NEXSTAR MEDIA GROUP, INC.
NXST · Television Broadcasting Stations · 30.5M shares · -7%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $545M (gross $605M, SBC $60M)
Reference price $170.81 · est. market cap ~$5.2B — last insider sale, 2026-06-16 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C66Nexstar Media Group — largest US TV broadcaster, off-cycle (non-election) year.
Strengths
- Operating margin 17% (89th pct), strong free cash flow (78th)
- Scale in local TV + The CW; political-ad cyclicality
Risks
- High leverage (D/E 3.0, 88th); revenue down off the 2024 election peak
- Cord-cutting / secular ad decline
Notable findings
- RestatementOn August 18, 2025, we entered into a debt commitment letter, which was subsequently amended and restated on September 11, 2025, pursuant to which a syndicate of financial institutions committed to pr 8-K ↗
- High leverageHigh leverage (debt/equity 3.01)
- Buying back stockNet buyback — share count -7%/yr over 4y
- Pending mergerThese risks are discussed more fully below and include, but are not limited to: Risks Related to the Proposed Merger with TEGNA • The proposed Merger with TEGNA is subject to conditions, some or a
- Insider sellingInsider selling — 57 open-market sale(s) by 15 insider(s) (cluster of 15 insiders, ~$10M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
17.2%
Net margin
2.2%
Return on equity
5.3%
Return on assets
1.0%
ROIC
8.1%
Revenue growth (QoQ)
8.3%
Net-income growth
-84.9%
Debt / equity
3.0×
Net debt / EBITDA
4.2×
Current ratio
2.1×
Free cash flow
$743M
EBITDA
$1.3B
Tangible book value
-$2.4B
Cash & investments
$676M
Stock comp / revenue
1.6%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-16 | ALFORD ANDREW | Sell | 746 | $170.81 |
| 2026-06-16 | COMPTON SEAN | Sell | 840 | $170.81 |
| 2026-06-16 | Knapp Lindsey | Sell | 93 | $170.81 |
| 2026-06-16 | Gliha Lee Ann | Sell | 373 | $170.81 |
| 2026-06-16 | WEITMAN GARY | Sell | 261 | $170.81 |
| 2026-06-16 | ZIMMER DANA | Sell | 876 | $170.81 |
| 2026-06-16 | Jenkins Brett | Sell | 301 | $170.81 |
| 2026-06-16 | Russell Blake | Sell | 261 | $170.81 |
| 2026-06-14 | Russell Blake | Option exercise | 656 | — |
| 2026-06-14 | ZIMMER DANA | Option exercise | 938 | — |
| 2026-06-14 | Jenkins Brett | Option exercise | 656 | — |
| 2026-06-14 | COMPTON SEAN | Option exercise | 938 | — |
| 2026-06-14 | ALFORD ANDREW | Option exercise | 938 | — |
| 2026-06-14 | Gliha Lee Ann | Option exercise | 938 | — |
| 2026-06-14 | WEITMAN GARY | Option exercise | 656 | — |
| 2026-06-14 | Knapp Lindsey | Option exercise | 375 | — |
| 2026-06-12 | Biard Michael | Sell | 1.2K | $174.21 |
| 2026-06-12 | WEITMAN GARY | Sell | 194 | $174.21 |
| 2026-06-10 | Gliha Lee Ann | Sell | 752 | $176.42 |
| 2026-06-10 | ZIMMER DANA | Sell | 915 | $176.42 |
| 2026-06-10 | COMPTON SEAN | Sell | 875 | $176.42 |
