Nexstar Media Group (NXST) FY2019 results: revenue $3.0 billion, up 9.9% on the year
Nexstar Media Group, Inc. (NXST) reported revenue of $3.0 billion for fiscal 2019, the year ended 31 December 2019, up 9.9% on the year before. Net income was $230 million, down 40.9%, and diluted earnings per share $4.80. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2020.
Revenue
$3.0 billion
+9.9% on the year
FY2012FY2019
Operating margin
21.6%
27.4% a year earlier
FY2012FY2019
Net income
$230 million
-40.9% on the year
FY2012FY2019
Diluted EPS
$4.80
-41.5% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
3,039
2,767
2,432
+9.9%
Selling, general and administrative
730
580
605
+25.9%
Operating income
655
758
506
-13.5%
Operating margin
21.6%
27.4%
20.8%
Pre-tax income
373
533
241
-30.0%
Income tax
137
145
-234
-5.3%
Effective tax rate
36.7%
27.1%
-96.9%
Net income
230
389
475
-40.9%
Net margin
7.6%
14.1%
19.5%
Diluted EPS
$4.80
$8.21
$10.07
-41.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
417
737
109
-43.3%
Capital expenditure
198
106
72.5
+85.9%
Free cash flow
220
631
36.6
-65.1%
Free cash flow margin
7.2%
22.8%
1.5%
Cash from investing
-4,702
-176
-2,066
Cash from financing
4,388
-532
1,057
Depreciation and amortisation
324
259
260
+24.9%
Share-based compensation
38.6
31.3
24.1
+23.5%
Buybacks
45.1
50.5
99.0
-10.7%
Dividends paid
82.8
68.6
55.9
+20.7%
Dividend per share
$1.80
$1.50
$1.20
+20.0%
Diluted shares, weighted
48m
47m
47m
+1.1%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
2,031
1,853
1,571
+9.6%
Non-controlling interest
22.0
16.2
10.7
+35.7%
Debt
8,493
3,981
4,362
+113.3%
Operating lease liabilities
186
n/a
n/a
Finance lease liabilities
15.2
n/a
n/a
Other liabilities
3,243
1,212
1,538
+167.5%
Total liabilities and equity
13,990
7,062
7,482
+98.1%
Fixed assets
1,290
732
734
+76.4%
Goodwill
2,997
2,168
2,143
+38.2%
Intangible assets
3,260
1,492
1,582
+118.5%
Investments
1,477
14.0
n/a
+10,474.4%
Cash and equivalents
232
145
116
+59.9%
Receivables
884
547
563
+61.5%
Other assets
3,849
1,964
2,344
+96.0%
Total assets
13,990
7,062
7,482
+98.1%
10-K for the year ended 31 December 2019, filed 2 March 2020: the filing.