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Profile & Fundamentals

Nextracker Profile & Fundamentals

Name: Nextracker financial chart data preview
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Company and Market Context

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

Official website

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

Updated 2026-09-13

Market Cap: USD 12.5B
P/E: 21.0x
Revenue (Q2 26): USD 935.2M
Profit (Q2 26): USD 165.4M
Dividend Yield: --
Revenue (FY 26): USD 3.6B
Shares in public float: 149.1M
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

Ownership

Shares Outstanding

Shares outstanding

Annual reported shares outstanding. Values in shares.

Top holders

BlackRock Inc24,872,657 shares · 16.39% · Reported 2026-03-31
FMR Inc20,248,938 shares · 13.35% · Reported 2026-03-31
Vanguard Portfolio Management, LLC6,704,709 shares · 4.42% · Reported 2026-03-31
PRIMECAP Management Company6,688,767 shares · 4.41% · Reported 2026-06-30
Vanguard Capital Management, LLC6,405,953 shares · 4.22% · Reported 2026-03-31
State Street Corp5,463,504 shares · 3.60% · Reported 2026-03-31
iShares Core S&P Mid-Cap ETF5,200,107 shares · 3.43% · Reported 2026-08-31

View more holders (8)

Amvescap Plc.4,738,899 shares · 3.12% · Reported 2026-03-31
Vanguard MStar Total Stk Mkt Idx Invest4,546,566 shares · 3.00% · Reported 2026-07-31
Geode Capital Management, LLC4,410,129 shares · 2.91% · Reported 2026-03-31
Wellington Management Company LLP3,427,333 shares · 2.26% · Reported 2026-06-30
Vanguard Small Cap Index3,280,808 shares · 2.16% · Reported 2026-07-31
First Trust RBA Amer Indl RenaisTM ETF3,263,266 shares · 2.15% · Reported 2026-08-31
Fidelity OTC3,253,900 shares · 2.14% · Reported 2026-07-31
Fundsmith LLP2,856,092 shares · 1.88% · Reported 2026-06-30

Earnings, Profitability & Valuation

Earnings & Revenue

AI Review

The company's financial performance shows a business with outstanding earnings quality but facing some short-term growth bumps. On the positive side, annual revenues have grown significantly, and the company is highly successful at converting its profits into actual cash, generating over five hundred million dollars in free cash flow. However, recent quarterly revenue showed a slight decline, highlighting that while the company has a massive five-billion-dollar order backlog, actually executing these projects is taking longer due to high interest rates and supply chain issues. Analysts agree that the underlying cash-generating power of the business is incredibly strong and provides a solid safety net. The main point of disagreement is whether the current slowdown is just a temporary blip or a sign of a longer-term cooling off in demand, but the overall financial health remains highly supportive for long-term investors.

Revenue, Net Income, and Free Cash Flow

Revenue
Free cash flow
Net income

Annual reported financial results, converted using the statement's recorded USD conversion. Missing values are omitted. Values in USD.

Valuation

Historical P/E Ratio

Published P/E

Published valuation snapshots. Trailing four-quarter earnings where available; annual earnings otherwise. Non-positive earnings are omitted. Values in times earnings.

Profitability & Margins

AI Review

The company's profitability has reached impressive heights, with gross margins climbing above thirty percent. This margin expansion is driven by the growing sales of its high-margin yield-optimization software, which helps solar panels capture more energy. However, there is a sharp divergence of opinion regarding whether these high margins are sustainable. Some analysts warn that current profitability is artificially inflated by government tax credits and cheap past purchases, predicting margins will soon shrink back toward the mid-twenties as raw material and shipping costs rise. Others argue that the software-driven margin gains are permanent and will continue to expand as the company integrates battery storage systems. While the current valuation looks expensive if margins shrink, the business possesses undeniable pricing power due to the high value its software provides to solar developers.

Profitability Margins

Gross margin
Operating margin
Net margin
Free cash flow margin

Annual gross, operating, net income and free cash flow divided by revenue for matching reporting dates. Values in percent.

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Reported Data Tables — chart preview

The following tables contain the same values as the financial charts above. Monetary values are USD; margins are percentages. Missing inputs are not estimated. Use is subject to the iPulse AI Terms of Service and applicable source rights.

Source: eodhd. Statement snapshots with chart transformations and ratios calculated by iPulse AI. Snapshot retrieved 2026-09-15.

Annual earnings and profitability
Period end	Revenue	Free cash flow	Net income	Gross margin	Operating margin	Net margin	Free cash flow margin
2019-03-31	660,741,000	-18,440,000	-1,590,000	8.56	0.18	-0.24	-2.79
2020-03-31	1,171,287,000	239,344,000	118,256,000	18.18	12.71	10.1	20.43
2021-03-31	1,195,617,000	91,310,000	124,348,000	19.4	13.26	10.4	7.64
2022-03-31	1,457,592,000	-153,030,000	50,913,000	10.09	4.52	3.49	-10.5
2023-03-31	1,902,137,000	104,486,000	118,887,000	15.09	8.86	6.25	5.49
2024-03-31	2,499,841,000	422,313,000	306,241,000	27.67	23.49	12.25	16.89
2025-03-31	2,959,197,000	621,873,000	509,168,000	33.73	21.6	17.21	21.01
2026-03-31	3,559,390,000	511,641,000	585,883,000	32.59	19.59	16.46	14.37

Published valuation snapshots
Period end	P/E (times earnings)	Earnings basis
2026-03-31	31.82	Trailing four quarters
2025-03-31	12.74	Trailing four quarters
2024-03-31	27.38	Trailing four quarters
2023-03-31	44.94	Annual net income

Shares outstanding — chart values
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	155,142,000

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Dividends & Actions
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