Nexstar Media Group vs Warner Bros. Discovery
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KIRA’s take AI analyst
I put Nexstar Media Group and Warner Bros. Discovery side by side, using each one’s latest annual report. Here is what stands out:
- Warner Bros. Discovery is the larger business, with $37.3B of revenue in fiscal 2025 against $4.9B for Nexstar Media Group, about 7.5 times as much.
- Warner Bros. Discovery grew revenue faster (−5.2%, against −8.5%).
- Nexstar Media Group kept more of each dollar of sales as operating profit (17.2% operating margin, against 2.0%).
- Nexstar Media Group turned more of its sales into free cash flow (15.0% FCF margin, against 8.3%).
- Nexstar Media Group earned a higher return on the capital invested in it (5.6%, against 0.6%).
Who comes out ahead
Of the 10 measures where higher (or lower) is clearly better, how many each company leads.
Nexstar Media Group
NXST
6/10
Operating marginNet marginFCF marginReturn on capitalReturn on equityShare count change
Warner Bros. Discovery
WBD
4/10
Revenue growth5-year growthPiotroski F-scoreNet debt / EBITDA
Side by side
Best in the row
| Latest fiscal year | NXST FY25 | WBD FY25 |
|---|---|---|
| Size | ||
| Market cap | $5.1B | $79.7B |
| Revenue | $4.9B | $37.3B |
| Free cash flow | $743M | $3.1B |
| Net income | $109M | $727M |
| Growth | ||
| Revenue growth | −8.5% | −5.2% |
| 5-year growth | 1.9% | 28.4% |
| Share count change | −6.4% | 3.3% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 17.2% | 2.0% |
| Net margin | 2.2% | 2.0% |
| FCF margin | 15.0% | 8.3% |
| Return on capital | 5.6% | 0.6% |
| Return on equity | 5.1% | 2.1% |
| Balance sheet | ||
| Net debt | $6.1B | $28.7B |
| Net debt / EBITDA | 4.6x | 4.5x |
| Dividends and buybacks | $351M | $0.0M |
| Valuation & quality | ||
| P/E | 31.3x | — |
| Piotroski F-score | 5 | 7 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.