Nextracker Inc. Financials
Nextracker Inc. (NXT) reported $3.6B in revenue for fiscal year 2026, up 20.3% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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).
Higher margins and light reinvestment needs are turning growth into a cash-rich operating model by the latest year.
Across the period, gross margin expansion from10.1% to32.6% coincided with consistently modest capital spending, so the profit improvement was not being bought with heavy new assets. That helps explain why cash accumulation reached$1.1B even as free-cash-flow margin eased to14.4% , leaving the company more liquid while still self-funding operations.
The latest year shows growth without full drop-through: operating margin slipped to
Cash conversion remained healthy, but net income of
Financial Health Signals
Scored against operating companies for FY2026. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Nextracker Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Nextracker Inc. has an operating margin of 19.6%, meaning the company retains $20 of operating profit per $100 of revenue. This strong profitability earns a score of 78/100, reflecting efficient cost management and pricing power. This is down from 21.6% the prior year.
Nextracker Inc.'s revenue surged 20.3% year-over-year to $3.6B, reflecting rapid business expansion. This strong growth earns a score of 81/100.
Nextracker Inc. has a moderate D/E ratio of 0.74. This balance of debt and equity financing earns a leverage score of 52/100.
With a current ratio of 2.45, Nextracker Inc. holds $2.45 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 68/100.
Nextracker Inc. converts 14.4% of revenue into free cash flow ($513.6M). This strong cash generation earns a score of 82/100.
Nextracker Inc. earns a strong 25.1% return on equity (ROE), meaning it generates $25 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 86/100. This is down from 31.8% the prior year.
Nextracker Inc. scores 5.91, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($13.5B) relative to total liabilities ($1.7B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Nextracker Inc. passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Nextracker Inc. generates $0.96 in operating cash flow ($562.9M OCF vs $585.9M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
Earnings & Revenue
Nextracker Inc. generated $3.6B in revenue in fiscal year 2026. This represents an increase of 20.3% from the prior year.
Nextracker Inc.'s EBITDA was $727.9M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 11.5% from the prior year.
Nextracker Inc. reported $585.9M in net income in fiscal year 2026. This represents an increase of 13.3% from the prior year.
Nextracker Inc. earned $3.84 per diluted share (EPS) in fiscal year 2026. This represents an increase of 10.7% from the prior year.
Cash & Balance Sheet
Nextracker Inc. generated $513.6M in free cash flow in fiscal year 2026, representing cash available after capex. This represents a decrease of 17.4% from the prior year.
Nextracker Inc. held $1.1B in cash as of fiscal year 2026; long-term debt is not reported for that period.
Not reported for fiscal year 2026.
Margins & Returns
Nextracker Inc.'s gross margin was 32.6% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is down 1.5 percentage points from the prior year.
Nextracker Inc.'s operating margin was 19.6% in fiscal year 2026, reflecting core business profitability. This is down 2.0 percentage points from the prior year.
Nextracker Inc.'s net profit margin was 16.5% in fiscal year 2026, showing the share of revenue converted to profit. This is down 1.0 percentage points from the prior year.
Nextracker Inc.'s ROE was 25.1% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is down 6.7 percentage points from the prior year.
Capital Allocation
Nextracker Inc. invested $120.9M in research and development in fiscal year 2026. This represents an increase of 52.3% from the prior year.
Nextracker Inc. spent $395K on share buybacks in fiscal year 2026, returning capital to shareholders by reducing shares outstanding.
Nextracker Inc. invested $49.3M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents an increase of 45.3% from the prior year.
