Pulling SEC filings + quote and writing the call…

NEXSTAR MEDIA GROUP, INC.
Next earnings Aug 6, 2026 · consensus $6.82 EPS, $2.03B rev
Last earnings -1.4% on 2026-05-07
Largest US local-TV broadcaster: huge free cash flow and a cheap 1x sales, but a leveraged balance sheet, off-cycle earnings slump and secular linear decline.
Sources: SEC EDGAR (CIK 0001142417, latest 10-Q filed 2026-05-08) · EODHD · analysis by claude-code · as of 6/21/2026, 8:58:23 PM.
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Middling fundamentals and a rich price (~88% above fair value) leave little margin of safety — a wait-and-see.
Nexstar is the largest owner of local television stations in the US, with a high-margin, dual-revenue model — advertising plus growing retransmission/distribution fees — that throws off substantial cash. FY2025 was a classic off-cycle year: with no presidential-election political advertising, revenue fell 8.5% to $4.95B and net income dropped 84.9% to $109M. The drop is exaggerated by the company's political-cycle cadence (net income was $722M in the FY2024 election year and the high-margin political dollars largely vanish in odd years). Operating income held up far better, down 33.0% to $849M, preserving a 17.2% operating margin, and operating cash flow remained strong at $891M.
The risks, catalysts, 12-month price target and the cited SEC figures behind this rating — with Pro.
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| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $4.65B | $5.21B | $4.93B | $5.41B | $4.95B |
| Gross profit | — | — | — | — | — |
| Operating income | $1.18B | $1.31B | $708M | $1.27B | $849M |
| Net income | $834M | $971M | $346M | $722M | $109M |
| Diluted EPS | $18.98 | $24.16 | $9.64 | $21.41 | $3.00 |
| Net margin | 17.9% | 18.6% | 7.0% | 13.4% | 2.2% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Source: EODHD. Yield = trailing-12-month dividends ÷ price.
Disclosed under the STOCK Act
Self-reported periodic transaction reports (STOCK Act). Amounts are disclosed ranges; a trade may be a spouse's. Disclosures lag the trade by up to ~45 days. Source: House Clerk + Senate eFD.
1046 tracked peers · median
Last 90 days: 0 open-market buys · 8 sales
| 2026-06-16 | WEITMAN GARY See Remarks | Sell | 261.00 @ $170.81 | $44.6K |
| 2026-06-16 | Russell Blake EVP, Operations | Sell | 261.00 @ $170.81 | $44.6K |
| 2026-06-16 | Knapp Lindsey EVP, Human Resources | Sell | 93.00 @ $170.81 | $15.9K |
| 2026-06-16 | Jenkins Brett See Remarks | Sell | 301.00 @ $170.81 | $51.4K |
| 2026-06-16 | ZIMMER DANA See Remarks | Sell | 876.00 @ $170.81 | $150K |
| 2026-06-16 | COMPTON SEAN President, Networks | Sell | 840.00 @ $170.81 | $143K |
| 2026-06-16 | ALFORD ANDREW President, Broadcasting | Sell | 746.00 @ $170.81 | $127K |
| 2026-06-16 | Gliha Lee Ann EVP, Chief Financial Officer | Sell | 373.00 @ $170.81 | $63.7K |
| 2026-06-14 | WEITMAN GARY See Remarks | Exercise | 656.00 | |
| 2026-06-14 | Russell Blake EVP, Operations | Exercise | 656.00 | |
| 2026-06-14 | Knapp Lindsey EVP, Human Resources | Exercise | 375.00 | |
| 2026-06-14 | Jenkins Brett See Remarks | Exercise | 656.00 |
Recent news tone vs the market's typical (which skews positive). A soft signal, not a recommendation.
Dates from 8-K (Item 2.02); beat/miss = reported EPS vs consensus (Finnhub, recent quarters); move = prior close → close on/after.