Nexstar Broadcasting Group Inc (NXST)

Return on total capital

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Earnings before interest and tax (EBIT) (ttm)	US$ in thousands	708,000	771,100	1,033,100	1,188,100	1,313,100	1,343,800	1,265,200	1,219,500	1,175,400	1,381,131	1,447,328	1,355,281	1,375,396	1,101,363	879,381	833,072	655,131	671,409	742,687	767,237
Long-term debt	US$ in thousands	6,713,000	6,742,000	6,771,000	6,799,000	6,827,000	7,052,900	7,109,700	7,205,000	7,367,900	7,505,650	7,586,320	7,567,300	7,646,570	7,859,620	7,977,580	7,990,640	8,383,280	8,393,170	3,689,780	3,797,190
Total stockholders’ equity	US$ in thousands	2,299,000	2,332,000	2,543,000	2,624,000	2,741,000	2,926,100	2,869,700	2,915,700	2,850,400	2,618,740	2,610,170	2,574,200	2,518,390	2,234,630	2,180,320	2,093,150	2,031,500	1,928,720	1,943,780	1,887,300
Return on total capital		7.86%	8.50%	11.09%	12.61%	13.72%	13.47%	12.68%	12.05%	11.50%	13.64%	14.19%	13.36%	13.53%	10.91%	8.66%	8.26%	6.29%	6.50%	13.18%	13.50%

December 31, 2023 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $708,000K ÷ ($6,713,000K + $2,299,000K)
= 7.86%

Nexstar Media Group Inc's return on total capital has shown a declining trend over the past eight quarters. In Q4 2023, the company reported a return on total capital of 9.27%, which was lower than the previous quarter's 11.18% and significantly down from Q4 2022's 16.46%. This downward trend indicates that the company may be experiencing challenges in generating returns on the capital invested in its operations. It is important for investors and stakeholders to closely monitor this metric to assess the company's efficiency in utilizing its total capital to generate profits.