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6Apr 15, 2026·SEC
Nov 18, 2025·SEC
Oct 16, 2025·SEC
NextDecade Corporation (NEXT) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
NextDecade Corporation (NEXT) stock price & volume — 10-year historical chart
NextDecade Corporation (NEXT) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
NextDecade Corporation (NEXT) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Mar 2, 2026 | $0.18vs $0.68+73.5% | — |
| Q1 2026 | Feb 27, 2026 | $0.88vs $0.68-29.4% | — |
| Q4 2025 | Oct 30, 2025 | $0.42vs $0.32-31.3% | — |
| Q3 2025 | Jul 31, 2025 | $0.23vs $0.23+0.0% | — |
NextDecade Corporation (NEXT) competitors in Energy transition and low carbon fuels — business model, growth, and fundamentals comparison
NextDecade Corporation (NEXT) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
NextDecade Corporation (NEXT) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | - | - | - | - | - | - | - | - | - |
| Cost of Goods Sold | 1.09M | 1.27M | 1.33M | 2.79M | 2.15M | 1.27M | 3.15M | 6.68M | 12.12M |
| COGS % of Revenue | - | - | - | - | - | - | - | - | - |
| Gross Profit | -1.09M▲ 0% | -1.27M▼ 16.8% | -1.33M▼ 5.0% | -2.79M▼ 109.0% | -2.15M▲ 22.8% | -1.27M▲ 40.9% | -3.15M▼ 147.5% | -6.68M▼ 112.1% | -12.12M▼ 81.6% |
| Gross Margin % | - | - | - | - | - | - | - | - | - |
| Gross Profit Growth % | -987% | -16.84% | -4.96% | -109% | 22.79% | 40.86% | -147.48% | -112.07% | -81.58% |
| Operating Expenses | 34.55M | 43.02M | 33.67M | 19.23M | 17.36M | 53.2M | 119.52M | 164.4M | 213.81M |
| OpEx % of Revenue | - | - | - | - | - | - | - | - | - |
| Selling, General & Admin | 34.55M | 35.18M | 33.67M | 19.23M | 17.36M | 49.1M | 114.63M | 150.11M | 202.28M |
| SG&A % of Revenue | - | - | - | - | - | - | - | - | - |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 4.1M | 4.89M | 8.26M | 8.01M |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 1.27M | 0 | 0 | 0 | 0 | 0 | 6.03M | 3.52M |
| Operating Income | -35.64M▲ 0% | -43.02M▼ 20.7% | -35M▲ 18.6% | -22.01M▲ 37.1% | -19.51M▲ 11.4% | -54.48M▼ 179.3% | -122.67M▼ 125.2% | -171.07M▼ 39.5% | -225.93M▼ 32.1% |
| Operating Margin % | - | - | - | - | - | - | - | - | - |
| Operating Income Growth % | -5064.93% | -20.7% | 18.63% | 37.11% | 11.38% | -179.26% | -125.18% | -39.46% | -32.07% |
| EBITDA | -35.53M | -42.84M | -33.67M | -19.23M | -17.36M | -53.2M | -119.52M | -164.4M | -213.81M |
| EBITDA Margin % | - | - | - | - | - | - | - | - | - |
| EBITDA Growth % | -5922.37% | -20.58% | 21.42% | 42.9% | 9.73% | -206.54% | -124.65% | -37.55% | -30.05% |
| D&A (Non-Cash Add-back) | 106K | 171K | 1.33M | 2.79M | 2.15M | 1.27M | 3.15M | 6.68M | 12.12M |
| EBIT | -35.36M | -41.96M | -35.87M | -14.33M | -22.04M | -60.07M | -171.35M | 364.99M | -225.93M |
| Net Interest Income | 0 | 0 | 1.72M | 243K | 2K | -5.75M | -84.66M | -87.54M | -170.01M |
| Interest Income | 343K | 1.02M | 1.72M | 243K | 2K | 0 | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 5.75M | 84.66M | 87.54M | 170.01M |
| Other Income/Expense | 312K | 1.05M | -870K | 7.68M | -2.53M | -5.6M | -98.97M | 448.52M | -203.71M |
| Pretax Income | -35.33M▲ 0% | -41.96M▼ 18.8% | -35.87M▲ 14.5% | -14.33M▲ 60.1% | -22.04M▼ 53.8% | -60.07M▼ 172.6% | -221.64M▼ 269.0% | 277.45M▲ 225.2% | -429.64M▼ 254.9% |
| Pretax Margin % | - | - | - | - | - | - | - | - | - |
| Income Tax | -343K | 36K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0.97% | -0.09% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -35.33M▲ 0% | -41.96M▼ 18.8% | -35.87M▲ 14.5% | -14.33M▲ 60.1% | -22.04M▼ 53.8% | -60.07M▼ 172.6% | -162.26M▼ 170.1% | -61.75M▲ 61.9% | -306.43M▼ 396.2% |
| Net Margin % | - | - | - | - | - | - | - | - | - |
| Net Income Growth % | -8020.92% | -18.78% | 14.51% | 60.05% | -53.81% | -172.57% | -170.12% | 61.94% | -396.24% |
| Net Income (Continuing) | -35.33M | -41.96M | -35.87M | -14.33M | -22.04M | -60.07M | -221.64M | 277.45M | -429.64M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 452.51M | 1.37B | 2.21B |
| EPS (Diluted) | -0.35▲ 0% | -0.39▼ 11.4% | -0.45▼ 15.4% | -0.24▲ 46.7% | -0.34▼ 41.7% | -0.65▼ 91.2% | -0.94▼ 44.6% | -0.24▲ 74.5% | -1.17▼ 387.5% |
| EPS Growth % | -262.32% | -11.43% | -15.38% | 46.67% | -41.67% | -91.18% | -44.62% | 74.47% | -387.5% |
| EPS (Basic) | -0.35 | -0.39 | -0.45 | -0.24 | -0.34 | -0.65 | -0.94 | -0.24 | -1.17 |
| Diluted Shares Outstanding | 100.93M | 106.56M | 109.06M | 117.52M | 119.2M | 130.14M | 194.59M | 258.54M | 262.16M |
| Basic Shares Outstanding | 100.93M | 106.56M | 109.06M | 117.52M | 119.2M | 130.14M | 194.59M | 258.54M | 262.16M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
NextDecade Corporation (NEXT) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 42.87M | 76.93M | 78.8M | 23.28M | 26.39M | 63.94M | 314.52M | 412.57M | 718.05M |
| Cash & Short-Term Investments | 40.77M | 75.62M | 77.94M | 22.61M | 25.55M | 62.79M | 38.24M | 148.14M | 143.78M |
| Cash Only | 35.7M | 3.17M | 15.74M | 22.61M | 25.55M | 62.79M | 38.24M | 148.14M | 143.78M |
| Short-Term Investments | 5.06M | 72.45M | 62.21M | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Sales Outstanding | - | - | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 1.84M | 835K | 381K | 267K | 314K | 107K | 274.19M | 264.44M | 574.27M |
| Total Non-Current Assets | 73.23M | 92.07M | 142.39M | 178.39M | 195.72M | 248.49M | 3.01B | 5.99B | 11.71B |
| Property, Plant & Equipment | 73.23M | 92.07M | 135.65M | 162.09M | 174.41M | 220.12M | 2.62B | 5.19B | 10.73B |
| Fixed Asset Turnover | - | - | - | - | - | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 3.17M | 1.8M | 354K | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 472.06M | 532.25M |
| Other Non-Current Assets | 0 | 0 | 3.58M | 14.49M | 20.96M | 28.37M | 393.18M | 333.35M | 444.73M |
| Total Assets | 116.09M▲ 0% | 169M▲ 45.6% | 221.19M▲ 30.9% | 201.67M▼ 8.8% | 222.1M▲ 10.1% | 312.43M▲ 40.7% | 3.32B▲ 963.9% | 6.4B▲ 92.7% | 12.43B▲ 94.0% |
| Asset Turnover | - | - | - | - | - | - | - | - | - |
| Asset Growth % | -1.24% | 45.58% | 30.88% | -8.83% | 10.13% | 40.67% | 963.85% | 92.67% | 94.03% |
| Total Current Liabilities | 8.4M | 12.09M | 21.54M | 5.14M | 8.23M | 25.36M | 552.39M | 595.08M | 1.34B |
| Accounts Payable | 726K | 719K | 11.91M | 207K | 281K | 1.08M | 243.13M | 244.64M | 443.95M |
