Nextracker Inc. Financials
This page shows Nextracker Inc. (NXT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Nextracker Inc. has an operating margin of 21.6%, meaning the company retains $22 of operating profit per $100 of revenue. This strong profitability earns a score of 70/100, reflecting efficient cost management and pricing power. This is down from 23.5% the prior year.
Nextracker Inc.'s revenue surged 18.4% year-over-year to $3.0B, reflecting rapid business expansion. This strong growth earns a score of 64/100.
Nextracker Inc. carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
Nextracker Inc.'s current ratio of 2.09 indicates adequate short-term liquidity, earning a score of 38/100. The company can meet its near-term obligations, though with limited headroom.
Nextracker Inc. converts 21.0% of revenue into free cash flow ($621.9M). This strong cash generation earns a score of 78/100.
Nextracker Inc. earns a strong 31.3% return on equity (ROE), meaning it generates $31 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 81/100. This is up from 30.9% the prior year.
Nextracker Inc. scores 7.75, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($17.9B) relative to total liabilities ($1.6B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Nextracker Inc. passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Nextracker Inc. generates $1.29 in operating cash flow ($655.8M OCF vs $509.2M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Nextracker Inc. generated $3.0B in revenue in fiscal year 2025. This represents an increase of 18.4% from the prior year.
Nextracker Inc.'s EBITDA was $652.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 10.3% from the prior year.
Nextracker Inc. reported $509.2M in net income in fiscal year 2025. This represents an increase of 66.3% from the prior year.
Nextracker Inc. earned $3.47 per diluted share (EPS) in fiscal year 2025. This represents an increase of 3.0% from the prior year.
Cash & Balance Sheet
Nextracker Inc. generated $621.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 47.1% from the prior year.
Nextracker Inc. held $766.1M in cash against $0 in long-term debt as of fiscal year 2025.
Margins & Returns
Nextracker Inc.'s gross margin was 34.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.6 percentage points from the prior year.
Nextracker Inc.'s operating margin was 21.6% in fiscal year 2025, reflecting core business profitability. This is down 1.9 percentage points from the prior year.
Nextracker Inc.'s net profit margin was 17.2% in fiscal year 2025, showing the share of revenue converted to profit. This is up 5.0 percentage points from the prior year.
Nextracker Inc.'s ROE was 31.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.4 percentage points from the prior year.
Capital Allocation
Nextracker Inc. invested $79.4M in research and development in fiscal year 2025. This represents an increase of 87.4% from the prior year.
Nextracker Inc. spent $0 on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.
Nextracker Inc. invested $33.9M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 450.7% from the prior year.
NXT Income Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $909.4M+0.5% | $905.3M+4.7% | $864.3M-6.5% | $924.3M+36.1% | $679.4M+6.9% | $635.6M-11.7% | $719.9M-2.3% | $736.5M |
| Cost of Revenue | $621.2M+1.4% | $612.4M+5.1% | $582.5M-5.8% | $618.7M+41.1% | $438.5M+6.7% | $410.8M-14.9% | $482.5M+21.8% | $396.0M |
| Gross Profit | $288.1M-1.6% | $292.9M+4.0% | $281.7M-7.8% | $305.7M+26.9% | $240.9M+7.2% | $224.8M-5.3% | $237.4M-30.3% | $340.5M |
