The company has successfully deleveraged to a debt-free status as of 2026Q4, down from a $169.0M debt load in 2024Q4, while building a $1.1B cash reserve.
| Total Current Assets | 2.85B | 2.16B | 1.77B | 872.26M | 708.76M | 583.25M | 302.8M | 232.83M |
| Cash & Short-Term Investments | 1.09B | 766.1M | 474.05M | 130.01M | 29.07M | 190.59M | 2.95M | 14.37M |
| Cash Only | 1.09B | 766.1M | 474.05M | 130.01M | 29.07M | 190.59M | 2.95M | 14.37M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 417.04M | 1.09B | 905.21M | 569.12M | 460.71M | 268.21M | 222.82M | 187.84M |
| Days Sales Outstanding | 42.77 | 134.93 | 132.17 | 109.21 | 115.37 | 81.88 | 69.43 | 103.76 |
| Inventory | 262.28M | 259.63M | 306.44M | 167.36M | 181.51M | 111.87M | 73.19M | 27.55M |
| Days Inventory Outstanding | 39.9 | 48.32 | 61.86 | 37.82 | 50.55 | 42.37 | 27.87 | 16.64 |
| Other Current Assets | 1.07B | 38.28M | 82.53M | 5.78M | 37.47M | 12.58M | 3.85M | 3.08M |
| Total Non-Current Assets | 1.23B | 1.03B | 750.55M | 547.41M | 308.53M | 297.72M | 316.36M | 324.61M |
| Property, Plant & Equipment | 78.36M | 93.19M | 26.63M | 10.59M | 11.78M | 5.03M | 3.94M | 5.35M |
| Fixed Asset Turnover | 45.43x | 31.75x | 93.89x | 179.58x | 123.71x | 237.60x | 297.51x | 123.57x |
| Goodwill | 488.95M | 371.02M | 265.15M | 265.15M | 265.15M | 265.15M | 265.15M | 265.15M |
| Intangible Assets | 78.05M | 53.24M | 1.55M | 1.32M | 2.53M | 10.99M | 25.51M | 40.39M |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 69.49M | 18.3M | 18.92M | 13.25M | 29.06M | 16.54M | 21.76M | 13.72M |
| Total Assets | 4.07B | 3.19B | 2.52B | 1.42B | 1.02B | 880.97M | 619.16M | 557.44M |
| Asset Turnover | 0.87x | 0.93x | 0.99x | 1.34x | 1.43x | 1.36x | 1.89x | 1.19x |
| Asset Growth % | 27.59% | 26.75% | 77.42% | 39.56% | 15.47% | 42.28% | 11.07% | - |
| Total Current Liabilities | 1.16B | 1.03B | 891.49M | 507.43M | 473.37M | 391.35M | 362.86M | 179.49M |
| Accounts Payable | 533.49M | 585.3M | 456.64M | 223.59M | 305.91M | 231.46M | 175.47M | 105.5M |
| Days Payables Outstanding | 81.16 | 108.94 | 92.18 | 50.53 | 85.2 | 87.67 | 66.83 | 63.73 |
| Short-Term Debt | 0 | 8.5M | 7.6M | 1.9M | 1.8M | 1.5M | 1.4M | 0 |
| Deferred Revenue (Current) | 307.49M | 247.13M | 225.54M | 176.47M | 77.87M | 77.38M | 85.53M | 14.35M |
| Other Current Liabilities | 322.88M | 138.49M | 162.51M | 90.26M | 82.3M | 72.71M | 94.06M | 56.54M |
| Current Ratio | 2.45x | 2.09x | 1.98x | 1.72x | 1.50x | 1.49x | 0.83x | 1.30x |
| Quick Ratio | 2.22x | 1.84x | 1.64x | 1.39x | 1.11x | 1.20x | 0.63x | 1.14x |
| Cash Conversion Cycle | 1.51 | 74.32 | 101.85 | 96.5 | 80.72 | 36.58 | 30.48 | 56.67 |
| Total Non-Current Liabilities | 574.95M | 530.87M | 635.27M | 427.39M | 42.78M | 33.57M | 25.24M | 18.61M |
| Long-Term Debt | 0 | 0 | 143.97M | 147.15M | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 25.61M | 17.46M | 1.5M | 2.7M | 3M | 4M | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 574.95M | 408.63M | 404.54M | 242.95M | 10.48M | 15.77M | 21.24M | 18.61M |
| Total Liabilities | 1.74B | 1.56B | 1.53B | 934.82M | 516.16M | 424.92M | 388.1M | 198.1M |
| Total Debt | 0 | 34.11M | 169.02M | 150.55M | 4.5M | 4.5M | 5.4M | 0 |
| Net Debt | -1.09B | -731.99M | -305.03M | 20.54M | -24.57M | -186.09M | 2.45M | -14.37M |
| Debt / Equity | - | 0.02x | 0.17x | 0.31x | 0.01x | 0.01x | 0.02x | - |
| Debt / EBITDA | - | 0.05x | 0.29x | 0.87x | 0.06x | 0.03x | 0.03x | - |
| Net Debt / EBITDA | -1.50x | -1.12x | -0.52x | 0.12x | -0.32x | -1.06x | 0.01x | -0.73x |
| Interest Coverage | 265.83x | 48.80x | 42.48x | 92.70x | 2319.12x | 315.80x | - | - |
| Total Equity | 2.33B | 1.63B | 992.03M | 484.86M | 501.13M | 456.05M | 231.06M | 359.34M |
| Equity Growth % | 43.38% | 64.12% | 104.6% | -3.25% | 9.89% | 97.37% | -35.7% | - |
| Book Value per Share | 15.29 | 10.91 | 6.74 | 3.32 | 10.93 | 11.83 | 6.00 | 9.32 |
| Total Shareholders' Equity | 2.33B | 1.63B | 961.01M | -3.08B | 501.13M | 456.05M | 231.06M | 359.34M |
| Common Stock | 0 | 15K | 14K | 15K | 0 | 0 | 0 | 0 |
