Start here if you're new
what it is
Nextpower sells solar gear and software that help big power plants keep panels pointed at the sun.
how it gets paid
Last year Nxt made $3.0B in revenue. NX Horizon trackers was the main engine at $2.10B, or 70% of sales.
why it's growing
Revenue grew 18.4% last year. The top line reaped the rewards of solid demand for solar trackers in both the united states and international markets.
what just happened
Latest results were loud: revenue hit $2.7B and EPS reached $2.86 as demand stayed strong.
At a glance
B++ balance sheet — above average — nothing keeping you up at night
27.2x trailing p/e — priced about right
45.5% return on capital — every dollar works hard here
xvary composite: 55/100 — below average
$4.90 fy2027 eps est
What they do
Nextpower sells solar gear and software that help big power plants keep panels pointed at the sun.
This business sells into utility-scale solar projects, where downtime is expensive and missed output costs real money. If your solar plant underperforms, you do not care about saving a little upfront. A 45.5% return on capital says customers keep paying for a system that works, and that kind of repeat trust is hard to fake.
How they make money
$3.0B
annual revenue · their business grew +18.4% last year
NX Horizon trackers
$2.10B
NX Gemini trackers
$0.45B
TrueCapture software
$0.18B
Power conversion systems
$0.15B
Services and other
$0.12B
The products that matter
solar tracking and plant technology
Utility-scale solar platform
$2.7B revenue · +51.4% growth
it's the only reported revenue line on this page, and it grew to $2.7B after a 51.4% jump from last year.
entire reported business
Key numbers
45.5%
return on capital
Return on capital → profit earned on money invested → so what: this business turns investment into earnings far better than most industrial companies.
$98
18-month target
That target sits $21.64 below the $119.64 stock price, which tells you expectations are rich even after strong execution.
$5B
2029 revenue est.
That estimate is about $2B above today's $3.0B annual revenue, so the bull case needs the company to become roughly 67% larger.
32.2%
gross margin
Gross margin → money left after direct costs → so what: this says the company still has pricing power even while selling physical equipment.
Financial health
B++
strength
- balance sheet grade B++ — above average financial health
- risk rank 3 — safer than 50% of stocks
- price stability 10 / 100
- net profit margin 19.3% — keeps 19 cents of every dollar in revenue
- return on equity 46% — $0.46 profit for every $1 investors have put in
B++ — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for NXT right now.
source: institutional data · return history unavailable
What just happened
beat estimates
Latest results were loud: revenue hit $2.7B and EPS reached $2.86 as demand stayed strong.
The last reported quarter also beat expectations, with actual EPS of $1.10 versus a $1.00 estimate, a 10.0% surprise. Gross margin was 32.2%, which matters because margin keeps the growth from being fake.
$2.7B
revenue
$2.86
eps
32.2%
gross margin
the number that mattered
The key number was 32.2% gross margin because it shows this is not just a revenue sprint. The company is still keeping a healthy cut of each dollar sold.
-
nextracker is now known as nextpower.in mid-november, the company rebranded itself and took on the new moniker, marking its transformation into a global supplier of fully integrated energy technology solutions. the new brand reflects nextracker’s evolution from a leader in solar tracking into a fullplatform company that delivers an integrated portfolio of technologies and services for utility-scale solar power plants.
-
a new line of utility-scale power conversion systems are slated for shipment this year.
-
meanwhile, the company seems poised for a string of record performances.
-
nextpower posted better-than-expected earnings of $1.10 a share in the fiscal third quarter (year ends march 31st), on a nearly 34% revenue advance.the top line reaped the rewards of solid demand for solar trackers in both the united states and international markets, as well as the recent introduction of new product solutions, including nx horizonxtr 1.5 all-terrain tracker, nx hail pro75, and nx foundation solutions.
-
and since the company ended the stanza with a record backlog, we have upped our bottom-line estimate for the current fiscal year to $4.40 a share, with strong earnings growth likely in fiscal 2026 and 2027.
source: company earnings report, 2026
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What could go wrong
the #1 risk is utility-scale solar project timing slipping against a growth story priced on execution.
med
backlog conversion risk
Record backlog sounds great. It only matters if projects move from contract to shipment on time. This business reported one revenue line totaling $2.7B, so a slowdown does not hide anywhere.
with only one disclosed revenue bucket on the page, execution risk touches 100% of the reported $2.7B business
med
platform expansion risk
The rebrand to nextpower and the new power-conversion products aim to broaden the story. If those adjacencies do not scale, investors are still left underwriting a tracker company with more marketing than mix change.
the current numbers — $2.7B revenue and $4.40 in full-year EPS — still come from a business with limited segment transparency
med
margin compression
A 17.8% net margin is strong. It is also a level the market notices when it starts moving the wrong way. New product launches, project delays, or cost pressure can make growth look less impressive fast.
if margin slips, the quality argument weakens first — because 17.8% is part of the thesis, not a side note
med
data reliability around the stock
This page shows a $0.01 share price next to a $16B market cap and a $36–$108 range. That does not change the company, but it does make valuation framing harder than it should be.
until the quote feed is clean, return math and target upside on this page should be treated cautiously
A project slowdown would pressure the full reported $2.7B revenue base, and the valuation discussion is weaker than usual because the quote feed itself looks wrong.
source: institutional data · regulatory filings · risk analysis
Pay attention to
risk
the quote feed itself
A $0.01 print against a $36–$108 range breaks any clean valuation conversation. First fix the tape. Then argue about upside.
metric
quarterly revenue versus $909M
That is the latest run rate. If revenue starts falling below it after the new product push, the backlog story gets less comfortable.
trend
whether new power products become real revenue
The rebrand only matters if the broader platform shows up in shipments, customer wins, and future disclosure.
calendar
fy2026 path to $4.60 EPS
Analysts expect earnings to rise from $4.40 to $4.60. That is not a huge jump, but missing it would matter because growth expectations are already built in.
Analyst rankings
short-term outlook
average
momentum score 3 — in human-speak, analysts are not seeing a major short-term edge here.
risk profile
average
stability score 3 — the risk setup looks middle of the pack, even if the price stability reading is weak.
chart momentum
average
technical score 3 — no clear trend advantage. The market is waiting for cleaner signals.
source: institutional data
Institutional activity
institutions have been net buying for 3 consecutive quarters — 321 buyers vs. 221 sellers in 3q2025. total institutional holdings: 0.1B shares. net buying for 3 quarters.
source: institutional data
Price targets
3-5 year target range
$36
$159
$120
current price
$98
target midpoint · 18% from current · 3-5yr high: $135 (+25% · 6% ann'l return)
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