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Friday 6 November 2026
Export NXT’s income statement to Excel — free account
Nextpower Inc.
NXT Technology Solar
Nextpower Inc.’s revenue for fiscal 2026 (year ended March 2026) was $3.6 billion, up 20.3% from fiscal 2025.
- Revenue
- +22.5%
- EPS
- +10.1%
- Free cash flow
- −21.3%
Quarter to September 2026, against a year earlier
99.69
0.11
+0.11%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to March
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM Sep ’26 | Trend | 10 yrs | 2027e | 2028e | 2029e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | 661 | 1,171 | 1,196 | 1,458 | 1,902 | 2,500 | 2,959 | 3,559 | 3,834 | +27.2% | 5,825 | 7,059 | 8,021 | +31.1% | |
| Gross margin, % | — | — | 7.41 | 18.18 | 19.40 | 10.09 | 15.09 | 32.52 | 34.09 | 32.59 | 33.04 | +25.2 pt | ||||||
| EBT | — | — | 1 | 149 | 158 | 65 | 169 | 608 | 648 | 714 | 754 | +155.7% | ||||||
| EBT margin, % | — | — | 0.15 | 12.71 | 13.22 | 4.47 | 8.89 | 24.32 | 21.90 | 20.05 | 19.67 | +19.9 pt | ||||||
| Net income | — | — | (2) | 118 | 124 | 51 | 121 | 496 | 517 | 586 | 613 | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | 16.95 | 30.03 | 30.66 | 31.69 | 41.45 | 32.44 | 20.62 | 24.05 | 25.31 | +5.1% | |||||
| Earnings | — | — | (0.04) | 3.07 | 3.23 | 1.11 | 0.02 | 3.97 | 3.55 | 3.96 | 4.08 | n/m | ||||||
| Cash flow | — | — | (0.36) | 6.18 | 2.42 | (3.20) | 2.35 | 5.57 | 4.57 | 3.80 | 3.79 | n/m | ||||||
| Capex | — | — | 0.00 | (0.04) | (0.08) | (0.12) | (0.07) | (0.09) | (0.24) | (0.33) | (0.41) | n/m | ||||||
| Free cash flow | — | — | (0.36) | 6.14 | 2.34 | (3.32) | 2.28 | 5.48 | 4.33 | 3.47 | 3.38 | n/m | ||||||
| Book value | — | — | 9.21 | 0.00 | 11.69 | (0.07) | (67.03) | 12.87 | 11.34 | 15.78 | 17.46 | +8.0% | ||||||
| Shares, m | — | — | 39 | 39 | 39 | 46 | 46 | 77 | 144 | 148 | 150 | +21.0% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | 20.11 | 20.11 | 20.11 | 20.11 | 20.11 | 17.40 | 11.90 | 30.60 | 24.47 | 20.1 | |||||
| P/S | — | — | 0.81 | 0.81 | 0.81 | 0.81 | 0.87 | 1.73 | 2.04 | 5.01 | 3.94 | 1.6 | ||||||
| P/B | — | — | 14.51 | 14.51 | 14.51 | 14.51 | 0.00 | 4.37 | 3.72 | 7.64 | 5.72 | 9.2 | ||||||
| EV/Sales | — | — | 0.75 | 0.75 | 0.75 | 0.75 | 0.88 | 1.60 | 1.83 | 4.74 | 3.71 | 1.5 | ||||||
| EV/FCF | — | — | 47.02 | 47.02 | 47.02 | 47.02 | 16.10 | 9.47 | 8.73 | 32.88 | 27.79 | 31.9 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | (14) | 241 | 94 | (147) | 108 | 429 | 656 | 563 | 574 | n/m | |||||
| Capex | — | — | (5) | (2) | (3) | (6) | (3) | (7) | (34) | (49) | (62) | +40.7% | ||||||
| Free cash flow | — | — | (14) | 239 | 91 | (153) | 105 | 422 | 622 | 514 | 512 | n/m | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | 54 | (60) | 192 | 241 | 365 | 877 | 1,124 | 1,683 | 1,685 | +63.4% | |||||
| Net debt | — | — | (14) | 2 | (186) | (24) | 19 | (326) | (766) | (1,095) | (1,030) | +86.4% | ||||||
| Shareholders’ equity | — | — | 359 | — | 456 | (3) | (3,076) | 992 | 1,628 | 2,334 | 2,646 | +30.7% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | 0.00 | 42.46 | 17.25 | 5.37 | 0.09 | 15.55 | 17.83 | 16.13 | 14.75 | +16.1 pt | |||||
| ROIC | — | — | 0.00 | 4,653.28 | 36.63 | 0.00 | 0.00 | 55.12 | 46.34 | 35.16 | 28.16 | +35.2 pt | ||||||
| ROE | — | — | 0.00 | 40.09 | 36.10 | 22.52 | (0.07) | (29.39) | 38.87 | 29.57 | 26.46 | +29.6 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | 477 | 606 | 1,050 | 1,300 | 1,993 | — | +43.0% | |||||
| Revenue/emp, $m | — | — | 0.00 | 0.00 | 0.00 | 3.06 | 3.14 | 2.38 | 2.28 | 1.79 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Mar 2026 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026
Business profile
Where the money comes from and where it goes Fiscal 2026
| Reportable Segment | 3,559 | 100.00% |
|---|---|---|
| Gross margin | 32.59% | |
| Operating margin | 19.59% | |
| Pre-tax margin | 20.05% |
Nextpower Inc. vs peers in Solar (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 |
|---|---|---|---|---|---|---|---|---|---|