| Days Payables Outstanding | 243.78 | 206.64 | 3.26K | 27.12 | 47.68 | 311.05 | 28.19K | 13.38K | 13.37K |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.88M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 3.32M | 2.01M | 2.5M | 3.94M | 2.3M | 12.05M | 275.67M | 13.43M | 888.2M |
| Current Ratio | 5.10x | 6.36x | 3.66x | 4.53x | 3.21x | 2.52x | 0.57x | 0.69x | 0.54x |
| Quick Ratio | 5.10x | 6.36x | 3.66x | 4.53x | 3.21x | 2.52x | 0.57x | 0.69x | 0.54x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 4.6M | 7.44M | 12.04M | 23.79M | 25.59M | 30.25M | 2.03B | 4.06B | 8.79B |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 1.82B | 3.92B | 8.51B |
| Capital Lease Obligations | 0 | 0 | 3K | 0 | 0 | 465K | 145.96M | 144.16M | 142.27M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 4.6M | 7.44M | 12.03M | 23.79M | 25.59M | 29.79M | 68.72M | 0 | 135.52M |
| Total Liabilities | 13M | 19.53M | 33.58M | 28.93M | 33.81M | 55.62M | 2.58B | 4.66B | 10.12B |
| Total Debt | 0 | 0 | 701K | 432K | 596K | 1.56M | 1.97B | 4.07B | 8.66B |
| Net Debt | -35.7M | -3.17M | -15.04M | -22.18M | -24.96M | -61.23M | 1.93B | 3.92B | 8.51B |
| Debt / Equity | - | - | 0.00x | 0.00x | 0.00x | 0.01x | 2.65x | 2.33x | 3.76x |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | - | - | - | - | - | - | - | - | - |
| Interest Coverage | - | - | - | - | - | -10.45x | -2.02x | 4.17x | -1.33x |
| Total Equity | 103.09M▲ 0% | 149.47M▲ 45.0% | 187.62M▲ 25.5% | 172.74M▼ 7.9% | 188.29M▲ 9.0% | 256.81M▲ 36.4% | 740.43M▲ 188.3% | 1.74B▲ 135.6% | 2.3B▲ 31.9% |
| Equity Growth % | -8.8% | 44.99% | 25.52% | -7.93% | 9.01% | 36.39% | 188.32% | 135.59% | 31.91% |
| Book Value per Share | 1.02 | 1.40 | 1.72 | 1.47 | 1.58 | 1.97 | 3.81 | 6.75 | 8.78 |
| Total Shareholders' Equity | 103.09M | 149.47M | 187.62M | 172.74M | 188.29M | 256.81M | 287.92M | 377.64M | 95.34M |
| Common Stock | 11K | 11K | 12K | 12K | 12K | 14K | 26K | 26K | 26K |
| Retained Earnings | -55.62M | -97.62M | -133.7M | -148.03M | -170.07M | -230.14M | -391.77M | -453.52M | -759.96M |
| Treasury Stock | 0 | -35K | -685K | -1.03M | -1.31M | -4.59M | -14.21M | -20.92M | -37.86M |
| Accumulated OCI | -40K | -66.25M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 452.51M | 1.37B | 2.21B |
NextDecade Corporation (NEXT) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | -12.83M | -23.29M | -40.7M | -26.25M | -17.96M | -40.08M | -73.62M | -95.58M | -169.4M |
| Operating CF Margin % | - | - | - | - | - | - | - | - | - |
| Operating CF Growth % | -2555.53% | -81.49% | -74.79% | 35.5% | 31.59% | -123.14% | -83.7% | -29.84% | -77.22% |
| Net Income | -35.33M | -41.96M | -35.87M | -14.33M | -22.04M | -60.07M | -221.64M | 277.45M | -429.64M |
| Depreciation & Amortization | 106K | 171K | 1.21M | 1.43M | 735K | 918K | 3.15M | 6.68M | 1.78M |
| Stock-Based Compensation | 22.69M | 16.84M | -9.65M | -341K | -4.31M | 7.47M | 26.55M | 19.91M | 39.21M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 22.91M | -50K | 2.55M | -6.09M | 3.95M | 6.1M | 122.46M | -419.73M | 182.42M |
| Working Capital Changes | -303K | 1.71M | 1.06M | -6.92M | 3.71M | 5.5M | -4.14M | 20.12M | 36.82M |
| Change in Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | -137K | 124K | 207K | -370K | -26K | 684K | 4.06M | -2.22M | 0 |