| 2026-06-10 | ALFORD ANDREW | Sell | 778 | $176.42 |
| 2026-06-10 | Russell Blake | Sell | 239 | $176.42 |
| 2026-06-10 | WEITMAN GARY | Option exercise | 750 | — |
| 2026-06-10 | Jenkins Brett | Sell | 284 | $176.42 |
| 2026-06-09 | McMillen Charles Thomas | Sell | 1.0K | $180.00 |
| 2026-06-08 | Biard Michael | Option exercise | 3.1K | — |
| 2026-06-08 | ZIMMER DANA | Option exercise | 938 | — |
| 2026-06-08 | ZIMMER DANA | Option exercise | 938 | — |
| 2026-06-08 | COMPTON SEAN | Option exercise | 1.0K | — |
| 2026-06-08 | COMPTON SEAN | Option exercise | 938 | — |
| 2026-06-08 | COMPTON SEAN | Option exercise | 938 | — |
| 2026-06-08 | ALFORD ANDREW | Option exercise | 1.0K | — |
| 2026-06-08 | ALFORD ANDREW | Option exercise | 938 | — |
| 2026-06-08 | ALFORD ANDREW | Option exercise | 938 | — |
| 2026-06-08 | ZIMMER DANA | Option exercise | 1.0K | — |
| 2026-06-06 | Jenkins Brett | Option exercise | 750 | — |
| 2026-06-06 | Gliha Lee Ann | Option exercise | 1.9K | — |
| 2026-06-06 | Russell Blake | Option exercise | 750 | — |
| 2026-06-04 | COMPTON SEAN | Sell | 414 | $182.42 |
| 2026-06-04 | WEITMAN GARY | Sell | 319 | $182.42 |
| 2026-06-04 | Russell Blake | Sell | 319 | $182.42 |
| 2026-06-04 | Jenkins Brett | Sell | 397 | $182.42 |
| 2026-06-04 | ZIMMER DANA | Sell | 433 | $182.42 |
| 2026-06-04 | ALFORD ANDREW | Sell | 368 | $182.42 |
| 2026-06-04 | Gliha Lee Ann | Sell | 258 | $182.42 |
| 2026-06-03 | COMPTON SEAN | Option exercise | 938 | — |
| 2026-06-03 | WEITMAN GARY | Option exercise | 1.3K | — |
| 2026-06-03 | ALFORD ANDREW | Option exercise | 938 | — |
| 2026-06-03 | ZIMMER DANA | Option exercise | 938 | — |
| 2026-06-03 | Russell Blake | Option exercise | 1.3K | — |
| 2026-06-03 | Gliha Lee Ann | Option exercise | 657 | — |
| 2026-06-03 | Jenkins Brett | Option exercise | 1.3K | — |
| 2026-06-02 | Knapp Lindsey | Sell | 290 | $184.27 |
| 2026-05-28 | ALFORD ANDREW | Sell | 605 | $185.33 |
| 2026-05-27 | Lanzano Dan | Sell | 247 | $187.32 |
| 2026-05-27 | WEITMAN GARY | Sell | 184 | $187.32 |
| 2026-05-27 | Russell Blake | Sell | 185 | $187.32 |
| 2026-05-27 | Morgan Rachel | Sell | 185 | $187.32 |
| 2026-05-27 | Knapp Lindsey | Sell | 92 | $187.32 |
| 2026-05-27 | Jenkins Brett | Sell | 229 | $187.32 |
| 2026-05-27 | ZIMMER DANA | Sell | 465 | $187.32 |
| 2026-05-27 | COMPTON SEAN | Sell | 445 | $187.32 |
| 2026-05-27 | ALFORD ANDREW | Sell | 395 | $187.32 |
| 2026-05-27 | Gliha Lee Ann | Sell | 742 | $187.32 |
| 2026-05-27 | Biard Michael | Sell | 989 | $187.32 |
| 2026-05-23 | Jenkins Brett | Option exercise | 750 | — |
| 2026-05-23 | Gliha Lee Ann | Option exercise | 1.9K | — |
| 2026-05-23 | ZIMMER DANA | Option exercise | 1.0K | — |
| 2026-05-23 | WEITMAN GARY | Option exercise | 750 | — |
| 2026-05-23 | Knapp Lindsey | Option exercise | 375 | — |
