheet and cash flow
Nexstar Media Group Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Nexstar Media Group Inc. reported revenue of $4.9B (-8.5% year on year) and net income of $109.0M (-84.9% year on year).
Income statement
Nexstar Media Group Inc. income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net revenue
$4.9B
$5.4B
$4.9B
$5.2B
Direct operating, excluding depreciation and amortization
$2.2B
$2.2B
$2.2B
$2.0B
Selling, general and administrative, excluding depreciation and amortization
$1.1B
$1.1B
$1.1B
$1.1B
Amortization of broadcast rights
$314.0M
—
—
—
Depreciation and amortization of intangible assets
$471.0M
$808.0M
$941.0M
$662.1M
Goodwill and long-lived asset impairments
$14.0M
$24.0M
$35.0M
—
Other
$3.0M
($2.0M)
—
—
Total operating expenses
$4.1B
$4.1B
$4.2B
$3.9B
Income from operations
$849.0M
$1.3B
$708.0M
$1.3B
Income from equity method investments, net (excluding impairment)
$30.0M
$70.0M
$104.0M
$153.4M
Impairment of an equity method investment
($381.0M)
—
—
—
Interest expense, net
($379.0M)
($444.0M)
($447.0M)
($336.6M)
Pension and other postretirement plans credit, net
$31.0M
$27.0M
$36.0M
$43.1M
Income before income taxes
$150.0M
$959.0M
$401.0M
$1.2B
Income tax expense
($67.0M)
($276.0M)
($131.0M)
($273.6M)
Net income
$83.0M
$683.0M
$270.0M
$943.5M
Net loss attributable to noncontrolling interests
$26.0M
$39.0M
$76.0M
$27.6M
Net income attributable to Nexstar Media Group, Inc.
$109.0M
$722.0M
$346.0M
$971.1M
Basic
$3.04
$21.73
$9.78
$24.68
Diluted
$3.00
$21.41
$9.64
$24.16
Basic (in thousands)
30.3M
32.3M
35.3M
39.3M
Diluted (in thousands)
30.7M
32.8M
35.8M
40.2M
Nexstar Media Group Inc. income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Net revenue
$2.0B
$1.4B
$1.2B
$1.2B
Direct operating, excluding depreciation and amortization
$929.0M
$611.0M
$562.0M
$557.0M
Selling, general and administrative, excluding depreciation and amortization
$457.0M
$327.0M
$270.0M
$262.0M
Amortization of broadcast rights
$87.0M
$72.0M
—
—
Depreciation and amortization of intangible assets
$158.0M
$121.0M
$190.0M
$197.0M
Total operating expenses
$1.6B
$1.1B
$1.0B
$1.0B
Income from operations
$362.0M
$265.0M
$175.0M
$213.0M
Income from equity method investments, net
$3.0M
$4.0M
$5.0M
$11.0M
Interest expense, net
($190.0M)
($120.0M)
($94.0M)
($97.0M)
Pension and other postretirement plans credit, net
$8.0M
$7.0M
$7.0M
$8.0M
Loss on extinguishment of debt
($8.0M)
—
—
—
Other income, net
$2.0M
—
—
—
Income before income taxes
$177.0M
$153.0M
$96.0M
$130.0M
Income tax expense
($64.0M)
$7.0M
($31.0M)
($39.0M)
Net income
$113.0M
$160.0M
$65.0M
$91.0M
Net loss attributable to noncontrolling interests
$7.0M
$4.0M
$5.0M
$6.0M
Net income attributable to Nexstar Media Group, Inc.
