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Friday 6 November 2026
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NextDecade Corporation
NEXT Energy Oil & Gas Equipment & Services
- EPS
- +612.0%
- Free cash flow
- +24.7%
- Total debt
- +81.4%
Quarter to September 2026, against a year earlier
5.79
0.06
−1.03%
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Target Price Range
Analyst price targets
Free accountTen years at a glance
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | — | — | — | — | — | — | 2,360 | 2,360 | 4,273 | +34.6% | |
| Gross margin, % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | 0.00 | 0.0 pt | ||||||
| EBT | (8) | (35) | (42) | (36) | (14) | (22) | (60) | (222) | 277 | (430) | 390 | +54.8% | ||||||
| EBT margin, % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 pt | ||||||
| Net income | (8) | (35) | (42) | (36) | (14) | (22) | (60) | (222) | 277 | (430) | 390 | +54.8% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | n/m | |||||
| Earnings | (0.09) | (0.35) | (0.41) | (0.45) | (0.24) | (0.34) | (0.65) | (0.94) | (0.24) | (1.17) | 1.21 | +33.3% | ||||||
| Cash flow | (0.08) | (0.13) | (0.22) | (0.37) | (0.22) | (0.15) | (0.31) | (0.38) | (0.37) | (0.65) | (0.14) | +27.0% | ||||||
| Capex | (0.20) | (0.15) | (0.18) | (0.19) | (0.28) | (0.10) | (0.26) | (8.93) | (9.93) | (18.49) | (20.00) | +65.1% | ||||||
| Free cash flow | (0.28) | (0.27) | (0.39) | (0.56) | (0.50) | (0.25) | (0.57) | (9.31) | (10.30) | (19.13) | (20.14) | +60.0% | ||||||
| Book value | 0.71 | 1.02 | 1.40 | 1.72 | 1.47 | 1.58 | 1.97 | 3.81 | 6.75 | 8.78 | 14.07 | +32.2% | ||||||
| Shares, m | 96 | 101 | 107 | 109 | 118 | 119 | 130 | 195 | 259 | 262 | 265 | +11.9% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | — | — | — | — | 0 | — | |||||
| P/S | — | — | — | — | — | — | — | — | — | — | 0 | — | ||||||
| P/B | — | — | — | — | — | — | — | — | — | — | 0 | — | ||||||
| EV/Sales | — | — | — | — | — | — | — | — | — | — | 0 | — | ||||||
| EV/FCF | — | — | — | — | — | — | — | — | — | — | 0 | — | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | (7) | (13) | (23) | (41) | (26) | (18) | (40) | (74) | (96) | (169) | (37) | +42.1% | |||||
| Capex | (19) | (15) | (19) | (20) | (32) | (12) | (34) | (1,738) | (2,568) | (4,847) | (5,336) | +84.7% | ||||||
| Free cash flow | (27) | (28) | (42) | (61) | (59) | (30) | (74) | (1,811) | (2,663) | (5,016) | (5,373) | +79.0% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | 14 | 34 | 65 | 57 | 18 | 18 | 39 | (238) | (183) | (618) | (1,163) | n/m | |||||
| Net debt | (18) | (41) | (76) | (78) | (23) | (26) | (62) | 1,522 | 3,528 | 7,804 | 11,397 | n/m | ||||||
| Shareholders’ equity | 68 | 103 | 149 | 188 | 173 | 188 | 257 | 740 | 1,744 | 2,301 | 3,754 | +47.9% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | (8.72) | (36.82) | (30.52) | (24.89) | (13.61) | (19.06) | (31.56) | (10.05) | (1.27) | (3.25) | (0.67) | +5.5 pt | |||||
| ROIC | (10.51) | (35.74) | (36.40) | (19.95) | (9.16) | (7.49) | (17.51) | (3.39) | (2.03) | (1.40) | (0.98) | +9.1 pt | ||||||
| ROE | (22.96) | (41.27) | (46.70) | (56.15) | (38.34) | (100.58) | (227.17) | (45.98) | (4.97) | (15.15) | (3.27) | +7.8 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | 3 | 35 | 47 | 88 | 57 | 61 | 109 | 160 | 237 | 360 | — | +70.2% | |||||
| Revenue/emp, $m | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fundamentals updated 2 Nov 2026
NextDecade Corporation vs peers in Oil & Gas Equipment & Services (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| WTTR Select Water Solutions, Inc. | $2.0B | 58.0× | 36.7× | +8.67% (above 0%: growing) | +70.00% (above 0%: growing) | +56.98% (above 0%: growing) | 19.41% | 8.68% | Compare |
| NESR National Energy Services Reunited | $1.9B | 20.4× | 13.4× | +59.07% (above 0%: growing) | +175.00% (above 0%: growing) | +45.79% (above 0%: growing) | 15.61% | 12.45% | Compare |
| LBRT Liberty Energy Inc. | $1.9B | 47.4× | 97.1× | +26.26% (above 0%: growing) | n/m | −548.07% (below 0%: shrinking) | 16.81% | 1.61% | Compare |
| INVX Innovex International, Inc. | $1.7B | 35.1× | 31.2× | +10.44% (above 0%: growing) | −34.09% (below 0%: shrinking) | −39.84% (below 0%: shrinking) | 36.17% | 12.20% | Compare |
| FLOC Flowco Holdings Inc. | $1.7B | 11.9× | 15.6× | +22.07% (above 0%: growing) | +38.10% (above 0%: growing) | +7.07% (above 0%: growing) | 53.60% | 17.48% | Compare |
| NEXT NextDecade Corporation | $1.6B | 4.9× | — | — | n/m | +24.70% (above 0%: growing) | 0.00% | 0.00% | |
| XPRO Expro Group Holdings N.V. | $1.4B | 935× | 21.3× | +6.95% (above 0%: growing) | n/m | −23.77% (below 0%: shrinking) | 21.65% | 1.11% | Compare |
| RES RPC, Inc. | $1.2B | — (loss-making) | 23.7× | +4.61% (above 0%: growing) | n/m | −35.59% (below 0%: shrinking) | 25.22% | (11.50%) | Compare |
| VTOL Bristow Group Inc. | $1.1B | 13.4× | 12.1× | +13.37% (above 0%: growing) | −47.25% (below 0%: shrinking) | −292.76% (below 0%: shrinking) | 28.68% | 10.89% | Compare |
| Median of peers | $1.7B | 35.1× | 22.5× | +11.91% | +38.10% | −29.68% | 23.44% | 9.78% |
Pay and ownership Proxy statement filed 23 April 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 12.84m | 5.98m | 252.15 |
| 2024 | 4.73m | 17.04m | 368.90 |
| 2023 | 11.59m | 13.73m | 228.23 |
| 2022 | 11.11m | 14.94m | 236.36 |
| 2021 | 9.20m | 8.77m | 136.36 |
Ownership
Directors and executive officers, together
2.60%
Hanwha Group Entities
25.10%
Global LNG North America Corp.
16.90%
General Atlantic Entities
6.00%
Ninteenth Investment Company
5.40%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement