Nextracker Inc. (NXT) Key Metrics
NXT valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $12.30B
- Enterprise value
- $11.86B
- P/E (TTM)
- 20.7 10-yr median 29.2
- Forward P/E
- 18.2
- PEG ratio
- 3.15
- Price / sales
- 3.4 10-yr median 3.0
- Price / book
- 4.9 10-yr median 7.9
- EV / EBITDA
- 15.7 10-yr median 18.0
- Dividend yield
- —
- Beta
- 1.94
NXT key metrics, FY2019–FY2026
Fiscal year ended March 31, 2026 · U.S. dollarsNXT valuation Price multiples at each fiscal year-end price.
NXT returns How much profit the business earns on the capital it uses.
NXT per-share figures Results divided by the shares outstanding at year-end.
NXT financial health Debt, liquidity and how easily interest is covered.
NXT efficiency & capital use Working capital cycle and where the cash goes.
NXT valuation history
NXT returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
NXT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
NXT cash returned to shareholders
NXT price vs earnings per share
NXT key metrics
FY2019–FY2026| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||
| Market capitalization | $18.41B | $6.29B | $8.29B | $5.29B | — | — | — | — |
| Enterprise value | $17.37B | $5.56B | $7.98B | $5.31B | — | — | — | — |
| P/E ratio | 31.4 | 12.4 | 27.1 | 44.5 | — | — | — | — |
| Price / sales | 5.2 | 2.1 | 3.3 | 2.8 | — | — | — | — |
| Price / book | 7.9 | 3.9 | 8.6 | — | — | — | — | — |
| Price / free cash flow | 36.0 | 10.1 | 19.6 | 50.6 | — | — | — | — |
| Price / operating cash flow | 33.1 | 9.6 | 19.3 | 49.1 | — | — | — | — |
| EV / sales | 4.9 | 1.9 | 3.2 | 2.8 | — | — | — | — |
| EV / EBITDA | 23.2 | 8.2 | 12.7 | 30.4 | — | — | — | — |
| EV / free cash flow | 33.9 | 8.9 | 18.9 | 50.8 | — | — | — | — |
| Earnings yield | 3.2% | 8.1% | 3.7% | 2.2% | — | — | — | — |
| Free cash flow yield | 2.8% | 9.9% | 5.1% | 2.0% | — | — | — | — |
| Dividend yield | — | — | — | 3.2% | — | — | — | — |
| Shareholder yield (dividends + buybacks) | 0.0% | 0.0% | 6.7% | 16.3% | — | — | — | — |
| Share price at fiscal year-end | $120.55 | $42.14 | $56.27 | $36.26 | — | — | — | — |
| Per share | ||||||||
| Revenue per share | $23.31 | $19.82 | $16.97 | $13.04 | $31.78 | $31.03 | $30.40 | $17.15 |
| Earnings per share | $3.84 | $3.41 | $2.08 | $0.82 | $1.11 | $3.23 | $3.07 | −$0.04 |
| Operating cash flow per share | $3.64 | $4.39 | $2.91 | $0.74 | −$3.21 | $2.45 | $6.25 | −$0.36 |
| Free cash flow per share | $3.35 | $4.17 | $2.87 | $0.72 | −$3.34 | $2.37 | $6.21 | −$0.48 |
| Cash per share | $7.17 | $5.13 | $3.22 | $0.89 | $0.63 | $4.95 | $0.08 | $0.37 |
| Book value per share | $15.29 | $10.91 | $6.52 | −$21.09 | $10.93 | $11.83 | $6.00 | $9.32 |
| Tangible book value per share | $11.57 | $8.06 | $4.71 | −$22.92 | $5.09 | $4.67 | −$1.55 | $1.40 |
| Dividends per share | — | — | — | $1.17 | $0.43 | $8.60 | $8.60 | — |
| Capex per share | $0.29 | $0.23 | $0.05 | $0.02 | $0.13 | $0.08 | $0.04 | $0.12 |
| Debt per share | $0.35 | $0.23 | $1.15 | $1.03 | $0.10 | $0.12 | $0.14 | — |
| Shares outstanding | 152.7M | 149.3M | 147.3M | 145.9M | 45.9M | 38.5M | 38.5M | 38.5M |