| Cash from Investing | 11.86M | -86.16M | -16.69M | 18.52M | -18.53M | -40.89M | -1.75B | -2.57B | -4.85B |
| Capital Expenditures | -14.83M | -18.66M | -20.3M | -32.35M | -12.11M | -33.75M | -1.74B | -2.57B | 0 |
| CapEx % of Revenue | - | - | - | - | - | - | - | - | - |
| Acquisitions | 26.77M | 18.66M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - |
| Other Investing | 26.77M | -18.66M | -6.88M | -10.91M | -6.43M | -7.13M | -15.16M | -6.4M | -4.85B |
| Cash from Financing | 50.92K | 76.91K | 69.96M | 14.6M | 39.44M | 118.2M | 2.06B | 2.77B | 5.34B |
| Debt Issued (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 1.85B | 2.19B | 4.69B |
| Equity Issued (Net) | 24.15M | 76.92M | 70.94M | 0 | 40.06M | 125.5M | 254.4M | -6.7M | -16.95M |
| Dividends Paid | 0 | -4 | -42K | -50K | -67K | -75K | -53K | 0 | 0 |
| Share Repurchases | 0 | -35K | 0 | 0 | 0 | 0 | 0 | -6.7M | -16.95M |
| Other Financing | 0 | 0 | -943K | 14.65M | -552K | -7.22M | -46.24M | 589.78M | 668.18M |
| Net Change in Cash | 23.18M▲ 0% | -32.53M▼ 240.4% | 12.57M▲ 138.6% | 6.87M▼ 45.3% | 2.94M▼ 57.2% | 37.24M▲ 1164.8% | 231.69M▲ 522.2% | 98.28M▼ 57.6% | 314.33M▲ 219.8% |
| Free Cash Flow | -27.66M▲ 0% | -41.94M▼ 51.6% | -61M▼ 45.4% | -58.6M▲ 3.9% | -30.07M▲ 48.7% | -73.83M▼ 145.6% | -1.81B▼ 2353.3% | -2.66B▼ 47.0% | -5.02B▼ 88.3% |
| FCF Margin % | - | - | - | - | - | - | - | - | - |
| FCF Growth % | -39.18% | -51.62% | -45.44% | 3.93% | 48.7% | -145.56% | -2353.31% | -47.05% | -88.34% |
| FCF per Share | -0.27 | -0.39 | -0.56 | -0.50 | -0.25 | -0.57 | -9.31 | -10.30 | -19.13 |
| FCF Conversion (FCF/Net Income) | 0.36x | 0.55x | 1.13x | 1.83x | 0.81x | 0.67x | 0.45x | 1.55x | 0.55x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 23.36M | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
NextDecade Corporation (NEXT) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | -0.38% | -32.69% | -33.23% | -21.28% | -7.95% | -12.21% | -26.99% | -32.54% | -4.97% | -15.15% |
| Return on Invested Capital (ROIC) | -0.46% | -29.62% | -30.19% | -16.46% | -10.22% | -9.32% | -22.77% | -6.43% | -3.08% | -2.06% |
| Debt / Equity | 0.00x | - | - | 0.00x | 0.00x | 0.00x | 0.01x | 2.65x | 2.33x | 3.76x |
| Interest Coverage | - | - | - | - | - | - | -10.45x | -2.02x | 4.17x | -1.33x |
| FCF Conversion | 1.11x | 0.36x | 0.55x | 1.13x | 1.83x | 0.81x | 0.67x | 0.45x | 1.55x | 0.55x |
NextDecade Corporation (NEXT) SEC filings — annual & quarterly reports (10-K, 10-Q)
Apr 15, 2026·SEC
Nov 18, 2025·SEC
Oct 16, 2025·SEC
NextDecade Corporation (NEXT) stock FAQ — growth, dividends, profitability & financials explained
NextDecade Corporation (NEXT) grew revenue by 0.0% over the past year. Growth has been modest.
NextDecade Corporation (NEXT) reported a net loss of $306.4M for fiscal year 2025.
NextDecade Corporation (NEXT) has a return on equity (ROE) of -15.1%. Negative ROE indicates the company is unprofitable.
NextDecade Corporation (NEXT) had negative free cash flow of $5.30B in fiscal year 2025, likely due to heavy capital investments.
NextDecade Corporation (NEXT) financial analysis — history, returns, DCA and operating performance tools
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates