Nexstar Broadcasting Group Inc (NXST)

Financial leverage ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Total assets	US$ in thousands	12,078,000	12,679,000	13,264,500	13,404,300	13,989,700
Total stockholders’ equity	US$ in thousands	2,299,000	2,741,000	2,850,400	2,518,390	2,031,500
Financial leverage ratio		5.25	4.63	4.65	5.32	6.89

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $12,078,000K ÷ $2,299,000K
= 5.25

The financial leverage ratio of Nexstar Media Group Inc has shown fluctuations over the past five years. The ratio was 5.25 in 2023, which represents an increase from the previous year when it stood at 4.63 in 2022. Comparing it to 2021, the financial leverage ratio remained relatively stable at 4.65. However, there was a notable increase in leverage in 2020 with a ratio of 5.32, followed by a decrease in 2019 with a ratio of 6.89, indicating high financial leverage in that year. This pattern suggests varying levels of debt usage by the company to finance its operations and investments over the years, with a peak in 2019 and a subsequent decline in recent years.