| 2026-05-23 | COMPTON SEAN | Option exercise | 1.0K | — |
| 2026-05-23 | Russell Blake | Option exercise | 750 | — |
| 2026-05-23 | Biard Michael | Option exercise | 2.5K | — |
| 2026-05-23 | Morgan Rachel | Option exercise | 750 | — |
| 2026-05-23 | ALFORD ANDREW | Option exercise | 1.0K | — |
| 2026-05-23 | Lanzano Dan | Option exercise | 303 | — |
| 2026-05-23 | Lanzano Dan | Option exercise | 375 | — |
| 2026-05-19 | COMPTON SEAN | Sell | 5.0K | $196.00 |
| 2026-05-18 | Lanzano Dan | Sell | 237 | $196.37 |
| 2026-03-27 | Wells Royce A. | Sell | 825 | $212.76 |
| 2026-03-27 | Weaver Robert S. | Sell | 1.9K | $213.25 |
| 2026-03-27 | Morgan Rachel | Sell | 3.1K | $213.72 |
| 2026-03-27 | WEITMAN GARY | Sell | 1.0K | $212.49 |
| 2026-03-27 | WEITMAN GARY | Gift | 250 | — |
| 2026-03-27 | MUSE JOHN R | Sell | 1.5K | $219.63 |
| 2026-03-25 | Russell Blake | Sell | 333 | $218.53 |
| 2026-03-25 | Jenkins Brett | Sell | 414 | $218.53 |
| 2026-03-25 | Weaver Robert S. | Sell | 1.1K | $218.53 |
| 2026-03-25 | ALFORD ANDREW | Sell | 623 | $218.53 |
| 2026-03-25 | Lanzano Dan | Sell | 138 | $218.53 |
| 2026-03-25 | COMPTON SEAN | Sell | 804 | $218.53 |
| 2026-03-25 | WEITMAN GARY | Sell | 333 | $218.53 |
| 2026-03-25 | ZIMMER DANA | Sell | 839 | $218.53 |
| 2026-03-25 | Morgan Rachel | Sell | 333 | $218.53 |
| 2026-03-25 | Biard Michael | Sell | 1.8K | $218.53 |
| 2026-03-25 | Gliha Lee Ann | Sell | 1.3K | $218.53 |
| 2026-03-24 | Biard Michael | Option exercise | 2.0K | — |
| 2026-03-24 | Weaver Robert S. | Option exercise | 1.7K | — |
| 2026-03-24 | Weaver Robert S. | Option exercise | 1.3K | — |
| 2026-03-24 | Lanzano Dan | Option exercise | 375 | — |
| 2026-03-24 | Biard Michael | Option exercise | 2.5K | — |
| 2026-03-24 | Morgan Rachel | Option exercise | 750 | — |
| 2026-03-24 | Morgan Rachel | Option exercise | 588 | — |
| 2026-03-24 | Gliha Lee Ann | Option exercise | 1.9K | — |
| 2026-03-24 | Gliha Lee Ann | Option exercise | 1.5K | — |
| 2026-03-24 | WEITMAN GARY | Option exercise | 750 | — |
| 2026-03-24 | WEITMAN GARY | Option exercise | 588 | — |
| 2026-03-24 | WEITMAN GARY | Sell | 3.5K | $226.00 |
| 2026-03-24 | ZIMMER DANA | Option exercise | 1.0K | — |
| 2026-03-24 | ZIMMER DANA | Option exercise | 784 | — |
| 2026-03-24 | ZIMMER DANA | Sell | 4.4K | $225.50 |
| 2026-03-24 | COMPTON SEAN | Option exercise | 1.0K | — |
| 2026-03-24 | COMPTON SEAN | Option exercise | 784 | — |
| 2026-03-24 | ALFORD ANDREW | Option exercise | 1.0K | — |
| 2026-03-24 | ALFORD ANDREW | Option exercise | 784 | — |
| 2026-03-24 | Jenkins Brett | Option exercise | 750 | — |
| 2026-03-24 | Jenkins Brett | Option exercise | 588 | — |
| 2026-03-24 | Russell Blake | Option exercise | 750 | — |
| 2026-03-24 | Russell Blake | Option exercise | 588 | — |
| 2026-03-24 | Aulestia Bernadette S. | Option exercise | 1.1K | — |
