Filing Flows › Nexstar Media Group (NXST) › How it makes money
How Nexstar Media Group (NXST) makes money
Nexstar Media Group (NXST) made $2.1B of revenue in the third quarter 2026 (Q3 2026), +78% from a year earlier. Distribution Service brought in $1.1B (51%); Advertising brought in $1.0B (48%); Other brought in $19.0M (1%). Of every dollar of revenue, 25¢ was left as operating profit, 12¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Distribution Service | $1.1B | 51.1% | -2% | +54% |
| Advertising | $1.0B | 48.0% | +19% | +115% |
| Other | $19.0M | 0.9% | +27% | +46% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $2.1B | 100.0% |
| Operating profit | $532M | 24.9% |
| Income tax | $93.0M | 4.4% |
| Net earnings | $255M | 12.0% |
| Operating cash flow | $680M | 31.9% |
| Free cash flow | $634M | 29.7% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $2.1B | +78% |
| Q2 2026 | $2.0B | +62% |
| Q1 2026 | $1.4B | +13% |
| Q4 2025 | $1.3B | -13% |
| Q3 2025 | $1.2B | -12% |
| Q2 2025 | $1.2B | -3% |
| Q1 2025 | $1.2B | -4% |
From Nexstar Media Group's 10-Q filed Nov 5, 2026 (on EDGAR).
Questions
How does Nexstar Media Group make money?
Nexstar Media Group (NXST) made $2.1B of revenue in the third quarter 2026 (Q3 2026), +78% from a year earlier. Distribution Service brought in $1.1B (51%); Advertising brought in $1.0B (48%); Other brought in $19.0M (1%). Of every dollar of revenue, 25¢ was left as operating profit, 12¢ was left as net earnings.
What is Nexstar Media Group's biggest business?
Distribution Service: $1.1B in the third quarter 2026, 51% of revenue, +54% from a year earlier.
What is Nexstar Media Group's profit margin?
Net earnings were $255M, 12.0% of revenue, in the third quarter 2026; the operating margin was 24.9%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.