Filing Flows › Nexstar Media Group (NXST) › Q3 2026 › vs Q3 2025
Nexstar Media Group (NXST) Q3 2026 vs Q3 2025 (year over year)
Nexstar Media Group's revenue rose $935M (+78%) from $1.2B in Q3 2025 to $2.1B in Q3 2026. The biggest changes: Advertising +$547M (+115%); Distribution Service +$382M (+54%); Other +$6.0M (+46%). Operating margin 24.9% against 14.6% (+10.3 pts).
Nexstar Media Group, Q3 2026: revenue $2.1B (+78% year over year), operating margin 24.9%, net earnings $255M, operating cash flow $680M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 24.9% | 14.6% | +10.3 pts |
| Net margin | 12.0% | 5.8% | +6.1 pts |
| Free cash flow margin | 29.7% | 7.3% | +22.5 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Distribution Service | $1.1B | $709M | $382M | +54% |
| Advertising | $1.0B | $476M | $547M | +115% |
| Other | $19.0M | $13.0M | $6.0M | +46% |
| Revenue | $2.1B | $1.2B | $935M | +78% |
| Operating profit | $532M | $175M | $357M | +204% |
| Costs & expenses | $1.6B | $1.0B | $578M | +57% |
| Pre-tax earnings | $343M | $96.0M | $247M | +257% |
| Other expense, net | $189M | $79.0M | $110M | +139% |
| SG&A | $421M | $270M | $151M | +56% |
| Other operating costs | $1.2B | $753M | $427M | +57% |
| Loss borne by minority interests | $5.0M | $5.0M | $0 | 0% |
| Net earnings | $255M | $70.0M | $185M | +264% |
| Income tax | $93.0M | $31.0M | $62.0M | +200% |
| Depreciation & amortization | $155M | $118M | $37.0M | +31% |
| Share-based compensation | $20.0M | $19.0M | $1.0M | +5% |
| Working capital & other | $250M | −$90.0M | $340M | — |
| Operating cash flow | $680M | $117M | $563M | +481% |
| Free Cash Flow (company-reported) | $634M | $87.0M | $547M | +629% |
| Capital expenditures | $46.0M | $30.0M | $16.0M | +53% |
Questions
How much did Nexstar Media Group's revenue grow year over year in Q3 2026?
Nexstar Media Group's revenue rose $935M (+78%) from $1.2B in Q3 2025 to $2.1B in Q3 2026.
What drove Nexstar Media Group's revenue change in Q3 2026?
Advertising +$547M (+115%); Distribution Service +$382M (+54%); Other +$6.0M (+46%).