Latest Ratios: P/E Ratio 26.4x · EV/EBITDA 19.3x · ROE 29.6%. (2019–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $15.9B | $18.4B | $6.3B | $8.3B | $5.3B | — | — | — | — |
| Enterprise Value | $14.9B | $17.4B | $5.6B | $8.0B | $5.3B | — | — | — | — |
| P/E Ratio → | 26.36 | 31.39 | 12.14 | 16.70 | 4648.72 | — | — | — | — |
| P/S Ratio | 4.15 | 5.17 | 2.13 | 3.32 | 2.78 | — | — | — | — |
| P/B Ratio | 6.86 | 7.89 | 3.86 | 8.35 | 10.91 | — | — | — | — |
| P/FCF | 30.94 | 35.98 | 10.12 | 19.62 | 50.62 | — | — | — | — |
| P/OCF | 28.59 | 33.08 | 9.59 | 19.32 | 49.12 | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.88 | 1.88 | 3.19 | 2.79 | — | — | — | — |
| EV / EBITDA | 19.32 | 23.86 | 8.52 | 13.50 | 30.67 | — | — | — | — |
| EV / EBIT | 21.32 | 24.24 | 8.41 | 12.84 | 31.24 | — | — | — | — |
| EV / FCF | — | 33.94 | 8.94 | 18.90 | 50.81 | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 32.6% | 32.6% | 33.7% | 27.7% | 15.1% | 10.1% | 19.4% | 18.2% | 8.6% |
| Operating Margin | 19.6% | 19.6% | 21.6% | 23.5% | 8.9% | 4.5% | 13.3% | 12.7% | 0.2% |
| Net Profit Margin | 16.5% | 16.5% | 17.2% | 12.3% | 6.3% | 3.5% | 10.4% | 10.1% | -0.2% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | 29.6% | 29.6% | 38.9% | 41.5% | 24.1% | 10.6% | 36.2% | 40.1% | -0.4% |
| ROA | 16.1% | 16.1% | 17.8% | 15.6% | 9.8% | 5.4% | 16.6% | 20.1% | -0.3% |
| ROIC | 47.8% | 47.8% | 60.6% | 73.9% | 25.7% | 13.2% | 47.2% | 38.6% | 0.3% |
| ROCE | 27.5% | 27.5% | 33.8% | 46.2% | 23.1% | 12.8% | 42.5% | 47.0% | 0.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.02 | 0.02 | 0.02 | 0.17 | 0.31 | 0.01 | 0.01 | 0.02 | — |
| Debt / EBITDA | 0.07 | 0.07 | 0.05 | 0.29 | 0.87 | 0.06 | 0.03 | 0.03 | — |
| Net Debt / Equity | — | -0.45 | -0.45 | -0.31 | 0.04 | -0.05 | -0.41 | 0.01 | -0.04 |
| Net Debt / EBITDA | -1.43 | -1.43 | -1.12 | -0.52 | 0.12 | -0.32 | -1.06 | 0.01 | -0.73 |
| Debt / FCF | — | -2.04 | -1.18 | -0.72 | 0.20 | — | -2.04 | 0.01 | — |
| Interest Coverage | 273.14 | 273.14 | 50.48 | 44.99 | 92.70 | 2319.12 | 315.80 | — | — |
Net cash position: cash ($1.1B) exceeds total debt ($53M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.45 | 2.45 | 2.09 | 1.98 | 1.72 | 1.50 | 1.49 | 0.83 | 1.30 |
| Quick Ratio | 2.18 | 2.18 | 1.84 | 1.64 | 1.39 | 1.11 | 1.20 | 0.63 | 1.14 |
| Cash Ratio | 0.94 | 0.94 | 0.74 | 0.53 | 0.26 | 0.06 | 0.49 | 0.01 | 0.08 |
| Asset Turnover | — | 0.87 | 0.93 | 0.99 | 1.34 | 1.43 | 1.36 | 1.89 | 1.19 |
| Inventory Turnover | 7.65 | 7.65 | 7.55 | 5.90 | 9.65 | 7.22 | 8.61 | 13.10 | 21.93 |
| Days Sales Outstanding | — | 133.61 | 134.93 | 132.17 | 109.21 | 115.37 | 81.88 | 69.43 | 103.76 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | 266.5% | — | — |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.8% | 3.2% | 8.2% | 6.0% | 0.0% | — | — | — | — |
| FCF Yield | 3.2% | 2.8% | 9.9% | 5.1% | 2.0% | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 6.7% | 13.1% | — | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 6.7% | 13.1% | — | — | — | — |
| Shares Outstanding | — | $153M | $149M | $147M | $146M | $46M | $39M | $39M | $39M |
Includes 30+ ratios · 8 years · Updated daily
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Quick answers to the most common questions about buying NXT stock.
