Nextracker Inc.
Description
Nextracker Inc., an energy solutions company, provides solar tracker and software solutions for utility-scale and distributed generation solar projects in the United States and internationally. The company offers tracking solutions, which includes NX Horizon, a solar tracking solution; and NX Horizon-XTR, a terrain-following tracker designed to expand the addressable market for trackers on sites with sloped, uneven, and challenging terrain. It also provides TrueCapture, a self-adjusting tracker control system, which boosts solar power plant production by optimizing the position of individual tracker row in response to site features, such as varying topography and changing weather conditions; and NX Navigator, that assists solar power plant owners and operators in monitoring, controlling, and protecting their solar projects. The company was founded in 2013 and is headquartered in Fremont, California. As of March 31, 2024 Nextracker Inc. was formerly a subsidiary of Flex Ltd.
About
CEO
Mr. Daniel S. Shugar
Employees
1,050
Instrument type
Common Stock
Sector
Technology
Industry
Solar
MIC code
XNGS
Address
6200 Paseo Padre Parkway, Fremont, CA 94555, United States
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Oscillators
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Summary
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Moving Averages
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Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Jan 26, 2026 | — | — | — | — |
| Oct 28, 2025 | — | — | — | — |
| Jul 30, 2025 | — | — | — | — |
| May 16, 2025 | — | — | — | — |
| Feb 2, 2025 | 0.59 | — | — | — |
Earnings estimate
|
Current Quarter
(Mar 2025)
|
Next Quarter
(Jun 2025)
|
Current Year
(Mar 2025)
|
Next Year
(Mar 2026)
|
|
|---|---|---|---|---|
| Number of analysts | 20 | 16 | 23 | 25 |
| Average estimate | 0.94 | 0.93 | 3.81 | 3.80 |
| Low estimate | 0.80 | 0.80 | 3.27 | 3.15 |
| High estimate | 1.06 | 1.06 | 3.99 | 4.19 |
| Last year EPS | 0.96 | 0.93 | 3.06 | 3.81 |
[stock_revenue_estimate]
Growth estimates
Current qtr (Mar 2025)
-1.810%
Next qtr. (Jun 2025)
0.250%
Current year (Mar 2025)
24.890%
Next year (Mar 2026)
-0.080%
Next 5 years (per annum)
—
Past 5 years (per annum)
—
Income statement
| 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
| Fiscal date | 2024-03-31 | 2023-03-31 | 2022-03-31 | 2021-03-31 | 2020-03-31 |
| Total reported revenue | 2.50B | 1.90B | 1.46B | 1.20B | 1.17B |
| Cost of revenue | 1.69B | 1.62B | 1.31B | 963.64M | 958.38M |
| Gross profit | 813.05M | 286.97M | 147.03M | 231.98M | 212.91M |
| Operating expense | |||||
| Research & development | 42.36M | 21.62M | 14.18M | 13.01M | 8.64M |
| Selling general and admin | 183.57M | 96.87M | 66.95M | 60.44M | 55.36M |
| Other operating expenses | — | — | — | — | — |
| Operating income | 587.12M | 168.49M | 65.91M | 158.53M | 148.91M |
| Non operating interest income | |||||
| Income | — | — | — | — | 24,000 |
| Expense | 13.82M | 1.83M | 34,000 | 502,000 | — |
| Other income expense | 34.70M | 2.43M | -765,000 | — | — |
| Pretax income | 608.00M | 169.08M | 65.11M | 158.03M | 148.93M |
| Tax provision | 111.78M | 47.75M | 14.20M | 33.68M | 30.67M |
| Net income | 496.22M | 121.33M | 50.91M | 124.35M | 118.26M |
| Basic EPS | 3.97 | 0.02 | 0.00 | 0.00 | 2.82 |
| Diluted EPS | 3.37 | 0.02 | 0.00 | 0.00 | 2.82 |
| Basic average shares | 77.07M | 45.89M | 41.88M | 41.88M | 41.88M |
| Diluted average shares | 77.07M | 45.89M | 41.88M | 41.88M | 41.88M |
| EBITDA | 626.18M | 175.54M | 76.29M | 175.34M | 166.85M |
| Net income from continuing op. | 496.22M | 121.33M | 50.91M | 124.35M | 118.26M |
| Minority interests | -189.97M | -2.45M | — | — | — |
| Preferred stock dividends | — | 117.74M | 50.91M | 124.35M | — |
Balance sheet
| 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|
| Fiscal date | 2024-03-31 | 2023-03-31 | 2022-03-31 | 2021-03-31 |
| Total assets | 2.52B | 1.42B | 1.02B | 880.97M |
| Current assets | ||||
| Cash | — | — | 29.07M | 190.59M |
| Cash equivalents | — | — | — | — |
| Cash and cash equivalents | 474.05M | 130.01M | 29.07M | 190.59M |
| Other short term investments | — | 29.30M | 9.30M | 27.40M |
| Accounts receivable | 382.69M | 271.16M | 168.30M | 121.42M |
| Other receivables | 397.12M | 297.96M | 292.41M | 146.79M |
| Inventory | 201.74M | 138.06M | 172.21M | 84.47M |
| Prepaid assets | — | — | — | — |
| Restricted cash | — | — | — | — |
| Assets held for sale | — | — | — | — |
| Hedging assets | — | — | — | — |
| Other current assets | 312.64M | 35.08M | 42.77M | 12.58M |
| Non current assets | ||||
| Properties | — | — | — | — |
| Land and improvements | — | — | — | — |
| Machinery furniture equipment | 22.41M | 19.14M | 14.65M | 13.67M |
| Construction in progress | 3.05M | 1.11M | 2.51M | 1.95M |
| Leases | 5.17M | 4.30M | 4.15M | 920,000 |
| Accumulated depreciation | -21.39M | -17.30M | -13.88M | -11.51M |
| Goodwill | 531.85M | 531.63M | 532.83M | 541.30M |
| Investment properties | — | — | — | — |
| Financial assets | — | — | — | — |
| Intangible assets | 1.55M | 1.32M | 2.53M | 10.99M |
| Investments and advances | — | — | — | — |
| Other non current assets | 474.61M | 530.79M | 28.12M | 16.54M |
| Total liabilities | 1.53B | 934.82M | 1.02B | 424.92M |
| Current liabilities | ||||
| Accounts payable | 456.64M | 211.36M | 266.60M | 231.46M |
| Accrued expenses | 82.41M | 59.77M | 26.18M | 35.62M |
| Short term debt | — | — | — | — |
| Deferred revenue | 225.54M | 176.47M | 77.87M | 77.38M |
| Tax payable | — | — | — | — |
| Pensions | — | — | — | — |
| Other current liabilities | 126.90M | 47.59M | 63.42M | 18.09M |
| Non current liabilities | ||||
| Long term debt | 143.97M | 147.15M | — | — |
| Provision for risks and charges | — | 230.30M | — | — |
| Deferred liabilities | — | — | — | — |
| Derivative product liabilities | — | — | — | — |
| Other non current liabilities | 491.30M | 280.25M | 4.39M | 4.07M |
| Shareholders equity | ||||
| Common stock | 14,000 | 15,000 | — | — |
| Retained earnings | -3.07B | -3.08B | — | — |
| Other shareholders equity | 17,000 | — | — | — |
| Total shareholders equity | 992.03M | 484.86M | -3.04M | 456.05M |
| Additional paid in capital | 4.03B | — | — | — |
| Treasury stock | — | — | — | — |
| Minority interest | 31.02M | 3.56B | — | — |
Cash flow statement
| 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | 496.22M | 121.33M | 50.91M | 124.35M | 118.26M |
| Depreciation | 4.36M | 4.63M | 11.15M | 16.81M | 17.95M |
| Deferred Taxes | -37.99M | 25.99M | -5.34M | -2.85M | -5.81M |
| Stock-Based Compensation | 56.78M | 31.99M | 3.05M | 4.31M | 4.24M |
| Other Non-Cash Items | -67,000 | 1.75M | 1.61M | 1.46M | 1.55M |
| Accounts Receivable | -213.12M | -167.35M | -191.07M | -47.83M | -36.83M |
| Accounts Payable | 245.37M | -37.03M | 35.82M | 55.56M | 69.95M |
| Other Assets & Liabilities | -125.01M | 148.39M | -62.32M | -47.32M | 56.21M |
| Operating Cash Flow | 426.55M | 129.71M | -156.19M | 104.48M | 225.50M |
| Investing Activities | |||||
| Capital Expenditures | -6.16M | -3.16M | -5.75M | -2.46M | -1.66M |
| Net Intangibles | -500,000 | — | — | -500,000 | — |
| Net Acquisitions | — | — | — | — | — |
| Purchase of Investments | — | — | — | — | — |
| Sale of Investments | — | — | — | — | — |
| Investing Cash Flow | -6.16M | -3.16M | -5.75M | -2.46M | -1.66M |
| Financing Activities | |||||
| Long-Term Debt Issuance | — | 170.00M | — | — | — |
| Long-Term Debt Payments | — | -20.00M | — | — | — |
| Other Financing Charges | -78.27M | -153.65M | -8.66M | 427.73M | -250.77M |
| Financing Cash Flow | -78.27M | -3.57M | -8.66M | 96.33M | -250.77M |
| Other Cash Details | |||||
| End Cash Position | 474.05M | 130.01M | 29.07M | 190.59M | 2.95M |
| Income Tax Paid | — | — | — | — | — |
| Interest Paid | — | — | — | — | — |
| Free Cash Flow | 422.31M | 104.49M | -153.03M | 91.31M | 239.34M |
Top Institutional Holders
| Holder | Date Reported | Shares | Value | % Held |
|---|---|---|---|---|
| iShares Core S&P Midcap ETF | Nov 30, 2024 | 4,606,713 | 216.01M | 3.21% |
| Vanguard Total Stock Market Index Fund | Sep 30, 2024 | 4,263,503 | 199.92M | 2.97% |
| iShares Russell 2000 ETF | Nov 30, 2024 | 4,049,223 | 189.87M | 2.82% |
| Vanguard Small-Cap Index Fund | Sep 30, 2024 | 3,410,719 | 159.93M | 2.37% |
| Vanguard Horizon Fund-Capital Opportunity Fund | Sep 30, 2024 | 2,570,197 | 120.52M | 1.79% |
| Vanguard Extended Market Index Fund | Sep 30, 2024 | 2,140,683 | 100.38M | 1.49% |
| Invesco ETF TR II-Invesco Solar ETF | Nov 30, 2024 | 2,003,770 | 93.96M | 1.39% |
| Vanguard Small-Cap Growth Index Fund | Sep 30, 2024 | 1,880,941 | 88.20M | 1.31% |
| Fidelity Small Cap Index Fund | Oct 31, 2024 | 1,472,479 | 69.04M | 1.02% |
| Vanguard Fenway Fds-Primecap Core Fund | Sep 30, 2024 | 1,451,021 | 68.04M | 1.01% |
Article
Kessler Topaz Meltzer & Check, LLP Reminds NXT Shareholders of Deadline in Securities Fraud Class Action Lawsuit Filed Against Nextracker Inc. (NXT)
RADNOR, Pa. , Feb. 10, 2025 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed against Nextracker Inc. ("Nextracker") (NASDAQ: NXT) on behalf of those who purchased or otherwise acquired Nextracker common stock between February 1, 2024, and August 1, 2024, inclusive (the "Class Period").
Feb 10, 2025
Article
Levi & Korsinsky Notifies Shareholders of Nextracker Inc. (NXT) of a Class Action Lawsuit and an Upcoming Deadline
NEW YORK, NY / ACCESS Newswire / February 10, 2025 / If you suffered a loss on your Nextracker Inc. (NASDAQ:NXT) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information: https://zlk.com/pslra-1/nextracker-inc-lawsuit-submission-form?prid=128428&wire=1 or contact Joseph E. Levi, Esq.
Feb 10, 2025
Article
How Much Upside is Left in Nextracker (NXT)? Wall Street Analysts Think 25.28%
The consensus price target hints at a 25.3% upside potential for Nextracker (NXT). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.
Feb 10, 2025