$120.0M
$164.0M
$70.0M
$97.0M
Basic
$3.65
$5.22
$2.16
$3.09
Diluted
$3.61
$5.09
$2.14
$3.06
Basic (in thousands)
30.6M
30.4M
30.3M
30.2M
Diluted (in thousands)
30.9M
31.2M
30.6M
30.5M
Balance sheet
Nexstar Media Group Inc. balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$280.0M
$144.0M
$135.0M
$204.1M
Accounts receivable, net of allowance for credit losses of $18 and $16, respectively
$1.1B
$1.0B
$1.1B
$1.1B
Broadcast rights
$61.0M
$84.0M
$136.0M
$194.0M
Prepaid expenses and other current assets
$57.0M
$41.0M
$88.0M
$121.4M
Total current assets
$1.5B
$1.3B
$1.5B
$1.6B
Property and equipment, net
$1.2B
$1.2B
$1.3B
$1.3B
Goodwill
$2.9B
$2.9B
$2.9B
$3.0B
FCC licenses
$2.9B
$2.9B
$2.9B
$2.9B
Intangible assets, net
$1.6B
$1.8B
$2.1B
$2.4B
Investments
$396.0M
$877.0M
$958.0M
$1.1B
Other noncurrent assets, net
$373.0M
$389.0M
$386.0M
$377.7M
Total assets
$10.8B
$11.5B
$12.1B
$12.7B
Current portion of debt
$111.0M
$124.0M
$124.0M
$124.3M
Accounts payable
$133.0M
$133.0M
$235.0M
$197.7M
Broadcast rights payable
$48.0M
$97.0M
$136.0M
$151.0M
Accrued expenses
$314.0M
$314.0M
$350.0M
$319.5M
Operating lease liabilities
$41.0M
—
$47.0M
$49.6M
Other current liabilities
$64.0M
$115.0M
$69.0M
$51.1M
Total current liabilities
$711.0M
$783.0M
$961.0M
$893.2M
Debt
$6.2B
$6.4B
$6.7B
$6.8B
Deferred tax liabilities
$1.4B
$1.5B
$1.5B
$1.6B
Other noncurrent liabilities
$497.0M
$531.0M
$571.0M
$583.6M
Total liabilities
$8.8B
$9.2B
$9.8B
$9.9B
Redeemable noncontrolling interests (Note 2)
$19.0M
$26.0M
—
—
Additional paid-in capital
$1.3B
$1.3B
$1.3B
$1.3B
Accumulated other comprehensive loss
($15.0M)
($1.0M)
$1.0M
$26.9M
Retained earnings
$3.5B
$3.7B
$3.2B
$3.0B
Treasury stock - at cost; 16,955,154 and 16,661,582 shares as of December 31, 2025 and December 31, 2024, respectively
-2.8B
-2.7B
-2.2B
-1.6B
Total Nexstar Media Group, Inc. stockholders’ equity
$2.1B
$2.3B
$2.3B
$2.7B
Noncontrolling interests
($21.0M)
($15.0M)
$14.0M
$28.3M
Total stockholders' equity
$2.0B
$2.2B
$2.3B
$2.8B
Total liabilities, redeemable noncontrolling interests and stockholders' equity
$10.8B
$11.5B
$12.1B
$12.7B
Nexstar Media Group Inc. balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$218.0M
$379.0M
$236.0M
$234.0M
Accounts receivable, net of allowance for credit losses of $26 and $18, respectively
$1.6B
$1.7B
$1.0B
$1.0B
Broadcast rights
$61.0M
$78.0M
$62.0M
$54.0M
Prepaid expenses and other current assets
$142.0M
$111.0M
$82.0M
$80.0M
Total current assets
$2.0B
$2.3B
$1.4B
$1.4B
Property and equipment, net
$1.8B
$1.9B
$1.2B
$1.2B
Goodwill
$5.0B
$5.0B
$2.9B
$2.9B
FCC licenses
$5.1B
$5.1B
$2.9B
$2.9B
Intangible assets, net
$2.9B
$3.0B
$1.7B
$1.7B
Investments
$387.0M
$367.0M
$774.0M
$776.0M
Other noncurrent assets, net
$442.0M
$461.0M
$388.0M
$380.0M
Total assets
$17.7B
$18.1B
$11.2B
$11.3B
Current portion of debt
$331.0M
$274.0M
$111.0M
$108.0M
Accounts payable
$162.0M
$200.0M
$100.0M
$190.0M
Broadcast rights payable
$58.0M
$74.0M
$71.0M
$82.0M
Accrued expenses
$589.0M
$591.0M
$353.0M
$332.0M
Operating lease liabilities
$54.0M
$52.0M
$41.0M
—
Other current liabilities
$90.0M
$108.0M
$69.0M
$111.0M
Total current liabilities
$1.3B
$1.3B
$745.0M
$823.0M
Debt
$11.4B
$11.9B
$6.2B
$6.3B
Deferred tax liabilities
$2.2B
$2.1B
