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Nexstar Media vs Sinclair: revenue, profit, margins and growth compared

Nexstar Media brought in $4.9B of revenue in fiscal 2025, Sinclair $3.2B in fiscal 2025. Revenue changed by -8.5% at Nexstar Media and -10.7% at Sinclair on the year before, so Nexstar Media grew faster. Nexstar Media kept 2.2% of its revenue as net profit, Sinclair -3.5%. Free cash flow was $743M at Nexstar Media and $115M at Sinclair.

Side by side, latest fiscal year

NXSTSBGI
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$4.9B$3.2B
Revenue growth-8.5%-10.7%
Net income$109M-$112M
Net margin2.2%-3.5%
Free cash flow$743M$115M
Free cash flow margin15.0%3.6%
Earnings per share (diluted)$3.00-$1.61
Cash$280M$866M
Debt$6.3B$4.4B
Price to earnings54.0n/a
Market value$5B$924.2M
Dividend yield4.59%n/a
Rank by revenue in sector#124 of 451 · Industrials#175 of 451 · Industrials

Over the years

Revenue
NXST FY2018: $2.8BNXST FY2019: $3BNXST FY2020: $4.5BNXST FY2021: $4.6BNXST FY2022: $5.2BNXST FY2023: $4.9BNXST FY2024: $5.4BNXST FY2025: $4.9BSBGI FY2021: $6.1BSBGI FY2023: $3.9BSBGI FY2023: $3.1BSBGI FY2024: $3.5BSBGI FY2025: $3.2BFY18FY19FY20FY21FY22FY23FY24FY25
NXST $4.9BSBGI $3.2B
Net income
NXST FY2018: $389.5MNXST FY2019: $230.3MNXST FY2020: $811.5MNXST FY2021: $834MNXST FY2022: $971MNXST FY2023: $346MNXST FY2024: $722MNXST FY2025: $109MSBGI FY2021: -$414MSBGI FY2023: $2.7BSBGI FY2023: -$291MSBGI FY2024: $310MSBGI FY2025: -$112MFY18FY19FY20FY21FY22FY23FY24FY25
NXST $109MSBGI -$112M
Net margin
NXST FY2018: 14.1%NXST FY2019: 7.6%NXST FY2020: 18.0%NXST FY2021: 17.9%NXST FY2022: 18.6%NXST FY2023: 7.0%NXST FY2024: 13.4%NXST FY2025: 2.2%SBGI FY2021: -6.7%SBGI FY2023: 67.5%SBGI FY2023: -9.3%SBGI FY2024: 8.7%SBGI FY2025: -3.5%FY18FY19FY20FY21FY22FY23FY24FY25
NXST 2.2%SBGI -3.5%
Revenue growth
NXST FY2019: +9.9%NXST FY2020: +48.1%NXST FY2021: +3.3%NXST FY2022: +12.1%NXST FY2023: -5.3%NXST FY2024: +9.6%NXST FY2025: -8.5%SBGI FY2023: -36.0%SBGI FY2023: -20.2%SBGI FY2024: +13.2%SBGI FY2025: -10.7%FY19FY20FY21FY22FY23FY24FY25
NXST -8.5%SBGI -10.7%
Free cash flow
NXST FY2018: $630.6MNXST FY2019: $220MNXST FY2020: $1BNXST FY2021: $1.1BNXST FY2022: $1.2BNXST FY2023: $850MNXST FY2024: $1.1BNXST FY2025: $743MSBGI FY2021: $247MSBGI FY2023: $694MSBGI FY2023: $143MSBGI FY2024: $14MSBGI FY2025: $115MFY18FY19FY20FY21FY22FY23FY24FY25
NXST $743MSBGI $115M

Fiscal years as each company reports them; the two may end in different months.

Questions about Nexstar Media and Sinclair

Which is bigger by revenue, Nexstar Media or Sinclair?

Nexstar Media is bigger by revenue: $4.9B in fiscal 2025, against $3.2B for Sinclair in fiscal 2025.

Which keeps more of its revenue as profit, Nexstar Media or Sinclair?

Nexstar Media had a net margin of 2.2% in fiscal 2025; Sinclair had -3.5% in fiscal 2025.

Which grew revenue faster, Nexstar Media or Sinclair?

In their latest fiscal years revenue changed by -8.5% at Nexstar Media and -10.7% at Sinclair.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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