Nexstar Media Group, Inc (NXST) Income Statement
NXST 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsNXST revenue and net income
Where NXST's revenue goes
2025Each bar shows an amount and its share of revenue. NXST kept 2.2% of revenue as net income.
NXST profit margins
NXST growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −8.5% | −1.7% | +1.9% | +18.6% |
| Gross profit | −39.5% | −15.6% | −7.1% | +13.2% |
| Operating income | −31.9% | −13.0% | −8.9% | +15.4% |
| Net income | −84.9% | −51.8% | −33.1% | +3.4% |
| EPS (diluted) | −28.7% | −20.3% | −7.6% | +17.0% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
NXST quarterly EPS vs estimates
Nexstar Media beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: November 5, 2026 (estimate $8.16).
NXST income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.95B | $5.41B | $4.93B | $5.21B | $4.65B | $4.50B | $3.04B | $2.77B | $2.43B | $1.10B |
| Cost of revenue | $3.02B | $2.22B | $2.12B | $2.00B | $1.86B | $1.72B | $1.35B | $1.12B | $1.04B | $416.7M |
| Gross profit | $1.93B | $3.19B | $2.81B | $3.21B | $2.79B | $2.78B | $1.69B | $1.65B | $1.40B | $686.5M |
| Research & development | — | — | — | — | — | — | — | — | $0 | $0 |
| Sales, general & admin | $1.06B | $1.09B | $1.14B | $903.5M | $874.2M | $912.1M | $730.0M | $469.0M | $466.7M | $212.4M |
| Total operating expenses | $1.07B | $1.92B | $2.10B | $1.89B | $1.61B | $1.41B | $1.04B | $900.5M | $915.1M | $383.9M |
| Operating income | $863.0M | $1.27B | $708.0M | $1.31B | $1.18B | $1.38B | $655.1M | $757.8M | $518.7M | $287.3M |
| Interest income | — | — | — | — | — | — | $286.4M | $221.0M | $241.2M | $1.1M |
| Interest expense | $379.0M | $444.0M | $447.0M | $337.0M | $283.0M | $335.3M | $304.4M | $221.0M | $241.2M | $116.1M |
| Income before taxes | $150.0M | $959.0M | $401.0M | $1.22B | $1.09B | $1.10B | $373.3M | $532.9M | $241.4M | $170.7M |
| Income taxes | $67.0M | $276.0M | $131.0M | $274.0M | $263.0M | $296.5M | $137.0M | $144.7M | −$233.9M | $77.6M |
| Net income | $109.0M | $722.0M | $346.0M | $971.0M | $834.0M | $811.5M | $230.3M | $389.5M | $475.0M | $91.5M |
| EBITDA | $1.31B | $2.21B | $1.79B | $2.22B | $1.97B | $2.00B | $1.09B | $1.07B | $805.6M | $408.2M |
| EPS (diluted) | $11.72 | $16.44 | $9.79 | $23.19 | $19.88 | $17.37 | $5.39 | $8.30 | $3.49 | $2.89 |
| Gross margin | 39.0% | 58.9% | 56.9% | 61.5% | 59.9% | 61.8% | 55.6% | 59.6% | 57.4% | 62.2% |
| Operating margin | 17.4% | 23.5% | 14.4% | 25.2% | 25.3% | 30.6% | 21.6% | 27.4% | 21.3% | 26.0% |
| Net margin | 2.2% | 13.4% | 7.0% | 18.6% | 17.9% | 18.0% | 7.6% | 14.1% | 19.5% | 8.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.08B | $1.40B | $1.29B | $1.20B | $1.23B | $1.23B | $1.49B | $1.37B | $1.27B | $1.28B | $1.30B | $1.13B |
| Cost of revenue | $1.09B | $732.0M | $758.0M | $752.0M | $557.0M | $551.0M | $558.0M | $563.0M | $552.0M | $548.0M | $540.0M | $537.0M |
| Gross profit | $1.99B | $664.0M | $531.0M | $446.0M | $672.0M | $683.0M | $929.0M | $803.0M | $717.0M | $736.0M | $764.0M | $595.0M |
| Sales, general & admin | $326.0M | $327.0M | $273.0M | $514.0M | $257.0M | $257.0M | $798.0M | $284.0M | $276.0M | $279.0M | $315.0M | $324.0M |
| Total operating expenses | $1.63B | $399.0M | $275.0M | $271.0M | $459.0M | $463.0M | $512.0M | $468.0M | $477.0M | $461.0M | $533.0M | $501.0M |
| Operating income | $362.0M | $265.0M | $256.0M | $175.0M | $213.0M | $220.0M | $417.0M | $335.0M | $240.0M | $275.0M | $231.0M | $94.0M |
| Interest expense | $190.0M | $120.0M | $91.0M | $94.0M | $97.0M | $97.0M | $104.0M | $113.0M | $113.0M | $114.0M | $115.0M | $113.0M |
| Income before taxes | $177.0M | $153.0M | −$214.0M | $96.0M | $130.0M | $138.0M | $337.0M | $244.0M | $149.0M | $228.0M | $147.0M | $14.0M |
| Income taxes | $64.0M | −$7.0M | −$44.0M | $31.0M | $39.0M | $41.0M | $107.0M | $64.0M | $43.0M | $61.0M | $48.0M | $6.0M |
| Net income | $120.0M | $164.0M | −$166.0M | $70.0M | $97.0M | $108.0M | $242.0M | $187.0M | $118.0M | $175.0M | $114.0M | $25.0M |
| EBITDA | $612.0M | $466.0M | $70.0M | $380.0M | $424.0M | $440.0M | $661.0M | $547.0M | $470.0M | $532.0M | $472.0M | $347.0M |
| EPS (diluted) | $3.61 | $6.61 | $4.30 | $1.05 | $3.06 | $3.31 | $5.63 | $4.04 | $3.03 | $3.74 | $3.32 | $0.79 |
| Gross margin | 64.7% | 47.6% | 41.2% | 37.2% | 54.7% | 55.3% | 62.5% | 58.8% | 56.5% | 57.3% | 58.6% | 52.6% |
| Operating margin | 11.8% | 19.0% | 19.9% | 14.6% | 17.3% | 17.8% | 28.0% | 24.5% | 18.9% | 21.4% | 17.7% | 8.3% |
| Net margin | 3.9% | 11.7% | −12.9% | 5.8% | 7.9% | 8.8% | 16.3% | 13.7% | 9.3% | 13.6% | 8.7% | 2.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in NXST's financial statements (latest annual report filed February 27, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
NXST financial results
In fiscal year 2025 (ended December 31, 2025), Nexstar Media reported revenue of $4.9 billion, down 8.5% from the year before. It had net income of $109.0 million (down 84.9%), a net profit margin of 2.2%. Diluted earnings per share came to $11.72. Over five years revenue grew at an average rate of 1.9% a year.
See the NXST stock overview for the latest quote and news, or the NXST chart for price history and technical indicators.
NXST income statement FAQ
What is Nexstar Media's annual revenue?
Nexstar Media reported total revenue of $4.9 billion for fiscal year 2025, which ended on December 31, 2025. That was down 8.5% from $5.4 billion the previous year.
Is Nexstar Media profitable?
Yes. Nexstar Media reported net income of $109.0 million in fiscal 2025, a net profit margin of 2.2%; its operating margin was 17.4%.
What is Nexstar Media's gross margin?
Nexstar Media's gross margin was 39.0% in fiscal 2025: for every $100 of revenue, Nexstar Media kept $39 after the direct cost of its products and services.
How fast is Nexstar Media growing?
Revenue grew 1.9% a year on average over the last five fiscal years, from $4.5 billion to $4.9 billion.
What are Nexstar Media's earnings per share?
Nexstar Media earned $11.72 per diluted share in fiscal 2025, compared with $16.44 a year earlier.
When will Nexstar Media report its next earnings?
Nexstar Media is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 before the market opens.
When does Nexstar Media's fiscal year end?
Nexstar Media's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 27, 2026.