$1.5B
$1.5B
Other noncurrent liabilities
$600.0M
$617.0M
$505.0M
$511.0M
Total liabilities
$15.5B
$15.9B
$9.0B
$9.1B
Redeemable noncontrolling interests (Note 2)
$23.0M
$22.0M
$17.0M
$18.0M
Additional paid-in capital
$1.3B
$1.3B
$1.3B
$1.3B
Accumulated other comprehensive loss
($15.0M)
($15.0M)
($1.0M)
($1.0M)
Retained earnings
$3.7B
$3.6B
$3.8B
$3.8B
Treasury stock - at cost; 16,476,449 and 16,955,154 shares as of June 30, 2026 and December 31, 2025, respectively
-2.7B
-2.8B
-2.8B
-2.8B
Total Nexstar Media Group, Inc. stockholders' equity
$2.3B
$2.2B
$2.3B
$2.3B
Noncontrolling interests
($24.0M)
($22.0M)
($19.0M)
($18.0M)
Total stockholders' equity
$2.2B
$2.1B
$2.3B
$2.2B
Total liabilities, redeemable noncontrolling interests and stockholders' equity
$17.7B
$18.1B
$11.2B
$11.3B
Cash flow statement
Nexstar Media Group Inc. cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income
$83.0M
$683.0M
$270.0M
$943.5M
Amortization of broadcast rights
$314.0M
—
—
—
Depreciation and amortization of intangible assets
$471.0M
$808.0M
$941.0M
$662.1M
Goodwill and long-lived asset impairments
$14.0M
—
—
—
Stock-based compensation expense
$78.0M
$78.0M
$60.0M
$61.6M
Amortization of debt financing costs, debt discounts and premium
$8.0M
$12.0M
$11.0M
$13.0M
Deferred income taxes
($129.0M)
($33.0M)
($77.0M)
($102.6M)
Payments for broadcast rights
($343.0M)
($325.0M)
($417.0M)
($244.3M)
Income from equity method investments, net (excluding impairment)
($30.0M)
($70.0M)
($104.0M)
($153.4M)
Impairment of an equity method investment
$381.0M
—
—
—
Distribution from equity method investments - return on capital
$137.0M
$154.0M
$270.0M
$249.6M
Accounts receivable
($47.0M)
$68.0M
($13.0M)
($11.6M)
Prepaid expenses and other current assets
($1.0M)
($1.0M)
($4.0M)
$10.1M
Other noncurrent assets
$6.0M
($10.0M)
($24.0M)
($1.2M)
Accounts payable
$4.0M
($98.0M)
$32.0M
($49.7M)
Income tax payable
($14.0M)
$52.0M
$37.0M
$10.3M
Other noncurrent liabilities
($54.0M)
($36.0M)
($48.0M)
($52.6M)
Other
$13.0M
$10.0M
$1.0M
$9.6M
Net cash provided by operating activities
$891.0M
$1.3B
$999.0M
$1.4B
Purchases of property and equipment
($148.0M)
($145.0M)
($149.0M)
($157.3M)
Payments for acquisitions, net of cash acquired
($22.0M)
—
($38.0M)
—
Other investing activities, net
($3.0M)
($2.0M)
($4.0M)
($1.0M)
Net cash used in investing activities
($173.0M)
($102.0M)
($173.0M)
$125.2M
Proceeds from debt issuance, net of debt discounts
$3.4B
$55.0M
$20.0M
$2.5B
Repayments of long-term debt
($3.6B)
($382.0M)
($145.0M)
($3.0B)
Purchase of treasury stock
($125.0M)
($601.0M)
($605.0M)
($880.7M)
Common stock dividends paid
($226.0M)
($219.0M)
($191.0M)
($142.2M)
Payments for capitalized software obligations
($20.0M)
($19.0M)
($19.0M)
($16.3M)
Cash paid for shares withheld for taxes
-1.0M
-8.0M
-24.0M
-12.6M
Other financing activities, net
($8.0M)
($6.0M)
$3.0M
$700.0K
Net cash used in financing activities
($582.0M)
($1.2B)
($899.0M)
($1.5B)
Net increase (decrease) in cash, cash equivalents and restricted cash
$136.0M
($3.0M)
($73.0M)
$13.2M
Cash, cash equivalents and restricted cash at beginning of period
$144.0M
$147.0M
$220.0M
$206.5M
Cash, cash equivalents and restricted cash at end of period
$280.0M
$144.0M
$147.0M
$219.7M