| Retained Earnings | 0 | -2.56B | -3.07B | -3.08B | -3.04M | 456.05M | 231.06M | 359.34M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | -298K | 17K | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 31.02M | 3.56B | 0 | 0 | 0 | 0 |
Project-based revenue lumpiness
According to recent SEC filings, Nextpower has significantly bolstered its financial position, with total assets expanding from $2.1B in 2024Q3 to $4.1B by 2026Q4, primarily driven by a disciplined accumulation of cash reserves and a strategic reduction in total debt obligations over the same period.
The trajectory of the balance sheet suggests a transition toward a fortress-like state, characterized by the elimination of debt and a substantial increase in liquidity. This trend implies that the company is prioritizing financial flexibility to navigate the inherent cyclicality of utility-scale solar deployments.
As reported in financial statements, Nextpower has successfully transitioned to a debt-free status as of 2026Q4, down from a peak debt load of $169.0M in 2024Q4, which significantly reduces interest expense volatility and strengthens the company's ability to weather potential downturns in the utility-scale solar market.
The complete repayment of debt suggests a conservative capital allocation strategy that minimizes refinancing risk in a high-interest-rate environment. Investors should monitor whether this debt-free status is maintained as the company pursues future growth opportunities or if it signals a lack of immediate capital-intensive expansion plans.
Based on reported figures, Nextpower maintains a strong liquidity profile with cash reserves reaching $1.1B in 2026Q4, providing a current ratio of 2.45 that offers a substantial buffer against the operational shocks often associated with the lumpy, project-based nature of the utility-scale solar industry.
The consistent growth in cash, up from $367.8M in 2024Q3, indicates that the company is effectively converting its project-based revenue into liquid assets. This liquidity position appears sufficient to fund ongoing working capital requirements and potential R&D initiatives without the need for external financing.
As indicated by the provided financial data, Nextpower’s net PPE remains remarkably low at $78.4M relative to $4.1B in total assets, confirming the company's successful execution of an asset-light manufacturing strategy that avoids heavy capital investment in proprietary fabrication facilities and maintains high operational flexibility.
The minimal investment in fixed assets suggests that the company's competitive advantage is derived from its intellectual property and software-driven yield optimization rather than physical infrastructure. This structure allows for higher scalability, though it warrants monitoring for potential reliance on third-party manufacturing partners.
Based on the provided balance sheet, goodwill has steadily increased to $488.9M in 2026Q4 from $265.2M in 2024Q3, which may indicate that future earnings could be susceptible to impairment charges if the acquired businesses fail to meet the growth expectations initially factored into their purchase prices.
While the current balance sheet appears healthy, the rising goodwill balance suggests that inorganic growth has become a more significant component of the company's strategy. Investors should monitor the performance of these acquisitions to ensure that the carrying value of these intangible assets remains justified by future cash flows.
Quick answers to the most common questions about buying NXT stock.
As of 2026, Nextpower Inc. (NXT) had total assets of $4.07B including $2.85B in current assets.
Nextpower Inc. (NXT) carries total debt of $0.0M, offset by $1.09B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Nextpower Inc. (NXT) has total shareholders' equity (book value) of $2.33B ($15.29 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Nextpower Inc. (NXT) reported a current ratio of 2.45x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.