Nexstar Broadcasting Group Inc (NXST)

Debt-to-capital ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	6,713,000	6,827,000	7,367,900	7,646,570	8,383,280
Total stockholders’ equity	US$ in thousands	2,299,000	2,741,000	2,850,400	2,518,390	2,031,500
Debt-to-capital ratio		0.74	0.71	0.72	0.75	0.80

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $6,713,000K ÷ ($6,713,000K + $2,299,000K)
= 0.74

The debt-to-capital ratio for Nexstar Media Group Inc has shown a fluctuating trend over the past five years. In 2019, the ratio was relatively high at 0.81, indicating that a significant portion of the company's capital structure was funded by debt. However, in the following years, the ratio decreased to 0.75 in 2020 and remained stable at around 0.72 in 2021 and 2022, before increasing slightly to 0.75 in 2023.

This trend suggests that Nexstar Media Group Inc has made efforts to reduce its reliance on debt financing over the years, which may be indicative of a strategy to lower financial risk and improve overall financial stability. However, it is worth noting that the ratio increased in 2023 compared to the previous two years, signaling a potential shift in the company's capital structure towards higher debt levels.

Overall, while the fluctuations in the debt-to-capital ratio indicate some changes in Nexstar Media Group Inc's financing mix, further analysis of the company's financial performance and strategic objectives would be necessary to fully assess the implications of these changes on its financial health and sustainability.