| Change in shares outstanding | +2.3% | +1.4% | +1.0% | +218.0% | +19.0% | 0.0% | 0.0% | — |
| Returns & profitability | ||||||||
| Return on equity (ROE) | 29.6% | 39.3% | — | — | 10.6% | 36.2% | 40.1% | −0.4% |
| Return on invested capital (ROIC) | 52.3% | 65.7% | — | — | 13.8% | 49.6% | 40.9% | 0.2% |
| Return on assets (ROA) | 16.1% | 17.8% | 15.6% | 9.8% | 5.4% | 16.6% | 20.1% | −0.3% |
| Return on tangible assets | 16.7% | 18.4% | 13.6% | 10.3% | 6.8% | 20.6% | 36.0% | −0.6% |
| Free cash flow margin | 14.4% | 21.0% | 16.9% | 5.5% | −10.5% | 7.6% | 20.4% | −2.8% |
| Income quality (OCF / net income) | 0.95 | 1.29 | 1.40 | 0.91 | −2.89 | 0.76 | 2.04 | — |
| Financial health | ||||||||
| Total debt | $52.9M | $34.1M | $169.0M | $150.5M | $4.5M | $4.5M | $5.4M | — |
| Cash & short-term investments | $1.09B | $766.1M | $474.1M | $130.0M | $29.1M | $190.6M | $3.0M | $14.4M |
| Net debt | −$1.04B | −$732.0M | −$305.0M | $20.5M | −$24.6M | −$186.1M | $2.5M | −$14.4M |
| Debt / equity | 0.02 | 0.02 | 0.18 | — | 0.01 | 0.01 | 0.02 | — |
| Debt / assets | 0.01 | 0.01 | 0.07 | 0.11 | 0.00 | 0.01 | 0.01 | — |
| Net debt / EBITDA | −1.39 | −1.09 | −0.49 | 0.12 | −0.27 | −1.06 | 0.01 | −0.73 |
| Current ratio | 2.45 | 2.09 | 1.98 | 1.72 | 1.50 | 1.49 | 0.83 | 1.30 |
| Quick ratio | 2.22 | 1.84 | 1.64 | 1.39 | 1.11 | 1.20 | 0.63 | 1.14 |
| Interest coverage | 265.8 | 48.8 | 42.5 | 91.9 | — | 315.8 | 296.6 | — |
| Working capital | $1.68B | $1.12B | $876.7M | $364.8M | $235.4M | $191.9M | −$60.1M | $53.3M |
| Invested capital | $1.29B | $896.1M | $656.0M | −$3.06B | $476.6M | $270.0M | $233.5M | $345.0M |
| Tangible asset value | $1.77B | $1.20B | $725.3M | $218.4M | $233.5M | $179.9M | −$59.6M | $53.8M |
| Net current asset value | $1.11B | $593.6M | $241.5M | −$62.6M | $192.6M | $158.3M | −$85.3M | $34.7M |
| Graham number | $36.33 | $28.93 | $17.47 | — | $16.52 | $29.31 | $20.35 | — |
| Graham net-net per share | −$1.31 | $1.02 | −$1.50 | −$2.02 | −$1.11 | $0.59 | −$4.71 | −$0.75 |
| Capital allocation | ||||||||
| Dividends paid | — | — | — | $170.0M | $19.9M | $331.4M | $331.4M | — |
| Share buybacks (net) | $395,000 | $0 | $552.0M | $693.8M | $693.8M | $0 | — | — |
| Dividend payout ratio | — | — | — | 143.0% | 39.1% | 266.5% | 280.2% | — |
| Dividends + buybacks / free cash flow | 0.1% | 0.0% | 130.7% | 826.7% | — | 362.9% | 138.5% | — |
| Capex / revenue | 1.3% | 1.1% | 0.3% | 0.2% | 0.4% | 0.2% | 0.1% | 0.7% |
| Capex / operating cash flow | 8.1% | 5.2% | 1.6% | 3.0% | — | 3.1% | 0.7% | — |
| Capex / depreciation | 1.46 | 2.53 | 1.53 | 0.69 | 0.53 | 0.18 | 0.09 | 0.24 |
| Stock-based compensation / revenue | 3.4% | 4.0% | 2.3% | 1.7% | 0.2% | 0.4% | 0.4% | 1.2% |
| R&D / revenue | 3.4% | 2.7% | 1.7% | 1.1% | 1.0% | 1.1% | 0.7% | 1.3% |
| SG&A / revenue | 9.6% | 9.8% | 7.3% | 5.1% | 4.6% | 5.1% | 4.7% | 5.9% |
| Efficiency | ||||||||
| Days sales outstanding | 77.5 | 123.3 | 107.6 | 98.8 | 91.3 | 75.0 | 64.0 | 103.8 |
| Days of inventory on hand | 39.7 | 52.7 | 47.8 | 39.4 | 40.9 | 35.0 | 19.2 | 16.6 |
| Days payables outstanding | 85.1 | 97.0 | 68.7 | 59.8 | 74.8 | 77.1 | 53.5 | 63.7 |