Nextpower Inc.'s current P/E ratio is 26.4x. The historical average is 20.1x. This places it at the 67th percentile of its historical range.
Nextpower Inc.'s current EV/EBITDA is 19.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 19.1x.
Nextpower Inc.'s return on equity (ROE) is 29.6%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 27.6%.
Based on historical data, Nextpower Inc. is trading at a P/E of 26.4x. This is at the 67th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Nextpower Inc. has 32.6% gross margin and 19.6% operating margin. Operating margin between 10-20% is typical for established companies.
Nextpower Inc.'s Debt/EBITDA ratio is 0.1x, indicating low leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Policy and subsidy dependence
Metrics are mathematically derived from official filings.
Premium Multiples Priced for Continued Beats
NXT trades at a trailing P/E of 27.32 and forward P/E of 21.99 with EV/EBITDA of 20.43, against ARRY at 11.76 EV/EBITDA, suggesting the market is pricing sustained execution well above the peer median.
The gap between trailing and forward P/E implies consensus expects meaningful earnings growth over the next year, which is consistent with the reported backlog above $6 billion. However, the PEG of 7.76 is elevated and suggests the growth premium may already be reflected in the share price. Investors should monitor whether operating margin holds near the reported 18.7%, since any slippage would compress the multiple from a high base.
Operating Margin Fading Despite Revenue Growth
Based on reported quarterly figures, operating margin declined from 22.4% in 2025Q1 to 18.7% in 2027Q2 while revenue grew, and gross margin stayed within a 31.1% to 35.9% band, indicating operating costs are scaling faster than gross profit.
The compression in operating margin despite a stable gross margin band points to rising overhead or software-related operating expense rather than input cost pressure. This suggests the asset-light model is not yet delivering operating leverage as revenue scales. Net margin of 14.9% in the latest quarter versus 18.2% a year earlier reinforces that earnings power per dollar of sales has softened.
ROIC Peaked Then Retreated From Highs
As reported in the ratio data, ROIC climbed from 11.9% in 2025Q2 to a peak of 16.5% in 2025Q4 before easing to 10.4% in 2027Q2, indicating returns on invested capital are not compounding consistently.
The trajectory suggests the capital base, which grew with goodwill from $328.4M to $653.6M, is expanding faster than the profit it generates. ROE of 6.4% in the latest quarter versus 11.4% a year earlier aligns with this dilution of returns. Whether this reflects acquisition-driven capital dilution or temporary margin pressure warrants further investigation, as the two imply very different recovery paths.
Negligible Leverage Limits Refinancing Risk
Based on EDBL-style reported figures, debt-to-equity sits near 0.02 in the latest period and interest coverage is very high, indicating debt service is not a material constraint on the business.
With total debt reportedly falling from $146.9M to $44.5M over the period, the balance sheet appears to carry little refinancing exposure. The sharp swing in interest coverage, from 43x to above 600x, mostly reflects the shrinking debt base rather than operating improvement. Investors should monitor whether any future acquisition funding reintroduces leverage, as the current profile would then be tested against a much smaller earnings cushion.
Cash Buffer May Overstate Distributable Capacity
Based on reported figures, the headline cash balance of roughly $1.0B may be flattered by customer prepayments within deferred revenue of $514.6M, which may not be fully available for shareholder distributions.
Ratio strength, including a current ratio of 2.23 and quick ratio of 2.03, may partly reflect advance billings rather than free liquidity generated by operations. Working capital swings and acquisition outflows of $162.1M and $132.5M in recent quarters suggest cash balances are sensitive to timing. Investors should monitor how deferred revenue converts into recognized revenue before treating the reported liquidity as fully distributable.