A Business at a Glance
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Nextpower Inc.
NXT
$15.3B
Mkt Cap
$100.03
-4.27%
Nextpower Inc. (NXT) has a current P/E ratio of 25.5, compared to its historical median P/E of 14.6. The stock is currently considered Expensive based on its historical valuation range.
Nextpower Inc. (NXT) has a 5-year average return on invested capital (ROIC) of 38.9%. This indicates strong capital allocation and a potential competitive advantage.
Nextpower Inc. (NXT) has a market capitalization of $15.3B. It is classified as a large-cap stock.
Nextpower Inc. (NXT) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 0.00%.
Based on historical P/E analysis, Nextpower Inc. (NXT) appears expensive. The current P/E of 25.5 is 75% above its historical median of 14.6. The estimated fair value CAGR (P/E method) is 95.8%.
Nextpower Inc. (NXT) operates in the Search, Detection, Navigation, Guidance, Aeronautical Sys industry, within the Technology sector.
Nextpower Inc. (NXT) reported annual revenue of $3.6 billion in its most recent fiscal year, based on SEC EDGAR filings.
Nextracker is a leading global solar technology platform provider that designs and manufactures solar tracking systems and integrated energy yield management solutions for utility-scale and distributed generation solar applications. The company's core product, NX Horizon, is a single-axis solar tracker with independent-row architecture that enables solar panels to follow the sun's movement, increasing energy yield by up to 25% compared to fixed-tilt systems and improving the levelized cost of energy for project owners. Nextracker has shipped more than 130 GW of solar tracker systems across six continents and serves engineering, procurement and construction firms, solar project developers, and project owners; the company is a qualified preferred provider to major solar EPCs and developers globally. Beyond core trackers, Nextracker has expanded its platform through acquisitions to include foundations, electrical balance-of-systems solutions, AI-powered robotics for panel cleaning, and power conversion technology, positioning itself as an integrated solar power plant technology provider. The business model is project-based, with customers placing firm orders and contracts that populate backlog; revenue recognition occurs upon shipment and installation. Nextracker's competitive moat derives from its nine consecutive years as the global market leader by gigawatts shipped, proprietary independent-row tracking technology, TrueCapture energy yield management system, flexible and diversified global supply chain, and deepening platform integration that creates switching costs for customers.
【Strong backlog-driven growth】 Management expects continued momentum supported by record backlog exceeding $5.25 billion, which provides substantial visibility into future revenue and execution. The company anticipates accelerating growth in its non-tracker business, with more than 40% growth expected in fiscal 2027 as power conversion and complementary platform products ramp, while maintaining healthy tracker market growth. Global electricity demand is forecast to grow 3.6% annually through 2030 driven by data centers, electrification, and industrial expansion, creating structural tailwinds for solar adoption. Management is increasingly confident in exceeding its previously disclosed 2030 revenue outlook and plans to provide updated 2030 targets at a Capital Markets Day later in fiscal 2027. The company continues to prioritize organic innovation and targeted acquisitions to build a more integrated power plant technology platform while maintaining disciplined capital allocation and targeting long-term adjusted EBITDA margins in the low 20% range.
| Metric | Target | Period |
|---|---|---|
| Revenue | $3.8 billion–$4.1 billion | FY2027 |
| Adjusted EBITDA | $825 million–$900 million | FY2027 |
| Capital expenditures | $75 million–$100 million | FY2027 |
| Adjusted free cash flow | $450 million–$500 million | FY2027 |
Revenue (FY2027): “we are increasing the targets that we outlined at Capital Markets Day SIX months ago to revenue in the range of $3.8 billion-$4.1 billion and adjusted EBITDA in the range of $825 million-$900 million.”
Adjusted EBITDA (FY2027): “we are increasing the targets that we outlined at Capital Markets Day SIX months ago to revenue in the range of $3.8 billion-$4.1 billion and adjusted EBITDA in the range of $825 million-$900 million.”
Capital expenditures (FY2027): “We expect capital expenditures to be in the range of $75 million-$100 million and adjusted free cash flow in the range of $450 million-$500 million.”
Adjusted free cash flow (FY2027): “We expect capital expenditures to be in the range of $75 million-$100 million and adjusted free cash flow in the range of $450 million-$500 million.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q2 FY2027 Earnings Call, Q1 FY2027 Earnings Call, Q4 FY2026 Earnings Call, Q3 FY2026 Earnings Call
| Metric | TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|---|---|
| Revenue | 3.6B | 3.6B | 3.0B | 2.5B | 1.9B | 1.5B |
| Net Income | 586M | 586M | 509M | 306M | 1.1M | - |
| EPS | $3.84 | $3.84 | $3.47 | $3.37 | $0.01 | - |
| Free Cash Flow | 514M | 514M | 622M | 423M | 104M | -153M |
| ROIC | 46.2% | 54.5% | 66.9% | 24.3% | 9.9% | - |
| Gross Margin | 32.6% | 32.6% | 34.1% | 32.5% | 15.1% | 10.1% |
| Debt/Equity | 0.00 | 0.00 | 0.00 | 0.15 | -0.05 | - |
| Dividends/Share | $0.00 | - | - | - | $0.19 | - |
| Operating Income | 697M | 697M | 639M | 587M | 168M | 66M |
| Operating Margin | 19.6% | 19.6% | 21.6% | 23.5% | 8.9% | 4.5% |
| ROE | 25.1% | 29.6% | 38.9% | -29.4% | -0.0% | - |
| Shares Outstanding | 153M | 153M | 147M | 91M | 114M | - |
| Metric | |||||||
|---|---|---|---|---|---|---|---|
| Income Statement | |||||||
| Revenue | 1.2B | 1.5B | 1.9B | 2.5B | 3.0B | 3.6B | 3.6B |
| Gross Margin | 19.4% | 10.1% | 15.1% | 32.5% | 34.1% | 32.6% | 32.6% |
| R&D | 13M | 14M | 22M | 42M | 79M | 121M | 121M |
| SG&A | 60M | 67M | 97M | 184M | 290M | 342M | 342M |
| EBIT | 159M | 66M | 168M | 587M | 639M | 697M | 697M |
| Op. Margin | 13.3% | 4.5% | 8.9% | 23.5% | 21.6% | 19.6% | 19.6% |
| Net Income | N/A | N/A | 1.1M | 306M | 509M | 586M | 586M |
| Net Margin | N/A | N/A | 0.1% | 12.3% | 17.2% | 16.5% | 16.5% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||
| ROIC | N/A | N/A | 9.9% | 24.3% | 66.9% | 54.5% | 46.2% |
| ROE | N/A | N/A | -0.0% | -29.4% | 38.9% | 29.6% | 25.1% |
| ROA | N/A | N/A | 0.1% | 15.6% | 17.8% | 16.1% | 14.4% |
| Cash Flow | |||||||
| Op. Cash Flow | 94M | -147M | 108M | 429M | 656M | 563M | 563M |
| Free Cash Flow | 92M | -153M | 104M | 423M | 622M | 514M | 514M |
| Owner Earnings | 73M | -161M | 71M | 368M | 524M | 412M | 412M |
| CapEx | 2.5M | 5.9M | 3.2M | 6.2M | 34M | 49M | 49M |
| Maint. CapEx | 17M | 11M | 4.6M | 4.4M | 13M | 31M | 31M |
| Growth CapEx | 0 | 0 | 0 | 1.8M | 21M | 19M | 19M |
| D&A | 17M | 11M | 4.6M | 4.4M | 13M | 31M | 31M |
| CapEx/OCF | N/A | N/A | 3.0% | 1.4% | 5.2% | N/A | 8.8% |
| Capital Allocation | |||||||
| Dividends Paid | 0 | 4.0M | 21M | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | 0.6% | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 694M | 0 | 0 | 395K | 395K |
| Buyback Yield | N/A | N/A | 37.3% | 10.8% | N/A | 0.0% | 0.0% |
| Stock-Based Comp | 4.3M | 3.0M | 32M | 57M | 119M | 120M | 120M |
| Debt Repayment | 0 | 0 | 20M | 0 | 150M | 0 | 0 |
| Balance Sheet | |||||||
| Net Debt | N/A | -29M | 17M | -326M | -766M | -1.1B | -1.1B |
| Cash & Equiv. | 191M | 29M | 130M | 474M | 766M | 1.1B | 1.1B |
| Long-Term Debt | N/A | 0 | 147M | 144M | 0 | 0 | N/A |
| Debt/Equity | N/A | N/A | -0.05 | 0.15 | 0.00 | 0.00 | 0.00 |
| Interest Coverage | N/A | N/A | 1684.8 | 1174.2 | 61.9 | N/A | N/A |
| Equity | 0 | 0 | -3.1B | 992M | 1.6B | 2.3B | 2.3B |
| Total Assets | N/A | 1.0B | 1.4B | 2.5B | 3.2B | 4.1B | 4.1B |
| Total Liabilities | N/A | 516M | 935M | 1.5B | 1.6B | 1.7B | 1.7B |
| Intangibles | N/A | 2.5M | 1.3M | 1.5M | 53M | 78M | 78M |
| Retained Earnings | N/A | 0 | -3.1B | -3.1B | -2.6B | -2.0B | -2.0B |
| Working Capital | N/A | 241M | 365M | 877M | 1.1B | 1.7B | 1.7B |
| Current Assets | N/A | 714M | 872M | 1.8B | 2.2B | 2.8B | 2.8B |