| Cash conversion cycle (days) | 32.1 | 79.0 | 86.8 | 78.4 | 57.3 | 32.9 | 29.7 | 56.7 |
| Receivables turnover | 4.71 | 2.96 | 3.39 | 3.69 | 4.00 | 4.87 | 5.70 | 3.52 |
| Payables turnover | 4.29 | 3.76 | 5.32 | 6.10 | 4.88 | 4.74 | 6.82 | 5.73 |
| Inventory turnover | 9.19 | 6.93 | 7.63 | 9.26 | 8.93 | 10.41 | 19.03 | 21.93 |
| Asset turnover | 0.98 | 1.04 | 1.27 | 1.56 | 1.54 | 1.59 | 1.99 | 1.19 |
| Average receivables | $755.5M | $999.6M | $737.2M | $514.9M | $364.5M | $245.5M | $205.3M | $187.8M |
| Average payables | $559.4M | $521.0M | $340.1M | $264.8M | $268.7M | $203.5M | $140.5M | $105.5M |
| Average inventory | $261.0M | $283.0M | $236.9M | $174.4M | $146.7M | $92.5M | $50.4M | $27.5M |
| Intangibles / total assets | 13.9% | 13.3% | 10.6% | 18.8% | 26.3% | 31.3% | 46.9% | 54.8% |
Computed from NXT's annual financial statements (latest annual report filed May 19, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
NXT valuation and financial ratios
At the end of fiscal 2026 (March 31, 2026), Nextracker traded at 31.4 times earnings, against a 8-year median of 29.2. Based on the latest twelve months, the trailing P/E is 20.7 and the forward P/E is 18.2. Nextracker earned a return on equity of 29.6% and a return on invested capital of 52.3% in fiscal 2026. It ended the year with $52.9 million of debt and $1.1 billion in cash and short-term investments, a net cash position of $1.0 billion. It returned $0.4 million to shareholders: $0 in dividends and $0.4 million in share buybacks, 0% of free cash flow. The share count rose 296.3% from 38.5M to 152.7M over 7 years.
See the NXT income statement, the NXT chart for price history, or the NXT stock overview for the latest quote and news.
NXT key metrics FAQ
What is Nextracker's P/E ratio?
Nextracker's trailing P/E ratio is 20.7 based on the last twelve months of earnings (as of October 17, 2026), and its forward P/E is 18.2. At the end of fiscal 2026 it was 31.4, compared with a 8-year median of 29.2.
What is Nextracker's EV/EBITDA?
Nextracker's enterprise value was 23.2 times EBITDA at the end of fiscal 2026 (enterprise value $17.4 billion, EBITDA $747.1 million); the current EV/EBITDA is 15.7.
What is Nextracker's return on equity?
Nextracker's return on equity (ROE) was 29.6% in fiscal 2026: net income of $585.9 million on average shareholders' equity of $2.0 billion.
What is Nextracker's ROIC?
Nextracker's return on invested capital was 52.3% in fiscal 2026, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Nextracker have?
Nextracker had total debt of $52.9 million at the end of fiscal 2026, a debt-to-equity ratio of 0.02 and more cash than debt.
Does Nextracker buy back its shares?
Yes. Nextracker spent $0.4 million on net share repurchases in fiscal 2026 Shares outstanding changed +2.3% over the year, to 152.7M..
What is Nextracker's free cash flow yield?
Nextracker generated $511.6 million of free cash flow in fiscal 2026, a free cash flow yield of 2.8% on its market value at year-end ($18.4 billion).
What is Nextracker's current ratio?
Nextracker's current ratio was 2.45 at the end of fiscal 2026: current assets were 2.45 times current liabilities.