Nextracker (NXT) financial statements
Nextracker reported revenue of $3.6B in fiscal 2026, up 24.4% a year over 5 years.
Net income was $586M and the operating margin 19.6%, against 13.3% in 2021.
Free cash flow was $514M, and the company returned $395,000 in net buybacks.
The diluted share count rose 5% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Nextracker's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Revenue | $1.2B | $1.5B | $1.9B | $2.5B | $3.0B | $3.6B |
| Cost of revenue | $964M | $1.3B | $1.6B | $1.7B | $2.0B | $2.4B |
| Gross profit | $232M | $147M | $287M | $813M | $1.0B | $1.2B |
| Research and development | $13M | $14M | $22M | $42M | $79M | $121M |
| Selling, general and admin | $60M | $67M | $97M | $184M | $290M | $342M |
| Operating income | $159M | $66M | $168M | $587M | $639M | $697M |
| Pre-tax income | $158M | $65M | $169M | $608M | $648M | $714M |
| Income tax | $34M | $14M | $48M | $112M | $131M | $128M |
| Net income | $0 | $0 | $1M | $306M | $509M | $586M |
| EPS (diluted) | — | — | $0.02 | $3.37 | $3.47 | $3.84 |
| Diluted shares | — | — | 146M | 147M | 149M | 153M |
| Gross margin | 19.4% | 10.1% | 15.1% | 32.5% | 34.1% | 32.6% |
| Operating margin | 13.3% | 4.5% | 8.9% | 23.5% | 21.6% | 19.6% |
| Net margin | 0.0% | 0.0% | 0.1% | 12.3% | 17.2% | 16.5% |
Balance sheet
Fiscal years, from Nextracker's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Cash and short-term investments | $191M | $29M | $130M | $474M | $766M | $1.1B |
| Receivables | — | $168M | $271M | $383M | $472M | $417M |
| Inventory | — | $172M | $138M | $202M | $209M | $262M |
| Total current assets | — | $714M | $872M | $1.8B | $2.2B | $2.8B |
| Property, plant and equipment | — | $7M | $7M | $9M | $60M | $78M |
| Goodwill | — | $265M | $265M | $265M | $371M | $489M |
| Total assets | — | $1.0B | $1.4B | $2.5B | $3.2B | $4.1B |
| Total current liabilities | — | $473M | $507M | $891M | $1.0B | $1.2B |
| Long-term debt | — | $0 | $147M | $144M | $0 | — |
| Total liabilities | — | $516M | $935M | $1.5B | $1.6B | $1.7B |
| Shareholders' equity | $456M | $0 | -$3.1B | $992M | $1.6B | $2.3B |
| Net debt | -$191M | -$29M | $17M | -$326M | -$766M | -$1.1B |
Cash flow
Fiscal years, from Nextracker's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Operating cash flow | $94M | -$147M | $108M | $429M | $656M | $563M |
| Capital spending | $2M | $6M | $3M | $6M | $34M | $49M |
| Free cash flow | $92M | -$153M | $104M | $423M | $622M | $514M |
| Stock-based compensation | $4M | $3M | $32M | $57M | $119M | $120M |
| Share buybacks (net) | — | $0 | -$694M | $0 | $0 | -$395,000 |
| Net borrowing | — | $0 | $150M | $0 | -$150M | $0 |
| Free cash flow margin | 7.7% | -10.5% | 5.5% | 16.9% | 21.0% | 14.4% |
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Open NXT in InvestinglyQuestions
What was Nextracker's revenue in 2026?
$3.6B in fiscal 2026, from its 10-K filing.
How much free cash flow does Nextracker generate?
$514M in fiscal 2026 (operating cash flow minus capital spending).
From Nextracker's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.