Solar technology company supplying smart tracking systems, software, and energy yield optimization for utility-scale solar projects.MoreShow less
Profile & Fundamentals
Nextracker (NXT.NASDAQ) Profile & Fundamentals
Review Nextracker reported earnings, valuation, balance sheet and ownership, with source tables and separate AI assessments.
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Company and Market Context
Nextracker: Company Profile & Ownership
Nextpower Inc. provides solar and energy technology solutions for utility-scale power plants in the United States and internationally. It offers tracking solutions, including NX Horizon, a solar tracking solution; NX Horizon-XTR, a terrain-following tracker to expand the addressable market for trackers on sites with sloped, uneven, and challenging terrain; NX Horizon Hail Pro adds automatic stowing using weather service information; and NX Horizon Low Carbon, a solar tracker solution with a reduced carbon footprint. The company also provides TrueCapture, an energy yield management system that addresses power production shortfalls; NX Anchor and NX Earth Truss, a solar foundation technology to facilitate solar project development in challenging soil conditions; Truss Driver, an advanced installation equipment; and NX Navigator, which assists solar power plant owners and operators in monitoring, controlling, and protecting their solar projects. It serves engineering, procurement, and construction firms, as well as solar project developers and owners. The company was formerly known as Nextracker Inc. and changed its name to Nextpower Inc. in November 2025. The company was founded in 2013 and is headquartered in Fremont, California.
Company profile record
Nextpower Inc.
Common Stock · Industrials · Electrical Components & Equipment
Company
- Company / asset
- Nextpower Inc.
- Security type
- Common Stock
- Sector
- Industrials
- Industry
- Electrical Components & Equipment
- HQ
- 🇺🇸 United States
- Head office
- 6200 Paseo Padre Parkway, Fremont, CA, United States, 94555
Leadership & scale
- Chief executive
- Mr. Daniel S. Shugar
- CEO year born
- 1964
- Full-time employees
- 2K
- Fiscal year end
- March
- IPO date
- 2023-02-09
Fundamentals snapshot
- Market Cap
- USD 16.1B
- P/E
- 26.4x
- Revenue (Q3 26)
- USD 1.1B
- Profit (Q3 26)
- USD 165.5M
- Dividend Yield
- --
- Revenue (FY 26)
- USD 3.6B
- Shares in public float
- 148M
- Insider ownership
- 0.64%
Reporting & identifiers
- Symbol
- NXT.NASDAQ
- Listing
- 🇺🇸 United States | Dividend Tax: 30%
- Ticker Currency
- USD
- Income Statement Currency
- USD
- Balance Sheet Currency
- USD
- Cash Flow Currency
- USD
- EPS Currency
- USD
- Contract Type
- SPOT
- ISIN
- US65290E1010
- Asset ID
- equity_7ccf94c0-abfe-5a07-8b54-0545a93e74dd
Nextracker: Ownership
Shares Outstanding
Latest: 153.9M | Max: 153.9M | Min: 41.9M
Latest reported ownership snapshot
Float Shares
96.13%
148.0M latest reported shares
Insider Ownership
0.64%
Latest reported insider stake
Short Float
0.09%
Latest reported short interest / float
Top Holders
Source tablesView ownership tables
Shares Outstanding
Annual reported shares outstanding; up to 10 reporting dates.
Scroll the table to see every column.
| Reporting date | Shares outstanding |
|---|---|
| 2020-01-01 | 45,869,200 |
| 2021-01-01 | 41,879,200 |
| 2022-01-01 | 45,869,200 |
| 2023-01-01 | 147,344,400 |
| 2024-01-01 | 149,028,000 |
| 2025-01-01 | 153,921,000 |
| 2026-01-01 | 153,909,000 |
Top Holders
Available reported ownership records.
Scroll the table to see every column.
| Holder | Shares | Ownership | Reported date |
|---|---|---|---|
| BlackRock Inc | 21,140,588 | 13.93% | 2026-06-30 |
| FMR Inc | 18,753,360 | 12.36% | 2026-06-30 |
| PRIMECAP Management Company | 6,688,767 | 4.41% | 2026-06-30 |
| Vanguard Capital Management, LLC | 6,504,906 | 4.29% | 2026-06-30 |
| Vanguard Portfolio Management, LLC | 5,956,173 | 3.93% | 2026-06-30 |
| iShares Core S&P Mid-Cap ETF | 5,451,310 | 3.59% | 2026-10-29 |
| Amvescap Plc. | 4,868,539 | 3.21% | 2026-06-30 |
| State Street Corp | 4,741,459 | 3.12% | 2026-06-30 |
| Vanguard MStar Total Stk Mkt Idx Invest | 4,604,859 | 3.03% | 2026-09-30 |
| Wellington Management Company LLP | 3,427,333 | 2.26% | 2026-06-30 |
| Geode Capital Management, LLC | 3,423,197 | 2.26% | 2026-06-30 |
| First Trust RBA Amer Indl RenaisTM ETF | 3,290,756 | 2.17% | 2026-10-29 |
| Vanguard Small Cap Index | 3,244,863 | 2.14% | 2026-09-30 |
| Fidelity OTC | 3,157,200 | 2.08% | 2026-08-31 |
| iShares Global Clean Engy Trns ETF $Dist | 3,016,451 | 1.99% | 2026-10-29 |
Nextracker: Earnings, Profitability & Valuation
Latest Financials Filed On
Earnings & Revenue
Earnings and Revenue Trajectory
AI Review
The company has delivered strong top-line momentum, with annual revenue expanding over twenty percent to 3.56 billion dollars in fiscal 2026. Growth has been driven by rapid utility solar deployment, record project order backlogs, and rising demand from technology companies seeking dedicated electricity for computing clusters. However, reported earnings reflect a mix of core operational strength and government tax subsidies. Free cash flow generation remains healthy at over 500 million dollars, confirming genuine cash conversion. Going forward, sustaining earnings growth will depend on converting booked orders efficiently while replacing temporary tax benefits with profitable new products.