NXT Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|---|---|
| Revenue | $3.6B | $3.6B+20.3% | $3.0B+18.4% | $2.5B+31.4% | $1.9B+30.5% | $1.5B+21.9% | $1.2B |
| Cost of Revenue | $2.4B | $2.4B+23.0% | $2.0B+15.6% | $1.7B+4.4% | $1.6B+23.2% | $1.3B+36.0% | $963.6M |
| Gross Profit | $1.2B | $1.2B+15.0% | $1.0B+24.1% | $813.0M+183.3% | $287.0M+95.2% | $147.0M-36.6% | $232.0M |
| R&D Expenses | $143.9M | $120.9M+52.3% | $79.4M+87.4% | $42.4M+95.9% | $21.6M+52.5% | $14.2M+9.0% | $13.0M |
| SG&A Expenses | $368.4M | $341.9M+17.8% | $290.3M+58.2% | $183.6M+89.5% | $96.9M+44.7% | $66.9M+10.8% | $60.4M |
| Operating Income | $701.9M | $697.3M+9.1% | $639.1M+8.9% | $587.1M+248.5% | $168.5M+155.6% | $65.9M-58.4% | $158.5M |
| Income Tax | $127.7M | $127.9M-2.2% | $130.8M+17.0% | $111.8M+134.1% | $47.8M+236.4% | $14.2M-57.9% | $33.7M |
| Net Income | $594.1M | $585.9M+13.3% | $517.2M+4.2% | $496.2M+309.0% | $121.3M | $0 | $0 |
| EPS (Diluted) | — | $3.84+10.7% | $3.47+3.0% | $3.37 | $0.02 | N/A | N/A |
Not reported in any period shown, so not listed: Interest Expense.
TTM is the trailing twelve months, ending July 3, 2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
NXT Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|---|
| Total Assets | $4.1B+27.6% | $3.2B+26.7% | $2.5B+77.4% | $1.4B+39.6% | $1.0B | N/A |
| Current Assets | $2.8B+31.9% | $2.2B+22.0% | $1.8B+102.7% | $872.3M+22.2% | $714.1M | N/A |
| Cash & Equivalents | $1.1B+42.9% | $766.1M+61.6% | $474.1M+264.6% | $130.0M+347.2% | $29.1M-84.7% | $190.6M |
| Inventory | $262.3M+25.2% | $209.4M+3.8% | $201.7M+46.1% | $138.1M-19.8% | $172.2M | N/A |
| Accounts Receivable | $417.0M-11.7% | $472.5M+23.5% | $382.7M+41.1% | $271.2M+61.1% | $168.3M | N/A |
| Goodwill | $488.9M+31.8% | $371.0M+39.9% | $265.2M0.0% | $265.2M0.0% | $265.2M | N/A |
| Total Liabilities | $1.7B+11.1% | $1.6B+2.5% | $1.5B-66.0% | $4.5B+341.9% | $1.0B | N/A |
| Current Liabilities | $1.2B+12.6% | $1.0B+15.9% | $891.5M+75.7% | $507.4M+7.2% | $473.4M | N/A |
| Long-Term Debt | N/A | $0-100.0% | $144.0M-2.2% | $147.1M | $0 | N/A |
| Total Equity | $2.3B+43.4% | $1.6B+64.1% | $992.0M+132.3% | -$3.1B | $0-100.0% | $456.0M |
| Retained Earnings | -$2.0B+22.9% | -$2.6B+16.6% | -$3.1B+0.3% | -$3.1B | $0 | N/A |
NXT Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $602.6M | $562.9M-14.2% | $655.8M+52.9% | $429.0M+298.4% | $107.7M+173.2% | -$147.1M-256.0% | $94.3M |
| Capital Expenditures | $53.9M | $49.3M+45.3% | $33.9M+450.7% | $6.2M+93.5% | $3.2M-46.2% | $5.9M+140.2% | $2.5M |
| Free Cash Flow | $548.7M | $513.6M-17.4% | $621.9M+47.1% | $422.8M+304.7% | $104.5M+168.3% | -$153.0M-266.7% | $91.8M |
| Investing Cash Flow | -$110.7M | -$186.9M-0.4% | -$186.1M-2694.2% | -$6.7M-110.8% | -$3.2M+45.1% | -$5.8M-94.1% | -$3.0M |
| Financing Cash Flow | -$21.4M | -$47.2M+73.5% | -$177.6M-127.0% | -$78.3M-2091.1% | -$3.6M+58.7% | -$8.7M-109.0% | $96.3M |
| Share Buybacks | N/A | $395K | $0 | $0-100.0% | $693.8M | $0 | N/A |
Not reported in any period shown, so not listed: Dividends Paid.
TTM is the trailing twelve months, ending July 3, 2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
NXT Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|---|
| Gross Margin | 32.6%-1.5pp | 34.1%+1.6pp | 32.5%+17.4pp | 15.1%+5.0pp | 10.1%-9.3pp | 19.4% |
| Operating Margin | 19.6%-2.0pp | 21.6%-1.9pp | 23.5%+14.6pp | 8.9%+4.3pp | 4.5%-8.7pp | 13.3% |
| Net Margin | 16.5%-1.0pp | 17.5%-2.4pp | 19.9%+13.5pp | 6.4%+6.4pp | 0.0%0.0pp | 0.0% |
| Return on Equity | 25.1%-6.7pp | 31.8%-18.3pp | 50.0% | N/A | N/A | 0.0% |
| Return on Assets | 14.4%-1.8pp | 16.2%-3.5pp | 19.7%+11.2pp | 8.6%+8.6pp | 0.0% | N/A |
| Current Ratio | 2.45+0.4x | 2.09+0.1x | 1.98+0.3x | 1.72+0.2x | 1.51 | N/A |
| Debt-to-Equity | 0.74+0.7x | 0.00-0.1x | 0.15 | N/A | N/A | N/A |
| FCF Margin | 14.4%-6.6pp | 21.0%+4.1pp | 16.9%+11.4pp | 5.5%+16.0pp | -10.5%-18.2pp | 7.7% |
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Where Nextracker Inc. Ranks
Frequently Asked Questions
What is Nextracker Inc.'s annual revenue?
Nextracker Inc. (NXT) reported $3.6B in total revenue for fiscal year 2026. This represents a 20.3% 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 20.3% year-over-year, from $3.0B to $3.6B in fiscal year 2026.
Is Nextracker Inc. profitable?
Yes, Nextracker Inc. (NXT) reported a net income of $585.9M in fiscal year 2026, with a net profit margin of 16.5%.
What is Nextracker Inc.'s EBITDA?
Nextracker Inc. (NXT) had EBITDA of $727.9M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.
What is Nextracker Inc.'s gross margin?
Nextracker Inc. (NXT) had a gross margin of 32.6% in fiscal year 2026, 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 19.6% in fiscal year 2026, 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 16.5% in fiscal year 2026, 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 25.1% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.
What is Nextracker Inc.'s free cash flow?
Nextracker Inc. (NXT) generated $513.6M in free cash flow during fiscal year 2026. This represents a -17.4% 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 $562.9M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.
What are Nextracker Inc.'s total assets?
Nextracker Inc. (NXT) had $4.1B in total assets as of fiscal year 2026, including both current and long-term assets.
What are Nextracker Inc.'s capital expenditures?
Nextracker Inc. (NXT) invested $49.3M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.
How much does Nextracker Inc. spend on research and development?
Nextracker Inc. (NXT) invested $120.9M in research and development during fiscal year 2026.
What is Nextracker Inc.'s current ratio?
Nextracker Inc. (NXT) had a current ratio of 2.45 as of fiscal year 2026, which is generally considered healthy.
What is Nextracker Inc.'s debt-to-equity ratio?
Nextracker Inc. (NXT) had a debt-to-equity ratio of 0.74 as of fiscal year 2026, 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 14.4% for fiscal year 2026, 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 5.91, 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 3 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 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 0.96x, considered mixed 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 75 out of 100 on our Financial Health Score, indicating strong standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.