| R&D Expenses | $29.3M+8.9% | $26.9M+24.7% | $21.6M-8.6% | $23.6M+17.4% | $20.1M+4.7% | $19.2M+16.2% | $16.5M-1.0% | $16.7M |
| SG&A Expenses | $82.7M-2.2% | $84.6M+14.5% | $73.9M-14.8% | $86.8M+23.0% | $70.6M-2.2% | $72.1M+18.6% | $60.8M+14.5% | $53.1M |
| Operating Income | $176.1M-2.9% | $181.3M-2.6% | $186.2M-4.6% | $195.3M+30.0% | $150.2M+12.6% | $133.5M-16.6% | $160.1M-40.9% | $270.7M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $49.3M+37.4% | $35.9M+6.2% | $33.8M-17.3% | $40.8M-4.7% | $42.8M+115.0% | $19.9M-26.6% | $27.2M-54.6% | $59.9M |
| Net Income | $131.2M-10.6% | $146.9M-6.6% | $157.2M+0.2% | $156.8M+36.0% | $115.3M-0.1% | $115.4M-5.2% | $121.7M-40.7% | $205.2M |
| EPS (Diluted) | $0.85-12.4% | $0.97-6.7% | $1.04 | N/A | $0.790.0% | $0.79-6.0% | $0.84 | N/A |
NXT Balance Sheet
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.8B+3.6% | $3.7B+8.2% | $3.4B+6.2% | $3.2B+7.0% | $3.0B+7.8% | $2.8B+5.4% | $2.6B+4.3% | $2.5B |
| Current Assets | $2.6B+5.0% | $2.4B+9.2% | $2.2B+3.5% | $2.2B+8.2% | $2.0B+11.8% | $1.8B+5.1% | $1.7B-4.0% | $1.8B |
| Cash & Equivalents | $952.6M+12.7% | $845.3M+13.7% | $743.4M-3.0% | $766.1M+10.5% | $693.5M+23.4% | $561.9M+19.1% | $471.9M-0.5% | $474.1M |
| Inventory | $275.3M+24.5% | $221.2M-2.6% | $227.1M+8.5% | $209.4M-3.6% | $217.3M+21.2% | $179.3M+8.0% | $166.0M-17.7% | $201.7M |
| Accounts Receivable | $452.2M-17.7% | $549.2M-0.8% | $553.6M+17.2% | $472.5M+3.2% | $457.9M+28.1% | $357.6M-11.0% | $401.9M+5.0% | $382.7M |
| Goodwill | $485.3M+2.5% | $473.7M+6.5% | $444.9M+19.9% | $371.0M+0.1% | $370.6M0.0% | $370.6M+12.9% | $328.4M+23.8% | $265.2M |
| Total Liabilities | $1.6B-2.0% | $1.7B+6.3% | $1.6B+1.2% | $1.6B+0.4% | $1.6B+4.9% | $1.5B-0.3% | $1.5B-2.4% | $1.5B |
| Current Liabilities | $1.1B-3.1% | $1.1B+8.5% | $1.0B-0.1% | $1.0B+14.2% | $904.6M+12.2% | $806.3M+0.4% | $803.0M-9.9% | $891.5M |
| Long-Term Debt | N/A | N/A | N/A | $0-100.0% | $138.8M-1.2% | $140.5M-1.2% | $142.2M-1.2% | $144.0M |
| Total Equity | $2.2B+8.3% | $2.0B+9.9% | $1.8B+11.0% | $1.6B+14.3% | $1.4B+11.1% | $1.3B+14.4% | $1.1B+13.0% | $992.0M |
| Retained Earnings | -$2.1B+5.8% | -$2.3B+6.1% | -$2.4B+6.1% | -$2.6B+5.8% | -$2.7B+4.1% | -$2.8B+3.9% | -$2.9B+4.0% | -$3.1B |
NXT Cash Flow Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $123.3M-34.0% | $186.9M+129.8% | $81.3M-65.7% | $237.3M+65.0% | $143.8M-6.5% | $153.8M+27.3% | $120.8M+8.4% | $111.5M |
| Capital Expenditures | $4.7M-69.4% | $15.5M+37.4% | $11.3M+11.7% | $10.1M+12.7% | $8.9M-25.6% | $12.0M+315.6% | $2.9M+25.1% | $2.3M |
| Free Cash Flow | $118.5M-30.8% | $171.4M+144.6% | $70.1M-69.2% | $227.2M+68.5% | $134.9M-4.8% | $141.8M+20.2% | $118.0M+8.0% | $109.2M |
| Investing Cash Flow | -$15.8M+64.5% | -$44.5M+54.7% | -$98.1M-457.9% | -$17.6M-96.6% | -$8.9M+80.8% | -$46.5M+58.9% | -$113.1M-3923.3% | -$2.8M |
| Financing Cash Flow | -$197K+99.5% | -$40.5M-580.0% | -$6.0M+96.0% | -$147.2M-4442.8% | -$3.2M+81.2% | -$17.3M-73.1% | -$10.0M-307.4% | -$2.4M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | $0 | $0 | N/A | N/A | $0 |
NXT Financial Ratios
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 31.7%-0.7pp | 32.4%-0.3pp | 32.6%-0.5pp | 33.1%-2.4pp | 35.5%+0.1pp | 35.4%+2.4pp | 33.0%-13.3pp | 46.2% |
| Operating Margin | 19.4%-0.7pp | 20.0%-1.5pp | 21.6%+0.4pp | 21.1%-1.0pp | 22.1%+1.1pp | 21.0%-1.2pp | 22.2%-14.5pp | 36.8% |
| Net Margin | 14.4%-1.8pp | 16.2%-2.0pp | 18.2%+1.2pp | 17.0%0.0pp | 17.0%-1.2pp | 18.2%+1.3pp | 16.9%-11.0pp | 27.9% |
