Nexstar Media Group (NXST) FY2023 results: revenue $4.9 billion, down 5.3% on the year
Nexstar Media Group, Inc. (NXST) reported revenue of $4.9 billion for fiscal 2023, the year ended 31 December 2023, down 5.3% on the year before. Net income was $346 million, down 64.4%, and diluted earnings per share $9.64. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2024.
Revenue
$4.9 billion
-5.3% on the year
FY2016FY2023
Operating margin
14.4%
25.2% a year earlier
FY2016FY2023
Net income
$346 million
-64.4% on the year
FY2016FY2023
Diluted EPS
$9.64
-60.1% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
999
1,403
1,215
-28.8%
Capital expenditure
149
157
151
-5.3%
Free cash flow
850
1,246
1,064
-31.8%
Free cash flow margin
17.2%
23.9%
22.9%
Cash from investing
-173
125
-232
Cash from financing
-899
-1,515
-946
Depreciation and amortisation
488
662
589
-26.3%
Share-based compensation
60.0
62.0
47.0
-3.2%
Buybacks
605
881
537
-31.3%
Dividends paid
191
142
118
+34.3%
Dividend per share
$5.40
$3.60
$2.80
+50.0%
Diluted shares, weighted
36m
40m
44m
-10.8%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
2,299
2,741
2,850
-16.1%
Non-controlling interest
14.0
28.0
7.1
-50.0%
Redeemable equity
0.0
n/a
n/a
Debt
6,837
6,952
7,415
-1.6%
Operating lease liabilities
246
238
238
+3.4%
Other liabilities
2,682
2,720
2,754
-1.4%
Total liabilities and equity
12,078
12,679
13,264
-4.7%
Fixed assets
1,269
1,262
1,512
+0.5%
Goodwill
2,946
2,961
3,052
-0.5%
Intangible assets
2,124
2,434
2,717
-12.7%
Investments
958
1,119
1,219
-14.4%
Cash and equivalents
135
204
191
-33.9%
Receivables
1,095
1,079
1,021
+1.4%
Other assets
3,551
3,619
3,552
-1.9%
Total assets
12,078
12,679
13,264
-4.7%
10-K for the year ended 31 December 2023, filed 28 February 2024: the filing.