Nexstar Broadcasting Group Inc (NXST)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	637,000	1,204,800	1,006,810	1,205,630	474,532
Revenue	US$ in thousands	4,486,000	4,871,500	4,371,480	4,117,920	2,816,780
Gross profit margin		14.20%	24.73%	23.03%	29.28%	16.85%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $637,000K ÷ $4,486,000K
= 14.20%

The gross profit margin of Nexstar Media Group Inc has been fluctuating over the past five years. In 2019, the company had an exceptionally high gross profit margin of 100%, which may be an anomaly or related to specific circumstances during that year. Subsequently, there was a notable decrease in the gross profit margin in 2020 to 61.78%, followed by a further decline in 2021 to 59.93%. However, there was a slight improvement in 2022 with the gross profit margin increasing to 61.53%.

In the most recent year, as of December 31, 2023, Nexstar Media Group Inc's gross profit margin stands at 56.36%. This suggests that the company is generating 56.36 cents of gross profit for every dollar of revenue it earns. The decreasing trend in the gross profit margin from 2021 to 2023 may indicate challenges in managing production costs or pricing strategies that impact profitability. Further analysis and comparison with industry benchmarks would be necessary to fully assess the company's performance and competitiveness in its sector.