Nexstar

The price is attractive. You pay 10.5× its owner earnings: the cash an owner could take out each year, which is in the historically attractive zone. At today's price, the market is assuming roughly -2% yearly growth; analysts expect 120%. The price, in other words, assumes less than the experts do.

The trajectory is solid and the balance sheet is fragile. The company scores 6/20 on our value-creation score: not creating value. Analysts lean positive.

What to watch: Some accounting patterns deserve a closer look. The financial cushion is thinner than comfortable. As always: this describes the company's numbers; it is not a recommendation.