Nextracker Inc - Ordinary Shares - Class A

Nextracker Inc - Ordinary Shares - Class A

NXT

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Market Cap$23.5B
Close$

Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Nextracker Inc - Ordinary Shares - Class ANextracker Inc - Ordinary Shares - Class A39.6-25%6.50.1

Earnings Call Q4 2026

May 12, 2026 - AI Summary

Strong FY26 performance + record momentum (good / surprising) - FY26 revenue up ~20% to ~$3.56B; Q4 revenue $881M (-3% sequential) but above expectations. - Record backlog > $5.25B and one of the strongest booking quarters in company history (bookings supported by “flight to quality”). - Operating strength: Q4 Adjusted EBITDA $202M (23% margin); FY26 Adjusted EBITDA $854M (well above plan). - Cash: Adjusted free cash flow $154M in Q4 and $514M FY26; ~$1.1B cash, no debt, and achieved an investment-grade credit rating.
FY27 guidance raised and sets growth expectations (forecast / what matters) - Management increased FY27 targets (from Capital Markets Day ~6 months ago): - Revenue: $3.8B–$4.1B - Adjusted EBITDA: $825M–$900M - Mix: US high-70% / rest-of-world low-20%. - Non-tracker growth >40%; non-tracker revenue targeted to be ~15% of total revenue by FY27. - Q1 expectation: low single-digit sequential revenue growth. - Profitability: gross margins low 30s (but tempered by elevated freight/logistics, especially Middle East disruptions). - OpEx: 10.5%–11.5% of revenue near term due to platform expansion investments. - Cash flow/capex: Capex $75M–$100M; Adj. free cash flow $450M–$500M.
Platform traction: “everything but the panel” expanding beyond trackers (opportunity / positive) - Clear evidence of adoption: customers increasingly buying bundled/integrated solutions (trackers + foundations/frames + eBOS, etc.). - Key commercial highlights: - Tracker Plus Foundation ramp: multi-gigawatt deployments; annualized bookings run rate > $100M. - eBOS acceleration (following Bentek acquisition): record bookings in Q4, >40% YoY bookings growth for the business. - NX PowerMerge eBOS (initial PO indications for trunk bus + combiner box eBOS), enabling broader utility-scale coverage. - Product durability proof points: exceeded 50 GW cumulative for terrain-following tracker (XTR) and 30+ GW for Hail Pro; Hail Pro logged 4.61K hailstorms, 57 events up to 3-inch hail, with 99.99% module survival. - Pricing dynamic: modest ASP gain YoY driven by higher non-tracker attach rate; tracker pricing continues aligning with cost-reduction curve (healthy demand backdrop).

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$147.26

Target Price by Analysts

2% downsideNextracker Target Price DetailsTarget Price
$170.53

Current Fair Value

13.4% upside

Undervalued by 13.4% based on the discounted cash flow analysis.

Share Statistics

Market cap$23.50 Billion
Enterprise Value$22.72 Billion
Dividend Yield$- (-)
Earnings per Share$3.96
Beta1.6
Outstanding Shares148,496,000

Return

Return on Equity25.10%ROE
Return on Assets14.38%
Return on Invested Capital24.20%

Valuation & Multiples

P/E Ratio39.64P/E Ratio
PEG-1003.94PEG
Price to Sales6.54Price to Sales
Price to Book Ratio10.02Price to Book Ratio
Enterprise Value to Revenue6.38
Enterprise Value to EBIT32.26
Enterprise Value to Net Income38
Total Debt to Enterprise0.01
Debt to Equity0.13Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
May 20, 2026
EPS Estimate
$0.92
Average shareholder expectation
Revenue Estimate
$830.58 M
Average shareholder expectation

Next Earnings Call

Expected Date
August 4, 2026
EPS Estimate
$1.06
Average shareholder expectation
Revenue Estimate
$924.48 M
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio1.6812 35.83%
Total Calls1,309,100 77.02%
Total Puts2,200,800 70.80%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %105.24% 4.53%
Total Invested$18.73B 43.91%
Investors Holding728 77.00%

ESG Score

No data

About Nextracker Inc