Nexstar Media Group (NXST) FY2020 results: revenue $4.5 billion, up 48.1% on the year
Nexstar Media Group, Inc. (NXST) reported revenue of $4.5 billion for fiscal 2020, the year ended 31 December 2020, up 48.1% on the year before. Net income was $811 million, up 252.4%, and diluted earnings per share $17.37. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2021.
Revenue
$4.5 billion
+48.1% on the year
FY2013FY2020
Operating margin
30.6%
21.6% a year earlier
FY2013FY2020
Net income
$811 million
+252.4% on the year
FY2013FY2020
Diluted EPS
$17.37
+261.9% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
4,501
3,039
2,767
+48.1%
Selling, general and administrative
912
730
580
+24.9%
Operating income
1,375
655
758
+109.9%
Operating margin
30.6%
21.6%
27.4%
Pre-tax income
1,105
373
533
+195.9%
Income tax
297
137
145
+116.4%
Effective tax rate
26.8%
36.7%
27.1%
Net income
811
230
389
+252.4%
Net margin
18.0%
7.6%
14.1%
Diluted EPS
$17.37
$4.80
$8.21
+261.9%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
1,254
417
737
+200.4%
Capital expenditure
217
198
106
+9.9%
Free cash flow
1,037
220
631
+371.5%
Free cash flow margin
23.0%
7.2%
22.8%
Cash from investing
-39.8
-4,702
-176
Cash from financing
-1,294
4,388
-532
Depreciation and amortisation
565
324
259
+74.5%
Share-based compensation
48.3
38.6
31.3
+25.0%
Buybacks
282
45.1
50.5
+524.8%
Dividends paid
101
82.8
68.6
+22.0%
Dividend per share
$2.24
$1.80
$1.50
+24.4%
Diluted shares, weighted
47m
48m
47m
-2.5%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
2,518
2,031
1,853
+24.0%
Non-controlling interest
18.5
22.0
16.2
-16.0%
Debt
7,668
8,493
3,981
-9.7%
Operating lease liabilities
234
186
n/a
+26.1%
Finance lease liabilities
14.2
15.2
n/a
-6.6%
Other liabilities
2,951
3,243
1,212
-9.0%
Total liabilities and equity
13,404
13,990
7,062
-4.2%
Fixed assets
1,605
1,290
732
+24.4%
Goodwill
2,961
2,997
2,168
-1.2%
Intangible assets
2,939
3,260
1,492
-9.8%
Investments
1,334
1,477
14.0
-9.7%
Cash and equivalents
153
232
145
-34.2%
Receivables
905
884
547
+2.4%
Other assets
3,508
3,849
1,964
-8.9%
Total assets
13,404
13,990
7,062
-4.2%
10-K for the year ended 31 December 2020, filed 1 March 2021: the filing.