Financials Nexstar Media Group, Inc.

Equities

NXST

US65336K1034

Broadcasting

Real-time Estimate Cboe BZX Other stock markets 12:11:36 2024-05-09 pm EDT			5-day change	1st Jan Change
175.1 ^USD	+5.19%		+6.93%	+12.08%

02:29pm	Nexstar Media's Q1 Net Income, Revenue Rise; Shares Lower	MT
01:29pm	Earnings Flash (NXST) NEXSTAR MEDIA GROUP Posts Q1 Revenue $1.28B, vs. Street Est of $1.29B	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	5,410	4,809	6,174	6,600	5,319	5,538	-	-
Enterprise Value (EV) ¹	13,670	12,325	13,398	13,348	12,021	11,760	11,372	10,107
P/E ratio	24.4 x	6.29 x	7.95 x	7.24 x	16.3 x	6.78 x	10.2 x	5.51 x
Yield	1.54%	2.05%	1.85%	-	3.44%	4.02%	4.41%	4.39%
Capitalization / Revenue	1.78 x	1.07 x	1.33 x	1.27 x	1.08 x	0.99 x	1.08 x	0.99 x
EV / Revenue	4.5 x	2.74 x	2.88 x	2.56 x	2.44 x	2.11 x	2.21 x	1.82 x
EV / EBITDA	15.2 x	6.32 x	7.06 x	6 x	8.18 x	5.54 x	6.89 x	4.8 x
EV / FCF	26.2 x	9.45 x	10.7 x	10.7 x	12 x	9 x	11.7 x	7.48 x
FCF Yield	3.81%	10.6%	9.34%	9.33%	8.32%	11.1%	8.58%	13.4%
Price to Book	2.73 x	1.95 x	2.16 x	-	2.29 x	2.15 x	2.02 x	-
Nbr of stocks (in thousands)	46,139	44,045	40,891	37,708	33,931	32,941	-	-
Reference price ²	117.2	109.2	151.0	175.0	156.8	168.1	168.1	168.1
Announcement Date	2/26/20	2/23/21	2/22/22	2/28/23	2/28/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	3,039	4,501	4,648	5,211	4,933	5,568	5,141	5,568
EBITDA ¹	898.1	1,951	1,897	2,223	1,469	2,124	1,650	2,107
EBIT ¹	622.4	1,361	1,175	1,312	708	1,391	954.8	1,467
Operating Margin	20.48%	30.24%	25.29%	25.18%	14.35%	24.99%	18.57%	26.35%
Earnings before Tax (EBT) ¹	373.3	1,105	1,093	1,217	401	1,025	610.1	1,124
Net income ¹	230.3	811.4	834.6	971.1	346	808.2	495.8	875
Net margin	7.58%	18.03%	17.95%	18.64%	7.01%	14.52%	9.64%	15.72%
EPS ²	4.800	17.37	18.98	24.16	9.640	24.78	16.49	30.53
Free Cash Flow ¹	520.9	1,305	1,251	1,246	1,000	1,307	975.6	1,351
FCF margin	17.14%	28.98%	26.92%	23.91%	20.27%	23.47%	18.98%	24.27%
FCF Conversion (EBITDA)	58%	66.86%	65.97%	56.04%	68.07%	61.51%	59.12%	64.12%
FCF Conversion (Net income)	226.22%	160.77%	149.93%	128.28%	289.02%	161.67%	196.77%	154.41%
Dividend per Share ²	1.800	2.240	2.800	-	5.400	6.758	7.417	7.381
Announcement Date	2/26/20	2/23/21	2/22/22	2/28/23	2/28/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1
Net sales ¹	1,157	1,246	1,210	1,245	1,269	1,487	1,257	1,240	1,132	1,304	1,290	1,312	1,389	1,589	1,286
EBITDA ¹	410.4	496.1	642.7	486.3	488.8	598.2	491	331	236	411	522.7	443.1	481.9	676.5	491.7
EBIT ¹	277.4	324.8	329.4	333.4	355.3	294	204	179	94	230	255.8	267.7	334.8	515.9	219.8
Operating Margin	23.97%	26.07%	27.22%	26.78%	28%	19.78%	16.23%	14.44%	8.3%	17.64%	19.84%	20.4%	24.1%	32.46%	17.09%
Earnings before Tax (EBT) ¹	235	328.9	303.9	298.1	369.4	245.7	130	110	14	147	163.9	176.2	239	419.3	120.8
Net income ¹	169.6	264	251.6	227.5	288.7	203.3	111	96	25	115	133.1	148.4	188.2	328.2	100.2
Net margin	14.66%	21.19%	20.79%	18.27%	22.75%	13.67%	8.83%	7.74%	2.21%	8.82%	10.32%	11.31%	13.55%	20.65%	7.79%
EPS ²	3.900	6.190	5.990	5.560	7.300	5.300	2.970	2.640	0.7000	3.320	3.969	4.376	5.949	10.28	3.570
Dividend per Share ²	-	-	0.9000	0.9000	0.9000	-	1.350	1.350	1.350	1.350	1.690	1.690	1.690	1.690	-
Announcement Date	11/2/21	2/22/22	5/10/22	8/4/22	11/8/22	2/28/23	5/9/23	8/8/23	11/8/23	2/28/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	8,261	7,515	7,224	6,747	6,702	6,222	5,834	4,569
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	9.197 x	3.852 x	3.809 x	3.036 x	4.562 x	2.929 x	3.535 x	2.169 x
Free Cash Flow ¹	521	1,305	1,251	1,246	1,000	1,307	976	1,351
ROE (net income / shareholders' equity)	11.9%	35.7%	31.1%	34.5%	13.7%	45.2%	30.3%	24.5%
ROA (Net income/ Total Assets)	2.19%	5.92%	6.26%	7.49%	2.8%	10.8%	8.23%	5.6%
Assets ¹	10,526	13,697	13,334	12,972	12,378	7,478	6,022	15,624
Book Value Per Share ²	43.00	56.10	69.90	-	68.40	78.10	83.30	-
Cash Flow per Share ²	8.710	26.80	27.60	34.90	27.90	33.10	27.80	-
Capex ¹	198	217	151	157	149	142	142	144
Capex / Sales	6.5%	4.82%	3.24%	3.02%	3.02%	2.55%	2.77%	2.59%
Announcement Date	2/26/20	2/23/21	2/22/22	2/28/23	2/28/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Nexstar Media Group, Inc.

Trading Rating

Investor Rating

ESG Refinitiv

C+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

168.1 USD

Average target price

199.1 USD

Spread / Average Target

+18.43%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Television Broadcasting

	1st Jan change	Capi.
NEXSTAR MEDIA GROUP, INC.	+12.08%	5.54B
WARNER BROS. DISCOVERY, INC.	-31.46%	19.11B
FOX CORPORATION	+12.40%	15.14B
RTL GROUP S.A.	-15.19%	4.96B
NIPPON TELEVISION HOLDINGS, INC.	+47.68%	3.58B
SUN TV NETWORK LIMITED	-7.78%	3.07B
TEGNA INC.	-3.50%	2.59B
M6 MÉTROPOLE TÉLÉVISION	+3.09%	1.79B
NINE ENTERTAINMENT CO. HOLDINGS LIMITED	-25.00%	1.6B
PT ELANG MAHKOTA TEKNOLOGI TBK	-29.49%	1.58B

Television Broadcasting