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Nexstar Media Group vs Liberty Media: NXST and FWONA compared
Nexstar Media Group is the larger company: $2.1B of revenue in its latest quarter (Q3 2026) against $1.2B for Liberty Media (Q3 2026). Nexstar Media Group is growing faster (+78% against +13% a year earlier). Nexstar Media Group is more profitable, with an operating margin of 24.9% against 19.3%.
Where the money goes: NXST and FWONA
Nexstar Media Group (NXST) · Q3 2026
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 follows the revenue to costs, profit and cash.
Liberty Media (FWONA) · Q3 2026
Liberty Media, Q3 2026: revenue $1.2B (+13% year over year), operating margin 19.3%, net earnings $163M, operating cash flow $382M. The chart follows the revenue to costs, profit and cash.
| Nexstar Media Group (NXST) | Liberty Media (FWONA) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $2.1B | $1.2B |
| Revenue growth, Y/Y | +78% | +13% |
| Operating margin | 24.9% | 19.3% |
| Net earnings | $255M | $163M |
| Net margin | 12.0% | 13.3% |
| Operating cash flow | $680M | $382M |
| Free cash flow | $634M | $337M |
| Market value | $6.0B | $26.7B |
| P/E | 16.9× | 75.5× |
| Analysts’ mean target | $246.75 | $111.00 |
Where the revenue comes from
Nexstar Media Group
- Distribution Service: $1.1B (51%)
- Advertising: $1.0B (48%)
- Other: $19.0M (1%)
Liberty Media
- Primary: $1.0B (84%)
- Other: $193M (16%)
Questions
Which is bigger, Nexstar Media Group or Liberty Media?
Nexstar Media Group is the larger company: $2.1B of revenue in its latest quarter (Q3 2026) against $1.2B for Liberty Media (Q3 2026).
Is Nexstar Media Group or Liberty Media growing faster?
Nexstar Media Group is growing faster (+78% against +13% a year earlier).
Which is more profitable, Nexstar Media Group or Liberty Media?
Nexstar Media Group is more profitable, with an operating margin of 24.9% against 19.3%.
More: Nexstar Media Group earnings · how Nexstar Media Group makes money · Liberty Media earnings · how Liberty Media makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 5, 2026; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.