| Return on Equity | 6.1%-1.3pp | 7.4%-1.3pp | 8.7%-0.9pp | 9.6%+1.5pp | 8.1%-0.9pp | 9.0%-1.9pp | 10.8%-9.8pp | 20.7% |
| Return on Assets | 3.5%-0.5pp | 4.0%-0.6pp | 4.6%-0.3pp | 4.9%+1.0pp | 3.9%-0.3pp | 4.2%-0.5pp | 4.6%-3.5pp | 8.2% |
| Current Ratio | 2.36+0.2 | 2.18+0.0 | 2.16+0.1 | 2.09-0.1 | 2.200.0 | 2.21+0.1 | 2.11+0.1 | 1.98 |
| Debt-to-Equity | 0.77-0.1 | 0.85-0.0 | 0.88+0.9 | 0.00-0.1 | 0.10-0.0 | 0.11-0.0 | 0.13-0.0 | 0.15 |
| FCF Margin | 13.0%-5.9pp | 18.9%+10.8pp | 8.1%-16.5pp | 24.6%+4.7pp | 19.9%-2.4pp | 22.3%+5.9pp | 16.4%+1.6pp | 14.8% |
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Frequently Asked Questions
What is Nextracker Inc.'s annual revenue?
Nextracker Inc. (NXT) reported $3.0B in total revenue for fiscal year 2025. This represents a 18.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Nextracker Inc.'s revenue growing?
Nextracker Inc. (NXT) revenue grew by 18.4% year-over-year, from $2.5B to $3.0B in fiscal year 2025.
Is Nextracker Inc. profitable?
Yes, Nextracker Inc. (NXT) reported a net income of $509.2M in fiscal year 2025, with a net profit margin of 17.2%.
What is Nextracker Inc.'s EBITDA?
Nextracker Inc. (NXT) had EBITDA of $652.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Nextracker Inc. have?
As of fiscal year 2025, Nextracker Inc. (NXT) had $766.1M in cash and equivalents against $0 in long-term debt.
What is Nextracker Inc.'s gross margin?
Nextracker Inc. (NXT) had a gross margin of 34.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Nextracker Inc.'s operating margin?
Nextracker Inc. (NXT) had an operating margin of 21.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Nextracker Inc.'s net profit margin?
Nextracker Inc. (NXT) had a net profit margin of 17.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Nextracker Inc.'s return on equity (ROE)?
Nextracker Inc. (NXT) has a return on equity of 31.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Nextracker Inc.'s free cash flow?
Nextracker Inc. (NXT) generated $621.9M in free cash flow during fiscal year 2025. This represents a 47.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Nextracker Inc.'s operating cash flow?
Nextracker Inc. (NXT) generated $655.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Nextracker Inc.'s total assets?
Nextracker Inc. (NXT) had $3.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Nextracker Inc.'s capital expenditures?
Nextracker Inc. (NXT) invested $33.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Nextracker Inc. spend on research and development?
Nextracker Inc. (NXT) invested $79.4M in research and development during fiscal year 2025.
What is Nextracker Inc.'s current ratio?
Nextracker Inc. (NXT) had a current ratio of 2.09 as of fiscal year 2025, which is generally considered healthy.
What is Nextracker Inc.'s debt-to-equity ratio?
Nextracker Inc. (NXT) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Nextracker Inc.'s return on assets (ROA)?
Nextracker Inc. (NXT) had a return on assets of 16.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Nextracker Inc.'s Altman Z-Score?
Nextracker Inc. (NXT) has an Altman Z-Score of 7.75, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Nextracker Inc.'s Piotroski F-Score?
Nextracker Inc. (NXT) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Nextracker Inc.'s earnings high quality?
Nextracker Inc. (NXT) has an earnings quality ratio of 1.29x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Nextracker Inc.?
Nextracker Inc. (NXT) scores 72 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.