The company has delivered strong top-line momentum, with annual revenue expanding over twenty percent to 3.56 billion dollars in fiscal 2026. Growth has been driven by rapid utility solar deployment, record project order backlogs, and rising demand from technology companies seeking dedicated electricity for computing clusters. However, reported earnings reflect a mix of core operational strength and government tax subsidies. Free cash flow generation remains healthy at over 500 million dollars, confirming genuine cash conversion. Going forward, sustaining earnings growth will depend on converting booked orders efficiently while replacing temporary tax benefits with profitable new products.
Revenue, Net Income, and Free Cash Flow
Latest: USD 3.6B | Max: USD 3.6B | Min: USD -153.0M
Valuation
P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.
Latest: 32x
Profitability & Margins
Margins and Operating Efficiency
AI Review
Profitability has remained resilient, with gross margins holding near thirty-three percent and operating margins near twenty percent in fiscal 2026. This stability demonstrates that solar developers are willing to pay a premium for systems that boost energy generation and meet domestic manufacturing rules. However, future profit margins face a tug-of-war. Government manufacturing tax credits currently support earnings but will gradually decline over the next several years. Expanding sales of proprietary yield-boosting software helps defend profitability, but branching into battery storage and electrical equipment could trim overall margins because hardware fabrication yields lower markups than software.
Profitability has remained resilient, with gross margins holding near thirty-three percent and operating margins near twenty percent in fiscal 2026. This stability demonstrates that solar developers are willing to pay a premium for systems that boost energy generation and meet domestic manufacturing rules. However, future profit margins face a tug-of-war. Government manufacturing tax credits currently support earnings but will gradually decline over the next several years. Expanding sales of proprietary yield-boosting software helps defend profitability, but branching into battery storage and electrical equipment could trim overall margins because hardware fabrication yields lower markups than software.
Profitability Margins
Latest: 32.6% | Max: 33.7% | Min: -0.2%
Latest Profitability Ratios as of 2026-03-31
Gross Margin
32.6%
Gross profit / revenue
Operating Margin
19.6%
Operating income / revenue
Net Margin
16.5%
Net income / revenue
FCF Margin
14.4%
Free cash flow / revenue
Source tablesView earnings, profitability & valuation tables
Revenue, Net Income, and Free Cash Flow
Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.
Scroll the table to see every column.
| Period end | Revenue (USD) | Net income (USD) | Free cash flow (USD) |
|---|---|---|---|
| 2019-03-31 | 660,741,000 | -1,590,000 | -18,440,000 |
| 2020-03-31 | 1,171,287,000 | 118,256,000 | 239,344,000 |
| 2021-03-31 | 1,195,617,000 | 124,348,000 | 91,310,000 |
| 2022-03-31 | 1,457,592,000 | 50,913,000 | -153,030,000 |
| 2023-03-31 | 1,902,137,000 | 118,887,000 | 104,486,000 |
| 2024-03-31 | 2,499,841,000 | 306,241,000 | 422,313,000 |
| 2025-03-31 | 2,959,197,000 | 509,168,000 | 621,873,000 |
| 2026-03-31 | 3,559,390,000 | 585,883,000 | 511,641,000 |
Published P/E Ratio
Published valuation snapshots retain each observation's earnings basis.
Scroll the table to see every column.
| Period end | P/E (times earnings) | Earnings basis |
|---|---|---|
| 2026-03-31 | 31.9 | Trailing four quarters |
| 2025-03-31 | 12.7 | Trailing four quarters |
| 2024-03-31 | 27.4 | Trailing four quarters |
| 2023-03-31 | 44.9 | Annual net income |
Profitability Margins
Matching annual reporting dates. Values are percentages.
Scroll the table to see every column.
| Period end | Gross margin (%) | Operating margin (%) | Net margin (%) | Free cash flow margin (%) |
|---|---|---|---|---|
| 2019-03-31 | 8.56 | 0.18 | -0.24 | -2.79 |
| 2020-03-31 | 18.18 | 12.71 | 10.1 | 20.43 |
| 2021-03-31 | 19.4 | 13.26 | 10.4 | 7.64 |
| 2022-03-31 | 10.09 | 4.52 | 3.49 | -10.5 |
| 2023-03-31 | 15.09 | 8.86 | 6.25 | 5.49 |
| 2024-03-31 | 27.67 | 23.49 | 12.25 | 16.89 |
| 2025-03-31 | 33.73 | 21.6 | 17.21 | 21.01 |
| 2026-03-31 | 32.59 | 19.59 | 16.46 | 14.37 |
Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Snapshot retrieved 2026-11-05.
Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.
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