| 2026-03-24 | Johnson Ellen Tobi | Option exercise | 1.1K | — |
| 2026-03-24 | McNabb Lisbeth | Option exercise | 1.1K | — |
| 2026-03-24 | McMillen Charles Thomas | Option exercise | 1.1K | — |
| 2026-03-24 | Grossman Jay M. | Option exercise | 1.1K | — |
| 2026-03-24 | Wells Royce A. | Option exercise | 1.1K | — |
| 2026-03-24 | ARMSTRONG D GEOFFREY | Option exercise | 1.1K | — |
| 2026-03-24 | MUSE JOHN R | Option exercise | 1.1K | — |
| 2026-03-03 | SOOK PERRY A | Tax withheld | 26K | $243.55 |
| 2026-03-02 | SOOK PERRY A | Tax withheld | 47K | $247.24 |
| 2026-03-02 | SOOK PERRY A | Option exercise | 37K | — |
| 2026-03-02 | SOOK PERRY A | Option exercise | 67K | — |
| 2026-03-01 | SOOK PERRY A | Option exercise | 45K | — |
| 2026-03-01 | SOOK PERRY A | Option exercise | 38K | — |
| 2025-12-22 | Gliha Lee Ann | Tax withheld | 328 | $200.27 |
| 2025-12-20 | Gliha Lee Ann | Option exercise | 833 | — |
| 2025-10-01 | Johnson Ellen Tobi | Option exercise | 571 | — |
| 2025-08-21 | Biard Michael | Option exercise | 6.2K | — |
| 2025-08-21 | Biard Michael | Tax withheld | 2.5K | $204.84 |
| 2025-08-13 | Gliha Lee Ann | Option exercise | 1.2K | — |
| 2025-08-13 | Gliha Lee Ann | Tax withheld | 984 | $210.04 |
| 2025-08-13 | Gliha Lee Ann | Option exercise | 1.2K | — |
| 2025-06-17 | Morgan Rachel | Sell | 329 | $165.25 |
| 2025-06-17 | Russell Blake | Sell | 507 | $165.25 |
| 2025-06-17 | Jenkins Brett | Sell | 610 | $165.25 |
| 2025-06-17 | COMPTON SEAN | Sell | 850 | $165.25 |
| 2025-06-17 | ALFORD ANDREW | Sell | 757 | $165.25 |
| 2025-06-17 | ZIMMER DANA | Sell | 889 | $165.25 |
| 2025-06-17 | Gliha Lee Ann | Sell | 757 | $165.25 |
| 2025-06-17 | WEITMAN GARY | Sell | 510 | $165.25 |
| 2025-06-14 | Gliha Lee Ann | Option exercise | 937 | — |
| 2025-06-14 | WEITMAN GARY | Option exercise | 657 | — |
| 2025-06-14 | WEITMAN GARY | Option exercise | 657 | — |
| 2025-06-14 | Russell Blake | Option exercise | 657 | — |
| 2025-06-14 | Russell Blake | Option exercise | 657 | — |
| 2025-06-14 | Jenkins Brett | Option exercise | 657 | — |
| 2025-06-14 | Jenkins Brett | Option exercise | 657 | — |
| 2025-06-14 | Morgan Rachel | Option exercise | 657 | — |
| 2025-06-14 | Morgan Rachel | Option exercise | 657 | — |
| 2025-06-14 | ZIMMER DANA | Option exercise | 937 | — |
| 2025-06-14 | ZIMMER DANA | Option exercise | 937 | — |
| 2025-06-14 | COMPTON SEAN | Option exercise | 937 | — |
| 2025-06-14 | COMPTON SEAN | Option exercise | 937 | — |
| 2025-06-14 | ALFORD ANDREW | Option exercise | 937 | — |
| 2025-06-14 | ALFORD ANDREW | Option exercise | 937 | — |
| 2025-06-14 | Gliha Lee Ann | Option exercise | 937 | — |
| 2025-06-04 | COMPTON SEAN | Sell | 845 | $167.25 |
| 2025-06-04 | WEITMAN GARY | Sell | 325 | $167.25 |
| 2025-06-04 | ZIMMER DANA | Sell | 883 | $167.25 |