Interest paid
$372.0M
$431.0M
$437.0M
$330.1M
Income taxes paid, net of refunds
$208.0M
$254.0M
$169.0M
$369.9M
Purchases of property and equipment in accounts payable and accruals
$3.0M
$7.0M
$13.0M
$9.9M
Capitalized software in other current and noncurrent liabilities
$24.0M
—
—
—
Right-of-use assets obtained in exchange for operating lease obligations
$52.0M
$39.0M
$54.0M
$49.5M
Nexstar Media Group Inc. cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net income
$273.0M
$160.0M
$253.0M
$188.0M
Amortization of broadcast rights
$159.0M
$72.0M
—
—
Depreciation and amortization of intangible assets
$279.0M
$121.0M
$592.0M
$402.0M
Stock-based compensation expense
$60.0M
$20.0M
$58.0M
$39.0M
Amortization of debt financing costs, debt discounts and premium
$5.0M
—
$6.0M
$5.0M
Loss on extinguishment of debt
$10.0M
—
—
$5.0M
Deferred income taxes
($46.0M)
($51.0M)
($20.0M)
($24.0M)
Payments for broadcast rights
($147.0M)
($62.0M)
($249.0M)
($161.0M)
Income from equity method investments, net
($7.0M)
($4.0M)
($24.0M)
($19.0M)
Distribution from equity method investments - return on capital
$96.0M
$84.0M
$131.0M
$125.0M
Accounts receivable
$96.0M
$34.0M
$15.0M
$6.0M
Prepaid and other current assets
$22.0M
($6.0M)
$6.0M
($6.0M)
Other noncurrent assets
$6.0M
($5.0M)
$3.0M
$5.0M
Accounts payable
($64.0M)
($31.0M)
($30.0M)
$60.0M
Accrued expenses and other current liabilities
($76.0M)
($78.0M)
$44.0M
$20.0M
Income tax payable
($50.0M)
$43.0M
($45.0M)
($38.0M)
Other noncurrent liabilities
($29.0M)
($13.0M)
($50.0M)
($29.0M)
Other
$0
$5.0M
$11.0M
$6.0M
Net cash provided by operating activities
$587.0M
$289.0M
$701.0M
$584.0M
Purchases of property and equipment
($67.0M)
($22.0M)
($94.0M)
($64.0M)
Payments for acquisitions, net of cash acquired
($3.3B)
($3.3B)
($22.0M)
($22.0M)
Proceeds received from life insurance policies
$55.0M
$51.0M
—
—
Proceeds from disposal of property and equipment
$12.0M
—
—
—
Other investing activities, net
($2.0M)
($1.0M)
($2.0M)
($3.0M)
Net cash used in investing activities
($3.3B)
($3.3B)
($118.0M)
($89.0M)
Proceeds from debt issuance, net of debt discounts
$11.1B
$9.4B
$3.4B
$3.4B
Repayments of long-term debt
($8.1B)
($6.0B)
($3.6B)
($3.5B)
Payments for debt financing costs
($107.0M)
($85.0M)
—
—
Premium paid on debt extinguishment
($13.0M)
($13.0M)
—
—
Common stock dividends paid
($113.0M)
($56.0M)
($169.0M)
($113.0M)
Payments for capitalized software obligations
($11.0M)
—
($14.0M)
($10.0M)
Cash paid for shares withheld for taxes
-18.0M
-18.0M
—
—
Other financing activities, net
($1.0M)
($3.0M)
($8.0M)
($2.0M)
Net cash provided by (used in) financing activities
$2.7B
$3.2B
($491.0M)
($405.0M)
Net (decrease) increase in cash and cash equivalents
($62.0M)
$156.0M
$92.0M
$90.0M
Cash and cash equivalents at beginning of period
$280.0M
$280.0M
$144.0M
$144.0M
Cash and cash equivalents at end of period
$218.0M
—
$236.0M
$234.0M
Interest paid
$258.0M
$126.0M
$294.0M
$188.0M
Income taxes paid, net of refunds
$152.0M
—
$175.0M
$141.0M
Purchases of property and equipment in accounts payable and accruals
$6.0M
$8.0M
$9.0M
—
Capitalized software in other current and noncurrent liabilities
$15.0M
—
$24.0M
—
Right-of-use assets obtained in exchange for operating lease obligations