Nexstar Broadcasting Group Inc (NXST)

Financial leverage ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Total assets	US$ in thousands	11,468,000	11,693,000	11,819,000	11,945,000	12,263,000	12,047,000	12,310,000	12,464,000	12,678,900	13,098,300	12,915,500	13,090,800	13,264,500	13,283,000	13,287,600	13,347,500	13,404,300	13,290,500	13,540,100	13,575,400
Total stockholders’ equity	US$ in thousands	219,000	2,219,000	2,267,000	2,321,000	2,299,000	2,332,000	2,543,000	2,624,000	2,741,000	2,926,100	2,869,700	2,915,700	2,850,340	2,618,740	2,610,170	2,574,200	2,518,390	2,234,630	2,180,320	2,093,150
Financial leverage ratio		52.37	5.27	5.21	5.15	5.33	5.17	4.84	4.75	4.63	4.48	4.50	4.49	4.65	5.07	5.09	5.19	5.32	5.95	6.21	6.49

December 31, 2024 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $11,468,000K ÷ $219,000K
= 52.37

The financial leverage ratio of Nexstar Broadcasting Group Inc has shown a decreasing trend over the period from March 31, 2020, to December 31, 2024. The ratio decreased from 6.49 on March 31, 2020, to 4.49 on March 31, 2022, indicating a reduction in the company's reliance on debt financing compared to its equity.

However, starting from September 30, 2022, the ratio slightly increased to 4.48 and then further rose to 5.33 by December 31, 2023. The significant spike in the financial leverage ratio to 52.37 by December 31, 2024, is likely an outlier or an error in the data, considering the historical trend. It is important to verify the accuracy of the data for December 31, 2024, to ensure the integrity of the analysis.

Overall, the decreasing trend in the financial leverage ratio up to March 31, 2022, followed by an increase after September 30, 2022, suggests changes in the company's capital structure and financing decisions over the analyzed period, potentially impacting its financial risk and solvency.