| 2025-06-04 | ALFORD ANDREW | Sell | 751 | $167.25 |
| 2025-06-04 | Jenkins Brett | Sell | 426 | $167.25 |
| 2025-06-04 | Russell Blake | Sell | 326 | $167.25 |
| 2025-06-04 | Gliha Lee Ann | Sell | 526 | $167.25 |
| 2025-06-03 | ALFORD ANDREW | Option exercise | 937 | — |
| 2025-06-03 | ALFORD ANDREW | Option exercise | 937 | — |
| 2025-06-03 | Gliha Lee Ann | Option exercise | 656 | — |
| 2025-06-03 | Gliha Lee Ann | Option exercise | 656 | — |
| 2025-06-03 | COMPTON SEAN | Option exercise | 937 | — |
| 2025-06-03 | Russell Blake | Option exercise | 1.3K | — |
| 2025-06-03 | Jenkins Brett | Option exercise | 1.3K | — |
| 2025-06-03 | ZIMMER DANA | Option exercise | 937 | — |
| 2025-06-03 | ZIMMER DANA | Option exercise | 937 | — |
| 2025-06-03 | WEITMAN GARY | Option exercise | 1.3K | — |
| 2025-06-03 | COMPTON SEAN | Option exercise | 937 | — |
| 2025-05-27 | ZIMMER DANA | Sell | 916 | $173.59 |
| 2025-05-27 | WEITMAN GARY | Sell | 363 | $173.59 |
| 2025-05-27 | Russell Blake | Sell | 362 | $173.59 |
| 2025-05-27 | Morgan Rachel | Sell | 363 | $173.59 |
| 2025-05-27 | COMPTON SEAN | Sell | 877 | $173.59 |
| 2025-05-27 | Gliha Lee Ann | Sell | 1.4K | $173.59 |
| 2025-05-27 | ALFORD ANDREW | Sell | 779 | $173.59 |
| 2025-05-27 | Biard Michael | Sell | 2.2K | $173.59 |
| 2025-05-27 | Jenkins Brett | Sell | 451 | $173.59 |
| 2025-05-23 | Morgan Rachel | Option exercise | 750 | — |
| 2025-05-23 | Morgan Rachel | Option exercise | 750 | — |
| 2025-05-23 | Russell Blake | Option exercise | 750 | — |
| 2025-05-23 | COMPTON SEAN | Option exercise | 1.0K | — |
| 2025-05-23 | COMPTON SEAN | Option exercise | 1.0K | — |
| 2025-05-23 | Russell Blake | Option exercise | 750 | — |
| 2025-05-23 | Gliha Lee Ann | Option exercise | 1.9K | — |
| 2025-05-23 | Gliha Lee Ann | Option exercise | 1.9K | — |
| 2025-05-23 | WEITMAN GARY | Option exercise | 750 | — |
| 2025-05-23 | ALFORD ANDREW | Option exercise | 1.0K | — |
| 2025-05-23 | ALFORD ANDREW | Option exercise | 1.0K | — |
| 2025-05-23 | WEITMAN GARY | Option exercise | 750 | — |
| 2025-05-23 | Biard Michael | Option exercise | 2.5K | — |
| 2025-05-23 | Biard Michael | Option exercise | 3.1K | — |
| 2025-05-23 | ZIMMER DANA | Option exercise | 1.0K | — |
| 2025-05-23 | Jenkins Brett | Option exercise | 750 | — |
| 2025-05-23 | Jenkins Brett | Option exercise | 750 | — |
| 2025-05-23 | ZIMMER DANA | Option exercise | 1.0K | — |
| 2025-05-20 | COMPTON SEAN | Sell | 1.1K | $175.53 |
| 2025-05-20 | WEITMAN GARY | Sell | 424 | $175.53 |
| 2025-05-20 | Russell Blake | Sell | 424 | $175.53 |
| 2025-05-20 | Jenkins Brett | Sell | 528 | $175.53 |
| 2025-05-20 | ALFORD ANDREW | Sell | 838 | $175.53 |
| 2025-05-20 | ZIMMER DANA | Sell | 1.2K | $175.53 |
| 2025-05-17 | ALFORD ANDREW | Option exercise | 1.2K | — |
| 2025-05-17 | Jenkins Brett | Option exercise | 1.8K | — |