| Current Liabilities | N/A | 473M | 507M | 891M | 1.0B | 1.2B | 1.2B |
| Per Share Data | |||||||
| EPS | N/A | N/A | 0.01 | 3.37 | 3.47 | 3.84 | 3.84 |
| Owner EPS | N/A | N/A | 0.62 | 4.05 | 3.57 | 2.70 | 2.70 |
| Book Value | N/A | N/A | -26.91 | 10.92 | 11.10 | 15.30 | 15.30 |
| Cash Flow/Share | N/A | N/A | 0.94 | 4.72 | 4.47 | 3.69 | 4.04 |
| Dividends/Share | N/A | N/A | 0.19 | N/A | N/A | N/A | 0.00 |
| Shares Out. | N/A | N/A | 114.3M | 90.9M | 146.7M | 152.6M | 152.6M |
| Valuation | |||||||
| P/E Ratio | N/A | N/A | N/A | 16.7 | 12.4 | N/A | 26.0 |
| P/FCF | N/A | N/A | 35.6 | 12.1 | 10.2 | N/A | 29.7 |
| EV/EBIT | N/A | N/A | 11.1 | 7.4 | 7.5 | N/A | 20.3 |
| Price/Book | N/A | N/A | N/A | 5.3 | 3.9 | N/A | 6.5 |
| Price/Sales | N/A | N/A | 0.9 | 1.5 | 2.1 | N/A | 4.3 |
| FCF Yield | N/A | N/A | 5.6% | 8.3% | 9.8% | N/A | 3.4% |
| Market Cap | N/A | N/A | 1.9B | 5.1B | 6.3B | 0 | 15.3B |
| Avg. Price | N/A | N/A | 31.37 | 42.21 | 43.14 | 0.00 | 100.03 |
| Year-End Price | N/A | N/A | 32.52 | 56.27 | 43.15 | 0.00 | 100.03 |
Nextpower Inc. passes 4 of 9 quality checks, suggesting mixed fundamentals.
Nextpower Inc. trades at 25.5x trailing earnings, compared to its 15-year median P/E of 14.6x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 25.3x vs a median of 12.1x. The company's 5-year average ROIC is 38.9% with a gross margin of 24.9%. At current prices, the estimated annualized return to fair value is +5.3%.
Nextpower Inc. (NXT) has a net profit margin of 16.5%. This is a healthy margin.
Nextpower Inc. (NXT) generated $514 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Nextpower Inc. (NXT) has a debt-to-equity ratio of 0.00. This indicates a conservatively financed balance sheet.
Nextpower Inc. (NXT) reported earnings per share (EPS) of $3.84 in its most recent fiscal year.
Nextpower Inc. (NXT) has a return on equity (ROE) of 29.6%. This indicates the company generates strong returns for shareholders.
Nextpower Inc. (NXT) has a 5-year average gross margin of 24.9%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 6 years of financial data for Nextpower Inc. (NXT), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Nextpower Inc. (NXT) has a book value per share of $15.30, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects continued momentum supported by record backlog exceeding $5.25 billion, which provides substantial visibility into future revenue and execution. The company anticipates accelerating growth in its non-tracker business, with more than 40% growth expected in fiscal 2027 as power conversion and complementary platform products ramp, while maintaining healthy tracker market growth. Global electricity demand is forecast to grow 3.6% annually through 2030 driven by data centers, electrification, and industrial expansion, creating structural tailwinds for solar adoption. Management is increasingly confident in exceeding its previously disclosed 2030 revenue outlook and plans to provide updated 2030 targets at a Capital Markets Day later in fiscal 2027. The company continues to prioritize organic innovation and targeted acquisitions to build a more integrated power plant technology platform while maintaining disciplined capital allocation and targeting long-term adjusted EBITDA margins in the low 20% range.
Based on recent SEC filings and earnings calls, Nextpower Inc. (NXT) has provided the following forward guidance: Revenue: $3.8 billion–$4.1 billion (FY2027); Adjusted EBITDA: $825 million–$900 million (FY2027); Capital expenditures: $75 million–$100 million (FY2027); Adjusted free cash flow: $450 million–$500 million (FY2027).