# NextDecade Corporation (NEXT)

> Source: Nexqual · https://nexqual.com/NEXT · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, NextDecade Corporation (NEXT), nexqual.com/NEXT" · informational, not investment advice.

**Price:** USD 5.91 (-2.31% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 6.05 · day 5.71–6.16 · 52w 4.75–9.24 · market cap $1.57B · NCM

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $0K, net income -$369M, free cash flow -$5.73B (SEC filings).
- Analysts: Hold (mean 2.60 on a 1–5 scale) (5 analysts), mean target USD 8.7 (range 7–11).
- Total return with dividends: 1Y +1.2% vs S&P 500 +14.9%; 5Y +77.0% vs S&P 500 +80.3%.
- Next earnings: 2026-10-29, EPS estimate USD -0.53, revenue estimate $0K.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $0K | $0K | $0K | $0K | $0K | $0K |
| Operating income | -$19.5M | -$54.5M | -$123M | -$171M | -$226M | -$227M |
| Net income | -$22.0M | -$60.1M | -$222M | $277M | -$430M | -$369M |
| EPS (diluted) | -$0.34 | -$0.65 | -$0.94 | -$0.24 | -$1.17 | — |
| Free cash flow | -$30.1M | -$73.8M | -$1.81B | -$2.66B | -$5.02B | -$5.73B |
| Cash + short-term investments | — | — | $38.2M | $148M | $144M | — |
| Total debt | — | $0K | $1.82B | $4.04B | $8.83B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
FCF yield -364.06% · Earnings yield -23.46% · Buyback yield (TTM) 1.07% · Net debt $10.3B · EV $11.9B
P/E at fiscal year-ends: Dec 2024 7.2x.

## Analysts
Consensus Hold (mean 2.60 on a 1–5 scale), 5 analysts; mean target USD 8.7 (low 7, high 11).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-07-16 | Goldman Sachs | Initiated | Neutral | $8.5 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +1.2% | +77.0% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +1.2% | +12.1% |
| Volatility (annualized) | 59.9% | 77.7% |
| Max drawdown | -35.2% (May 2026→Oct 2026) | -59.3% (Jul 2025→Jan 2026) |

## Peers (Oil & Gas Equipment & Services)
XPRO (Expro Ltd) USD 15.66 -6.62% · RES (RPC, Inc.) USD 6.02 -4.75% · INVX (Innovex International, Inc.) USD 27.93 -5.16% · NESR (National Energy Services Reunit) USD 19.61 -9.59% · VTOL (Bristow Group, Inc.) USD 38.03 -1.32% · AESI (Atlas Energy Solutions Inc.) USD 8.6 -8.41%

## More
Full page: https://nexqual.com/NEXT · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Company outlook (8-K filed 2017-07-28)

- "(2) factually supportable; and (3) with respect to the statement of operations, expected to have a continuing impact on the Company's results following the completion of the business combination."
- "(2) factually supportable; and (3) with respect to the statement of operations, expected to have a continuing impact on the Company's results following the completion of the Merger."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.53 | $-0.53 | +0.0% | $0 | 1 |
| Next quarter (ends 2026-12-31) | $-0.55 | $0.00 | — | $0 | 1 |
| Current fiscal year (ends 2026-12-31) | $-2.10 | $-2.10 | +0.0% | $0 | 1 |
| Next fiscal year (ends 2027-12-31) | $0.93 | $0.07 | +1330.8% | $2.45B | 1 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-10-29): ±13.6%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 59.6% | ±13.6% |
| 2026-12-18 | 56 | 57.4% | ±18.3% |
| 2027-01-15 | 84 | 57.0% | ±22.1% |
| 2027-04-16 | 175 | 59.3% | ±32.7% |