| 2025-05-17 | ZIMMER DANA | Option exercise | 1.2K | — |
| 2025-05-17 | ZIMMER DANA | Option exercise | 1.2K | — |
| 2025-05-17 | ALFORD ANDREW | Option exercise | 1.2K | — |
| 2025-05-17 | Russell Blake | Option exercise | 1.8K | — |
| 2025-05-17 | COMPTON SEAN | Option exercise | 1.2K | — |
| 2025-05-17 | COMPTON SEAN | Option exercise | 1.2K | — |
| 2025-05-17 | WEITMAN GARY | Option exercise | 1.8K | — |
| 2025-03-26 | ALFORD ANDREW | Sell | 3.8K | $181.98 |
| 2025-03-20 | Grossman Jay M. | Option exercise | 1.6K | — |
| 2025-03-20 | Wells Royce A. | Option exercise | 1.5K | — |
| 2025-03-20 | MUSE JOHN R | Option exercise | 1.6K | — |
| 2025-03-20 | McNabb Lisbeth | Option exercise | 1.6K | — |
| 2025-03-20 | McMillen Charles Thomas | Option exercise | 1.6K | — |
| 2025-03-20 | FITZSIMONS DENNIS J | Option exercise | 1.6K | — |
| 2025-03-20 | Aulestia Bernadette S. | Option exercise | 1.6K | — |
| 2025-03-20 | ARMSTRONG D GEOFFREY | Option exercise | 1.6K | — |
| 2025-03-19 | Jenkins Brett | Sell | 3.8K | $176.75 |
| 2025-03-07 | WEITMAN GARY | Sell | 1.2K | $177.21 |
| 2025-03-07 | ZIMMER DANA | Sell | 4.8K | $177.68 |
| 2025-03-05 | McMillen Charles Thomas | Sell | 2.0K | $169.51 |
| 2025-03-05 | SOOK PERRY A | Sell | 33K | $168.66 |
| 2025-03-04 | SOOK PERRY A | Sell | 32K | $170.67 |
| 2025-03-02 | SOOK PERRY A | Option exercise | 27K | $172.96 |
| 2025-03-02 | SOOK PERRY A | Option exercise | 54K | $172.96 |
| 2025-03-01 | SOOK PERRY A | Option exercise | 38K | $169.75 |
| 2025-03-01 | SOOK PERRY A | Option exercise | 45K | $169.75 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-16 | Shareholder voteReg FD | filing ↗ |
| 2026-06-04 | Exhibits | filing ↗ |
| 2026-05-07 | ResultsExhibits | filing ↗ |
| 2026-05-01 | OtherExhibits | filing ↗ |
| 2026-04-02 | Material agreementDebt obligationExhibits | filing ↗ |
| 2026-03-30 | Material agreement1.02Debt obligationExhibits | filing ↗ |
| 2026-03-20 | Material agreementAcquisition/dispositionDebt obligationReg FDExhibits | filing ↗ |
| 2026-03-20 | Reg FDExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-16 | 2026-06-16 | 0001193125-26-272491 ↗ |
| 8-K/A | 2026-06-04 | 2026-03-19 | 0001193125-26-257735 ↗ |
| 10-Q | 2026-05-08 | 2026-03-31 | 0001193125-26-212539 ↗ |
| 8-K | 2026-05-07 | 2026-05-07 | 0001142417-26-000027 ↗ |
| 8-K | 2026-05-01 | 2026-04-30 | 0001142417-26-000024 ↗ |
| 8-K | 2026-04-02 | 2026-04-02 | 0001193125-26-139729 ↗ |
| 8-K | 2026-03-30 | 2026-03-24 | 0001193125-26-129955 ↗ |
| 8-K | 2026-03-20 | 2026-03-20 | 0001142417-26-000008 ↗ |
| 8-K | 2026-03-20 | 2026-03-19 | 0001142417-26-000004 ↗ |
| 10-K | 2026-02-27 | 2025-12-31 | 0001193125-26-078361 ↗ |
| 8-K | 2026-02-26 | 2026-02-26 | 0001193125-26-073384 ↗ |
| 8-K | 2026-02-03 | 2026-01-29 | 0001193125-26-034035 ↗ |