$Nexstar Media Group (NXST.US)$🎯 2024.3.24 Current price 16...

New data: In 23Q4, revenue, operating profit, and net profit all declined sharply, but the month-on-month recovery has begun.

Revenue shrank by 5.3% in 2023. Operating profit shrank by 48.6% due to a decline in gross margin and a sharp increase in depreciation and amortization and loss. Interest expenses continued to increase sharply, accounting for 60% of operating profit, and net profit shrank 71.4%.

While the balance ratio increased from 78% to 80.9%, total assets continued to shrink. Goodwill and other intangible assets of $8 billion were 3.5 times the net assets of $2,313 billion, and long-term loans of $6.713 billion did not change much. Treasury stocks increased from $1,707 million to $2.173 billion, and the number of common shares decreased by 9.2%.

The net operating cash flow was much higher than the net investment, so that the net operating cash flow in the past five years was finally slightly higher than the net investment amount.

Currently, the price-earnings ratio is 17.1, and the five-year average net profit of 640 million yuan corresponds to a price-earnings ratio of 8.6 and a dividend ratio of 3.2%. Overall, the valuation is within a reasonable range, and no adjustments have been made yet.