Nextpower Inc.NXT
NasdaqGS•Technology•Solar
Nextpower Inc. provides solar and energy technology solutions for utility-scale power plants in the United States and internationally. It offers tracking solutions, including NX Horizon, a solar tracking solution; NX Horizon-XTR, a terrain-following tracker to expand the addressable market for trackers on sites with sloped, uneven, and challenging terrain; NX Horizon Hail Pro adds automatic stowing using weather service information; and NX Horizon Low Carbon, a solar tracker solution with a reduced carbon footprint. The company also provides TrueCapture, an energy yield management system that addresses power production shortfalls; NX Anchor and NX Earth Truss, a solar foundation technology to facilitate solar project development in challenging soil conditions; Truss Driver, an advanced installation equipment; and NX Navigator, which assists solar power plant owners and operators in monitoring, controlling, and protecting their solar projects. It serves engineering, procurement, and construction firms, as well as solar project developers and owners. The company was formerly known as Nextracker Inc. and changed its name to Nextpower Inc. in November 2025. The company was founded in 2013 and is headquartered in Fremont, California.
Nextpower Inc. (NXT) reported trailing twelve months revenue of $3.56B as of March 2026, a 20.3% increase year-over-year. Quarterly revenue reached $880.52M, reflecting continued top-line momentum.
Nextpower Inc. generated $585.88M in TTM net income, with quarterly EBITDA of $162.60M. The operating margin contracted from 21.1% to 17.4%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (17.4%) and net margin (17.1%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 17.0% a year ago, signaling stronger bottom-line efficiency.
NXT trades at a P/E of 28.4x (in line with broad market averages) and a P/S of 4.7x. The price-to-book ratio of 7.1x indicates a significant premium over book value.
The company generated $153.61M in free cash flow over the trailing twelve months, a 32.4% decrease year-over-year, indicating cash generation ability. The balance sheet shows $4.07B in total assets with no in long-term debt against $2.33B in stockholders equity. Data based on the most recent quarterly reports.
Competitive analysis based on 14 quarters of fundamental data
Operating margins are positive at ~20.6% on average, but show some variability — pricing power may be sensitive to market conditions.
Consistently high ROE averaging 32.2% suggests a durable competitive advantage and efficient capital allocation.
8 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue shows resilience with 5 of 7 quarters posting growth — demand is generally stable but has seen some soft patches.
Data-driven red flags and warnings across 14 quarters
Operating margins declined 9.4% — watch for continued compression, which may signal competitive or cost pressure.
FCF covers net income by 1.0x on average — earnings are well-supported by cash generation.
D/E ratio is 0.1 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares outstanding rose 4.0% — mild dilution. Compare to earnings growth to assess net per-share impact.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation