# Nextpower Inc. (NXT)

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

**Price:** USD 77.63 (-5.06% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 81.77 · day 76.5–80.48 · 52w 76.5–163.13 · market cap $11.9B · NMS

## Key facts
- Last four reported quarters (through Jul 3, 2026): revenue $3.63B, net income $594M (16.4% margin), free cash flow $549M (SEC filings).
- Valuation: P/E 20.1x (avg 23.6x at the last 3 fiscal year-ends).
- 1 of 80 tracked superinvestors hold NXT (13F, Q2 2026): 1 new, 0 added, 0 reduced, 0 unchanged.
- Analysts: Buy (mean 1.86 on a 1–5 scale) (29 analysts), mean target USD 132.11 (range 70–175).
- Total return with dividends: 1Y -14.1% vs S&P 500 +14.9%; 5Y +150.3% vs S&P 500 +80.3%.
- Next earnings: 2026-10-28, EPS estimate USD 1.1, revenue estimate $1.06B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.46B | $1.90B | $2.50B | $2.96B | $3.56B | $3.63B |
| Gross profit | $147M | $287M | $813M | $1.01B | $1.16B | — |
| Operating income | $65.9M | $168M | $587M | $639M | $697M | $702M |
| Net income | $0K | $1.1M | $306M | $509M | $586M | $594M |
| EPS (diluted) | — | $0.02 | $3.37 | $3.47 | $3.84 | — |
| Free cash flow | -$153M | $104M | $423M | $622M | $514M | $549M |
| Gross margin | 10.1% | 15.1% | 32.5% | 34.1% | 32.6% | — |
| Operating margin | 4.5% | 8.9% | 23.5% | 21.6% | 19.6% | 19.3% |
| Net margin | 0.0% | 0.1% | 12.3% | 17.2% | 16.5% | 16.4% |
| Revenue growth | +21.9% | +30.5% | +31.4% | +18.4% | +20.3% | — |
| Cash + short-term investments | $29.1M | $130M | $474M | $766M | $1.09B | — |
| Total debt | $0K | $147M | $148M | $0K | — | — |
Fiscal years end Mar. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jul 3, 2026)
P/E 20.1x · P/S 3.3x · P/FCF 21.7x · P/B 4.7x · FCF yield 4.60% · Earnings yield 4.98%
P/E at fiscal year-ends: Mar 2026 31.4x, Mar 2025 12.4x, Mar 2024 27.1x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold NXT. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Terry Smith | Fundsmith | 2.49% | $340M | New position |

## Analysts
Consensus Buy (mean 1.86 on a 1–5 scale), 29 analysts; mean target USD 132.11 (low 70, high 175).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-21 | Citigroup | Target lowered | Buy | $121 → $111 |
| 2026-10-21 | BMO Capital | Target lowered | Outperform | $132 → $114 |
| 2026-10-19 | JP Morgan | Target lowered | Overweight | $152 → $136 |
| 2026-10-15 | Mizuho | Target lowered | Neutral | $111 → $101 |
| 2026-10-14 | Susquehanna | Target lowered | Positive | $157 → $150 |
| 2026-10-13 | Barclays | Target lowered | Overweight | $147 → $146 |
| 2026-10-07 | Citigroup | Target lowered | Buy | $132 → $121 |
| 2026-09-30 | Piper Sandler | Target lowered | Overweight | $116 → $110 |
| 2026-09-22 | Baird | Target lowered | Outperform | $156 → $116 |
| 2026-09-09 | Piper Sandler | Initiated | Overweight | $116 |
| 2026-08-05 | GLJ Research | Reiterated | Buy | $149 |
| 2026-08-04 | Mizuho | Target lowered | Neutral | $142 → $111 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2023-02-06) |
|---|---|---|
| Total return | -14.1% | +150.3% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -14.2% | +28.1% |
| Volatility (annualized) | 66.6% | 58.5% |
| Max drawdown | -50.4% (May 2026→Oct 2026) | -50.4% (May 2026→Oct 2026) |

## Peers (Solar)
FSLR (First Solar, Inc.) USD 171.25 -2.04% · ENPH (Enphase Energy, Inc.) USD 31.35 -2.00% · SEDG (SolarEdge Technologies, Inc.) USD 32.94 -0.75% · RUN (Sunrun Inc.) USD 7.7 +1.05% · SHLS (Shoals Technologies Group, Inc.) USD 7.73 -2.83% · CSIQ (Canadian Solar Inc.) USD 9.22 -6.21%

## More
Full page: https://nexqual.com/NXT · 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

## Supply chain and relationships (SEC annual reports)

Named in NXT's own 10-K filed 2026-05-19 (https://www.sec.gov/Archives/edgar/data/1852131/000185213126000017/nxt-20260331.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Bentek | "The acquisition combines Bentek's engineered, pre-assembled eBOS solutions with our solar tracker platform, providing customers with streamlined procurement and project logistics from a single source." |

## Revenue by region (quarter ended 2026-07-03)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| U.S. | $775.6M | 82.9% | +29.4% |
| Rest of the World | $159.6M | 17.1% | -39.7% |
| Total revenue | $935.2M | 100% | — |

## Customer concentration

Period ended 2024-03-31: 17% of revenue from unnamed direct customers (10-K, filed 2026-05-19).

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $1.10 | $1.16 | -5.4% | $1.06B | 22 |
| Next quarter (ends 2026-12-31) | $1.18 | $1.25 | -5.8% | $1.15B | 21 |
| Current fiscal year (ends 2027-03-31) | $4.67 | $4.72 | -1.1% | $4.33B | 21 |
| Next fiscal year (ends 2028-03-31) | $5.69 | $5.92 | -4.0% | $5.20B | 21 |