| FSLR First Solar, Inc. | $21.0B | 11.4× | 10.1× | −22.82% (below 0%: shrinking) | +25.03% (above 0%: growing) | −118.49% (below 0%: shrinking) | 57.93% | 44.37% | Compare |
| NXT Nextpower Inc. | $15.0B | 24.5× | 20.2× | +22.54% (above 0%: growing) | +10.10% (above 0%: growing) | −21.25% (below 0%: shrinking) | 31.13% | 18.71% | |
| ENPH Enphase Energy, Inc. | $3.8B | 42.5× | 82.4× | −28.53% (below 0%: shrinking) | −65.31% (below 0%: shrinking) | −293.17% (below 0%: shrinking) | 43.34% | 2.20% | Compare |
| RUN Sunrun Inc. | $2.4B | 4.4× | 5.4× | +51.75% (above 0%: growing) | +814.29% (above 0%: growing) | +134.84% (above 0%: growing) | 0.00% | 13.96% | Compare |
| SEDG SolarEdge Technologies, Inc. | $1.6B | — (loss-making) | — (loss-making) | −4.15% (below 0%: shrinking) | n/m | −84.40% (below 0%: shrinking) | 33.19% | (0.58%) | Compare |
| SHLS Shoals Technologies Group, Inc. | $1.5B | 40.0× | 28.7× | +43.82% (above 0%: growing) | +51.57% (above 0%: growing) | +190.08% (above 0%: growing) | 31.95% | 14.83% | Compare |
| ARRY Array Technologies, Inc. | $816.2M | — (loss-making) | 18.1× | −5.57% (below 0%: shrinking) | −73.68% (below 0%: shrinking) | +205.42% (above 0%: growing) | 29.12% | 10.16% | Compare |
| DQ DAQO New Energy Corp. | $803.9M | — (loss-making) | — (loss-making) | −20.62% (below 0%: shrinking) | n/m | +35.96% (above 0%: growing) | (31.20%) | (40.50%) | Compare |
| JKS Jinko Holdings Limited - Unsponsored ADR | $517.2M | — (loss-making) | — (loss-making) | −27.48% (below 0%: shrinking) | n/m | +78.73% (above 0%: growing) | 4.15% | (11.62%) | Compare |
| Median of peers | $1.6B | 25.7× | 18.1× | −13.09% | +25.03% | +57.35% | 30.54% | 6.18% |
From the latest earnings call
- On the Q4 FY2026 call, CEO Daniel Shugar said customers wanted products beyond trackers to simplify procurement and improve installation and plant performance.
- CFO Charles Boynton said Nextpower was investing in power conversion and expected the business to generate revenue and profit in the following fiscal year.
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
102.51%
Held by the ten largest
54.12%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| BlackRock | 21.14m | 13.93% | −3.73m |
| Fidelity (FMR) | 18.75m | 12.36% | −1.50m |
| Vanguard | 13.66m | 9.00% | −722.77k |
| PRIMECAP Management | 6.69m | 4.41% | −72.08k |
| Invesco | 4.87m | 3.21% | +129.64k |
| State Street | 4.74m | 3.12% | −722.04k |
| Wellington Management | 3.43m | 2.26% | −314.17k |
| Geode Capital Management | 3.42m | 2.26% | −986.93k |
| Fundsmith LLP | 2.86m | 1.88% | +2.86m |
| Pictet Asset Management | 2.56m | 1.69% | −198.36k |
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.
Pay and ownership Proxy statement filed 7 July 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2026 | 22.20m | 64.42m | 396.00 |
| 2025 | 20.10m | 34.59m | 138.00 |
| 2024 | 20.73m | 22.61m | 185.00 |
| 2023 | 9.18m | 12.04m | 119.00 |
Ownership
Directors and executive officers, together
less than 1%
BlackRock, Inc.
13.48%
FMR LLC
13.37%
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
Nextpower Inc. (NXT) Latest News
2 Nov
28 Oct
14 Oct
12 Oct
8 Oct
5 Oct
NXT metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
Nextpower supplies technology for utility-scale solar power plants. Its main product is a solar tracking system: equipment that holds rows of panels and turns them to follow the sun. Tracking can increase the electricity a plant produces compared with keeping panels stationary. Nextpower’s systems allow rows to move independently, with motors, controls and sensors managing their position.
The company also sells foundations, steel panel frames and electrical components that collect and transport power. Its software and controls help customers monitor equipment, adjust trackers for site conditions and respond to severe weather. Other offerings include robotic inspection and fire detection. Some products are sold separately, while others can be combined with trackers for a project.